10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 10-Q

(Mark one)

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2015

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                      to                     

Commission file number: 1-34534

ATHENS BANCSHARES CORPORATION

(Exact name of registrant as specified in its charter)

Tennessee	27-0920126
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

106 Washington Avenue, Athens, Tennessee	37303
(Address of principal executive offices)	(Zip Code)

(423) 745-1111

(Registrant’s telephone number, including area code)

Not Applicable

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definition of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer	¨	Accelerated filer	¨
Non-accelerated filer	¨  (Do not check if a smaller reporting company)	Smaller reporting company	x

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨    No  x

As of August 3, 2015, the number of shares of common stock outstanding was 1,808,575.

ATHENS BANCSHARES CORPORATION

Table of Contents

		Page No.
Part I. Financial Information
Item 1.	Financial Statements
	Consolidated Balance Sheets as of June 30, 2015 (unaudited) and December 31, 2014		1
	Consolidated Statements of Income for the Three and Six Months Ended June 30, 2015 and 2014 (unaudited)		2
	Consolidated Statements of Comprehensive Income for the Three and Six Months Ended June 30, 2015 and 2014 (unaudited)		3
	Consolidated Statements of Changes in Stockholders’ Equity for the Six Months Ended June 30, 2015 (unaudited)		4
	Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2015 and 2014 (unaudited)		5
	Notes to Consolidated Financial Statements (unaudited)		6
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations		28
Item 3.	Quantitative and Qualitative Disclosures About Market Risk		33
Item 4.	Controls and Procedures		34
Part II. Other Information
Item 1.	Legal Proceedings		35
Item 1A.	Risk Factors		35
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds		35
Item 3.	Defaults Upon Senior Securities		35
Item 4.	Mine Safety Disclosures		35
Item 5.	Other Information		35
Item 6.	Exhibits		36
Signatures			37

Part I. FINANCIAL INFORMATION

Item 1. Financial Statements

ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

CONSOLIDATED BALANCE SHEETS

	(Unaudited) June 30, 2015			December 31, 2014
ASSETS
Cash and due from banks	$	6,735,473		$	9,909,563
Interest-bearing deposits in banks		2,015,978			2,015,978
Total cash and cash equivalents		8,751,451			11,925,541
Securities available for sale		27,257,305			28,771,754
Investments, at cost		3,449,000			3,449,000
Loans, net of allowance for loan losses of $3,887,533 and $3,914,848 at June 30, 2015 and December 31, 2014, respectively		248,260,422			238,558,389
Premises and equipment, net		4,150,842			4,024,176
Accrued interest receivable		932,414			1,007,115
Cash surrender value of bank owned life insurance		10,230,309			10,096,191
Foreclosed real estate		2,223,261			1,942,844
Other assets		2,752,132			2,629,334
Total assets	$	308,007,136		$	302,404,344
LIABILITIES AND STOCKHOLDERS’ EQUITY
LIABILITIES
Deposits:
Noninterest-bearing	$	26,783,455		$	23,978,164
Interest-bearing		228,688,783			224,594,067
Total deposits		255,472,238			248,572,231
Accrued interest payable		115,895			132,397
Securities sold under agreements to repurchase		1,032,223			1,512,993
Federal Home Loan Bank advances		3,000,000			5,000,000
Accrued expenses and other liabilities		4,559,003			4,506,841
Total liabilities		264,179,359			259,724,462
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY
Preferred stock, $0.01 par value; 10,000,000 shares authorized; none issued		—			—
Common stock, $0.01 par value; 50,000,000 shares authorized; 2,777,250 shares issued and 1,808,575 outstanding at June 30, 2015 and 1,801,701 outstanding at December 31, 2014		18,086			18,017
Additional paid-in capital		17,974,118			17,956,982
Common stock acquired by benefit plans:
Restricted stock		(223,183	)		(354,313	)
Unallocated common stock held by:
Employee Stock Ownership Plan Trust		(1,481,200	)		(1,481,200	)
Retained earnings		27,304,090			26,202,795
Accumulated other comprehensive income (loss)		235,866			337,601
Total stockholders’ equity		43,827,777			42,679,882
Total liabilities and stockholders’ equity	$	308,007,136		$	302,404,344

The accompanying notes are an integral part of these consolidated financial statements.

1

ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	Three Months Ended June 30,				Six Months Ended June 30,
	2015		2014		2015		2014
Interest and dividend income:
Loans, including fees	$	3,264,403	$	3,185,420	$	6,462,544	$	6,402,401
Dividends		62,467		64,882		132,159		94,108
Securities and interest-bearing deposits in other banks		172,178		177,322		349,313		362,527
Total interest income		3,499,048		3,427,624		6,944,016		6,859,036
Interest expense:
Deposits		370,532		455,086		773,540		929,084
Fed funds purchased and securities sold under agreements to repurchase		205		215		534		514
Federal Home Loan Bank advances		1,979		—		3,724		—
Total interest expense		372,716		455,301		777,798		929,598
Net interest income		3,126,332		2,972,323		6,166,218		5,929,438
Provision for loan losses		95,407		26,890		201,813		53,162
Net interest income after provision for loan losses		3,030,925		2,945,433		5,964,405		5,876,276
Noninterest income:
Customer service fees		543,111		516,240		1,034,918		1,007,585
Other charges and fees		501,863		400,194		923,009		767,756
Investment sales commissions		123,187		133,039		279,914		310,394
Increase in cash surrender value of life insurance		84,663		86,948		168,452		173,014
Other noninterest income		151,700		137,925		308,800		243,723
Total noninterest income		1,404,524		1,274,346		2,715,093		2,502,472
Noninterest expenses:
Salaries and employee benefits		1,878,517		1,770,903		3,771,671		3,573,752
Occupancy and equipment		371,029		390,675		747,280		791,931
Federal deposit insurance premiums		47,000		48,000		95,000		91,000
Data processing		277,562		252,801		546,713		494,773
Advertising		59,058		51,409		121,476		95,470
Other operating expenses		666,491		669,005		1,391,492		1,298,629
Total noninterest expenses		3,299,657		3,182,793		6,673,632		6,345,555
Income before income taxes		1,135,792		1,036,986		2,005,866		2,033,193
Income tax expense		386,515		367,413		664,663		703,262
Net income	$	749,277	$	669,573	$	1,341,203	$	1,329,931
Earnings per common share
Basic	$	0.45	$	0.41	$	0.81	$	0.79
Diluted	$	0.42	$	0.38	$	0.75	$	0.75
Dividends per common share	$	0.05	$	0.05	$	0.10	$	0.10

The accompanying notes are an integral part of these consolidated financial statements.

2

ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
	2015			2014			2015			2014
Net income	$	749,277		$	669,573		$	1,341,203		$	1,329,931
Other comprehensive income (loss), before tax:
Unrealized holding gains (losses) on securities available for sale		(320,408	)		184,433			(164,089	)		425,635
Income tax (expense) benefit related to other comprehensive income items		121,755			(70,084	)		62,354			(161,741	)
Other comprehensive income (loss), net of tax		(198,653	)		114,349			(101,735	)		263,894
Comprehensive income	$	550,624		$	783,922		$	1,239,468		$	1,593,825

The accompanying notes are an integral part of these consolidated financial statements.

3

ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

Six Months Ended June 30, 2015

(Unaudited)

	Shares of Common Stock			Common Stock			Additional Paid-In Capital			Retained Earnings			Common Stock Acquired By Benefit Plans			Accumulated Other Comprehensive Income			Total
Balance, December 31, 2014		1,801,701		$	18,017		$	17,956,982		$	26,202,795		$	(1,835,513	)	$	337,601		$	42,679,882
Net income		—			—			—			1,341,203			—			—			1,341,203
Other comprehensive loss		—			—			—			—			—			(101,735	)		(101,735	)
Dividends - $0.10 per share		—			—			—			(164,858	)		—			—			(164,858	)
Release of restricted stock plan shares		—			—			(131,130	)		—			131,130			—			—
Stock compensation expense		—			—			196,085			—			—			—			196,085
Repurchase and retirement of Company common stock		(5,000	)		(50	)		(47,700	)		(75,050	)		—			—			(122,800	)
Issuance of Company common stock		11,874			119			(119	)		—			—			—			—
Balance, June 30, 2015		1,808,575		$	18,086		$	17,974,118		$	27,304,090		$	(1,704,383	)	$	235,866		$	43,827,777

The accompanying notes are an integral part of these consolidated financial statements.

4

ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

	Six Months Ended
	June 30, 2015			June 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	1,341,203		$	1,329,931
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		265,867			325,644
Amortization of securities and other assets		109,227			145,111
Provision for loan losses		201,813			53,162
Deferred income taxes		(122,791	)		148,425
Other gains and losses, net		(32,873	)		(55,466	)
Stock compensation expense		196,085			175,214
Net change in:
Cash surrender value of life insurance, net		(134,118	)		(140,911	)
Accrued interest receivable		74,701			213,731
Accrued interest payable		(16,502	)		(15,629	)
Other assets and liabilities		554,092			(90,888	)
Net cash provided by operating activities		2,436,704			2,088,324
CASH FLOWS FROM INVESTING ACTIVITIES:
Securities available for sale:
Purchases		—			(2,384,289	)
Maturities, prepayments and calls		1,277,799			4,408,542
Sales		—			398,763
Proceeds from redemption of FHLB stock		—			349,800
Loan originations and principal collections, net		(11,139,486	)		(6,262,750	)
Purchases of premises and equipment		(393,047	)		(49,742	)
Proceeds from sale of foreclosed real estate		512,360			70,444
Net cash used in investing activities		(9,742,374	)		(3,469,232	)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase in deposits		6,900,008			4,772,246
Net decrease in securities sold under agreements to repurchase		(480,770	)		(181,828	)
Net decrease in FHLB advances		(2,000,000	)		—
Repurchase and retirement of Company common stock		(122,800	)		(1,855,088	)
Dividends paid		(164,858	)		(168,607	)
Net cash provided by financing activities		4,131,580			2,566,723
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS		(3,174,090	)		1,185,815
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD		11,925,541			15,135,387
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	8,751,451		$	16,321,202
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest paid on deposits and borrowed funds	$	794,300		$	945,227
Income taxes paid		1,034,770			817,366
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING ACTIVITIES:
Acquisition of real estate acquired through foreclosure	$	820,640		$	1,272,056
Financed sales of foreclosed real estate	$	—		$	374,000

The accompanying notes are an integral part of these consolidated financial statements.

5

ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 1. Summary of Significant Accounting Policies

The accounting and reporting policies of Athens Bancshares Corporation (the “Company”) and subsidiary conform with United States generally accepted accounting principles (“GAAP”) and practices within the banking industry. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) are also sources of authoritative GAAP for SEC registrants.

The policies that materially affect financial condition and results of operations are summarized as follows:

Interim Financial Information (Unaudited)

The accompanying unaudited consolidated financial statements have been prepared in accordance with GAAP for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X as promulgated by the SEC. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring accruals) considered necessary for a fair presentation of the financial condition and results of operations for the periods presented have been included. Operating results for the three and six months ended June 30, 2015, are not necessarily indicative of the results that may be expected for the full year or in any other period. For further information, refer to the Company’s consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014.

The Company has evaluated events and transactions for potential recognition and disclosure through the date the financial statements were issued.

Nature of operations

The Company is a holding company whose principal activity is the ownership and management of its wholly owned subsidiary, Athens Federal Community Bank (the “Bank”). The Bank provides a variety of financial services to individuals and corporate customers through its seven branches located in Athens, Sweetwater, Etowah, Madisonville, and Cleveland, Tennessee. The Bank’s primary deposit products include checking, savings, certificates of deposit, and IRA accounts. Its primary lending products are one-to-four family residential, commercial real estate, and consumer loans. Southland Finance, Inc. (“Southland”) is a consumer finance company with one branch located in Athens, Tennessee. Ti-Serv, Inc. (“Ti-Serv”) maintains the Bank’s investment in Valley Title Services, LLC (“Valley Title”). Southland and Ti-Serv are wholly-owned subsidiaries of the Bank. Valley Title is a wholly-owned subsidiary of Ti-Serv.

6

ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 1. Summary of Significant Accounting Policies (Continued)

Use of estimates

The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, the valuation of deferred tax assets, other-than-temporary impairment of securities, and the fair value of financial instruments.

Recent Accounting Pronouncements

The Company has determined that all recently issued accounting pronouncements will not have a material impact on its consolidated financial statements or do not apply to its operations.

Earnings Per Common Share

Basic earnings per share are computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company.

The following is a summary of the basic and diluted earnings per share for the three months ended June 30, 2015 and 2014:

	Three Months Ended June 30,
	2015		2014
Numerator: Net income	$	749,277	$	669,573
Denominator: Weighted average common shares outstanding		1,651,191		1,642,295
Effect of dilutive stock options		130,610		110,031
Diluted shares		1,781,801		1,752,326
Basic earnings per share	$	0.45	$	0.41
Diluted earnings per share	$	0.42	$	0.38

7

ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 1. Summary of Significant Accounting Policies (Continued)

Earnings per share (Continued)

The following is a summary of the basic and diluted earnings per share for the six months ended June 30, 2015 and 2014:

	Six Months Ended June 30,
	2015		2014
Numerator: Net income	$	1,341,203	$	1,329,931
Denominator: Weighted average common shares outstanding		1,650,501		1,675,591
Effect of dilutive stock options		127,425		104,832
Diluted shares	$	1,777,926	$	1,780,423
Basic earnings per share	$	0.81	$	0.79
Diluted earnings per share	$	0.75	$	0.75

Reclassifications

Certain amounts from prior period financial statements have been reclassified to conform to the current period’s presentation. The reclassifications had no effect on net income, total assets or stockholders’ equity as previously reported.

Note 2. Securities

The amortized cost and estimated fair value of securities classified as available for sale and held to maturity at June 30, 2015 and December 31, 2014 are as follows:

	June 30, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Securities of U.S. Government agencies and corporations	$	2,599,925	$	18,995	$	(17,309	)	$	2,601,611
Mortgage-backed and related securities (1)		11,548,721		188,625		(19,586	)		11,717,760
State and municipal securities		12,728,230		258,915		(49,211	)		12,937,934
	$	26,876,876	$	466,535	$	(86,106	)	$	27,257,305

8

ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 2. Securities (Continued)

	December 31, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Securities of U.S. Government agencies and corporations	$	2,641,393	$	9,564	$	(21,103	)	$	2,629,854
Mortgage-backed and related securities (1)		12,835,109		204,492		(2,478	)		13,037,123
State and municipal securities		12,750,735		393,364		(39,322	)		13,104,777
	$	28,227,237	$	607,420	$	(62,903	)	$	28,771,754

(1) Collateralized by residential mortgages and guaranteed by U.S. Government sponsored entities.

As of June 30, 2015 and December 31, 2014, the Company did not have any securities classified as held-to-maturity.

The amortized cost and estimated market value of securities at June 30, 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.

	June 30, 2015
	Securities Available for Sale
	Amortized Cost		Fair Value
Due in one year or less	$	87,373	$	88,188
Due after one year through five years		7,974,876		8,046,818
Due five years to ten years		6,106,110		6,246,843
Due after ten years		1,159,796		1,157,696
Mortgage-backed securities		11,548,721		11,717,760
Total	$	26,876,876	$	27,257,305

The Company had no realized gains or losses for the six month periods ended June 30, 2015 and 2014.

The Company has pledged securities with carrying values of approximately $2,002,000 and $19,554,000 to secure deposits of public and private funds as of June 30, 2015 and December 31, 2014, respectively.

9

ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 2. Securities (Continued)

Securities with gross unrealized losses at June 30, 2015 and December 31, 2014, aggregated by investment category and length of time that individual securities have been in a continuous loss position, are as follows:

	June 30, 2015
	Less than 12 Months					12 Months or Greater							Total
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
	(dollars in thousands)
Securities Available for Sale:
Securities of U.S. Government agencies and corporations	$	—	$	—		$	983	$	(17	)	$	983	$	(17	)
State and municipal securities		2,356		(27	)		1,161		(22	)		3,517		(49	)
Mortgage-backed and related securities		1,426		(20	)		—		—			1,426		(20	)
	$	3,782	$	(47	)	$	2,144	$	(39	)	$	5,926	$	(86	)
	December 31, 2014
	Less than 12 Months					12 Months or Greater							Total
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
	(dollars in thousands)
Securities Available for Sale:
Securities of U.S. Government agencies and corporations	$	—	$	—		$	979	$	(21	)	$	979	$	(21	)
State and municipal securities		—		—			2,354		(39	)		2,354		(39	)
Mortgage-backed and related securities		986		(2	)		793		(1	)		1,779		(3	)
	$	986	$	(2	)	$	4,126	$	(61	)	$	5,112	$	(63	)

Management performs periodic reviews for impairment in accordance with ASC Topic 320, Investments – Debt and Equity Securities.

10

ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 2. Securities (Continued)

At June 30, 2015, the 10 securities with unrealized losses had depreciated 1.43 percent from the Company’s amortized cost basis. At December 31, 2014, the 5 securities with unrealized losses had depreciated 1.22 percent from the Company’s amortized cost basis.

Most of these securities are guaranteed by either U.S. government corporations or agencies or had investment grade ratings upon purchase. Further, the issuers of these securities have not established any cause for default. The unrealized losses associated with these investment securities are primarily driven by changes in interest rates and are not due to the credit quality of the securities. These securities will continue to be monitored as a part of the Company’s ongoing impairment analysis, but are expected to perform even if the rating agencies reduce the credit rating of the bond insurers. Management evaluates the financial performance of each issuer on a quarterly basis to determine if it is probable that the issuers can make all contractual principal and interest payments.

Upon acquisition of a security, the Company determines the appropriate impairment model that is applicable. If the security is a beneficial interest in securitized financial assets, the Company uses the beneficial interests in securitized financial assets impairment model. If the security is not a beneficial interest in securitized financial assets, the Company uses the debt and equity securities impairment model. The Company conducts periodic reviews to evaluate each security to determine whether an other-than-temporary impairment has occurred. The Company does not have any securities that have been classified as other-than-temporarily-impaired at June 30, 2015.

Note 3. Investments, at Cost

The Bank carries the following investments at cost because they are not readily marketable and there is no established market price for the investments. These investments are normally redeemed by the issuer at par value and may carry call or put options under certain circumstances. Investments carried at cost at June 30, 2015 and December 31, 2014 consist of:

	June 30, 2015		December 31, 2014
Federal Home Loan Bank of Cincinnati common stock	$	2,549,000	$	2,549,000
Tenth Street Fund III, L.P. investment		900,000		900,000
	$	3,449,000	$	3,449,000

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ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 4. Loans and Allowances for Loan Losses

The Bank and Southland provide mortgage, consumer, and commercial lending services to individuals and businesses primarily in the East Tennessee area.

The Company’s loans consist of the following at June 30, 2015 and December 31, 2014:

	June 30, 2015			December 31, 2014
Mortgage loans on real estate:
Residential 1-4 family	$	92,677,662		$	89,126,412
Commercial real estate and multi-family		96,318,570			87,742,414
Construction and land		20,607,717			27,301,773
		209,603,949			204,170,599
Commercial loans		15,614,752			14,363,545
Consumer and other		27,820,895			24,698,430
Total loans		253,039,596			243,232,574
Less: Allowance for loan losses		(3,887,533	)		(3,914,848	)
Unearned interest and fees		(411,363	)		(363,622	)
Net deferred loan origination fees		(480,278	)		(395,715	)
Loans, net	$	248,260,422		$	238,558,389

The following presents activity in the allowance for loan losses for the six months ended June 30, 2015 and the year ended December 31, 2014:

	June 30, 2015			December 31, 2014
Beginning balance	$	3,914,848		$	4,432,069
Provision for loan losses		201,813			109,621
Loans charged-off		(277,599	)		(696,602	)
Recoveries		48,471			69,760
Ending balance	$	3,887,533		$	3,914,848

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ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 4. Loans and Allowances for Loan Losses (Continued)

Loan impairment and any related valuation allowance is determined under the provisions established by ASC Topic 310. For all periods presented, impaired loans without a valuation allowance represent loans for which management believes that the collateral value of the loan is higher than the carrying value of that loan.

