Note 19 - Derivative Financial Instruments and Hedging Activities

3 Months Ended

Mar. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities Disclosure [Text Block]

19.     Derivative FinancialInstruments and Hedging Activities

At March 31, 2015 and December 31, 2014, the Company’s only derivative instruments related to residential mortgage-banking activities.

At March 31, 2015, the notional amount of commitments to originate conforming mortgage loans held for sale totaled $7.6 million. These derivative loan commitments had positive fair values, included in Other assets in the Consolidated Balance Sheets, totaling $259 thousand. At December 31, 2014, the notional amount of commitments to originate conforming mortgage loans held for sale totaled $2.4 million. These derivative loan commitments had positive fair values, included in Other assets in the Consolidated Balance Sheets, totaling $85 thousand. The net change in derivative loan commitment fair values during the three months ended March 31, 2015 and 2014 resulted in income of $174 thousand and $1 thousand, respectively.

The notional amount of forward sales commitments totaled $8.1 million at March 31, 2015. These forward sales commitments had positive fair values, included in Other assets in the Consolidated Balance Sheets, totaling $1 thousand and negative fair values, included in Other liabilities in the Consolidated Balance Sheets, totaling $44 thousand. The notional amount of forward sales commitments totaled $2.3 million at December 31, 2014. These forward sales commitments had negative fair values, included in Other liabilities in the Consolidated Balance Sheets, totaling $18 thousand. The net change in forward sales commitment fair values during the three months ended March 31, 2015 and 2014 resulted in expense of $25 thousand and $19 thousand, respectively.