LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)

12 Months Ended

Dec. 31, 2016

Receivables [Abstract]

Schedule of major classifications of loans

Major classifications of loans (net of deferred loan fees of $136,446 at December 31, 2016, and $118,188 at December 31, 2015) are as follows:

	December 31
	2016			2015
Commercial loans	$	52,262,209		$	50,938,265
Commercial real estate:
Construction		1,208,901			1,005,118
Other		122,968,126			115,736,034
Consumer:
Real estate		77,131,816			69,777,307
Other		7,005,063			5,165,981
		260,576,115			242,622,705
Allowance for loan losses		(3,851,617	)		(3,417,827	)
Loans, net	$	256,724,498		$	239,204,878

Schedule of credit risks by category and internally assigned grades

The following table illustrates credit risks by category and internally assigned grades at December 31, 2016 and December 31, 2015. “Pass” includes loans internally graded as excellent, good and satisfactory.

December 31, 2016
	Commercial		Commercial Real Estate Construction		Commercial Real Estate Other		Consumer Real Estate		Consumer Other		Total
Pass	$	48,289,944	$	798,884	$	116,490,396	$	74,115,426	$	6,728,367	$	246,423,017
Watch		1,004,957		410,017		2,625,079		899,306		147,992		5,087,351
OAEM		1,666,048		—		995,549		630,957		28,939		3,321,493
Sub-Standard		1,301,260		—		2,857,102		1,486,127		99,765		5,744,254
Doubtful		—		—		—		—		—		—
Loss		—		—		—		—		—		—
Total	$	52,262,209	$	1,208,901	$	122,968,126	$	77,131,816	$	7,005,063	$	260,576,115

December 31, 2015
	Commercial		Commercial Real Estate Construction		Commercial Real Estate Other		Consumer Real Estate		Consumer Other		Total
Pass	$	46,865,088	$	572,101	$	110,040,948	$	65,941,806	$	4,857,576	$	228,277,519
Watch		1,096,200		433,017		940,073		2,490,339		175,489		5,135,118
OAEM		1,337,002		—		1,203,518		99,743		26,961		2,667,224
Sub-Standard		1,639,975		—		3,551,495		1,245,419		105,955		6,542,844
Doubtful		—		—		—		—		—		—
Loss		—		—		—		—		—		—
Total	$	50,938,265	$	1,005,118	$	115,736,034	$	69,777,307	$	5,165,981	$	242,622,705

Schedule of aging analysis of the recorded investment of past-due financing receivable by class

The following tables include an aging analysis of the recorded investment of past-due financing receivable by class:

	December 31, 2016
	30-59 Days Past Due		60-89 Days Past Due		Greater Than 90 Days		Total Past Due		Current		Total Loans Receivable		Recorded Investment > 90 Days and Accruing
Commercial	$	438,159	$	—	$	—	$	438,159	$	51,824,050	$	52,262,209	$	—
Commercial Real Estate:
Commercial Real Estate -Construction		—		—		—		—		1,208,901		1,208,901		—
Commercial Real Estate -Other		6,363		—		1,501,153		1,507,516		121,460,610		122,968,126		89,908
Consumer:
Consumer Real Estate		415,457		—		—		415,457		76,716,359		77,131,816		—
Consumer-Other		56,784		—		33,322		90,106		6,914,957		7,005,063		33,322
Total	$	916,763	$	—	$	1,534,475	$	2,451,238	$	258,124,877	$	260,576,115	$	123,230

	December 31, 2015
	30-59 Days Past Due		60-89 Days Past Due		Greater Than 90 Days		Total Past Due		Current		Total Loans Receivable		Recorded Investment > 90 Days and Accruing
Commercial	$	1,162,676	$	250,370	$	4,317	$	1,417,363	$	49,520,902	$	50,938,265	$	—
Commercial Real Estate:
Commercial Real Estate -Construction		—		—		—		—		1,005,118		1,005,118		—
Commercial Real Estate -Other		91,607		1,215,473		1,152,774		2,459,854		113,276,180		115,736,034		—
Consumer:
Consumer Real Estate		68,240		249,754		82,015		400,009		69,377,298		69,777,307		—
Consumer-Other		69,333		58,116		6,056		133,505		5,032,476		5,165,981		1,606
Total	$	1,391,856	$	1,773,713	$	1,245,162	$	4,410,731	$	238,211,974	$	242,622,705	$	1,606

Schedule of non-accrual loans

The following table summarizes the balances of non-accrual loans:

