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19) Derivative Instruments

12 Months Ended

Dec. 31, 2017

The following table shows the fair value of derivatives as of December 31, 2017 and 2016.

	Fair Values and Notional Amounts of Derivative Instruments
		December 31, 2017			December 31, 2016
	Balance Sheet Location	Notional Amount	Asset Fair Value	Liability Fair Value	Notional Amount	Asset Fair Value	Liability Fair Value
Derivatives not designated as hedging instruments:
Loan commitments	Other assets and Other liabilities	$105,679,107	$2,032,782	$ 36,193	$191,757,193	$6,911,544	$102,212
Call options	Other liabilities	1,488,550	--	64,689	2,169,850	--	109,474
Put options	Other liabilities	2,265,900	--	20,568	1,336,750	--	26,494

Derivatives designated as fair value hedging instruments:
Interest rate swaps	Bank and other loans payable	--	--	--	175,762	--	3,308
Total		$109,433,557	$2,032,782	$121,450	$195,439,555	$6,911,544	$241,488

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 into income or gains or losses recognized in income on derivatives ineffective portion or any amounts excluded from effective testing.

		Net Amount Gain (Loss)
		Years ended December 31
Derivative	Classification	2017		2016
Interest Rate Swaps	Other comprehensive income	$ 2,018		$ 6,490

Loan commitments	Mortgage fee income	$ (4,812,743)	(1)	$ (862,163)

Call and put options	Realized gains on investments and other assets	$ 316,244		$ 208,409

(1) Includes the transfer of loan commitments to the value of loans held for sale.