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Short-Term Borrowings | 9 Months Ended
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Sep. 30, 2021
Short-term Debt [Abstract] |
Short-Term Borrowings | Short-Term Borrowings Period–end short-term borrowings were comprised of the following:
(Dollar amounts in thousands) |  | September 30, 2021 |  | December 31, 2020
Federal Funds Purchased |  | $ | 1,575 |  |  | $ | 6,500 |
Repurchase Agreements |  | 99,476 |  |  | 109,561 |
|  | $ | 101,051 |  |  | $ | 116,061 |
The Corporation enters into sales of securities under agreements to repurchase. The amounts received under these agreements represent short-term borrowings and are reflected as a liability in the consolidated balance sheets. The securities underlying these agreements are included in investment securities in the consolidated balance sheets. The Corporation has no control over the market value of the securities, which fluctuates due to market conditions. However, the Corporation is obligated to promptly transfer additional securities if the market value of the securities falls below the repurchase agreement price. The Corporation manages this risk by maintaining an unpledged securities portfolio that it believes is sufficient to cover a decline in the market value of the securities sold under agreements to repurchase. Collateral pledged to repurchase agreements by remaining maturity are as follows:
|  | September 30, 2021
Repurchase Agreements |  | Remaining Contractual Maturity of the Agreements
(Dollar amounts in thousands) |  | Overnight and continuous |  | Up to 30 days |  | 30 - 90 days |  | Greater than 90 days |  | Total
Mortgage Backed Securities - Residential and Collateralized Mortgage Obligations |  | $ | 92,952 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,524 |  |  | $ | 99,476 |
|  | December 31, 2020
Repurchase Agreements |  | Remaining Contractual Maturity of the Agreements
(Dollar amounts in thousands) |  | Overnight and continuous |  | Up to 30 days |  | 30 - 90 days |  | Greater than 90 days |  | Total
Mortgage Backed Securities - Residential and Collateralized Mortgage Obligations |  | $ | 86,335 |  |  | $ | 1,086 |  |  | $ | 21,342 |  |  | $ | 798 |  |  | $ | 109,561 |

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- Definition The entire disclosure for short-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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