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Subordinated Debentures (Tables)
12 Months Ended
Dec. 31, 2023
Broker-Dealer [Abstract]  
Schedule of Subordinated Debentures

The following table summarizes the Company's subordinated debentures at December 31, 2023 and 2022:

 

 

 

December 31, 2023

 

 

December 31, 2022

 

Subordinated Note - fixed interest rate until November 30, 2026 then variable
     interest rate equal to SOFR plus
2.19%, the rate was 3.25% at December
     31, 2023 and 2022, respectively - $
75,000 maturing December 31, 2031

 

$

73,594

 

 

$

73,450

 

First Citizens Statutory Trust II - variable interest equal to 3-month CME Term
     SOFR plus
3.15%, which was 8.81% and 6.79% at December 31, 2023
    2022, respectively - $
7,732 maturing March 26, 2033

 

 

7,732

 

 

 

7,732

 

First Citizens Statutory Trust III - variable interest equal to 3-month LIBOR
     Term SOFR plus
2.25%, which was 7.91% and 5.78% at December 31,
    2023 and 2022, respectively - $
12,887 maturing September 20, 2034

 

 

12,887

 

 

 

12,887

 

First Citizens Statutory Trust IV - variable interest equal to 3-month CME
     Term SOFR plus
1.60%, which was 7.27% and 4.89% at December 31,
     2023 and 2022, respectively - $
5,155 maturing March 23, 2037

 

 

5,155

 

 

 

5,155

 

Futura TPF Trust I - variable interest rate equal to 3-month CME Term
     SOFR plus
1.66%, which was 7.33% and 4.95% at December 31, 2023
      and 2022, and respectively - $
2,578 maturing June 15, 2035

 

 

2,578

 

 

 

2,578

 

Futura TPF Trust II - variable interest rate equal to 3-month CME Term
     SOFR plus
1.66%, which was 7.33% and 4.95% at December 31, 2023
     and 2022, respectively - $
2,070 maturing June 15, 2035

 

 

1,997

 

 

 

1,997

 

Total subordinated debentures

 

$

103,943

 

 

$

103,799