SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

12 Months Ended

Dec. 31, 2016

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)		2016			2015
Repurchase agreements, ending balance	$	5,535		$	3,914
Repurchase agreements, average balance during period		3,770			4,111
Book value of collateral		5,507			7,287
Market value of collateral		5,540			7,349
Weighted average rate during period		0.16	%		0.17	%
Weighted average maturity		1 day			1 day