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Repurchase Agreements

12 Months Ended

Dec. 31, 2019

Disclosure of Repurchase Agreements [Abstract]

Repurchase Agreements

Note 9 – Repurchase Agreements

Securities sold under agreements to repurchase are advances to the Banks by customers or another bank.  These agreements are direct obligations of the Banks and are secured by securities held in safekeeping at a correspondent bank.  Repurchase agreements with the Banks’ customers mature daily.  Information regarding repurchase agreements follows:

(Dollars in thousands)		2019				2018
Outstanding balance at December 31		$	—			$	—
Average interest rate at December 31			—	%			—	%
Average balance during the year		$	—			$	1,412
Average interest rate during the year			—	%			0.05	%
Maximum month end balance during the year		$	—			$	7,148

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- References

No definition available.

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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 860
-URI http://asc.fasb.org/topic&trid=2197590

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