SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (Tables)

12 Months Ended

Dec. 31, 2016

Disclosure of Repurchase Agreements [Abstract]

Summary of Securities Sold under Agreements to Repurchase

The contractual maturity of securities sold under agreements to repurchase by collateral pledged as of December 31, 2016 and 2015 is as follows (in thousands):



	December 31, 2016
	Overnight and Continuous			Up to 1 Year			1 - 3 Years			3+ Years		Total
Obligations of U.S. Government and U.S. Government sponsored enterprises	$	—		$	1,276		$	—		$	—	$	1,276
Mortgage-backed securities, residential	13,092			9,664			14,244			—		37,000
Total	13,092			10,940			14,244			—		38,276
Excess collateral held	(5,486		)	(940		)	(4,244		)	—		(10,670		)
Gross amount of recognized liabilities for repurchase agreements	$	7,606		$	10,000		$	10,000		$	—	$	27,606



	December 31, 2015
	Overnight and Continuous			Up to 1 Year			1 - 3 Years			3+ Years		Total
Obligations of U.S. Government and U.S. Government sponsored enterprises	$	12,163		$	1,781		$	9,323		$	—	$	23,267
Mortgage-backed securities, residential	8,280			9,174			3,135			—		20,589
Total	20,443			10,955			12,458			—		43,856
Excess collateral held	(11,990		)	(955		)	(2,458		)	—		(15,403		)
Gross amount of recognized liabilities for repurchase agreements	$	8,453		$	10,000		$	10,000		$	—	$	28,453

A summary of securities sold under agreements to repurchase as of and for the years ended December 31, 2016, 2015 and 2014 is as follows (in thousands):



	2016			2015			2014
Balance at December 31	$	27,606		$	28,453		$	29,652
Maximum month-end balance	$	30,497		$	32,145		$	31,914
Average balance during year	$	29,120		$	30,236		$	30,667
Weighted-average interest rate at December 31	3.02		%	2.93		%	2.82		%
Average interest rate paid during year	2.92		%	2.80		%	2.77		%