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SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE | 6 Months Ended
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Jun. 30, 2019
Disclosure of Repurchase Agreements [Abstract] |
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE | NOTE 17 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE
Securities sold under agreements to repurchase (repurchase agreements) as of the dates indicated consisted of the following:
| June 30, 2019 |  | December 31, 2018
(Dollars in thousands) |  |  |  |  |
Short-term fixed-rate repurchase agreement (1) | $ | - |  | $ | 50,086
Long-term fixed-rate repurchase agreements (2)(3)(4) |  | 100,000 |  |  | 100,000
|  | $ | 100,000 |  | $ | 150,086
Interest rate of 2.85%.Interest rate of 2.26%.Reported net of securities purchased under agreements to repurchase (reverse repurchase agreements) by counterparty, when applicable, pursuant to ASC Topic 210-20-45-11.Subsequent to June 30, 2019, the lender has not exercised its call option on this callable repurchase agreement.
Repurchase agreements mature as follows:
|  |  | June 30, 2019
|  |  | (In thousands)
| One to three years | $ | 100,000
As of June 30, 2019 and December 31, 2018, the securities underlying such agreements were delivered to the dealers with which the repurchase agreements were transacted. Repurchase agreements as of June 30, 2019, grouped by counterparty, were as follows:
|  | (Dollars in thousands) |  |  |  |  | Weighted-Average |
|  | Counterparty |  | Amount |  | Maturity (In Months) |
|  | JP Morgan Chase |  | $ | 100,000 |  | 31 |

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -URI http://asc.fasb.org/topic&trid=2197590 + Details
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