LONG-TERM OBLIGATIONS

Long-term obligations at December 31 include:



(Dollars in thousands)	2015			2014
Junior subordinated debenture at 3-month LIBOR plus 1.75 percent maturing June 30, 2036	$	96,392		$	96,392
Junior subordinated debenture at 3-month LIBOR plus 2.25 percent maturing June 15, 2034	25,774			26,547
Junior subordinated debenture at 3-month LIBOR plus 2.85 percent maturing April 7, 2034	10,310			10,310
Subordinated notes payable 8.00 percent June 1, 2018	15,000			15,000
Obligations under capitalized leases extending to July 2026	9,226			3,150
Notes payable to Federal Home Loan Bank of Atlanta with rates ranging from 2.00 percent to 3.58 percent and maturing through March 2024	510,252			160,268
Note payable to the Federal Home Loan Bank of Des Moines⁽¹⁾ with a rate of 4.74 percent and a maturity date of July 2017	10,000			10,000
Unamortized purchase accounting adjustments	(2,907		)	(466		)
Other long-term debt	30,108			30,119
Total long-term obligations	$	704,155		$	351,320

⁽¹⁾The Federal Home Loan Bank (FHLB) of Seattle merged with and into the FHLB of Des Moines effective May 31, 2015. As a result, the note payable to the FHLB of Seattle at December 31, 2014 was owed to the FHLB of Des Moines at December 31, 2015.

At December 31, 2015, long-term obligations included $132.5 million in junior subordinated debentures representing obligations to FCB/NC Capital Trust III, FCB/SC Capital Trust II, and SCB Capital Trust I, special purpose entities and grantor trusts for $128.5 million of trust preferred securities. FCB/NC Capital Trust III, FCB/SC Capital Trust II and SCB Capital Trust I's (the Trusts) trust preferred securities mature in 2036, 2034 and 2034, respectively, and may be redeemed at par in whole or in part at any time. BancShares has guaranteed all obligations of the Trusts.

Long-term obligations maturing in each of the five years subsequent to December 31, 2015 and thereafter, include:



	Year ended December 31
2016	$	3,401
2017	13,440
2018	135,232
2019	246
2020	261
Thereafter	551,575
Total long-term obligations	$	704,155