	Loans Receivable on Non-Accrual
	December 31, 2016		December 31, 2015
Commercial	$	61,781	$	4,317
Commercial Real Estate:
Commercial Real Estate - Construction		—		—
Commercial Real Estate - Other		1,678,876		1,970,306
Consumer:
Consumer - Real Estate		—		82,015
Consumer - Other		964		4,450
Total	$	1,741,621	$	2,061,088

Schedule of changes in the allowance and an allocation of the allowance by loan category

The following tables set forth the changes in the allowance and an allocation of the allowance by loan category at December 31, 2016, December 31, 2015 and December 31, 2014. The allowance consists of specific and general components. The specific component relates to loans that are individually classified as impaired. The general component covers non-impaired loans and is based on historical loss experience adjusted for current economic factors.

December 31, 2016
	Commercial			Commercial Real Estate-Construction			Commercial  Real Estate-Other			Consumer  Real Estate			Consumer  Other			Total
Allowance for Loan Losses
Beginning Balance	$	896,854		$	59,861		$	1,345,094		$	941,470		$	174,548		$	3,417,827
Charge-offs		(33,046	)		—			(78,300	)		(82,015	)		(14,934	)		(208,295	)
Recoveries		—			—			65,000			—			7,085			72,085
Provisions		681,380			(8,392	)		42,912			(133,064	)		(12,836	)		570,000
Ending Balance	$	1,545,188		$	51,469		$	1,374,706		$	726,391		$	153,863		$	3,851,617

December 31, 2015
	Commercial			Commercial Real Estate-Construction		Commercial  Real Estate-Other			Consumer  Real Estate			Consumer  Other			Total
Allowance for Loan Losses
Beginning Balance	$	1,211,130		$	42,904	$	1,112,387		$	863,351		$	105,076		$	3,334,848
Charge-offs		(99,737	)		—		(55,252	)		(6,075	)		(40,007	)		(201,071	)
Recoveries		9,164			—		53,753			6,075			22,558			91,550
Provisions		(223,703	)		16,957		234,206			78,119			86,921			192,500
Ending Balance	$	896,854		$	59,861	$	1,345,094		$	941,470		$	174,548		$	3,417,827

December 31, 2014
	Commercial			Commercial Real Estate-Construction		Commercial  Real Estate-Other			Consumer  Real Estate		Consumer  Other			Total
Allowance for Loan Losses
Beginning Balance	$	1,448,804		$	22,137	$	1,064,363		$	672,813	$	84,160		$	3,292,277
Charge-offs		(83,042	)		—		(15,834	)		—		(14,154	)		(113,030	)
Recoveries		—			—		46,000			—		27,101			73,101
Provisions		(154,632	)		20,767		17,858			190,538		7,969			82,500
Ending Balance	$	1,211,130		$	42,904	$	1,112,387		$	863,351	$	105,076		$	3,334,848

The following tables present, by portfolio segment and reserving methodology, the allocation of the allowance for loan losses and the gross investment in loans.

December 31, 2016
	Commercial		Commercial Real Estate- Construction		Commercial  Real Estate-Other		Consumer Real Estate		Consumer  Other		Total
Allowance for Loan Losses
Individually evaluated for impairment	$	1,051,219	$	—	$	324,587	$	43,119	$	89,047	$	1,507,972
Collectively evaluated for impairment		493,969		51,469		1,050,119		683,272		64,816		2,343,645
Total Allowance for Losses	$	1,545,188	$	51,469	$	1,374,706	$	726,391	$	153,863	$	3,851,617
Loans Receivable
Individually evaluated for impairment	$	1,301,259	$	—	$	3,225,351	$	1,286,127	$	89,047	$	5,901,784
Collectively evaluated for impairment		50,960,950		1,208,901		119,742,775		75,845,689		6,916,016		254,674,331
Total Loans Receivable	$	52,262,209	$	1,208,901	$	122,968,126	$	77,131,816	$	7,005,063	$	260,576,115

December 31, 2015
	Commercial		Commercial Real Estate- Construction		Commercial  Real Estate-Other		Consumer  Real Estate		Consumer Other		Total
Allowance for Loan Losses
Individually evaluated for impairment	$	387,979	$	—	$	253,105	$	342,320	$	100,103	$	1,083,507
Collectively evaluated for impairment		508,875		59,861		1,091,989		599,150		74,445		2,334,320
Total Allowance for Loan Losses	$	896,854	$	59,861	$	1,345,094	$	941,470	$	174,548	$	3,417,827
Loans Receivable
Individually evaluated for impairment	$	1,639,974	$	—	$	3,551,495	$	1,245,419	$	105,819	$	6,542,707
Collectively evaluated for impairment		49,298,291		1,005,118		112,184,539		68,531,888		5,060,162		236,079,998
	$	50,938,265	$	1,005,118	$	115,736,034	$	69,777,307	$	5,165,981	$	242,622,705

