Funds Borrowed (Tables)
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3 Months Ended |
Mar. 31, 2026 |
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| Debt Disclosure [Abstract] |
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| Schedule of Outstanding Balances of Funds Borrowed |
The following table presents outstanding balances of funds borrowed.
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Payments Due for the Twelve Months Ending March 31, |
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(Dollars in thousands) |
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2027 |
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2028 |
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2029 |
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2030 |
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2031 |
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Thereafter |
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March 31, 2026 (1) |
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December 31, 2025 (1) |
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Interest
Rate (2) |
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Deposits (3) |
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$ |
700,449 |
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$ |
554,188 |
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$ |
446,890 |
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$ |
198,831 |
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$ |
227,102 |
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$ |
— |
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$ |
2,127,460 |
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$ |
2,083,335 |
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3.88 |
% |
Privately placed notes |
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— |
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53,750 |
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39,000 |
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— |
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— |
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22,500 |
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115,250 |
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146,500 |
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8.35 |
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SBA debentures and borrowings |
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4,500 |
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— |
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2,500 |
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— |
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3,000 |
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63,500 |
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73,500 |
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85,000 |
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4.11 |
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Trust preferred securities |
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— |
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— |
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— |
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— |
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— |
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33,000 |
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33,000 |
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33,000 |
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6.06 |
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Federal reserve and other borrowings |
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40,000 |
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— |
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— |
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— |
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— |
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— |
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40,000 |
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50,000 |
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3.75 |
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Strategic partner collateral deposits |
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6,250 |
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— |
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— |
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— |
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— |
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— |
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6,250 |
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6,081 |
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3.64 |
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Total |
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$ |
751,199 |
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$ |
607,938 |
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$ |
488,390 |
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$ |
198,831 |
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$ |
230,102 |
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$ |
119,000 |
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$ |
2,395,460 |
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$ |
2,403,916 |
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4.13 |
% |
(1)Excludes deferred financing costs of $8.2 million and $8.4 million as of March 31, 2026 and December 31, 2025. (2)Weighted average contractual rate as of March 31, 2026. (3)Balance includes $2.8 million and $3.7 million in retail savings deposit balances as of March 31, 2026 and December 31, 2025.
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| Summary of Maturity of Deposit Pools and Savings Deposits, Including Strategic Partner Reserve Deposits |
The following table presents the maturity of the deposit pools, which includes strategic partner reserve deposits, as of March 31, 2026.
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(Dollars in thousands) |
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March 31, 2026 |
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Three months or less |
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$ |
241,634 |
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Over three months through six months |
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159,896 |
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Over six months through one year |
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298,919 |
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Over one year |
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1,427,011 |
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Deposits |
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2,127,460 |
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Strategic partner collateral deposits |
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6,250 |
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Total deposits |
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$ |
2,133,710 |
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| Schedule of Private Placement Notes |
The following table presents the private placement notes outstanding as of March 31, 2026 and December 31, 2025.
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(Dollars in thousands) |
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Date of Notes |
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Maturity |
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Interest Rate |
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Interest Payable |
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March 31, 2026 |
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December 31, 2025 |
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December 2020 |
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December 2027 |
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7.500 |
% |
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Semi-annually |
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$ |
53,750 |
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$ |
53,750 |
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February 2021 |
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February 2026 |
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7.250 |
% |
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Semi-annually |
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— |
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31,250 |
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September 2023 |
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September 2028 |
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9.250 |
% |
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Semi-annually |
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39,000 |
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39,000 |
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June 2024 |
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June 2039 |
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8.875 |
% |
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Semi-annually |
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17,500 |
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17,500 |
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August 2024 |
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August 2039 |
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8.625 |
% |
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Semi-annually |
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5,000 |
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5,000 |
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$ |
115,250 |
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$ |
146,500 |
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| Schedule of SBA Debentures and Borrowings |
The following table presents the SBA debentures and borrowings as of March 31, 2026 and December 31, 2025.
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(Dollars in thousands) |
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Date of Notes |
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Maturity |
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Interest Rate |
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Interest Payable |
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March 31, 2026 |
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December 31, 2025 |
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March 2016 |
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March 2026 |
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3.25 |
% |
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Semi-annually |
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— |
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1,500 |
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March 2016 |
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March 2026 |
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3.18 |
% |
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Semi-annually |
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— |
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10,000 |
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May 2016 |
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September 2026 |
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2.72 |
% |
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Semi-annually |
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2,500 |
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2,500 |
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March 2017 |
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March 2027 |
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3.52 |
% |
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Semi-annually |
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2,000 |
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2,000 |
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September 2018 |
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September 2028 |
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4.22 |
% |
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Semi-annually |
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1,250 |
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1,250 |
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March 2019 |
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March 2029 |
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3.79 |
% |
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Semi-annually |
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1,250 |
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1,250 |
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September 2020 |
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September 2030 |
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1.71 |
% |
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Semi-annually |
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3,000 |
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3,000 |
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June 2021 |
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September 2031 |
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1.58 |
% |
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Semi-annually |
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8,500 |
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8,500 |
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October 2021 |
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March 2032 |
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3.21 |
% |
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Semi-annually |
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7,000 |
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7,000 |
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October 2022 |
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March 2033 |
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5.44 |
% |
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Semi-annually |
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4,750 |
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4,750 |
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April 2023 |
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September 2033 |
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5.96 |
% |
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Semi-annually |
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4,750 |
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4,750 |
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September 2023 |
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March 2034 |
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5.08 |
% |
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Semi-annually |
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4,750 |
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4,750 |
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November 2023 |
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March 2034 |
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5.08 |
% |
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Semi-annually |
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5,000 |
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5,000 |
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March 2025 |
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September 2035 |
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4.58 |
% |
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Semi-annually |
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10,250 |
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10,250 |
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August 2025 |
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September 2035 |
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4.66 |
% |
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Semi-annually |
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18,500 |
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18,500 |
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$ |
73,500 |
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$ |
85,000 |
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