BALANCE SHEET OFFSETTING (Tables)

3 Months Ended

Mar. 31, 2020

The following table presents the Company's derivative positions and repurchase agreements, and the potential effect of netting arrangements on its financial position, as of the dates indicated:



							Gross Amount Not Offset in the Consolidated Statements of Condition
(In thousands)	Gross Amount Recognized in the Consolidated Statements of Condition		Gross Amount Offset in the Consolidated Statements of Condition		Net Amount Presented in the Consolidated Statements of Condition		Financial Instruments Pledged (Received)⁽¹⁾		Cash Collateral Pledged (Received)⁽¹⁾			Net Amount
March 31, 2020
Derivative assets:
Customer loan swaps - commercial customer⁽²⁾	$	45,220	$	—	$	45,220	$	—	$	—		$	45,220
Interest rate swap on loans⁽³⁾	5,591		—		5,591		—		(5,435		)	156
Total	$	50,811	$	—	$	50,811	$	—	$	(5,435	)	$	45,376
Derivative liabilities:
Customer loan swaps - dealer bank	$	45,220	$	—	$	45,220	$	—	$	45,220		—
Junior subordinated debt interest rate swaps	12,642		—		12,642		—		12,642			—
Interest rate swaps on borrowings⁽³⁾	1,615		—		1,615		—		1,615			—
Total	$	59,477	$	—	$	59,477	$	—	$	59,477		$	—
Customer repurchase agreements	$	265,997	$	—	$	265,997	$	265,997	$	—		$	—
December 31, 2019
Derivative assets:
Customer loan swaps - commercial customer⁽²⁾	17,756		—		17,756		—		—			17,756
Interest rate swap on loans	483		—		483		—		(483		)	—
Total	$	18,239	$	—	$	18,239	$	—	$	(483	)	$	17,756
Derivative liabilities:
Customer loan swaps - dealer bank	$	17,242	$	—	$	17,242	$	—	$	17,242		$	—
Junior subordinated debt interest rate swaps	$	8,187	$	—	$	8,187	$	—	$	8,187		$	—
Customer loan swaps - commercial customer⁽²⁾	514		—		514		—		—			514
Total	$	25,943	$	—	$	25,943	$	—	$	25,429		$	514
Customer repurchase agreements	$	237,984	$	—	$	237,984	$	237,984	$	—		$	—


(1)	The amount presented was the lesser of the amount pledged (received) or the net amount presented in the consolidated statements of condition.

(2) The Company manages its net exposure on its commercial customer loan swaps by obtaining collateral as part of the normal loan policy and underwriting practices.


(3)	Interest rate swap contracts were completed with same dealer bank. The Company maintains a master netting arrangement and settles collateral requested or pledged on a net basis for all contracts.

Offsetting Liabilities [Table Text Block]

The following table presents the Company's derivative positions and repurchase agreements, and the potential effect of netting arrangements on its financial position, as of the dates indicated:



							Gross Amount Not Offset in the Consolidated Statements of Condition
(In thousands)	Gross Amount Recognized in the Consolidated Statements of Condition		Gross Amount Offset in the Consolidated Statements of Condition		Net Amount Presented in the Consolidated Statements of Condition		Financial Instruments Pledged (Received)⁽¹⁾		Cash Collateral Pledged (Received)⁽¹⁾			Net Amount
March 31, 2020
Derivative assets:
Customer loan swaps - commercial customer⁽²⁾	$	45,220	$	—	$	45,220	$	—	$	—		$	45,220
Interest rate swap on loans⁽³⁾	5,591		—		5,591		—		(5,435		)	156
Total	$	50,811	$	—	$	50,811	$	—	$	(5,435	)	$	45,376
Derivative liabilities:
Customer loan swaps - dealer bank	$	45,220	$	—	$	45,220	$	—	$	45,220		—
Junior subordinated debt interest rate swaps	12,642		—		12,642		—		12,642			—
Interest rate swaps on borrowings⁽³⁾	1,615		—		1,615		—		1,615			—
Total	$	59,477	$	—	$	59,477	$	—	$	59,477		$	—
Customer repurchase agreements	$	265,997	$	—	$	265,997	$	265,997	$	—		$	—
December 31, 2019
Derivative assets:
Customer loan swaps - commercial customer⁽²⁾	17,756		—		17,756		—		—			17,756
Interest rate swap on loans	483		—		483		—		(483		)	—
Total	$	18,239	$	—	$	18,239	$	—	$	(483	)	$	17,756
Derivative liabilities:
Customer loan swaps - dealer bank	$	17,242	$	—	$	17,242	$	—	$	17,242		$	—
Junior subordinated debt interest rate swaps	$	8,187	$	—	$	8,187	$	—	$	8,187		$	—
Customer loan swaps - commercial customer⁽²⁾	514		—		514		—		—			514
Total	$	25,943	$	—	$	25,943	$	—	$	25,429		$	514
Customer repurchase agreements	$	237,984	$	—	$	237,984	$	237,984	$	—		$	—


(1)	The amount presented was the lesser of the amount pledged (received) or the net amount presented in the consolidated statements of condition.

(2) The Company manages its net exposure on its commercial customer loan swaps by obtaining collateral as part of the normal loan policy and underwriting practices.


(3)	Interest rate swap contracts were completed with same dealer bank. The Company maintains a master netting arrangement and settles collateral requested or pledged on a net basis for all contracts.