XML 29 R19.htm IDEA: XBRL DOCUMENT
v3.19.1

Note 12 - Derivatives | 3 Months Ended
--- | ---
Mar. 31, 2019
Notes to Financial Statements |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 1 2 : Derivatives Patriot is a party to interest rate derivatives that are not designated as hedging instruments. Under a program, Patriot will execute interest rate swaps with commercial lending customers to facilitate their respective risk management strategies. These interest rate swaps with customers are simultaneously offset by interest rate swaps that Patriot executes with a third party, such that Patriot minimizes its net risk exposure resulting from such transactions. Because the interest rate swaps associated with this program do not meet the strict hedge accounting requirements, changes in the fair value of both the customer swaps and the offsetting swaps are recognized directly in earnings. The changes in the fair value of the swaps offset each other, except for the credit risk of the counterparties, which is determined by taking into consideration the risk rating, probability of default and loss given default for all counterparties. Patriot entered the two initial interest rate swaps under the program in November 2018. As of March 31, 2019 and December 31, 2018, Patriot had $450,000 and $300,000, respectively, in cash pledged for collateral on its interest rate swaps. The following table presents summary information regarding these derivatives for the periods presented (dollars in thousands):
(In thousands) |  | Notional Amount |  |  | Maturity (Years) |  |  | Fixed Rate |  |  | Variable Rate |  | Fair Value |
March 31, 2019: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Classified in Other Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer interest rate swap |  | $ | 5,000 |  |  |  | 10.5 |  |  |  | 5.25 | % |  | 1 Mo. LIBOR + 1.96% |  | $ | 417 |
Classified in Other Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
3rd party interest rate swap |  | $ | 5,000 |  |  |  | 10.5 |  |  |  | 5.25 | % |  | 1 Mo. LIBOR + 1.96% |  | $ | (417 | )
December 31, 2018: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Classified in Other Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer interest rate swap |  | $ | 5,000 |  |  |  | 10.5 |  |  |  | 5.25 | % |  | 1 Mo. LIBOR + 1.96% |  | $ | 286 |
Classified in Other Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
3rd party interest rate swap |  | $ | 5,000 |  |  |  | 10.5 |  |  |  | 5.25 | % |  | 1 Mo. LIBOR + 1.96% |  | $ | (286 | )

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 + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration