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Fair Value of Derivative Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2018
Derivative Instruments And Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following table summarizes the terms and fair values of the Company’s derivative financial instruments as of September 30, 2018 and December 31, 2017. The notional amounts provide an indication of the extent of the Company’s involvement in these instruments at that time, but do not represent exposure to credit, interest rate or market risks (amounts presented in thousands and included in other assets and other liabilities on the Company’s consolidated balance sheets).

 

Hedge Product

 

Hedge Type

 

Designation

 

Notional Amount

 

 

Strike

 

 

Trade Date

 

Maturity Date

 

Fair value

 

 

 

 

 

 

 

9/30/2018

 

 

12/31/2017

 

 

 

 

 

 

 

 

 

 

9/30/2018

 

 

12/31/2017

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Swap

 

Interest Rate

 

Cash Flow

(a)

$

250,000

 

 

$

250,000

 

 

 

3.718

%

 

October 8, 2015

 

October 8, 2022

 

$

12,178

 

 

$

5,694

 

Swap

 

Interest Rate

 

Cash Flow

(a)

 

25,774

 

 

 

25,774

 

 

 

3.300

%

 

December 22, 2011

 

January 30, 2021

 

 

546

 

 

 

25

 

Swap

 

Interest Rate

 

Cash Flow

(a)

 

25,774

 

 

 

25,774

 

 

 

3.090

%

 

January 6, 2012

 

October 30, 2019

 

 

277

 

 

 

59

 

 

 

 

 

 

 

$

301,548

 

 

$

301,548

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a)

Hedging unsecured variable rate debt.