10) Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 2020

Table Text Block Supplement [Abstract]

Schedule of Derivative Assets at Fair Value

The following table shows the notional amount and fair value of derivatives as of September 30, 2020 and December 31, 2019.

	Fair Values and Notional Values of Derivative Instruments
		September 30, 2020			December 31, 2019
	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	$977,036,503	$17,945,259	$2,999,809	$224,202,514	$2,722,580	$231,347
Call options	Other liabilities	1,957,000	-	126,193	1,813,500	-	62,265
Put options	Other liabilities	-	-	-	1,573,100	-	22,282
Total		$978,993,503	$17,945,259	$3,126,002	$227,589,114	$2,722,580	$315,894

Schedule of Gains and Losses on Derivatives

The following table shows the gains and losseson derivatives for the periods presented.

		Net Amount Gain (Loss)		Net Amount Gain (Loss)
		Three Months Ended September 30		Nine Months Ended September 30
Derivative	Classification	2020	2019	2020	2019
Loan commitments	Mortgage fee income	$       3,901,086	$            378,899	$     12,454,218	$         1,915,223
Call and put options	Gains on investments and other assets	$            34,171	$            104,702	$          124,516	$            509,639