DEPOSITS & REPURCHASE AGREEMENTS

3 Months Ended

Mar. 31, 2017

NOTE 6 — DEPOSITS & REPURCHASE AGREEMENTS


	March 31,		December 31,
	2017		2016
Non-interest-bearing demand	$	812,301	$	767,159
Interest-bearing demand		1,141,042		1,163,010
Savings		783,344		749,391
Certificates of deposit of $250 or more		66,052		65,815
Other certificates and time deposits		352,398		365,496
Total deposits	$	3,155,137	$	3,110,871

The Company has entered into repurchase agreements with some of its customers. The agreements are one day in length. At March 31, 2017, these agreements totaled $37,530 and were secured by a pledged amount of $54,072 of mortgage backed securities. At December 31, 2016, these agreements totaled $38,339 and were secured by a pledged amount of $58,001. 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.