BORROWINGS, SUBORDINATED DEBENTURES AND BROKERED DEPOSITS (Tables)

6 Months Ended

Jun. 30, 2013

BORROWINGS, SUBORDINATED DEBENTURES AND BROKERED DEPOSITS

Schedule of borrowings outstanding

	June 30, 2013					December 31, 2012
	Amount		Rate			Amount		Rate
	(Dollars in thousands)
Non-recourse debt	$	9,696		6.30	%	$	12,591		6.28	%

Summary of the terms of each issuance of the subordinated debentures outstanding

							December 31, 2012
	June 30, 2013
												Date Issued		Maturity Date			Next Reset Date
Series	Amount			Rate(1)			Amount		Rate(2)							Rate Index
	(Dollars in thousands)
Trust V	$	10,310			3.37	%	$	10,310		3.41	%		8/15/03		9/17/33	3 month LIBOR + 3.10		9/13/13
Trust VI		10,310			3.32	%		10,310		3.36	%		9/3/03		9/15/33	3 month LIBOR + 3.05		9/12/13
Trust CII		5,155			3.22	%		5,155		3.26	%		9/17/03		9/17/33	3 month LIBOR + 2.95		9/13/13
Trust VII		61,856			3.02	%		61,856		3.05	%		2/5/04		4/23/34	3 month LIBOR + 2.75		10/28/13
Trust CIII		20,619			1.96	%		20,619		2.00	%		8/15/05		9/15/35	3 month LIBOR + 1.69		9/12/13
Trust FCCI(3)		16,495			1.87	%		—		—			1/25/07		3/15/37	3 month LIBOR + 1.60		9/12/13
Trust FCBI(3)		10,310			1.82	%		—		—			9/30/05		12/15/35	3 month LIBOR + 1.55		9/12/13
Gross subordinated debentures		135,055						108,250
Unamortized discount(4)		(2,697	)					—
Net subordinated debentures	$	132,358					$	108,250

(1)

As of July 26, 2013.

(2)

As of January 28, 2013.

(3)

Acquired in the FCAL acquisition.

(4)

Amount represents the fair value adjustment on trusts acquired in the FCAL acquisition.