19) Derivative Instruments

12 Months Ended

Dec. 31, 2019

Notes

19) Derivative Instruments

19)Derivative Instruments 

The following table shows the fair value and notional amounts of derivative instruments as of December 31, 2019 and 2018.

	Fair Values and Notional Amounts of Derivative Instruments
		December 31, 2019			December 31, 2018
	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	$224,202,514	$2,722,580	$231,347	$  93,758,218	$1,969,967	$378,151
Call options	Other liabilities	1,813,500	--	62,265	805,500	--	4,629
Put options	Other liabilities	1,573,100	--	22,282	4,861,700	--	296,053
Total		$225,326,654	$2,722,580	$315,894	$  99,425,418	$1,969,967	$678,833

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	2019	2018
Loan commitments	Mortgage fee income	$           899,417	$           (404,773)
Call and put options	Gains on investments and other assets	$           626,208	$             187,786