v3.25.4
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE
12 Months Ended
Dec. 31, 2025
Broker-Dealer [Abstract]  
SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE
Information pertaining to securities sold under agreements to repurchase is as follows:
(dollars in thousands)December 31, 2025December 31, 2024
Balance at end of year$— $28,969 
Weighted average rate as of end of year%2.58%
Fair value of securities underlying the agreements$— $34,335 
Carrying value of securities underlying the agreements$— $37,628 
During the first half of 2025, the Company transitioned the vast majority of repurchase agreement account balances to reciprocal interest-bearing demand deposit accounts. As a result, there were no securities sold under agreements to repurchase as of December 31, 2025.
As of December 31, 2024, all repurchase agreements were sweep instruments. The securities underlying the agreements were under the Company’s control in safekeeping at third-party financial institutions, and included debt securities.