Offsetting Assets and Liabilities Offsetting Assets and Liabilities

3 Months Ended

Mar. 31, 2013

Offsetting Assets and Liabilities [Abstract]

Offsetting Assets and Liabilities [Text Block]

Offsetting Assets and Liabilities:

Certain derivatives and repurchase agreements are subject to net settlement. Depending on the governing disclosure rules or elections made by management, amounts are presented gross or net on a balance sheet. The following summarizes the presentation of Sterling's interest rate swaps and securities sold under repurchase agreements, all of which are presented gross on Sterling's balance sheet:

							Pledged Collateral on Balance Sheet
March 31, 2013	Amount Recognized		Amount Offset on Balance Sheet		Amount Presented on Balance Sheet		Securities		Cash		Net Position
	(in thousands)
Assets
Interest rate swaps	$	1,790	$	0	$	1,790	$	0	$	0	$	1,790
Total	$	1,790	$	0	$	1,790	$	0	$	0	$	1,790
Liabilities
Securities sold under repurchase agreements	$	531,066	$	0	$	531,066	$	531,066	$	0	$	0
Interest rate swaps	1,827		0		1,827		0		1,827		0
Total	$	532,893	$	0	$	532,893	$	531,066	$	1,827	$	0
December 31, 2012
Assets
Interest rate swaps	$	2,148	$	0	$	2,148	$	0	$	0	$	2,148
Total	$	2,148	$	0	$	2,148	$	0	$	0	$	2,148
Liabilities
Securities sold under repurchase agreements	$	586,867	$	0	$	586,867	$	586,867	$	0	$	0
Interest rate swaps	2,144		0		2,144		0		2,144		0
Total	$	589,011	$	0	$	589,011	$	586,867	$	2,144	$	0

Sterling's cash, and investments and MBS included cash and securities pledged against its interest rate swap and securities sold under repurchase agreements liabilities.