| Summary of Trust Preferred Debentures |
The following table summarizes the terms of each issuance: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | At December 31, 2024 | | At December 31, 2023 | | (dollars in thousands) | Date of issuance | | Issuance Amount | | Shares Issued | | Variable Rate | | Maturity Date | | Carrying Amount | | Rate | | Carrying Amount | | Rate | | Grant Park Statutory Trust I | 12/19/2003 | | $ | 3,093 | | | 3,000 | | SOFR plus 2.85% | | 1/23/2034 | | $ | 2,493 | | | 7.70 | % | | $ | 2,454 | | | 8.52 | % | | Midland States Preferred Securities Trust | 3/26/2004 | | 10,310 | | | 10,000 | | SOFR plus 2.75% | | 4/23/2034 | | 10,286 | | | 7.64 | % | | 10,284 | | | 8.42 | % | | Centrue Statutory Trust II | 4/22/2004 | | 10,310 | | | 10,000 | | SOFR plus 2.65% | | 6/17/2034 | | 8,577 | | | 7.26 | % | | 8,468 | | | 8.32 | % | | Love Savings/Heartland Capital Trust III | 11/30/2006 | | 20,619 | | | 20,000 | | SOFR plus 1.75% | | 12/31/2036 | | 15,328 | | | 6.37 | % | | 15,110 | | | 7.42 | % | | Love Savings/Heartland Capital Trust IV | 6/6/2007 | | 20,619 | | | 20,000 | | SOFR plus 1.47% | | 9/6/2037 | | 14,521 | | | 6.18 | % | | 14,300 | | | 7.13 | % | | Total trust preferred debentures | | | $ | 64,951 | | | | | | | | | $ | 51,205 | | | | | $ | 50,616 | | | |
|