Offsetting Assets and Liabilities

12 Months Ended

Dec. 31, 2015

Offsetting Assets And Liabilities [Text Block]

The Company’s repurchase agreements are subject to underlying agreements with master netting or similar arrangements, which provide for the right of offset in the event of default or in the event of bankruptcy of either party to the transactions. The Company reports its assets and liabilities subject to these arrangements on a gross basis. The following table presents information regarding those assets and liabilities subject to such arrangements as if the Company had presented them on a net basis as of December 31, 2015 and December 31, 2014.

(in thousands)
Offsetting of Liabilities
					Net Amount		Gross Amount Not Offset in the
					of Liabilities		Consolidated Balance Sheet
			Gross Amount		Presented		Financial
	Gross Amount		Offset in the		in the		Instruments		Cash
	of Recognized		Consolidated		Consolidated		Posted as		Posted as		Net
	Liabilities		Balance Sheet		Balance Sheet		Collateral		Collateral		Amount
December 31, 2015
Repurchase Agreements	$	77,234	$	-	$	77,234	$	(77,234)	$	-	$	-
December 31, 2014
Repurchase Agreements	$	109,964	$	-	$	109,964	$	(109,706)	$	(258)	$	-

The amounts disclosed for collateral received by or posted to the same counterparty are limited to the amount sufficient to reduce the asset or liability presented in the consolidated balance sheet to zero in accordance with ASU No. 2011-11, as amended by ASU No. 2013-01. The fair value of the actual collateral received by or posted to the same counterparty typically exceeds the amounts presented. See Notes 6 and 7 for a discussion of collateral posted for, or received against, repurchase obligations and derivative instruments.