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Interest Rate Swap Derivatives (Tables) | 3 Months Ended
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Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of balance sheet category and fair values of the 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 March 31, 2018 and December 31, 2017.
|  |  |  |  | March 31, 2018 |  | December 31, 2017
|  | Swap |  |  | Notional |  |  |  |  |  | Balance Sheet |  | Notional |  |  |  |  |  | Balance Sheet
|  | Number |  |  | Amount |  |  | Fair Value |  |  | Category |  | Amount |  |  | Fair Value |  |  | Category
(dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap |  |  | (1 | ) |  | $ | 75,000 |  |  | $ | 1,070 |  |  | Other Assets |  | $ | 75,000 |  |  | $ | 598 |  |  | Other Assets
Interest rate swap |  |  | (2 | ) |  |  | 100,000 |  |  |  | 1,775 |  |  | Other Assets |  |  | 100,000 |  |  |  | 821 |  |  | Other Assets
Interest rate swap |  |  | (3 | ) |  |  | 75,000 |  |  |  | 1,943 |  |  | Other Assets |  |  | 75,000 |  |  |  | 837 |  |  | Other Assets
|  |  | Total |  |  | $ | 250,000 |  |  | $ | 4,788 |  |  |  |  | $ | 250,000 |  |  | $ | 2,256 |  |  |
Schedule of pretax net gains (losses) of derivative instruments | The table below presents the pre-tax net gains (losses) of the Company’s cash flow hedges for the three months ended March 31, 2018 and 2017.
|  |  |  |  | Three Months Ended March 31, 2018 |  |  | Three Months Ended March 31, 2017 |
|  |  |  |  | Amount of |  |  | Reclassified from AOCI into Income |  | Amount of |  |  | Reclassified from AOCI into Income
|  | Swap |  |  | Pre-tax gain (loss) |  |  |  |  | Amount of |  |  | Pre-tax gain (loss) |  |  |  |  | Amount of |
|  | Number |  |  | Recognized in OCI |  |  | Category |  | Gain (Loss) |  |  | Recognized in OCI |  |  | Category |  | Gain (Loss) |
(dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swap |  |  | (1 | ) |  | $ | 471 |  |  | Interest Expense |  | $ | (1 | ) |  | $ | 100 |  |  | Interest Expense |  | $ | (154 | )
Interest rate swap |  |  | (2 | ) |  |  | 907 |  |  | Interest Expense |  |  | (47 | ) |  |  | 35 |  |  | Interest Expense |  |  | (231 | )
Interest rate swap |  |  | (3 | ) |  |  | 1,065 |  |  | Interest Expense |  |  | (40 | ) |  |  | 328 |  |  | Interest Expense |  |  | (193 | )
|  |  | Total |  |  | $ | 2,443 |  |  |  |  | $ | (88 | ) |  | $ | 463 |  |  |  |  | $ | (578 | )
The table below presents the effect of the Company’s derivative financial instruments on the Consolidated Statements of Operations at March 31, 2018 and 2017.
|  | Location and Amount of Gain or (Loss) Recognized in Income on Cash Flow Hedging Relationships |
|  | Three Months Ended March 31, 2018 |  |  | Three Months Ended March 31, 2017 |
(dollars in thousands) |  | Interest Income (Expense) |  |  | Other Income (Expense) |  |  | Interest Income (Expense) |  |  | Other Income (Expense) |
Total amounts of income and expense line items presented in the Consolidated Statements of Operations in which the effects of cash flow hedges are recorded |  | $ | (88 | ) |  | $ | — |  |  | $ | (578 | ) |  | $ | — |
The effects of cash flow hedging: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gain or (loss) on cash flow hedging relationships in Subtopic 815-20 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest contracts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income |  | $ | (88 | ) |  | $ | — |  |  | $ | (578 | ) |  | $ | — |
Schedule of offsetting liabilities of derivatives | The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s cash flow hedge derivatives as of March 31, 2018 and December 31, 2017.
Three Months Ended March 31, 2018
Offsetting of Derivative Assets (dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Gross Amounts Not Offset in the Balance Sheet |
|  |  | Gross Amounts of Recognized Assets |  |  |  | Gross Amounts Offset in the Balance Sheet |  |  |  | Net Amounts of Assets presented in the Balance Sheet |  |  |  | Financial Instruments |  |  |  | Cash Collateral Posted |  |  |  | Net Amount |
Counterparty 1 |  | $ | 3,706 |  |  | $ | — |  |  | $ | 3,706 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,706 |
Counterparty 2 |  |  | 1,073 |  |  |  | — |  |  |  | 1,073 |  |  |  | — |  |  |  | — |  |  |  | 1,073 |
|  | $ | 4,779 |  |  | $ | — |  |  | $ | 4,779 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,779 |
Year Ended December 31, 2017
Offsetting of Derivative Assets (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 |  | $ | 1,619 |  |  | $ | — |  |  | $ | 1,619 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,619 |
Counterparty 2 |  |  | 582 |  |  |  | — |  |  |  | 582 |  |  |  | — |  |  |  | — |  |  |  | 582 |
|  | $ | 2,201 |  |  | $ | — |  |  | $ | 2,201 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,201 |

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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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