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Financial Instruments with Off-Balance Sheet Risk and Derivative Transactions (Tables) | 9 Months Ended
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Sep. 30, 2017
Financial Instruments with Off-Balance Sheet Risk and Derivative Transactions |
Summary information about the interest rate swap designated as a cash flow hedge | Summary information about the interest rate swap designated as a cash flow hedge is as follows:
|  | As of
|  | September 30, 2017 |  | December 31, 2016
Notional amount |  | $ | 25,774 |  |  | $ | 25,774 |
Unrealized loss |  |  | (1,439) |  |  |  | (994) |
Schedule of derivatives not designated as hedging instruments | The following table presents derivatives not designated as hedging instruments as of September 30, 2017, and periodic changes in the values of the interest rate swaps are reported in other noninterest income. Periodic changes in the value of the forward contracts related to mortgage loan origination are reported in the net gain on sales of mortgage loans.
|  |  |  |  | Asset Derivatives |  | Liability Derivatives
|  | Notional or |  |  |  |  |  |  |  |
|  | Contractual |  | Balance Sheet |  |  |  |  | Balance Sheet |  |  |
|  | Amount |  | Location |  | Fair Value |  | Location |  | Fair Value
Interest rate swap contracts net of credit valuation |  | $ | 349,367 |  | Other Assets |  | $ | 128 |  | Other Liabilities |  | $ | 128
Interest rate lock commitments and forward contracts |  |  | 28,591 |  | Other Assets |  |  | 289 |  | N/A |  |  | -
Total |  |  |  |  |  |  | $ | 417 |  |  |  | $ | 128
The following table presents derivatives not designated as hedging instruments as of December 31, 2016.
|  |  |  |  | Asset Derivatives |  | Liability Derivatives
|  | Notional or |  |  |  |  |  |  |  |
|  | Contractual |  | Balance Sheet |  |  |  |  | Balance Sheet |  |  |
|  | Amount |  | Location |  | Fair Value |  | Location |  | Fair Value
Interest rate swap contracts net of credit valuation |  | $ | 85,807 |  | Other Assets |  | $ | 673 |  | Other Liabilities |  | $ | 673
Interest rate lock commitments and forward contracts |  |  | 31,980 |  | Other Assets |  |  | 287 |  | N/A |  |  | -
Total |  |  |  |  |  |  | $ | 960 |  |  |  | $ | 673
Schedule of financial instrument commitments |
|  | September 30, 2017 |  | December 31, 2016 |
|  | Fixed |  | Variable |  | Total |  | Fixed |  | Variable |  | Total |
Letters of credit: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrower: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial standby |  | $ | 177 |  | $ | 3,748 |  | $ | 3,925 |  | $ | 137 |  | $ | 4,047 |  | $ | 4,184 |
Commercial standby |  |  | - |  |  | 122 |  |  | 122 |  |  | - |  |  | 126 |  |  | 126 |
Performance standby |  |  | 66 |  |  | 7,912 |  |  | 7,978 |  |  | 83 |  |  | 8,498 |  |  | 8,581 |
|  |  | 243 |  |  | 11,782 |  |  | 12,025 |  |  | 220 |  |  | 12,671 |  |  | 12,891 |
Non-borrower: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performance standby |  |  | - |  |  | 422 |  |  | 422 |  |  | 95 |  |  | 525 |  |  | 620 |
Total letters of credit |  | $ | 243 |  | $ | 12,204 |  | $ | 12,447 |  | $ | 315 |  | $ | 13,196 |  | $ | 13,511 |

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- Definition Tabular disclosure of interest rate derivatives, including, but not limited to, the fair value of the derivatives, statement of financial position location, and statement of financial performance location of these instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5624171-113959 + Details
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