NOTE 11 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

12 Months Ended

Dec. 31, 2020

NOTE 11 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE

NOTE 11 – 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, (in thousands)		2020			2019
Repurchase agreements, ending balance	$	7,116		$	8,530
Repurchase agreements, average balance during period		7,986			4,913
Book value of collateral		12,632			9,031
Market value of collateral		13,196			9,246
Weighted average rate during period		0.25	%		0.48	%
Weighted average maturity		1 day			1 day