Note 18: Derivative Commitments

12 Months Ended

Dec. 31, 2015

Notes

Note 18: Derivative Commitments

18)    Derivative Commitments

The following table shows the fair value of derivatives as of December 31, 2015 and 2014.

	Fair Value of Derivative Instruments
	Asset Derivatives				Liability Derivatives
	December 31, 2015		December 31, 2014		December 31, 2015		December 31, 2014
	Balance Sheet Location	Fair Value	Balance Sheet Location	Fair Value	Balance Sheet Location	Fair Value	Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments:
Interest rate lock and forward sales commitments	other assets	$3,440,758	other assets	$ 2,111,529	Other liabilities	$107,667	Other liabilities	$181,678
Call Options		-		-	Other liabilities	16,342	Other liabilities	116,036
Put Options		-		-	Other liabilities	28,829	Other liabilities	11,867
Interest rate swaps		-		-	Bank loans payable	13,947	Bank loans payable	31,370
Total		$3,440,758		$ 2,111,529		$166,785		$340,951

The following table shows the gain (loss) on derivatives for the periods presented. There were no gains or losses reclassified from accumulated other comprehensive income (OCI) into income or gains or losses recognized in income on derivatives ineffective portion or any amounts excluded from effective testing.

	Net Amount Gain (Loss) Recognized in OCI
	Years ended December 31
Derivative - Cash Flow Hedging Relationships:	2015	2014
Interest Rate Lock Commitments	$                 1,403,240	$                    441,943
Interest Rate Swaps	17,423	26,940
Sub Total	1,420,663	468,883
Tax Effect	554,058	182,865
Total	$                    866,605	$                    286,018