Repurchase Agreements (REPOs)

Repurchase Agreements are collateralized by treasury notes and debt securities issued by the U.S. Treasury and federally guaranteed or sponsored by agencies such as FHLB, FNMA, FFCB, FHLMC and SLMA, and by single and/or multi-family mortgages securitized by FNMA, FHLMC or GNMA, which guarantee the timely payment of principal and interest.

Public funds are collateralized 102% and the public fund collateral pool consists solely of treasury notes and debt securities issued by the U.S. Treasury, and federally guaranteed or sponsored by agencies.

Interest is calculated and paid daily.

Our daily report details account activity, the amount of each day’s investment, investment income, account balances and pledged collateral. This report provides an immediate audit trail and is available every morning either online through Business Online or our automated daily fax service.

NOT FDIC INSURED. RATES SUBJECT TO CHANGE DAILY.