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SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

3 Months Ended

Mar. 31, 2022

Disclosure of Repurchase Agreements [Abstract]

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE [Text Block]

NOTE 10 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

Securities sold under agreements to repurchase (repurchase agreements) as of the dates indicated consisted of the following:

		March, 31			December 31,
		2022			2021
(In thousands)

Long-term fixed-rate repurchase agreement (1)		$	200,000		$	300,000
(1)	Weighted-average interest rate of 3.90% and 3.35% as of March 31, 2022 and December 31, 2021, respectively.

Repurchase agreements mature as follows as of the indicated date:
		March 31, 2022
(In thousands)

Over three years to five years		$	200,000

As of March 31, 2022 and December 31, 2021, the securities underlying such agreements were delivered to the dealers with which the repurchase agreements were transacted. In accordance with the master agreements, in the event of default, securities sold under agreements to repurchase (repurchase agreements) have a right of set-off against the other party for amounts owed under the related agreement and any other amount or obligation owed with respect to any other agreement or transaction between them. As of March 31, 2022 and December 31, 2021, repurchase agreements are overcollateralized

Repurchase agreements as of March 31, 2022, grouped by counterparty, were as follows:


(Dollars in thousands)				Weighted-Average
Counterparty	Amount			Maturity (In Months)

Credit Suisse First Boston	$	200,000		34