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Securities Sold Under Agreements to Repurchase
 12 Months Ended
Dec. 31, 2019
Banking and Thrift [Abstract]  
Securities Sold Under Agreements to Repurchase SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE
 

The Company utilizes securities sold under agreements to repurchase to facilitate the needs of its customers and to facilitate secured short-term funding needs. Securities sold under agreements to repurchase are stated at the amount of cash received in connection with the transaction. The Company monitors collateral levels on a continuous basis. The Company may be required to provide additional collateral based on the fair value of the underlying securities. Securities pledged as collateral under repurchase agreements are maintained with the Company’s safekeeping agents.
 
The gross amount of recognized liabilities for repurchase agreements was $133.2 million and $95.5 million at December 31, 2019 and 2018, respectively. The remaining contractual maturity of the securities sold under agreements to repurchase in the consolidated balance sheets as of December 31, 2019 and 2018 is presented in the following tables. 
 
 
Remaining Contractual Maturity of the Agreements
(In thousands)
 
Overnight and
Continuous
 
Up to 30 Days
 
30-90 Days
 
Greater than
90 Days
 
Total
December 31, 2019
 
 
 
 
 
 
 
 
 
 
Repurchase agreements:
 
 

 
 

 
 

 
 

 
 

U.S. Government agencies
 
$
133,220

 
$
—

 
$
—

 
$
—

 
$
133,220

 
 
 
 
 
 
 
 
 
 
 
December 31, 2018
 
 

 
 

 
 

 
 

 
 

Repurchase agreements:
 
 

 
 

 
 

 
 

 
 

U.S. Government agencies
 
$
95,542

 
$
—

 
$
—

 
$
—

 
$
95,542