Long-Term Borrowings and Subordinated Debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of Long-Term Borrowings, Interest Expense and Weighted Average Interest Rate

The following table represents the balance of long-term borrowings, the weighted average interest rate as of December 31 and interest expense for the years ended December 31:

(dollars in thousand)	2021			2020			2019
Long-term borrowings	$	22,430		$	23,681		$	50,868
Weighted average interest rate	1.94		%	2.03		%	2.60		%
Interest expense	$	458		$	1,201		$	1,831

Schedule of Annual Maturities and Average Interest Rate of Long-Term Debt

Scheduled annual maturities and average interest rates for all of our long-term debt for each of the five years subsequent to December 31, 2020 and thereafter are as follows:

(dollars in thousands)	Balance		Average  Rate
2022	$	7,689	2.29	%
2023	464		5.74	%
2024	13,381		1.34	%
2025	81		5.98	%
2026	87		6.00	%
Thereafter	728		6.01	%
Total	$	22,430	1.94	%

Schedule of Junior Subordinated Debt Securities and Interest Expense

The following table represents the composition of junior subordinated debt securities at December 31 and the interest expense for the years ended December 31:

	2021				2020				2019
(dollars in thousands)	Balance		Interest Expense		Balance		Interest Expense		Balance		Interest Expense
Junior subordinated debt	$	25,000	$	756	$	34,750	$	1,007	$	34,753	$	1,059
Junior subordinated debt—trust preferred securities	29,393		1,087		29,333		1,279		29,524		1,251
Total	$	54,393	$	1,843	$	64,083	$	2,286	$	64,277	$	2,310

Schedule of Junior Subordinated Debt Securities

The following table summarizes the key terms of our junior subordinated debt securities:

(dollars in thousands)	2001 Trust Preferred Securities	2005 Trust Preferred Securities	2006 Junior Subordinated Debt	2008 Trust Preferred Securities
Junior Subordinated Debt	$—	$—	$25,000	$—
Trust Preferred Securities	5,155	4,124	—	20,619
Stated Maturity Date	7/25/2031	5/23/2035	12/15/2036	3/15/2038
Optional redemption date at par	Any time after 7/25/2011	Any time after 5/23/2010	Any time after 9/15/2011	Any time after 3/15/2013
Regulatory Capital	Tier 1	Tier 1	Tier 2	Tier 1
Interest Rate	6 Month LIBOR plus 375 bps	3 Month LIBOR plus 177 bps	3 month LIBOR plus 160 bps	3 month LIBOR plus 350 bps
Interest Rate at December 31, 2021	3.90%	1.93%	1.80%	3.70%