LONG-TERM OBLIGATIONS



	Years Ended December 31,
	2013			2012
	(dollars in thousands)
FHLB advances
Balance at end of period	$	499,349		$	369,097
Weighted average interest rate during the period (1)	1.5		%	2.0		%
Interest rate at end of period	1.4		%	1.6		%

Long-term debt (2)
Balance at end of period	$	60,311		$	60,311
Weighted average interest rate during the period (1)	2.4		%	5.1		%
Interest rate at end of period	2.3		%	2.4		%

Maturities of fixed rate long-term obligations based on scheduled repayments at December 31, 2013 are as follows (in thousands):



	Years Ended December 31,
	2014		2015		2016		2017		2018		Thereafter		Total
FHLB advances	$	1,028	$	38,508	$	69,029	$	230,434	$	75,288	$	85,062	$	499,349
Long-term debt	—		—		—		—		—		60,311		60,311
Total long-term obligations	$	1,028	$	38,508	$	69,029	$	230,434	$	75,288	$	145,373	$	559,660

FHLB advances represent borrowings with fixed interest rates ranging from 0.7% to 7.6% and with maturities of one to fifteen years. FHLB advances are collateralized by FHLB stock, nonspecified real estate loans and MBS.



	Years Ended December 31,
	2013		2012
	(in thousands)
Long-term Debt
Southside Statutory Trust III Due 2033 (3)	$	20,619	$	20,619
Southside Statutory Trust IV Due 2037 (4)	23,196		23,196
Southside Statutory Trust V Due 2037 (5)	12,887		12,887
Magnolia Trust Company I Due 2035 (6)	3,609		3,609
Total Long-term Debt	$	60,311	$	60,311


(1)	The weighted average interest rate during the period was computed by dividing the actual interest expense by the average balance outstanding during the period.


(2)	This long-term debt consists of trust preferred securities that qualify under the risk-based capital guidelines as Tier 1 capital, subject to certain limitations.


(3)	This debt carries an adjustable rate of 3.1866% through March 30, 2014 and adjusts quarterly at a rate equal to three-month LIBOR plus 294 basis points.


(4)	This debt carries an adjustable rate of 1.53585% through January 29, 2014 and adjusts quarterly at a rate equal to three-month LIBOR plus 130 basis points.


(5)	This debt carries an adjustable rate of 2.49285% through March 16, 2014 and adjusts quarterly at a rate equal to three-month LIBOR plus 225 basis points.


(6)	This debt carries an adjustable rate of 2.0376% through February 23, 2014 and adjusts quarterly at a rate equal to three-month LIBOR plus 180 basis points.

During 2010 and 2011, we entered into the option to fund between one and a half and two years forward from the advance commitment date $200 million par in long-term advance commitments from the FHLB at the rates on the date the option was purchased. During the year ended December 31, 2012, $150 million par of long-term advance commitments expired unexercised. During the first quarter of 2013, the remaining $50 million par of long-term advance commitments expired unexercised. During the year ended December 31, 2013, no impairment charges were recorded in our income statement. For the years ended December 31, 2012 and 2011, we recorded impairment charges of $2.0 million and $8.9 million, respectively, in our income statement. At December 31, 2012, the FHLB advance option fees were fully impaired. At December 31, 2013, there were no FHLB advance option fees recorded on our balance sheet.