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DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 12 Months Ended
Dec. 31, 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 consolidated balance sheets as of December 31, 2017 and 2016 (in thousands):

 

 

 

 

 

Fair Value as of December 31,

 

Derivative Instrument

 

Balance Sheet Classification

 

2017

 

2016

 

Interest Rate Swaps

 

Other Assets

 

$
196

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value as of December 31,

 

Derivative Instrument

 

Balance Sheet Classification

 

2017

 

2016

 

Interest Rate Swaps

 

Other Liabilities

 

$

—

 

$
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 year ended December 31,

 

Derivative Instruments

 

2017

 

2016

 

Interest Rate Swaps

 

$
87

 

$
111

 

 

 

 

 

 

 

 

 

 

 

 

Net reclassification from AOCI into income (effective portion)

 

 

 

For the year ended December 31,

 

Statement of earnings classification

 

2017

 

2016

 

2015

 

Interest expense

 

$
313

 

$
108

 

$
194