Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Instruments Not Designated as Hedging Instruments

The following table presents the fair value of derivative instruments and their location in our consolidated balance sheets at December 31, 2019, respectively (dollar amounts in thousands):

Type of Derivative Instrument	Balance Sheet Location	December 31, 2019
Interest rate swaps (1)	Derivative assets	$	15,878

(1)All of the Company’s interest rate swaps were cleared through a central clearing house. The Company exchanged variation margin for swaps based upon daily changes in fair value. As a result of amendments to rules governing certain central clearing activities, the exchange of variation margin is treated as a legal settlement of the exposure under the swap contract. Previously, such payments were treated as cash collateral pledged against the exposure under the swap contract. Accordingly, the Company accounted for the receipt or payment of variation margin as a direct reduction to or increase of the carrying value of the interest rate swap asset or liability on the Company’s consolidated balance sheets. Includes $29.0 million of derivative liabilities netted against a variation margin of $44.8 million at December 31, 2019.

Schedule of Activity of Derivatives Not Designated as Hedging Instruments

The tables below summarize the activity of derivative instruments not designated as hedges for the years ended December 31, 2020 and 2019, respectively (dollar amounts in thousands):

	Notional Amount For the Year Ended December 31, 2020
Type of Derivative Instrument	December 31, 2019		Additions		Terminations		December 31, 2020
Interest rate swaps	$	495,500	$	—	$	(495,500)	$	—

	Notional Amount For the Year Ended December 31, 2019
Type of Derivative Instrument	December 31, 2018		Additions		Terminations		December 31, 2019
Interest rate swaps	$	495,500	$	—	$	—	$	495,500

Schedule of Components of Realized and Unrealized Gains and Losses

The following table presents the components of realized gains (losses), net and unrealized gains (losses), net related to our derivative instruments that were not designated as hedging instruments, which are included in non-interest income (loss) in our consolidated statements of operations for the years ended December 31, 2020, 2019 and 2018, respectively (dollar amounts in thousands):

	For the Years Ended December 31,
	2020				2019				2018
	Realized Gains (Losses)		Unrealized Gains (Losses)		Realized Gains (Losses)		Unrealized Gains (Losses)		Realized Gains (Losses)		Unrealized Gains (Losses)
Interest rate swaps	$	(73,078)	$	28,967	$	—	$	(30,722)	$	—	$	909

Schedule of Interest Rate Swaps, Weighted Average Rate

The following table presents information about our interest rate swaps whereby we receive floating rate payments in exchange for fixed rate payments as of December 31, 2019 (dollar amounts in thousands):

	December 31, 2019
Swap Maturities	Notional Amount		Weighted Average Fixed Interest Rate		Weighted Average Variable Interest Rate
2024	$	98,000	2.18	%	1.98	%
2027	247,500		2.39	%	1.94	%
2028	150,000		3.23	%	1.92	%
Total	$	495,500	2.60	%	1.95	%