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Securities Sold Under Agreement to Repurchase
 3 Months Ended
Mar. 31, 2020
Disclosure of Repurchase Agreements [Abstract]  
Securities Sold Under Agreement to Repurchase
Securities Sold Under Agreement to Repurchase
The Company utilizes securities sold under agreement to repurchase with one day maturities secured by pledged investment securities available for sale as a supplement to funding sources. For additional information on the total value of investment securities pledged for securities sold under agreement to repurchase see Note (2) Investment Securities.
The following table presents the Company's securities sold under agreement to repurchase obligations by class of collateral pledged at the dates indicated:
 
March 31, 2020
 
December 31, 2019
 
(In thousands)
Mortgage-backed securities and collateralized mortgage obligations (1):
 
 
 
Residential
$
2,621

 
$
8,452

Commercial
9,171

 
11,717

Securities sold under agreement to repurchase
$
11,792

 
$
20,169

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