Repurchase Agreements

6 Months Ended

Jun. 30, 2022

Disclosure of Repurchase Agreements [Abstract]

Repurchase Agreements

Repurchase Agreements

The Company transfers various securities to customers in exchange for cash at the end of each business day and agrees to acquire the securities at the end of the next business day for the cash exchanged plus interest. The process is repeated at the end of each business day until the agreement is terminated. The securities underlying the agreement remained under the Company’s control.

The following table shows repurchase agreements accounted for as secured borrowings and the related securities, at fair value, pledged for repurchase agreements:

	June 30, 2022
	Remaining Contractual Maturity of the Agreements
	Overnight and Continuous		Up to one year		One to three years		Three to five years		Five to ten years		Beyond ten years		Total
Repurchase Agreements and repurchase-to-maturity transactions
Repurchase Agreements	$	143,694	$	—	$	—	$	—	$	—	$	—	$	143,694
Securities pledged for Repurchase Agreements
Federal agency collateralized mortgage obligations	$	18,526	$	—	$	—	$	—	$	—	$	—	$	18,526
Federal agency mortgage–backed pools	125,688		—		—		—		—		—		125,688
Private labeled mortgage–backed pools	10,817		—		—		—		—		—		10,817
Total	$	155,031	$	—	$	—	$	—	$	—	$	—	$	155,031