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Derivative Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s financial instruments that are subject to offsetting as of September 30, 2019 and December 31, 2018. The gross amounts of assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that financial assets and liabilities are presented on the Balance Sheet.
As of September 30, 2019
|  |  | Gross Amounts Not Offset in the Statement of Financial Position |  |
(in thousands) | Gross Amounts Recognized |  | Gross Amounts Offset in the Statement of Financial Position |  | Net Amounts of Assets presented in the Statement of Financial Position |  | Financial Instruments |  | Fair Value Collateral Posted |  | Net Amount
Assets: |  |  |  |  |  |  |  |  |  |  |
Interest rate swap | $ | 13,561 |  |  | $ | — |  |  | $ | 13,561 |  |  | $ | 22 |  |  | $ | — |  |  | $ | 13,539 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |
Interest rate swap | $ | 18,451 |  |  | $ | — |  |  | $ | 18,451 |  |  | $ | 22 |  |  | $ | 17,785 |  |  | $ | 644 |
Securities sold under agreements to repurchase | 162,920 |  |  | — |  |  | 162,920 |  |  | — |  |  | 162,920 |  |  | — |
As of December 31, 2018
|  |  | Gross Amounts Not Offset in the Statement of Financial Position |  |
(in thousands) | Gross Amounts Recognized |  | Gross Amounts Offset in the Statement of Financial Position |  | Net Amounts of Assets presented in the Statement of Financial Position |  | Financial Instruments |  | Fair Value Collateral Posted |  | Net Amount
Assets: |  |  |  |  |  |  |  |  |  |  |
Interest rate swap | $ | 2,217 |  |  | $ | — |  |  | $ | 2,217 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,217 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |
Interest rate swap | $ | 2,217 |  |  | $ | — |  |  | $ | 2,217 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,217 |
Securities sold under agreements to repurchase | 221,450 |  |  | — |  |  | 221,450 |  |  | — |  |  | 221,450 |  |  | — |
| Derivative Assets |  | Derivative Liabilities
| September 30, 2019 | December 31, 2018 |  | September 30, 2019 | December 31, 2018
(in thousands) | Notional Amount | Balance Sheet Location | Fair Value | Notional Amount | Balance Sheet Location | Fair Value |  | Balance Sheet Location | Fair Value | Balance Sheet Location | Fair Value
Derivatives Designated as Hedging Instruments
Interest rate swap | $ | 185,886 |  | Other Assets | $ | — |  | $ | — |  | Other Assets | $ | — |  |  | Other Liabilities | $ | 3,785 |  | Other Liabilities | $ | — |
Total |  |  | $ | — |  |  |  | $ | — |  |  |  | $ | 3,785 |  |  | $ | — |
Derivatives not Designated as Hedging Instruments
Interest rate swap | $ | 628,864 |  | Other Assets | $ | 13,561 |  | $ | 494,567 |  | Other Assets | $ | 2,217 |  |  | Other Liabilities | $ | 14,666 |  | Other Liabilities | $ | 2,217 |
Foreign exchange forward contracts | — |  | Other Assets | — |  | 806 |  | Other Assets | 806 |  |  | Other Liabilities | — |  | Other Liabilities | 806 |
Total |  |  | $ | 13,561 |  |  |  | $ | 3,023 |  |  |  | $ | 14,666 |  |  | $ | 3,023 |
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance | The tables below present the effect of cash flow hedge accounting on Accumulated Other Comprehensive Income for the three and nine months ended September 30, 2019. The Company did not have cash flow hedging instruments in 2018. The loss reclassified from accumulated OCI is recorded as an adjustment to interest expense.
|  | Amount of Loss Recognized in OCI |  | Amount of Loss Reclassified from Accumulated OCI into Income
(in thousands) |  | Three months ended September 30, 2019 |  | Nine months ended September 30, 2019 |  | Three months ended September 30, 2019 |  | Nine months ended September 30, 2019
Derivatives in Cash Flow Hedging Relationships |  |  |  |  |  |  |  |
Interest rate swap |  | $ | (846 | ) |  | $ | (3,785 | ) |  | $ | (42 | ) |  | $ | (48 | )
Total |  | $ | (846 | ) |  | $ | (3,785 | ) |  | $ | (42 | ) |  | $ | (48 | )

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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/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 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
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