Repurchase Agreements Accounted for as Secured Borrowings

6 Months Ended

Jun. 30, 2015

Transfers and Servicing [Abstract]

Repurchase Agreements Accounted for as Secured Borrowings

Repurchase Agreements Accounted for as Secured Borrowings

Repurchase agreements are short term borrowings included in FHLB Advances and Other Borrowings and mature overnight and continuously. Repurchase agreements totaled $14,093 as of June 30, 2015 and were secured by mortgage-backed securities. Risk could arise when the collateral pledged to repurchase agreement declines in fair value. The Company minimizes risk by consistently monitoring the value of the collateral pledged. At the point in time where the collateral has declined in fair value, the Company is required to provide additional collateral based on the value of the underlying securities.