10) Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 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 March 31, 2020 and December 31, 2019.

	Fair Values and Notional Values of Derivative Instruments
		March 31, 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	$631,137,439	$9,465,448	$ 3,699,183	$224,202,514	$2,722,580	$231,347
Call options	Other liabilities	611,100	-	8,972	1,813,500	-	62,265
Put options	Other liabilities	5,481,300	-	944,992	1,573,100	-	22,282
Total		$637,229,839	$9,465,448	$ 4,653,147	$227,589,114	$2,722,580	$315,894

Schedule of Gains and Losses on Derivatives

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

		Net Amount Gain (Loss)
		Three Months Ended March 31
Derivative	Classification	2020	2019
Loan commitments	Mortgage fee income	$        3,275,032	$             932,527
Call and put options	Gains on investments and other assets	$         (737,860)	$             290,028