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Derivative Instruments and Hedging Activity (Tables)
9 Months Ended
Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Interest rate swap, designated as cash flow hedge, effects of derivative in balance sheet

The effects of the derivative instrument on the Consolidated Financial Statements at September 30, 2016 and December 31, 2015 and for the three and nine months ended September 30, 2016 and 2015 were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of September 30, 2016

 

 

Notional

 

 

 

 

 

 

 

 

 

Contract

 

 

 

Balance Sheet

 

Expiration

(In thousands)

 

Amount

 

Fair Value

 

Location

 

Date

Derivatives designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

Interest rate swaps:

 

 

 

 

 

 

 

 

 

 

Effective June 24, 2016

 

$

15,000

 

$

(1,030)

 

Other liabilities

 

June 24, 2021

Total:

 

$

15,000

 

$

(1,030)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2015

 

 

Notional

 

 

 

 

 

 

 

 

 

Contract

 

 

 

Balance Sheet

 

Expiration

(In thousands)

 

Amount

 

Fair Value

 

Location

 

Date

Derivatives designated as hedging instruments

 

 

 

 

 

 

 

 

 

 

Interest rate swaps:

 

 

 

 

 

 

 

 

 

 

Effective June 24, 2016

 

$

15,000

 

$

(555)

 

Other liabilities

 

June 24, 2021

Total:

 

$

15,000

 

$

(555)

 

 

 

 

 

Interest rate swap, designated as cash flow hedge, effects of derivative in OCI

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended September 30, 2016

 

 

Amount of Gain

 

Location of Loss

 

Amount of Loss

 

 

Recognized

 

Recognized

 

Recognized

 

 

in OCI

 

in Income

 

in Income

 

 

on Derivatives

 

on Derivatives

 

on Derivatives

(In thousands)

 

(Effective Portion)

 

(Ineffective Portion)

 

(Ineffective Portion)

Derivatives designated as hedging instruments

 

 

 

 

 

 

 

 

 

Interest rate swaps:

 

 

 

 

 

 

 

 

 

Effective June 24, 2016

 

$

131

 

Not Applicable

 

$

 —

Total:

 

$

131

 

 

 

 

$

 —

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the nine months ended September 30, 2016

 

 

Amount of Loss

 

Location of Loss

 

Amount of Loss

 

 

Recognized

 

Recognized

 

Recognized

 

 

in OCI

 

in Income

 

in Income

 

 

on Derivatives

 

on Derivatives

 

on Derivatives

(In thousands)

 

(Effective Portion)

 

(Ineffective Portion)

 

(Ineffective Portion)

Derivatives designated as hedging instruments

 

 

 

 

 

 

 

 

 

Interest rate swaps:

 

 

 

 

 

 

 

 

 

Effective June 24, 2016

 

$

(314)

 

Not Applicable

 

$

 —

Total:

 

$

(314)

 

 

 

 

$

 —

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the year ended December 31, 2015

 

 

Amount of Loss

 

Location of Loss

 

Amount of Loss

 

 

Recognized

 

Recognized

 

Recognized

 

 

in OCI

 

in Income

 

in Income

 

 

on Derivatives

 

on Derivatives

 

on Derivatives

(In thousands)

 

(Effective Portion)

 

(Ineffective Portion)

 

(Ineffective Portion)

Derivatives designated as hedging instruments

 

 

 

 

 

 

 

 

 

Interest rate swaps:

 

 

 

 

 

 

 

 

 

Effective June 24, 2016

 

$

(366)

 

Not Applicable

 

$

 —

Total:

 

$

(366)

 

 

 

 

$

 —

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended September 30, 2015

 

 

Amount of Loss

 

Location of Loss

 

Amount of Loss

 

 

Recognized

 

Recognized

 

Recognized

 

 

in OCI

 

in Income

 

in Income

 

 

on Derivatives

 

on Derivatives

 

on Derivatives

(In thousands)

 

(Effective Portion)

 

(Ineffective Portion)

 

(Ineffective Portion)

Derivatives designated as hedging instruments

 

 

 

 

 

 

 

 

 

Interest rate swaps:

 

 

 

 

 

 

 

 

 

Effective June 24, 2016

 

$

(282)

 

Not Applicable

 

 

$

Total:

 

$

(282)

 

 

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the nine months ended September 30, 2015

 

 

Amount of Loss

 

Location of Loss

 

Amount of Loss

 

 

Recognized

 

Recognized

 

Recognized

 

 

in OCI

 

in Income

 

in Income

 

 

on Derivatives

 

on Derivatives

 

on Derivatives

(In thousands)

 

(Effective Portion)

 

(Ineffective Portion)

 

(Ineffective Portion)

Derivatives designated as hedging instruments

 

 

 

 

 

 

 

 

 

Interest rate swaps:

 

 

 

 

 

 

 

 

 

Effective June 24, 2016

 

$

(467)

 

Not Applicable

 

 

$

Total:

 

$

(467)

 

 

 

 

$