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Securities Sold Under Agreement to Repurchase Securities Sold Under Agreement to Repurchase
 12 Months Ended
Dec. 31, 2018
Banking and Thrift [Abstract]  
Securities Sold Under Agreement to Repurchase
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE
Securities sold under agreements to repurchase are shown below.
 
 
Overnight and Continuous
 
Up to 30 days
 
30 - 90 days
 
Greater Than 90 days
 
Total
December 31, 2018
 
 
 
 
 
 
 
 
 
 
Repurchase agreements and repurchase-to-maturity transactions
 
$
1,049

 
$
—

 
$
—

 
$
—

 
$
1,049

Gross amount of recognized liabilities for repurchase agreements in Statement of Financial Condition
 
$
1,049

 
 
 
 
 
 
 
 
 
 
 
December 31, 2017
 
 
 
 
 
 
 
 
 
 
Repurchase agreements and repurchase-to-maturity transactions
 
$
768

 
$
—

 
$
—

 
$
—

 
$
768

Gross amount of recognized liabilities for repurchase agreements in Statement of Financial Condition
 
$
768


Securities sold under agreements to repurchase were secured by mortgage-backed securities with a carrying amount of $2.7 million and $3.7 million at December 31, 2018 and 2017, respectively. Also included in total borrowings were advances from the FHLB of $20.0 million and $60.0 million at December 31, 2018 and 2017, respectively.
As the securities’ values fluctuate due to market conditions, the Company has no control over the market value.  The Company is obligated to promptly transfer additional securities if the market value of the securities falls below the repurchase price, per the agreement.