NOTE

11:

OTHER BORROWINGS AND SUBORDINATED DEBENTURES

Debt at

September 30, 2017

and

December 31, 2016

consisted of the following components:

(In thousands)	September 30, 2017		December 31, 2016

Other Borrowings
FHLB advances, net of discount, due 2017 to 2033, 1.15% to 7.37% secured by residential real estate loans	$	477,982	$	225,230
Notes payable, due 10/15/2020, 3.85%, fixed rate, unsecured		44,559		47,929
Total other borrowings		522,541		273,159

Subordinated Debentures
Trust preferred securities, due 12/30/2033, floating rate of 2.80% above the three month LIBOR rate, reset quarterly, callable without penalty		20,620		20,620
Trust preferred securities, net of discount, due 6/30/2035, floating rate of 1.75% above the three month LIBOR rate, reset quarterly, callable without penalty		9,301		9,225
Trust preferred securities, net of discount, due 9/15/2037, floating rate of 1.37% above the three month LIBOR rate, reset quarterly		10,246		10,130
Trust preferred securities, net of discount, due 12/3/2033, floating rate of 2.88% above the three month LIBOR rate, reset quarterly, callable without penalty		5,157		5,161
Trust preferred securities, net of discount, due 12/13/2034, floating rate of 2.00% above the three month LIBOR rate, reset quarterly, callable without penalty		5,137		5,105
Trust preferred securities, net of discount, due 6/6/2037, floating rate of 1.57% above the three month LIBOR rate, reset quarterly, callable without penalty		10,255		10,156
Trust preferred securities, net of discount, due 12/15/2035, floating rate of 1.45% above the three month LIBOR rate, reset quarterly, callable without penalty		6,702		--
Total subordinated debentures		67,418		60,397
Total other borrowings and subordinated debentures	$	589,959	$	333,556

The Company had

$442.0

million of Federal Home Loan Bank (“FHLB”) advances with original maturities of

one

year or less at

September 30, 2017

and

$180.0

million at

December 31, 2016.

The Company had total FHLB advances of

$478.0

million at

September 30, 2017,

with approximately

$1.075

billion of additional advances available from the FHLB. The FHLB advances are secured by mortgage loans and investment securities totaling approximately

$2.014

billion at

September 30, 2017.

The trust preferred securities are tax-advantaged issues that qualify for Tier

capital treatment. Distributions on these securities are included in interest expense on long-term debt. Each of the trusts is a statutory business trust organized for the sole purpose of issuing trust securities and investing the proceeds thereof in junior subordinated debentures of the Company, the sole asset of each trust. The preferred securities of each trust represent preferred beneficial interests in the assets of the respective trusts and are subject to mandatory redemption upon payment of the junior subordinated debentures held by the trust. The common securities of each trust are wholly-owned by the Company. Each trust’s ability to pay amounts due on the trust preferred securities is solely dependent upon the Company making payment on the related junior subordinated debentures. The Company’s obligations under the junior subordinated securities and other relevant trust agreements, in aggregate, constitute a full and unconditional guarantee by the Company of each respective trust’s obligations under the trust securities issued by each respective trust.

Aggregate annual maturities of long-term debt at

September 30, 2017,

are:

Year	(In thousands)

2017	$	1,851
2018		23,863
2019		7,586
2020		36,343
2021		2,251
Thereafter		76,065
Total	$	147,959