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Balance Sheet Offsetting
 12 Months Ended
Dec. 31, 2017
Text Block [Abstract]  
Balance Sheet Offsetting
24. BALANCE SHEET OFFSETTING

Assets and liabilities relating to certain financial instruments, including, derivatives and securities sold under repurchase agreements (“repurchase agreements”), may be eligible for offset in the consolidated balance sheets as permitted under accounting guidance. As noted above, our interest rate swap derivatives are subject to a master netting arrangement with one counterparty bank. Our interest rate swap derivatives require the Company to pledge investment securities as collateral based on certain risk thresholds. Investment securities that have been pledged by the Company to the counterparty bank continue to be reported in the Company’s consolidated balance sheets unless the Company defaults. We offer a repurchase agreement product to our customers, which include master netting agreements that allow for the netting of collateral positions. This product, known as Citizens Sweep Manager, sells certain of our securities overnight to our customers under an agreement to repurchase them the next day. The repurchase agreements are not offset in the consolidated balances.

 

    Gross Amounts
Recognized in
the Consolidated
Balance Sheets		     Gross Amounts
Offset in the
Consolidated
Balance Sheets		     Net Amounts of
Assets Presented
in the
Consolidated
Balance Sheets		     Gross Amounts Not Offset
in the Consolidated
Balance Sheets		     Net Amount  
          Financial
Instruments		     Collateral
Pledged		    
    (Dollars in thousands)  

December 31, 2017

            

Financial assets:

            

Derivatives not designated as hedging instruments

     $ 3,211          $ -          $ -          $     3,211          $ -        $ 3,211     
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total

     $ 3,211          $ -          $ -          $ 3,211          $ -        $ 3,211     
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Financial liabilities:

            

Derivatives not designated as hedging instruments

     $ 4,495          $ (1,284)         $ 3,211          $ 1,284          $ (12,760)         $ (8,265)    

Repurchase agreements

     553,773          -          553,773          -          (573,759)         (19,986)    
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total

     $     558,268          $ (1,284)         $ 556,984          $ 1,284          $ (586,519)         $ (28,251)    
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

December 31, 2016

            

Financial assets:

            

Derivatives not designated as hedging instruments

     $ 5,783          $ -          $ -          $ 5,783          $ -          $ 5,783     
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total

     $ 5,783          $ -          $ -          $ 5,783          $ -          $ 5,783     
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Financial liabilities:

            

Derivatives not designated as hedging instruments

     $ 6,855          $ (1,072)         $ 5,783          $ 1,072          $ (12,800)         $ (5,945)    

Repurchase agreements

     603,028          -          603,028          -          (683,413)         (80,385)    
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total

     $ 609,883          $     (1,072)         $     608,811          $ 1,072          $     (696,213)         $     (86,330)