NOTE 11 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

12 Months Ended

Dec. 31, 2021

NOTE 11 – 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)		2021			2020
Repurchase agreements, ending balance	$	11,430		$	7,116
Repurchase agreements, average balance during period		10,679			7,986
Book value of collateral		17,084			12,632
Market value of collateral		17,469			13,196
Weighted average rate during period		0.15	%		0.25	%
Weighted average maturity		1 day			1 day