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Securities Sold Under Agreements to Repurchase | 12 Months Ended
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Dec. 31, 2016
Securities Sold under Agreements to Repurchase [Abstract] |
Securities sold under agreements to repurchase | Securities Sold Under Agreements to Repurchase Securities Sold Under Agreements to Repurchase - Term The Company has entered into wholesale repurchase agreements with certain brokers. At December 31, 2016 and 2015, the Company held $25.0 million in wholesale repurchase agreements with an interest rate of 1.88%. Securities available for sale with a carrying amount of $28.8 million at December 31, 2016 were pledged as collateral for the repurchase agreement borrowings. The broker holds the securities while the Company continues to receive the principal and interest payments from the securities. Upon maturity of the agreement in 2018, the pledged securities will be returned to the Company. Securities Sold Under Agreements to Repurchase - Sweep These sweep repurchase agreements are generally short-term agreements. These agreements are treated as financing transactions and the obligations to repurchase securities sold are reflected as a liability in the Consolidated Financial Statements. The dollar amount of securities underlying the agreements remains in the applicable asset account of the Consolidated Financial Statements. These agreements had a balance of $55.8 million and a weighted average interest rate of 0.11% at December 31, 2016. All of these repurchase agreements in existence at December 31, 2016 mature on a daily basis. Securities available for sale with a carrying amount of $77.7 million at December 31, 2016 were pledged as collateral for the sweep repurchase agreement borrowings.

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- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=64858031&loc=SL6224234-111729 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(m)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
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