BORROWING ARRANGEMENTS (Tables)

12 Months Ended

Dec. 31, 2019

BORROWING ARRANGEMENTS [Abstract]

Short-Term Borrowings

The following table summarizes our short-term borrowings at year-end:

	2019		2018
Federal funds purchased	$	17,165	$	17,705
FHLB advances - short-term		20,000		—
Total	$	37,165	$	17,705

FHLB Advances

The following table is a detail of the advances as of December 31:

Issue Date	Original Amount of Advance		2019 Balance		2018 Balance		Maturity Date		Interest Rate at December 31, 2019
2013	$	20,000	$	20,000	$	20,000		2020	Fixed; 1.50%
2015		25,000		25,000		25,000		2025	Variable; 1.67%
2015		25,000		25,000		25,000		2025	Variable; 1.67%
2015		25,000		25,000		25,000		2025	Variable; 1.69%
	$	95,000	$	95,000	$	95,000

Debentures and Trust Preferred Securities

The following table is a detail of the debentures and TPS at December 31, 2019:

	Issue Date	Amount of TPS		Amount of Debentures		Stated Maturity Date of TPS and Debentures(1)		Interest Rate of TPS and Debentures(2)(3)
South Plains Financial Capital Trust III	2004	$	10,000	$	10,310		2034	3-mo. LIBOR + 265bps; 4.58%
South Plains Financial Capital Trust IV	2005		20,000		20,619		2035	3-mo. LIBOR + 139bps; 3.28%
South Plains Financial Capital Trust V	2007		15,000		15,464		2037	3-mo. LIBOR + 150bps; 3.39%
Total		$	45,000	$	46,393

(1) May be redeemed five years from the issue date, the Company has no current plans to redeem; (2) Interest payable quarterly with principal due at maturity; (3) Rate as of last reset date.