SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

12 Months Ended

Dec. 31, 2015

Banking and Thrift [Abstract]

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

NOTE 10 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

Salisbury enters into overnight and short-term repurchase agreements with its customers. Securities sold under repurchase agreements are as follows:

December 31, (in thousands)		2015			2014
Repurchase agreements, ending balance	$	3,914		$	4,163
Repurchase agreements, average balance during period		4,111			4,598
Book value of collateral		7,287			10,034
Market value of collateral		7,349			10,729
Weighted average rate during period		0.17	%		0.18	%
Weighted average maturity		1 day			1 day