SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

3 Months Ended

Mar. 31, 2017

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE.

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

NOTE 5: SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

The following table presents the contractual maturity of our secured borrowings and class of collateral pledged at March 31, 2017:

	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	$	10,064	$	—	$	—	$	—	$	10,064
U.S. GSEs		47,745		—		—		—		47,745
FHLB Obligations		58,519		—		—		—		58,519
Agency MBSs		33,553		—		—		—		33,553
Agency CMBSs		18,961		—		—		—		18,961
Agency CMOs		23,928		—		—		—		23,928
Total Available for Sale	$	192,770	$	—	$	—	$	—	$	192,770
(In thousands)
Held to Maturity:
U.S. Agency Obligations	$	14,714	$	—	$	—	$	—	$	14,714
Agency CMOs		42,098		—		—		—		42,098
Total Held to Maturity	$	56,812	$	—	$	—	$	—	$	56,812

The following table presents the contractual maturity of our secured borrowings and class of collateral pledged at December 31, 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	$	24,207	$	—	$	—	$	—	$	24,207
U.S. GSEs		51,847		—		—		—		51,847
FHLB Obligations		59,505		—		—		—		59,505
Agency MBSs		44,736		—		—		—		44,736
Agency CMBSs		21,662		—		—		—		21,662
Agency CMOs		40,007		—		—		—		40,007
Total Available for Sale	$	241,964	$	—	$	—	$	—	$	241,964
(In thousands)
Held to Maturity:
U.S. Agency Obligations	$	16,646	$	—	$	—	$	—	$	16,646
Agency CMOs		53,508		—		—		—		53,508
Total Held to Maturity	$	70,154	$	—	$	—	$	—	$	70,154

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 greater than the gross outstanding balance of repurchase agreements. Securities sold under agreements to repurchase are secured by securities with a carrying value of $249.68 million at March 31, 2017 and $312.23 million at December 31, 2016.