Note 11: Securities Sold Under Reverse Repurchase Agreements and Short-term Borrowings

9 Months Ended

Sep. 30, 2016

Notes

Note 11: Securities Sold Under Reverse Repurchase Agreements and Short-term Borrowings

NOTE 11: SECURITIES SOLD UNDER REVERSE REPURCHASE AGREEMENTS AND SHORT-TERM BORROWINGS

	September 30, 2016	December 31, 2015
	(In Thousands)
Notes payable – Community Development
Equity Funds	$           1,060	$           1,295
Overnight borrowings from the Federal Home Loan Bank	152,000	—
Securities sold under reverse repurchase agreements	139,044	116,182
	$       292,104	$       117,477

The Bank enters into sales of securities under agreements to repurchase (reverse repurchase agreements).  Reverse repurchase agreements are treated as financings, and the obligations to repurchase securities sold are reflected as a liability in the statements of financial condition.  The dollar amount of securities underlying the agreements remains in the asset accounts.  Securities underlying the agreements are being held by the Bank during the agreement period.  All agreements are written on a term of one-month or less.

The following table represents the Company’s securities sold under reverse repurchase agreements, by collateral type and remaining contractual maturity.    

	September 30, 2016	December 31, 2015
	Overnight and	Overnight and
	Continuous	Continuous
	(In Thousands)
FHLBank CD	$         27,000	$                —
Mortgage-backed securities – GNMA, FNMA, FHLMC	112,044	116,182
	$       139,044	$       116,182