XML 35 R19.htm IDEA: XBRL DOCUMENT
v3.20.4

Federal Funds Purchased and Securities Sold Under Agreements to Repurchase | 12 Months Ended
--- | ---
Dec. 31, 2020
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase |
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase | Note 11—Federal Funds Purchased and Securities Sold Under Agreements to Repurchase Federal funds purchased and securities sold under agreements to repurchase generally mature within one to three days from the transaction date, but may have maturities as long as nine months per our policies. Certain of the borrowings have no defined maturity date. Information concerning federal funds purchased and securities sold under agreements to repurchase are below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, |
​ | ​ | 2020 | ​ | 2019 | ​ | 2018 |
(Dollars in thousands) | ​ | Amount | ​ | Rate | ​ | Amount | ​ | Rate | ​ | Amount | ​ | Rate |
At period-end: |  | ​ |  |  |  |  | ​ |  |  |  |  | ​ |  |  |  | ​
Federal funds purchased and securities sold under repurchase agreements | ​ | $ | 779,666 |  | 0.17 | % | $ | 298,741 |  | 0.90 | % | $ | 270,649 |  | 1.08 | %
Average for the year: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal funds purchased and securities sold under repurchase agreements | ​ | $ | 553,110 |  | 0.35 | % | $ | 282,172 |  | 0.93 | % | $ | 312,768 |  | 0.75 | %
Maximum month-end balance: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Federal funds purchased and securities sold under repurchase agreements | ​ | $ | 779,666 | ​ | ​ | ​ | $ | 321,833 | ​ | ​ | ​ | $ | 362,047 | ​ | ​ | ​
​ Securities Sold Under Agreements to Repurchase ​ Securities sold under agreements to repurchase (“repurchase agreements”) represent funds received from customers, generally on an overnight or continuous basis, which are collateralized by investment securities owned or, at times, borrowed and re-hypothecated by the Company. Repurchase agreements are subject to terms and conditions of the master repurchase agreements between the Company and the client and are accounted for as secured borrowings. The Company monitors the fair value of the underlying securities on a daily basis. Some securities underlying these agreements include arrangements to resell securities from broker-dealers approved by the Company. Repurchase agreements are reflected at the amount of cash received in connection with the transaction and included in federal funds purchased and securities sold under agreements to repurchase on the consolidated balance sheets. ​ At December 31, 2020 and December 31, 2019, the Company’s repurchase agreements totaled $394.9 million and $242.2 million, respectively. All of the Company’s repurchase agreements were overnight or continuous (until-further-notice) agreements at December 31, 2020 and December 31, 2019. These borrowings were collateralized with government, government-sponsored enterprise, or state and political subdivision-issued securities with a carrying value of $515.9 million and $242.2 million at December 31, 2020 and December 31, 2019, respectively. Declines in the value of the collateral would require the Company to increase the amounts of securities pledged.

X
- Definition The entire disclosure for repurchase agreements (also known as repos), resale agreements (also known as reverse repurchase agreements or reverse repos), securities borrowed transactions, and securities loaned transactions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -URI http://asc.fasb.org/topic&trid=2197590 + Details
Name: | us-gaap_RepurchaseAgreementsResaleAgreementsSecuritiesBorrowedAndSecuritiesLoanedDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SecuritiesFinancingTransactionsDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration