SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (REPURCHASE AGREEMENTS)

6 Months Ended

Jun. 30, 2023

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (REPURCHASE AGREEMENTS)[Abstract]

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (REPURCHASE AGREEMENTS)

NOTE 9 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (REPURCHASE AGREEMENTS)

Repurchase agreements as of the indicated dates consisted of the following:

June 30, 2023

December 31, 2022

(In thousands)

Short-term Fixed-rate repurchase agreements

(1)

$

73,934

$

75,133

(1)

Weighted-average interest rate of

5.35

% and

4.55

% as of June 30, 2023 and December 31, 2022, respectively.

Repurchase agreements mature as follows as of the indicated date:

June 30, 2023

(In thousands)

Within one month

$

23,934

Over one month to three months

$

50,000

 Total

$

73,934

As of June 30, 2023 and December 31, 2022, 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, 2023 and December 31, 2022, repurchase agreements

were fully collateralized and not offset in the consolidated statements of financial condition.

Repurchase agreements as of June 30, 2023, grouped by counterparty, were as follows:

Weighted-Average

Counterparty

Amount

Maturity (In Months)

(Dollars in thousands)

JP Morgan Chase

$

73,934

1