Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments (Tables)

v2.4.0.8
Derivative Financial Instruments (Tables)
3 Months Ended
Mar. 31, 2014
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 our derivative financial instruments, as well as their classifications within the consolidated balance sheets as of March 31, 2014 and December 31, 2013 (in thousands):
 
 
 
 
 
 
 
 
 
 
Fair Value
Effective Date
 
Maturity Date
 
Notional Amount
 
Bank Pay Rate
 
Company Fixed Pay Rate
 
March 31, 2014
 
December 31, 2013
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
November 14, 2013
 
August 14, 2018
 
$
50,000

 
1 month LIBOR
 
1.3075
%
 
$
336

 
$
455

November 14, 2013
 
August 14, 2018
 
50,000

 
1 month LIBOR
 
1.2970
%
 
367

 
440

November 14, 2013
 
August 14, 2018
 
50,000

 
1 month LIBOR
 
1.3025
%
 
359

 
487

Total
 
 
 
$
150,000

 
 
 
 
 
$
1,062

 
$
1,382

Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)
The following table represents the effect of the derivative financial instruments on the accompanying consolidated financial statements for the three months ended March 31, 2014 and 2013, respectively (in thousands):
 
 
 
 
Location of Gain (Loss)
 
Amount of Gain (Loss)
 
 
Amount of Gain (Loss)
 
Reclassification from
 
Reclassified from
 
 
Recognized in OCI on
 
Accumulated OCI into
 
Accumulated OCI into
 
 
Derivative
 
Income
 
Income
 
 
(Effective Portion)
 
(Effective Portion)
 
(Effective Portion)
 
 
March 31,
 
 
 
March 31,
 
 
2014
 
2013
 
 
 
2014
 
2013
Interest Rate Swaps
 
$
(320
)
 
$

 
 
 
$

 
$

Treasury Rate Lock
 

 

 
Interest Expense
 
96

 
90