Subordinated Debt

6 Months Ended

Jun. 30, 2012

Subordinated Debt

Subordinated Debt

11) Subordinated Debt

        The table below summarizes the Company's subordinated debt as of the periods indicated:

	June 30, 2012		December 31, 2011
	(Dollars in thousands)
Subordinated debentures due to Heritage Capital Trust I with interest payable semi-annually at 10.875%, redeemable with a premium beginning March 8, 2010 and with no premium beginning March 8, 2020, due March 8, 2030	$	7,217	$	7,217
Subordinated debentures due to Heritage Statutory Trust I with interest payable semi-annually at 10.60%, redeemable with a premium beginning September 7, 2010 and with no premium beginning September 7, 2020, due September 7, 2030		7,206		7,206
Subordinated debentures due to Heritage Statutory Trust II with interest payable quarterly based on 3-month Libor plus 3.58% (4.04% at June 30, 2012), redeemable with a premium beginning July 31, 2006 and with no premium beginning July 31, 2011, due July 31, 2031		5,155		5,155
Subordinated debentures due to Heritage Statutory Trust III with interest payable quarterly based on 3-month Libor plus 3.40% (3.86% at June 30, 2012), redeemable with no premium beginning September 26, 2007 and due September 26, 2032		4,124		4,124
Total	$	23,702	$	23,702

        For regulatory reporting purposes, the Company's subordinated debt qualifies for Tier 1 capital treatment.