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Securities Sold Under Agreements to Repurchase
9 Months Ended
Sep. 30, 2023
Disclosure of Repurchase Agreements [Abstract]  
Securities Sold Under Agreements to Repurchase SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE
 
The Company utilizes securities sold under agreements to repurchase to facilitate the needs of its customers and to facilitate secured short-term funding needs. Securities sold under agreements to repurchase are stated at the amount of cash received in connection with the transaction. The Company monitors collateral levels on a continuous basis. The Company may be required to provide additional collateral based on the fair value of the underlying securities. Securities pledged as collateral under repurchase agreements are maintained with the Company’s safekeeping agents.
 
The gross amount of recognized liabilities for repurchase agreements was $74.1 million and $152.4 million at September 30, 2023 and December 31, 2022, respectively. The remaining contractual maturity of the securities sold under agreements to repurchase in the consolidated balance sheets as of September 30, 2023 and December 31, 2022 is presented in the following tables.
 
 Remaining Contractual Maturity of the Agreements
(In thousands)Overnight and
Continuous
Up to 30 Days30-90 DaysGreater than
90 Days
Total
September 30, 2023     
Repurchase agreements:
U.S. Government agencies$74,082 $— $— $— $74,082 
December 31, 2022
Repurchase agreements:
U.S. Government agencies$152,403 $— $— $— $152,403