v3.26.3
DEBT
 9 Months Ended
Sep. 30, 2026
Debt Disclosure [Abstract]  
DEBT DEBT
Long Term Debt

The carrying amounts of long term debt are summarized as follows:

September 30,
2026		December 31,
2025
2020 Notes due 2040
$50,000 $50,000 
9% UFG Notes - Series A & B
96,428 96,200 
Total
$146,428 $146,200 

Interest expense on the Company’s outstanding long term debt for the three- and nine-month periods ended September 30, 2026 and 2025 was as follows:
Three months ended September 30,Nine months ended September 30,
2026202520262025
2020 Notes due 2040
$859 $859 $2,578 $2,578 
 9% UFG Notes - Series A & B
2,328 2,259 6,978 5,507 
Total
$3,187 $3,118 $9,556 $8,085 
Amortization of deferred issuance costs are recognized as a component of interest expense.
The Company is required to maintain an investment grade rating for each series of the 9% UFG Notes from a rating agency. The 9% UFG Notes also require and impose certain operating restrictions, financial restrictions, and financial covenants on the Company. As of September 30, 2026, we were in compliance with all covenants.
Credit Facilities
As of September 30, 2026, United Fire & Casualty Company ("UF&C"), UFG's sole direct insurance company subsidiary, has Federal Home Loan Bank of Des Moines ("FHLB Des Moines") borrowing capacity up to $545.6 million, subject to investments available as collateral, if an immediate liquidity need would arise. UF&C had no outstanding balance as of September 30, 2026 and December 31, 2025 related to these lines of credit.