Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Schedule of summary of the terms of the Company’s interest rate swaps

The following is a summary of the terms of the Company’s interest rate swaps as of March 31, 2018 (in thousands):

Swap Counterparty	Notional Amount		Effective Date	Maturity Date
Bank of Montreal	$	50,000	1/29/2016	1/31/2019
Regions Bank	$	50,000	2/29/2016	1/31/2019
Bank of Montreal	$	100,000	12/29/2017	8/31/2022
U.S. Bank	$	100,000	12/29/2017	8/31/2022

Company’s assets and liabilities measured at fair value on a recurring basis

The table below presents the Company’s assets and liabilities measured at fair value on a recurring basis, aggregated by the level in the fair value hierarchy within which those measurements fall (in thousands).

	Quoted Prices in Active Markets for Identical Assets and Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
March 31, 2018:
Assets
Derivative financial instruments	$	—	$	7,594	$	—	$	7,594
December 31, 2017:
Assets
Derivative financial instruments	$	—	$	4,321	$	—	$	4,321

Schedule of Company’s derivative financial instruments as well as their classification on the balance sheet

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the balance sheet as of March 31, 2018 and December 31, 2017, respectively (in thousands):

Derivatives designed as hedging instruments	Balance sheet location	March 31, 2018 Fair Value		December 31, 2017 Fair Value
Interest rate products	Other assets	$	7,594	$	4,321

Details the location in the financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges

The table below details the location in the financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges for the three months ended March 31, 2018 and 2017, respectively (in thousands).

	Three Months Ended March 31,
	2018		2017
Amount of gain recognized in OCI on derivatives	$	3,390	$	161
Amount of gain reclassified from AOCI into interest	$	418	$	555