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Derivatives and Hedging Activities (Tables)
 6 Months Ended
Jun. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments, Gain (Loss)
The table below details the location in the accompanying consolidated financial statements of the gain or loss recognized on interest rate derivatives designated as cash flow hedges for the three and six months ended June 30, 2016 and 2015.
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
(In thousands)
 
2016
 
2015
 
2016
 
2015
Amount of (loss) gain recognized in accumulated other comprehensive loss from interest rate derivatives (effective portion)
 
$
(149
)
 
$
10

 
$
(570
)
 
$
(389
)
Amount of loss reclassified from accumulated other comprehensive loss into income as interest expense (effective portion)
 
$
(101
)
 
$
(124
)
 
$
(204
)
 
$
(247
)
Amount of gain (loss) recognized in income on derivative (ineffective portion, reclassifications of missed forecasted transactions and amounts excluded from effectiveness testing) *
 
$
—

 
$
1

 
$
(3
)
 
$
(1
)
_________________________________
* The Company reclassified approximately $3,000 and $1,000 of other comprehensive loss, net to interest expense during the six months ended June 30, 2016 and June 30, 2015, respectively, which represented the ineffective portion of the change in fair value of the derivative. The Company reclassified approximately $1,000 of other comprehensive income, net to interest expense during the three months ended June 30, 2015. There was no net gain or loss recognized during the three months ended June 30, 2016 as a result of reclassification of other comprehensive income and other comprehensive loss, net.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The table below presents the fair value of the Company's derivative financial instruments as well as their classification on the accompanying consolidated balance sheets as of June 30, 2016 and December 31, 2015:
(In thousands)
 
Balance Sheet Location
 
June 30, 2016
 
December 31, 2015
Derivatives designated as hedging instruments:
 
 
 
 
 
 
Interest Rate Swap
 
Derivatives, at fair value
 
$
(784
)
 
$
(415
)
Schedule of Interest Rate Derivatives
As of June 30, 2016 and December 31, 2015, the Company had the following outstanding interest rate derivatives that were designated as cash flow hedges of interest rate risk:
 
 
June 30, 2016
 
December 31, 2015
Interest Rate Derivative
 
Number of
Instruments
 
Notional Amount
 
Number of
Instruments
 
Notional Amount
 
 
 
 
(In thousands)
 
 
 
(In thousands)
Interest Rate Swap
 
1
 
$
34,098

 
1
 
$
34,098
Offsetting Assets
The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company's derivatives as of June 30, 2016 and December 31, 2015. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the accompanying consolidated balance sheets:
 
 
 
 
 
 
 
 
Gross Amounts Not Offset on the Balance Sheet
 
 
(In thousands)
 
Gross Amounts of Recognized Liabilities
 
Gross Amounts Offset on the Balance Sheet
 
Net Amounts of Liabilities presented on the Balance Sheet
 
Financial Instruments
 
Cash Collateral Received (Posted)
 
Net Amount
June 30, 2016
 
$
(784
)
 
$
—

 
$
(784
)
 
$
—

 
$
—

 
$
(784
)
December 31, 2015
 
$
(415
)
 
$
—

 
$
(415
)
 
$
—

 
$
—

 
$
(415
)