SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (Tables)

3 Months Ended

Mar. 31, 2017

Disclosure of Repurchase Agreements [Abstract]

Summary of securities sold under agreements to repurchase

A summary of securities sold under agreements to repurchase as of March 31, 2017 and December 31, 2016 is as follows (in thousands):

	March 31, 2017
	Overnight and Continuous			Up to 1 Year		1 - 3 Years			3+ Years		Total
Mortgage-backed securities, residential	$	8,097		$	—	$	13,690		$	—	$	21,787
Excess collateral held	(2,882		)	—		(3,690		)	—		(6,572		)
Gross amount of recognized liabilities for repurchase agreements	$	5,215		$	—	$	10,000		$	—	$	15,215

	December 31, 2016
	Overnight and Continuous			Up to 1 Year			1 - 3 Years			3+ Years		Total
Obligations of U.S. Government and U.S. Government sponsored enterprises	$	—		$	1,276		$	—		$	—	$	1,276
Mortgage-backed securities, residential	13,092			9,664			14,244			—		37,000
Total	13,092			10,940			14,244			—		38,276
Excess collateral held	(5,486		)	(940		)	(4,244		)	—		(10,670		)
Gross amount of recognized liabilities for repurchase agreements	$	7,606		$	10,000		$	10,000		$	—	$	27,606