Assets and liabilities relating to certain financial instruments, including derivative instruments and securities sold under 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. The Company offers 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, involves the sale of certain securities overnight to customers under agreements to repurchase the securities the next business day. The repurchase agreements are not offset in the Company’s condensed consolidated balances.

The following tables summarize gross and net information about financial instruments and derivative instruments that are eligible for offset in the consolidated balance sheets at September 30, 2026 and December 31, 2025.


	Gross Amounts Recognized in the Condensed		Gross Amounts Offset in the Condensed			Net Amounts Presented in the Condensed		Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
(Dollars in thousands)	Consolidated Balance Sheets		Consolidated Balance Sheets			Consolidated Balance Sheets		Financial Instruments				Collateral Pledged				Net Amount
September 30, 2026
Financial assets:
Derivatives assets	$	55,536	$	—		$	55,536	$	—			$	(31,462	)		$	24,074
Total	$	55,536	$	—		$	55,536	$	—			$	(31,462	)	(2)	$	24,074

Financial liabilities:
Derivatives liabilities	$	31,730	$	—		$	31,730	$	(31,730	)		$	—			$	—
Repurchase agreements		571,884		—			571,884		(571,884	)			—				—
Total	$	603,614	$	—		$	603,614	$	(603,614	)	(1)	$	—			$	—

December 31, 2025
Financial assets:
Derivatives assets	$	161	$	—		$	161	$	—			$	—			$	161
Total	$	161	$	—		$	161	$	—			$	—			$	161

Financial liabilities:
Derivatives liabilities	$	38,549	$	(27,119	)	$	11,430	$	27,119			$	14,376			$	52,925
Repurchase agreements		490,601		—			490,601		—				(521,878	)			(31,277	)
Total	$	529,150	$	(27,119	)	$	502,031	$	27,119			$	(507,502	)		$	21,648

(1)

Represents the fair value of securities pledged with counterparty bank. Amounts are limited to the derivative asset or liability balance and, accordingly, do not include excess collateral, if any, received or pledged.

(2)

Represents cash collateral received from or pledged with counterparty bank.