SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

12 Months Ended

Dec. 31, 2019

Banking and Thrift, Interest [Abstract]

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

NOTE 11 – 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)		2019			2018
Repurchase agreements, ending balance	$	8,530		$	4,104
Repurchase agreements, average balance during period		4,913			3,340
Book value of collateral		9,031			11,194
Market value of collateral		9,246			11,276
Weighted average rate during period		0.48	%		0.35	%
Weighted average maturity		1 day			1 day