Securities Sold Under Agreements to Repurchase

6 Months Ended

Jun. 30, 2017

Transfers and Servicing [Abstract]

Securities Sold Under Agreements to Repurchase

Securities Sold Under Agreements to Repurchase

The Company’s securities sold under agreements to repurchase (“repurchase agreements”) totaled $451,050,000 and $473,650,000 at June 30, 2017 and December 31, 2016, respectively, and are secured by investment securities with carrying values of $533,428,000 and $472,239,000, respectively. Securities are pledged to customers at the time of the transaction in an amount at least equal to the outstanding balance and are held in custody accounts by third parties. The fair value of collateral is continually monitored and additional collateral is provided as deemed appropriate.

The following tables summarize the carrying value of the Company’s repurchase agreements by remaining contractual maturity and category of collateral:

	June 30, 2017
	Remaining Contractual Maturity of the Agreements
(Dollars in thousands)	Overnight and Continuous		Up to 30 Days	Total
Residential mortgage-backed securities	$	440,955	—	440,955
Commercial mortgage-backed securities	10,095		—	10,095
Total	$	451,050	—	451,050

	December 31, 2016
	Remaining Contractual Maturity of the Agreements
(Dollars in thousands)	Overnight and Continuous		Up to 30 Days	Total
Residential mortgage-backed securities	$	471,706	643	472,349
Commercial mortgage-backed securities	1,301		—	1,301
Total	$	473,007	643	473,650