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Borrowings | 12 Months Ended
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Dec. 31, 2019
Debt Disclosure [Abstract] |
Borrowings | end, advances from the FHLB were as follows:
| December 31,
| 2019 |  | 2018
| Contractual Rate |  | Amount |  | Contractual Rate |  | Amount
Fixed-rate advance from FHLB, due within 1 year | — | % |  | $ | — |  |  | 2.51 | % |  | $ | 20,000 |
The Company maintains a collateral pledge agreement covering secured advances whereby the Company has agreed to keep on hand, free of all other pledges, liens, and encumbrances, specifically identified whole first mortgages on improved residential property not more than 90-days delinquent to secure advances from the FHLB. All of the Bank’s FHLB common stock is pledged as additional collateral for these advances. At December 31, 2019, $32.5 million and $406.0 million of first mortgage and multi-family mortgage loans, respectively, collateralized potential advances. At December 31, 2019, we had the ability to borrow an additional $367.7 million under our credit facilities with the FHLB. The Company also had available pre-approved overnight federal funds borrowing. At December 31, 2019 and 2018, there was no outstanding balance on these lines. 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, 2019 |  |  |  |  |  |  |  |  |  |
Repurchase agreements and repurchase-to-maturity transactions |  | $ | 61 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 61 |
Gross amount of recognized liabilities for repurchase agreements in Statement of Financial Condition |  | $ | 61 |
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 |
Securities sold under agreements to repurchase were secured by mortgage-backed securities with a carrying amount of $2.0 million and $2.7 million at December 31, 2019 and 2018, 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.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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