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Securities Sold Under Agreements To Repurchase
 12 Months Ended
Dec. 31, 2021
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, 2021 and 2020:
(dollars in thousands)Repurchase AmountWeighted Average Interest RateCarrying Value of Underlying AssetsMarket Value of Underlying Assets
December 31, 2021$492,247 0.04 %$625,543 $625,543 
December 31, 2020$375,384 0.07 %$464,855 $464,855 

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 $455.0 million, $370.0 million, and $299.6 million for the years ended December 31, 2021, 2020, and 2019, respectively. The maximum amount outstanding at any month end for the years ended December 31, 2021, 2020, and 2019, was $537.6 million, $398.4 million, and $336.8 million, respectively. Investment securities are pledged as collateral in an amount equal to or greater than the repurchase agreements.