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Subordinated Debentures (Tables)
 12 Months Ended
Dec. 31, 2015
Subordinated Debentures [Abstract]  
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, 2015 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 8, 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, 2015 was 0.613%

(2)

All debentures are callable five years from issuance date