Securities Sold Under Agreements to Repurchase

9 Months Ended

Sep. 30, 2021

Carrying Value of Securities Sold under Repurchase Agreements and Deposits Received for Securities Loaned [Abstract]

Securities Sold Under Agreements to Repurchase

Securities Sold Under Agreements to Repurchase

Information concerning securities sold under agreements to repurchase is as follows for the periods ended:

	September 30, 2021			December 31, 2020
Amount outstanding at period-end	$	117,001		$	115,372
Average daily balance during the period	$	131,444		$	118,706
Average interest rate during the period	0.05		%	0.15		%
Maximum month-end balance during the period	$	160,865		$	149,844
Weighted average interest rate at period-end	0.04		%	0.05		%

At September 30, 2021 and December 31, 2020, such agreements were secured by investment and mortgage-related securities with an approximate carrying amount of $134,701 and $121,116, respectively. Pledged securities are maintained by safekeeping agents at the direction of the Bank. Our agreements to repurchase generally mature daily, and are considered to be in an overnight and continuous position.