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Securities Purchased under Resale Agreements and Sold under Repurchase Agreements (Tables)
 6 Months Ended
Jun. 30, 2019
RESALE AND REPURCHASE AGREEMENTS [Abstract]  
Schedule of gross repurchase agreements maturities
The following table presents the gross repurchase agreements as of June 30, 2019 that will mature in the next five years and thereafter:
 
 
 
($ in thousands)
 
Repurchase
Agreements
Remainder of 2019
 
$
—

2020
 
—

2021
 
—

2022
 
150,000

2023
 
300,000

Thereafter
 
—

Total
 
$
450,000

 
 
 
Schedule of balance sheet offsetting for resale and repurchase agreements
The following tables present the resale and repurchase agreements included on the Consolidated Balance Sheet as of June 30, 2019 and December 31, 2018:
 
($ in thousands)
 
June 30, 2019
Assets
 
Gross
Amounts
of Recognized
Assets
 
Gross Amounts
Offset on the
Consolidated
Balance Sheet
 
Net Amounts of
Assets Presented
on the Consolidated
Balance Sheet
 
Gross Amounts Not Offset on the
Consolidated Balance Sheet
 
Net
Amount
 
 
 
 
Collateral Received
 
Resale agreements
 
$
1,410,000

 
$
(400,000
)
 
$
1,010,000

 
$
(1,010,000
)
(1) 
$
—

 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
Gross
Amounts
of Recognized
Liabilities
 
Gross Amounts
Offset on the
Consolidated
Balance Sheet
 
Net Amounts of
Liabilities
Presented on the Consolidated
Balance Sheet
 
Gross Amounts Not Offset on the
Consolidated Balance Sheet
 
Net
Amount
 
 
 
 
Collateral Pledged
 
Repurchase agreements
 
$
450,000

 
$
(400,000
)
 
$
50,000

 
$
(50,000
)
(2) 
$
—

 
 
($ in thousands)
 
December 31, 2018
Assets
 
Gross
Amounts
of Recognized
Assets
 
Gross Amounts
Offset on the
Consolidated
Balance Sheet
 
Net Amounts of
Assets Presented
on the Consolidated
Balance Sheet
 
Gross Amounts Not Offset on the
Consolidated Balance Sheet
 
Net
Amount
 
 
 
 
Collateral Received
 
Resale agreements
 
$
1,435,000

 
$
(400,000
)
 
$
1,035,000

 
$
(1,025,066
)
(1) 
$
9,934

 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
Gross
Amounts
of Recognized
Liabilities
 
Gross Amounts
Offset on the
Consolidated
Balance Sheet
 
Net Amounts of
Liabilities
Presented
on the Consolidated
Balance Sheet
 
Gross Amounts Not Offset on the
Consolidated Balance Sheet
 
Net
Amount
 
 
 
 
Collateral Pledged
 
Repurchase agreements
 
$
450,000

 
$
(400,000
)
 
$
50,000

 
$
(50,000
)
(2) 
$
—

 
(1)
Represents the fair value of securities the Company has received under resale agreements, limited for table presentation purposes to the amount of the recognized asset due from each counterparty. The application of collateral cannot reduce the net position below zero. Therefore, excess collateral, if any, is not reflected above.
(2)
Represents the fair value of securities the Company has pledged under repurchase agreements, limited for table presentation purposes to the amount of the recognized liability due to each counterparty. The application of collateral cannot reduce the net position below zero. Therefore, excess collateral, if any, is not reflected above.