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SUBORDINATED DEBT ISSUANCE
9 Months Ended
Sep. 30, 2013
Debt Disclosure [Abstract]  
Subordinated Debt Issuance
SUBORDINATED DEBT ISSUANCE

In August 2013, the Company issued an aggregate of $38,050 of subordinated notes to accredited investors. The notes bear interest, payable on the 1st of January and July of each year, at a fixed interest rate of 7.625 percent per year. The notes mature in August 2023 and qualify as Tier 2 capital for the Company's regulatory purposes, subject to a phase out of the capital qualification five years prior to maturity. The notes are not convertible into common stock or preferred stock, and the notes are not callable by the Company or subject to prepayment at the option of the holders.