HERITAGE FINANCIAL CORP WA
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
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SECURITIES SOLD UNDER AGREEMENT TO REPURCHASE
(10)Securities Sold Under Agreement to Repurchase
The Company has utilized securities sold under agreement to repurchase withone day maturities as a supplement to funding sources in the past. Securities sold under agreement to repurchase were secured by pledged investment securities. Under thesecurities sold under agreement to repurchase, the Company was required to maintain an aggregate market value of securities pledged greater than the balance of thesecurities sold under agreement to repurchase. The Company was required to pledge additional securities to cover any declines below the balance of thesecurities sold under agreement to repurchase. The Company discontinued utilizing these instruments during the year ended December 31, 2023.
The following table presents the balance of the Company'ssecurities sold under agreement to repurchase obligations by class of collateral pledged at the date indicated:
| December 31, 2023 | December 31, 2022 | |
|---|---|---|
| (Dollars in thousands) | ||
| Commercial CMO and MBS | $— | $46,597 |
| Total | $— | $46,597 |
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