Investment Securities (Tables)

12 Months Ended

Dec. 31, 2015

Investments, Debt and Equity Securities [Abstract]

Amortized Cost and Estimated Fair Value of Securities Available-for-Sale

The amortized cost and estimated fair value of securities available-for-sale and the corresponding amounts of gross unrealized gains and losses recognized in accumulated other comprehensive income at December 31, 2015 and 2014 were as follows:

2015	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities available-for-sale Obligations of U.S. Government agencies	$	83,826,411	$	1,100	$	1,577,145	$	82,250,366
Mortgage-backed securities		92,602,875		467,693		1,348,603		91,721,965
State, County, Municipals		87,948,336		2,609,469		181,442		90,376,363
Other investments		2,931,134		—		15,425		2,915,709
Total	$	267,308,756	$	3,078,262	$	3,122,615	$	267,264,403
2014	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities available-for-sale Obligations of U.S. Government agencies	$	77,996,980	$	—	$	2,035,905	$	75,961,075
Mortgage-backed securities		12,501,990		824,844		—		13,326,834
State, County, Municipals		84,896,091		3,048,489		360,082		87,584,498
Other investments		2,997,401		—		124,678		2,872,723
Total	$	178,392,462	$	3,873,333	$	2,520,665	$	179,745,130

Amortized Cost and Estimated Fair Value of Securities Held-to-Maturity

The amortized cost and estimated fair value of HTM securities and the corresponding amounts of gross unrecognized gains and losses were as follows:

2015	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities held-to-maturity Obligations of U.S. Government agencies	$	161,043,404	$	8,002,431	$	—	$	169,045,835
Total	$	161,043,404	$	8,002,431	$	—	$	169,045,835
2014	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Securities held-to-maturity Obligations of U.S. Government agencies	$	206,817,169	$	9,928,269	$	—	$	216,745,438
Total	$	206,817,169	$	9,928,269	$	—	$	216,745,438

Summary of Unrealized Loss Information for Available-for-sale Securities

A summary of unrealized loss information for AFS securities, categorized by security type follows (in thousands):

December 31, 2015	Less than 12 months				12 months or more				Total
Description of Securities	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Obligations of U.S.
Government agencies	$	50,915	$	716	$	26,335	$	861	$	77,250	$	1,577
Mortgage backed securities		83,001		1,349		—		—		83,001		1,349
State, County, Municipal		2,393		10		12,623		172		15,016		182
Other investments		—		—		2,916		15		2,916		15
Total	$	136,309	$	2,075	$	41,874	$	1,048	$	178,183	$	3,123
December 31, 2014	Less than 12 months				12 months or more				Total
Description of Securities	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Obligations of U.S.
Government agencies	$	—	$	—	$	75,961	$	2,036	$	75,961	$	2,036
State, County, Municipal		697		3		14,980		357		15,677		360
Other investments		—		—		2,873		125		2,873		125
Total	$	697	$	3	$	93,814	$	2,518	$	94,511	$	2,521

Amortized Cost and Estimated Fair Value of Securities by Contractual Maturity

The amortized cost and estimated fair value of securities at December 31, 2015, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

AFS	Amortized Cost		Fair Value
Securities AFS
Due in one year or less	$	3,008,448	$	3,028,887
Due after one year through five years		13,587,885		13,985,525
Due after five years through ten years		80,749,532		80,346,720
Due after ten years		169,962,891		169,903,271
Total	$	267,308,756	$	267,264,403
HTM	Amortized Cost		Fair Value
Securities HTM
Due after five years through ten years	$	37,052,187	$	38,528,059
Due after ten years		123,991,217		130,517,776
Total	$	161,043,404	$	169,045,835

Total Gross Realized Gains and Gross Realized Losses from Sale of Investment Securities

Total gross realized gains and gross realized losses from the sale of investment securities for each of the years ended December 31 were:

	2015		2014		2013
Gross realized gains	$	142,422	$	206,258	$	1,039,793
Gross realized losses		124,919		191,716		616,405
	$	17,503	$	14,542	$	423,388