SUBORDINATED DEBENTURES (Tables)

9 Months Ended

Sep. 30, 2017

Subordinated Borrowings [Abstract]

Schedule of Subordinated Borrowing

A summary of pertinent information related to the Company’s issues of junior subordinated debentures outstanding at September 30, 2017 is set forth in the table below:

Description	Issuance Date	Trust Preferred Securities Outstanding		Interest Rate(1)	Junior Subordinated Debt Owed to Trusts		Maturity Date(2)
(Dollars in thousands)
Farmers & Merchants Capital Trust II	November 13, 2003	$	7,500	3 month LIBOR + 3.00%	$	7,732	November 8, 2033
Farmers & Merchants Capital Trust III	June 30, 2005	3,500		3 month LIBOR + 1.80%	3,609		July 7, 2035
					$	11,341

(1) The 3-month LIBOR in effect as of September 30, 2017 was 1.3233%.

(2) All debentures are currently callable.