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SECURITIES SOLD UNDER REVERSE REPURCHASE AGREEMENTS AND SHORT-TERM BORROWINGS | 9 Months Ended
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Sep. 30, 2023
SECURITIES SOLD UNDER REVERSE REPURCHASE AGREEMENTS AND SHORT-TERM BORROWINGS |
SECURITIES SOLD UNDER REVERSE REPURCHASE AGREEMENTS AND SHORT-TERM BORROWINGS | NOTE 12: SECURITIES SOLD UNDER REVERSE REPURCHASE AGREEMENTS AND SHORT-TERM BORROWINGS ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, |  | December 31,
​ | ​ | 2023 | ​ | 2022
​ | ​ | (In Thousands)
Notes payable – Community Development Equity Funds |  | $ | 1,610 |  | $ | 1,083
Securities sold under reverse repurchase agreements | ​ |  | 58,172 | ​ |  | 176,843
Overnight borrowings from the Federal Home Loan Bank | ​ | ​ | 82,500 | ​ | ​ | 88,500
​ | ​ | $ | 142,282 | ​ | $ | 266,426
​ The Bank enters into sales of securities under agreements to repurchase (reverse repurchase agreements). Reverse repurchase agreements are treated as financings, and the obligations to repurchase securities sold are reflected as a liability in the statements of financial condition. The dollar amount of securities underlying the agreements remains in the asset accounts. Securities underlying the agreements are being held by the Bank during the agreement period. All agreements are written on a term of one month or less. The following table represents the Company’s securities sold under reverse repurchase agreements, by collateral type and remaining contractual maturity. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2023 | ​ | December 31, 2022
​ | ​ | Overnight and | ​ | Overnight and
​ |  | Continuous |  | Continuous
​ | ​ | (In Thousands)
Mortgage-backed securities – GNMA, FNMA, FHLMC | ​ | $ | 58,172 | ​ | $ | 176,843
​

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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 -Topic 860 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//860/tableOfContent + Details
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