SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (Tables)

12 Months Ended

Dec. 31, 2015

Disclosure of Repurchase Agreements [Abstract]

Summary of Securities Sold under Agreements to Repurchase

of securities sold under agreements to repurchase by collateral pledged as of December 31, 2015 and 2014 is as follows (in thousands):

	December 31, 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	$	12,163	$	1,781	$	9,323	$	—	$	23,267
Mortgage-backed securities, residential	8,280		9,174		3,135		—		20,589
Total	$	20,443	$	10,955	$	12,458	$	—	43,856
Excess collateral held									(15,403		)
Gross amount of recognized liabilities for repurchase agreements									$	28,453

	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

A summary of securities sold under agreements to repurchase as of and for the years ended December 31, 2015, 2014 and 2013 is as follows (in thousands):

	2015			2014			2013
Balance at December 31	$	28,453		$	29,652		$	32,701
Maximum month-end balance	$	32,145		$	31,914		$	32,701
Average balance during year	$	30,236		$	30,667		$	31,102
Weighted-average interest rate at December 31	2.93		%	2.82		%	2.93		%
Average interest rate paid during year	2.80		%	2.77		%	2.76		%