19) Derivative Instruments

12 Months Ended

Dec. 31, 2018

Notes

19) Derivative Instruments

19)       Derivative Instruments

The following table shows the fair value of derivatives as of December 31, 2018 and 2017.

	Fair Values and Notional Amounts of Derivative Instruments
		December 31, 2018			December 31, 2017
	Balance Sheet Location	Notional Amount	Asset Fair Value	Liability Fair Value	Notional Amount	Asset Fair Value	Liability Fair Value
Derivatives not designated as hedging instruments:
Loan commitments	Other assets and Other liabilities	$  93,758,218	$1,969,967	$378,151	$105,679,107	$2,032,782	$  36,193
Call options	Other liabilities	805,500	--	4,629	1,488,550	--	64,689
Put options	Other liabilities	4,861,700	--	296,053	2,265,900	--	20,568
Total		$  99,425,418	$1,969,967	$678,833	$109,433,557	$2,032,782	$121,450

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 into income or gains or losses recognized in income on derivatives ineffective portion or any amounts excluded from effective testing.

		Net Amount Gain (Loss)
		Years ended December 31
Derivative	Classification	2018	2017
Interest Rate Swaps	Other comprehensive income	$                      -	$                 2,018
Loan commitments	Mortgage fee income	$         (404,773)	$        (4,812,743)	(1)
Call and put options	Gains on investments and other assets	$           187,786	$             316,244
(1) Includes the transfer of loan commitments to the value of loans held for sale.