Note 20 - Derivative Financial Instruments and Hedging Activities

6 Months Ended

Jun. 30, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities Disclosure [Text Block]

20.     Derivative Financial Instruments and Hedging Activities

At June 30, 2015 and December 31, 2014, the Company’s only derivative instruments related to residential mortgage-banking activities.

At June 30, 2015, the notional amount of commitments to originate conforming mortgage loans held for sale totaled $10.6 million. These derivative loan commitments had positive fair values, included in Other assets in the Consolidated Balance Sheets, totaling $219 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 June 30, 2015 and 2014 resulted in income (expense) of $(40) thousand and $57 thousand, respectively. The net change in derivative loan commitment fair values during the six months ended June 30, 2015 and 2014 resulted in income of $134 thousand and $58 thousand, respectively.

The notional amount of forward sales commitments totaled $11.1 million at June 30, 2015. These forward sales commitments had positive fair values, included in Other assets in the Consolidated Balance Sheets, totaling $59 thousand and negative fair values, included in Other liabilities in the Consolidated Balance Sheets, totaling $2 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 June 30, 2015 and 2014 resulted in income (expense) of $100 thousand and $(46) thousand, respectively. The net change in forward sales commitment fair values during the six months ended June 30, 2015 and 2014 resulted in income (expense) of $75 thousand and $(65) thousand, respectively.