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MANDATORILY REDEEMABLE PREFERRED SECURITIES
6 Months Ended
Jun. 30, 2022
MANDATORILY REDEEMABLE PREFERRED SECURITIES  
MANDATORILY REDEEMABLE PREFERRED SECURITIES

NOTE G: MANDATORILY REDEEMABLE PREFERRED SECURITIES

As of June 30, 2022, the Company does not sponsor any business trusts. The Company previously sponsored Community Capital Trust IV (“CCT IV”) until March 15, 2021 when the Company exercised its right to redeem all of the CCT IV debentures and associated preferred securities for a total of $77.3 million. The trust was formed for the purpose of issuing company-obligated mandatorily redeemable preferred securities to third-party investors and investing the proceeds from the sale of such preferred securities solely in junior subordinated debt securities of the Company.