NOTES PAYABLE AND LONG-TERM DEBT (Tables)

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Schedule of Short-term Debt

Short-term debt and current portion of long-term debt consisted of the following as of September 30, 2019 and December 31, 2018 (dollars in thousands):

	September 30,		December 31,
	2019		2018
Current portion of installment note payable due in November with variable interest rate equal to the WSJ prime rate plus 0.5%. Unsecured.	$	2,200	$	2,200
	$	2,200	$	2,200

Schedule of Long-term Debt Instruments

Long-term debt consisted of the following as of September 30, 2019 and December 31, 2018 (dollars in thousands):

	September 30,		December 31,
	2019		2018
Subordinated debentures issued on December 15, 2005 with floating rate interest equal to 3-Month LIBOR plus 375 basis points; net of $152,000 in debt issuance cost ($159,000 in 2018); maturity December 2035.  Interest payable quarterly.  Redeemable prior to maturity. Unsecured.	$	9,127	$	9,120
Subordinated debentures issued on June 21, 2007 with floating rate interest equal to 3-Month LIBOR plus 340 basis points; net of $59,000 in debt issuance cost ($61,000 in 2018); maturity June 15, 2037. Interest payable quarterly.  Redeemable prior to maturity. Unsecured.	3,034		3,032
	$	12,161	$	12,152