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 condensed consolidated balance sheets as permitted under accounting guidance. As noted above, our interest rate swap derivatives are subject to master netting arrangements. 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 counterparties continue to be reported in the Company’s condensed 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 condensed consolidated balances.


	Gross Amounts Recognized in		Gross Amounts Offset in the			Net Amounts Presented in the		Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
	the Condensed Consolidated Balance Sheets		Condensed Consolidated Balance Sheets			Condensed Consolidated Balance Sheets		Financial Instruments		Collateral Pledged			Net Amount
	(Dollars in thousands)
June 30, 2019
Financial assets:
Derivatives not designated as hedging instruments	$	10,744	$	-		$	-	$	10,744	$	-		$	10,744
Total	$	10,744	$	-		$	-	$	10,744	$	-		$	10,744

Financial liabilities:
Derivatives not designated as hedging instruments	$	10,851	$	(107	)	$	10,744	$	107	$	(14,962	)	$	(4,111	)
Repurchase agreements		421,271		-			421,271		-		(424,648	)		(3,377	)
Total	$	432,122	$	(107	)	$	432,015	$	107	$	(439,610	)	$	(7,488	)

December 31, 2018
Financial assets:
Derivatives not designated as hedging instruments	$	1,938	$	-		$	-	$	1,938	$	-		$	1,938
Total	$	1,938	$	-		$	-	$	1,938	$	-		$	1,938

Financial liabilities:
Derivatives not designated as hedging instruments	$	4,203	$	(2,265	)	$	1,938	$	2,265	$	-		$	4,203
Repurchase agreements		442,255		-			442,255		-		(487,607	)		(45,352	)
Total	$	446,458	$	(2,265	)	$	444,193	$	2,265	$	(487,607	)	$	(41,149	)