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Balance Sheet Offsetting
 9 Months Ended
Sep. 30, 2020
Text Block [Abstract]  
Balance Sheet Offsetting
10.
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 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 Company’s condensed consolidated balances.
 
                                                                                                     
    
Gross Amounts
Recognized in
the Condensed
Consolidated
Balance Sheets
   
Gross Amounts
Offset in the
Condensed
Consolidated
Balance Sheets
  
Net Amounts
Presented in the
Condensed
Consolidated
Balance Sheets
   
Gross Amounts Not Offset in the
Condensed Consolidated Balance Sheets
  
    Net Amount    
    
Financial
Instruments
   
Collateral
Pledged
    
(Dollars in thousands)
September 30, 2020
                
Financial assets:
                
Derivatives not designated as
hedging instruments
   
  $
37,255
 
   
  $
-
 
  
  $
-
 
   
  $
37,255
 
   
  $
-
 
  
  $
37,255
 
  
 
 
 
   
 
 
 
  
 
 
 
   
 
 
 
   
 
 
 
  
 
 
 
Total
   
  $
37,255
 
   
  $
-
 
  
  $
-
 
   
  $
37,255
 
   
  $
-
 
  
  $
37,255
 
  
 
 
 
   
 
 
 
  
 
 
 
   
 
 
 
   
 
 
 
  
 
 
 
               
Financial liabilities:
                
Derivatives not designated as
hedging instruments
   
  $
37,255
 
   
  $
-
 
  
  $
37,255
 
   
  $
-
 
   
  $
(66,946
) 
  
  $
(29,691
) 
Repurchase agreements
   
 
483,420
 
   
 
-
 
  
 
483,420
 
   
 
-
 
   
 
(498,535
) 
  
 
(15,115
) 
  
 
 
 
   
 
 
 
  
 
 
 
   
 
 
 
   
 
 
 
  
 
 
 
Total
   
  $
520,675
 
   
  $
-
 
  
  $
520,675
 
   
  $
-
 
   
  $
(565,481
) 
  
  $
(44,806
) 
  
 
 
 
   
 
 
 
  
 
 
 
   
 
 
 
   
 
 
 
  
 
 
 
               
December 31, 2019
                
Financial assets:
                
Derivatives not designated as
hedging instruments
   
  $
11,502
 
   
  $
-
 
  
  $
-
 
   
  $
11,502
 
   
  $
-
 
  
  $
11,502
 
  
 
 
 
   
 
 
 
  
 
 
 
   
 
 
 
   
 
 
 
  
 
 
 
Total
   
  $
11,502
 
   
  $
-
 
  
  $
-
 
   
  $
11,502
 
   
  $
-
 
  
  $
11,502
 
  
 
 
 
   
 
 
 
  
 
 
 
   
 
 
 
   
 
 
 
  
 
 
 
               
Financial liabilities:
                
Derivatives not designated as
hedging instruments
   
  $
11,619
 
   
  $
(117
) 
  
  $
11,502
 
   
  $
117
 
   
  $
(23,312
) 
  
  $
(11,693
) 
Repurchase agreements
   
 
428,659
 
   
 
-
 
  
 
428,659
 
   
 
-
 
   
 
(510,138
) 
  
 
(81,479
) 
  
 
 
 
   
 
 
 
  
 
 
 
   
 
 
 
   
 
 
 
  
 
 
 
Total
   
  $
440,278
 
   
  $
(117
) 
  
  $
440,161
 
   
  $
117
 
   
  $
(533,450
) 
  
  $
(93,172
)