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Balance Sheet Offsetting
 12 Months Ended
Dec. 31, 2013
Balance Sheet Offsetting  
Balance Sheet Offsetting

Note 17. Balance Sheet Offsetting

        Assets and liabilities relating to certain financial instruments, including derivatives, securities purchased under resale agreements ("reverse repurchase agreements") and securities sold under repurchase agreements ("repurchase agreements"), may be eligible for offset in the consolidated balance sheet as permitted under accounting guidance. The Company is party to transactions involving derivative instruments that are subject to enforceable master netting arrangements or similar agreements. Under these agreements, the Company may have the right to net settle multiple contracts with the same counterparty. Certain derivative transactions may require the Company to receive or pledge marketable debt securities as collateral based on certain risk thresholds. The Company also enters into reverse repurchase agreements under which it has the right to claim securities collateral if the counterparty fails to perform. Securities that have been pledged by counterparties as collateral are not recorded in the Company's consolidated balance sheet unless the counterparty defaults. Securities that have been pledged by the Company to counterparties continue to be reported in the Company's consolidated balance sheet unless the Company defaults.

        The Company also offers various derivative products to clients and enters into derivative transactions in due course. These derivative contracts are offset by paired trades with unrelated bank counterparties. Certain derivative transactions with clients are not subject to master netting arrangements and have been excluded from the balance sheet offsetting table below.

        The following table provides information about financial instruments that are eligible for offset at December 31, 2013 and December 31, 2012:

 
    
    
    
   Gross Amounts Not
Offset in the Balance
Sheet		    
  
 
    
    
   Net Amount
Presented in
the Balance
Sheet		    
  
(in thousands)
  Gross
Amount
Recognized		   Gross
Amount
Offset		   Securities
Collateral		   Cash
Collateral		   Net
Amount		  

December 31, 2013

                                      

Financial assets:

                                      

Derivatives not designated as hedging instruments

   $ 18,749   $ (13,323 ) $ 5,426   $ —   $ —   $ 5,426  

Reverse repurchase agreements

     200,000     —     200,000     (200,000 )   —     —  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total financial assets

   $ 218,749   $ (13,323 ) $ 205,426   $ (200,000 ) $ —   $ 5,426  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

Financial liabilities:

                                      

Derivatives not designated as hedging instruments

   $ 32,193   $ (13,323 ) $ 18,870   $ (12,376 ) $ (7,761 ) $ (1,267 )
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total financial liabilities

   $ 32,193   $ (13,323 ) $ 18,870   $ (12,376 ) $ (7,761 ) $ (1,267 )
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

December 31, 2012

                                      

Financial assets:

                                      

Derivatives designated as hedging instruments

   $ 2,249   $ (83 ) $ 2,166   $ (1,034 ) $ —   $ 1,132  

Derivatives not designated as hedging instruments

     1,920     (1,454 )   466     —     —     466  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total financial assets

   $ 4,169   $ (1,537 ) $ 2,632   $ (1,034 ) $ —   $ 1,598  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
                           

Financial liabilities:

                                      

Derivatives designated as hedging instruments

   $ 83   $ (83 ) $ —   $ —   $ —   $ —  

Derivatives not designated as hedging instruments

     65,461     (1,453 )   64,008     (48,697 )   —     15,311  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

Total financial liabilities

   $ 65,544   $ (1,536 ) $ 64,008   $ (48,697 ) $ —   $ 15,311  
                           
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​