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Repurchase Agreements | 12 Months Ended
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Dec. 31, 2016
Disclosure of Repurchase Agreements [Abstract] |
Repurchase Agreements | Note 9 – Repurchase Agreements Securities sold under agreements to repurchase are advances to the Bank by customers or another bank. These agreements are direct obligations of the Bank and are secured by securities held in safekeeping at a correspondent bank. Repurchase agreements with Bank customers mature daily. Information regarding repurchase agreements follows:
(Dollars in thousands) |  | 2016 |  |  | 2015 |
Outstanding balance at December 31 |  | $ | 7,913 |  |  | $ | 9,460 |
Average interest rate at December 31 |  |  | 0.05 | % |  |  | 0.04 | %
Average balance during the year |  | $ | 7,762 |  |  | $ | 17,825 |
Average interest rate during the year |  |  | 0.05 | % |  |  | 0.17 | %
Maximum month end balance during the year |  | $ | 10,539 |  |  | $ | 26,743 |
Repurchase agreements accounted for as secured borrowings as of December 31, 2016 were as follows:
|  | Remaining Contractual Maturity of the Agreements |
(Dollars in thousands) |  | Overnight and |
|  | Continuous |
U.S. Government agencies |  | $ | 13,186 |
Total securities |  |  | 13,186 |
Unsecured borrowings |  |  | — |
Total borrowings |  | $ | 13,186 |

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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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 30 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=64858031&loc=SL6224234-111729 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(m)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
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