SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

12 Months Ended

Dec. 31, 2017

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, (dollars in thousands)		2017			2016
Repurchase agreements, ending balance	$	1,668		$	5,535
Repurchase agreements, average balance during period		2,517			3,770
Book value of collateral		4,737			5,507
Market value of collateral		4,725			5,540
Weighted average rate during period		0.20	%		0.16	%
Weighted average maturity		1 day			1 day