Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of March 31, 2019 and December 31, 2018. The gross 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 Balance Sheet.

As of March 31, 2019
	Assets						Gross Amounts Not Offset in the Statement of Financial Position
(in thousands)	Gross Amounts Recognized		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets presented in the Statement of Financial Position		Financial Instruments		Fair Value Collateral Posted		Net Amount
Interest rate swap	$	5,277	$	—	$	5,277	$	657	$	—	$	4,620
	Liabilities						Gross Amounts Not Offset in the Statement of Financial Position
(in thousands)	Gross Amounts Recognized		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Liabilities presented in the Statement of Financial Position		Financial Instruments		Fair Value Collateral Posted		Net Amount
Interest rate swap	$	6,541	$	—	$	6,541	$	657	$	5,216	$	668
Securities sold under agreements to repurchase	172,171		—		172,171		—		172,171		—
As of December 31, 2018
	Assets						Gross Amounts Not Offset in the Statement of Financial Position
(in thousands)	Gross Amounts Recognized		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Assets presented in the Statement of Financial Position		Financial Instruments		Fair Value Collateral Posted		Net Amount
Interest rate swap	$	2,217	$	—	$	2,217	$	—	$	—	$	2,217
	Liabilities						Gross Amounts Not Offset in the Statement of Financial Position
(in thousands)	Gross Amounts Recognized		Gross Amounts Offset in the Statement of Financial Position		Net Amounts of Liabilities presented in the Statement of Financial Position		Financial Instruments		Fair Value Collateral Posted		Net Amount
Interest rate swap	$	2,217	$	—	$	2,217	$	—	$	—	$	2,217
Securities sold under agreements to repurchase	221,450		—		221,450		—		221,450		—

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, 2019 and December 31, 2018.

	Derivative Assets								Derivative Liabilities
	As of March 31, 2019					As of December 31, 2018			As of March 31, 2019			As of December 31, 2018
(in thousands)	Notional Amount		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Interest rate swap	$	61,962	Other Assets	$	—	Other Assets	$	—	Other Liabilities	$	1,264	Other Liabilities	$	—
Total				$	—		$	—		$	1,264		$	—
Derivatives not designated as hedging instruments
Interest rate swap	$	523,017	Other Assets	$	5,277	Other Assets	$	2,217	Other Liabilities	$	5,277	Other Liabilities	$	2,217
Foreign exchange forward contracts	1,426		Other Assets	1,426		Other Assets	806		Other Liabilities	1,426		Other Liabilities	806
Total				$	6,703		$	3,023		$	6,703		$	3,023

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

The table below presents the effect of cash flow hedge accounting on Accumulated Other Comprehensive Income for the three months ended, March 31, 2019 and 2018.

Derivatives in Subtopic 815-20 Hedging Relationships	Amount of Gain or (Loss) Recognized in OCI on Derivative			Location of Gain or (Loss) Recognized from Accumulated Other Comprehensive Income into Income	Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income
(in thousands)	March 31, 2019				March 31, 2019
Derivatives in Cash Flow Hedging Relationships
Interest rate swap	$	(1,264	)	Interest Expense	$	—
Total	$	(1,264	)		$	—