FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value Measurements Disclosure [Abstract]

Schedule of assets measured at fair value on a recurring basis segregated by fair value hierarchy level

	Fair Value Measurements at December 31, 2015 Using:
	Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Assets:	(Level 1)		(Level 2)		(Level 3)		Total
Securities:
U.S. government agency obligations	$	-	$	29,048,102	$	-	$	29,048,102
State and municipal securities		-		45,734,239		-		45,734,239
Other securities		-		3,501		-		3,501
Mortgage-backed: residential		-		28,970,772		-		28,970,772
Total securities available for sale	$	-	$	103,756,614	$	-	$	103,756,614

	Fair Value Measurements at December 31, 2014 Using:
	Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Assets:	(Level 1)		(Level 2)		(Level 3)		Total
Securities:
U.S. government agency obligations	$	-	$	25,869,606	$	-	$	25,869,606
State and municipal securities		-		45,573,608		-		45,573,608
Other securities		-		3,501		-		3,501
Mortgage-backed: residential		-		32,778,977		-		32,778,977
Total securities available for sale	$	-	$	104,225,692	$	-	$	104,225,692

Schedule of assets measured at fair value on a nonrecurring basis by fair value hierarchy level

	Fair Value Measurements at December 31, 2015 Using:
	Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Assets:	(Level 1)		(Level 2)		(Level 3)		Total
Foreclosed assets:
Real estate:
Commercial	$	-	$	-	$	19,000	$	19,000
Construction and land		-		-		604,500	$	604,500
Total foreclosed assets	$	-	$	-	$	623,500	$	623,500
Impaired loans:
Real estate loans:
One-to-four family	$	-	$	-	$	140,500	$	140,500
Commercial		-		-		358,395		358,395
		-		-		498,895		498,895
Commercial business		-		-		239,062		239,062
Consumer:
Home equity		-		-		39,625		39,625
Total impaired loans	$	-	$	-	$	777,582	$	777,582
Mortgage Servicing Rights	$	-	$	1,109,720	$	-	$	1,109,720

	Fair Value Measurements at December 31, 2014 Using:
	Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Assets:	(Level 1)		(Level 2)		(Level 3)		Total
Foreclosed assets:
Real estate:
Construction and land		-		-		1,042,087		1,042,087
Total foreclosed assets	$	-	$	-	$	1,042,087	$	1,042,087
Impaired loans:
Real estate loans:
One-to-four family	$	-	$	-	$	707,838	$	707,838
Commercial		-		-		1,342,966		1,342,966
		-		-		2,050,804		2,050,804
Total impaired loans	$	-	$	-	$	2,050,804	$	2,050,804

Schedule of quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis

The following table presents quantitative information about Level 3 fair value measurements for significant categories of financial instruments measured at fair value on a non-recurring basis at December 31, 2015:

	Fair Value		Valuation Techniques	Unobservable Inputs	Range	Weighted Average
Foreclosed assets:
Real estate:
Construction and land	$	604,500	Sales Comparison	Adjustment for difference between comparable sales	-29% to 5%		-8.9	%
Impaired loans:
Real estate loans:
One-to-four family	$	140,500	Sales Comparison	Adjustment for difference between comparable sales	-19% to -7%		-13.0	%
Commercial		88,000	Sales Comparison	Adjustment for difference between comparable sales	9% to 16%		12.8	%
Commercial		270,395	Income Approach	Investment Capitalization Rates	9.0%		9.0	%
Commercial business		121,094	Fair Value of Collateral	Discount for type of business assets	0% to 10%		7.0	%

The following table presents quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis at December 31, 2014:

	Fair Value		Valuation Techniques	Unobservable Inputs	Range	Weighted Average
Foreclosed assets:
Real estate:
Construction and land	$	1,042,087	Sales Comparison	Adjustment for difference between comparable sales	-10% to 30%		10.3	%
Impaired loans:
Real estate loans:
One-to-four family	$	707,838	Sales Comparison	Adjustment for difference between comparable sales	-23% to 13%		-7.2	%
Commercial		1,342,966	Income Approach	Investment Capitalization Rates	3% to 27%		12.3	%