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Derivative Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]
The Company did not use any derivative financial instruments prior to 2013. At December 31, 2013 the notional amount and fair value of IRLCs and forward contracts utilized by the Company were as follows:
 
 
 
December 31, 2013
 
December 31, 2012
 
 
 
Notional
 
Fair
 
Notional
 
Fair
 
 
 
Amount
 
Value
 
Amount
 
Value
 
Asset Derivatives
 
 
 
 
 
 
 
 
 
 
 
 
 
Derivatives not designated as hedging instruments
 
 
 
 
 
 
 
 
 
 
 
 
 
IRLCs
 
$
20,752
 
$
79
 
$
 
$
 
Forward contracts
 
 
30,628
 
 
227
 
 
 
 
 
Schedule Of Derivative Instruments In Statements Of Income Fair Value [Table Text Block]
Fair values of derivative financial instruments were estimated using changes in mortgage interest rates from the date the Company entered into the IRLC and the balance sheet date. Periodic changes in the fair value of the derivative financial instruments on the consolidated statements of income for the twelve months ended December 31, 2013 and 2012 were as follows:
 
 
 
Amount of gain / (loss) recognized in the twelve
 
 
 
months ended
 
 
 
December 31, 2013
 
December 31, 2012
 
Asset Derivatives
 
 
 
 
 
 
 
Derivatives not designated as hedging instruments
 
 
 
 
 
 
 
IRLCs
 
$
79
 
$
 
Forward contracts
 
 
227