XML 18 R14.htm IDEA: XBRL DOCUMENT
v2.3.0.15

Borrowings | 9 Months Ended
--- | ---
Sep. 30, 2011
Borrowings [Abstract] |
Borrowings | Note 7. Borrowings The following schedule details the Company’s indebtedness at September 30, 2011, and December 31, 2010.
|  | September 30, |  |  | December 31, |
(In Thousands) |  | 2011 |  |  | 2010 |
Securities sold under agreements to repurchase |  | $ | 139,510 |  |  | $ | 140,894 |
FHLB borrowings |  |  | 150,000 |  |  |  | 175,000 |
Subordinated debt |  |  | 15,464 |  |  |  | 15,464 |
Other long-term debt |  |  | 477 |  |  |  | 729 |
Total |  | $ | 305,451 |  |  | $ | 332,087 |
Securities sold under agreements to repurchase consist of $89.51 million and $90.89 million of retail overnight and term repurchase agreements at September 30, 2011, and December 31, 2010, respectively, and $50.00 million of wholesale repurchase agreements at both September 30, 2011, and December 31, 2010. The Company had a derivative interest rate swap instrument where it received LIBOR-based variable interest payments and paid fixed interest payments which expired in January 2011. The instrument effectively fixed $50.00 million of FHLB borrowings at 4.34% for a period of five years. For a more detailed discussion of activities regarding derivatives, please see Note 13 to the Consolidated Financial Statements. FHLB borrowings included $150.00 million in convertible and callable advances at September 30, 2011, and $175.00 million at December 31, 2010. During the first quarter of 2011, the Company prepaid a $25.00 million FHLB advance. The weighted average interest rate of all the advances was 4.12% at September 30, 2011, and 2.39% at December 31, 2010. At September 30, 2011, the FHLB advances have approximate contractual maturities between five and ten years. The scheduled maturities of the advances are as follows:
(In Thousands) |  | Amount |
2011 |  | $ | — |
2012 |  |  | — |
2013 |  |  | — |
2014 |  |  | — |
2015 |  |  | — |
2016 and thereafter |  |  | 150,000 |
Total |  | $ | 150,000 |
The callable advances may be redeemed at quarterly intervals after various lockout periods. These call options may substantially shorten the lives of these instruments. If these advances are called, the debt may be paid in full or converted to another FHLB credit product. Prepayment of the advances may result in substantial penalties based upon the differential between contractual note rates and current advance rates for similar maturities. At September 30, 2011, advances from the FHLB were secured by qualifying loans of $337.29 million. Also included in other indebtedness is $15.46 million of junior subordinated debentures (the “Debentures”) issued by the Company in October 2003 to an unconsolidated trust subsidiary, FCBI Capital Trust (the “Trust”), with an interest rate of three-month LIBOR plus 2.95%. The Trust was able to purchase the Debentures through the issuance of trust preferred securities which had substantially identical terms as the Debentures. The Debentures mature on October 8, 2033, and are currently callable. The Company’s obligations under the Debentures and other relevant Trust agreements, in aggregate, constitute a full and unconditional guarantee by the Company of the Trust’s obligations.

X
- Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration