19) Derivative Instruments

12 Months Ended

Dec. 31, 2020

Disclosure Text Block [Abstract]

19) Derivative Instruments

19) Derivative Instruments

The following table shows the fair value and notional amounts of derivative instruments as of December 31, 2020 and 2019.

	Fair Values and Notional Amounts of Derivative Instruments
		December 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	$659,245,038	$12,592,672	$2,464,062	$224,202,514	$2,722,580	$231,347
Call options	Other liabilities	1,873,200	--	43,097	1,813,500	--	62,265
Put options	Other liabilities	--	--	--	1,573,100	--	22,282
Total		$661,118,238	$12,592,672	$2,507,159	$227,589,114	$2,722,580	$315,894

The following table shows the gain (loss) on derivatives for the periods presented. 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.

		Net Amount Gain (Loss)
		Years ended December 31
Derivative	Classification	2020	2019
Loan commitments	Mortgage fee income	$        7,637,377	$             899,417
Call and put options	Gains on investments and other assets	$           272,758	$             626,208