Securities Sold Under Agreements to Repurchase

3 Months Ended

Mar. 31, 2015

Securities Sold Under Agreements to Repurchase.

Securities Sold Under Agreements to Repurchase

(4)Securities Sold Under Agreements to Repurchase

Securities sold under agreements to repurchase, which represent excess funds from commercial customers as part of a cash management service, totaled $59.9 million and $69.6 million at March 31, 2015 and December 31, 2014, respectively.  Bancorp enters into sales of securities under agreement to repurchase at a specified future date.  At March 31, 2015, all of these financing arrangements had overnight maturities and were secured by government sponsored enterprise obligations and government agency mortgage-backed securities which were owned and under the control of Bancorp.