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Financial Instruments with Off-Balance Sheet Risk and Derivative Transactions (Tables) | 3 Months Ended
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Mar. 31, 2018
Derivatives, Hedging Activities and Financial Instruments with Off-Balance Sheet Risk |
Schedule of fair value of derivative financial instruments as well as their classification on the Balance Sheet |
|  |  |  |  | Asset Derivatives |  | Liability Derivatives
|  |  |  |  | As of March 31, 2018 |  | As of December 31, 2017 |  | As of March 31, 2018 |  | As of December 31, 2017
| Number of Transactions |  | Notional Amount $ |  | Balance Sheet Location | Fair Value $ |  | Balance Sheet Location | Fair Value $ |  | Balance Sheet Location | Fair Value $ |  | Balance Sheet Location | Fair Value $
Derivatives designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest Rate Products | 1 |  | 25,774 |  | Other Assets | - |  | Other Assets | - |  | Other Liabilities | 7 |  | Other Liabilities | 1,287
Total derivatives designated as hedging instruments |  |  |  |  |  | - |  |  | - |  |  | 7 |  |  | 1,287
Derivatives not designated as hedging instruments |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest Rate Products | 2 |  | 51,548 |  | Other Assets | 7 |  | Other Assets | - |  | Other Liabilities | 7 |  | Other Liabilities | 1,287
Other Contracts | 3 |  | 15,908 |  | Other Assets | - |  | Other Assets | - |  | Other Liabilities | 7 |  | Other Liabilities | 13
Total derivatives not designated as hedging instruments |  |  |  |  |  | 7 |  |  | - |  |  | 14 |  |  | 1,301
Schedule of the effect of fair value and cash flow hedge accounting | The table below presents the effect of cash flow hedge accounting on Accumulated Other Comprehensive Income as of March 31, 2018, and December 31, 2017. The Effect of Fair Value and Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income
Derivatives in Subtopic 815-20 Hedging Relationships |  | Amount of Gain or (Loss) Recognized in OCI on Derivative | Location of Gain or (Loss) Reclassified from Accumulated OCI into Income |  | Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income
|  | Quarter Ended March 31, |  |  | Year Ended December 31, |  |  | Quarter Ended March 31, |  |  | Year Ended December 31,
|  | 2018 |  |  | 2017 |  |  | 2018 |  |  | 2017
Derivatives in Cash Flow Hedging Relationships:
Interest Rate Products | $ | 1,206 |  | $ | (504) | Interest income | $ | (74) |  | $ | (211)
Total | $ | 1,206 |  | $ | (504) |  | $ | (74) |  | $ | (211)
Tabular Disclosure of the Effect of Fair Value and Cash Flow Hedge Accounting on the Income Statement The table below presents the effect of the Company’s derivative financial instruments on the Income Statement as of March 31, 2018, and December 31, 2017.
Location and Amount of Gain or (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships
|  |  | Quarter Ended March 31, 2018 |  |  | Year Ended December 31, 2017
|  |  | Interest Income (Expense) |  |  | Other Income (Expense) |  |  | Interest Income (Expense) |  |  | Other Income (Expense)
Total amounts of income and expense line items presented in the |  |  |  |  |  |  |  |  |  |  |  |
statement of financial performance in which the effects of fair value or |  |  |  |  |  |  |  |  |  |  |  |
cash flow hedges are recorded |  | $ | (74) |  | $ | - |  | $ | (211) |  | $ | -
The effects of fair value and cash flow hedging: |  |  |  |  |  |  |  |  |  |  |  |
Gain or (loss) on cash flow hedging relationships in Subtopic 815-20 |  |  |  |  |  |  |  |  |  |  |  |
Interest contracts |  |  |  |  |  |  |  |  |  |  |  |
Amount of gain or (loss) reclassified from accumulated other |  |  | (74) |  |  | - |  |  | (211) |  |  | -
comprehensive income into income |  |  |  |  |  |  |  |  |  |  |  |
Schedule of effect of derivatives not designated as hedging instruments on the Income Statement |
Derivatives Not Designated as Hedging Instruments under Subtopic 815-20 |  |  |  |  |  |  |
| Location of Gain or (Loss) Recognized in Income on Derivative |  |  | Amount of Gain or (Loss) Recognized in Income on Derivative
|  |  |  | Quarter Ended March 31, |  |  | Year Ended December 31,
|  |  |  | 2018 |  |  | 2017
Interest Rate Products | Other income / (expense) |  | $ | - |  | $ | -
Other Contracts | Other income / (expense) |  |  | 6 |  |  | 161
Total |  |  | $ | 6 |  | $ | 161
Fee Income | Other income / (expense) |  | $ | - |  | $ | -
Schedule of financial instrument commitments |
|  | March 31, 2018 |  | December 31, 2017 |
|  | Fixed |  | Variable |  | Total |  | Fixed |  | Variable |  | Total |
Letters of credit: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Borrower: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Financial standby |  | $ | 292 |  | $ | 4,152 |  | $ | 4,444 |  | $ | 177 |  | $ | 3,770 |  | $ | 3,947 |
Commercial standby |  |  | - |  |  | 354 |  |  | 354 |  |  | - |  |  | 354 |  |  | 354 |
Performance standby |  |  | 241 |  |  | 7,092 |  |  | 7,333 |  |  | 241 |  |  | 7,594 |  |  | 7,835 |
|  |  | 533 |  |  | 11,598 |  |  | 12,131 |  |  | 418 |  |  | 11,718 |  |  | 12,136 |
Non-borrower: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performance standby |  |  | - |  |  | 142 |  |  | 142 |  |  | - |  |  | 142 |  |  | 142 |
Total letters of credit |  | $ | 533 |  | $ | 11,740 |  | $ | 12,273 |  | $ | 418 |  | $ | 11,860 |  | $ | 12,278 |

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging 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 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=84234895&loc=SL5618551-113959 + Details
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