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Securities Sold Under Agreement to Repurchase | 3 Months Ended
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Mar. 31, 2021
Disclosure of Repurchase Agreements [Abstract] |
Securities Sold Under Agreement to Repurchase | Securities Sold Under Agreement to Repurchase The Bank utilizes securities sold under agreement to repurchase with one day maturities as a supplement to funding sources. Securities sold under agreement to repurchase are secured by pledged investment securities available for sale and the Bank is required to maintain an aggregate market value of securities pledged greater than the balance of the s ecurities sold under agreement to repurchase. The Bank is required to pledge additional securities to cover any declines below the balance of the s ecurities sold under agreement to repurchase. For additional information on the total value of investment securities pledged for securities sold under agreement to repurchase see Note (2) Investment Securities. The following table presents the balance of Bank's securities sold under agreement to repurchase obligations by class of collateral pledged at the dates indicated:
| March 31, 2021 |  | December 31, 2020
| (In thousands)
Residential CMO and MBS | $ | 8,083 |  |  | $ | 7,388 |
Commercial CMO and MBS | 28,420 |  |  | 28,295 |
Total | $ | 36,503 |  |  | $ | 35,683 |

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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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