NOTE 4 - DERIVATIVES AND HEDGING ACTIVITIES (Tables)
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6 Months Ended |
Jun. 30, 2020 |
Notes Tables |
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Changes in the fair value of the underlying derivative contracts |
| | | | | | | | | | | | | | | | | | June 30, 2020 | | | December 31, 2019 | | | | Notional Amount | | Estimated Fair Value | | Notional Amount | | Estimated Fair Value | | | | | (dollars in thousands) | Non-Hedging Interest Rate Derivatives Assets: | | | | | | | | | | | | | | Interest rate swap contracts | | | $ | 1,100,913 | | $ | 224,727 | | $ | 787,221 | | $ | 84,679 | Non-Hedging Interest Rate Derivatives Liabilities: | | | | | | | | | | | | | | Interest rate swap contracts | | | $ | 1,100,913 | | $ | 224,727 | | $ | 787,221 | | $ | 84,679 |
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Schedule of hedged interest rate swaps and non-hedged interest rate swaps are collateralized by investment securities with carrying values |
| | | | | | | | | June 30, 2020 | | December 31, 2019 | | | | (dollars in thousands) | | | | | | | | Cash | | $ | 80,250 | | $ | 10,990 | U.S govt. sponsored agency securities | | | 3,657 | | | 3,541 | Municipal securities | | | 41,863 | | | 68,089 | Residential mortgage-backed and related securities | | | 107,190 | | | 27,027 | | | $ | 232,960 | | $ | 109,647 | | | | | | | |
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Interest rate cap |
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Notes Tables |
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Schedule of interest rate caps |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | Balance Sheet | | | | | | | Fair Value as of | | | Hedged Item | | Effective Date | | Maturity Date | | Location | | Notional Amount | | Strike Rate | | June 30, 2020 | | | December 31, 2019 | | | (dollars in thousands) | | | | | | | | | | | | | | | | | | | | | | | | Deposits | | 1/1/2020 | | 1/1/2023 | | Other Assets | | $ | 25,000 | | 1.75 | % | | $ | 13 | | | $ | 112 | | | Deposits | | 1/1/2020 | | 1/1/2023 | | Other Assets | | | 50,000 | | 1.57 | | | | 26 | | | | 218 | | | Deposits | | 1/1/2020 | | 1/1/2023 | | Other Assets | | | 25,000 | | 1.90 | | | | 12 | | | | 96 | | | Deposits | | 1/1/2020 | | 1/1/2023 | | Other Assets | | | 25,000 | | 1.80 | | | | 13 | | | | 109 | | | Deposits | | 1/1/2020 | | 1/1/2024 | | Other Assets | | | 25,000 | | 1.75 | | | | 26 | | | | 214 | | | Deposits | | 1/1/2020 | | 1/1/2024 | | Other Assets | | | 50,000 | | 1.57 | | | | 52 | | | | 401 | | | Deposits | | 2/1/2020 | | 2/1/2024 | | Other Assets | | | 25,000 | | 1.90 | | | | 26 | | | | 202 | | | Deposits | | 1/1/2020 | | 1/1/2024 | | Other Assets | | | 25,000 | | 1.80 | | | | 26 | | | | 201 | | | Deposits | | 1/1/2020 | | 1/1/2025 | | Other Assets | | | 25,000 | | 1.75 | | | | 48 | | | | 337 | | | Deposits | | 1/1/2020 | | 1/1/2025 | | Other Assets | | | 50,000 | | 1.57 | | | | 97 | | | | 617 | | | Deposits | | 3/1/2020 | | 3/1/2025 | | Other Assets | | | 25,000 | | 1.90 | | | | 50 | | | | 332 | | | Deposits | | 1/1/2020 | | 1/1/2025 | | Other Assets | | | 25,000 | | 1.80 | | | | 48 | | | | 309 | | | | | | | | | | | $ | 375,000 | | | | | $ | 437 | | | $ | 3,148 | | | | | | | | | | | | | | | | | | | | | | | | |
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Interest rate swap |
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Notes Tables |
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Schedule of interest rate caps |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Balance Sheet | | | | | | | | | | | | Fair Value as of | Hedged Item | | Effective Date | | Maturity Date | | Location | | Notional Amount | | Receive Rate | | | Pay Rate | | June 30, 2020 | | December 31, 2019 | (dollars in thousands) | CRBT - FHLB Advances or Brokered CDs | | 3/16/2020 | | 3/16/2023 | | Derivatives - Liabilities | | $ | 30,000 | | 0.31 | % | | | 1.12 | % | | $ | (730) | | $ | - | SFCB - FHLB Advances or Brokered CDs | | 3/16/2020 | | 3/16/2023 | | Derivatives - Liabilities | | | 10,000 | | 0.32 | % | | | 0.95 | % | | | (200) | | | - | QCR Holdings Statutory Trust II | | 9/30/2018 | | 9/30/2028 | | Derivatives - Liabilities | | | 10,000 | | 3.16 | % | | | 5.85 | % | | | (2,051) | | | (971) | QCR Holdings Statutory Trust III | | 9/30/2018 | | 9/30/2028 | | Derivatives - Liabilities | | | 8,000 | | 3.16 | % | | | 5.85 | % | | | (1,641) | | | (777) | QCR Holdings Statutory Trust V | | 7/7/2018 | | 7/7/2028 | | Derivatives - Liabilities | | | 10,000 | | 2.77 | % | | | 4.54 | % | | | (1,993) | | | (944) | Community National Statutory Trust II | | 9/20/2018 | | 9/20/2028 | | Derivatives - Liabilities | | | 3,000 | | 2.48 | % | | | 5.17 | % | | | (613) | | | (291) | Community National Statutory Trust III | | 9/15//2018 | | 9/15/2028 | | Derivatives - Liabilities | | | 3,500 | | 2.06 | % | | | 4.75 | % | | | (715) | | | (339) | Guaranty Bankshares Statutory Trust I | | 9/15/2018 | | 9/15/2028 | | Derivatives - Liabilities | | | 4,500 | | 2.06 | % | | | 4.75 | % | | | (919) | | | (436) | | | | | | | | | $ | 79,000 | | 1.92 | % | | | 5.24 | % | | $ | (8,862) | | $ | (3,758) | | | | | | | | | | | | | | | | | | | | | | | |
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