v3.25.4
SUBORDINATED DEBT (Tables)
12 Months Ended
Dec. 31, 2025
Subordinated Debt [Abstract]  
Schedule of Subordinated Debt

The following table lists outstanding subordinated debt as of December 31, 2025 and 2024.

 

 

2025

 

 

2024

 

Subordinated debentures

 

$

24,308

 

 

$

23,946

 

Subordinated notes

 

 

73,837

 

 

 

73,531

 

Total

 

$

98,145

 

 

$

97,477

 

At December 31, 2025 and 2024, the contractual balance and the unamortized fair value adjustments were as shown below.

 

 

2025

 

 

2024

 

 

 

 

 

 

Weighted Average Rate

 

 

Weighted Average Term in Years

 

 

 

 

 

Weighted Average Rate

 

 

Weighted Average Term in Years

 

CTII subordinated debentures

 

$

10,310

 

 

 

6.17

%

 

 

9.3

 

 

$

10,310

 

 

 

6.92

%

 

 

10.3

 

CTIII subordinated debentures

 

 

5,155

 

 

 

5.87

%

 

 

11.5

 

 

 

5,155

 

 

 

6.51

%

 

 

12.5

 

CFSTI subordinated debentures

 

 

5,155

 

 

 

7.20

%

 

 

7.0

 

 

 

5,155

 

 

 

7.84

%

 

 

8.0

 

ASBII subordinated debentures

 

 

7,732

 

 

 

5.78

%

 

 

9.7

 

 

 

7,732

 

 

 

6.42

%

 

 

10.7

 

Total contractual balance

 

 

28,352

 

 

 

 

 

 

 

 

 

28,352

 

 

 

 

 

 

 

Fair market value adjustments

 

 

(4,044

)

 

 

 

 

 

 

 

 

(4,406

)

 

 

 

 

 

 

Total subordinated debentures

 

$

24,308

 

 

 

 

 

 

 

 

$

23,946

 

 

 

 

 

 

 

Schedule of Subordinated Notes

Subordinated notes as of December 31, 2025, and December 31, 2024, are listed below.

 

 

December 31, 2025

 

 

December 31, 2024

 

 

 

 

 

 

Weighted Average Rate

 

 

Weighted Average Term in Years

 

 

 

 

 

Weighted Average Rate

 

 

Weighted Average Term in Years

 

Subordinated notes

 

$

75,000

 

 

 

7.13

%

 

 

9.6

 

 

$

75,000

 

 

 

7.00

%

 

 

5.5

 

Total principal outstanding

 

 

75,000

 

 

 

 

 

 

 

 

 

75,000

 

 

 

 

 

 

 

Debt issuance cost

 

 

(1,163

)

 

 

 

 

 

 

 

 

(1,469

)

 

 

 

 

 

 

Total subordinated notes

 

$

73,837

 

 

 

 

 

 

 

 

$

73,531

 

 

 

 

 

 

 

 

Summary of Future Principal Repayments

Future principal repayments of the December 31, 2025, outstanding balances for all borrowings are as follows.

 

 

Retail
Repurchase
Agreements

 

 

FHLB
Advances

 

 

Subordinated
Debentures

 

 

Subordinated
Notes

 

 

Total

 

Due in one year or less

 

$

39,864

 

 

$

300,000

 

 

$

 

 

$

 

 

$

339,864

 

Due after one year through two years

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Due after two years through three years

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Due after three years through four years

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Due after four years through five years

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Thereafter

 

 

 

 

 

 

 

 

28,352

 

 

 

75,000

 

 

 

103,352

 

Total

 

$

39,864

 

 

$

300,000

 

 

$

28,352

 

 

$

75,000

 

 

$

443,216