DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 2013
DERIVATIVE FINANCIAL INSTRUMENTS  
Schedule of fair value of derivative financial instruments and classification on the consolidated statements of condition

As of December 31, 2013

 

 

 

Asset derivatives

 

Liability derivatives

 

(dollars in thousands)

 

Notional 
amount

 

Fair value (1)

 

Notional 
amount

 

Fair value (2)

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements

 

$

13,151

 

$

294

 

$

13,151

 

$

270

 

Total derivatives

 

$

13,151

 

$

294

 

$

13,151

 

$

270

 

 

(1)              Included in other assets in our Consolidated Statements of Financial Condition.

(2)              Included in other liabilities in our Consolidated Statements of Financial Condition.

 

As of December 31, 2012

 

 

 

Asset derivatives

 

Liability derivatives

 

(dollars in thousands)

 

Notional 
amount

 

Fair value (1)

 

Notional 
amount

 

Fair value (2)

 

 

 

 

 

 

 

 

 

 

 

Interest rate swap agreements

 

$

10,248

 

$

395

 

$

10,248

 

$

418

 

Total derivatives

 

$

10,248

 

$

395

 

$

10,248

 

$

418

 

 

(1)              Included in other assets in our Consolidated Statements of Financial Condition.

(2)              Included in other liabilities in our Consolidated Statements of Financial Condition.
Schedule of offsetting of derivative assets

 

Offsetting of Derivative Assets

As of December 31, 2013

 

 

 

Gross

 

Gross Amounts

 

Net Amounts of

 

Gross Amounts Not Offset in the

 

 

 

 

 

Amounts of

 

Offset in the

 

Assets presented in

 

 Statement of Financial Condition

 

 

 

 

 

Recognized 

 

Statement of

 

the Statement of

 

Financial

 

Collateral

 

 

 

 

 

 Assets *

 

Financial Condition

 

Financial Condition

 

Instruments

 

Received

 

Net Amount

 

Interest rate swaps

 

$

313

 

$

—

 

$

313

 

$

—

 

$

51

 

$

262

 

 

* - Balance includes accrued interest receivable/payable and credit valuation adjustments.

 

Offsetting of Derivative Assets

As of December 31, 2012

 

 

 

Gross

 

Gross Amounts

 

Net Amounts of

 

Gross Amounts Not Offset in the

 

 

 

 

 

Amounts of

 

Offset in the

 

Assets presented in

 

 Statement of Financial Condition

 

 

 

 

 

Recognized

 

Statement of

 

the Statement of

 

Financial

 

Collateral

 

 

 

 

 

Assets *

 

Financial Condition

 

Financial Condition

 

Instruments

 

Received

 

Net Amount

 

Interest rate swaps

 

$

409

 

$

—

 

$

409

 

$

—

 

$

—

 

$

409

 

 

* - Balance includes accrued interest receivable/payable and credit valuation adjustments.
Schedule of offsetting of derivative liabilities

Offsetting of Derivative Liabilities

As of December 31, 2013

 

 

 

Gross

 

Gross Amounts

 

Net Amounts of

 

Gross Amounts Not Offset in the

 

 

 

 

 

Amounts of

 

Offset in the

 

Liabilities presented in

 

Statement of Financial Condition

 

 

 

 

 

Recognized

 

Statement of

 

the Statement of

 

Financial

 

Collateral

 

 

 

 

 

Liabilities *

 

Financial Condition

 

Financial Condition

 

Instruments

 

Posted

 

Net Amount

 

Interest rate swaps

 

$

288

 

$

—

 

$

288

 

$

—

 

$

—

 

$

288

 

 

* - Balance includes accrued interest receivable/payable and credit valuation adjustments.

 

Offsetting of Derivative Liabilities

As of December 31, 2012

 

 

 

Gross

 

Gross Amounts

 

Net Amounts of

 

Gross Amounts Not Offset in the

 

 

 

 

 

Amounts of

 

Offset in the

 

Liabilities presented in

 

 Statement of Financial Condition

 

 

 

 

 

Recognized

 

Statement of

 

the Statement of

 

Financial

 

Collateral

 

 

 

 

 

Liabilities *

 

Financial Condition

 

Financial Condition

 

Instruments

 

Posted

 

Net Amount

 

Interest rate swaps

 

$

432

 

$

—

 

$

432

 

$

—

 

$

(503

)

$

(71

)

 

* - Balance includes accrued interest receivable/payable and credit valuation adjustments.