DEPOSITS & REPURCHASE AGREEMENTS

6 Months Ended

Jun. 30, 2016

NOTE 6 — DEPOSITS & REPURCHASE AGREEMENTS


	June 30,		December 31,
	2016		2015
Non-interest-bearing demand	$	677,654	$	641,439
Interest-bearing demand		1,179,926		1,084,786
Savings		757,506		599,729
Certificates of deposit of $250 or more		63,063		73,493
Other certificates and time deposits		421,210		251,328
Total deposits	$	3,099,359	$	2,650,775

The Company has entered into repurchase agreements with some of its customers. The agreements are one day in length. At June 30, 2016, these agreements totaled $20,916 and were secured by a pledged amount of $44,131 of mortgage backed securities. At December 31, 2015, these agreements totaled $28,363 and were secured by a pledged amount of $48,662. Management monitors the fair value of the securities on a regular basis. If the fair value of the securities declined to an amount approximating these agreements, more securities would be pledged.