Schedule of loans individually evaluated and considered impaired

As of December 31, 2016 and 2015, loans individually evaluated and considered impaired are presented in the following table:

Impaired and Restructured Loans  As of The Year Ended December 31,
	2016						2015
		Unpaid Principal Balance		Recorded Investment		Related Allowance		Unpaid Principal Balance		Recorded Investment		Related Allowance
With no related allowance recorded:
Commercial	$	250,040	$	250,040	$	—	$	692,831	$	692,831	$	—
Commercial Real Estate- Construction		—		—		—		—		—		—
Commercial Real Estate-Other		2,174,770		2,174,770		—		2,476,018		2,476,018		—
Consumer Real Estate		1,243,008		1,243,008		—		450,402		450,402		—
Consumer Other		—		—		—		5,715		5,715		—
	$	3,667,818	$	3,667,818	$	—	$	3,624,966	$	3,624,966	$	—
With an allowance recorded:
Commercial	$	1,051,219	$	1,051,219	$	1,051,219	$	947,143	$	947,143	$	387,979
Commercial Real Estate- Construction		—		—		—		—		—		—
Commercial Real Estate-Other		1,050,581		1,050,581		324,587		1,075,477		1,075,477		253,105
Consumer Real Estate		43,119		43,119		43,119		795,017		795,017		342,320
Consumer Other		89,047		89,047		89,047		100,104		100,104		100,103
	$	2,233,966	$	2,233,966	$	1,507,972	$	2,917,741	$	2,917,741	$	1,083,507
Total
Commercial	$	1,301,259	$	1,301,259	$	1,051,219	$	1,639,974	$	1,639,974	$	387,979
Commercial Real Estate-Construction		—		—		—		—		—		—
Commercial Real Estate-Other		3,225,351		3,225,351		324,587		3,551,495		3,551,495		253,105
Consumer Real Estate		1,286,127		1,286,127		43,119		1,245,419		1,245,419		342,320
Consumer Other		89,047		89,047		89,047		105,819		105,819		100,103
	$	5,901,784	$	5,901,784	$	1,507,972	$	6,542,707	$	6,542,707	$	1,083,507

The following table presents average impaired loans and interest income recognized on those impaired loans, by class segment, for the periods indicated.

For the Year Ended December 31,
	2016				2015				2014
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
With no related allowance recorded:
Commercial	$	267,747	$	12,282	$	750,350	$	43,853	$	647,135	$	18,129
Commercial Real Estate-Construction		—		—		—		—		—		—
Commercial  Real Estate-Other		2,267,288		81,582		2,500,204		128,352		3,515,431		177,416
Consumer Real Estate		1,242,515		22,111		450,117		17,035		351,550		12,877
Consumer-Other		—		—		56,758		2,557		—		—
	$	3,777,550	$	115,975	$	3,757,429	$	191,797	$	4,514,116	$	208,422
With an allowance recorded:
Commercial	$	1,087,559	$	49,985	$	1,009,765	$	49,166	$	1,222,383	$	56,432
Commercial Real Estate-Construction		—		—		—		—		—		—
Commercial Real Estate-Other		1,047,685		16,138		1,066,896		48,945		790,998		29,218
Consumer Real Estate		43,155		1,514		811,014		32,362		688,922		34,154
Consumer  Other		94,945		5,533		55,439		3,540		41,631		1,923
	$	2,273,344	$	73,170	$	2,943,114	$	134,013	$	2,743,934	$	121,727
Total
Commercial	$	1,355,306	$	62,267	$	1,760,115	$	93,019	$	1,869,518	$	74,561
Commercial Real Estate-Construction		—		—		—		—		—		—
Commercial Real Estate-Other		3,314,973		97,720		3,567,100		177,297		4,306,429		206,634
Consumer Real Estate		1,285,670		23,625		1,261,131		49,397		1,040,472		47,031
Consumer Other		94,945		5,533		112,197		6,097		41,631		1,923
	$	6,050,894	$	189,145	$	6,700,543	$	325,810	$	7,258,050	$	330,149