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Securities Sold Under Agreements to Repurchase
3 Months Ended
Mar. 31, 2020
Transfers and Servicing [Abstract]  
Securities Sold Under Agreements to Repurchase SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE
Securities sold under agreements to repurchase are secured borrowings.  Old National pledges investment securities to secure these borrowings. The following table presents securities sold under agreements to repurchase and related weighted-average interest rates:
At or for the Three Months Ended
(dollars in thousands)March 31,
2020
December 31,
2019
March 31,
2019
Outstanding at period end$318,067  $327,782  $342,480  
Average amount outstanding during the period329,091  337,786  361,261  
Maximum amount outstanding at any month-end during the period
318,067  337,185  367,884  
Weighted-average interest rate:
During the period0.47 %0.55 %0.74 %
At period end0.22 %0.53 %0.79 %
The following table presents the contractual maturity of our secured borrowings and class of collateral pledged:
 At March 31, 2020
 Remaining Contractual Maturity of the Agreements
(dollars in thousands)Overnight and ContinuousUp to
30 Days
 30-90 DaysGreater Than 90 daysTotal
Repurchase Agreements:     
U.S. Treasury and agency securities$318,067  $—  $—  $—  $318,067  
Total$318,067  $—  $—  $—  $318,067  
The fair value of securities pledged to secure repurchase agreements may decline.  Old National has pledged securities valued at 121% of the gross outstanding balance of repurchase agreements at March 31, 2020 to manage this risk.