XML 34 R23.htm IDEA: XBRL DOCUMENT

UNSECURED BORROWINGS (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of Subordinated Note Balances and Related Weighted Average Interest Rates

The notes are currently redeemable, in whole or in part, without penalty, at the Company’s option. Balances net of deferred issuance costs, and related weighted average interest rates as of the indicated dates (calculated including issuance cost amortization and adjusted for effects of related Derivatives held as cash flow hedges) were as follows (dollars in thousands):

	March 31, 2021					December 31, 2020
	Borrowings Outstanding		Average Rate			Borrowings Outstanding		Average Rate
Junior subordinated notes maturing in:
October 2035 ($35,000 face amount)	$	34,441		7.87	%	$	34,431		7.87	%
December 2035 ($40,000 face amount)		39,445		7.63			39,435		7.64
September 2036 ($25,000 face amount)		24,633		7.67			24,627		7.68
	$	98,519		7.72		$	98,493		7.73

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details