| Schedule of securities sold under agreements to repurchase |
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December 31, (dollars in thousands)
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2016
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2015
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Outstanding balance at end of period
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$
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173,473
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$
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395,433
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Weighted average interest rate at end of period
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0.05
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%
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0.02
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%
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Fair value of securities pledged:
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U.S. Treasury securities and U.S. Government agencies
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$
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116,025
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$
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244,707
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Mortgage backed securities - residential
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45,894
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82,666
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Collateralized mortgage obligations
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41,155
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130,821
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Total securities pledged
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$
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203,074
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$
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458,194
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Additional information regarding securities sold under agreements to repurchase for the years ended December 31, 2016, 2015 and 2014 follows:
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Years Ended December 31, (dollars in thousands)
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2016
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2015
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2014
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Average outstanding balance during the period
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$
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280,296
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$
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379,477
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$
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296,196
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Average interest rate during the period
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0.02
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%
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0.02
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%
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0.04
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Maximum outstanding at any month end during the period
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$
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367,373
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$
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442,981
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$
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408,891
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