Derivatives and Hedging Activities (Tables)

6 Months Ended

Jun. 30, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of interest rate swap derivative financial instruments

As of June 30, 2017, the Company’s interest rate swap derivative financial instruments were designated as cash flow hedges and are summarized as follows:

(Dollars in thousands)	Forecasted Notional  Amount		Variable Interest Rate 1	Fixed Interest Rate 1		Payment Term
Interest rate swap	$	160,000	3 month LIBOR	3.378	%	Oct. 21, 2014 - Oct. 21, 2021
Interest rate swap	100,000		3 month LIBOR	2.498	%	Nov. 30, 2015 - Nov. 30, 2022

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¹The Company pays the fixed interest rate and the counterparty pays the Company the variable interest rate.

Summary of Pre-Tax Gains or Losses

The following table presents the pre-tax gains or losses recorded in accumulated other comprehensive income and the Company’s statements of operations relating to the interest rate swap derivative financial instruments:

	Three Months ended					Six Months ended
(Dollars in thousands)	June 30, 2017			June 30, 2016		June 30, 2017		June 30, 2016
Interest rate swaps
Amount of loss recognized in OCI (effective portion)	$	(2,108	)	(4,020	)	(1,844	)	(13,948	)
Amount of loss reclassified from OCI to interest expense	(1,262		)	(1,578	)	(2,594	)	(3,407	)
Amount of loss recognized in other non-interest expense (ineffective portion)	—			—		—		—

Offsetting liabilities

The following table discloses the offsetting of financial liabilities and interest rate swap derivative liabilities. There were no interest rate swap derivative assets at the dates presented.

	June 30, 2017				December 31, 2016
(Dollars in thousands)	Gross Amounts of Recognized Liabilities		Gross Amounts Offset in the Statements of Financial Position	Net Amounts of Liabilities Presented in the Statements of Financial Position	Gross Amounts of Recognized Liabilities	Gross Amounts Offset in the Statements of Financial Position	Net Amounts of Liabilities Presented in the Statements of Financial Position
Interest rate swaps	$	13,975	—	13,975	14,725	—	14,725