Repurchase Agreements

The Company utilizes repurchase agreements with one-day maturities as a supplement to funding sources. Repurchase agreements are secured by pledged investment securities available for sale. Under the repurchase agreements, the Company is required to maintain an aggregate market value of securities pledged greater than the balance of the repurchase agreements. The Company is required to pledge additional securities to cover any declines below the balance of the repurchase agreements. For additional information on the total value of investment securities pledged for repurchase agreements see Note (2) Investment Securities.

The following table presents the Company's repurchase agreement obligations by class of collateral pledged:



	June 30, 2017		December 31, 2016
	(In thousands)
U.S. Treasury and U.S. Government-sponsored agencies	$	754	$	2,944
Mortgage-backed securities and collateralized mortgage obligations⁽¹⁾:
Residential	12,399		5,191
Commercial	8,102		13,969
Total repurchase agreements	$	21,255	$	22,104

⁽¹⁾ Issued and guaranteed by U.S. Government-sponsored agencies.