Financial Instruments with Off-Balance Sheet Risk and Derivative Transactions (Tables)

3 Months Ended

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