OTHER BORROWINGS (Tables)

9 Months Ended

Sep. 30, 2015

Debt Disclosure [Abstract]

OTHER BORROWINGS

Other borrowings consist of the following:

 

(Dollars in Thousands)	September 30, 2015		December 31, 2014		September 30, 2014
Daily Rate Credit from Federal Home Loan Bank with a fixed interest rate of 0.36%	$	-	$	35,000	$	75,000
Advance from Federal Home Loan Bank with a fixed interest rate of 0.16%, due October 24, 2014		-		-		25,000
Advances under revolving credit agreement with a regional bank with interest at 90-day LIBOR plus 3.50% (3.78% at September 30, 2015 and 3.73% at December 31, 2014 and September 30, 2014) due in August 2016, secured by subsidiary bank stock		24,000		24,000		22,500
Advance from correspondent bank with a fixed interest rate of 4.50%, due November 27, 2017, secured by subsidiary bank loan receivable		-		4,881		4,909
Subordinated debt issued by Prosperity Bank due June 2016 with an interest rate of 90-day LIBOR plus 1.60% (1.83% at September 30, 2014)		-		-		5,000
Subordinated debt issued by The Prosperity Banking Company due September 2016 with an interest rate of 90-day LIBOR plus 1.75% (2.09% at September 30, 2015, 1.99% at December 31, 2014 and 1.98% at September 30, 2014)		15,000		15,000		15,000
Total	$	39,000	$	78,881	$	147,409