The allocation of the allowance for loan losses and recorded investment in loans by portfolio segment are as follows:

	June 30, 2015
	Commercial		Residential 1-4 Family		Commercial Real Estate and Multi- Family		Construction and Land		Consumer and Other		Unallocated		Total
Specified reserves-impaired loans	$	28,702	$	282,381	$	92,433	$	26,561	$	63,856	$	—	$	493,933
General reserves		294,764		841,182		1,204,065		557,069		495,564		956		3,393,600
Total reserves	$	323,466	$	1,123,563	$	1,296,498	$	583,630	$	559,420	$	956	$	3,887,533
Impaired loans	$	1,767,237	$	2,696,747	$	474,476	$	278,465	$	296,457	$	—	$	5,513,382
Performing loans		13,847,515		89,980,915		95,844,094		20,329,252		27,524,438		—		247,526,214
Total	$	15,614,752	$	92,677,662	$	96,318,570	$	20,607,717	$	27,820,895	$	—	$	253,039,596
	December 31, 2014
	Commercial		Residential 1-4 Family		Commercial Real Estate and Multi- Family		Construction and Land		Consumer and Other		Unallocated		Total
Specified reserves-impaired loans	$	42,724	$	282,532	$	94,743	$	26,803	$	57,293	$	—	$	504,095
General reserves		270,163		828,557		1,139,953		597,247		443,284		131,549		3,410,753
Total reserves	$	312,887	$	1,111,089	$	1,234,696	$	624,050	$	500,577	$	131,549	$	3,914,848
Impaired loans	$	1,794,552	$	3,648,878	$	487,519	$	657,859	$	369,708	$	—	$	6,958,516
Performing loans		12,568,993		85,477,534		87,254,895		26,643,914		24,328,722		—		236,274,058
Total	$	14,363,545	$	89,126,412	$	87,742,414	$	27,301,773	$	24,698,430	$	—	$	243,232,574

13

ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 4. Loans and Allowances for Loan Losses (Continued)

The following table details the changes in the allowance for loan losses from December 31, 2013 to June 30, 2015 by class of loan:

	Commercial			Residential 1-4 Family			Commercial Real Estate and Multi- Family			Construction and Land			Consumer and Other			Unallocated			Total
Balance, December 31, 2013	$	331,938		$	1,442,506		$	1,108,958		$	956,726		$	530,557		$	61,384		$	4,432,069
Provision (reallocation) for loan losses		(10,828	)		(291,330	)		364,436			(156,990	)		134,168			70,165			109,621
Loans charged-off		(8,223	)		(43,999	)		(238,698	)		(175,686	)		(229,996	)		—			(696,602	)
Recoveries		—			3,912			—			—			65,848			—			69,760
Balance, December 31, 2014		312,887			1,111,089			1,234,696			624,050			500,577			131,549			3,914,848
Provision (reallocation) for loan losses		10,579			26,414			62,038			123,715			109,660			(130,593	)		201,813
Loans charged-off		—			(29,031	)		(236	)		(164,135	)		(84,197	)		—			(277,599	)
Recoveries		—			15,091			—			—			33,380			—			48,471
Balance, June 30, 2015	$	323,466		$	1,123,563		$	1,296,498		$	583,630		$	559,420		$	956		$	3,887,533

The following tables present loans individually evaluated for impairment by class of loans as of June 30, 2015 and December 31, 2014:

	June 30, 2015
	Commercial		Residential 1-4 Family		Commercial Real Estate and Multi- Family		Construction and Land		Consumer and Other		Total
Impaired loans:
Without a valuation allowance	$	17,325	$	1,602,298	$	221,095	$	202,575	$	43,355	$	2,086,648
With a valuation allowance		1,749,912		1,094,449		253,381		75,890		253,102		3,426,734
Recorded investment in impaired loans	$	1,767,237	$	2,696,747	$	474,476	$	278,465	$	296,457	$	5,513,382
Unpaid principal balance of impaired loans	$	1,807,084	$	3,088,774	$	474,476	$	803,622	$	296,616	$	6,470,572
Valuation allowance related to impaired loans	$	28,702	$	282,381	$	92,433	$	26,561	$	63,856	$	493,933
Average investment in impaired loans	$	1,781,694	$	2,691,760	$	479,832	$	309,922	$	306,742	$	5,569,950
Interest income recognized on impaired loans	$	45,485	$	60,191	$	13,033	$	5,526	$	3,811	$	128,046

14

ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 4. Loans and Allowances for Loan Losses (Continued)

	December 31, 2014
	Commercial		Residential 1-4 Family		Commercial Real Estate and Multi- Family		Construction and Land		Consumer and Other		Total
Impaired loans:
Without a valuation allowance	$	22,262	$	2,734,578	$	230,238	$	581,279	$	194,798	$	3,763,155
With a valuation allowance		1,772,290		914,300		257,281		76,580		174,910		3,195,361
Recorded investment in impaired loans	$	1,794,552	$	3,648,878	$	487,519	$	657,859	$	369,708	$	6,958,516
Unpaid principal balance of impaired loans	$	1,834,400	$	4,040,905	$	487,519	$	1,183,016	$	369,867	$	7,915,707
Valuation allowance related to impaired loans	$	42,724	$	282,532	$	94,743	$	26,803	$	57,293	$	504,095
Average investment in impaired loans	$	1,836,670	$	4,233,405	$	504,017	$	950,946	$	388,824	$	7,913,862
Interest income recognized on impaired loans	$	95,095	$	200,797	$	27,397	$	29,784	$	15,076	$	368,149

The following tables present an aged analysis of past due loans:

	June 30, 2015
	30-89 Days Past Due		90 Days or more Past Due and Non- Accrual		Total Past Due		Current Loans		Total Loans		Recorded Investment ³ 90 Days Past Due and Accruing
Residential 1-4 family	$	443,798	$	998,152	$	1,441,950	$	91,235,712	$	92,677,662	$	0
Commercial real estate and multifamily		—		81,397		81,397		96,237,173		96,318,570		0
Construction and land		—		170,268		170,268		20,437,449		20,607,717		0
Commercial		34,021		—		34,021		15,580,731		15,614,752		0
Consumer and other		112,626		90,036		202,662		27,618,233		27,820,895		12,928
Total	$	590,445	$	1,339,853	$	1,930,298	$	251,109,298	$	253,039,596	$	12,928

	December 31, 2014
	30-89 Days Past Due		90 Days or more Past Due and Non- Accrual		Total Past Due		Current Loans		Total Loans		Recorded Investment ³ 90 Days Past Due and Accruing
Residential 1-4 family	$	1,177,389	$	1,368,461	$	2,545,850	$	86,580,562	$	89,126,412	$	—
Commercial real estate and multifamily		—		86,228		86,228		87,656,186		87,742,414		—
Construction and land		33,790		525,591		559,381		26,742,392		27,301,773		—
Commercial		14,448		—		14,448		14,349,097		14,363,545		—
Consumer and other		98,598		202,722		301,320		24,397,110		24,698,430		12,335
Total	$	1,324,225	$	2,183,002	$	3,507,227	$	239,725,347	$	243,232,574	$	12,335

15

ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 4. Loans and Allowances for Loan Losses (Continued)

Credit quality indicators:

Federal regulations require the Company to review and classify its assets on a regular basis. There are three classifications for problem assets: substandard, doubtful, and loss. “Substandard assets” must have one or more defined weaknesses and are characterized by the distinct possibility that we will sustain some loss if the deficiencies are not corrected. “Doubtful assets” have the weaknesses of substandard assets with the additional characteristic that the weaknesses make collection or liquidation in full on the basis of currently existing facts, conditions and values questionable, and there is a high possibility of loss. An asset classified “loss” is considered uncollectible and of such little value that continuance as an asset of the institution is not warranted. The regulations also provide for a “special mention” category, described as assets which do not currently expose an institution to a sufficient degree of risk to warrant classification but do possess credit deficiencies or potential weaknesses deserving close attention. When the Company classifies an asset as substandard or doubtful, it may establish a specific allowance for loan losses.

The following outlines the amount of each loan classification and the amount categorized into each risk rating class:

	June 30, 2015
	Pass		Special Mention		Substandard		Doubtful		Loss		Total
Residential 1-4 family	$	88,253,626	$	1,727,289	$	2,696,747	$	—	$	—	$	92,677,662
Commercial real estate and multifamily		95,844,094		—		474,476		—		—		96,318,570
Construction and land		18,709,287		1,619,965		278,465		—		—		20,607,717
Commercial		13,836,960		10,555		1,767,237		—		—		15,614,752
Consumer and other		27,266,896		257,542		296,457		—		—		27,820,895
Total	$	243,910,863	$	3,615,351	$	5,513,382	$	—	$	—	$	253,039,596

	December 31, 2014
	Pass		Special Mention		Substandard		Doubtful		Loss		Total
Residential 1-4 family	$	83,606,922	$	1,870,612	$	3,648,878	$	—	$	—	$	89,126,412
Commercial real estate and multifamily		87,254,895		—		487,519		—		—		87,742,414
Construction and land		24,981,671		1,662,243		657,859		—		—		27,301,773
Commercial		12,555,528		13,465		1,794,552		—		—		14,363,545
Consumer and other		24,062,048		266,674		369,708		—		—		24,698,430
Total	$	232,461,064	$	3,812,994	$	6,958,516	$	—	$	—	$	243,232,574

A modification of a loan constitutes a troubled debt restructuring (“TDR”) when a borrower is experiencing financial difficulty and the modification constitutes a concession. By granting the concession, the Company expects to increase the probability of collection by more than would be expected by not granting the concession. The Company’s determination of whether a modification is a TDR considers the facts and circumstances surrounding each respective modification.

16

ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 4. Loans and Allowances for Loan Losses (Continued)

The following tables present information related to loans modified in a TDR:

	Six Months Ended June 30, 2015
	Number Of Loans		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Residential 1-4 family		—	$	—	$	—
Commercial real estate and multifamily		—		—		—
Construction and land		—		—		—
Commercial		—		—		—
Consumer and other		—		—		—
		—	$	—	$	—

	Six Months Ended June 30, 2014
	Number Of Loans		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Residential 1-4 family		—	$	—	$	—
Commercial real estate and multifamily		—		—		—
Construction and land		—		—		—
Commercial		—		—		—
Consumer and other		6		10,921		10,921
		6	$	10,921	$	10,921

The following tables set forth loans modified in a TDR from July 1 through June 30, for each respective period, that subsequently defaulted (i.e., 60 days or more past due following a modification):

	Twelve Months Ended June 30, 2015
	Number Of Loans		Outstanding Recorded Investment at Default
Residential 1-4 family		—	$	—
Commercial real estate and multifamily		—		—
Construction and land		—		—
Commercial		—		—
Consumer and other		2		10,684
		2	$	10 684

17

ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 4. Loans and Allowances for Loan Losses (Continued)

	Twelve Months Ended June 30, 2014
	Number Of Loans		Outstanding Recorded Investment at Default
Residential 1-4 family		—	$	—
Commercial real estate and multifamily		—		—
Construction and land		—		—
Commercial		—		—
Consumer and other		2		11,258
		2	$	11,258

Note 5. Fair Value Disclosures

The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. In accordance with ASC Topic 820, Fair Value Measurements and Disclosures, the fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument.

ASC Topic 820 provides a consistent definition of fair value, which focuses on exit price in an orderly transaction between market participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment. The fair value is a reasonable point within the range that is most representative of fair value under current market conditions.

ASC Topic 820 also establishes a three-tier fair value which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value, as follows:

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access.

18

ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 5. Fair Value Disclosures (Continued)

Level 2 - Significant other observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities in active markets, quoted prices in markets that are not active and other inputs that are observable or can be corroborated by observable market data.

Level 3 - Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability.

A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. There have been no changes in the methodologies used at June 30, 2015 and December 31, 2014.

The following methods and assumptions were used by the Company in estimating fair value disclosures for financial instruments.

Cash, cash equivalents, and interest-bearing deposits in banks:

The carrying amounts of cash, cash equivalents, and interest-bearing deposits in banks approximate fair values based on the short-term nature of the assets. These assets are included in Level 1 of the valuation hierarchy.

Securities:

Fair values are estimated using pricing models and discounted cash flows that consider standard input factors such as observable market data, benchmark yields, interest rate volatilities, broker/dealer quotes, and credit spreads. Securities classified as available for sale are reported at fair value utilizing Level 2 inputs.

Investments, at cost:

The carrying value of investments at cost approximate fair value. These assets are included in Level 3 of the valuation hierarchy.

Loans:

For variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. Fair value for fixed-rate loans are estimated using discounted cash flow analyses, using market interest rates for comparable loans. These are reflected within Level 3 of the valuation hierarchy. The Company does not record loans at fair value on a recurring basis. However, from time to time, a loan is considered impaired and an allowance for loan losses is established. Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. Once a loan is identified as individually impaired, management measures impairment in accordance

19

ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 5. Fair Value Disclosures (Continued)

with ASC Topic 310, Receivables. The fair value of impaired loans is estimated using several methods including collateral value, liquidation value and discounted cash flows. Those impaired loans not requiring an allowance represent loans for which the fair value of the expected repayments or collateral exceed the recorded investments in such loans. At June 30, 2015, substantially all of the total impaired loans were evaluated based on the fair value of collateral. In accordance with ASC Topic 310, impaired loans where an allowance is established based on the fair value of collateral require classification in the fair value hierarchy. When the fair value of the collateral is based on the observable market price or a current, independent appraised value, the Company records the impaired loan as nonrecurring Level 2. The Company records the impaired loan as nonrecurring Level 3 when management has become aware of events that have significantly impacted the condition or marketability of the collateral since the most recent appraisal which are not observable market prices. Also, certain impaired loans recorded as nonrecurring Level 3 are evaluated based on a discounted cash flow methodology comparing the contractual rate against the modified rate. In this case, management will reduce the appraisal value based on factors determined by their judgment and collective knowledge of the collateral and market conditions.

Foreclosed real estate:

Foreclosed real estate consisting of properties obtained through foreclosure or in satisfaction of loans is initially recorded at fair value, determined on the basis of current appraisals, comparable sales, and other estimates of value obtained principally from independent sources, adjusted for estimated selling costs. At the time of foreclosure, any excess of the loan balance over the fair value of the real estate held as collateral is treated as a charge against the allowance for loan losses. Gains or losses on sale and any subsequent adjustments to the fair value are recorded as a component of foreclosed real estate expense. Other real estate is included in Level 2 of the valuation hierarchy.

Deposits:

The fair value of deposits with no stated maturity, such as noninterest-bearing demand deposits and NOW, money market, and savings accounts, is equal to the amount payable on demand at the reporting date. The fair value of time deposits is based on the discounted value of contractual cash flows, and is included in Level 3 of the valuation hierarchy. The discount rate is estimated using the rates currently offered for deposits of similar remaining maturities.

Securities sold under agreements to repurchase:

The estimated fair value of these liabilities, which are extremely short term, approximates their carrying value. These liabilities are included in Level 3 of the valuation hierarchy.

20

ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 5. Fair Value Disclosures (Continued)

Federal Home Loan Bank advances:

Rates currently available to the Company for debt with similar terms and remaining maturities are used to estimate the fair value of existing debt. These liabilities are included in Level 3 of the valuation hierarchy.

Accrued interest:

The carrying amounts of accrued interest approximate fair value. These assets and liabilities are included in Level 3 of the valuation hierarchy.

Commitments to extend credit, letters of credit and lines of credit:

The fair value of commitments is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed-rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates.

The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis:

	Balance as of June 30, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Securities available for sale:
Securities of U.S. Government agencies and corporations	$	2,601,611	$	—	$	2,601,611	$	—
Mortgage-backed securities		11,717,760		—		11,717,760		—
State and municipal securities		12,937,934		—		12,937,934		—
Total securities available for sale	$	27,257,305	$	—	$	27,257,305	$	—

21

ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 5. Fair Value Disclosures (Continued)

	Balance as of December 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Securities available for sale:
Securities of U.S. Government agencies and corporations	$	2,629,854	$	—	$	2,629,854	$	—
Mortgage-backed securities		13,037,123		—		13,037,123		—
State and municipal securities		13,104,777		—		13,104,777		—
Total securities available for sale	$	28,771,754	$	—	$	28,771,754	$	—

At June 30, 2015 and December 31, 2014, the Company had no assets or liabilities whose fair values are measured on a recurring basis using Level 3 inputs. Additionally, there were no transfers between Levels 1 and 2.

The tables below present information about assets and liabilities for which a nonrecurring change in fair value was recorded:

	Balance as of June 30, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Impaired loans	$	2,932,801	$	—	$	1,217,570	$	1,715,231
Foreclosed real estate		2,223,261		—		2,223,261		—

	Balance as of December 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Impaired loans	$	2,691,266	$	—	$	966,265	$	1,725,001
Foreclosed real estate		1,942,844		—		1,942,844		—

For Level 3 assets measured at fair value on a non-recurring basis as of June 30, 2015, the significant unobservable inputs used in the fair value measurements are presented below.

	Carrying Amount		Valuation Technique	Significant Unobservable Input	Weighted Average of Input
Impaired loans	$	1,715,231	Present Value	Discounted Cash Flows		6.50	%

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ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 5. Fair Value Disclosures (Continued)

The carrying amount and estimated fair value of the Company’s financial instruments at June 30, 2015 and December 31, 2014 are as follows:

	June 30, 2015				December 31, 2014
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial assets:
Cash and cash equivalents	$	8,751,451	$	8,751,451	$	11,925,541	$	11,925,541
Securities available for sale		27,257,305		27,257,305		28,771,754		28,771,754
Investments, at cost		3,449,000		3,449,000		3,449,000		3,449,000
Loans, net		248,260,422		248,670,359		238,558,389		239,013,615
Accrued interest receivable		932,414		932,414		1,007,115		1,007,115
Financial liabilities:
Deposits		255,472,238		257,813,765		248,572,231		252,393,127
Securities sold under agreements to repurchase		1,032,223		1,032,223		1,512,993		1,512,993
Federal Home Loan Bank advances		3,000,000		3,000,000		5,000,000		5,000,112
Accrued interest payable		115,895		115,895		132,397		132,397
Unrecognized financial instruments (net of contract amount):
Commitments to extend credit		—		—		—		—
Letter of credit		—		—		—		—
Lines of credit		—		—		—		—

Note 6. Stock Options, ESOP, and Restricted Shares

2010 Equity Incentive Plan

The Athens Bancshares Corporation 2010 Equity Incentive Plan (“the 2010 Plan”) was approved by the Company’s stockholders at the annual meeting of stockholders held on July 14, 2010. Under the terms of the 2010 Plan, the Company may grant restricted stock awards and stock options to its employees, officers, and directors. The purpose of the 2010 Plan is to promote the success of the Company by linking the personal interests of its employees, officers, and directors to the interest of the Company’s shareholders, and by providing participants with an incentive for remarkable performance. All of the Company’s employees, officers, and directors are eligible to participate in the 2010 Plan.

Under terms of the 2010 Plan, the Company is authorized to issue up to 277,725 stock options and up to 111,090 shares of restricted stock.

Stock Options:

The Company granted stock options to its directors, officers, and employees on December 15, 2010. Both incentive stock options and non-qualified stock options were granted under the 2010 Plan. The exercise price for each option was equal to the market price of the Company’s stock on the date of grant and the maximum term of each option is ten years. The vesting period for all options is five years, pro rata, from the date of grant. The Company recognizes compensation expense over the vesting period, based on

23

ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 6. Stock Options, ESOP, and Restricted Shares (Continued)

the grant-date fair value of the options granted. The fair value of each option granted is estimated on the date of grant using the Black-Scholes option-pricing model. For the six months ended June 30, 2015 and 2014, the Company recorded stock compensation expense of $47,947 and $27,075, respectively. At June 30, 2015, the total remaining compensation cost to be recognized on non-vested options is approximately $201,381.

A summary of the activity in the 2010 Plan for the six months ended June 30, 2015, is presented in the following table:

	Six Months Ended June 30, 2015
	Shares		Average Exercise Price		Aggregate Intrinsic Value (1)
Outstanding at December 31, 2014		270,584	$	13.60		—
Granted		—		N/A		—
Exercised		20,829	$	11.50		—
Forfeited		—		N/A		—
Outstanding at June 30, 2015		249,755	$	13.78	$	3,801,179
Options exercisable at June 30, 2015		160,880	$	11.50	$	2,815,393

(1) The aggregate intrinsic value of a stock option in the table above represents the total pre-tax intrinsic value (the amount by which the current market value of the underlying stock exceeds the exercise price of the option) that would have been received by the option holders had all option holders exercised their options on June 30, 2015. This amount changes based on changes in the market value of the Company’s stock.

Other information regarding options outstanding and exercisable as of June 30, 2015, is as follows:

	Options Outstanding						Options Exercisable
Exercise Price	Number of Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life In Years		Number of Shares		Weighted- Average Exercise Price
$11.50		208,092	$	11.50		5.50		160,880	$	11.50
$25.17		41,663	$	25.17		9.50		–		25.17

24

ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 6. Stock Options, ESOP, and Restricted Shares (Continued)

2010 Equity Incentive Plan (Continued)

Information pertaining to non-vested options for the six months ended June 30, 2015, is as follows:

	Number of Shares		Weighted Average Grant Date Fair Value
Non-vested options, December 31, 2014		88,875	$	3.29
Granted		—		—
Vested		—		—
Forfeited		—		—
Non-vested options, June 30, 2014		88,875	$	3.29

Restricted Stock:

On January 19, 2011, the Company awarded 94,426 shares of restricted stock to its directors, officers, and employees pursuant to the terms of the 2010 Plan. Compensation expense associated with the performance-based share awards is recognized over the time period that the restrictions associated with the awards lapse based on the total cost of the award, which is the fair market value of the stock on the date of the grant. The closing price on the date of the grants issued on January 19, 2011 was $12.75 per share.

On December 19, 2012, the Company awarded 16,664 shares of restricted stock to its officers and employees pursuant to the terms of the 2010 Plan. The closing price on the date of the grants issued on December 19, 2012 was $16.65.

For both the six months ended June 30, 2015 and 2014, the Company recognized $148,139 in compensation expense attributable to restricted shares that have been awarded. At June 30, 2015, the total remaining compensation cost to be recognized on non-vested restricted stock is approximately $500,000.

25

ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 6. Stock Options, ESOP, and Restricted Shares (Continued)

2010 Equity Incentive Plan (Continued)

A summary of activity for unvested restricted awards for the six months ended June 30, 2015 is as follows:

	Number			Grant Date Weighted- Average Cost
Unvested at December 31, 2014		47,769		$	13.56
Shares awarded		—			—
Restrictions lapsed and shares released		(18,885	)		12.75
Shares forfeited		—			—
Unvested at June 30, 2015		28,884		$	14.10

Employee Stock Ownership Plan (ESOP)

The Bank sponsors a leveraged ESOP that covers substantially all employees who meet certain age and eligibility requirements. As part of the Company’s initial public offering, the ESOP purchased 222,180 shares, or approximately 8% of the 2,777,250 shares issued, with the proceeds of a 15 year loan from the Company which is payable in annual installments and bears interest at 3.25% per annum.

