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Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Derivative Instruments

As of June 30, 2020 and December 31, 2019, the total notional amount of the Company’s swaps was $389.4 million, and $260.0 million, respectively. The location of the asset and liability, and their respective fair values, are summarized in the tables below.

June 30, 2020

Asset Derivatives

Liability Derivatives

Balance Sheet     Location

Fair     Value

Balance Sheet     Location

Fair     Value

(Dollars in thousands)

Derivatives not designated as hedging instruments:

Interest rate swaps

Other assets

$

38,626

Other liabilities

$

38,626

Total derivatives

$

38,626

$

38,626

December 31, 2019

Asset Derivatives

Liability Derivatives

Balance Sheet     Location

Fair     Value

Balance Sheet     Location

Fair     Value

(Dollars in thousands)

Derivatives not designated as hedging instruments:

Interest rate swaps

Other assets

$

11,502

Other liabilities

$

11,502

Total derivatives

$

11,502

$

11,502

Effect of Derivative Instruments on Consolidated Statement of Earnings

The following table summarizes the effect of derivative financial instruments on the condensed consolidated statement of earnings for the periods presented.

Derivatives Not Designated as Hedging Instruments		Location of Gain Recognized in   Income on Derivative Instruments				Amount of Gain Recognized in Income on   Derivative Instruments
						Three Months Ended June 30,								Six Months Ended June 30,
						2020				2019				2020				2019
						(Dollars in thousands)
Interest rate swaps			Other income			$	2,185			$	373			$	2,558			$	757
Total						$	2,185			$	373			$	2,558			$	757

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- References

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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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4E
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624181-113959

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
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-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959

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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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959

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