OFFSETTING ASSETS AND LIABILITIES

3 Months Ended

Mar. 31, 2021

Offsetting [Abstract]

Offsetting Assets And Liabilities [Text Block]

NOTE 7. 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 March 31,

2021 and December 31, 2020.

(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

March 31, 2021

Repurchase Agreements

$

73,136

$

-

$

73,136

$

(69,099)

$

(4,037)

$

-

$

73,136

$

-

$

73,136

$

(69,099)

$

(4,037)

$

-

December 31, 2020

Repurchase Agreements

$

65,071

$

-

$

65,071

$

(61,719)

$

(3,352)

$

-

$

65,071

$

-

$

65,071

$

(61,719)

$

(3,352)

$

-

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. The fair value of the actual collateral received by or posted to the

same counterparty typically exceeds the amounts presented. See Note 6 for a discussion of collateral posted for, or received against,

repurchase obligations and derivative instruments.