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

3 Months Ended

Mar. 31, 2019

RESALE AND REPURCHASE AGREEMENTS [Abstract]

Schedule of gross repurchase agreements maturities

The following table presents the gross repurchase agreements that will mature in the five years succeeding March 31, 2019 and thereafter:




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

Schedule of balance sheet offsetting for resale and repurchase agreements

The following tables present the resale and repurchase agreements included on the Consolidated Balance Sheet as of March 31, 2019 and December 31, 2018:




($ in thousands)	March 31, 2019
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
Assets	Gross Amounts of Recognized Assets		Gross Amounts Offset on the Consolidated Balance Sheet					Financial Instruments		Collateral Received				Net Amount
Resale agreements	$	1,435,000	$	(400,000	)	$	1,035,000	$	—	$	(1,030,776	)	⁽¹⁾	$	4,224

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
Liabilities	Gross Amounts of Recognized Liabilities		Gross Amounts Offset on the Consolidated Balance Sheet					Financial Instruments		Collateral Pledged				Net Amount
Repurchase agreements	$	450,000	$	(400,000	)	$	50,000	$	—	$	(50,000	)	⁽²⁾	$	—




($ 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
Assets	Gross Amounts of Recognized Assets		Gross Amounts Offset on the Consolidated Balance Sheet					Financial Instruments		Collateral Received				Net Amount
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
Liabilities	Gross Amounts of Recognized Liabilities		Gross Amounts Offset on the Consolidated Balance Sheet					Financial Instruments		Collateral Pledged				Net Amount
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 repurchase agreements, limited for table presentation purposes to the amount of the recognized liability due to each counterparty.