Balance Sheet Offsetting (Tables)

6 Months Ended

Jun. 30, 2019

Offsetting [Abstract]

Schedule of Repurchase Agreements - by maturity date and collateral type

The following table presents the remaining contractual maturities of the Company’s repurchase agreements as of June 30, 2019 and December 31, 2018, disaggregated by the class of collateral pledged.

	Remaining Contractual Maturity of Repurchase Agreements
(dollars in thousands)	Up to 90 days		91-365 days		1-3 Years		After 3 Years		Total
June 30, 2019
Class of Collateral Pledged:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	—	$	—	$	311,241	$	—	$	311,241
Debt Securities Issued by States and Political Subdivisions	1,100		1,690		—		—		2,790
Debt Securities Issued by Corporations	—		—		2,467		—		2,467
Mortgage-Backed Securities:
Residential - Government Agencies	—		1,509		90,105		—		91,614
Residential - U.S. Government-Sponsored Enterprises	—		—		96,187		—		96,187
Total	$	1,100	$	3,199	$	500,000	$	—	$	504,299
December 31, 2018
Class of Collateral Pledged:
Debt Securities Issued by the U.S. Treasury and Government Agencies	$	—	$	—	$	198,442	$	117,021	$	315,463
Debt Securities Issued by States and Political Subdivisions	1,906		1,590		—		—		3,496
Mortgage-Backed Securities:
Residential - Government Agencies	800		—		26,558		70,341		97,699
Residential - U.S. Government-Sponsored Enterprises	—		—		—		87,638		87,638
Total	$	2,706	$	1,590	$	225,000	$	275,000	$	504,296

Schedule of assets and liabilities subject to an enforceable master netting arrangement

The following table presents the assets and liabilities subject to an enforceable master netting arrangement, or repurchase agreements, as of June 30, 2019 and December 31, 2018. The swap agreements the Company has with our commercial banking customers are not subject to an enforceable master netting arrangement, and therefore, are excluded from this table. As previously mentioned, centrally cleared swap agreements between the Company and institutional counterparties are also excluded from this table.

	(i)		(ii)		(iii) = (i)-(ii)		(iv)				(v) = (iii)-(iv)
	Gross Amounts Recognized in the Statements  of Condition		Gross Amounts Offset in the Statements  of Condition		Net Amounts Presented in the Statements  of Condition		Gross Amounts Not Offset in the Statements of Condition
(dollars in thousands)							Netting Adjustments per Master Netting Arrangements		Fair Value of Collateral Pledged/Received 1		Net Amount
June 30, 2019
Assets:
Interest Rate Swap Agreements:
Institutional Counterparties	$	1,106	$	—	$	1,106	$	1,106	$	—	$	—
Liabilities:
Interest Rate Swap Agreements:
Institutional Counterparties	6,308		—		6,308		1,106		4,409		793
Repurchase Agreements:
Private Institutions	500,000		—		500,000		—		500,000		—
Government Entities	4,299		—		4,299		—		4,299		—
	$	504,299	$	—	$	504,299	$	—	$	504,299	$	—
December 31, 2018
Assets:
Interest Rate Swap Agreements:
Institutional Counterparties	$	7,572	$	—	$	7,572	$	1,490	$	—	$	6,082
Liabilities:
Interest Rate Swap Agreements:
Institutional Counterparties	1,490		—		1,490		1,490		—		—
Repurchase Agreements:
Private Institutions	500,000		—		500,000		—		500,000		—
Government Entities	4,296		—		4,296		—		4,296		—
	$	504,296	$	—	$	504,296	$	—	$	504,296	$	—

¹ The application of collateral cannot reduce the net amount below zero. Therefore, excess collateral is not reflected in this table. For repurchase agreements with private institutions, the fair value of investment securities pledged was $542.0 million and $526.7 million as of June 30, 2019 and December 31, 2018, respectively. For repurchase agreements with government entities, the fair value of investment securities pledged was $5.2 million and $6.8 million as of June 30, 2019 and December 31, 2018, respectively.