SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

6 Months Ended

Jun. 30, 2016

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE.

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

NOTE 6: SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

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

	At June 30, 2016
	Remaining Contractual Maturity of the Agreements
	Overnight and						Greater Than
(In thousands)	Continuous		Up to 30 Days		30-90 Days		90 Days		Total
Repurchase Agreements:
Available for Sale:
U.S. Treasury Obligations	$	22,320	$	—	$	—	$	—	$	22,320
U.S. GSEs		12,191		—		—		—		12,191
FHLB Obligations		34,476		—		—		—		34,476
Agency MBSs		24,798		—		—		—		24,798
Agency CMBSs		11,325		—		—		—		11,325
Agency CMOs		12,822		—		—		—		12,822
Total Available for Sale	$	117,932	$	—	$	—	$	—	$	117,932
(In thousands)
Held to Maturity:
U.S. Agency Obligations	$	12,134	$	—	$	—	$	—	$	12,134
Agency CMOs		40,743		—		—		—		40,743
Agency MBSs		14,111		—		—		—		14,111
Total Held to Maturity	$	66,988	$	—	$	—	$	—	$	66,988

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 above the gross outstanding balance of repurchase agreements. Securities sold under agreements to repurchase are secured by securities with a carrying value of $185.04 million at June 30, 2016 and $287.27 million at December 31, 2015.