DEPOSITS & REPURCHASE AGREEMENTS

9 Months Ended

Sep. 30, 2016

NOTE 6 — DEPOSITS & REPURCHASE AGREEMENTS


	September 30,		December 31,
	2016		2015
Non-interest-bearing demand	$	705,428	$	641,439
Interest-bearing demand		1,132,290		1,084,786
Savings		756,069		599,729
Certificates of deposit of $250 or more		139,006		73,493
Other certificates and time deposits		391,235		251,328
Total deposits	$	3,124,028	$	2,650,775

The Company has entered into repurchase agreements with some of its customers. The agreements are one day in length. At September 30, 2016, these agreements totaled $34,076 and were secured by a pledged amount of $50,844 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.