Derivatives and Hedging

12 Months Ended

Dec. 31, 2015

Derivative [Line Items]

Derivative Instruments and Hedging Activities Disclosure [Text Block]

DERIVATIVES AND HEDGING ACTIVITIES

The notional amounts and estimated fair values of the Company's interest rate swap contracts are presented in the following table.

	December 31, 2015				December 31, 2014
	Notional Amount		Estimated Fair Value		Notional Amount		Estimated Fair Value
Derivatives designated as hedges:
Interest rate swap	$	100,000	$	165	$	—	$	—
Non-hedging interest rate derivatives:
Interest rate swap-assets	9,369		788		3,200		61
Interest rate swap-liabilities	9,369		829		3,200		59

On September 22, 2015, the Company entered into a forward starting interest rate swap with a notional amount of $100,000 that was designated as a cash flow hedge. Under the terms of the interest rate swap contract, the Company pays a fixed interest rate of 1.94% and the counterparty pays to the Company a variable interest rate equal to the three-month LIBOR. No cash is exchanged until the effective date, which begins on September 15, 2017 and ends on September 15, 2020. The Company designated the interest payments related to future Federal Home Loan Bank or other borrowings as the cash flow hedge. The hedge was fully effective during the current period. As such, no amount of ineffectiveness was included in the Company's income statement in 2015. The fair value of the interest rate swap is included in other liabilities in the Company's balance sheet with changes in fair value recorded in other comprehensive income. The Company expects the hedge to remain highly effective during the remaining term of the interest rate swap.

The following table presents the pre-tax gains or losses related to the interest rate swap derivative contracts recorded in accumulated other comprehensive income and other non-interest income in the Company's statements of income:

As of or For The Year Ended December 31,	2015			2014
Derivatives designated as hedges:
Amount of gain recognized in other comprehensive income (effective portion)	$	165		$	—
Non-hedging interest rate derivatives:
Amount of gain (loss) recognized in other non-interest income	(43		)	2