Note 8 - Disclosures About Fair Value of Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2016

Notes Tables

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

9/30/2016
Financial assets:
	Level 1 inputs		Level 2 inputs		Level 3 inputs		Total fair value
Equity securities	$	94	$	-	$	-	$	94
Debt securities:
Municipals		-		40,238		-		40,238
Corporates		-		5,967		-		5,967
Government sponsored mortgage-backed securities and SBA loan pools		-		50,274		-		50,274
Available-for-sale securities	$	94	$	96,479	$	-	$	96,573

12/31/2015
Financial assets:
	Level 1 inputs		Level 2 inputs		Level 3 inputs		Total fair value
Equity securities	$	99	$	-	$	-	$	99
Debt securities:
U.S. government agencies		-		8,397		-		8,397
Municipals		-		31,349		-		31,349
Corporates		-		3,814		-		3,814
Government sponsored mortgage-backed securities and SBA loan pools		-		53,633		-		53,633
Available-for-sale securities	$	99	$	97,193	$	-	$	97,292

Fair Value Measurements, Nonrecurring [Table Text Block]

Impaired loans (collateral dependent):
	Level 1 inputs		Level 2 inputs		Level 3 inputs		Total fair value
September 30, 2016	$	-	$	-	$	3,021	$	3,021
December 31, 2015	$	-	$	-	$	5,000	$	5,000

Foreclosed assets held for sale:
	Level 1 inputs		Level 2 inputs		Level 3 inputs		Total fair value
September 30, 2016	$	-	$	-	$	-	$	-
December 31, 2015	$	-	$	-	$	-	$	-

Fair Value Inputs, Assets, Quantitative Information [Table Text Block]

	Fair Value September 30, 2016		Valuation Technique	Unobservable Input	Range (Weighted Average)
Impaired loans (collateral dependent)	$	3,021	Market Comparable	Discount to reflect realizable value	0%	-	50%	(11%)
Foreclosed assets held for sale	$	-	Market Comparable	Discount to reflect realizable value		0%

	Fair Value December 31, 2015		Valuation Technique	Unobservable Input	Range (Weighted Average)
Impaired loans (collateral dependent)	$	5,000	Market Comparable	Discount to reflect realizable value	0%	-	23%	(4%)
Foreclosed assets held for sale	$	-	Market Comparable	Discount to reflect realizable value		0%

Fair Value, by Balance Sheet Grouping [Table Text Block]

	September 30, 2016
	Carrying Amount		Fair Value		Hierarchy Level
Financial assets:
Cash and cash equivalents	$	10,948,705	$	10,948,705		1
Held-to-maturity securities		30,363		31,031		2
Federal Home Loan Bank stock		3,767,000		3,767,000		2
Mortgage loans held for sale		2,564,342		2,564,342		2
Loans, net		525,862,944		528,440,979		3
Interest receivable		1,808,980		1,808,980		2
Financial liabilities:
Deposits		515,764,148		501,675,796		2
Federal Home Loan Bank advances		74,600,000		74,731,510		2
Subordinated debentures		15,465,000		15,465,000		3
Interest payable		203,417		203,417		2
Unrecognized financial instruments (net of contractual value):
Commitments to extend credit		-		-		-
Unused lines of credit		-		-		-

	December 31, 2015
	Carrying Amount		Fair Value		Hierarchy Level
Financial assets:
Cash and cash equivalents	$	18,774,419	$	18,774,419		1
Held-to-maturity securities		43,099		43,935		2
Federal Home Loan Bank stock		2,837,500		2,837,500		2
Mortgage loans held for sale		1,902,933		1,902,933		2
Loans, net		491,001,907		495,207,798		3
Interest receivable		1,986,692		1,986,692		2
Financial liabilities:
Deposits		517,385,695		511,225,380		2
Federal Home Loan Bank advances		52,100,000		53,227,960		2
Subordinated debentures		15,465,000		15,465,000		3
Interest payable		196,102		196,102		2
Unrecognized financial instruments (net of contractual value):
Commitments to extend credit		-		-		-
Unused lines of credit		-		-		-