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:
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Description
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Issuance Date |
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Trust
Preferred
Securities
Outstanding |
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Interest Rate(1) |
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Junior
Subordinated
Debt Owed
to Trusts |
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|
Maturity Date(2) |
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|
(Dollars in
thousands) |
Prosperity Statutory
Trust II
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July 31, 2001 |
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$ |
15,000 |
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3 month
LIBOR
+ 3.58%,
not to exceed
12.50%
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$ |
15,464 |
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July 31, 2031 |
Prosperity Statutory
Trust III
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August 15,
2003 |
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12,500 |
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3 month LIBOR + 3.00% |
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12,887 |
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September 17, 2033 |
Prosperity Statutory
Trust IV
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December 30,
2003 |
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12,500 |
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3 month LIBOR +
2.85% |
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12,887 |
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December 30,
2033 |
SNB Capital Trust
IV
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September 25, 2003 |
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10,000 |
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3 month LIBOR +
3.00% |
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10,310 |
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September 25,
2033 |
TXUI Statutory Trust
II
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December 19,
2003 |
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5,000 |
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3 month LIBOR +
2.85% |
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5,155 |
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December 19,
2033 |
TXUI Statutory Trust
III
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November 30,
2005 |
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15,500 |
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3 month LIBOR +
1.39% |
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15,980 |
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December 15,
2035 |
TXUI Statutory Trust
IV
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March 31,
2006 |
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12,000 |
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3 month LIBOR +
1.39% |
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12,372 |
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June 30, 2036 |
FVNB Capital Trust
II(3)
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June 14, 2005 |
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18,000 |
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3 month LIBOR +
1.68% |
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18,557 |
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June 15, 2035 |
FVNB Capital Trust
III(3)
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June 23, 2006 |
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20,000 |
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3 month LIBOR +
1.60% |
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20,619 |
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July 7, 2036 |
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$ |
124,231 |
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(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. |
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