BORROWING ARRANGEMENTS (Tables)

12 Months Ended

Dec. 31, 2021

BORROWING ARRANGEMENTS [Abstract]

Short-Term Borrowings

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

	2021		2020
Federal funds purchased	$	—	$	26,550
FHLB advances - short-term		—		—
Total	$	—	$	26,550

FHLB Advances

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

Issue Date	Original Amount of Advance		2021 Balance		2020 Balance		Maturity Date		Interest Rate at December 31, 2020
2013	$	20,000	$	—	$	—		2020	Fixed; 1.50%
2015		25,000		—		25,000		2025	Variable; 0.19%
2015		25,000		—		25,000		2025	Variable; 0.19%
2015		25,000		—		25,000		2025	Variable; 0.23%
	$	95,000	$	—	$	75,000

Debentures and Trust Preferred Securities

The following table is a detail of the debentures and TPS at December 31, 2021:

	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; 2.77%
South Plains Financial Capital Trust IV	2005		20,000		20,619		2035	3-mo. LIBOR + 139bps; 1.59%
South Plains Financial Capital Trust V	2007		15,000		15,464		2037	3-mo. LIBOR + 150bps; 1.70%
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.