Note 7 - Securities Sold Under Agreements to Repurchase

9 Months Ended

Sep. 30, 2018

Notes to Financial Statements

Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block]

( 7 ) 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

$53.9

million and

$70.5

million at

September 30, 2018

and

December 31, 2017,

respectively. Bancorp enters into sales of securities under agreement to repurchase at a specified future date. At

September 30, 2018,

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.