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Interest Rate Swap Derivatives (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2018 and December 31, 2017.

					June 30, 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			$	1,220			Other Assets		$	75,000			$	598			Other Assets
Interest rate swap		(2	)			100,000				2,185			Other Assets			100,000				821			Other Assets
Interest rate swap		(3	)			75,000				2,387			Other Assets			75,000				837			Other Assets
		Total			$	250,000			$	5,792					$	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 and six months ended June 30, 2018 and 2017.

					Three Months Ended June 30, 2018										Three Months Ended June 30, 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	)		$	210			Interest Expense		$	59			$	(195	)		Interest Expense		$	(112	)
Interest rate swap		(2	)			435			Interest Expense			25				(345	)		Interest Expense			(172	)
Interest rate swap		(3	)			464			Interest Expense			20				(461	)		Interest Expense			(152	)
		Total			$	1,109					$	104			$	(1,001	)				$	(436	)

					Six Months Ended June 30, 2018										Six Months Ended June 30, 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	)		$	680			Interest Expense		$	58			$	(52	)		Interest Expense		$	(266	)
Interest rate swap		(2	)			1,342			Interest Expense			(22	)			(27	)		Interest Expense			(403	)
Interest rate swap		(3	)			1,530			Interest Expense			(20	)			(344	)		Interest Expense			(345	)
		Total			$	3,552					$	16			$	(423	)				$	(1,014	)

Schedule of the effect of derivative financial instruments on the Consolidated Statements of Operations

The table below presents the effect of the Company’s derivative financial instruments on the Consolidated Statements of Operations for the three and six months ended June 30, 2018 and 2017.

		Location and Amount of Gain or (Loss) Recognized in Income on Cash Flow Hedging Relationships
		Three Months Ended June 30, 2018								Three Months Ended June 30, 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		$	104			$	—			$	(436	)		$	—
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		$	104			$	—			$	(436	)		$	—

		Location and Amount of Gain or (Loss) Recognized in Income on Cash Flow Hedging Relationships
		Six Months Ended June 30, 2018								Six Months Ended June 30, 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		$	16			$	—			$	(1,014	)		$	—
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		$	16			$	—			$	(1,014	)		$	—

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 June 30, 2018 and December 31, 2017.

As of June 30, 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		$	4,595			$	—			$	4,595			$	—			$	—			$	4,595
Counterparty 2			1,244				—			$	1,244				—				—				1,244
		$	5,839			$	—			$	5,839			$	—			$	—			$	5,839

As of December 31, 2017
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		$	1,619			$	—			$	1,619			$	—			$	—			$	1,619
Counterparty 2			582				—				582				—				—				582
		$	2,201			$	—			$	2,201			$	—			$	—			$	2,201

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Tabular disclosure of derivative and other financial liabilities that are subject to offsetting, including master netting arrangements.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=51824906&loc=SL20225877-175312

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-Name Accounting Standards Codification
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Tabular disclosure of the effective portion of gains and losses on derivative instruments (and nonderivative instruments) designated and qualifying in cash flow hedges recorded in accumulated other comprehensive income (loss) during the term of the hedging relationship and reclassified into earnings during the current period.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959

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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/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

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-Publisher FASB
-Name Accounting Standards Codification
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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

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-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

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