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Securities Sold Under Repurchase Agreements | 12 Months Ended
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Dec. 31, 2017
Securities Sold Under Repurchase Agreements |
Securities Sold Under Repurchase Agreements | (8) Securities Sold Under Repurchase Agreements The Company’s bank subsidiaries have entered into repurchase agreements with an investment banking firm and individual customers of the bank subsidiaries. The purchasers have agreed to resell to the bank subsidiaries identical securities upon the maturities of the agreements. Securities sold under repurchase agreements were mortgage‑backed securities and averaged $402,396,000 and $759,458,000 during 2017 and 2016, respectively, and the maximum amount outstanding at any month end during 2017 and 2016 was $514,616,000 and $819,155,000 respectively. Further information related to repurchase agreements at December 31, 2017 and 2016 is set forth in the following table:
|  | Collateral Securities |  | Repurchase Borrowing |
|  | Book Value of |  | Fair Value of |  | Balance of |  | Weighted Average |
|  | Securities Sold |  | Securities Sold |  | Liability |  | Interest Rate |
|  | (Dollars in Thousands) |
December 31, 2017 term: |  |  |  |  |  |  |  |  |  |  |  |
Overnight agreements |  | $ | 340,054 |  | $ | 334,506 |  | $ | 242,824 |  | 0.25 | %
1 to 29 days |  |  | — |  |  | — |  |  | — |  | — |
30 to 90 days |  |  | 109,300 |  |  | 107,238 |  |  | 100,000 |  | 3.99 |
Over 90 days |  |  | 11,327 |  |  | 11,168 |  |  | 10,981 |  | 0.74 |
Total |  | $ | 460,681 |  | $ | 452,912 |  | $ | 353,805 |  | 1.32 | %
December 31, 2016 term: |  |  |  |  |  |  |  |  |  |  |  |
Overnight agreements |  | $ | 295,282 |  | $ | 292,286 |  | $ | 190,915 |  | 0.15 | %
1 to 29 days |  |  | 10,250 |  |  | 10,148 |  |  | 9,863 |  | 0.50 |
30 to 90 days |  |  | 2,315 |  |  | 2,317 |  |  | 2,300 |  | 0.33 |
Over 90 days |  |  | 382,304 |  |  | 375,060 |  |  | 301,907 |  | 4.01 |
Total |  | $ | 690,151 |  | $ | 679,811 |  | $ | 504,985 |  | 2.46 | %
The book value and fair value of securities sold includes the entire book value and fair value of securities partially or fully pledged under repurchase agreements.

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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 -URI http://asc.fasb.org/topic&trid=2197590 + Details
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- References No definition available. + Details
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