SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

12 Months Ended

Dec. 31, 2018

Banking and Thrift [Abstract]

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

NOTE 10 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

Salisbury enters into overnight and short-term repurchase agreements with its customers. Securities sold under repurchase agreements are as follows:

December 31, (dollars in thousands)		2018			2017
Repurchase agreements, ending balance	$	4,104		$	1,668
Repurchase agreements, average balance during period		3,340			2,517
Book value of collateral		11,194			4,737
Market value of collateral		11,276			4,725
Weighted average rate during period		0.35	%		0.20	%
Weighted average maturity		1 day			1 day