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Derivative Financial Instruments and Hedging Activities (Tables) | 3 Months Ended
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Mar. 31, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
Summary of Derivative Instruments |
| March 31, 2020 |
| Notional Amount |  |  | Fair Value |
(in thousands) |  |  |  |  |  |  |
Interest Rate Swap Agreements |  |  |  |  |  |  |
Receive Fixed/Pay Variable Swaps | $ | 2,134 |  |  | $ | 381 |
Pay Fixed/Receive Variable Swaps |  | 2,134 |  |  |  | (381 | )
Summary of Identified Hedge Layers | The identified hedge layers are summarized as follows, (in thousands):
3-Month LIBOR |  |  | Cash & Securities |  |  | Period Hedged |
Hedged Notional |  |  | Exposure Hedged |  |  | From |  | To |
$ | 15,000 |  |  | $ | 15,000 |  |  | July 1, 2019 |  | July 1, 2022 |
| 25,000 |  |  |  | 25,000 |  |  | August 2, 2019 |  | February 2, 2023 |
| 10,000 |  |  |  | 10,000 |  |  | August 29, 2019 |  | August 29, 2023 |
Each hedge layer identified in the table above has a variable receive leg of 3-month LIBOR and a fixed pay leg of 1.80%. At the time the hedges identified in the table above expire, new hedges will begin summarized as follows (in thousands):
3-Month LIBOR |  |  | Cash & Securities |  |  | Period Hedged |
Hedged Notional |  |  | Exposure Hedged |  |  | From |  | To |
$ | 15,000 |  |  | $ | 15,000 |  |  | July 1, 2022 |  | July 1, 2032 |
| 25,000 |  |  |  | 25,000 |  |  | February 2, 2023 |  | February 2, 2033 |
| 10,000 |  |  |  | 10,000 |  |  | August 29, 2023 |  | August 29, 2033 |
Each hedge layer identified in the table above has a variable receive leg of 3-month LIBOR and a fixed pay leg ranging from 0.92% to 0.95%. Beginning in 2020, the Company entered into three additional hedges summarized as follows (in thousands):
3-Month LIBOR |  |  | Cash & Securities |  |  | Period Hedged |
Hedged Notional |  |  | Exposure Hedged |  |  | From |  | To |
$ | 20,000 |  |  | $ | 20,000 |  |  | March 13, 2020 |  | March 13, 2030 |
| 35,000 |  |  |  | 35,000 |  |  | May 6, 2020 |  | May 6, 2027 |
| 10,000 |  |  |  | 10,000 |  |  | May 29, 2020 |  | May 29, 2027 |

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- Definition Summary of notional and exposure of hedging. + References No definition available. + 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41641-113959 Reference 8: 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 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -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 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5579240-113959 + Details
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