Note 9 - Disclosures About Fair Value of Assets and Liabilities (Tables)

9 Months Ended

Sep. 30, 2017

Notes Tables

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

9/30/2017
Financial assets:
	Level 1 inputs		Level 2 inputs		Level 3 inputs		Total fair value
Debt securities:
Municipals	$	-	$	33,893	$	-	$	33,893
Corporates		-		3,070		-		3,070
Government sponsored mortgage-backed securities and SBA loan pools		-		46,242		-		46,242
Available-for-sale securities	$	-	$	83,205	$	-	$	83,205

	Level 1 inputs		Level 2 inputs		Level 3 inputs		Total fair value
Interest rate swaps	$	-	$	151	$	-	$	151

12/31/2016
Financial assets:
	Level 1 inputs		Level 2 inputs		Level 3 inputs		Total fair value
Debt securities:
Municipals	$	-	$	38,338	$	-	$	38,338
Corporates		-		7,053		-		7,053
Government sponsored mortgage-backed securities and SBA loan pools		-		47,008		-		47,008
Available-for-sale securities	$	-	$	92,399	$	-	$	92,399

Fair Value Measurements, Nonrecurring [Table Text Block]

Impaired loans:
	Level 1 inputs		Level 2 inputs		Level 3 inputs		Total fair value
September 30, 2017	$	-	$	-	$	1,474	$	1,474
December 31, 2016	$	-	$	-	$	1,006	$	1,006

Foreclosed assets held for sale:
	Level 1 inputs		Level 2 inputs		Level 3 inputs		Total fair value
September 30, 2017	$	-	$	-	$	-	$	-
December 31, 2016	$	-	$	-	$	149	$	149

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

	Fair Value September 30, 2017		Valuation Technique	Unobservable Input	Range (Weighted Average)
Impaired loans (collateral dependent)	$	1,474	Market Comparable	Discount to reflect realizable value		0%	-	100%	(15%)
Foreclosed assets held for sale	$	-	Market Comparable	Discount to reflect realizable value			0%

	Fair Value December 31, 2016		Valuation Technique	Unobservable Input	Range (Weighted Average)
Impaired loans (collateral dependent)	$	1,006	Market Comparable	Discount to reflect realizable value		0%	-	100%	(7%)
Foreclosed assets held for sale	$	149	Market Comparable	Discount to reflect realizable value			10%

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

	September 30, 2017
	Carrying Amount		Fair Value		Hierarchy Level
Financial assets:
Cash and cash equivalents	$	10,721,184	$	10,721,184		1
Held-to-maturity securities		18,424		18,582		2
Federal Home Loan Bank stock		4,137,500		4,137,500		2
Mortgage loans held for sale		2,516,520		2,516,520		2
Loans, net		616,884,052		613,749,211		3
Interest receivable		2,164,278		2,164,278		2
Financial liabilities:
Deposits		584,088,617		583,406,521		2
Federal Home Loan Bank advances		82,800,000		83,002,996		2
Subordinated debentures		15,465,000		15,465,000		3
Interest payable		253,045		253,045		2
Unrecognized financial instruments (net of contractual value):
Commitments to extend credit		-		-		-
Unused lines of credit		-		-		-

	December 31, 2016
	Carrying Amount		Fair Value		Hierarchy Level
Financial assets:
Cash and cash equivalents	$	9,088,441	$	9,088,441		1
Held-to-maturity securities		27,528		28,153		2
Federal Home Loan Bank stock		4,611,000		4,611,000		2
Mortgage loans held for sale		2,183,633		2,183,633		2
Loans, net		538,273,640		537,645,692		3
Interest receivable		1,947,063		1,947,063		2
Financial liabilities:
Deposits		505,362,750		504,829,161		2
Federal Home Loan Bank advances		95,700,000		95,764,840		2
Subordinated debentures		15,465,000		15,465,000		3
Interest payable		207,833		207,833		2
Unrecognized financial instruments (net of contractual value):
Commitments to extend credit		-		-		-
Unused lines of credit		-		-		-