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Securities Sold Under Agreements to Repurchase

9 Months Ended

Sep. 30, 2024

Securities Sold under Agreements to Repurchase [Abstract]

Securities Sold Under Agreements to Repurchase

9. Securities Sold Under Agreements to Repurchase

At September 30, 2024 and December 31, 2023, securities sold under agreements to repurchase totaled $179.4 million and $142.1 million, respectively. For the three-month periods ended September 30, 2024 and 2023, securities sold under agreements to repurchase daily weighted-average totaled $157.2 million and $154.7 million, respectively. For the nine-month periods ended September 30, 2024 and 2023, securities sold under agreements to repurchase daily weighted-average totaled $163.0 million and $144.6 million, respectively.

The remaining contractual maturity of securities sold under agreements to repurchase in the consolidated balance sheets as of September 30, 2024 and December 31, 2023 is presented in the following table:

			September 30, 2024												December 31, 2023
			Overnight and Continuous						Total						Overnight and Continuous						Total
			(In thousands)
Securities sold under agreements to repurchase:
U.S. government-sponsored enterprises			$	9,964					$	9,964					$	—					$	—
Mortgage-backed securities			51,314						51,314						—						—
State and political subdivisions			21,808						21,808						—						—
Other securities			96,330						96,330						142,085						142,085
Total borrowings			$	179,416					$	179,416					$	142,085					$	142,085

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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/disclosureRef
-Topic 860
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481420/860-30-50-10

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 860
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/860/tableOfContent

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- References

No definition available.

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