SUBORDINATED DEBENTURES (Tables)

12 Months Ended

Dec. 31, 2014

SUBORDINATED DEBENTURES [Abstract]

Schedule of information regarding subordinated debentures

Summary information regarding subordinated debentures as of December 31 follows:

		2014
				Trust
				Preferred		Common
	Issue	Subordinated		Securities		Stock
Entity Name	Date	Debentures		Issued		Issued
		(In thousands)
IBC Capital Finance III	May 2007	$	12,372	$	12,000	$	372
IBC Capital Finance IV	September 2007		15,465		15,000		465
Midwest Guaranty Trust I	November 2002		7,732		7,500		232
		$	35,569	$	34,500	$	1,069

		2013
				Trust
				Preferred		Common
	Issue	Subordinated		Securities		Stock
Entity Name	Date	Debentures		Issued		Issued
		(In thousands)
IBC Capital Finance III	May 2007	$	12,372	$	12,000	$	372
IBC Capital Finance IV	September 2007		20,619		20,000		619
Midwest Guaranty Trust I	November 2002		7,732		7,500		232
		$	40,723	$	39,500	$	1,223

Schedule of subordinated debentures and trust preferred securities

Other key terms for the subordinated debentures and trust preferred securities that were outstanding at December 31, 2014 follow:

	Maturity		First Permitted
Entity Name	Date	Interest Rate	Redemption Date
IBC Capital Finance III	July 30, 2037	3 month LIBOR plus 1.60%	July 30, 2012
IBC Capital Finance IV	September 15, 2037	3 month LIBOR plus 2.85%	September 15, 2012
Midwest Guaranty Trust I	November 7, 2032	3 month LIBOR plus 3.45%	November 7, 2007