v3.8.0.1

Interest Rate Swaps (Tables) | 12 Months Ended
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Dec. 31, 2017
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
Summary of Company's Outstanding Interest-rate Swap Agreement | The following is a summary of the Company’s outstanding interest rate swap agreements:
|  |  |  |  |  |  |  |  |  |  |  |  |  | Fair Value |  |
(in thousands, except interest rates) |  |  |  |  |  |  |  |  |  |  |  | December 31, |  |
Counterparty |  | Maturity Date |  | Fixed Rate |  |  | Variable Rate Index |  | Notional Amount |  |  | 2017 |  |  | 2016 |  |
Bank of America, N.A. |  | November 2023 |  |  | 2.80 | % |  | LIBOR 1 month |  | $ | 25,000 |  |  | $ | (863 | ) |  | $ | (1,338 | ) |
Bank of Montreal |  | July 2024 |  |  | 1.16 | % |  | LIBOR 1 month |  |  | 40,000 |  |  |  | 2,503 |  |  |  | 2,485 |  |
Bank of Montreal |  | January 2025 |  |  | 1.91 | % |  | LIBOR 1 month |  |  | 25,000 |  |  |  | 464 |  |  |  | 299 |  |
Bank of Montreal |  | July 2025 |  |  | 2.32 | % |  | LIBOR 1 month |  |  | 25,000 |  |  |  | (194 | ) |  |  | (433 | ) |
Bank of Montreal |  | January 2026 |  |  | 1.92 | % |  | LIBOR 1 month |  |  | 25,000 |  |  |  | 561 |  |  |  | 437 |  |
Bank of Montreal |  | January 2026 |  |  | 2.05 | % |  | LIBOR 1 month |  |  | 40,000 |  |  |  | 520 |  |  |  | 275 |  |
Bank of Montreal |  | December 2026 |  |  | 2.33 | % |  | LIBOR 1 month |  |  | 10,000 |  |  |  | (63 | ) |  |  | (132 | ) |
Bank of Montreal |  | December 2027 |  |  | 2.37 | % |  | LIBOR 1 month |  |  | 25,000 |  |  |  | (192 | ) |  |  | — |  |
Capital One, N.A. |  | December 2021 |  |  | 1.05 | % |  | LIBOR 1 month |  |  | 15,000 |  |  |  | 607 |  |  |  | 552 |  |
Capital One, N.A. |  | December 2024 |  |  | 1.58 | % |  | LIBOR 1 month |  |  | 15,000 |  |  |  | 603 |  |  |  | 565 |  |
Capital One, N.A. |  | January 2026 |  |  | 2.08 | % |  | LIBOR 1 month |  |  | 35,000 |  |  |  | 399 |  |  |  | 216 |  |
Capital One, N.A. |  | July 2026 |  |  | 1.32 | % |  | LIBOR 1 month |  |  | 35,000 |  |  |  | 2,565 |  |  |  | 2,667 |  |
Capital One, N.A. |  | December 2027 |  |  | 2.37 | % |  | LIBOR 1 month |  |  | 25,000 |  |  |  | (189 | ) |  |  | — |  |
M&T Bank |  | September 2017 |  |  | 1.09 | % |  | LIBOR 1 month |  |  | 25,000 |  |  |  | — |  |  |  | (37 | ) |
M&T Bank |  | April 2020 |  |  | 4.91 | % |  | LIBOR 1 month |  |  | 21,335 |  |  |  | — |  |  |  | (2,266 | ) |
M&T Bank |  | August 2021 |  |  | 1.02 | % |  | LIBOR 1 month |  |  | 5,183 |  |  |  | 182 |  |  |  | — |  | (a)
M&T Bank |  | September 2022 |  |  | 2.83 | % |  | LIBOR 1 month |  |  | 25,000 |  |  |  | (810 | ) |  |  | (993 | ) |
M&T Bank |  | November 2023 |  |  | 2.65 | % |  | LIBOR 1 month |  |  | 25,000 |  |  |  | (686 | ) |  |  | (1,102 | ) |
Regions Bank |  | March 2017 |  |  | 0.70 | % |  | LIBOR 1 month |  |  | 50,000 |  |  |  | — |  |  |  | 6 |  |
Regions Bank |  | March 2018 |  |  | 1.77 | % |  | LIBOR 1 month |  |  | 25,000 |  |  |  | (9 | ) |  |  | (179 | ) |
Regions Bank |  | March 2019 |  |  | 1.91 | % |  | LIBOR 3 month |  |  | 25,000 |  |  |  | 2 |  |  |  | (239 | ) |
Regions Bank |  | May 2020 |  |  | 2.12 | % |  | LIBOR 1 month |  |  | 50,000 |  |  |  | (153 | ) |  |  | (940 | ) |
