v3.25.2
TRUST PREFERRED DEBENTURES (Tables)
12 Months Ended
Dec. 31, 2024
TRUST PREFERRED DEBENTURES  
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 issuanceIssuance AmountShares IssuedVariable RateMaturity DateCarrying AmountRateCarrying AmountRate
Grant Park Statutory Trust I12/19/2003$3,093 3,000
SOFR plus 2.85%
1/23/2034$2,493 7.70 %$2,454 8.52 %
Midland States Preferred Securities Trust3/26/200410,310 10,000
SOFR plus 2.75%
4/23/203410,286 7.64 %10,284 8.42 %
Centrue Statutory Trust II4/22/200410,310 10,000
SOFR plus 2.65%
6/17/20348,577 7.26 %8,468 8.32 %
Love Savings/Heartland Capital Trust III11/30/200620,619 20,000
SOFR plus 1.75%
12/31/203615,328 6.37 %15,110 7.42 %
Love Savings/Heartland Capital Trust IV6/6/200720,619 20,000
SOFR plus 1.47%
9/6/203714,521 6.18 %14,300 7.13 %
Total trust preferred debentures$64,951 $51,205 $50,616