The Bank has committed to make contributions to the ESOP sufficient to support the debt service of the loan. The loan is secured by the unallocated shares, which are held in a suspense account, and are allocated among the participants as the loan is repaid. Cash dividends paid on allocated shares are distributed to the participant and cash dividends paid on unallocated shares are used to repay the outstanding debt of the ESOP.

ESOP shares are held by the plan trustee in a suspense account until allocated to participant accounts. Shares released from the suspense account are allocated to participants on the basis of their relative compensation in the year of allocation. Participants become vested in the allocated shares upon four years of employment with the Bank. Any forfeited shares are allocated to other participants in the same proportion as contributions.

As ESOP shares are allocated to participants, the Bank recognizes compensation expense equal to the fair value of the earned ESOP shares. No compensation expense has been recorded for the six months ended June 30, 2015 or 2014.

26

ATHENS BANCSHARES CORPORATION AND SUBSIDIARY

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 6. Stock Options, ESOP, and Restricted Shares (Continued)

Employee Stock Ownership Plan (ESOP) (Continued)

A detail of ESOP shares is as follows:

	June 30, 2015		December 31, 2014
Allocated shares		74,060		74,060
Unallocated shares		148,120		148,120
Total ESOP shares		222,180		222,180
Fair value of unallocated shares	$	4,295,480	$	3,762,248

Note 7. Federal Home Loan Bank Advances

At June 30, 2015, the Bank had a short term advance outstanding of $3,000,000 with interest accruing at a rate of 0.16%. Pursuant to collateral agreements with the FHLB, the advance described above is secured by the Bank’s FHLB stock and qualifying first mortgage loans.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operation

Safe Harbor Statement for Forward-Looking Statements

This report may contain forward-looking statements within the meaning of the federal securities laws. These statements are not historical facts; rather they are statements based on the Company’s current expectations regarding its business strategies and their intended results and its future performance. Forward-looking statements are preceded by terms such as “expects,” “believes,” “anticipates,” “intends” and similar expressions.

Forward-looking statements are not guarantees of future performance. Numerous risks and uncertainties could cause or contribute to the Company’s actual results, performance and achievements being materially different from those expressed or implied by the forward-looking statements. Factors that may cause or contribute to these differences include, without limitation, general economic conditions, including changes in market interest rates and changes in monetary and fiscal policies of the federal government; legislative and regulatory changes; the quality and composition of the loan and investment securities portfolio; loan demand; deposit flows; competition; and changes in accounting principles and guidelines. Additional factors that may affect our results are discussed in our Annual Report on Form 10-K for the year ended December 31, 2014 under “Item 1A. Risk Factors.” These factors should be considered in evaluating the forward-looking statements and undue reliance should not be placed on such statements. Except as required by applicable law or regulation, the Company assumes no obligation and disclaims any obligation to update any forward-looking statements.

Critical Accounting Policies

During the three-month period ended June 30, 2015, there was no significant change in the Company’s critical accounting policies or the application of critical accounting policies as disclosed in the Company’s audited consolidated financial statements and related footnotes for the year ended December 31, 2014 included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014.

Comparison of Financial Condition at June 30, 2015 and December 31, 2014

Assets. Total assets increased from $302.4 million at December 31, 2014 to $308.0 million at June 30, 2015.

Cash and Cash Equivalents. Total cash and cash equivalents decreased $3.1 million, or 26.6%, from $11.9 million at December 31, 2014 to $8.8 million at June 30, 2015. This is due primarily to an increase in loans of $9.7 million, a decrease in Federal Home Loan Bank borrowings of $2.0 million, a decrease of $481,000 in securities sold under agreements to repurchase, $393,000 purchases of premises and equipment, repurchases of Company common stock in the amount of $122,000 and dividends of $165,000. These decreases in cash and cash equivalents were partially offset by a $6.9 million increase in deposits, a $1.5 million decrease in securities, $556,000 received from the sale of foreclosed real estate and other net increases in cash and cash equivalents of $800,000.

Securities. Securities decreased $1.5 million, or 5.3%, from $28.8 million at December 31, 2014 to $27.3 million at June 30, 2015, primarily as a result of $1.2 million of principal payments on mortgage-backed securities. The remaining change in securities was due primarily to amortization and mark-to-market adjustments.

Loans. Net loans receivable increased $9.7 million, or 4.1%, from $238.6 million at December 31, 2014 to $248.3 million at June 30, 2015, primarily as a result of $8.6 million, $3.5 million, $3.1 million and $1.2 million increases in commercial real estate and multifamily loans, residential 1-4 family real estate loans, consumer and equity lines of credit, and commercial loans, respectively. These increases were partially offset by a $6.7 million decrease in construction and land loans. The increase in commercial real estate and multifamily loans was primarily due to the purchase of a $5.0 million participation interest in a commercial real estate loan secured by a retail development, the origination of a $2.2 million loan secured by an office building, a $1.4 million increase to an existing hotel loan and a $4.2 million increase from the conversion of an assisted living facility to permanent financing from a construction loan. These increases were partially offset by payoffs of $4.6 million of two non-residential real estate secured loans during the period. The increase in 1-4 family residential real estate loans was primarily due to the origination of new loans and the conversion of 24 construction loans to permanent financing.

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Consumer and equity loans increased primarily due to increased marketing efforts and the offering of more competitive pricing programs. The increase in commercial loans is primarily due to new originations as a result of the Bank’s lending calling programs. The decrease in construction and land loans was primarily due to the conversions of construction loans to permanent financing partially offset by new loan originations.

Deposits. Total deposits increased $6.9 million, or 2.8%, from $248.6 million at December 31, 2014 to $255.5 million at June 30, 2015. The primary reasons for the increase in deposits were $3.4 million, $3.2 million, $279,000 and $80,000 increases in demand and NOW accounts, savings accounts, money market accounts and certificates of deposit, respectively. Demand and NOW accounts increased primarily due to increases in two public funds accounts. Savings accounts, money market accounts increased primarily due to growth in the number of new accounts for the first six months of 2015, which is attributed to increased marketing efforts.

Borrowings. Borrowings from the Federal Home Loan Bank decreased $2.0 million or 40.0% from $5.0 million at December 31, 2014 to $3.0 million at June 30, 2015. No other borrowings were outstanding.

Stockholders’ Equity. Stockholders’ equity increased $1.1 million, or 2.7%, from $42.7 million at December 31, 2014 to $43.8 million at June 30, 2015. The primary reasons for the increase include net income for the first six months of 2015 of $1.3 million and a $196,000 increase in additional paid-in capital related to stock compensation expense for the period, partially offset by decreases related to dividends paid of $165,000, repurchase of Company common stock of $123,000 and unrealized losses on securities available for sale (net of taxes) of $102,000.

Results of Operations for the Three Months Ended June 30, 2015 and 2014

Overview. The Company reported net income of $749,000, or $0.45 basic earnings per share, for the three-month period ended June 30, 2015, compared to net income of $670,000, or $0.41 basic earnings per share, for the same period in 2014.

Net Interest Income. Net interest income after provision for loan losses increased $85,000, or 2.9%, to $3.0 million for the three months ended June 30, 2015 compared to the same period in 2014.

Total interest income increased $71,000, or 2.1%, from $3.4 million for the three months ended June 30, 2014 to $3.5 million for the three months ended June 30, 2015. The increase was primarily the result of a $78,000 increase in interest on loans, partially offset by decreases of $5,000 and $3,000 in securities and interest bearing deposits in banks, and dividends, respectively. The increase in interest on loans was due primarily to higher balances in the current period.

Total interest expense decreased $83,000, or 18.1%, from $455,000 for the three months ended June 30, 2014 to $372,000 for the three months ended June 30, 2015. The decrease was primarily a result of an $85,000 decrease in interest on deposits. The primary reason for the decrease in interest on deposits was a reduction in market interest rates.

Provision for Loan Losses. The provision for loan losses was $95,000 for the three months ended June 30, 2015 compared to $27,000 for the same period in 2014.

Non-performing loans decreased $122,000 from $1.5 million at March 31, 2015 to $1.3 million at June 30, 2015. Non-performing residential mortgage loans, commercial real estate and multifamily loans, construction and land loans and consumer loans decreased $87,000, $2,000, $28,000 and $5,000, respectively. The balance of non-performing loans at June 30, 2015 includes nonaccrual loans of $1.3 million. Consumer loans of $13,000 were over 90 days past due but still accruing interest at June 30, 2015. The balance of nonaccrual loans at June 30, 2015 consists of $998,000 in residential mortgage loans, $170,000 in construction and land loans, $81,000 in commercial real estate and multifamily and $77,000 in consumer loans.

Net charge-offs were $3,000 for the three months ended June 30, 2015 compared to $464,000 for the same period in 2014. Charge-offs totaling $35,000 were recorded during the quarter ended June 30, 2015 in connection with consumer loans. The primary driver in the increase in provisions was loan growth.

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The allowance for loan losses was $3.9 million at June 30, 2015. Management has deemed this amount as adequate at that date based on their best estimate of probable known and inherent loan losses at that date.

Non-interest Income. Non-interest income increased $130,000, or 10.2%, to $1.4 million for the three months ended June 30, 2015 compared to the same period in 2014, primarily due to increases in fees related to the origination, sale and servicing of mortgage loans on the secondary market, an increase in income from Valley Title Services, LLC, an increase in other deposit related fees, and an increase in income related to debit cards of $118,000, $54,000, $16,000 and $13,000, respectively. These increases were partially offset by decreases in income related to consumer and commercial loan origination, investment sales commissions, and a decrease in the change of the cash surrender value of bank owned life insurance period over period of $58,000, $10,000, and $2,000, respectively. All other non-interest income decreased $1,000, net.

The increase in fees related to the origination, sale and servicing of mortgage loans on the secondary market and income from Valley Title Services, LLC is primarily due an increase in volume of these loans during the three months ended June 30, 2015 as compared to the same period in 2014. The increased volume is primarily a result of stable market rates period over period and a general increase in the economy. Other deposit fees increased primarily due to increases in non-sufficient funds charges on deposit accounts. Debit card income increased due to the continued shift of customers’ use of debit cards from traditional check writing. The reduction in investment sales commissions was related to a reduction in sales volume period over period, while consumer and commercial loan origination and servicing decreased due to a one-time gain on sale of foreclosed real estate in the 2014 period that was not repeated in the current period.

Non-interest Expense. Non-interest expense increased $117,000, or 3.7%, to $3.3 million for the three months ended June 30, 2015 compared to the same period in 2014. The primary factors effecting the change were increases in salary and employee benefits expense, data processing expense and advertising and other operating expense of $107,000, $25,000 and $5,000, respectively. These increases were partially offset by a $19,000 decrease in occupancy and equipment expense and a $1,000 decrease in FDIC insurance premiums.

The increases in salary and other benefits expense increased primarily due to cost of living and merit increases, as well as increased cost of company paid insurance benefits and expenses related to stock options issued to certain employees in December 2014. Data processing expense increased due to incremental costs related to the number of accounts. Increases in advertising and other operating expenses were primarily a result of increased marketing efforts and expenses related to foreclosure and losses on the sale of other real estate owned. The decrease in occupancy and equipment expense was primarily due to lower levels of depreciation on computer hardware and software.

Income Tax Expense. The Company had income tax expense of $387,000 for the three month period ended June 30, 2015 as compared to $367,000 for the same period in 2014. The increase in income tax expense was due primarily to the increase in taxable income period over period.

Total Comprehensive Income. Total comprehensive income for the periods presented consists of net income and the change in unrealized gains on securities available for sale, net of tax. Total comprehensive income was $551,000 for the three month period ended June 30, 2015 compared to total comprehensive income of $784,000 for the three month period ended June 30, 2014. The decrease was primarily a result of a reduction of $313,000 in unrealized gains and losses on securities available for sale, net of tax, partially offset by an increase in net income period over period of $80,000.

Results of Operations for the Six Months Ended June 30, 2015 and 2014

Overview. The Company reported net income of $1.3 million, or $0.81 basic earnings per share, for the six-month period ended June 30, 2015, compared to net income of $1.3 million, or $0.79 basic earnings per share, for the same period in 2014.

Net Interest Income. Net interest income after provision for loan losses increased $88,000, or 1.5%, to $6.0 million for the six months ended June 30, 2015 compared to the same period in 2014.

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Total interest income increased $85,000, or 1.2%, from $6.9 million for the six months ended June 30, 2014 to $6.9 million for the six months ended June 30, 2015. The increase was primarily the result of a $60,000 and $38,000 increase in interest on loans and dividends, respectively, partially offset by a decrease of $13,000 on securities and interest bearing deposits in other banks. The increase in interest on loans was due primarily to an increase in the average outstanding balances of loans, partially offset by a decrease in market interest rates. The increase in dividends was primarily due to dividends received on the Bank’s limited partnership investment in Tenth Street Fund. The decrease in interest on securities and interest-bearing deposits in other banks was due to decreases in the average balances, period over period.

Total interest expense decreased $152,000, or 16.3%, from $930,000 for the six months ended June 30, 2014 to $778,000 for the six months ended June 30, 2015. The decrease was primarily a result of a $156,000 decrease in interest on deposits, partially offset by a $4,000 increase in interest on Federal Home Loan Bank advances. The primary reason for the decrease in interest on deposits was a reduction in market interest rates.

Provision for Loan Losses. The provision for loan losses was $202,000 for the six months ended June 30, 2015 compared to $53,000 for the same period in 2014.

Non-performing loans decreased $843,000 from $2.2 million at December 31, 2014 to $1.3 million at June 30, 2015. Non-performing residential mortgage loans, commercial real estate and multifamily loans, construction and land loans and consumer and other loans decreased $370,000, $5,000, $355,000 and $113,000, respectively. The decrease in residential mortgage loans is primarily due to the foreclosure of one residential mortgage loans secured by a 1-4 family residence in Athens, Tennessee. The decrease in construction and land loans was primarily due to the foreclosure of two loans secured by land with subsequent sale of the properties. The balance of non-performing loans at June 30, 2015 includes nonaccrual loans of $1.3 million. No residential mortgage loans were over 90 days past due but still accruing interest at June 30, 2015. The balance of nonaccrual loans at June 30, 2015 consists of $995,000 in residential mortgage loans, $81,000 in construction and land loans, $170,000 in commercial real estate and multifamily and $81,000 in consumer loans.

Net charge-offs were $229,000 for the six months ended June 30, 2015 compared to $532,000 for the same period in 2014. Charge-offs totaling $277,000 were recorded during the six months ended June 30, 2015 in connection with residential mortgage loans ($29,000), construction and land loans ($164,000), and consumer loans ($84,000).

The allowance for loan losses was $3.9 million at June 30, 2015. Management has deemed this amount as adequate at that date based on its best estimate of probable known and inherent loan losses at that date.

Non-interest Income. Non-interest income increased $213,000, or 8.5%, to $2.7 million for the six months ended June 30, 2015 compared to $2.5 million for the same period in 2014, primarily due to increases in fees related to the origination, sale and servicing of mortgage loans on the secondary market, income from Valley Title Services, LLC and deposit related fees of $161,000, $88,000 and $25,000, respectively. These increases were partially offset by a decreases income related to investment sales commissions of $31,000 and a decrease in consumer and commercial loan servicing and origination fees of $26,000. All other non-interest income decreased $4,000, net.

The increase in fees related to the origination, sale and servicing of mortgage loans on the secondary market and income from Valley Title Services, LLC is primarily due to increased volume of mortgage loans during the six months ended June 30, 2015 as compared to the same period in 2014. The increased volume is primarily a result of stable market rates period over period and a general increase in the economy. Deposit related fees increased primarily due to income from debit card usage, which has been actively promoted by the Bank as an alternative to writing checks. The decrease in income related to investment sales commission was primarily due to a slight decrease in the sales of investment products during the first six months of 2015 as compared to the same period in 2014. The decrease in consumer and commercial loan servicing and origination fees is primarily a result of consumer loan specials offered during the period with reduced origination fees to promote an increase in originations in a competitive market.

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Non-interest Expense. Non-interest expense increased $328,000, or 5.2%, to $6.7 million for the six months ended June 30, 2015 compared to $6.3 million for the same period in 2014. The primary factors effecting the change were increases in salary and employee benefits expense, advertising and other operating expense, data processing expense and federal deposit insurance premiums of $198,000, $119,000, $52,000 and $4,000, respectively. These increases were partially offset by a $45,000 reduction in occupancy and equipment expenses.

The increases in salary and other benefits expense increased primarily due to cost of living and merit increases, as well as increased cost of company paid insurance benefits and expenses related to stock options issued to certain employees in December 2014. Data processing expense increased due to incremental costs related to the number of accounts and increased cost of processing debit card transactions due to an increase in volume. Advertising and other operating expenses were primarily a result of increased marketing efforts and expenses related to foreclosure and loss on sale of other real estate owned. The decrease in occupancy and equipment expense was primarily due to lower levels of depreciation on computer hardware and software.

Income Tax Expense. The Company had an income tax expense of $665,000 for the six month period ended June 30, 2015 as compared to $703,000 for the same period in 2014. The decrease in income tax expense was due primarily to the decrease in taxable income period over period.

Total Comprehensive Income. Total comprehensive income for the periods presented consists of net income and the change in unrealized gains (losses) on securities available for sale, net of tax. Total comprehensive income was $1.2 million for the six-month period ended June 30, 2015 compared to total comprehensive income of $1.6 million for the six-month period ended June 30, 2014. The decrease was primarily a result of a change of $365,000 in unrealized gains and losses on securities available for sale, net of tax and an increase in net income period over period of $11,000.

Liquidity and Capital Resources

Liquidity Management. Liquidity is the ability to meet current and future financial obligations of a short-term nature. The Bank’s primary sources of funds consist of deposit inflows, loan repayments, maturities and sales of investment securities and borrowings from the Federal Home Loan Bank of Cincinnati. While maturities and scheduled amortization of loans and securities are predictable sources of funds, deposit flows and mortgage prepayments are greatly influenced by general interest rates, economic conditions and competition.

The Bank regularly adjusts its investments in liquid assets based upon an assessment of (i) expected loan demand, (ii) expected deposit flows, (iii) yields available on interest-earning deposits and securities and (iv) the objectives of its asset/liability management policy.

The Bank’s most liquid assets are cash and cash equivalents and interest-bearing deposits. The level of these assets depends on the Bank’s operating, financing, lending and investing activities during any given period. At June 30, 2015, cash and cash equivalents totaled $8.8 million. At June 30, 2015, un-pledged securities classified as available-for-sale, which amounted to $25.3 million, provide an additional source of liquidity. In addition, at June 30, 2015, the Bank had the ability to borrow a total of approximately $32.7 million from the Federal Home Loan Bank of Cincinnati. At June 30, 2015, the Bank had $26.7 million in letters of credit with the Federal Home Loan Bank to secure public funds deposits.

The Bank must maintain an adequate level of liquidity to ensure the availability of sufficient funds to support loan growth and deposit withdrawals, to satisfy financial commitments and to take advantage of investment opportunities. Historically, the Bank has been able to retain a significant amount of its deposits as they mature.

The Company is a separate legal entity from the Bank and must provide for its own liquidity. In addition to its operating expenses, the Company, on a stand-alone basis, is responsible for paying any dividends declared to its shareholders. The Company also seeks liquidity to fund any repurchases of its common stock. The Company’s primary source of income is dividends received from the Bank. The amount of dividends that the Bank may declare and pay to the Company in any calendar year, without the receipt of prior approval from the Office of the Comptroller of the Currency but with prior notice to the Office of the Comptroller of the Currency, cannot exceed net income for that year to date plus retained net income (as defined) for the preceding two calendar years. On a stand-alone basis, the Company had liquid assets of $4.7 million at June 30, 2015.

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Capital Management. The Bank is required to maintain specific amounts of capital pursuant to federal regulatory requirements. As of June 30, 2015, the Bank was in compliance with all regulatory capital requirements, which were effective as of such date, with common equity tier 1, tier 1 risk-based capital, total risk-based capital, and leverage ratios of 16.0%, 16.0 %, 17.3%, and 11.9%, respectively. The regulatory requirements at that date were 4.5%, 6.0%, 8.0%, and 4.0%, respectively. At June 30, 2015, the Bank was considered “well-capitalized” under applicable regulatory guidelines.

Dividends. The Board of Directors of the Company declared and paid dividends on the Company’s common stock of $165,000 during the six months ended June 30, 2015. The dividend payout ratio for the first six months of 2015, representing dividends per share divided by diluted earnings per share, was 13.3%. The dividend payout is continually reviewed by management and the Board of Directors.

Off-Balance Sheet Arrangements

In the normal course of operations, we engage in a variety of financial transactions that, in accordance with generally accepted accounting principles are not recorded in our financial statements. These transactions involve, to varying degrees, elements of credit, interest rate and liquidity risk. Such transactions are used primarily to manage customers’ requests for funding and take the form of loan commitments, unused lines of credit and letters of credit.

For the six months ended June 30, 2015, the Company did not engage in any off-balance sheet transactions reasonably likely to have a material effect on the Company’s financial condition, results of operations or cash flows.

