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Subordinated Debentures and Subordinated Notes (Tables)
 12 Months Ended
Dec. 31, 2016
Notes  
Subordinated Borrowing [Line Items]  
Summary of pertinent information related to the Company's junior subordinated debentures outstanding

 

A summary of pertinent information related to the Company’s issues of subordinated Notes outstanding at December 31, 2016 is set forth in the table below:

 

 

 

 

 

 

 

 

 

 

December 31,

 

    

2016

    

2015

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

Subordinated notes fixed to floating rate, 8.50% per annum, maturity date December 15, 2026

 

$
35,000

 

$

 -

Less: unamortized debt issuance costs

 

 
(1,115)

 

 

 -

Total subordinated notes

 

$
33,885

 

$

 -

 

Trust Preferred Securities Subject to Mandatory Redemption [Member]  
Subordinated Borrowing [Line Items]  
Summary of pertinent information related to the Company's junior subordinated debentures outstanding

A summary of pertinent information related to the Company’s two issues of subordinated debentures outstanding at December 31, 2016 is set forth in the table below:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Description

 

Issuance Date

 

Trust Preferred Securities Outstanding

 

Interest Rate(1)

 

Subordinated Debt Owed to Trusts

 

Maturity Date(2)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Patriot Bancshares Capital Trust I

 

March 31, 2006

 

$
5,000

 

3 month LIBOR +1.85%, not to exceed 11.90%

 

$
5,155

 

April 7, 2036

Patriot Bancshares Capital Trust II

 

August 2, 2007

 

$
16,500

 

3 month LIBOR +1.80%, not to exceed 11.90%

 

$
17,011

 

September 15, 2037

 

(1)

The 3-month LIBOR in effect as of December 31, 2016 was 0.998%

(2)

All debentures are callable five years from issuance date