OFFSETTING ASSETS AND LIABILITIES

9 Months Ended

Sep. 30, 2018

Offsetting [Abstract]

Offsetting Assets And Liabilities [Text Block]

NOTE 8. OFFSETTING ASSETS AND LIABILITIES

The Company’s derivatives and repurchase agreements are subject to underlying agreements with master netting or similar arrangements, which provide for the right of offset in the event of default or in the event of bankruptcy of either party to the transactions. The Company reports its assets and liabilities subject to these arrangements on a gross basis. The following tables present information regarding those assets and liabilities subject to such arrangements as if the Company had presented them on a net basis as of September 30, 2018 and December 31, 2017.

(in thousands)

Offsetting of Assets

Gross Amount Not Offset in the

Net Amount

Consolidated Balance Sheet

Gross Amount

of Assets

Financial

Gross Amount

Offset in the

Presented in the

Instruments

Cash

of Recognized

Consolidated

Consolidated

Received as

Received as

Net

Assets

Balance Sheet

Balance Sheet

Collateral

Collateral

Amount

September 30, 2018

TBA securities

$

242

$

-

$

242

$

-

$

(242)

$

-

(in thousands)
Offsetting of Liabilities
							Gross Amount Not Offset in the
					Net Amount		Consolidated Balance Sheet
			Gross Amount		of Liabilities		Financial
	Gross Amount		Offset in the		Presented in the		Instruments		Cash
	of Recognized		Consolidated		Consolidated		Posted as		Posted as		Net
	Liabilities		Balance Sheet		Balance Sheet		Collateral		Collateral		Amount
September 30, 2018
Repurchase Agreements	$	203,742	$	-	$	203,742	$	(200,540)	$	(3,202)	$	-
December 31, 2017
Repurchase Agreements	$	200,183	$	-	$	200,183	$	(197,975)	$	(2,208)	$	-

The amounts disclosed for collateral received by or posted to the same counterparty are limited to the amount sufficient to reduce the asset or liability presented in the consolidated balance sheet to zero in accordance with ASU No. 2011-11, as amended by ASU No. 2013-01. The fair value of the actual collateral received by or posted to the same counterparty typically exceeds the amounts presented. See Note7 for a discussion of collateral posted for, or received against, repurchase obligations and derivative instruments.