Item 3. Quantitative and Qualitative Disclosure About Market Risk

Qualitative Aspects of Market Risk

We manage the interest rate sensitivity of our interest-bearing liabilities and interest-earning assets in an effort to minimize the adverse effects of changes in the interest rate environment. Deposit accounts typically react more quickly to changes in market interest rates than mortgage loans because of the shorter maturities of deposits. To reduce the potential volatility of our earnings, we have sought to improve the match between asset and liability maturities and rates, while maintaining an acceptable interest rate spread. Our strategy for managing interest rate risk emphasizes: adjusting the maturities of borrowings; adjusting the investment portfolio mix and duration and generally selling in the secondary market substantially all newly originated fixed rate one-to-four-family residential real estate loans. We currently do not participate in hedging programs, interest rate swaps or other activities involving the use of derivative financial instruments.

We have an Asset/Liability Management Committee (“ALCO”), which includes members of management selected by the board of directors, to communicate, coordinate and control all aspects involving asset/liability management. The committee establishes and monitors the volume, maturities, pricing and mix of assets and funding sources with the objective of managing assets and funding sources to provide results that are consistent with liquidity, growth, risk limits and profitability goals.

Our goal is to manage asset and liability positions to moderate the effects of interest rate fluctuations on net interest margin and net interest income. Measurements which we use to help us manage interest rate sensitivity include earnings at risk simulation model and economic value of equity model.

Rate sensitivity/Earnings at Risk – The goal is to achieve a strong acceptable and consistent level of earnings over time. The ALCO has established risk tolerances for changes in net interest income from a base case of no change in interest rates to simulate changes in net interest income from rate shocks over a one-year period.

The established risk limits for changes both up and down in rates from the base case, limits in the decline in net interest income are for a 400bp change should not result in a decrease of more than 20%, a 300bp change should not result in a decrease of more than 15%, a 200bp change should not result in a decrease of more than 10% and a 100bp change should not result in a decrease of more than 5%.

33

Economic Value of Equity (“EVE”) identifies changes in the market value of capital based on exposure to interest rate risk resulting from a change in market value of the bank’s assets and liabilities due to changes in interest rates. The change in value is prepared by discounting the projected cash flows of all balance sheet categories.

The EVE is the difference between the present values of assets and liabilities. The measured change of this economic value, over a range of rate shocks indicates the degree of possible long-term exposure to future earnings. The bank’s EVE risk tolerance limits are that for a 400bp change in interest rates up or down, the EVE should not decrease by more than 25% from the base case; for a 300bp change in interest rates up or down, the EVE should not decrease by more than 20%; for a 200pb change in interest rates up or down the EVE should not decrease by more than 15%; and for a 100bp change in interest rates up or down the EVE should not decrease by more than 10%.

Our model results indicated that we were in compliance with the policies noted above and that our balance sheet is liability-sensitive. Liability-sensitive implies that our liabilities will reprice faster than our assets indicating an increase in interest rates would decrease our net interest margin. We continue to seek opportunities to decrease our cost of funding by reducing the level of funding provided by certificates of deposit and reducing rates as current certificates mature.

Each of the above analyses may not, on its own, be an accurate indicator of how our net interest income will be affected by changes in interest rates. These assumptions relate to interest rates, loan prepayment rates, deposit decay rates and the market values of certain assets under differing interest rate scenarios, among others. As with any method of measuring interest rate risk, certain shortcomings are inherent in the methods of analysis presented in the foregoing tables. For example, although certain assets and liabilities may have similar maturities or periods to repricing, they may react in different degrees to changes in market interest rates. Also, the interest rates on certain types of assets and liabilities may fluctuate in advance of changes in market interest rates, while interest rates on other types may lag behind changes in market rates. Additionally, certain assets, such as adjustable-rate mortgage loans, have features that restrict changes in interest rates on a short-term basis and over the life of the asset. Further, if there is a change in interest rates, expected rates of prepayments on loans and early withdrawals from certificates could deviate significantly from those assumed. Prepayment rates can have a significant impact on interest income. Because of the large percentage of loans and mortgage-backed securities we hold, rising or falling interest rates have a significant impact on the prepayment speeds of our earning assets that in turn affect the rate sensitivity position. When interest rates rise, prepayments tend to slow. When interest rates fall, prepayments tend to rise. Our liability sensitivity would be increased if prepayments slow and vice versa. While we believe these assumptions to be reasonable, there can be no assurance that assumed prepayment rates will approximate actual future mortgage-backed security and loan repayment activity.

Item 4. Controls and Procedures

The Company’s management, including the Company’s principal executive officer and principal financial officer, have evaluated the effectiveness of the Company’s “disclosure controls and procedures,” as such term is defined in Rule 13a-15(e) promulgated under the Securities Exchange Act of 1934, as amended, (the “Exchange Act”). Based upon their evaluation, the principal executive officer and principal financial officer concluded that, as of the end of the period covered by this report, the Company’s disclosure controls and procedures were effective for the purpose of ensuring that the information required to be disclosed in the reports that the Company files or submits under the Exchange Act with the Securities and Exchange Commission (the “SEC”) (1) is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and (2) is accumulated and communicated to the Company’s management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure. In addition, based on that evaluation, no change in the Company’s internal control over financial reporting occurred during the quarter ended June 30, 2015 that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

34

PART II. OTHER INFORMATION

Item 1. Legal Proceedings

The Company is not involved in any pending legal proceedings other than routine legal proceedings occurring in the ordinary course of business. The Company’s management believes that such routine legal proceedings, in the aggregate, are immaterial to the Bank’s financial condition and results of operations.

Item 1A. Risk Factors

For information regarding the Company’s risk factors, see “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014, filed with the Securities and Exchange Commission on March 13, 2015. As of June 30, 2015, the risk factors of the Company have not changed materially from those disclosed in the Form 10-K.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

Since the Company completed its initial public offering in January 2010, the Company’s board of directors has authorized seven stock repurchase programs for an aggregate of 1,032,207 shares. All of the repurchase programs have been publicly announced. As of June 30, 2015, the Company had repurchased an aggregate of 974,862 shares under these programs.

Under each repurchase program, repurchases were or will be conducted through open market purchases, which may include purchases under a trading plan adopted pursuant to SEC Rule 10b5-1, or through privately negotiated transactions. Repurchases will be made from time to time, depending on market conditions and other factors. There is no guarantee as to the exact number of shares to be repurchased by the Company.

The following table provides information with respect to purchases made by or on behalf of the Company or any “affiliated purchaser” (as defined in Rule 10b-18(a)(3) under the Securities Exchange Act of 1934), of the Company’s common stock during the second quarter of 2015.

Period	Total Number of Shares Purchased		Average Price Paid Per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs		Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs
April 1 through April 30, 2015		—	$	—		—		57,345
May 1 through May 31, 2015		—		—		—		57,345
June 1 through June 30, 2015		—		—		—		57,345
Total		—	$	—		—		57,345

Item 3. Defaults Upon Senior Securities

Not applicable.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information.

Not applicable.

35

Item 6. Exhibits

No.	Description
3.1	Amended and Restated Charter of Athens Bancshares Corporation (1)
3.2	Amended and Restated Bylaws of Athens Bancshares Corporation (2)
4.1	Specimen Stock Certificate of Athens Bancshares Corporation (3)
10.1	Employment Agreement between Athens Federal Community Bank and Jeffrey L. Cunningham* (4)
10.2	Employment Agreement between Athens Federal Community Bank and Michael R. Hutsell* (4)
10.3	Employment Agreement between Athens Federal Community Bank and Jay Leggett, Jr*(4)
10.4	Employment Agreement between Athens Bancshares Corporation and Jeffrey L. Cunningham* (4)
10.5	Employment Agreement between Athens Bancshares Corporation and Michael R. Hutsell* (4)
10.6	Supplemental Executive Retirement Plan Agreement between Athens Federal Community Bank and Jeffrey L. Cunningham* (5)
10.7	Supplemental Executive Retirement Plan Agreement between Athens Federal Community Bank and Michael R. Hutsell*(6)
10.8	Supplemental Executive Retirement Plan Agreement between Athens Federal Community Bank and Jay Leggett, Jr*(6)
10.9	Athens Bancshares Corporation 2010 Equity Incentive Plan (7)
31.1	Rule 13a-14(a)/15d-14(a) Certificate of Chief Executive Officer
31.2	Rule 13a-14(a)/15d-14(a) Certificate of Chief Financial Officer
32.0	Section 1350 Certificate of Chief Executive Officer and Chief Financial Officer
101.0	The following materials from the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2015, formatted in XBRL (Extensible Business Reporting Language): (i) the Consolidated Balance Sheets, (ii) the Consolidated Statements of Comprehensive Income, (iii) the Consolidated Statements of Income, (iv) the Consolidated Statement of Changes in Stockholders’ Equity (v) the Consolidated Statements of Cash Flows and (vi) the Notes to the Consolidated Financial Statements.

* Management contract or compensatory plan, contract or arrangement

(1) Incorporated herein by reference to the exhibit to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 10, 2009.

(2) Incorporated herein by reference to the exhibit to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on November 23, 2009.

(3) Incorporated herein by reference to the exhibits to the Company’s Registration Statement on Form S-1 (File No. 333-144454), as amended, initially filed with the Securities and Exchange Commission on September 17, 2009.

(4) Incorporated herein by reference to the exhibits to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on January 23, 2015.

(5) Incorporated herein by reference to the exhibits of the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on April 6, 2010.

(6) Incorporated herein by reference to the Company’s Definitive Proxy Statement filed with the Securities and Exchange Commission on June 7, 2010.

(7) Incorporated herein by reference to the Company’s Definitive Proxy Statement filed with the Securities and Exchange Commission on June 7, 2010.

36

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

		ATHENS BANCSHARES CORPORATION
Dated: August 7, 2015	By:	/s/ Jeffrey L. Cunningham
		Jeffrey L. Cunningham
		President and Chief Executive Officer
		(principal executive officer)
Dated: August 7, 2015	By:	/s/ Michael R. Hutsell
		Michael R. Hutsell
		Treasurer and Chief Financial Officer
		(principal accounting and financial officer)

37

EX-31.1

Exhibit 31.1

Certification

I, Jeffrey L. Cunningham, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Athens Bancshares Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and in preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report, based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated: August 7, 2015	/s/ Jeffrey L. Cunningham
	Jeffrey L. Cunningham
	President and Chief Executive Officer
	(principal executive officer)

EX-31.2

Exhibit 31.2

Certification

I, Michael R. Hutsell, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Athens Bancshares Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and in preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report, based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Dated: August 7, 2015	/s/ Michael R. Hutsell
	Michael R. Hutsell
	Treasurer and Chief Financial Officer
	(principal accounting and financial officer)

EX-32.0

Exhibit 32.0

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q of Athens Bancshares Corporation (the “Company”) for the quarter ended June 30, 2015, as filed with the Securities and Exchange Commission (the “Report”), I hereby certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. The information contained in the Report fairly presents, in all material respects, the consolidated financial condition and results of operations of the Company as of and for the period covered by the Report.

By:	/s/ Jeffrey L. Cunningham
	Jeffrey L. Cunningham
	President and Chief Executive Officer
	(principal executive officer)
	August 7, 2015
By:	/s/ Michael R. Hutsell
	Michael R. Hutsell
	Treasurer and Chief Financial Officer
	(principal financial and accounting officer)
	August 7, 2015

XML

Loans and Allowances for Loan Losses - Financial Receivable Modifications Subsequent Default (Detail)	6 Months Ended
	Jun. 30, 2015 USD ($) SecurityLoan	Jun. 30, 2014 USD ($) SecurityLoan
Financing Receivable, Modifications [Line Items]
Number Of Loans, Subsequent Default	2	2
Outstanding Recorded Investment at Default | $		$ 11,258
Consumer and Other [Member]
Financing Receivable, Modifications [Line Items]
Number Of Loans, Subsequent Default	2	2
Outstanding Recorded Investment at Default | $	$ 10,684	$ 11,258

XML

Stock Options, ESOP, and Restricted Shares - Non-Vested Options (Detail) - 6 months ended Jun. 30, 2015 - $ / shares	Total
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Non-vested options, Number of Shares, Beginning Balance	88,875
Granted, Number of Shares	0
Vested, Number of Shares	0
Forfeited, Number of Shares	0
Non-vested options, Number of Shares, Ending Balance	88,875
Non-vested options, Weighted Average Grant Date Fair Value, Beginning Balance	$ 3.29
Granted, Weighted Average Grant Date Fair Value	0
Vested, Weighted Average Grant Date Fair Value	0
Forfeited, Weighted Average Grant Date Fair Value	0
Non-vested options, Weighted Average Grant Date Fair Value, Ending Balance	$ 3.29

XML

Stock Options, ESOP, and Restricted Shares - Summary of Activity in the 2010 Plan (Detail) - Jun. 30, 2015 - USD ($)	Total
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Non-vested options, Number of Shares, Beginning Balance	270,584
Granted, Shares	0
Exercised, Shares	20,829
Forfeited, Shares	0
Non-vested options, Number of Shares, Ending Balance	249,755
Options exercisable, Shares	160,880
Average Exercise Price, Beginning Balance	$ 13.60
Average Exercise Price, options exercised	11.50
Average Exercise Price, Ending Balance	13.78
Options exercisable, Average Exercise Price	$ 11.50
Aggregate Intrinsic Value, Ending Balance	$ 3,801,179
Options exercisable, Aggregate Intrinsic Value	$ 2,815,393

XML

Loans and Allowances for Loan Losses - Changes in the Allowance for Loan Losses by Class of Loan (Detail) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	$ 3,914,848	$ 4,432,069
Provision (reallocation) for loan losses	201,813	109,621
Loans charged-off	(277,599)	(696,602)
Recoveries	48,471	69,760
Ending balance	3,887,533	3,914,848
Commercial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	312,887	331,938
Provision (reallocation) for loan losses	10,579	(10,828)
Loans charged-off		(8,223)
Ending balance	323,466	312,887
Residential 1-4 Family [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	1,111,089	1,442,506
Provision (reallocation) for loan losses	26,414	(291,330)
Loans charged-off	(29,031)	(43,999)
Recoveries	15,091	3,912
Ending balance	1,123,563	1,111,089
Commercial Real Estate and Multi-Family [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	1,234,696	1,108,958
Provision (reallocation) for loan losses	62,038	364,436
Loans charged-off	(236)	(238,698)
Ending balance	1,296,498	1,234,696
Construction and Land [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	624,050	956,726
Provision (reallocation) for loan losses	123,715	(156,990)
Loans charged-off	(164,135)	(175,686)
Ending balance	583,630	624,050
Consumer and Other [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	500,577	530,557
Provision (reallocation) for loan losses	109,660	134,168
Loans charged-off	(84,197)	(229,996)
Recoveries	33,380	65,848
Ending balance	559,420	500,577
Unallocated [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning balance	131,549	61,384
Provision (reallocation) for loan losses	(130,593)	70,165
Ending balance	$ 956	$ 131,549

XML

Securities - Amortized Cost and Estimated Fair Value of Securities Classified as Available for Sale and Held to Maturity (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Securities Available for Sale, Amortized Cost	$ 26,876,876	$ 28,227,237
Securities Available for Sale, Gross Unrealized Gains	466,535	607,420
Securities Available for Sale, Gross Unrealized Losses	(86,106)	(62,903)
Securities Available for Sale, Total, Fair Value	27,257,305	28,771,754
Securities of U.S. Government Agencies and Corporations [Member]
Schedule of Available-for-sale Securities [Line Items]
Securities Available for Sale, Amortized Cost	2,599,925	2,641,393
Securities Available for Sale, Gross Unrealized Gains	18,995	9,564
Securities Available for Sale, Gross Unrealized Losses	(17,309)	(21,103)
Securities Available for Sale, Total, Fair Value	2,601,611	2,629,854
Mortgage-Backed and Related Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Securities Available for Sale, Amortized Cost	11,548,721	12,835,109
Securities Available for Sale, Gross Unrealized Gains	188,625	204,492
Securities Available for Sale, Gross Unrealized Losses	(19,586)	(2,478)
Securities Available for Sale, Total, Fair Value	11,717,760	13,037,123
State and Municipal Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Securities Available for Sale, Amortized Cost	12,728,230	12,750,735
Securities Available for Sale, Gross Unrealized Gains	258,915	393,364
Securities Available for Sale, Gross Unrealized Losses	(49,211)	(39,322)
Securities Available for Sale, Total, Fair Value	$ 12,937,934	$ 13,104,777

XML

Stock Options, ESOP, and Restricted Shares - ESOP Shares (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Employee Stock Ownership Plan (ESOP), Shares in ESOP [Abstract]
Allocated shares	74,060	74,060
Unallocated shares	148,120	148,120
Total ESOP shares	222,180	222,180
Fair value of unallocated shares	$ 4,295,480	$ 3,762,248

XML

Fair Value Disclosures - Assets and Liabilities for which a Nonrecurring Change in Fair Value was Recorded (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	$ 248,670,359	$ 239,013,615
Fair Value, Measurements, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	2,932,801	2,691,266
Foreclosed real estate	2,223,261	1,942,844
Fair Value, Measurements, Nonrecurring [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	1,217,570	966,265
Foreclosed real estate	2,223,261	1,942,844
Fair Value, Measurements, Nonrecurring [Member] | Significant Other Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans	$ 1,715,231	$ 1,725,001

XML

Loans and Allowances for Loan Losses - Modification of Loans as TDR (Detail) - 6 months ended Jun. 30, 2014	USD ($) SecurityLoan
Financing Receivable, Modifications [Line Items]
Number Of Loans | SecurityLoan	6
Pre-Modification Outstanding Recorded Investment	$ 10,921
Post-Modification Outstanding Recorded Investment	$ 10,921
Consumer and Other [Member]
Financing Receivable, Modifications [Line Items]
Number Of Loans | SecurityLoan	6
Pre-Modification Outstanding Recorded Investment	$ 10,921
Post-Modification Outstanding Recorded Investment	$ 10,921

XML

Stock Options, ESOP, and Restricted Shares - Information Regarding Options Outstanding and Exercisable (Detail) - $ / shares	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Options Outstanding, Number of Shares	249,755	270,584
Options Outstanding, Weighted-Average Exercise Price	$ 13.78	$ 13.60
Options Exercisable, Number of Shares	160,880
Exercise Price Range One [Member]
Exercise Price	$ 11.50
Options Outstanding, Number of Shares	208,092
Options Outstanding, Weighted-Average Exercise Price	$ 11.50
Options Outstanding, Weighted Average Remaining Contractual Life In Years	5 years 6 months
Options Exercisable, Number of Shares	160,880
Options Exercisable, Weighted-Average Exercise Price	$ 11.50
Exercise Price Range Two [Member]
Exercise Price	$ 25.17
Options Outstanding, Number of Shares	41,663
Options Outstanding, Weighted-Average Exercise Price	$ 25.17
Options Outstanding, Weighted Average Remaining Contractual Life In Years	9 years 6 months
Options Exercisable, Weighted-Average Exercise Price	$ 25.17

XML

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2015

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 1. Summary of Significant Accounting Policies

The accounting and reporting policies of Athens Bancshares Corporation (the “Company”) and subsidiary conform with United States generally accepted accounting principles (“GAAP”) and practices within the banking industry. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) are also sources of authoritative GAAP for SEC registrants.

The policies that materially affect financial condition and results of operations are summarized as follows:

Interim Financial Information (Unaudited)

The accompanying unaudited consolidated financial statements have been prepared in accordance with GAAP for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X as promulgated by the SEC. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring accruals) considered necessary for a fair presentation of the financial condition and results of operations for the periods presented have been included. Operating results for the three and six months ended June 30, 2015, are not necessarily indicative of the results that may be expected for the full year or in any other period. For further information, refer to the Company’s consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014.

The Company has evaluated events and transactions for potential recognition and disclosure through the date the financial statements were issued.

Nature of operations

The Company is a holding company whose principal activity is the ownership and management of its wholly owned subsidiary, Athens Federal Community Bank (the “Bank”). The Bank provides a variety of financial services to individuals and corporate customers through its seven branches located in Athens, Sweetwater, Etowah, Madisonville, and Cleveland, Tennessee. The Bank’s primary deposit products include checking, savings, certificates of deposit, and IRA accounts. Its primary lending products are one-to-four family residential, commercial real estate, and consumer loans. Southland Finance, Inc. (“Southland”) is a consumer finance company with one branch located in Athens, Tennessee. Ti-Serv, Inc. (“Ti-Serv”) maintains the Bank’s investment in Valley Title Services, LLC (“Valley Title”). Southland and Ti-Serv are wholly-owned subsidiaries of the Bank. Valley Title is a wholly-owned subsidiary of Ti-Serv.

Use of estimates

The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, the valuation of deferred tax assets, other-than-temporary impairment of securities, and the fair value of financial instruments.

Recent Accounting Pronouncements

The Company has determined that all recently issued accounting pronouncements will not have a material impact on its consolidated financial statements or do not apply to its operations.

Earnings Per Common Share

Basic earnings per share are computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company.

The following is a summary of the basic and diluted earnings per share for the three months ended June 30, 2015 and 2014:

	Three Months Ended June 30,
	2015		2014
Numerator: Net income	$	749,277	$	669,573
Denominator: Weighted average common shares outstanding		1,651,191		1,642,295
Effect of dilutive stock options		130,610		110,031
Diluted shares		1,781,801		1,752,326
Basic earnings per share	$	0.45	$	0.41
Diluted earnings per share	$	0.42	$	0.38

The following is a summary of the basic and diluted earnings per share for the six months ended June 30, 2015 and 2014:

	Six Months Ended June 30,
	2015		2014
Numerator: Net income	$	1,341,203	$	1,329,931
Denominator: Weighted average common shares outstanding		1,650,501		1,675,591
Effect of dilutive stock options		127,425		104,832
Diluted shares	$	1,777,926	$	1,780,423
Basic earnings per share	$	0.81	$	0.79
Diluted earnings per share	$	0.75	$	0.75

Reclassifications

Certain amounts from prior period financial statements have been reclassified to conform to the current period’s presentation. The reclassifications had no effect on net income, total assets or stockholders’ equity as previously reported.

