Repurchase Agreements

9 Months Ended

Sep. 30, 2015

Disclosure of Repurchase Agreements [Abstract]

Repurchase Agreements

NOTE 4: REPURCHASE AGREEMENTS

The following table presents the contractual maturity of our secured borrowings and class of collateral pledged:

	At September 30, 2015
	Remaining Contractual Maturity of the Agreements
	Overnight and						Greater Than
(dollars in thousands)	Continuous		Up to 30 Days		30-90 Days		90 Days		Total
Repurchase Agreements:
Available for Sale:
U.S. Treasury Obligations	$	24,649	$	—	$	—	$	—	$	24,649
U.S. GSEs		15,451						—		15,451
FHLB Obligations		42,278						—		42,278
Agency MBSs		43,848						401		44,249
Agency CMBSs		14,008						—		14,008
Agency CMOs		29,994						—		29,994
Total Available for Sale	$	170,228	$	—	$	—	$	401	$	170,629
(In thousands)
Held to Maturity:
U.S. Agency Obligations	$	13,953	$	—	$	—	$	—	$	13,953
Agency CMOs		64,519		—		—		—		64,519
Agency MBSs		18,694		—		—		—		18,694
Total Held to Maturity	$	97,166	$	—	$	—	$	—	$	97,166

The fair value of securities pledged to secure repurchase agreements may decline. The Company manages this risk by having a policy to pledge securities valued at 100% above the gross outstanding balance of repurchase agreements.