DEPOSITS & REPURCHASE AGREEMENTS

9 Months Ended

Sep. 30, 2017

NOTE 6 — DEPOSITS & REPURCHASE AGREEMENTS


	September 30,		December 31,
	2017		2016
Non-interest-bearing demand	$	838,490	$	767,159
Interest-bearing demand		1,202,796		1,163,010
Savings		842,333		749,391
Certificates of deposit of $250 or more		121,353		65,815
Other certificates and time deposits		417,015		365,496
Total deposits	$	3,421,987	$	3,110,871

The Company has entered into repurchase agreements with some of its customers. The agreements are one day in length. At September 30, 2017, these agreements totaled $41,688 and were secured by a pledged amount of $56,590 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.