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OFFSETTING ASSETS AND LIABILITIES
 6 Months Ended
Jun. 30, 2016
Offsetting Assets And Liabilities [Abstract]  
OFFSETTING ASSETS AND LIABILITIES
NOTE 8. OFFSETTING ASSETS AND LIABILITIES
 
The following tables summarize gross and net information about financial instruments and derivative instruments that are offset in the statement of financial position or that are subject to an enforceable master netting arrangement at June 30, 2016 and December 31, 2015.
 
 
 
June 30, 2016
 
 
 
 
 
Gross
 
Net Amounts
 
 
 
 
 
 
 
 
 
 
 
 
Gross
 
Amounts
 
of Assets
 
Gross Amounts Not
 
 
 
 
 
 
Amounts of
 
Offset in the
 
presented in
 
Offset in the Statement
 
 
 
 
 
 
Recognized
 
Statement of
 
the Statement
 
of Financial Position
 
 
 
 
 
 
Assets/
 
Financial
 
of Financial
 
Financial
 
Cash Collateral
 
 
 
 
(dollars in thousands)
 
Liabilities
 
Position
 
Position
 
Instruments
 
Received
 
Net Amount
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest Rate Swap Derivatives
 
$
6,646
 
$
0
 
$
6,646
 
$
0
 
$
0
 
$
6,646
 
Total Assets
 
$
6,646
 
$
0
 
$
6,646
 
$
0
 
$
0
 
$
6,646
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest Rate Swap Derivatives
 
$
7,129
 
$
0
 
$
7,129
 
$
0
 
$
(7,129)
 
$
0
 
Repurchase Agreements
 
 
56,368
 
 
0
 
 
56,368
 
 
(56,368)
 
 
0
 
 
0
 
Total Liabilities
 
$
63,497
 
$
0
 
$
63,497
 
$
(56,368)
 
$
(7,129)
 
$
0
 
 
 
 
December 31, 2015
 
 
 
 
 
Gross
 
Net Amounts
 
 
 
 
 
 
 
 
 
 
 
 
Gross
 
Amounts
 
of Assets
 
Gross Amounts Not
 
 
 
 
 
 
Amounts of
 
Offset in the
 
presented in
 
Offset in the Statement
 
 
 
 
 
 
Recognized
 
Statement of
 
the Statement
 
of Financial Position
 
 
 
 
 
 
Assets/
 
Financial
 
of Financial
 
Financial
 
Cash Collateral
 
 
 
 
(dollars in thousands)
 
Liabilities
 
Position
 
Position
 
Instruments
 
Received
 
Net Amount
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest Rate Swap Derivatives
 
$
1,732
 
$
0
 
$
1,732
 
$
0
 
$
0
 
$
1,732
 
Total Assets
 
$
1,732
 
$
0
 
$
1,732
 
$
0
 
$
0
 
$
1,732
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Interest Rate Swap Derivatives
 
$
1,748
 
$
0
 
$
1,748
 
$
0
 
$
(1,660)
 
$
88
 
Repurchase Agreements
 
 
69,622
 
 
0
 
 
69,622
 
 
(69,622)
 
 
0
 
 
0
 
Total Liabilities
 
$
71,370
 
$
0
 
$
71,370
 
$
(69,622)
 
$
(1,660)
 
$
88
 
 
If an event of default occurs causing an early termination of an interest rate swap derivative, any early termination amount payable to one party by the other party may be reduced by set-off against any other amount payable by the one party to the other party.  If a default in performance of any obligation of a repurchase agreement occurs, each party will set-off property held in respect of transactions against obligations owing in respect of any other transactions.