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JUNIOR SUBORDINATED DEBENTURES (Tables)
12 Months Ended
Dec. 31, 2013
Brokers And Dealers [Abstract]  
Schedule of Junior Subordinated Debentures

A summary of pertinent information related to the Company’s nine issues of junior subordinated debentures outstanding at December 31, 2013 is set forth in the table below:

 

Description

  Issuance Date   Trust
Preferred
Securities
Outstanding
    Interest Rate(1)   Junior
Subordinated
Debt Owed
to Trusts
    Maturity Date(2)
    (Dollars in thousands)

Prosperity Statutory Trust II

  July 31, 2001   $ 15,000      3 month LIBOR

+ 3.58%, not to exceed
12.50%

  $ 15,464      July 31, 2031

Prosperity Statutory Trust III

  August 15, 2003     12,500      3 month LIBOR + 3.00%     12,887      September 17, 2033

Prosperity Statutory Trust IV

  December 30, 2003     12,500      3 month LIBOR + 2.85%     12,887      December 30, 2033

SNB Capital Trust IV

  September 25, 2003     10,000      3 month LIBOR + 3.00%     10,310      September 25, 2033

TXUI Statutory Trust II

  December 19, 2003     5,000      3 month LIBOR + 2.85%     5,155      December 19, 2033

TXUI Statutory Trust III

  November 30, 2005     15,500      3 month LIBOR + 1.39%     15,980      December 15, 2035

TXUI Statutory Trust IV

  March 31, 2006     12,000      3 month LIBOR + 1.39%     12,372      June 30, 2036

FVNB Capital Trust II(3)

  June 14, 2005     18,000      3 month LIBOR + 1.68%     18,557      June 15, 2035

FVNB Capital Trust III(3)

  June 23, 2006     20,000      3 month LIBOR + 1.60%     20,619      July 7, 2036
       

 

 

   
        $ 124,231     
       

 

 

   

 

(1) The 3-month LIBOR in effect as of December 31, 2013 was 0.244%.
(2) All debentures are callable five years from issuance date.
(3) Assumed in connection with the FVNB acquisition on November 1, 2013.