XML 35 R21.htm IDEA: XBRL DOCUMENT v3.22.4
Securities Sold Under Agreements to Repurchase
 12 Months Ended
Dec. 31, 2022
Disclosure of Repurchase Agreements [Abstract]  
Securities Sold Under Agreements to Repurchase Securities Sold Under Agreement to Repurchase
The Company 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. Under the securities sold under agreement to repurchase, the Company is required to maintain an aggregate market value of securities pledged greater than the balance of the securities sold under agreement to repurchase. The Company is required to pledge additional securities to cover any declines below the balance of the securities 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 the Company's securities sold under agreement to repurchase obligations by class of collateral pledged at the dates indicated:
December 31, 2022December 31, 2021
(In thousands)
U.S. Treasury and U.S. Government-sponsored agencies$— $4,914 
Residential CMO and MBS— 4,134 
Commercial CMO and MBS46,597 41,791 
Total$46,597 $50,839