Derivative Instruments

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

19) Derivative Instruments

The following table shows the fair value and notional amounts of derivative instruments.

		December 31, 2022						December 31, 2021
	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	$	453,371,808	$	4,089,856	$	1,382,979	$	862,568,967	$	8,563,410	$	1,547,895
Call options	Other liabilities		868,600		—		29,715		982,500		—		50,936
Put options	Other liabilities		654,500		—		13,888		362,900		—		4,493
Total		$	454,894,908	$	4,089,856	$	1,426,582	$	863,914,367	$	8,563,410	$	1,603,324

The following table presents the gains (losses) on derivatives. 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.

		Years ended December 31
Derivative	Classification	2022			2021
Loan commitments	Mortgage fee income	$	(4,308,638	)	$	(3,113,095	)
Call and put options	Gains on investments and other assets	$	202,886		$	160,410

SECURITY NATIONAL FINANCIAL CORPORATION

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

Years Ended December 31, 2022 and 2021