Derivative and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

The following is a summary of the terms of the Company’s interest rate swaps as of December 31, 2016 (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

Schedule of Derivative Liabilities at Fair Value

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
December 31, 2016:
Assets
Derivative financial instruments	$	—	$	875	$	—	$	875

Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location

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 December 31, 2016 and 2015, respectively (in thousands):



Derivatives designed as hedging instruments	Balance sheet location	December 31, 2016 Fair Value		December 31, 2015 Fair Value
Interest rate products	Other assets	$	875	$	—

Derivative Instruments, Gain (Loss)

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 years ended December 31, 2016, 2015, and 2014, respectively (in thousands). Amounts reclassified from other comprehensive income (“OCI”) due to ineffectiveness are recognized as interest expense.



	Year Ended December 31,
	2016		2015		2014
Amount of gain (loss) recognized in OCI on derivatives	$	541	$	—	$	(3,132	)
Amount of loss reclassified from accumulated OCI into interest	$	2,473	$	2,139	$	3,219