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SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE
 9 Months Ended
Sep. 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:
September 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 September 30, 2022 and December 31, 2021, respectively.
The repurchase agreements mature as follows as of the indicated date:
September 30, 2022
(In thousands)
Over one year to three years
$
200,000
As of
 
September
 
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 September
 
30, 2022 and December
 
31, 2021,
repurchase agreements were overcollateralized.
 
The repurchase agreements as of September 30, 2022, grouped by counterparty,
 
were as follows:
Weighted-Average
Counterparty
Amount
Maturity (In months)
(Dollars in thousands)
Credit Suisse First Boston
$
200,000
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