SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (Tables)

12 Months Ended

Dec. 31, 2019

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

Schedule of securities sold under agreements to repurchase

December 31,  (dollars in thousands)	2019			2018
Outstanding balance at end of period	$	167,617		$	182,990
Weighted average interest rate at end of period		0.32	%		0.83	%
Fair value of securities pledged:
U.S. Treasury securities and U.S. Government agencies	$	70,015		$	110,854
Mortgage backed securities - residential		134,265			84,657
Collateralized mortgage obligations		17,030			10,136
Total securities pledged	$	221,310		$	205,647

Additional information regarding securities sold under agreements to repurchase for the years ended December 31, 2019, 2018 and 2017 follows:

Years Ended December 31,  (in thousands)	2019			2018			2017
Average outstanding balance during the period	$	236,883		$	225,145		$	219,515
Average interest rate during the period		0.51	%		0.50	%		0.23	%
Maximum outstanding at any month end during the period	$	276,927		$	260,147		$	293,944