REPURCHASE AGREEMENTS

9 Months Ended

Sep. 30, 2019

REPURCHASE AGREEMENTS.

REPURCHASE AGREEMENTS

6.REPURCHASE AGREEMENTS

Repurchase agreements totaled $6.0 million as of September 30, 2019. Of this, $4.0 million of balances were overnight obligations and $2.0 million of balances had terms extending through May 2021 with a weighted remaining average life of 1.1 years. The Company pledged U.S. government agency securities with a total carrying amount of $12.0 million to secure repurchase agreements as of September 30, 2019.