REPURCHASE AGREEMENTS AND OTHER BORROWINGS (Tables)

9 Months Ended

Sep. 30, 2020

Disclosure of Repurchase Agreements [Abstract]

Schedule of repurchase agreements and remaining maturities

As of September 30, 2020 and December 31, 2019, 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

September 30, 2020

Fair market value of securities pledged, including

accrued interest receivable

$

4,956

$

1,700,941

$

675,475

$

1,044,903

$

3,426,275

Repurchase agreement liabilities associated with

these securities

$

3,709

$

1,627,083

$

648,133

$

1,002,378

$

3,281,303

Net weighted average borrowing rate

1.30%

0.24%

0.24%

0.24%

0.24%

December 31, 2019

Fair market value of securities pledged, including

accrued interest receivable

$

-

$

2,470,263

$

1,005,517

$

120,941

$

3,596,721

Repurchase agreement liabilities associated with

these securities

$

-

$

2,361,378

$

964,368

$

122,360

$

3,448,106

Net weighted average borrowing rate

-

2.04%

1.94%

2.60%

2.03%