Securities Sold Under Agreements To Repurchase

12 Months Ended

Dec. 31, 2017

Investments, Debt and Equity Securities [Abstract]

Securities Sold Under Agreements To Repurchase

Securities Sold Under Agreements to Repurchase

The following table presents information regarding securities sold under agreements to repurchase at December 31, 2017 and 2016:

(dollars in thousands)	Repurchase Amount		Weighted Average Interest Rate		Carrying Value of Underlying Assets		Market Value of Underlying Assets
December 31, 2017	$	294,299	0.06	%	$	353,327	$	353,327
December 31, 2016	$	352,948	0.04	%	$	409,927	$	409,927

The securities underlying agreements to repurchase entered into by the Bank are for the same securities originally sold, with a one-day maturity. In all cases, the Bank maintains control over the securities. Securities sold under agreements to repurchase averaged approximately $316.1 million, $333.9 million, and $321.1 million for the years ended December 31, 2017, 2016 and 2015, respectively. The maximum amount outstanding at any month end for the years ended December 31, 2017, 2016 and 2015, was $334.9 million, $360.2 million, and $334.6 million, respectively. Investment securities are pledged as collateral in an amount equal to or greater than the repurchase agreements.