XML 53 R25.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Note 18: Derivative Commitments | 12 Months Ended
--- | ---
Dec. 31, 2014
Notes |
Note 18: Derivative Commitments | 18) Derivative Commitments The Company has adopted a strategy of selling “out of the money” call options on its available for sale equity securities as a source of revenue. The options give the purchaser the right to buy from the Company specified equity securities at a set price up to a pre-determined date in the future. The Company has adopted the selling of put options as a means of generating cash or purchasing equity securities at lower than current market prices. The Company receives an immediate payment of cash for the value of the option and establishes a liability for the market value of the option. The liability for options is adjusted to market value at each reporting date. The market value of outstanding options as of December 31, 2014 and December 31, 2013 was $127,903 and $124,174, respectively. In the event a call option is exercised, the Company recognizes a gain on the sale of the equity security and a gain from the sale of the option. If the option expires unexercised, the Company recognizes a gain from the sale of the option. The following table shows the fair value of derivatives as of December 31, 2014 and December 31, 2013.
| Fair Value of Derivative Instruments
| Asset Derivatives | Liability Derivatives
| December 31, 2014 |  | December 31, 2013 | December 31, 2014 |  | December 31, 2013
| 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 lock and forward sales commitments | other assets |  | $2,111,529 |  | other assets |  | $1,511,111 |  | Other liabilities |  | $181,678 |  | Other liabilities |  | $ 23,203
Call Options |  |  | - |  |  |  | - |  | Other liabilities |  | 116,036 |  | Other liabilities |  | 124,174
Put Options |  |  | - |  |  |  | - |  | Other liabilities |  | 11,867 |  | Other liabilities |  | -
Interest rate swaps |  |  | - |  |  |  | - |  | Bank loans payable |  | 31,370 |  | Bank loans payable |  | 58,310
Total |  |  | $2,111,529 |  |  |  | $1,511,111 |  |  |  | $340,951 |  |  |  | $205,687
The following table shows the gain (loss) on derivatives for the periods presented. There were no gains or losses reclassified from accumulated other comprehensive income (OCI) into income or gains or losses recognized in income on derivatives ineffective portion or any amounts excluded from effective testing.
|  | Net Amount Gain (Loss) Recognized in OCI
|  | Years ended December 31
Derivative - Cash Flow Hedging Relationships: |  | 2014 |  | 2013
Interest Rate Lock Commitments |  | $ 441,943 |  | $ (1,473,557)
Interest Rate Swaps |  | 26,940 |  | 35,262
Sub Total |  | 468,883 |  | (1,438,295)
Tax Effect |  | 182,865 |  | (417,541)
Total |  | $ 286,018 |  | $ (1,020,754)

X
- Definition The entire disclosure for derivatives and fair value of assets and liabilities. + References No definition available. + Details
Name: | us-gaap_DerivativesAndFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration