Repurchase Agreements (Tables)

3 Months Ended

Mar. 31, 2013

Disclosure of Repurchase Agreements [Abstract]

As of March 31, 2013 and December 31, 2012, the Company's repurchase agreements had remaining maturities as summarized below:

(in thousands)
		OVERNIGHT		BETWEEN 2		BETWEEN 31			GREATER
		(1 DAY OR		AND		AND			THAN
		LESS)		30 DAYS		90 DAYS			90 DAYS		TOTAL
March 31, 2013
Fair market value of securities pledged, including
	accrued interest receivable	$	66,571	$	250,670	$	16,975	$	-	$	334,216
Repurchase agreement liabilities associated with
	these securities	$	63,381	$	236,743	$	16,322	$	-	$	316,446
Net weighted average borrowing rate			0.40%		0.42%		0.42%		-		0.42%
December 31, 2012
Fair market value of securities pledged, including
	accrued interest receivable	$	-	$	109,863	$	-	$	-	$	109,863
Repurchase agreement liabilities associated with
	these securities	$	-	$	103,941	$	-	$	-	$	103,941
Net weighted average borrowing rate			-		0.49%		-		-		0.49%

Schedule of Underlying Assets of Repurchase Agreements when Amount of Repurchase Agreements Exceeds 10 Percent of Assets

Summary information regarding the Company's amounts at risk with individual counterparties greater than 10% of the Company's equity at March 31, 2013 and December 31, 2012 is as follows:

(in thousands)
			Weighted
			Average
		Amount	Maturity
Counterparties		at Risk⁽¹⁾	(in Days)
March 31, 2013
Citigroup Global Markets, Inc.	$	6,075	18
December 31, 2012
Citigroup Global Markets, Inc.	$	3,714	18
South Street Securities, LLC		1,802	7

(1) Equal to the fair value of securities sold, cash posted as collateral, plus accrued interest receivable, minus the sum of repurchase agreement liabilities and accrued interest payable.