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Derivative Instruments

12 Months Ended

Dec. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments

19) Derivative Instruments

The following table shows the fair value and notional amounts of derivative instruments.

Schedule of Derivative Assets at Fair Value 

				December 31, 2021												December 31, 2020
		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		$	862,568,967			$	8,563,410			$	1,547,895			$	659,245,038			$	12,592,672			$	2,464,062
Call options		Other liabilities			982,500				—				50,936				1,873,200				—				43,097
Put options		Other liabilities			362,900				—				4,493				—				—				—
Total				$	863,914,367			$	8,563,410			$	1,603,324			$	661,118,238			$	12,592,672			$	2,507,159

The following table presents the gains (losses) on derivatives. 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.

Schedule of Gains and Losses on Derivatives 

				Years ended December 31
Derivative		Classification		2021				2020
Loan commitments		Mortgage fee income		$	(3,113,095	)		$	7,637,377
Call and put options		Gains on investments and other assets		$	160,410			$	272,758

SECURITY NATIONAL FINANCIAL CORPORATION

AND SUBSIDIARIES

Notes to Consolidated Financial Statements

Years Ended December 31, 2021 and 2020

X

- References

No definition available.

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X

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-URI http://asc.fasb.org/topic&trid=2229140

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 50
-Paragraph 5
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123477628&loc=d3e90205-114008

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