SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

3 Months Ended

Mar. 31, 2019

Disclosure of Repurchase Agreements [Abstract]

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE [Text Block]

NOTE 16 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

Securities sold under agreements to repurchase (repurchase agreements) as of the dates indicated consisted of the following:

		March, 31		December 31,
		2019		2018
(Dollars in thousands)

Short-term fixed-rate repurchase agreement, interest rate of 2.85%		$	-	$	50,086
Long-term fixed-rate repurchase agreement, interest rate of 2.26% ⁽¹⁾⁽²⁾			100,000		100,000
		$	100,000	$	150,086

(1)	Reported net of securities purchased under agreements to repurchase (reverse repurchase agreements) by counterparty, when applicable, pursuant to ASC Topic 210-20-45-11.
(2)	Subsequent to March 31, 2019, the lender has not exercised its call option on this callable repurchase agreement.

Repurchase agreements mature as follows:

		March 31, 2019
		(In thousands)

	One to three years	$	100,000

As of March 31, 2019 and December 31, 2018, the securities underlying such agreements were delivered to the dealers with which the repurchase agreements were transacted.

Repurchase agreements as of March 31, 2019, grouped by counterparty, were as follows:


	(Dollars in thousands)			Weighted-Average
	Counterparty	Amount		Maturity (In Months)

	JP Morgan Chase	$	100,000	34