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Fair Value Disclosures - Significant Unobservable Inputs Used in Fair Value Measurements (Detail) - Jun. 30, 2015 - Impaired Loan [Member] - Significant Other Unobservable Inputs (Level 3) [Member] - Fair Value, Measurements, Nonrecurring [Member] - USD ($)	Total
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans, Carrying Amount	$ 1,715,231
Valuation Technique	Present Value
Significant Unobservable Input	Discounted Cash Flows
Weighted Average of Input	6.50%

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Investments, at Cost - Investments, at Cost Detailed (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Investments, All Other Investments [Abstract]
Federal Home Loan Bank of Cincinnati common stock	$ 2,549,000	$ 2,549,000
Tenth Street Fund III, L.P. investment	900,000	900,000
Total	$ 3,449,000	$ 3,449,000

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Securities - Summary of Securities with Gross Unrealized Losses, Aggregated by Investment Category (Detail) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months, Fair Value	$ 3,782	$ 986
Less than 12 Months, Gross Unrealized Losses	(47)	(2)
12 Months or Greater, Fair Value	2,144	4,126
12 Months or Greater, Gross Unrealized Losses	(39)	(61)
Fair Value, Total	5,926	5,112
Gross Unrealized Losses, Total	(86)	(63)
Securities of U.S. Government Agencies and Corporations [Member]
Schedule of Available-for-sale Securities [Line Items]
12 Months or Greater, Fair Value	983	979
12 Months or Greater, Gross Unrealized Losses	(17)	(21)
Fair Value, Total	983	979
Gross Unrealized Losses, Total	(17)	(21)
State and Municipal Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months, Fair Value	2,356
Less than 12 Months, Gross Unrealized Losses	(27)
12 Months or Greater, Fair Value	1,161	2,354
12 Months or Greater, Gross Unrealized Losses	(22)	(39)
Fair Value, Total	3,517	2,354
Gross Unrealized Losses, Total	(49)	(39)
Mortgage-Backed and Related Securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Less than 12 Months, Fair Value	1,426	986
Less than 12 Months, Gross Unrealized Losses	(20)	(2)
12 Months or Greater, Fair Value		793
12 Months or Greater, Gross Unrealized Losses		(1)
Fair Value, Total	1,426	1,779
Gross Unrealized Losses, Total	$ (20)	$ (3)

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Fair Value Disclosures - Carrying Amount and Estimated Fair Value of the Company's Financial Instruments (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014	Dec. 31, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and cash equivalents, Carrying Amount	$ 8,751,451	$ 11,925,541	$ 16,321,202	$ 15,135,387
Securities available for sale, Carrying Amount	27,257,305	28,771,754
Investments, at cost, Carrying Amount	3,449,000	3,449,000
Loans, net, Carrying Amount	248,260,422	238,558,389
Accrued interest receivable, Carrying Amount	932,414	1,007,115
Deposits, Carrying Amount	255,472,238	248,572,231
Securities sold under agreements to repurchase, Carrying Amount	1,032,223	1,512,993
Federal Home Loan Bank advances, Carrying Amount	3,000,000	5,000,000
Accrued interest payable, Carrying Amount	115,895	132,397
Cash and cash equivalents, Estimated Fair Value	8,751,451	11,925,541
Securities available for sale, Estimated Fair Value	27,257,305	28,771,754
Investments, at cost, Estimated Fair Value	3,449,000	3,449,000
Loans, net, Estimated Fair Value	248,670,359	239,013,615
Accrued interest receivable, Estimated Fair Value	932,414	1,007,115
Deposits, Estimated Fair Value	257,813,765	252,393,127
Securities sold under agreements to repurchase, Estimated Fair Value	1,032,223	1,512,993
Federal Home Loan Bank advances, Estimated Fair Value	3,000,000	5,000,112
Accrued interest payable, Estimated Fair Value	115,895	132,397
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commitments to extend credit	0	0
Letter of credit	0	0
Lines of credit	0	0
Estimated Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Commitments to extend credit	0	0
Letter of credit	0	0
Lines of credit	$ 0	$ 0

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Loans and Allowances for Loan Losses - Company's Loans (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans on real estate	$ 209,603,949	$ 204,170,599
Total loans	253,039,596	243,232,574
Less: Allowance for loan losses	(3,887,533)	(3,914,848)	$ (4,432,069)
Unearned interest and fees	(411,363)	(363,622)
Net deferred loan origination fees	(480,278)	(395,715)
Loans, net	248,260,422	238,558,389
Residential 1-4 Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans on real estate	92,677,662	89,126,412
Total loans	92,677,662	89,126,412
Less: Allowance for loan losses	(1,123,563)	(1,111,089)	(1,442,506)
Commercial Real Estate and Multi-Family [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans on real estate	96,318,570	87,742,414
Total loans	96,318,570	87,742,414
Less: Allowance for loan losses	(1,296,498)	(1,234,696)	(1,108,958)
Construction and Land [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Mortgage loans on real estate	20,607,717	27,301,773
Total loans	20,607,717	27,301,773
Less: Allowance for loan losses	(583,630)	(624,050)	(956,726)
Commercial [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	15,614,752	14,363,545
Less: Allowance for loan losses	(323,466)	(312,887)	(331,938)
Consumer and Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	27,820,895	24,698,430
Less: Allowance for loan losses	$ (559,420)	$ (500,577)	$ (530,557)

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Loans and Allowances for Loan Losses - Allowance for Loan Losses (Detail) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Allowance for Loan and Lease Losses [Roll Forward]
Beginning balance			$ 3,914,848	$ 4,432,069	$ 4,432,069
Provision for loan losses	$ 95,407	$ 26,890	201,813	$ 53,162	109,621
Loans charged-off			(277,599)		(696,602)
Recoveries			48,471		69,760
Ending balance	$ 3,887,533		$ 3,887,533		$ 3,914,848

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Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 1,341,203	$ 1,329,931
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	265,867	325,644
Amortization of securities and other assets	109,227	145,111
Provision for loan losses	201,813	53,162
Deferred income taxes	(122,791)	148,425
Other gains and losses, net	(32,873)	(55,466)
Stock compensation expense	196,085	175,214
Net change in:
Cash surrender value of life insurance, net	(134,118)	(140,911)
Accrued interest receivable	74,701	213,731
Accrued interest payable	(16,502)	(15,629)
Other assets and liabilities	554,092	(90,888)
Net cash provided by operating activities	2,436,704	2,088,324
Securities available for sale:
Purchases		(2,384,289)
Maturities, prepayments and calls	1,277,799	4,408,542
Sales		398,763
Proceeds from redemption of FHLB stock		349,800
Loan originations and principal collections, net	(11,139,486)	(6,262,750)
Purchases of premises and equipment	(393,047)	(49,742)
Proceeds from sale of foreclosed real estate	512,360	70,444
Net cash used in investing activities	(9,742,374)	(3,469,232)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase in deposits	6,900,008	4,772,246
Net decrease in securities sold under agreements to repurchase	(480,770)	(181,828)
Net decrease in FHLB advances	(2,000,000)
Repurchase and retirement of Company common stock	(122,800)	(1,855,088)
Dividends paid	(164,858)	(168,607)
Net cash provided by financing activities	4,131,580	2,566,723
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS	(3,174,090)	1,185,815
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	11,925,541	15,135,387
CASH AND CASH EQUIVALENTS, END OF PERIOD	8,751,451	16,321,202
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest paid on deposits and borrowed funds	794,300	945,227
Income taxes paid	1,034,770	817,366
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING ACTIVITIES:
Acquisition of real estate acquired through foreclosure	$ 820,640	1,272,056
Financed sales of foreclosed real estate		$ 374,000

XML

Loans and Allowances for Loan Losses - Allocation of the Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Dec. 31, 2013
Financing Receivable, Allowance for Credit Losses [Line Items]
Specified reserves-impaired loans	$ 493,933	$ 504,095
General reserves	3,393,600	3,410,753
Total reserves	3,887,533	3,914,848	$ 4,432,069
Impaired loans	5,513,382	6,958,516
Performing loans	247,526,214	236,274,058
Total loans	253,039,596	243,232,574
Commercial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Specified reserves-impaired loans	28,702	42,724
General reserves	294,764	270,163
Total reserves	323,466	312,887	331,938
Impaired loans	1,767,237	1,794,552
Performing loans	13,847,515	12,568,993
Total loans	15,614,752	14,363,545
Residential 1-4 Family [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Specified reserves-impaired loans	282,381	282,532
General reserves	841,182	828,557
Total reserves	1,123,563	1,111,089	1,442,506
Impaired loans	2,696,747	3,648,878
Performing loans	89,980,915	85,477,534
Total loans	92,677,662	89,126,412
Commercial Real Estate and Multi-Family [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Specified reserves-impaired loans	92,433	94,743
General reserves	1,204,065	1,139,953
Total reserves	1,296,498	1,234,696	1,108,958
Impaired loans	474,476	487,519
Performing loans	95,844,094	87,254,895
Total loans	96,318,570	87,742,414
Construction and Land [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Specified reserves-impaired loans	26,561	26,803
General reserves	557,069	597,247
Total reserves	583,630	624,050	956,726
Impaired loans	278,465	657,859
Performing loans	20,329,252	26,643,914
Total loans	20,607,717	27,301,773
Consumer and Other [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Specified reserves-impaired loans	63,856	57,293
General reserves	495,564	443,284
Total reserves	559,420	500,577	530,557
Impaired loans	296,457	369,708
Performing loans	27,524,438	24,328,722
Total loans	27,820,895	24,698,430
Unallocated [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
General reserves	956	131,549
Total reserves	$ 956	$ 131,549	$ 61,384

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Fair Value Disclosures - Recorded Amount of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Securities available for sale:
Securities available for sale	$ 27,257,305	$ 28,771,754
Securities of U.S. Government Agencies and Corporations [Member]
Securities available for sale:
Securities available for sale	2,601,611	2,629,854
Mortgage-Backed and Related Securities [Member]
Securities available for sale:
Securities available for sale	11,717,760	13,037,123
State and Municipal Securities [Member]
Securities available for sale:
Securities available for sale	12,937,934	13,104,777
Fair Value, Measurements, Recurring [Member]
Securities available for sale:
Securities available for sale	27,257,305	28,771,754
Fair Value, Measurements, Recurring [Member] | Securities of U.S. Government Agencies and Corporations [Member]
Securities available for sale:
Securities available for sale	2,601,611	2,629,854
Fair Value, Measurements, Recurring [Member] | Mortgage-Backed and Related Securities [Member]
Securities available for sale:
Securities available for sale	11,717,760	13,037,123
Fair Value, Measurements, Recurring [Member] | State and Municipal Securities [Member]
Securities available for sale:
Securities available for sale	12,937,934	13,104,777
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member]
Securities available for sale:
Securities available for sale	27,257,305	28,771,754
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Securities of U.S. Government Agencies and Corporations [Member]
Securities available for sale:
Securities available for sale	2,601,611	2,629,854
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | Mortgage-Backed and Related Securities [Member]
Securities available for sale:
Securities available for sale	11,717,760	13,037,123
Fair Value, Measurements, Recurring [Member] | Significant Other Observable Inputs (Level 2) [Member] | State and Municipal Securities [Member]
Securities available for sale:
Securities available for sale	$ 12,937,934	$ 13,104,777

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Consolidated Balance Sheets - USD ($)	Jun. 30, 2015	Dec. 31, 2014
ASSETS
Cash and due from banks	$ 6,735,473	$ 9,909,563
Interest-bearing deposits in banks	2,015,978	2,015,978
Total cash and cash equivalents	8,751,451	11,925,541
Securities available for sale	27,257,305	28,771,754
Investments, at cost	3,449,000	3,449,000
Loans, net of allowance for loan losses of $3,887,533 and $3,914,848 at June 30, 2015 and December 31, 2014, respectively	248,260,422	238,558,389
Premises and equipment, net	4,150,842	4,024,176
Accrued interest receivable	932,414	1,007,115
Cash surrender value of bank owned life insurance	10,230,309	10,096,191
Foreclosed real estate	2,223,261	1,942,844
Other assets	2,752,132	2,629,334
Total assets	308,007,136	302,404,344
Deposits:
Noninterest-bearing	26,783,455	23,978,164
Interest-bearing	228,688,783	224,594,067
Total deposits	255,472,238	248,572,231
Accrued interest payable	115,895	132,397
Securities sold under agreements to repurchase	1,032,223	1,512,993
Federal Home Loan Bank advances	3,000,000	5,000,000
Accrued expenses and other liabilities	4,559,003	4,506,841
Total liabilities	$ 264,179,359	$ 259,724,462
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Preferred stock, $0.01 par value; 10,000,000 shares authorized; none issued
Common stock, $0.01 par value; 50,000,000 shares authorized; 2,777,250 shares issued and 1,808,575 outstanding at June 30, 2015 and 1,801,701 outstanding at December 31, 2014	$ 18,086	$ 18,017
Additional paid-in capital	17,974,118	17,956,982
Common stock acquired by benefit plans:
Restricted stock	(223,183)	(354,313)
Unallocated common stock held by Employee Stock Ownership Plan Trust	(1,481,200)	(1,481,200)
Retained earnings	27,304,090	26,202,795
Accumulated other comprehensive income (loss)	235,866	337,601
Total stockholders' equity	43,827,777	42,679,882
Total liabilities and stockholders' equity	$ 308,007,136	$ 302,404,344

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Stock Options, ESOP, and Restricted Shares - Additional Information (Detail) - USD ($)			6 Months Ended
	Dec. 19, 2012	Jan. 19, 2011	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for all options from the date of grant			5 years
Share awarded of restricted stock to its officers and employees pursuant to the terms of the 2010 Plan			2,777,250
Number of shares purchased under the Employee Stock Ownership Plan "ESOP"			222,180		222,180
Percentage of shares purchased from the number of shares issued under the Employee Stock Ownership Plan "ESOP"			8.00%
Tenure of loan			15 years
Interest percentage on Term Loan			3.25%
Number of years for participants to become vested in the allocated shares			4 years
Total compensation expense			$ 0	$ 0
Non-Vested Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares authorized to issue under 2010 Equity Incentive Plan			277,725
Maximum term of each option			10 years
Compensation expense recognized attributable to the shares that have been awarded			$ 47,947	27,075
Total remaining compensation cost to be recognized on non-vested options			$ 201,381
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares authorized to issue under 2010 Equity Incentive Plan			111,090
Compensation expense recognized attributable to the shares that have been awarded			$ 148,139	$ 148,139
Share awarded of restricted stock to its officers and employees pursuant to the terms of the 2010 Plan	16,664	94,426	0
Shares awarded, Grant Date Weighted-Average Cost	$ 16.65	$ 12.75	$ 0
Total remaining compensation cost to be recognized on non-vested restricted stock			$ 500,000

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Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - 6 months ended Jun. 30, 2015 - USD ($)	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Common Stock Acquired By Benefit Plans [Member]	Accumulated Other Comprehensive Income [Member]
Beginning Balance at Dec. 31, 2014	$ 42,679,882	$ 18,017	$ 17,956,982	$ 26,202,795	$ (1,835,513)	$ 337,601
Beginning Balance, Shares at Dec. 31, 2014	1,801,701	1,801,701
Net income	$ 1,341,203			1,341,203
Other comprehensive loss	(101,735)					(101,735)
Dividends - $0.10 per share	(164,858)			(164,858)
Release of restricted stock plan shares			(131,130)		131,130
Stock compensation expense	196,085		196,085
Repurchase and retirement of Company common stock	(122,800)	$ (50)	(47,700)	(75,050)
Repurchase and retirement of Company common stock, Shares		(5,000)
Issuance of Company common stock		$ 119	(119)
Issuance of Company common stock, Shares		11,874
Ending Balance at Jun. 30, 2015	$ 43,827,777	$ 18,086	$ 17,974,118	$ 27,304,090	$ (1,704,383)	$ 235,866
Ending Balance, Shares at Jun. 30, 2015	1,808,575	1,808,575

XML

Loans and Allowances for Loan Losses - Aged Analysis of Past Due Loans (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	$ 1,930,298	$ 3,507,227
Current Loans	251,109,298	239,725,347
Total loans	253,039,596	243,232,574
Recorded Investment Greater than or equal to 90 Days Past Due and Accruing	12,928	12,335
Residential 1-4 Family [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	1,441,950	2,545,850
Current Loans	91,235,712	86,580,562
Total loans	92,677,662	89,126,412
Recorded Investment Greater than or equal to 90 Days Past Due and Accruing	0
Commercial Real Estate and Multi-Family [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	81,397	86,228
Current Loans	96,237,173	87,656,186
Total loans	96,318,570	87,742,414
Recorded Investment Greater than or equal to 90 Days Past Due and Accruing	0
Construction and Land [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	170,268	559,381
Current Loans	20,437,449	26,742,392
Total loans	20,607,717	27,301,773
Recorded Investment Greater than or equal to 90 Days Past Due and Accruing	0
Commercial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	34,021	14,448
Current Loans	15,580,731	14,349,097
Total loans	15,614,752	14,363,545
Recorded Investment Greater than or equal to 90 Days Past Due and Accruing	0
Consumer and Other [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	202,662	301,320
Current Loans	27,618,233	24,397,110
Total loans	27,820,895	24,698,430
Recorded Investment Greater than or equal to 90 Days Past Due and Accruing	12,928	12,335
30-89 Days Past Due [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	590,445	1,324,225
30-89 Days Past Due [Member] | Residential 1-4 Family [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	443,798	1,177,389
30-89 Days Past Due [Member] | Construction and Land [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due		33,790
30-89 Days Past Due [Member] | Commercial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	34,021	14,448
30-89 Days Past Due [Member] | Consumer and Other [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	112,626	98,598
90 Days or More Past Due and Non-Accrual [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	1,339,853	2,183,002
90 Days or More Past Due and Non-Accrual [Member] | Residential 1-4 Family [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	998,152	1,368,461
90 Days or More Past Due and Non-Accrual [Member] | Commercial Real Estate and Multi-Family [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	81,397	86,228
90 Days or More Past Due and Non-Accrual [Member] | Construction and Land [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	170,268	525,591
90 Days or More Past Due and Non-Accrual [Member] | Consumer and Other [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Total Past Due	$ 90,036	$ 202,722

XML

Stock Options, ESOP, and Restricted Shares (Tables)

6 Months Ended

Jun. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Activity in the 2010 Plan

A summary of the activity in the 2010 Plan for the six months ended June 30, 2015, is presented in the following table:

	Six Months Ended June 30, 2015
	Shares		Average Exercise Price		Aggregate Intrinsic Value (1)
Outstanding at December 31, 2014		270,584	$	13.60		—
Granted		—		N/A		—
Exercised		20,829	$	11.50		—
Forfeited		—		N/A		—
Outstanding at June 30, 2015		249,755	$	13.78	$	3,801,179
Options exercisable at June 30, 2015		160,880	$	11.50	$	2,815,393

(1) The aggregate intrinsic value of a stock option in the table above represents the total pre-tax intrinsic value (the amount by which the current market value of the underlying stock exceeds the exercise price of the option) that would have been received by the option holders had all option holders exercised their options on June 30, 2015. This amount changes based on changes in the market value of the Company’s stock.

