Note 15. Offsetting Assets and Liabilities

Certain financial instrument-related assets and liabilities may be eligible for offset on the consolidated statements of condition because they are subject to master netting agreements or similar agreements. However, the Company does not elect to offset such arrangements on the consolidated financial statements. The Company enters into interest rate swap agreements with financial institution counterparties. For additional detail regarding interest rate swap agreements refer to Note 5 within this section. In the event of default on, or termination of, any one contract, both parties have the right to net settle multiple contracts. Also, certain interest rate swap agreements may require the Company to receive or pledge cash or financial instrument collateral based on the contract provisions. The following table presents information about financial instruments that are eligible for offset as of March 31, 2019 and December 31, 2018:

							Gross Amounts Not Offset
					Net Amounts
			Gross Amounts		of Assets
			Offset in the		Presented in the				Cash or
			Statement of		Statement of		Financial		Financial
	Gross Amounts		Financial		Financial		Instruments		Instrument		Net
	Recognized		Condition		Condition		Recognized		Collateral		Amount
	(dollars in thousands)
March 31, 2019
Assets:
Interest rate swaps	$	768	$	-	$	768	$	-	$	-	$	768

December 31, 2018
Assets:
Interest rate swaps	$	1,159	$	-	$	1,159	$	-	$	-	$	1,159

As of March 31, 2019 and December 31, 2018, there was no financial collateral pledged to our interest rate swaps. As these swap positions were not within the contractually agreed upon collateral requirement there was no collateral pledged to, or from, the respective counterparties.