Note 8:         Repurchase Agreements

Securities sold under agreements to repurchase (“repurchase agreements”) with customers represent funds deposited by customers, generally on an overnight basis that are collateralized by investment securities owned by the Company.

The following table presents the Company’s repurchase agreements accounted for as secured borrowings:

Remaining Contractual Maturity of the Agreement

(In thousands)

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These borrowings were collateralized with state and municipal obligations with a carrying value of $53.6 million at June 30, 2026 and $51.3 million at December 31, 2025. Declines in the fair value would require the Company to pledge additional securities.