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Other Borrowings (Tables)
12 Months Ended
Dec. 31, 2015
Other Borrowings  
Schedule of other borrowings

 

 

 

 

 

 

 

 

 

 

December 31,

 

(Dollars in thousands)

 

2015

 

2014

 

SCBT Capital Trust III junior subordinated debt with a fixed interest rate of 5.92% until September 15, 2015 and thereafter at a rate equal to the three-month LIBOR rate plus a spread of 159 basis points adjusted quarterly; matures on July 18, 2035, and can be called by the issuer without penalty on or after September 15, 2012 for the outstanding principal plus any accrued and unpaid interest. Guaranteed by the Company on a subordinated basis.

 

$

20,619

 

$

20,619

 

SCBT Capital Trust I junior subordinated debt with a variable interest rate equal to the three-month LIBOR rate plus a spread of 179 basis points adjusted quarterly; matures on June 15, 2035, and can be called by the issuer without penalty on or after June 30, 2010 for the principal outstanding plus any accrued and unpaid interest. Guaranteed by the Company on a subordinated basis.

 

 

12,372

 

 

12,372

 

SCBT Capital Trust II junior subordinated debt with a fixed interest rate of 6.37% until June 15, 2010 and thereafter at a rate equal to the three-month LIBOR rate plus a spread of 179 basis points adjusted quarterly; matures on June 15, 2035, and can be called by the issuer without penalty on or after June 30, 2010 for the principal outstanding plus any accrued and unpaid interest. Guaranteed by the Company on a subordinated basis.

 

 

8,248

 

 

8,248

 

SAVB Capital Trust I junior subordinated debt with a variable interest rate equal to the three-month LIBOR rate plus a spread of 285 basis points adjusted quarterly; matures on October 7, 2033, and can be called by the issuer without penalty on or after October 7, 2008 for the principal outstanding plus any accrued and unpaid interest; net of discount of $228 on December 31, 2015. Guaranteed by the Company on a subordinated basis.

 

 

5,958

 

 

5,844

 

SAVB Capital Trust II junior subordinated debt with a variable interest rate equal to the three-month LIBOR rate plus a spread of 220 basis points adjusted quarterly; matures on December 15, 2034, and can be called by the issuer without penalty on or after December 15, 2009 for the principal outstanding plus any accrued and unpaid interest; net of discount of $198 on December 31, 2015. Guaranteed by the Company on a subordinated basis.

 

 

3,926

 

 

3,828

 

TSB Statutory Trust I junior subordinated debt with a variable interest rate of three-month LIBOR plus 172 basis points and pays interest quarterly; rate is subject to quarterly resets; matures on March 14, 2037, and can be called by the issuer without penalty on or after December 15, 2011. Guaranteed by the Company on a subordinated basis.

 

 

3,093

 

 

3,093

 

FFCH Capital Trust I junior subordinated debt with a fixed interest rate of 7.00% and pays interest quarterly; matures on April 6, 2034, and redeemed by the Company on January 7, 2015 for the principal outstanding plus accrued interest. Guaranteed by the Company on a subordinated basis.

    

 

 —

    

 

46,258

 

Other

 

 

942

 

 

948

 

 

 

$

55,158

 

$

101,210

 

 

Summary of principal maturities of other borrowings

 

 

 

 

 

 

 

 

 

 

 

 

    

Junior

    

 

 

    

 

 

 

 

 

Subordinated

 

 

 

 

 

 

 

(Dollars in thousands)

 

Debt

 

Other

Total

 

Year Ended December 31,

 

 

 

 

 

 

 

 

 

 

2016

 

$

 —

 

$

6

 

$

6

 

2017

 

 

 —

 

 

7

 

 

7

 

2018

 

 

 —

 

 

7

 

 

7

 

2019

 

 

 —

 

 

7

 

 

7

 

2020

 

 

 —

 

 

7

 

 

7

 

Thereafter

 

 

54,216

 

 

908

 

 

55,124

 

 

 

$

54,216

 

$

942

 

$

55,158