Information Regarding Options Outstanding and Exercisable

Other information regarding options outstanding and exercisable as of June 30, 2015, is as follows:

	Options Outstanding						Options Exercisable
Exercise Price	Number of Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life In Years		Number of Shares		Weighted- Average Exercise Price
$11.50		208,092	$	11.50		5.50		160,880	$	11.50
$25.17		41,663	$	25.17		9.50		–		25.17

Non-Vested Options

Information pertaining to non-vested options for the six months ended June 30, 2015, is as follows:

	Number of Shares		Weighted Average Grant Date Fair Value
Non-vested options, December 31, 2014		88,875	$	3.29
Granted		—		—
Vested		—		—
Forfeited		—		—
Non-vested options, June 30, 2014		88,875	$	3.29

Summary of Activity for Unvested Restricted Awards

A summary of activity for unvested restricted awards for the six months ended June 30, 2015 is as follows:

	Number			Grant Date Weighted- Average Cost
Unvested at December 31, 2014		47,769		$	13.56
Shares awarded		—			—
Restrictions lapsed and shares released		(18,885	)		12.75
Shares forfeited		—			—
Unvested at June 30, 2015		28,884		$	14.10

ESOP Shares

A detail of ESOP shares is as follows:

	June 30, 2015		December 31, 2014
Allocated shares		74,060		74,060
Unallocated shares		148,120		148,120
Total ESOP shares		222,180		222,180
Fair value of unallocated shares	$	4,295,480	$	3,762,248

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Loans and Allowances for Loan Losses - Amount of Each Loan Classification and the Amount Categorized into Each Risk Rating Class (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Financing Receivable, Recorded Investment [Line Items]
Total	$ 253,039,596	$ 243,232,574
Residential 1-4 Family [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	92,677,662	89,126,412
Commercial Real Estate and Multi-Family [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	96,318,570	87,742,414
Construction and Land [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	20,607,717	27,301,773
Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	15,614,752	14,363,545
Consumer and Other [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	27,820,895	24,698,430
Pass [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	243,910,863	232,461,064
Pass [Member] | Residential 1-4 Family [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	88,253,626	83,606,922
Pass [Member] | Commercial Real Estate and Multi-Family [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	95,844,094	87,254,895
Pass [Member] | Construction and Land [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	18,709,287	24,981,671
Pass [Member] | Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	13,836,960	12,555,528
Pass [Member] | Consumer and Other [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	27,266,896	24,062,048
Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	3,615,351	3,812,994
Special Mention [Member] | Residential 1-4 Family [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	1,727,289	1,870,612
Special Mention [Member] | Construction and Land [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	1,619,965	1,662,243
Special Mention [Member] | Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	10,555	13,465
Special Mention [Member] | Consumer and Other [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	257,542	266,674
Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	5,513,382	6,958,516
Substandard [Member] | Residential 1-4 Family [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	2,696,747	3,648,878
Substandard [Member] | Commercial Real Estate and Multi-Family [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	474,476	487,519
Substandard [Member] | Construction and Land [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	278,465	657,859
Substandard [Member] | Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	1,767,237	1,794,552
Substandard [Member] | Consumer and Other [Member]
Financing Receivable, Recorded Investment [Line Items]
Total	$ 296,457	$ 369,708

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Summary of Significant Accounting Policies - Summary of the Basic and Diluted Earnings Per Share (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Numerator: Net income	$ 749,277	$ 669,573	$ 1,341,203	$ 1,329,931
Denominator: Weighted average common shares outstanding	1,651,191	1,642,295	1,650,501	1,675,591
Effect of dilutive stock options	130,610	110,031	127,425	104,832
Diluted shares	1,781,801	1,752,326	1,777,926	1,780,423
Basic earnings per share	$ 0.45	$ 0.41	$ 0.81	$ 0.79
Diluted earnings per share	$ 0.42	$ 0.38	$ 0.75	$ 0.75

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Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parenthetical) - $ / shares	6 Months Ended
	Jun. 30, 2015
Dividends per share	$ 0.10
Retained Earnings [Member]
Dividends per share	$ 0.1

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Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Allowance for loan losses	$ 3,887,533	$ 3,914,848
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	2,777,250	2,777,250
Common stock, shares outstanding	1,808,575	1,801,701

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Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2015

Accounting Policies [Abstract]

Summary of the Basic and Diluted Earnings Per Share

The following is a summary of the basic and diluted earnings per share for the three months ended June 30, 2015 and 2014:

	Three Months Ended June 30,
	2015		2014
Numerator: Net income	$	749,277	$	669,573
Denominator: Weighted average common shares outstanding		1,651,191		1,642,295
Effect of dilutive stock options		130,610		110,031
Diluted shares		1,781,801		1,752,326
Basic earnings per share	$	0.45	$	0.41
Diluted earnings per share	$	0.42	$	0.38

The following is a summary of the basic and diluted earnings per share for the six months ended June 30, 2015 and 2014:

	Six Months Ended June 30,
	2015		2014
Numerator: Net income	$	1,341,203	$	1,329,931
Denominator: Weighted average common shares outstanding		1,650,501		1,675,591
Effect of dilutive stock options		127,425		104,832
Diluted shares	$	1,777,926	$	1,780,423
Basic earnings per share	$	0.81	$	0.79
Diluted earnings per share	$	0.75	$	0.75

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Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 03, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2
Trading Symbol	AFCB
Entity Registrant Name	Athens Bancshares Corp
Entity Central Index Key	0001472093
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		1,808,575

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Securities (Tables)

6 Months Ended

Jun. 30, 2015

Investments, Debt and Equity Securities [Abstract]

Amortized Cost and Estimated Fair Value of Securities Classified as Available for Sale and Held to Maturity

The amortized cost and estimated fair value of securities classified as available for sale and held to maturity at June 30, 2015 and December 31, 2014 are as follows:

	June 30, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Securities of U.S. Government agencies and corporations	$	2,599,925	$	18,995	$	(17,309	)	$	2,601,611
Mortgage-backed and related securities (1)		11,548,721		188,625		(19,586	)		11,717,760
State and municipal securities		12,728,230		258,915		(49,211	)		12,937,934
	$	26,876,876	$	466,535	$	(86,106	)	$	27,257,305

	December 31, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Securities of U.S. Government agencies and corporations	$	2,641,393	$	9,564	$	(21,103	)	$	2,629,854
Mortgage-backed and related securities (1)		12,835,109		204,492		(2,478	)		13,037,123
State and municipal securities		12,750,735		393,364		(39,322	)		13,104,777
	$	28,227,237	$	607,420	$	(62,903	)	$	28,771,754

(1) Collateralized by residential mortgages and guaranteed by U.S. Government sponsored entities.

Amortized Cost and Estimated Fair Value of Securities, by Contractual Maturity

The amortized cost and estimated market value of securities at June 30, 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.

	June 30, 2015
	Securities Available for Sale
	Amortized Cost		Fair Value
Due in one year or less	$	87,373	$	88,188
Due after one year through five years		7,974,876		8,046,818
Due five years to ten years		6,106,110		6,246,843
Due after ten years		1,159,796		1,157,696
Mortgage-backed securities		11,548,721		11,717,760
Total	$	26,876,876	$	27,257,305

Summary of Securities with Gross Unrealized Losses, Aggregated by Investment Category

Securities with gross unrealized losses at June 30, 2015 and December 31, 2014, aggregated by investment category and length of time that individual securities have been in a continuous loss position, are as follows:

	June 30, 2015
	Less than 12 Months					12 Months or Greater							Total
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
	(dollars in thousands)
Securities Available for Sale:
Securities of U.S. Government agencies and corporations	$	—	$	—		$	983	$	(17	)	$	983	$	(17	)
State and municipal securities		2,356		(27	)		1,161		(22	)		3,517		(49	)
Mortgage-backed and related securities		1,426		(20	)		—		—			1,426		(20	)
	$	3,782	$	(47	)	$	2,144	$	(39	)	$	5,926	$	(86	)
	December 31, 2014
	Less than 12 Months					12 Months or Greater							Total
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
	(dollars in thousands)
Securities Available for Sale:
Securities of U.S. Government agencies and corporations	$	—	$	—		$	979	$	(21	)	$	979	$	(21	)
State and municipal securities		—		—			2,354		(39	)		2,354		(39	)
Mortgage-backed and related securities		986		(2	)		793		(1	)		1,779		(3	)
	$	986	$	(2	)	$	4,126	$	(61	)	$	5,112	$	(63	)

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Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Interest and dividend income:
Loans, including fees	$ 3,264,403	$ 3,185,420	$ 6,462,544	$ 6,402,401
Dividends	62,467	64,882	132,159	94,108
Securities and interest-bearing deposits in other banks	172,178	177,322	349,313	362,527
Total interest income	3,499,048	3,427,624	6,944,016	6,859,036
Interest expense:
Deposits	370,532	455,086	773,540	929,084
Fed funds purchased and securities sold under agreements to repurchase	205	215	534	514
Federal Home Loan Bank advances	1,979		3,724
Total interest expense	372,716	455,301	777,798	929,598
Net interest income	3,126,332	2,972,323	6,166,218	5,929,438
Provision for loan losses	95,407	26,890	201,813	53,162
Net interest income after provision for loan losses	3,030,925	2,945,433	5,964,405	5,876,276
Noninterest income:
Customer service fees	543,111	516,240	1,034,918	1,007,585
Other charges and fees	501,863	400,194	923,009	767,756
Investment sales commissions	123,187	133,039	279,914	310,394
Increase in cash surrender value of life insurance	84,663	86,948	168,452	173,014
Other noninterest income	151,700	137,925	308,800	243,723
Total noninterest income	1,404,524	1,274,346	2,715,093	2,502,472
Noninterest expenses:
Salaries and employee benefits	1,878,517	1,770,903	3,771,671	3,573,752
Occupancy and equipment	371,029	390,675	747,280	791,931
Federal deposit insurance premiums	47,000	48,000	95,000	91,000
Data processing	277,562	252,801	546,713	494,773
Advertising	59,058	51,409	121,476	95,470
Other operating expenses	666,491	669,005	1,391,492	1,298,629
Total noninterest expenses	3,299,657	3,182,793	6,673,632	6,345,555
Income before income taxes	1,135,792	1,036,986	2,005,866	2,033,193
Income tax expense	386,515	367,413	664,663	703,262
Net income	$ 749,277	$ 669,573	$ 1,341,203	$ 1,329,931
Earnings per common share
Basic	$ 0.45	$ 0.41	$ 0.81	$ 0.79
Diluted	0.42	0.38	0.75	0.75
Dividends per common share	$ 0.05	$ 0.05	$ 0.10	$ 0.10

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Loans and Allowances for Loan Losses

6 Months Ended

Jun. 30, 2015

Receivables [Abstract]

Loans and Allowances for Loan Losses

Note 4. Loans and Allowances for Loan Losses

The Bank and Southland provide mortgage, consumer, and commercial lending services to individuals and businesses primarily in the East Tennessee area.

The Company’s loans consist of the following at June 30, 2015 and December 31, 2014:

	June 30, 2015			December 31, 2014
Mortgage loans on real estate:
Residential 1-4 family	$	92,677,662		$	89,126,412
Commercial real estate and multi-family		96,318,570			87,742,414
Construction and land		20,607,717			27,301,773
		209,603,949			204,170,599
Commercial loans		15,614,752			14,363,545
Consumer and other		27,820,895			24,698,430
Total loans		253,039,596			243,232,574
Less: Allowance for loan losses		(3,887,533	)		(3,914,848	)
Unearned interest and fees		(411,363	)		(363,622	)
Net deferred loan origination fees		(480,278	)		(395,715	)
Loans, net	$	248,260,422		$	238,558,389

The following presents activity in the allowance for loan losses for the six months ended June 30, 2015 and the year ended December 31, 2014:

	June 30, 2015			December 31, 2014
Beginning balance	$	3,914,848		$	4,432,069
Provision for loan losses		201,813			109,621
Loans charged-off		(277,599	)		(696,602	)
Recoveries		48,471			69,760
Ending balance	$	3,887,533		$	3,914,848

Loan impairment and any related valuation allowance is determined under the provisions established by ASC Topic 310. For all periods presented, impaired loans without a valuation allowance represent loans for which management believes that the collateral value of the loan is higher than the carrying value of that loan.

The allocation of the allowance for loan losses and recorded investment in loans by portfolio segment are as follows:

	June 30, 2015
	Commercial		Residential 1-4 Family		Commercial Real Estate and Multi- Family		Construction and Land		Consumer and Other		Unallocated		Total
Specified reserves-impaired loans	$	28,702	$	282,381	$	92,433	$	26,561	$	63,856	$	—	$	493,933
General reserves		294,764		841,182		1,204,065		557,069		495,564		956		3,393,600
Total reserves	$	323,466	$	1,123,563	$	1,296,498	$	583,630	$	559,420	$	956	$	3,887,533
Impaired loans	$	1,767,237	$	2,696,747	$	474,476	$	278,465	$	296,457	$	—	$	5,513,382
Performing loans		13,847,515		89,980,915		95,844,094		20,329,252		27,524,438		—		247,526,214
Total	$	15,614,752	$	92,677,662	$	96,318,570	$	20,607,717	$	27,820,895	$	—	$	253,039,596
	December 31, 2014
	Commercial		Residential 1-4 Family		Commercial Real Estate and Multi- Family		Construction and Land		Consumer and Other		Unallocated		Total
Specified reserves-impaired loans	$	42,724	$	282,532	$	94,743	$	26,803	$	57,293	$	—	$	504,095
General reserves		270,163		828,557		1,139,953		597,247		443,284		131,549		3,410,753
Total reserves	$	312,887	$	1,111,089	$	1,234,696	$	624,050	$	500,577	$	131,549	$	3,914,848
Impaired loans	$	1,794,552	$	3,648,878	$	487,519	$	657,859	$	369,708	$	—	$	6,958,516
Performing loans		12,568,993		85,477,534		87,254,895		26,643,914		24,328,722		—		236,274,058
Total	$	14,363,545	$	89,126,412	$	87,742,414	$	27,301,773	$	24,698,430	$	—	$	243,232,574

The following table details the changes in the allowance for loan losses from December 31, 2013 to June 30, 2015 by class of loan:

	Commercial			Residential 1-4 Family			Commercial Real Estate and Multi- Family			Construction and Land			Consumer and Other			Unallocated			Total
Balance, December 31, 2013	$	331,938		$	1,442,506		$	1,108,958		$	956,726		$	530,557		$	61,384		$	4,432,069
Provision (reallocation) for loan losses		(10,828	)		(291,330	)		364,436			(156,990	)		134,168			70,165			109,621
Loans charged-off		(8,223	)		(43,999	)		(238,698	)		(175,686	)		(229,996	)		—			(696,602	)
Recoveries		—			3,912			—			—			65,848			—			69,760
Balance, December 31, 2014		312,887			1,111,089			1,234,696			624,050			500,577			131,549			3,914,848
Provision (reallocation) for loan losses		10,579			26,414			62,038			123,715			109,660			(130,593	)		201,813
Loans charged-off		—			(29,031	)		(236	)		(164,135	)		(84,197	)		—			(277,599	)
Recoveries		—			15,091			—			—			33,380			—			48,471
Balance, June 30, 2015	$	323,466		$	1,123,563		$	1,296,498		$	583,630		$	559,420		$	956		$	3,887,533

The following tables present loans individually evaluated for impairment by class of loans as of June 30, 2015 and December 31, 2014:

	June 30, 2015
	Commercial		Residential 1-4 Family		Commercial Real Estate and Multi- Family		Construction and Land		Consumer and Other		Total
Impaired loans:
Without a valuation allowance	$	17,325	$	1,602,298	$	221,095	$	202,575	$	43,355	$	2,086,648
With a valuation allowance		1,749,912		1,094,449		253,381		75,890		253,102		3,426,734
Recorded investment in impaired loans	$	1,767,237	$	2,696,747	$	474,476	$	278,465	$	296,457	$	5,513,382
Unpaid principal balance of impaired loans	$	1,807,084	$	3,088,774	$	474,476	$	803,622	$	296,616	$	6,470,572
Valuation allowance related to impaired loans	$	28,702	$	282,381	$	92,433	$	26,561	$	63,856	$	493,933
Average investment in impaired loans	$	1,781,694	$	2,691,760	$	479,832	$	309,922	$	306,742	$	5,569,950
Interest income recognized on impaired loans	$	45,485	$	60,191	$	13,033	$	5,526	$	3,811	$	128,046

	December 31, 2014
	Commercial		Residential 1-4 Family		Commercial Real Estate and Multi- Family		Construction and Land		Consumer and Other		Total
Impaired loans:
Without a valuation allowance	$	22,262	$	2,734,578	$	230,238	$	581,279	$	194,798	$	3,763,155
With a valuation allowance		1,772,290		914,300		257,281		76,580		174,910		3,195,361
Recorded investment in impaired loans	$	1,794,552	$	3,648,878	$	487,519	$	657,859	$	369,708	$	6,958,516
Unpaid principal balance of impaired loans	$	1,834,400	$	4,040,905	$	487,519	$	1,183,016	$	369,867	$	7,915,707
Valuation allowance related to impaired loans	$	42,724	$	282,532	$	94,743	$	26,803	$	57,293	$	504,095
Average investment in impaired loans	$	1,836,670	$	4,233,405	$	504,017	$	950,946	$	388,824	$	7,913,862
Interest income recognized on impaired loans	$	95,095	$	200,797	$	27,397	$	29,784	$	15,076	$	368,149

The following tables present an aged analysis of past due loans:

	June 30, 2015
	30-89 Days Past Due		90 Days or more Past Due and Non- Accrual		Total Past Due		Current Loans		Total Loans		Recorded Investment ³ 90 Days Past Due and Accruing
Residential 1-4 family	$	443,798	$	998,152	$	1,441,950	$	91,235,712	$	92,677,662	$	0
Commercial real estate and multifamily		—		81,397		81,397		96,237,173		96,318,570		0
Construction and land		—		170,268		170,268		20,437,449		20,607,717		0
Commercial		34,021		—		34,021		15,580,731		15,614,752		0
Consumer and other		112,626		90,036		202,662		27,618,233		27,820,895		12,928
Total	$	590,445	$	1,339,853	$	1,930,298	$	251,109,298	$	253,039,596	$	12,928

	December 31, 2014
	30-89 Days Past Due		90 Days or more Past Due and Non- Accrual		Total Past Due		Current Loans		Total Loans		Recorded Investment ³ 90 Days Past Due and Accruing
Residential 1-4 family	$	1,177,389	$	1,368,461	$	2,545,850	$	86,580,562	$	89,126,412	$	—
Commercial real estate and multifamily		—		86,228		86,228		87,656,186		87,742,414		—
Construction and land		33,790		525,591		559,381		26,742,392		27,301,773		—
Commercial		14,448		—		14,448		14,349,097		14,363,545		—
Consumer and other		98,598		202,722		301,320		24,397,110		24,698,430		12,335
Total	$	1,324,225	$	2,183,002	$	3,507,227	$	239,725,347	$	243,232,574	$	12,335

Credit quality indicators:

Federal regulations require the Company to review and classify its assets on a regular basis. There are three classifications for problem assets: substandard, doubtful, and loss. “Substandard assets” must have one or more defined weaknesses and are characterized by the distinct possibility that we will sustain some loss if the deficiencies are not corrected. “Doubtful assets” have the weaknesses of substandard assets with the additional characteristic that the weaknesses make collection or liquidation in full on the basis of currently existing facts, conditions and values questionable, and there is a high possibility of loss. An asset classified “loss” is considered uncollectible and of such little value that continuance as an asset of the institution is not warranted. The regulations also provide for a “special mention” category, described as assets which do not currently expose an institution to a sufficient degree of risk to warrant classification but do possess credit deficiencies or potential weaknesses deserving close attention. When the Company classifies an asset as substandard or doubtful, it may establish a specific allowance for loan losses.

The following outlines the amount of each loan classification and the amount categorized into each risk rating class:

	June 30, 2015
	Pass		Special Mention		Substandard		Doubtful		Loss		Total
Residential 1-4 family	$	88,253,626	$	1,727,289	$	2,696,747	$	—	$	—	$	92,677,662
Commercial real estate and multifamily		95,844,094		—		474,476		—		—		96,318,570
Construction and land		18,709,287		1,619,965		278,465		—		—		20,607,717
Commercial		13,836,960		10,555		1,767,237		—		—		15,614,752
Consumer and other		27,266,896		257,542		296,457		—		—		27,820,895
Total	$	243,910,863	$	3,615,351	$	5,513,382	$	—	$	—	$	253,039,596

	December 31, 2014
	Pass		Special Mention		Substandard		Doubtful		Loss		Total
Residential 1-4 family	$	83,606,922	$	1,870,612	$	3,648,878	$	—	$	—	$	89,126,412
Commercial real estate and multifamily		87,254,895		—		487,519		—		—		87,742,414
Construction and land		24,981,671		1,662,243		657,859		—		—		27,301,773
Commercial		12,555,528		13,465		1,794,552		—		—		14,363,545
Consumer and other		24,062,048		266,674		369,708		—		—		24,698,430
Total	$	232,461,064	$	3,812,994	$	6,958,516	$	—	$	—	$	243,232,574

A modification of a loan constitutes a troubled debt restructuring (“TDR”) when a borrower is experiencing financial difficulty and the modification constitutes a concession. By granting the concession, the Company expects to increase the probability of collection by more than would be expected by not granting the concession. The Company’s determination of whether a modification is a TDR considers the facts and circumstances surrounding each respective modification.

The following tables present information related to loans modified in a TDR:

	Six Months Ended June 30, 2015
	Number Of Loans		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Residential 1-4 family		—	$	—	$	—
Commercial real estate and multifamily		—		—		—
Construction and land		—		—		—
Commercial		—		—		—
Consumer and other		—		—		—
		—	$	—	$	—

	Six Months Ended June 30, 2014
	Number Of Loans		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Residential 1-4 family		—	$	—	$	—
Commercial real estate and multifamily		—		—		—
Construction and land		—		—		—
Commercial		—		—		—
Consumer and other		6		10,921		10,921
		6	$	10,921	$	10,921

The following tables set forth loans modified in a TDR from July 1 through June 30, for each respective period, that subsequently defaulted (i.e., 60 days or more past due following a modification):

	Twelve Months Ended June 30, 2015
	Number Of Loans		Outstanding Recorded Investment at Default
Residential 1-4 family		—	$	—
Commercial real estate and multifamily		—		—
Construction and land		—		—
Commercial		—		—
Consumer and other		2		10,684
		2	$	10 684

	Twelve Months Ended June 30, 2014
	Number Of Loans		Outstanding Recorded Investment at Default
Residential 1-4 family		—	$	—
Commercial real estate and multifamily		—		—
Construction and land		—		—
Commercial		—		—
Consumer and other		2		11,258
		2	$	11,258

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Investments, at Cost

6 Months Ended

Jun. 30, 2015

Investments, All Other Investments [Abstract]

Investments, at Cost

Note 3. Investments, at Cost

The Bank carries the following investments at cost because they are not readily marketable and there is no established market price for the investments. These investments are normally redeemed by the issuer at par value and may carry call or put options under certain circumstances. Investments carried at cost at June 30, 2015 and December 31, 2014 consist of:

	June 30, 2015		December 31, 2014
Federal Home Loan Bank of Cincinnati common stock	$	2,549,000	$	2,549,000
Tenth Street Fund III, L.P. investment		900,000		900,000
	$	3,449,000	$	3,449,000

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Summary of Significant Accounting Policies - Additional Information (Detail)	Jun. 30, 2015 Branch
Schedule of Accounting Policies [Line Items]
Number of branches	7
Southland Finance, Inc. [Member]
Schedule of Accounting Policies [Line Items]
Number of branches	1

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Investments, at Cost (Tables)

6 Months Ended

Jun. 30, 2015

Investments, All Other Investments [Abstract]

Investments, at Cost Detailed

Investments carried at cost at June 30, 2015 and December 31, 2014 consist of:

	June 30, 2015		December 31, 2014
Federal Home Loan Bank of Cincinnati common stock	$	2,549,000	$	2,549,000
Tenth Street Fund III, L.P. investment		900,000		900,000
	$	3,449,000	$	3,449,000

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Federal Home Loan Bank Advances

6 Months Ended

Jun. 30, 2015

Banking and Thrift [Abstract]

Federal Home Loan Bank Advances

Note 7. Federal Home Loan Bank Advances

At June 30, 2015, the Bank had a short term advance outstanding of $3,000,000 with interest accruing at a rate of 0.16%. Pursuant to collateral agreements with the FHLB, the advance described above is secured by the Bank’s FHLB stock and qualifying first mortgage loans.

