| Schedule of Face Value Carrying Value of Subordinated Notes |
The face value and carrying value of the subordinated notes are summarized below: | | | | | | | | | | | | | (dollars in thousands) | December 31, 2025 | | December 31, 2024 | | | | | | Subordinated notes, at face value | $ | — | | | $ | 40,000 | | | Unamortized issuance costs | — | | | (447) | | | Subordinated notes, at carrying value | $ | — | | | $ | 39,553 | |
The face values and carrying values of the junior subordinated debentures are summarized as follows: | | | | | | | | | | | | | | | | | | | | | Carrying Value | | (dollars in thousands) | Face Value | | December 31, 2025 | | December 31, 2024 | | | | | | | | Heartland Bancorp, Inc. Capital Trust B | $ | 10,310 | | $ | 10,310 | | $ | 10,310 | | Heartland Bancorp, Inc. Capital Trust C | 10,310 | | 10,310 | | 10,310 | | Heartland Bancorp, Inc. Capital Trust D | 5,155 | | 5,155 | | 5,155 | | FFBI Capital Trust I | 7,217 | | 7,217 | | 7,217 | | National Bancorp Statutory Trust I | 5,773 | | 4,985 | | 4,919 | | Town and Country Statutory Trust II | 4,124 | | 4,347 | | 4,374 | | Town and Country Statutory Trust III | 7,732 | | 7,601 | | 7,590 | | West Plains Investors Statutory Trust I | 3,093 | | 2,984 | | 2,974 | | Total | $ | 53,714 | | $ | 52,909 | | $ | 52,849 |
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| Schedule of Interest Rates and Maturities of the Junior Subordinated Debentures |
The interest rates and maturities of the junior subordinated debentures are summarized as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Interest Rate at | | | | Variable Interest Rate | | December 31,
2025 | | December 31,
2024 | | Maturity Date | | Heartland Bancorp, Inc. Capital Trust B | SOFR plus | 3.01% | | 6.92 | % | | 7.67 | % | | April 6, 2034 | | Heartland Bancorp, Inc. Capital Trust C | SOFR plus | 1.79 | | 5.51 | | | 6.15 | | | June 15, 2037 | | Heartland Bancorp, Inc. Capital Trust D | SOFR plus | 1.61 | | 5.33 | | | 5.97 | | | September 15, 2037 | | FFBI Capital Trust I | SOFR plus | 3.06 | | 6.97 | | | 7.72 | | | April 6, 2034 | | National Bancorp Statutory Trust I | SOFR plus | 3.16 | | 6.88 | | | 7.52 | | | December 15, 2037 | | Town and Country Statutory Trust II | SOFR plus | 3.05 | | 6.76 | | | 7.40 | | | March 17, 2034 | | Town and Country Statutory Trust III | SOFR plus | 1.94 | | 5.66 | | | 6.30 | | | March 22, 2037 | | West Plains Investors Statutory Trust I | SOFR plus | 1.71 | | 5.43 | | | 6.07 | | | June 15, 2037 |
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