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SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

6 Months Ended

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