Securities Purchased under Resale Agreements and Sold under Repurchase Agreements (Tables)

12 Months Ended

Dec. 31, 2018

RESALE AND REPURCHASE AGREEMENTS

Schedule of repurchase agreements maturities

The following table presents the repurchase agreements that will mature in the five years succeeding December 31, 2018 and thereafter:

($ in thousands)	Repurchase Agreements
2019	$	—
2020	—
2021	—
2022	150,000
2023	300,000
Thereafter	—
Total	$	450,000

Schedule of balance sheet offsetting for resale agreements and repurchase agreements

The following tables present the resale and repurchase agreements included on the Consolidated Balance Sheet as of December 31, 2018 and 2017:

($ in thousands)	December 31, 2018
Assets	Gross Amounts of Recognized Assets		Gross Amounts Offset on the Consolidated Balance Sheet			Net Amounts of Assets Presented on the Consolidated Balance Sheet		Gross Amounts Not Offset on the Consolidated Balance Sheet						Net Amount
								Financial Instruments		Collateral Received
Resale agreements	$	1,435,000	$	(400,000	)	$	1,035,000	$	—	$	(1,025,066	)	(1)	$	9,934
Liabilities	Gross Amounts of Recognized Liabilities		Gross Amounts Offset on the Consolidated Balance Sheet			Net Amounts of Liabilities Presented on the Consolidated Balance Sheet		Gross Amounts Not Offset on the Consolidated Balance Sheet						Net Amount
								Financial Instruments		Collateral  Pledged
Repurchase agreements	$	450,000	$	(400,000	)	$	50,000	$	—	$	(50,000	)	(2)	$	—

($ in thousands)	December 31, 2017
Assets	Gross Amounts of Recognized Assets		Gross Amounts Offset on the Consolidated Balance Sheet			Net Amounts of Assets Presented on the Consolidated Balance Sheet		Gross Amounts Not Offset on the Consolidated Balance Sheet						Net Amount
								Financial Instruments		Collateral Received
Resale agreements	$	1,450,000	$	(400,000	)	$	1,050,000	$	—	$	(1,045,696	)	(1)	$	4,304
Liabilities	Gross Amounts of Recognized Liabilities		Gross Amounts Offset on the Consolidated Balance Sheet			Net Amounts of Liabilities Presented on the Consolidated Balance Sheet		Gross Amounts Not Offset on the Consolidated Balance Sheet						Net Amount
								Financial Instruments		Collateral  Pledged
Repurchase agreements	$	450,000	$	(400,000	)	$	50,000	$	—	$	(50,000	)	(2)	$	—

(1) Represents the fair value of securities the Company has received under resale agreements, limited for table presentation purposes to the amount of the recognized asset due from each counterparty.

(2) Represents the fair value of securities the Company has pledged under resale agreements, limited for table presentation purposes to the amount of the recognized asset due from each counterparty.