TABLE 6 – REMAINING MATURITY OF CDS $100,000 AND OVER BORROWINGS AND DEBT - The Company may obtain advances from the FHLB of Dallas upon the security of the common stock it owns in that bank and certain of its residential mortgage loans and securities held to maturity, provided certain standards related to creditworthiness have been met. Such advances are made pursuant to several credit programs, each of which has its own interest rate and range of maturities. The Company’s short-term borrowings at December 31, 2002 were comprised of $21.8 million of securities sold under agreements to repurchase and $75.0 million of advances from the FHLB of Dallas. The average amount of short-term borrowings in 2002 was $33.0 million.  The Company’s short-term borrowings of $12.3 million at December 31, 2001 consisted of $8.1 million of securities sold under agreements to repurchase and $4.2 million outstanding on a $15.0 million line of credit with a correspondent bank. Total short-term borrowings increased $84.5 million, or 684.5%, to $96.8 million at December 31, 2002 compared to $12.3 million at December 31, 2001. The weighted average rate on short-term borrowings was 1.36% at December 31, 2002, compared to 2.57% at December 31, 2001. For additional information regarding short-term borrowings, see Note 8 to the Consolidated Financial Statements. At December 31, 2002, the Company’s long-term borrowings increased $44.0 million, or 140.0%, to $75.4 million at December 31, 2002 compared to $31.4 million at December 31, 2001. The majority of the Company’s long-term borrowings, $65.4 million, were comprised of advances from the FHLB of Dallas which cannot be paid off without incurring substantial prepayment penalties. The remaining debt consists of $10.0 million of junior subordinated debt as a result of a $10.0 million trust preferred offering, which closed on November 15, 2002. The trust preferred securities qualify as Tier 1 Capital for regulatory purposes and bear an interest rate equal to three-month LIBOR plus 3.25%. The term of the securities is 30 years, and they are callable at par by the Company anytime after 5 years. Interest is payable quarterly and may be deferred at any time at the election of the Company for up to 20 consecutive quarterly periods. During such period the Company is subject to certain restrictions, including being prohibited from declaring dividends to its common shareholders. For additional information see Note 9 to the Consolidated Financial Statements. SHAREHOLDERS' EQUITY -  Shareholders' equity provides a source of permanent funding, allows for future growth and provides the Company with a cushion to withstand unforeseen adverse developments. At December 31, 2002, shareholders' equity totaled $139.6 million, an increase of $5.2 million from the previous year-end level. The increase in shareholders' equity in 2002 was the result of net income of $18.4 million, $1.8 million of common stock released by the Company's Employee Stock Ownership Plan (“ESOP”) trust, $794,000 of common stock earned by participants of the Company's Recognition and Retention Plan (“RRP”) trust and $1.1 million for the reissuance of treasury stock for stock options exercised. These increases were partially offset by cash dividends declared on the Company’s common stock of $4.4 million, repurchases of $12.6 million of the Company's common stock that were placed into treasury and a $27,000 reduction in other comprehensive income. 25 December 31, (dollars in thousands) 2002 2001 2000 3 months or less $ 45,254 $ 46,846 $ 18,431  Over 3-12 months 68,434 73,735 88,419 Over 12-36 months 25,081 25,134 31,120 More than 36 months 12,157 8,233 3,120 Total $ 150,926 $ 153,948 $ 141,090