v3.26.1
Short and Long-Term Borrowings (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Components of Long-term Borrowings The components of long-term borrowings were as follows.
(in thousands)June 30, 2026December 31, 2025
Junior subordinated debentures— 42,215 
Subordinated notes92,750 92,645 
Total long-term borrowings
$92,750 $134,860 
Schedule of Junior Subordinated Debentures and Subordinated Notes
The following table shows the breakdown of junior subordinated debentures and subordinated notes.
As of June 30, 2026
As of December 31, 2025
(in thousands)Maturity
Date		Interest
 Rate		ParUnamortized Premium /(Discount) / Debt Issue Costs
Carrying
Value		Interest
 Rate
Carrying
Value
Junior Subordinated Debentures:
Mid-Wisconsin Statutory Trust I (1)
12/15/2035— %$— $— $— 5.41 %$8,333 
Baylake Capital Trust II (2)
9/30/2036— %— — — 5.30 %14,133 
First Menasha Statutory Trust (3)
3/17/2034— %— — — 6.76 %4,799 
County Bancorp Statutory Trust II (4)
9/15/2035— %— — — 5.51 %5,741 
County Bancorp Statutory Trust III (5)
6/15/2036— %— — — 5.67 %5,683 
Fox River Valley Capital Trust (6)
5/30/2033— %— — — 7.89 %3,526 
ATBancorp Statutory Trust I (7)
6/15/2036— %— — — — %— 
ATBancorp Statutory Trust II (8)
9/15/2037— %— — — — %— 
Barron Investment Capital Trust I (9)
9/23/2036— %— — — — %— 
Central Bancshares Capital Trust II (10)
3/15/2038— %— — — — %— 
MidWestOne Statutory Trust II (11)
12/15/2037— %— — — — %— 
Total$— $— $— $42,215 
Subordinated Notes:
Subordinated Notes due 20317/15/20313.13 %$92,750 $— $92,750 3.13 %$92,645 
(1) The debentures, assumed in April 2013 as the result of an acquisition, had a floating rate of three-month SOFR plus 1.43%, adjusted quarterly.
(2) The debentures, assumed in April 2016 as a result of an acquisition, had a floating rate of three-month SOFR plus 1.35%, adjusted quarterly.
(3) The debentures, assumed in April 2017 as the result of an acquisition, had a floating rate of three-month SOFR plus 2.79%, adjusted quarterly.
(4) The debentures, assumed in December 2021 as the result of an acquisition, had a floating rate of three-month SOFR plus 1.53%, adjusted quarterly.
(5) The debentures, assumed in December 2021 as the result of an acquisition, had a floating rate of three-month SOFR plus 1.69%, adjusted quarterly.
(6) The debentures, assumed in December 2021 as the result of an acquisition, had a floating rate of 5-year swap rate plus 3.40%, which resets every five years.
(7) The debentures, assumed in February 2026 as the result of an acquisition, had a floating rate of three-month SOFR plus 1.68%, adjusted quarterly.
(8) The debentures, assumed in February 2026 as the result of an acquisition, had a floating rate of three-month SOFR plus 1.65%, adjusted quarterly.
(9) The debentures, assumed in February 2026 as the result of an acquisition, had a floating rate of three-month SOFR plus 2.15%, adjusted quarterly.
(10) The debentures, assumed in February 2026 as the result of an acquisition, had a floating rate of three-month SOFR plus 3.50%, adjusted quarterly.
(11) The debentures, assumed in February 2026 as the result of an acquisition, had a floating rate of three-month SOFR plus 1.59%, adjusted quarterly.