Borrowings (Policy)

12 Months Ended

Dec. 31, 2019

Borrowings [Abstract]

Repurchase Agreements, Policy

The Bank has repurchase agreements with some of its depositors, under which customers’ funds are invested daily into an interest bearing account. These funds are carried by the Company as short-term debt. It is the Company’s policy to completely collateralize repurchase agreements with U.S. Government securities.