Accumulated Other Comprehensive (Loss) Income

3 Months Ended

Mar. 31, 2017

Equity [Abstract]

Accumulated Other Comprehensive (Loss) Income

Note 6: Accumulated Other Comprehensive (Loss) Income

The following table summarizes the components of accumulated other comprehensive income and changes in those components as of and for the three months ended March 31, 2017 and 2016:

Available for sale securities
Beginning Balance December 31, 2016	$	(607,109	)
Change in net unrealized gains on securities available for sale		585,821
Reclassification adjustment for net securities gains included in net income		—
Income tax benefit		(216,753	)
Ending Balance at March 31, 2017	$	(238,041	)
Beginning Balance December 31, 2015	$	992,549
Change in net unrealized gains on securities available for sale		709,731
Reclassification adjustment for net securities gains included in net income		(187,396	)
Income tax expense		69,499
Ending Balance at March 31, 2016	$	1,583,843

The following table shows the line items in the consolidated Statements of Income affected by amounts reclassified from accumulated other comprehensive income:

	Three Months Ended March 31,
	2017		2016
Gain on sale of investments, net	$	—	$	187,936
Tax effect		—		—
Total reclassification, net of tax	$	—	$	187,936