REPURCHASE AGREEMENTS

3 Months Ended

Mar. 31, 2020

REPURCHASE AGREEMENTS

REPURCHASE AGREEMENTS AND OTHER BORROWINGS

6.   REPURCHASE AGREEMENTS

Repurchase agreements totaled $5.4 million as of March 31, 2020. Of this, $3.4 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 0.6 years. The Company pledged both U.S. treasury securities and U.S. government agency securities with a combined total carrying amount of $11.9 million to secure repurchase agreements as of March 31, 2020.