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Repurchase Agreements (Tables)
 12 Months Ended
Dec. 31, 2020
Repurchase Agreements  
Schedule of Repurchase Agreements

The following is a summary of the balances and collateral of the Company’s repurchase agreements:

 

(Dollars in thousands)  Years ended December 31, 
   2020   2019 
Average daily balance during the year  $11,066   $15,695 
Average interest rate during the year   0.20%   0.62%
Maximum month-end balance during the year  $17,939   $17,548 
Weighted average interest rate at year-end   0.18%   0.47%

 

   As of December 31, 2020 
   Overnight and   Up to       Greater     
   Continuous   30 days   30-90 days   than 90 days   Total 
Repurchase agreements:                         
U.S. federal agency obligations  $2,412   $-   $-   $-   $2,412 
Agency mortgage-backed securities   3,959    -    -    -    3,959 
Total  $6,371   $-   $-   $-   $6,371 

 

   As of December 31, 2019 
   Overnight and   Up to       Greater     
   Continuous   30 days   30-90 days   than 90 days   Total 
Repurchase agreements:                         
U.S. federal treasury obligations  $789   $-   $-   $-   $789 
U.S. federal agency obligations   1,978    -    -    -    1,978 
Agency mortgage-backed securities   14,781    -    -    -    14,781 
Total  $17,548   $-   $-   $-   $17,548