11.	JUNIOR SUBORDINATED DEBENTURES

A description of the junior subordinated debentures outstanding is as follows (in thousands):

					December 31,
Date Issued	Maturity Date	Interest Rate		Callable After	2012		2011
February 22, 2001	February 22, 2031		10.20%	February 22, 2011	$	7,217	$	7,217
July 31, 2001 ¹	July 9, 2031	3 month LIBOR plus 3.30%		July 31, 2006		5,671		-
September 20, 2004	September 20, 2034	3 month LIBOR plus 2.50%		September 20, 2009		8,248		8,248
October 12, 2006 ¹	October 12, 2036	3 month LIBOR plus 1.85%		June 26, 2011		5,155		-
June 21, 2007¹	June 21, 2037	3 month LIBOR plus 1.70%		June 15, 2012		3,093		-
					$	29,384	$	15,465

(1) Assumed in PSB acquisition.

The trusts are considered variable-interest entities ("VIE"). The Trusts are not consolidated with the Company since the Company is not the primary beneficiary of the VIE. Accordingly, the Company does not report the securities issued by the Trusts as liabilities, and instead reports as liabilities the junior subordinated debentures issued by the Company and held by the Trusts, as these are not eliminated in the consolidation. The Trust Preferred Securities are recorded as junior subordinated debentures on the balance sheets, but subject to certain limitations qualify for Tier 1 capital for regulatory capital purposes.