v3.19.1
Securities Sold Under Agreements to Repurchase
 12 Months Ended
Dec. 31, 2018
Disclosure of Repurchase Agreements [Abstract]  
Securities Sold Under Agreements to Repurchase
Securities Sold Under Agreements to Repurchase
The Company sells securities under repurchase agreements to provide cash management services to commercial account customers. These borrowings are summarized as follows:
Securities Sold Under Agreements to Repurchase
 
 
 
 
(dollars in thousands)
 
2018
 
2017
Average amount outstanding
 
$
10,596

 
$
9,684

Average rate paid during the year
 
1.38
%
 
0.15
%
Maximum amount outstanding at month end
 
$
12,445

 
$
12,472

 
 
 
 
 
Investment securities pledged to secure the underlying agreements at year end:
 
 
 
 
Amortized cost
 
$
16,032

 
$
14,405

Fair value
 
15,862

 
14,475