Quarterly report pursuant to Section 13 or 15(d)

Derivative Financial Instruments (Tables)

v3.22.2.2
Derivative Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2022
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 (notional amounts and fair values in thousands):
Fair Value
Effective Date Maturity Date Notional Amount Bank Pay Rate Company Fixed Pay Rate September 30, 2022 December 31, 2021
Assets (Liabilities)(1):
Interest rate swaps:
July 1, 2019 February 1, 2024 $ 25,000  1  month LIBOR 1.75  % $ 847  $ (459)
January 1, 2021 February 1, 2024 150,000  1  month LIBOR 0.60  % 7,349  828 
January 1, 2021 February 1, 2024 100,000  1  month LIBOR 0.22  % 5,386  1,331 
March 1, 2021 February 1, 2024 25,000  1  month LIBOR 0.24  % 1,340  326 
Total $ 14,922  $ 2,026 
(1)Asset balances are recorded in prepaids and other assets on the consolidated balance sheets and liabilities are recorded in other liabilities on the consolidated balance sheets.
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 (in thousands):
Three months ended September 30, Nine months ended September 30,
2022 2021 2022 2021
Interest Rate Swaps:
Amount of gain (loss) recognized in other comprehensive income (loss) $ 2,957  $ 108  $ 12,896  $ 2,343