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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Sep. 30, 2017
DERIVATIVE FINANCIAL INSTRUMENTS  
Schedule of fair value of the Company's derivative financial instruments as well as their classification on the condensed consolidated balance sheets

 

The tables below present the fair value of the Company’s derivative financial instruments as well as their classification on the condensed consolidated balance sheets as of September 30, 2017 and December 31, 2016 (in thousands):

 

 

 

 

 

Fair Value

 

Derivative Instruments

 

Balance Sheet Classification

 

September 30, 2017

 

December 31, 2016

 

Interest Rate Swaps

 

Other Liabilities

 

$
208

 

$
30

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of effect of the Company's derivative financial instruments on the condensed consolidated statement of income and comprehensive income

 

The effect of the Company’s derivative financial instruments on the condensed consolidated statement of income and comprehensive income is as follows (in thousands):

 

 

 

Net deferral in OCI of derivatives (effective portion)

 

 

 

For the quarter ended

 

For the nine months ended

 

 

 

September 30,

 

September 30,

 

Derivative Instruments

 

2017

 

2016

 

2017

 

2016

 

Interest Rate Swaps

 

$
(34

)

$
39

 

$
(417

)

$
(145

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net reclassification from AOCI into income (effective portion)

 

 

 

For the quarter ended

 

For the nine months ended

 

Statement of earnings

 

September 30,

 

September 30,

 

 

 

 

 

 

 

classification

 

2017

 

2016

 

2017

 

2016

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$
79

 

$
27

 

$
239

 

$
89