SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (Tables)

6 Months Ended

Jun. 30, 2015

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE [Abstract]

Summary of securities sold under agreements to repurchase

A summary of securities sold under agreements to repurchase as of June 30, 2015 and December 31, 2014 is as follows (in thousands):

	June 30, 2015
	Overnight and Continuous		Up to 1 Year		1 - 3 Years		3+ Years		Total
Obligations of U.S. Government and U.S. Government sponsored enterprises	$	12,420	$	-	$	15,614	$	-	$	28,034
Mortgage-backed securities, residential		8,709		-		6,607		-		15,316
Total	$	21,129	$	-	$	22,221	$	-		43,350
Excess collateral held										(11,468	)
Gross amount of recognized liabilities for repurchase agreements									$	31,882

	December 31, 2014
	Overnight and Continuous		Up to 1 Year		1 - 3 Years		3+ Years		Total
Obligations of U.S. Government and U.S. Government sponsored enterprises	$	21,056	$	-	$	6,990	$	8,595	$	36,641
Mortgage-backed securities, residential		669		-		3,507		4,174		8,350
Collateralized mortgage obligations		-		-		48		-		48
Total		21,725	$	-	$	10,545	$	12,769		45,039
Excess collateral held										(15,387	)
Gross amount of recognized liabilities for repurchase agreements									$	29,652