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 (3) Investment Securities.

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



	December 31, 2018		December 31, 2017
	(In thousands)
U.S. Treasury and U.S. Government-sponsored agencies	$	4,878	$	—
Mortgage-backed securities and collateralized mortgage obligations ⁽¹⁾:
Residential	9,335		11,239
Commercial	17,274		20,582
Total repurchase agreements	$	31,487	$	31,821

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