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DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Interest Rate Derivatives [Table Text Block]

As of December 31, 2020 and 2019, the Company had the following outstanding interest rate derivatives that are designated as cash flow hedges of interest rate risk:

Interest Rate Derivative						Notional Amount as of December 31, 2020						Notional Amount as of December 31, 2019
						(In thousands)
Interest Rate Swap						$75,000						$75,000
Interest Rate Swap						$65,000						$65,000
Interest Rate Swap						—						$60,000
Interest Rate Swap						$40,000						$40,000
Interest Rate Swap						—						$15,000
Interest Rate Swap						$100,000						$100,000
Interest Rate Swap						$100,000						—

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the Consolidated Balance Sheets as of December 31, 2020 and 2019. See Note 18 for additional information on the fair value of the Company's interest rate swaps.

Derivatives As of December 31, 2020

Derivatives As of December 31, 2019

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

(In thousands)

Derivatives designated as cash flow hedges:

Interest rate swap assets

Other assets

$

—

Other assets

$

3,485

Interest rate swap liabilities

Other liabilities

10,752

Other liabilities

678

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

The table below presents the effect of the Company's derivative financial instruments on the Consolidated Statements of Income and Comprehensive Income for the years ended December 31, 2020, 2019 and 2018:

			Years Ended December 31,
			2020						2019						2018
			(In thousands)
DERIVATIVES IN CASH FLOW HEDGING RELATIONSHIPS
Interest Rate Swaps:
Amount of income (loss) recognized in Other comprehensive income (loss) on derivatives			$	(17,364)					(1,975)						2,757
Amount of (income) loss reclassified from Accumulated other comprehensive income (loss) into Interest expense			3,805						(1,919)						(1,404)

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

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Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

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Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments.

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