SUBORDINATED DEBENTURES AND SUBORDINATED NOTES (Tables)

6 Months Ended

Jun. 30, 2018

Subordinated Borrowings [Abstract]

Summary of pertinent information related to subordinated notes outstanding

A summary of pertinent information related to the Company’s two issues of subordinated debentures outstanding at June 30, 2018 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 June 30, 2018 was 2.336%.

⁽²⁾  All debentures are callable five years from issuance date.

A summary of pertinent information related to the Company’s issues of subordinated Notes outstanding as of the dates indicated were as follows:

	June 30, 2018			December 31, 2017
	(Dollars in thousands)
Subordinated notes fixed to floating rate, 8.50% per annum, maturity date December 15, 2026	$	35,000		$	35,000
Less: unamortized debt issuance costs	(1,218		)	(1,291		)
Total subordinated notes	$	33,782		$	33,709