Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments (Tables)

v2.4.0.8
Derivative Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 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 September 30, 2014 and December 31, 2013 (in thousands):
 
 
 
 
 
 
 
 
 
 
Fair Value
Effective Date
 
Maturity Date
 
Notional Amount
 
Bank Pay Rate
 
Company Fixed Pay Rate
 
September 30, 2014
 
December 31, 2013
Assets:
 
 
 
 
 
 
 
 
 
 
 
 
November 14, 2013
 
August 14, 2018
 
$
50,000

 
1 month LIBOR
 
1.3075
%
 
$
321

 
$
455

November 14, 2013
 
August 14, 2018
 
50,000

 
1 month LIBOR
 
1.2970
%
 
343

 
440

November 14, 2013
 
August 14, 2018
 
50,000

 
1 month LIBOR
 
1.3025
%
 
332

 
487

Total
 
 
 
$
150,000

 
 
 
 
 
$
996

 
$
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 and nine months ended September 30, 2014 and 2013, respectively (in thousands):
 
 
Location of Reclassification from Accumulated OCI Into Income
 
 
 
 
 
 
 
 
 
 
 
 
 
Three months ended September 30,
 
Nine months ended September 30,
 
 
 
2014
 
2013
 
2014
 
2013
Interest Rate Swaps (Effective Portion):
 
 
 

 

 

 

Amount of gain (loss) recognized in OCI on derivative
 
 
 
$
952

 
$
—

 
$
(386
)
 
$
—

 
 
 
 
 
 
 
 
 
 
 
Treasury Rate Lock (Effective Portion):
 
 
 

 

 


 


Amount of gain reclassified from accumulated OCI into income
 
Interest Expense
 
$
99

 
$
94

 
$
293

 
$
276