SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (Tables)

12 Months Ended

Dec. 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 and for the years ended December 31, 2017, 2016 and 2015 is as follows (in thousands):

	2017			2016			2015
Balance at December 31	$	10,000		$	27,606		$	28,453
Maximum month-end balance	$	25,718		$	30,497		$	32,145
Average balance during year	$	14,207		$	29,120		$	30,236
Weighted-average interest rate at December 31	3.72		%	3.02		%	2.93		%
Average interest rate paid during year	3.37		%	2.92		%	2.80		%

The contractual maturity of securities sold under agreements to repurchase by collateral pledged as of December 31, 2017 and 2016 is as follows (in thousands):

	December 31, 2017
	Overnight and Continuous		Up to 1 Year			1 - 3 Years		3+ Years		Total
Obligations of U.S. Government and U.S. Government sponsored enterprises	$	—	$	—		$	—	$	—	$	—
Mortgage-backed securities, residential	—		11,798			—		—		11,798
Total	—		11,798			—		—		11,798
Excess collateral held	—		(1,798		)	—		—		(1,798		)
Gross amount of recognized liabilities for repurchase agreements	$	—	$	10,000		$	—	$	—	$	10,000

	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