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Fair Value Disclosures

6 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

Fair Value Disclosures

Note 5. Fair Value Disclosures

The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. In accordance with ASC Topic 820, Fair Value Measurements and Disclosures, the fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument.

ASC Topic 820 provides a consistent definition of fair value, which focuses on exit price in an orderly transaction between market participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment. The fair value is a reasonable point within the range that is most representative of fair value under current market conditions.

ASC Topic 820 also establishes a three-tier fair value which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value, as follows:

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access.

Level 2 - Significant other observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities in active markets, quoted prices in markets that are not active and other inputs that are observable or can be corroborated by observable market data.

Level 3 - Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability.

A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. There have been no changes in the methodologies used at June 30, 2015 and December 31, 2014.

The following methods and assumptions were used by the Company in estimating fair value disclosures for financial instruments.

Cash, cash equivalents, and interest-bearing deposits in banks:

The carrying amounts of cash, cash equivalents, and interest-bearing deposits in banks approximate fair values based on the short-term nature of the assets. These assets are included in Level 1 of the valuation hierarchy.

Securities:

Fair values are estimated using pricing models and discounted cash flows that consider standard input factors such as observable market data, benchmark yields, interest rate volatilities, broker/dealer quotes, and credit spreads. Securities classified as available for sale are reported at fair value utilizing Level 2 inputs.

Investments, at cost:

The carrying value of investments at cost approximate fair value. These assets are included in Level 3 of the valuation hierarchy.

Loans:

For variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. Fair value for fixed-rate loans are estimated using discounted cash flow analyses, using market interest rates for comparable loans. These are reflected within Level 3 of the valuation hierarchy. The Company does not record loans at fair value on a recurring basis. However, from time to time, a loan is considered impaired and an allowance for loan losses is established. Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. Once a loan is identified as individually impaired, management measures impairment in accordance with ASC Topic 310, Receivables. The fair value of impaired loans is estimated using several methods including collateral value, liquidation value and discounted cash flows. Those impaired loans not requiring an allowance represent loans for which the fair value of the expected repayments or collateral exceed the recorded investments in such loans. At June 30, 2015, substantially all of the total impaired loans were evaluated based on the fair value of collateral. In accordance with ASC Topic 310, impaired loans where an allowance is established based on the fair value of collateral require classification in the fair value hierarchy. When the fair value of the collateral is based on the observable market price or a current, independent appraised value, the Company records the impaired loan as nonrecurring Level 2. The Company records the impaired loan as nonrecurring Level 3 when management has become aware of events that have significantly impacted the condition or marketability of the collateral since the most recent appraisal which are not observable market prices. Also, certain impaired loans recorded as nonrecurring Level 3 are evaluated based on a discounted cash flow methodology comparing the contractual rate against the modified rate. In this case, management will reduce the appraisal value based on factors determined by their judgment and collective knowledge of the collateral and market conditions.

Foreclosed real estate:

Foreclosed real estate consisting of properties obtained through foreclosure or in satisfaction of loans is initially recorded at fair value, determined on the basis of current appraisals, comparable sales, and other estimates of value obtained principally from independent sources, adjusted for estimated selling costs. At the time of foreclosure, any excess of the loan balance over the fair value of the real estate held as collateral is treated as a charge against the allowance for loan losses. Gains or losses on sale and any subsequent adjustments to the fair value are recorded as a component of foreclosed real estate expense. Other real estate is included in Level 2 of the valuation hierarchy.

Deposits:

The fair value of deposits with no stated maturity, such as noninterest-bearing demand deposits and NOW, money market, and savings accounts, is equal to the amount payable on demand at the reporting date. The fair value of time deposits is based on the discounted value of contractual cash flows, and is included in Level 3 of the valuation hierarchy. The discount rate is estimated using the rates currently offered for deposits of similar remaining maturities.

Securities sold under agreements to repurchase:

The estimated fair value of these liabilities, which are extremely short term, approximates their carrying value. These liabilities are included in Level 3 of the valuation hierarchy.

Federal Home Loan Bank advances:

Rates currently available to the Company for debt with similar terms and remaining maturities are used to estimate the fair value of existing debt. These liabilities are included in Level 3 of the valuation hierarchy.

Accrued interest:

The carrying amounts of accrued interest approximate fair value. These assets and liabilities are included in Level 3 of the valuation hierarchy.

Commitments to extend credit, letters of credit and lines of credit:

The fair value of commitments is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed-rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates.

The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis:

	Balance as of June 30, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Securities available for sale:
Securities of U.S. Government agencies and corporations	$	2,601,611	$	—	$	2,601,611	$	—
Mortgage-backed securities		11,717,760		—		11,717,760		—
State and municipal securities		12,937,934		—		12,937,934		—
Total securities available for sale	$	27,257,305	$	—	$	27,257,305	$	—

	Balance as of December 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Securities available for sale:
Securities of U.S. Government agencies and corporations	$	2,629,854	$	—	$	2,629,854	$	—
Mortgage-backed securities		13,037,123		—		13,037,123		—
State and municipal securities		13,104,777		—		13,104,777		—
Total securities available for sale	$	28,771,754	$	—	$	28,771,754	$	—

At June 30, 2015 and December 31, 2014, the Company had no assets or liabilities whose fair values are measured on a recurring basis using Level 3 inputs. Additionally, there were no transfers between Levels 1 and 2.

The tables below present information about assets and liabilities for which a nonrecurring change in fair value was recorded:

	Balance as of June 30, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Impaired loans	$	2,932,801	$	—	$	1,217,570	$	1,715,231
Foreclosed real estate		2,223,261		—		2,223,261		—

	Balance as of December 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Impaired loans	$	2,691,266	$	—	$	966,265	$	1,725,001
Foreclosed real estate		1,942,844		—		1,942,844		—

For Level 3 assets measured at fair value on a non-recurring basis as of June 30, 2015, the significant unobservable inputs used in the fair value measurements are presented below.

	Carrying Amount		Valuation Technique	Significant Unobservable Input	Weighted Average of Input
Impaired loans	$	1,715,231	Present Value	Discounted Cash Flows		6.50	%

The carrying amount and estimated fair value of the Company’s financial instruments at June 30, 2015 and December 31, 2014 are as follows:

	June 30, 2015				December 31, 2014
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial assets:
Cash and cash equivalents	$	8,751,451	$	8,751,451	$	11,925,541	$	11,925,541
Securities available for sale		27,257,305		27,257,305		28,771,754		28,771,754
Investments, at cost		3,449,000		3,449,000		3,449,000		3,449,000
Loans, net		248,260,422		248,670,359		238,558,389		239,013,615
Accrued interest receivable		932,414		932,414		1,007,115		1,007,115
Financial liabilities:
Deposits		255,472,238		257,813,765		248,572,231		252,393,127
Securities sold under agreements to repurchase		1,032,223		1,032,223		1,512,993		1,512,993
Federal Home Loan Bank advances		3,000,000		3,000,000		5,000,000		5,000,112
Accrued interest payable		115,895		115,895		132,397		132,397
Unrecognized financial instruments (net of contract amount):
Commitments to extend credit		—		—		—		—
Letter of credit		—		—		—		—
Lines of credit		—		—		—		—

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Stock Options, ESOP, and Restricted Shares

6 Months Ended

Jun. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Options, ESOP, and Restricted Shares

Note 6. Stock Options, ESOP, and Restricted Shares

2010 Equity Incentive Plan

The Athens Bancshares Corporation 2010 Equity Incentive Plan (“the 2010 Plan”) was approved by the Company’s stockholders at the annual meeting of stockholders held on July 14, 2010. Under the terms of the 2010 Plan, the Company may grant restricted stock awards and stock options to its employees, officers, and directors. The purpose of the 2010 Plan is to promote the success of the Company by linking the personal interests of its employees, officers, and directors to the interest of the Company’s shareholders, and by providing participants with an incentive for remarkable performance. All of the Company’s employees, officers, and directors are eligible to participate in the 2010 Plan.

Under terms of the 2010 Plan, the Company is authorized to issue up to 277,725 stock options and up to 111,090 shares of restricted stock.

Stock Options:

The Company granted stock options to its directors, officers, and employees on December 15, 2010. Both incentive stock options and non-qualified stock options were granted under the 2010 Plan. The exercise price for each option was equal to the market price of the Company’s stock on the date of grant and the maximum term of each option is ten years. The vesting period for all options is five years, pro rata, from the date of grant. The Company recognizes compensation expense over the vesting period, based on the grant-date fair value of the options granted. The fair value of each option granted is estimated on the date of grant using the Black-Scholes option-pricing model. For the six months ended June 30, 2015 and 2014, the Company recorded stock compensation expense of $47,947 and $27,075, respectively. At June 30, 2015, the total remaining compensation cost to be recognized on non-vested options is approximately $201,381.

A summary of the activity in the 2010 Plan for the six months ended June 30, 2015, is presented in the following table:

	Six Months Ended June 30, 2015
	Shares		Average Exercise Price		Aggregate Intrinsic Value (1)
Outstanding at December 31, 2014		270,584	$	13.60		—
Granted		—		N/A		—
Exercised		20,829	$	11.50		—
Forfeited		—		N/A		—
Outstanding at June 30, 2015		249,755	$	13.78	$	3,801,179
Options exercisable at June 30, 2015		160,880	$	11.50	$	2,815,393

(1) The aggregate intrinsic value of a stock option in the table above represents the total pre-tax intrinsic value (the amount by which the current market value of the underlying stock exceeds the exercise price of the option) that would have been received by the option holders had all option holders exercised their options on June 30, 2015. This amount changes based on changes in the market value of the Company’s stock.

Other information regarding options outstanding and exercisable as of June 30, 2015, is as follows:

	Options Outstanding						Options Exercisable
Exercise Price	Number of Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Life In Years		Number of Shares		Weighted- Average Exercise Price
$11.50		208,092	$	11.50		5.50		160,880	$	11.50
$25.17		41,663	$	25.17		9.50		–		25.17

Information pertaining to non-vested options for the six months ended June 30, 2015, is as follows:

	Number of Shares		Weighted Average Grant Date Fair Value
Non-vested options, December 31, 2014		88,875	$	3.29
Granted		—		—
Vested		—		—
Forfeited		—		—
Non-vested options, June 30, 2014		88,875	$	3.29

Restricted Stock:

On January 19, 2011, the Company awarded 94,426 shares of restricted stock to its directors, officers, and employees pursuant to the terms of the 2010 Plan. Compensation expense associated with the performance-based share awards is recognized over the time period that the restrictions associated with the awards lapse based on the total cost of the award, which is the fair market value of the stock on the date of the grant. The closing price on the date of the grants issued on January 19, 2011 was $12.75 per share.

On December 19, 2012, the Company awarded 16,664 shares of restricted stock to its officers and employees pursuant to the terms of the 2010 Plan. The closing price on the date of the grants issued on December 19, 2012 was $16.65.

For both the six months ended June 30, 2015 and 2014, the Company recognized $148,139 in compensation expense attributable to restricted shares that have been awarded. At June 30, 2015, the total remaining compensation cost to be recognized on non-vested restricted stock is approximately $500,000.

A summary of activity for unvested restricted awards for the six months ended June 30, 2015 is as follows:

	Number			Grant Date Weighted- Average Cost
Unvested at December 31, 2014		47,769		$	13.56
Shares awarded		—			—
Restrictions lapsed and shares released		(18,885	)		12.75
Shares forfeited		—			—
Unvested at June 30, 2015		28,884		$	14.10

Employee Stock Ownership Plan (ESOP)

The Bank sponsors a leveraged ESOP that covers substantially all employees who meet certain age and eligibility requirements. As part of the Company’s initial public offering, the ESOP purchased 222,180 shares, or approximately 8% of the 2,777,250 shares issued, with the proceeds of a 15 year loan from the Company which is payable in annual installments and bears interest at 3.25% per annum.

The Bank has committed to make contributions to the ESOP sufficient to support the debt service of the loan. The loan is secured by the unallocated shares, which are held in a suspense account, and are allocated among the participants as the loan is repaid. Cash dividends paid on allocated shares are distributed to the participant and cash dividends paid on unallocated shares are used to repay the outstanding debt of the ESOP.

ESOP shares are held by the plan trustee in a suspense account until allocated to participant accounts. Shares released from the suspense account are allocated to participants on the basis of their relative compensation in the year of allocation. Participants become vested in the allocated shares upon four years of employment with the Bank. Any forfeited shares are allocated to other participants in the same proportion as contributions.

As ESOP shares are allocated to participants, the Bank recognizes compensation expense equal to the fair value of the earned ESOP shares. No compensation expense has been recorded for the six months ended June 30, 2015 or 2014.

A detail of ESOP shares is as follows:

	June 30, 2015		December 31, 2014
Allocated shares		74,060		74,060
Unallocated shares		148,120		148,120
Total ESOP shares		222,180		222,180
Fair value of unallocated shares	$	4,295,480	$	3,762,248

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Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2015

Accounting Policies [Abstract]

Interim Financial Information (Unaudited)

Interim Financial Information (Unaudited)

The accompanying unaudited consolidated financial statements have been prepared in accordance with GAAP for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X as promulgated by the SEC. Accordingly, they do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring accruals) considered necessary for a fair presentation of the financial condition and results of operations for the periods presented have been included. Operating results for the three and six months ended June 30, 2015, are not necessarily indicative of the results that may be expected for the full year or in any other period. For further information, refer to the Company’s consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014.

The Company has evaluated events and transactions for potential recognition and disclosure through the date the financial statements were issued.

Nature of operations

Nature of operations

The Company is a holding company whose principal activity is the ownership and management of its wholly owned subsidiary, Athens Federal Community Bank (the “Bank”). The Bank provides a variety of financial services to individuals and corporate customers through its seven branches located in Athens, Sweetwater, Etowah, Madisonville, and Cleveland, Tennessee. The Bank’s primary deposit products include checking, savings, certificates of deposit, and IRA accounts. Its primary lending products are one-to-four family residential, commercial real estate, and consumer loans. Southland Finance, Inc. (“Southland”) is a consumer finance company with one branch located in Athens, Tennessee. Ti-Serv, Inc. (“Ti-Serv”) maintains the Bank’s investment in Valley Title Services, LLC (“Valley Title”). Southland and Ti-Serv are wholly-owned subsidiaries of the Bank. Valley Title is a wholly-owned subsidiary of Ti-Serv.

Use of estimates

Use of estimates

The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses, the valuation of deferred tax assets, other-than-temporary impairment of securities, and the fair value of financial instruments.

Recent Accounting Pronouncements

Recent Accounting Pronouncements

The Company has determined that all recently issued accounting pronouncements will not have a material impact on its consolidated financial statements or do not apply to its operations.

Earnings Per Common Share

Earnings Per Common Share

Basic earnings per share are computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the Company.

The following is a summary of the basic and diluted earnings per share for the three months ended June 30, 2015 and 2014:

	Three Months Ended June 30,
	2015		2014
Numerator: Net income	$	749,277	$	669,573
Denominator: Weighted average common shares outstanding		1,651,191		1,642,295
Effect of dilutive stock options		130,610		110,031
Diluted shares		1,781,801		1,752,326
Basic earnings per share	$	0.45	$	0.41
Diluted earnings per share	$	0.42	$	0.38

The following is a summary of the basic and diluted earnings per share for the six months ended June 30, 2015 and 2014:

	Six Months Ended June 30,
	2015		2014
Numerator: Net income	$	1,341,203	$	1,329,931
Denominator: Weighted average common shares outstanding		1,650,501		1,675,591
Effect of dilutive stock options		127,425		104,832
Diluted shares	$	1,777,926	$	1,780,423
Basic earnings per share	$	0.81	$	0.79
Diluted earnings per share	$	0.75	$	0.75

Reclassifications

Reclassifications

Certain amounts from prior period financial statements have been reclassified to conform to the current period’s presentation. The reclassifications had no effect on net income, total assets or stockholders’ equity as previously reported.

Fair value measurements and disclosures

The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. In accordance with ASC Topic 820, Fair Value Measurements and Disclosures, the fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument.

ASC Topic 820 provides a consistent definition of fair value, which focuses on exit price in an orderly transaction between market participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment. The fair value is a reasonable point within the range that is most representative of fair value under current market conditions.

ASC Topic 820 also establishes a three-tier fair value which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value, as follows:

Level 1 - Quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access.

Level 2 - Significant other observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities in active markets, quoted prices in markets that are not active and other inputs that are observable or can be corroborated by observable market data.

Level 3 - Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability.

A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. There have been no changes in the methodologies used at June 30, 2015 and December 31, 2014.

Receivables

Loans:

For variable-rate loans that reprice frequently and with no significant change in credit risk, fair values are based on carrying values. Fair value for fixed-rate loans are estimated using discounted cash flow analyses, using market interest rates for comparable loans. These are reflected within Level 3 of the valuation hierarchy. The Company does not record loans at fair value on a recurring basis. However, from time to time, a loan is considered impaired and an allowance for loan losses is established. Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. Once a loan is identified as individually impaired, management measures impairment in accordance with ASC Topic 310, Receivables. The fair value of impaired loans is estimated using several methods including collateral value, liquidation value and discounted cash flows. Those impaired loans not requiring an allowance represent loans for which the fair value of the expected repayments or collateral exceed the recorded investments in such loans. At June 30, 2015, substantially all of the total impaired loans were evaluated based on the fair value of collateral. In accordance with ASC Topic 310, impaired loans where an allowance is established based on the fair value of collateral require classification in the fair value hierarchy. When the fair value of the collateral is based on the observable market price or a current, independent appraised value, the Company records the impaired loan as nonrecurring Level 2. The Company records the impaired loan as nonrecurring Level 3 when management has become aware of events that have significantly impacted the condition or marketability of the collateral since the most recent appraisal which are not observable market prices. Also, certain impaired loans recorded as nonrecurring Level 3 are evaluated based on a discounted cash flow methodology comparing the contractual rate against the modified rate. In this case, management will reduce the appraisal value based on factors determined by their judgment and collective knowledge of the collateral and market conditions.

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Loans and Allowances for Loan Losses - Loans Individually Evaluated for Impairment by Class of Loans (Detail) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Financing Receivable, Allowance for Credit Losses [Line Items]
Without a valuation allowance	$ 2,086,648	$ 3,763,155
With a valuation allowance	3,426,734	3,195,361
Recorded investment in impaired loans	5,513,382	6,958,516
Unpaid principal balance of impaired loans	6,470,572	7,915,707
Valuation allowance related to impaired loans	493,933	504,095
Average investment in impaired loans	5,569,950	7,913,862
Interest income recognized on impaired loans	128,046	368,149
Commercial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Without a valuation allowance	17,325	22,262
With a valuation allowance	1,749,912	1,772,290
Recorded investment in impaired loans	1,767,237	1,794,552
Unpaid principal balance of impaired loans	1,807,084	1,834,400
Valuation allowance related to impaired loans	28,702	42,724
Average investment in impaired loans	1,781,694	1,836,670
Interest income recognized on impaired loans	45,485	95,095
Residential 1-4 Family [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Without a valuation allowance	1,602,298	2,734,578
With a valuation allowance	1,094,449	914,300
Recorded investment in impaired loans	2,696,747	3,648,878
Unpaid principal balance of impaired loans	3,088,774	4,040,905
Valuation allowance related to impaired loans	282,381	282,532
Average investment in impaired loans	2,691,760	4,233,405
Interest income recognized on impaired loans	60,191	200,797
Commercial Real Estate and Multi-Family [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Without a valuation allowance	221,095	230,238
With a valuation allowance	253,381	257,281
Recorded investment in impaired loans	474,476	487,519
Unpaid principal balance of impaired loans	474,476	487,519
Valuation allowance related to impaired loans	92,433	94,743
Average investment in impaired loans	479,832	504,017
Interest income recognized on impaired loans	13,033	27,397
Construction and Land [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Without a valuation allowance	202,575	581,279
With a valuation allowance	75,890	76,580
Recorded investment in impaired loans	278,465	657,859
Unpaid principal balance of impaired loans	803,622	1,183,016
Valuation allowance related to impaired loans	26,561	26,803
Average investment in impaired loans	309,922	950,946
Interest income recognized on impaired loans	5,526	29,784
Consumer and Other [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Without a valuation allowance	43,355	194,798
With a valuation allowance	253,102	174,910
Recorded investment in impaired loans	296,457	369,708
Unpaid principal balance of impaired loans	296,616	369,867
Valuation allowance related to impaired loans	63,856	57,293
Average investment in impaired loans	306,742	388,824
Interest income recognized on impaired loans	$ 3,811	$ 15,076

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Federal Home Loan Bank Advances - Additional Information (Detail) - Jun. 30, 2015 - USD ($)	Total
Banking and Thrift [Abstract]
Federal home loan bank short term advances outstanding amount	$ 3,000,000
Federal home loan bank advances accrued interest rate	0.16%

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Fair Value Disclosures (Tables)

6 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

Recorded Amount of Assets and Liabilities Measured at Fair Value on Recurring Basis

The tables below present the recorded amount of assets and liabilities measured at fair value on a recurring basis:

	Balance as of June 30, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Securities available for sale:
Securities of U.S. Government agencies and corporations	$	2,601,611	$	—	$	2,601,611	$	—
Mortgage-backed securities		11,717,760		—		11,717,760		—
State and municipal securities		12,937,934		—		12,937,934		—
Total securities available for sale	$	27,257,305	$	—	$	27,257,305	$	—

	Balance as of December 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Securities available for sale:
Securities of U.S. Government agencies and corporations	$	2,629,854	$	—	$	2,629,854	$	—
Mortgage-backed securities		13,037,123		—		13,037,123		—
State and municipal securities		13,104,777		—		13,104,777		—
Total securities available for sale	$	28,771,754	$	—	$	28,771,754	$	—

Assets and Liabilities for which a Nonrecurring Change in Fair Value was Recorded

The tables below present information about assets and liabilities for which a nonrecurring change in fair value was recorded:

	Balance as of June 30, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Impaired loans	$	2,932,801	$	—	$	1,217,570	$	1,715,231
Foreclosed real estate		2,223,261		—		2,223,261		—

	Balance as of December 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Other Unobservable Inputs (Level 3)
Impaired loans	$	2,691,266	$	—	$	966,265	$	1,725,001
Foreclosed real estate		1,942,844		—		1,942,844		—

Significant Unobservable Inputs Used in Fair Value Measurements

For Level 3 assets measured at fair value on a non-recurring basis as of June 30, 2015, the significant unobservable inputs used in the fair value measurements are presented below.

