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Interest Rate Swap Derivatives (Tables) | 9 Months Ended
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Sep. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of derivative instruments | The table below identifies the balance sheet category and fair values of the Company’s designated cash flow hedge derivative instruments as of September 30, 2017 and December 31, 2016.
|  | Swap |  |  | Notional |  |  |  |  |  | Balance Sheet |  |  |  |  |  |  |  |
September 30, 2017 |  | Number |  |  | Amount |  |  | Fair Value |  |  | Category |  | Receive Rate |  | Pay Rate |  |  | Maturity |
(dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap |  |  | (1 | ) |  | $ | 75,000 |  |  | $ | 116 |  |  | Other Assets |  | 1 month USD-LIBOR-BBA w/ -1 day lookback +10 basis points |  |  | 1.71 | % |  | March 31, 2020 |
Interest rate swap |  |  | (2 | ) |  |  | 100,000 |  |  |  | (24 | ) |  | Other Liabilities |  | Federal Funds Effective Rate +10 basis points |  |  | 1.74 | % |  | April 15, 2021 |
Interest rate swap |  |  | (3 | ) |  |  | 75,000 |  |  |  | 75 |  |  | Other Assets |  | 1 month USD-LIBOR-BBA w/ -1 day lookback +10 basis points |  |  | 1.92 | % |  | March 31, 2022 |
|  |  | Total |  |  | $ | 250,000 |  |  | $ | 167 |  |  |  |  |  |  |  |  |  |  |  |
|  | Swap |  |  | Notional |  |  |  |  |  | Balance Sheet |  |  |  |  |  |  |  |
December 31, 2016 |  | Number |  |  | Amount |  |  | Fair Value |  |  | Category |  | Receive Rate |  | Pay Rate |  |  | Maturity |
(dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap |  |  | (1 | ) |  | $ | 75,000 |  |  | $ | (197 | ) |  | Other Liabilities |  | 1 month USD-LIBOR-BBA w/ -1 day lookback +10 basis points |  |  | 1.71 | % |  | March 31, 2020 |
Interest rate swap |  |  | (2 | ) |  |  | 100,000 |  |  |  | (514 | ) |  | Other Liabilities |  | Federal Funds Effective Rate +10 basis points |  |  | 1.74 | % |  | April 15, 2021 |
Interest rate swap |  |  | (3 | ) |  |  | 75,000 |  |  |  | 19 |  |  | Other Assets |  | 1 month USD-LIBOR-BBA w/ -1 day lookback +10 basis points |  |  | 1.92 | % |  | March 31, 2022 |
|  |  | Total |  |  | $ | 250,000 |  |  | $ | (692 | )
Schedule of pretax net gain (loss) of derivative instruments | The table below presents the pre-tax net gains (losses) of the Company’s cash flow hedges for the nine months ended September 30, 2017 and for the year ended December 31, 2016.
|  |  |  |  | Nine Months Ended September 30, 2017 |
|  |  |  |  | Effective Portion |  |  | Ineffective Portion |
|  |  |  |  |  |  |  | Reclassified from AOCI |  |  | Recognized in Income |
|  |  |  |  | Amount of |  |  | into income |  |  | on Derivatives |
|  | Swap |  |  | Pre-tax gain (loss) |  |  |  |  | Amount of |  |  |  |  | Amount of |
|  | Number |  |  | Recognized in OCI |  |  | Category |  | Gain (Loss) |  |  | Category |  | Gain (Loss) |
(dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap |  |  | (1 | ) |  | $ | 116 |  |  | Interest Expense |  | $ | (338 | ) |  | Other Expense |  | $ | — |
Interest rate swap |  |  | (2 | ) |  |  | (24 | ) |  | Interest Expense |  |  | (525 | ) |  | Other Expense |  |  | — |
Interest rate swap |  |  | (3 | ) |  |  | 75 |  |  | Interest Expense |  |  | (458 | ) |  | Other Expense |  |  | (1 | )
|  |  | Total |  |  | $ | 167 |  |  |  |  | $ | (1,321 | ) |  |  |  | $ | (1 | )
|  |  |  |  | Year Ended December 31, 2016 |
|  |  |  |  | Effective Portion |  |  | Ineffective Portion |
|  |  |  |  |  |  |  | Reclassified from AOCI |  |  | Recognized in Income |
|  |  |  |  | Amount of |  |  | into income |  |  | on Derivatives
|  | Swap |  |  | Pre-tax gain (loss) |  |  |  |  | Amount of |  |  |  |  | Amount of |
|  | Number |  |  | Recognized in OCI |  |  | Category |  | Gain (Loss) |  |  | Category |  | Gain (Loss) |
(dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap |  |  | (1 | ) |  | $ | (197 | ) |  | Interest Expense |  | $ | (628 | ) |  | Other Expense |  | $ | — |
Interest rate swap |  |  | (2 | ) |  |  | (514 | ) |  | Interest Expense |  |  | (880 | ) |  | Other Expense |  |  | — |
Interest rate swap |  |  | (3 | ) |  |  | 19 |  |  | Interest Expense |  |  | (747 | ) |  | Other Expense |  |  | 1 |
|  |  | Total |  |  | $ | (692 | ) |  |  |  | $ | (2,255 | ) |  |  |  | $ | 1
Schedule of offsetting liabilities of derivatives | The Company generally offsets such financial instruments for financial reporting purposes.
Nine Months Ended September 30, 2017
Offsetting of Derivative Liabilities (dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Gross Amounts Not Offset in the Balance Sheet
|  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Balance Sheet |  |  | Net Amounts of Liabilities presented in the Balance Sheet |  |  | Financial Instruments |  |  | Cash Collateral Posted |  |  | Net Amount |
Counterparty 1 |  | $ | 24 |  |  | $ | (75 | ) |  | $ | (51 | ) |  | $ | — |  |  | $ | (560 | ) |  | $ | (611 | )
Counterparty 2 |  |  | (116 | ) |  |  | — |  |  |  | (116 | ) |  |  | — |  |  |  | (330 | ) |  |  | (446 | )
|  | $ | (92 | ) |  | $ | (75 | ) |  | $ | (167 | ) |  | $ | — |  |  | $ | (890 | ) |  | $ | (1,057 | )
Year Ended December 31, 2016
Offsetting of Derivative Liabilities (dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Gross Amounts Not Offset in the Balance Sheet
|  | Gross Amounts of Recognized Liabilities |  |  | Gross Amounts Offset in the Balance Sheet |  |  | Net Amounts of Liabilities presented in the Balance Sheet |  |  | Financial Instruments |  |  | Cash Collateral Posted |  |  | Net Amount |
Counterparty 1 |  | $ | 514 |  |  | $ | (19 | ) |  | $ | 495 |  |  | $ | — |  |  | $ | (380 | ) |  | $ | 115 |
Counterparty 2 |  |  | 197 |  |  |  | — |  |  |  | 197 |  |  |  | — |  |  |  | (170 | ) |  |  | 27 |
|  | $ | 711 |  |  | $ | (19 | ) |  | $ | 692 |  |  | $ | — |  |  | $ | (550 | ) |  | $ | 142

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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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