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Federal Funds Purchased and Securities Sold Under Agreements to Repurchase | 6 Months Ended
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Jun. 30, 2020
Brokers And Dealers [Abstract] |
Federal Funds Purchased and Securities Sold Under Agreements to Repurchase | NOTE 7 FEDERAL FUNDS PURCHASED AND SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE The Company had no Federal Funds purchased as of June 30, 2020 and $17.8 million as of December 31, 2019, respectively. During the same time periods, the Company also had $30.9 million and $30.2 million in securities sold under agreement to repurchase.
|  | June 30, 2020 |
|  | Remaining Contractual Maturity of the Agreements (In Thousands) |
|  | Overnight & Continuous |  |  | Up to 30 days |  |  | 30-90 days |  |  | Greater Than 90 days |  |  | Total |
Federal funds purchased |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Repurchase agreements |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasury & agency securities |  |  | 2,568 |  |  |  | - |  |  |  | - |  |  |  | 28,381 |  |  |  | 30,949 |
|  | $ | 2,568 |  |  | $ | - |  |  | $ | - |  |  | $ | 28,381 |  |  | $ | 30,949 |
|  | December 31, 2019 |
|  | Remaining Contractual Maturity of the Agreements (In Thousands) |
|  | Overnight & Continuous |  |  | Up to 30 days |  |  | 30-90 days |  |  | Greater Than 90 days |  |  | Total |
Federal funds purchased |  | $ | 17,843 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 17,843 |
Repurchase agreements |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
US Treasury & agency securities |  |  | 1,814 |  |  |  | - |  |  |  | 3,965 |  |  |  | 24,451 |  |  |  | 30,230 |
|  | $ | 19,657 |  |  | $ | - |  |  | $ | 3,965 |  |  | $ | 24,451 |  |  | $ | 48,073 |

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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 + Details
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