Regions Bank |  | March 2022 |  |  | 2.43 | % |  | LIBOR 3 month |  |  | 25,000 |  |  |  | (254 | ) |  |  | (594 | ) |
Regions Bank |  | December 2023 |  |  | 1.18 | % |  | LIBOR 1 month |  |  | 25,000 |  |  |  | 1,402 |  |  |  | 1,392 |  |
SunTrust Bank |  | April 2024 |  |  | 1.99 | % |  | LIBOR 1 month |  |  | 25,000 |  |  |  | 261 |  |  |  | 47 |  |
SunTrust Bank |  | April 2025 |  |  | 2.20 | % |  | LIBOR 1 month |  |  | 25,000 |  |  |  | — |  |  |  | (219 | ) |
SunTrust Bank |  | July 2025 |  |  | 1.99 | % |  | LIBOR 1 month |  |  | 25,000 |  |  |  | 386 |  |  |  | 228 |  |
SunTrust Bank |  | December 2025 |  |  | 2.30 | % |  | LIBOR 1 month |  |  | 25,000 |  |  |  | (138 | ) |  |  | — |  |
SunTrust Bank |  | January 2026 |  |  | 1.93 | % |  | LIBOR 1 month |  |  | 25,000 |  |  |  | 553 |  |  |  | 429 |  |
Wells Fargo Bank, N.A. |  | February 2021 |  |  | 2.39 | % |  | LIBOR 1 month |  |  | 35,000 |  |  |  | (369 | ) |  |  | (1,013 | ) |
Wells Fargo Bank, N.A. |  | October 2024 |  |  | 2.72 | % |  | LIBOR 1 month |  |  | 15,000 |  |  |  | (510 | ) |  |  | (732 | ) |
Wells Fargo Bank, N.A. |  | January 2028 |  |  | 2.37 | % |  | LIBOR 1 month |  |  | 75,000 |  |  |  | (590 | ) |  |  | — |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 5,988 |  |  | $ | (619 | ) |
(a) | Interest rate swap was assumed in October 2017 as part of an UPREIT transaction.
Total Loss Recognized and Location of Loss in Condensed Consolidated Statement of Income and Comprehensive Income (Loss) from Converting from Variable Rates to Fixed Rates | The total loss recognized, and the location of the loss in the accompanying Consolidated Statements of Income and Comprehensive Income, from converting from variable rates to fixed rates under these agreements is as follows for the years ended December 31, 2017, 2016, and 2015:
|  | Effective Portion |  |  | Ineffective Portion |
(in thousands) |  | Location of Loss Reclassified from Accumulated Other Comprehensive Income into Income |  | Amount of Loss Reclassified from Accumulated Other Comprehensive Income into Income |  |  | Location of Loss Recognized in Income on Derivatives |  | Amount of Loss Recognized in Income on Derivatives |
Interest rate swaps |  |  |  |  |  |  |  |  |  |  |  |
2017 |  | Interest expense |  | $ | 5,099 |  |  | Interest expense |  | $ | 332 |
2016 |  | Interest expense |  |  | 9,322 |  |  | Interest expense |  |  | — |
2015 |  | Interest expense |  |  | 7,162 |  |  | Interest expense |  |  | — |

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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5618551-113959 + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41641-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624163-113959 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41678-113959 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41638-113959 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5580258-113959 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5579245-113959 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5579240-113959 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84234895&loc=d3e41620-113959 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(n)(2)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
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