Offsetting of Financial Assets and Liabilities

(Amounts in thousands)



	Gross Amounts of Recognized Assets / Liabilities		Gross Amounts Offset⁽²⁾			Net Amount Presented on the Statement of Financial Condition		Gross Amounts Not Offset on the Statement of Financial Condition⁽³⁾					Net Amount
	Gross Amounts of Recognized Assets / Liabilities		Gross Amounts Offset⁽²⁾					Financial Instruments ⁽⁴⁾			Cash Collateral		Net Amount
As of June 30, 2015
Financial assets:
Derivatives⁽¹⁾:
Interest rate contracts	$	50,916	$	(7,847	)	$	43,069	$	—		$	—	$	43,069
Foreign exchange contracts	3,866		(2,725		)	1,141		—			—		1,141
Risk participation agreements	15		—			15		—			—		15
Mortgage banking derivatives	58		(7		)	51		—			—		51
Total derivatives subject to a master netting agreement	54,855		(10,579		)	44,276		—			—		44,276
Total derivatives not subject to a master netting agreement	3,166		—			3,166		—			—		3,166
Total derivatives	$	58,021	$	(10,579	)	$	47,442	$	—		$	—	$	47,442
Financial liabilities:
Derivatives⁽¹⁾:
Interest rate contracts	$	47,434	$	(26,424	)	$	21,010	$	(17,015	)	$	—	$	3,995
Foreign exchange contracts	4,462		(2,162		)	2,300		(1,863		)	—		437
Risk participation agreements	41		—			41		(33		)	—		8
Mortgage banking derivatives	7		(7		)	—		—			—		—
Total derivatives subject to a master netting agreement	51,944		(28,593		)	23,351		(18,911		)	—		4,440
Total derivatives not subject to a master netting agreement	1,345		—			1,345		—			—		1,345
Total derivatives	53,289		(28,593		)	24,696		(18,911		)	—		5,785
Repurchase agreements	150,801		—			150,801		(150,801		)	—		—
Total	$	204,090	$	(28,593	)	$	175,497	$	(169,712	)	$	—	$	5,785


⁽¹⁾	All derivative contracts are over-the-counter contracts.


⁽²⁾	Represents financial instrument and related cash collateral entered into with the same counterparty and subject to a master netting agreement.


⁽³⁾	Collateralization is determined at the counterparty level. If overcollateralization exists, the amount shown is limited to the fair value of the financial instrument.


⁽⁴⁾	Financial instruments are disclosed at fair value. Financial instrument collateral is allocated pro-rata amongst the derivative liabilities to which it relates.

Offsetting of Financial Assets and Liabilities (Continued) (Amounts in thousands)

	Gross Amounts of Recognized Assets / Liabilities		Gross Amounts Offset⁽²⁾			Net Amount Presented on the Statement of Financial Condition		Gross Amounts Not Offset on the Statement of Financial Condition⁽³⁾					Net Amount
	Gross Amounts of Recognized Assets / Liabilities		Gross Amounts Offset⁽²⁾					Financial Instruments ⁽⁴⁾			Cash Collateral		Net Amount
As of December 31, 2014
Financial assets:
Derivatives⁽¹⁾:
Interest rate contracts	$	47,421	$	(7,433	)	$	39,988	$	—		$	—	$	39,988
Foreign exchange contracts	3,664		(3,154		)	510		—			—		510
Risk participation agreements	19		(1		)	18		—			—		18
Total derivatives subject to a master netting agreement	51,104		(10,588		)	40,516		—			—		40,516
Total derivatives not subject to a master netting agreement	2,546		—			2,546		—			—		2,546
Total derivatives	53,650		(10,588		)	43,062		—			—		43,062
Financial liabilities:
Derivatives⁽¹⁾:
Interest rate contracts	$	46,507	$	(24,067	)	$	22,440	$	(17,755	)	$	—	$	4,685
Foreign exchange contracts	2,421		(1,202		)	1,219		(965		)	—		254
Risk participation agreements	24		—			24		(19		)	—		5
Total derivatives subject to a master netting agreement	48,952		(25,269		)	23,683		(18,739		)	—		4,944
Total derivatives not subject to a master netting agreement	3,084		—			3,084		—			—		3,084
Total derivatives	52,036		(25,269		)	26,767		(18,739		)	—		8,028


⁽¹⁾	All derivative contracts are over-the-counter contracts.


⁽²⁾	Represents financial instrument and related cash collateral entered into with the same counterparty and subject to a master netting agreement.


⁽³⁾	Collateralization is determined at the counterparty level. If overcollateralization exists, the amount shown is limited to the fair value of the financial instrument.


⁽⁴⁾	Financial instruments are disclosed at fair value. Financial instrument collateral is allocated pro-rata amongst the derivative liabilities to which it relates.