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Interest Rate Swap Derivatives (Tables)

9 Months Ended

Sep. 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 and non-designated hedges as of September 30, 2018 and December 31, 2017.

						September 30, 2018										December 31, 2017
		Swap				Notional								Balance Sheet		Notional								Balance Sheet
		Number				Amount				Fair Value				Category		Amount				Fair Value				Category
Derivatives designated as hedging instruments
(dollars in thousands)
Interest rate swap			(1	)		$	75,000			$	1,240			Other Assets		$	75,000			$	598			Other Assets
Interest rate swap			(2	)			100,000				2,539			Other Assets			100,000				821			Other Assets
Interest rate swap			(3	)			75,000				2,648			Other Assets			75,000				837			Other Assets
			Total			$	250,000			$	6,427					$	250,000			$	2,256
Derivatives not designated as hedging instruments
(dollars in thousands)
Other Contracts			(1	)			27,500				29			Other Liabilities			—				—			Other Liabilities
			Total			$	27,500			$	29					$	—			$	—

Schedule of pretax net gains (losses) of dsignated cash flow hedges

The table below presents the pre-tax net gains (losses) of the Company’s designated cash flow hedges for the three and nine months ended September 30, 2018 and 2017.

						Three Months Ended September 30, 2018										Three Months Ended September 30, 2017
						Amount of				Reclassified from AOCI into Income						Amount of				Reclassified from AOCI into Income
		Swap				Pre-tax gain						Amount of				Pre-tax (loss)						Amount of
		Number				Recognized in OCI				Category		Gain (Loss)				Recognized in OCI				Category		(Loss)
(dollars in thousands)
Interest rate swap			(1	)		$	111			Interest Expense		$	90			$	26			Interest Expense		$	(72	)
Interest rate swap			(2	)			426			Interest Expense			73				(8	)		Interest Expense			(122	)
Interest rate swap			(3	)			312			Interest Expense			51				(56	)		Interest Expense			(113	)
			Total			$	849					$	214			$	(38	)				$	(307	)

						Nine Months Ended September 30, 2018										Nine Months Ended September 30, 2017
									Reclassified from AOCI into Income											Reclassified from AOCI into Income
			Swap Number			Amount of Pre-tax gain Recognized in OCI			Category			Amount of Gain (Loss)				Amount of Pre-tax (loss) Recognized in OCI				Category		Amount of  (Loss)
(dollars in thousands)
Interest rate swap			(1	)		$	791			Interest Expense		$	148			$	(26	)		Interest Expense		$	(338	)
Interest rate swap			(2	)			1,769			Interest Expense			51				(35	)		Interest Expense			(525	)
Interest rate swap			(3	)			1,841			Interest Expense			31				(400	)		Interest Expense			(458	)
			Total			$	4,401					$	230			$	(461	)				$	(1,321	)

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 nine months ended September 30, 2018 and 2017.

		Location and Amount of Gain or (Loss) Recognized in Income on Cash Flow Hedging Relationships
		Three Months Ended September 30, 2018								Three Months Ended September 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		$	214			$	—			$	(307	)		$	—
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		$	214			$	—			$	(307	)		$	—

		Location and Amount of Gain or (Loss) Recognized in Income on Cash Flow Hedging Relationships
		Nine Months Ended September 30, 2018								Nine Months Ended September 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		$	230			$	—			$	(1,321	)		$	—
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		$	230			$	—			$	(1,321	)		$	—

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 September 30, 2018 and December 31, 2017.

As of September 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		$	5,220			$	—			$	5,220			$	—			$	—			$	5,220
Counterparty 2			1,270				—			$	1,270				—				—			$	1,270
Counterparty 3			(29	)			—			$	(29	)			—				—			$	(29	)
		$	6,461			$	—			$	6,461			$	—			$	—			$	6,461

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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-Section 50
-Paragraph 4A
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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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