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Derivative Instruments | 12 Months Ended
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Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Instruments | 19) Derivative Instruments The Company reports derivative instruments pursuant to the accounting policy discussed in Note 1 of the Notes to Consolidated Financial Statements. The following table shows the fair value and notional amounts of derivative instruments. Schedule of Derivative Assets at Fair Value
|  |  |  | December 31, 2023 |  |  | December 31, 2022 |
|  | 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 |  | $ | 161,832,250 |  |  | $ | 4,995,486 |  |  | $ | 3,412,224 |  |  | $ | 453,371,808 |  |  | $ | 4,089,856 |  |  | $ | 1,382,979 |
Call options |  | Other liabilities |  |  | - |  |  |  | — |  |  |  | - |  |  |  | 868,600 |  |  |  | — |  |  |  | 29,715 |
Put options |  | Other liabilities |  |  | - |  |  |  | — |  |  |  | - |  |  |  | 654,500 |  |  |  | — |  |  |  | 13,888 |
Total |  |  |  | $ | 161,832,250 |  |  | $ | 4,995,486 |  |  | $ | 3,412,224 |  |  | $ | 454,894,908 |  |  | $ | 4,089,856 |  |  | $ | 1,426,582 |
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 |  | 2023 |  |  | 2022 |
Loan commitments |  | Mortgage fee income |  | $ | (1,123,615 | ) |  | $ | (4,308,638 | )
Call and put options |  | Gains on investments and other assets |  | $ | 49,963 |  |  | $ | 202,886 |
SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES Notes to Consolidated Financial Statements Years Ended December 31, 2023 and 2022

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- 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://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480237/815-40-50-5 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480434/815-10-50-5C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 815 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//815/tableOfContent + Details
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