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Securities Sold Under Repurchase Agreements | 12 Months Ended
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Dec. 31, 2024
Securities Sold Under Repurchase Agreements |
Securities Sold Under Repurchase Agreements | (7) Securities Sold Under Repurchase Agreements Our Subsidiary Banks have entered into repurchase agreements with individual customers of the Subsidiary Banks. The purchasers have agreed to resell to the Subsidiary Banks identical securities upon the maturities of the agreements. Securities sold under repurchase agreements were mortgage-backed securities and averaged $616,208,000 and $469,152,000 during 2024 and 2023, respectively, and the maximum amount outstanding at any month end during 2024 and 2023 was $713,772,000 and $544,418,000, respectively. Further information related to repurchase agreements at December 31, 2024 and 2023 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, 2024 term: |  | ​ |  |  | ​ |  |  | ​ |  |  |  | ​
Overnight agreements | ​ | $ | 775,760 | ​ | $ | 687,091 | ​ | $ | 523,152 |  | 3.09 | %
1 to 29 days | ​ |  | 15,872 | ​ |  | 13,604 | ​ |  | 11,100 |  | 4.75 | ​
30 to 90 days | ​ |  | — | ​ |  | — | ​ |  | — |  | — | ​
Over 90 days | ​ |  | 1,914 | ​ |  | 1,871 | ​ |  | 1,070 |  | 4.00 | ​
Total | ​ | $ | 793,546 | ​ | $ | 702,566 | ​ | $ | 535,322 |  | 3.12 | %
December 31, 2023 term: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Overnight agreements | ​ | $ | 667,647 | ​ | $ | 587,673 | ​ | $ | 518,650 |  | 3.76 | %
1 to 29 days | ​ |  | 24,842 | ​ |  | 20,454 | ​ |  | 10,696 |  | 4.50 | ​
30 to 90 days | ​ |  | — | ​ |  | — | ​ |  | — |  | — | ​
Over 90 days | ​ |  | 1,623 | ​ |  | 1,574 | ​ |  | 1,070 |  | 4.00 | ​
Total | ​ | $ | 694,112 | ​ | $ | 609,701 | ​ | $ | 530,416 |  | 3.78 | %
​ 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/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 + Details
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