Securities Sold Under Agreements to Repurchase

3 Months Ended

Mar. 31, 2019

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 $489,620,000 and $396,151,000 at March 31, 2019 and December 31, 2018, respectively, and are secured by debt securities with carrying values of $607,780,000 and $511,294,000, 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:

	March 31, 2019
	Remaining Contractual Maturity of the Agreements
(Dollars in thousands)	Overnight and Continuous		Up to 30 Days	Total
U.S. government and federal agency	$	4,402	—	4,402
Residential mortgage-backed securities	397,077		—	397,077
Commercial mortgage-backed securities	88,141		—	88,141
Total	$	489,620	—	489,620

	December 31, 2018
	Remaining Contractual Maturity of the Agreements
(Dollars in thousands)	Overnight and Continuous		Up to 30 Days	Total
Residential mortgage-backed securities	$	328,174	—	328,174
Commercial mortgage-backed securities	66,339		1,638	67,977
Total	$	394,513	1,638	396,151