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Hedge Accounting | 12 Months Ended
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Dec. 31, 2020
Hedge Accounting [Abstract] |
Hedge Accounting | NOTE 18 – HEDGE ACCOUNTING As of December 31, 2020 and 2019, the Company held interest rate derivatives in the total notional amount of $8.0 million and $8.0, respectively. The derivatives are recorded on the balance sheet at fair value and are included in the following line items:
|  | Liability Derivatives
|  | December 31,
|  | 2020 |  | 2019
(Dollars in thousands) |  | Balance sheet location |  | Fair value |  | Balance sheet location |  | Fair value
Interest rate contracts |  | Derivative financial instruments - current portion |  | $ | 218 |  | Derivative financial instruments - current portion |  | $ | 109
|  | Derivative financial instruments - non-current portion |  |  | 212 |  | Derivative financial instruments - non-current portion |  |  | 233
Total derivatives designated as hedging instruments |  |  |  | $ | 430 |  |  |  | $ | 342
Total derivatives |  |  |  | $ | 430 |  |  |  | $ | 342
We have no derivatives designated as hedging instruments which are in asset positions. The changes in fair value are recorded in Other Comprehensive Income and released into interest expense in the same period(s) in which the hedged transactions affect earnings. In 2020 and 2019, the derivative instruments affected Comprehensive Income as follows:
(Dollars in thousands) |  | Location of Loss Recognized in Income on Derivatives |  | Amount of Loss Recognized in Income on Derivatives
|  |  |  |  | 2020 |  |  | 2019
Interest rate contracts |  | Interest expense, net |  | $ | 202 |  | $ | 68
Total |  |  |  | $ | 202 |  | $ | 68
|  | Loss Recognized in OCI on Derivatives (Effective Portion) |  | Loss Reclassified from OCI into Income (Effective Portion) |  | Loss Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)
(Dollars in thousands) |  | Amount |  | Line Item |  | Amount |  | Line Item |  | Amount
|  | 2020 |  | 2019 |  |  |  | 2020 |  | 2019 |  |  |  | 2020 |  | 2019
Interest rate contracts |  | $ | 267 |  | $ | 182 |  | Interest expense, net |  | $ | 202 |  | $ | 68 |  | Interest expense, net |  | $ | — |  | $ | —
Total |  | $ | 267 |  | $ | 182 |  |  |  | $ | 202 |  | $ | 68 |  |  |  | $ | — |  | $ | —
In 2021, the Company expects to release $241,000 to earnings.

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- References No definition available. + Details
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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details
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