SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

6 Months Ended

Jun. 30, 2022

Disclosure of Repurchase Agreements [Abstract]

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE [Text Block]

NOTE 9 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

Securities sold under agreements to repurchase (repurchase agreements) as of the indicated dates consisted of the following:
		June 30, 2022		December 31, 2021
(In thousands)
Long-term fixed-rate repurchase agreements (1)		$	200,000	$	300,000
(1)	Weighted-average interest rate of 3.90% and 3.35% as of June 30, 2022 and December 31, 2021, respectively.

The repurchase agreements mature as follows as of the indicated date:
	June 30, 2022
(In thousands)
Over one year to three years	$	200,000

As of June 30, 2022 and December 31, 2021, the securities underlying such agreements were delivered to the dealers with which the repurchase agreements were transacted. In accordance with the master agreements, in the event of default, repurchase agreements have a right of set-off against the other party for amounts owed under the related agreement and any other amount or obligation owed with respect to any other agreement or transaction between them. As of June 30, 2022 and December 31, 2021, repurchase agreements were overcollateralized.

The repurchase agreements as of June 30, 2022, grouped by counterparty, were as follows:

			Weighted-Average
Counterparty	Amount		Maturity (In months)
(Dollars in thousands)
Credit Suisse First Boston	$	200,000	31