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Subordinated Debentures Held by Subsidiary Trusts (Notes)
9 Months Ended
Sep. 30, 2014
Subordinated Debentures Held by Subsidiary Trusts [Abstract]  
Subordinated Borrowings Disclosure [Text Block]
Subordinated Debentures Held by Subsidiary Trusts

In conjunction with the acquisition of MWFC, the Company acquired sponsorship of two wholly-owned business trusts, MWF Statutory Trust III and MWF Statutory Trust IV (collectively the "Trusts"), which were formed for the exclusive purpose of issuing an aggregate of $19,825 of 30-year floating rate mandatorily redeemable capital trust preferred securities ("Trust Preferred Securities") to third-party investors. The Trusts also issued, in aggregate, $614 of common equity securities to MWFC. Proceeds from the issuance of the Trust Preferred Securities and common equity securities were invested in 30-year junior subordinated deferrable interest debentures ("Subordinated Debentures") issued by MWFC.

MWFC issued $6,006 of Subordinated Debentures to Trust III. The Subordinated Debentures mature on September 26, 2033 and bear a cumulative floating interest rate equal to the three month London Interbank Offered Rate ("LIBOR") plus 3.10% per annum. As of September 30, 2014, the interest rate on the Subordinated Debentures was 3.33%.

MWFC issued $14,433 of Subordinated Debentures to Trust IV. The Subordinated Debentures mature on December 15, 2036 and bear a cumulative floating interest rate equal to the three month LIBOR plus 1.85% per annum. As of September 30, 2014, the interest rate on the Subordinated Debentures was 2.08%.

The Subordinated Debentures are unsecured with interest distributions payable quarterly. Payment of interest may be deferred at any time provided that the deferral period does not extend past the stated maturity. During any such deferral period, distributions on the Trust Preferred Securities will also be deferred and the Company’s ability to pay dividends on its common and preferred shares is restricted. The Subordinated Debentures may be redeemed, subject to approval by the Federal Reserve Bank, on any quarterly redemption date set forth in the agreements.

The terms of the Trust Preferred Securities are identical to those of the Subordinated Debentures. The Trust Preferred Securities are subject to mandatory redemption upon repayment of the Subordinated Debentures at their stated maturity dates or earlier redemption in an amount equal to their liquidation amount plus accumulated and unpaid distributions to the date of redemption. The Company guarantees the payment of distributions and payments for redemption or liquidation of the Trust Preferred Securities to the extent of funds held by the Trusts.

Subject to certain limitations, the Trust Preferred Securities qualify as tier 1 capital of the Parent Company under the Federal Reserve Board’s capital adequacy guidelines. Proceeds from the issuance of the Trust Preferred Securities were used to fund acquisitions.