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Derivative Instruments | 9 Months Ended
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Sep. 30, 2018
Derivative instruments and hedging activities disclosure abstract |
Derivative Instruments And Hedging Activities Disclosure Text Block | NOTE 6: DERIVATIVE INSTRUMENTS Financial derivatives are reported at fair value in other assets or other liabilities on the accompanying consolidated balance sheets. The accounting for changes in the fair value of a derivative depends on whether it has been designated and qualifies as part of a hedging relationship. For derivatives not designated as part of a hedging relationship, the gain or loss is recognized in current earnings within other noninterest income on the accompanying consolidated stat ements of earnings. From time to time, the Company may enter into interest rate swaps (“swaps”) to facilitate customer transactions and meet their financing needs. Upon entering into these swaps, the Company enters into offsetting positions in order to min imize the risk to the Company. These swaps qualify as derivatives, but are not designated as hedging instruments. Interest rate swap agreements involve the risk of dealing with counterparties and their ability to meet contractual terms. When the fair va lue of a derivative instrument is positive, this generally indicates that the counterparty or customer owes the Company, and results in credit risk to the Company. When the fair value of a derivative instrument is negative, the Company owes the customer or counterparty and therefore, has no credit risk. The Company had no interest rate swap agreements at September 30, 2018. A summary of the Company’s interest rate swap agreements at December 31, 2017 is presented below.
|  |  |  |  | Other |  | Other
|  |  |  |  | Assets |  | Liabilities
|  |  |  |  | Estimated |  | Estimated
(Dollars in thousands) |  | Notional |  | Fair Value |  | Fair Value
December 31, 2017: |  |  |  |  |  |
Pay fixed / receive variable | $ | 3,617 |  | — |  | 52
Pay variable / receive fixed |  | 3,617 |  | 52 |  | —
| Total interest rate swap agreements | $ | 7,234 |  | 52 |  | 52

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- References No definition available. + Details
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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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details
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