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Repurchase Agreements
9 Months Ended
Sep. 30, 2024
Disclosure of Repurchase Agreements [Abstract]  
Repurchase Agreements Repurchase Agreements
The Company transfers various securities to customers in exchange for cash at the end of each business day and agrees to
acquire the securities at the end of the next business day for the cash exchanged plus interest. The process is repeated at the end of each business day until the agreement is terminated. The securities underlying the agreement remained under the Company’s control.
The following tables show repurchase agreements accounted for as secured borrowings and the related securities, at fair value, pledged for repurchase agreements:
September 30, 2024
Remaining Contractual Maturity of the Agreements
Overnight
and
Continuous
Up to 30 Days30-90 DaysGreater Than 90 DaysTotal
Repurchase Agreements and repurchase-to-maturity transactions
Federal agency collateralized mortgage obligations$2,179 $— $— $— $2,179 
Federal agency mortgage–backed pools112,573 — — — 112,573 
Private labeled mortgage–backed pools7,647 — — — 7,647 
Total borrowings$122,399 $— $— $— $122,399 
Repurchase Agreements subject to offsetting arrangements— 
December 31, 2023
Remaining Contractual Maturity of the Agreements
Overnight
and
Continuous
Up to 30 Days30-90 DaysGreater Than 90 DaysTotal
Repurchase Agreements and repurchase-to-maturity transactions
Federal agency collateralized mortgage obligations$2,245 $— $— $— $2,245 
Federal agency mortgage–backed pools126,349 — — — 126,349 
Private labeled mortgage–backed pools7,436 — — — 7,436 
Total borrowings$136,030 $— $— $— $136,030 
Repurchase Agreements subject to offsetting arrangements— 

Securities sold under agreements to repurchase are secured by securities with a carrying amount of $146.9 million and $145.2 million at September 30, 2024 and December 31, 2023, respectively.