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SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE | 6 Months Ended
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Jun. 30, 2022
Disclosure of Repurchase Agreements [Abstract] |
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE [Text Block] | NOTE 9 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE
Securities sold under agreements to repurchase (repurchase agreements) as of the indicated dates consisted of the following:
| June 30, 2022 |  | December 31, 2021
(In thousands) |  |  |  |  |
Long-term fixed-rate repurchase agreements (1) | $ | 200,000 |  | $ | 300,000
(1) | Weighted-average interest rate of 3.90% and 3.35% as of June 30, 2022 and December 31, 2021, respectively.
The repurchase agreements mature as follows as of the indicated date:
|  |  | June 30, 2022
(In thousands) |
Over one year to three years | $ | 200,000
As of June 30, 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, 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 June 30, 2022 and December 31, 2021, repurchase agreements were overcollateralized. The repurchase agreements as of June 30, 2022, grouped by counterparty, were as follows:
|  |  |  |  | Weighted-Average
Counterparty |  | Amount |  | Maturity (In months)
(Dollars in thousands) |  |  |  |  |
Credit Suisse First Boston |  | $ | 200,000 |  | 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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