	Carrying Amount		Valuation Technique	Significant Unobservable Input	Weighted Average of Input
Impaired loans	$	1,715,231	Present Value	Discounted Cash Flows		6.50	%

Carrying Amount and Estimated Fair Value of the Company's Financial Instruments

The carrying amount and estimated fair value of the Company’s financial instruments at June 30, 2015 and December 31, 2014 are as follows:

	June 30, 2015				December 31, 2014
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Financial assets:
Cash and cash equivalents	$	8,751,451	$	8,751,451	$	11,925,541	$	11,925,541
Securities available for sale		27,257,305		27,257,305		28,771,754		28,771,754
Investments, at cost		3,449,000		3,449,000		3,449,000		3,449,000
Loans, net		248,260,422		248,670,359		238,558,389		239,013,615
Accrued interest receivable		932,414		932,414		1,007,115		1,007,115
Financial liabilities:
Deposits		255,472,238		257,813,765		248,572,231		252,393,127
Securities sold under agreements to repurchase		1,032,223		1,032,223		1,512,993		1,512,993
Federal Home Loan Bank advances		3,000,000		3,000,000		5,000,000		5,000,112
Accrued interest payable		115,895		115,895		132,397		132,397
Unrecognized financial instruments (net of contract amount):
Commitments to extend credit		—		—		—		—
Letter of credit		—		—		—		—
Lines of credit		—		—		—		—

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Securities - Additional Information (Detail)	6 Months Ended		12 Months Ended
	Jun. 30, 2015 USD ($) Security	Jun. 30, 2014 USD ($)	Dec. 31, 2014 USD ($) Security
Investments, Debt and Equity Securities [Abstract]
Held-to-maturity securities	$ 0		$ 0
Gains or losses from marketable securities	0	$ 0
Pledged securities, carrying values	$ 2,002,000		$ 19,554,000
Number of depreciated securities | Security	10		5
Securities with unrealized losses, depreciated from the Company's amortized cost basis	1.43%		1.22%

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Stock Options, ESOP, and Restricted Shares - Summary of Activity for Unvested Restricted Awards (Detail) - $ / shares			6 Months Ended
	Dec. 19, 2012	Jan. 19, 2011	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares awarded, Number of shares			2,777,250
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested options, Number of shares, Beginning Balance			47,769
Shares awarded, Number of shares	16,664	94,426	0
Restrictions lapsed and shares released, Number of shares			(18,885)
Shares forfeited, Number of shares			0
Unvested options, Number of shares, Ending Balance			28,884
Unvested options, Grant Date Weighted-Average Cost, Beginning Balance			$ 13.56
Shares awarded, Grant Date Weighted-Average Cost	$ 16.65	$ 12.75	0
Restrictions lapsed and shares released, Grant Date Weighted-Average Cost			12.75
Shares forfeited, Grant Date Weighted-Average Cost			0
Unvested options, Grant Date Weighted-Average Cost, Ending Balance			$ 14.10

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Fair Value Disclosures - Additional Information (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Transfers between levels 1 and 2	$ 0
Fair Value, Measurements, Recurring [Member] | Significant Other Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, whose fair values are measured on a recurring basis using Level 3 inputs	0	$ 0
Liabilities, whose fair values are measured on a recurring basis using Level 3 inputs	$ 0	$ 0

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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 749,277	$ 669,573	$ 1,341,203	$ 1,329,931
Other comprehensive income (loss), before tax:
Unrealized holding gains (losses) on securities available for sale	(320,408)	184,433	(164,089)	425,635
Income tax (expense) benefit related to other comprehensive income items	121,755	(70,084)	62,354	(161,741)
Other comprehensive income (loss), net of tax	(198,653)	114,349	(101,735)	263,894
Comprehensive income	$ 550,624	$ 783,922	$ 1,239,468	$ 1,593,825

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Securities

6 Months Ended

Jun. 30, 2015

Investments, Debt and Equity Securities [Abstract]

Securities

Note 2. Securities

The amortized cost and estimated fair value of securities classified as available for sale and held to maturity at June 30, 2015 and December 31, 2014 are as follows:

	June 30, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Securities of U.S. Government agencies and corporations	$	2,599,925	$	18,995	$	(17,309	)	$	2,601,611
Mortgage-backed and related securities (1)		11,548,721		188,625		(19,586	)		11,717,760
State and municipal securities		12,728,230		258,915		(49,211	)		12,937,934
	$	26,876,876	$	466,535	$	(86,106	)	$	27,257,305

	December 31, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Securities of U.S. Government agencies and corporations	$	2,641,393	$	9,564	$	(21,103	)	$	2,629,854
Mortgage-backed and related securities (1)		12,835,109		204,492		(2,478	)		13,037,123
State and municipal securities		12,750,735		393,364		(39,322	)		13,104,777
	$	28,227,237	$	607,420	$	(62,903	)	$	28,771,754

(1) Collateralized by residential mortgages and guaranteed by U.S. Government sponsored entities.

As of June 30, 2015 and December 31, 2014, the Company did not have any securities classified as held-to-maturity.

The amortized cost and estimated market value of securities at June 30, 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.

	June 30, 2015
	Securities Available for Sale
	Amortized Cost		Fair Value
Due in one year or less	$	87,373	$	88,188
Due after one year through five years		7,974,876		8,046,818
Due five years to ten years		6,106,110		6,246,843
Due after ten years		1,159,796		1,157,696
Mortgage-backed securities		11,548,721		11,717,760
Total	$	26,876,876	$	27,257,305

The Company had no realized gains or losses for the six month periods ended June 30, 2015 and 2014.

The Company has pledged securities with carrying values of approximately $2,002,000 and $19,554,000 to secure deposits of public and private funds as of June 30, 2015 and December 31, 2014, respectively.

Securities with gross unrealized losses at June 30, 2015 and December 31, 2014, aggregated by investment category and length of time that individual securities have been in a continuous loss position, are as follows:

	June 30, 2015
	Less than 12 Months					12 Months or Greater							Total
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
	(dollars in thousands)
Securities Available for Sale:
Securities of U.S. Government agencies and corporations	$	—	$	—		$	983	$	(17	)	$	983	$	(17	)
State and municipal securities		2,356		(27	)		1,161		(22	)		3,517		(49	)
Mortgage-backed and related securities		1,426		(20	)		—		—			1,426		(20	)
	$	3,782	$	(47	)	$	2,144	$	(39	)	$	5,926	$	(86	)
	December 31, 2014
	Less than 12 Months					12 Months or Greater							Total
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
	(dollars in thousands)
Securities Available for Sale:
Securities of U.S. Government agencies and corporations	$	—	$	—		$	979	$	(21	)	$	979	$	(21	)
State and municipal securities		—		—			2,354		(39	)		2,354		(39	)
Mortgage-backed and related securities		986		(2	)		793		(1	)		1,779		(3	)
	$	986	$	(2	)	$	4,126	$	(61	)	$	5,112	$	(63	)

Management performs periodic reviews for impairment in accordance with ASC Topic 320, Investments – Debt and Equity Securities.

At June 30, 2015, the 10 securities with unrealized losses had depreciated 1.43 percent from the Company’s amortized cost basis. At December 31, 2014, the 5 securities with unrealized losses had depreciated 1.22 percent from the Company’s amortized cost basis.

Most of these securities are guaranteed by either U.S. government corporations or agencies or had investment grade ratings upon purchase. Further, the issuers of these securities have not established any cause for default. The unrealized losses associated with these investment securities are primarily driven by changes in interest rates and are not due to the credit quality of the securities. These securities will continue to be monitored as a part of the Company’s ongoing impairment analysis, but are expected to perform even if the rating agencies reduce the credit rating of the bond insurers. Management evaluates the financial performance of each issuer on a quarterly basis to determine if it is probable that the issuers can make all contractual principal and interest payments.

Upon acquisition of a security, the Company determines the appropriate impairment model that is applicable. If the security is a beneficial interest in securitized financial assets, the Company uses the beneficial interests in securitized financial assets impairment model. If the security is not a beneficial interest in securitized financial assets, the Company uses the debt and equity securities impairment model. The Company conducts periodic reviews to evaluate each security to determine whether an other-than-temporary impairment has occurred. The Company does not have any securities that have been classified as other-than-temporarily-impaired at June 30, 2015.

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Securities - Amortized Cost and Estimated Fair Value of Securities, by Contractual Maturity (Detail) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Investments, Debt and Equity Securities [Abstract]
Securities Available for Sale, Due in one year or less, Amortized Cost	$ 87,373
Securities Available for Sale, Due after one year through five years, Amortized Cost	7,974,876
Securities Available for Sale, Due five years to ten years, Amortized Cost	6,106,110
Securities Available for Sale, Due after ten years, Amortized Cost	1,159,796
Securities Available for Sale, Mortgage-backed securities, Amortized Cost	11,548,721
Securities Available for Sale, Total, Amortized Cost	26,876,876
Securities Available for Sale, Due in one year or less, Fair Value	88,188
Securities Available for Sale, Due after one year through five years, Fair Value	8,046,818
Securities Available for Sale, Due five years to ten years, Fair Value	6,246,843
Securities Available for Sale, Due after ten years, Fair Value	1,157,696
Securities Available for Sale, Mortgage-backed securities, Fair Value	11,717,760
Securities Available for Sale, Total, Fair Value	$ 27,257,305	$ 28,771,754

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Loans and Allowances for Loan Losses - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2015
Receivables [Abstract]
Loans modified in TDR that subsequently defaulted	60 days

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Loans and Allowances for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2015

Receivables [Abstract]

Company's Loans

The Company’s loans consist of the following at June 30, 2015 and December 31, 2014:

	June 30, 2015			December 31, 2014
Mortgage loans on real estate:
Residential 1-4 family	$	92,677,662		$	89,126,412
Commercial real estate and multi-family		96,318,570			87,742,414
Construction and land		20,607,717			27,301,773
		209,603,949			204,170,599
Commercial loans		15,614,752			14,363,545
Consumer and other		27,820,895			24,698,430
Total loans		253,039,596			243,232,574
Less: Allowance for loan losses		(3,887,533	)		(3,914,848	)
Unearned interest and fees		(411,363	)		(363,622	)
Net deferred loan origination fees		(480,278	)		(395,715	)
Loans, net	$	248,260,422		$	238,558,389

Allowance for Loan Losses

The following presents activity in the allowance for loan losses for the six months ended June 30, 2015 and the year ended December 31, 2014:

	June 30, 2015			December 31, 2014
Beginning balance	$	3,914,848		$	4,432,069
Provision for loan losses		201,813			109,621
Loans charged-off		(277,599	)		(696,602	)
Recoveries		48,471			69,760
Ending balance	$	3,887,533		$	3,914,848

Allocation of the Allowance for Loan Losses and Recorded Investment in Loans by Portfolio Segment

The allocation of the allowance for loan losses and recorded investment in loans by portfolio segment are as follows:

	June 30, 2015
	Commercial		Residential 1-4 Family		Commercial Real Estate and Multi- Family		Construction and Land		Consumer and Other		Unallocated		Total
Specified reserves-impaired loans	$	28,702	$	282,381	$	92,433	$	26,561	$	63,856	$	—	$	493,933
General reserves		294,764		841,182		1,204,065		557,069		495,564		956		3,393,600
Total reserves	$	323,466	$	1,123,563	$	1,296,498	$	583,630	$	559,420	$	956	$	3,887,533
Impaired loans	$	1,767,237	$	2,696,747	$	474,476	$	278,465	$	296,457	$	—	$	5,513,382
Performing loans		13,847,515		89,980,915		95,844,094		20,329,252		27,524,438		—		247,526,214
Total	$	15,614,752	$	92,677,662	$	96,318,570	$	20,607,717	$	27,820,895	$	—	$	253,039,596
	December 31, 2014
	Commercial		Residential 1-4 Family		Commercial Real Estate and Multi- Family		Construction and Land		Consumer and Other		Unallocated		Total
Specified reserves-impaired loans	$	42,724	$	282,532	$	94,743	$	26,803	$	57,293	$	—	$	504,095
General reserves		270,163		828,557		1,139,953		597,247		443,284		131,549		3,410,753
Total reserves	$	312,887	$	1,111,089	$	1,234,696	$	624,050	$	500,577	$	131,549	$	3,914,848
Impaired loans	$	1,794,552	$	3,648,878	$	487,519	$	657,859	$	369,708	$	—	$	6,958,516
Performing loans		12,568,993		85,477,534		87,254,895		26,643,914		24,328,722		—		236,274,058
Total	$	14,363,545	$	89,126,412	$	87,742,414	$	27,301,773	$	24,698,430	$	—	$	243,232,574

Changes in the Allowance for Loan Losses by Class of Loan

The following table details the changes in the allowance for loan losses from December 31, 2013 to June 30, 2015 by class of loan:

	Commercial			Residential 1-4 Family			Commercial Real Estate and Multi- Family			Construction and Land			Consumer and Other			Unallocated			Total
Balance, December 31, 2013	$	331,938		$	1,442,506		$	1,108,958		$	956,726		$	530,557		$	61,384		$	4,432,069
Provision (reallocation) for loan losses		(10,828	)		(291,330	)		364,436			(156,990	)		134,168			70,165			109,621
Loans charged-off		(8,223	)		(43,999	)		(238,698	)		(175,686	)		(229,996	)		—			(696,602	)
Recoveries		—			3,912			—			—			65,848			—			69,760
Balance, December 31, 2014		312,887			1,111,089			1,234,696			624,050			500,577			131,549			3,914,848
Provision (reallocation) for loan losses		10,579			26,414			62,038			123,715			109,660			(130,593	)		201,813
Loans charged-off		—			(29,031	)		(236	)		(164,135	)		(84,197	)		—			(277,599	)
Recoveries		—			15,091			—			—			33,380			—			48,471
Balance, June 30, 2015	$	323,466		$	1,123,563		$	1,296,498		$	583,630		$	559,420		$	956		$	3,887,533

Loans Individually Evaluated for Impairment by Class of Loans

The following tables present loans individually evaluated for impairment by class of loans as of June 30, 2015 and December 31, 2014:

	June 30, 2015
	Commercial		Residential 1-4 Family		Commercial Real Estate and Multi- Family		Construction and Land		Consumer and Other		Total
Impaired loans:
Without a valuation allowance	$	17,325	$	1,602,298	$	221,095	$	202,575	$	43,355	$	2,086,648
With a valuation allowance		1,749,912		1,094,449		253,381		75,890		253,102		3,426,734
Recorded investment in impaired loans	$	1,767,237	$	2,696,747	$	474,476	$	278,465	$	296,457	$	5,513,382
Unpaid principal balance of impaired loans	$	1,807,084	$	3,088,774	$	474,476	$	803,622	$	296,616	$	6,470,572
Valuation allowance related to impaired loans	$	28,702	$	282,381	$	92,433	$	26,561	$	63,856	$	493,933
Average investment in impaired loans	$	1,781,694	$	2,691,760	$	479,832	$	309,922	$	306,742	$	5,569,950
Interest income recognized on impaired loans	$	45,485	$	60,191	$	13,033	$	5,526	$	3,811	$	128,046

	December 31, 2014
	Commercial		Residential 1-4 Family		Commercial Real Estate and Multi- Family		Construction and Land		Consumer and Other		Total
Impaired loans:
Without a valuation allowance	$	22,262	$	2,734,578	$	230,238	$	581,279	$	194,798	$	3,763,155
With a valuation allowance		1,772,290		914,300		257,281		76,580		174,910		3,195,361
Recorded investment in impaired loans	$	1,794,552	$	3,648,878	$	487,519	$	657,859	$	369,708	$	6,958,516
Unpaid principal balance of impaired loans	$	1,834,400	$	4,040,905	$	487,519	$	1,183,016	$	369,867	$	7,915,707
Valuation allowance related to impaired loans	$	42,724	$	282,532	$	94,743	$	26,803	$	57,293	$	504,095
Average investment in impaired loans	$	1,836,670	$	4,233,405	$	504,017	$	950,946	$	388,824	$	7,913,862
Interest income recognized on impaired loans	$	95,095	$	200,797	$	27,397	$	29,784	$	15,076	$	368,149

Aged Analysis of Past Due Loans

The following tables present an aged analysis of past due loans:

	June 30, 2015
	30-89 Days Past Due		90 Days or more Past Due and Non- Accrual		Total Past Due		Current Loans		Total Loans		Recorded Investment ³ 90 Days Past Due and Accruing
Residential 1-4 family	$	443,798	$	998,152	$	1,441,950	$	91,235,712	$	92,677,662	$	0
Commercial real estate and multifamily		—		81,397		81,397		96,237,173		96,318,570		0
Construction and land		—		170,268		170,268		20,437,449		20,607,717		0
Commercial		34,021		—		34,021		15,580,731		15,614,752		0
Consumer and other		112,626		90,036		202,662		27,618,233		27,820,895		12,928
Total	$	590,445	$	1,339,853	$	1,930,298	$	251,109,298	$	253,039,596	$	12,928

	December 31, 2014
	30-89 Days Past Due		90 Days or more Past Due and Non- Accrual		Total Past Due		Current Loans		Total Loans		Recorded Investment ³ 90 Days Past Due and Accruing
Residential 1-4 family	$	1,177,389	$	1,368,461	$	2,545,850	$	86,580,562	$	89,126,412	$	—
Commercial real estate and multifamily		—		86,228		86,228		87,656,186		87,742,414		—
Construction and land		33,790		525,591		559,381		26,742,392		27,301,773		—
Commercial		14,448		—		14,448		14,349,097		14,363,545		—
Consumer and other		98,598		202,722		301,320		24,397,110		24,698,430		12,335
Total	$	1,324,225	$	2,183,002	$	3,507,227	$	239,725,347	$	243,232,574	$	12,335

Amount of Each Loan Classification and the Amount Categorized into Each Risk Rating Class

The following outlines the amount of each loan classification and the amount categorized into each risk rating class:

	June 30, 2015
	Pass		Special Mention		Substandard		Doubtful		Loss		Total
Residential 1-4 family	$	88,253,626	$	1,727,289	$	2,696,747	$	—	$	—	$	92,677,662
Commercial real estate and multifamily		95,844,094		—		474,476		—		—		96,318,570
Construction and land		18,709,287		1,619,965		278,465		—		—		20,607,717
Commercial		13,836,960		10,555		1,767,237		—		—		15,614,752
Consumer and other		27,266,896		257,542		296,457		—		—		27,820,895
Total	$	243,910,863	$	3,615,351	$	5,513,382	$	—	$	—	$	253,039,596

	December 31, 2014
	Pass		Special Mention		Substandard		Doubtful		Loss		Total
Residential 1-4 family	$	83,606,922	$	1,870,612	$	3,648,878	$	—	$	—	$	89,126,412
Commercial real estate and multifamily		87,254,895		—		487,519		—		—		87,742,414
Construction and land		24,981,671		1,662,243		657,859		—		—		27,301,773
Commercial		12,555,528		13,465		1,794,552		—		—		14,363,545
Consumer and other		24,062,048		266,674		369,708		—		—		24,698,430
Total	$	232,461,064	$	3,812,994	$	6,958,516	$	—	$	—	$	243,232,574

Modification of Loans as TDR

The following tables present information related to loans modified in a TDR:

	Six Months Ended June 30, 2015
	Number Of Loans		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Residential 1-4 family		—	$	—	$	—
Commercial real estate and multifamily		—		—		—
Construction and land		—		—		—
Commercial		—		—		—
Consumer and other		—		—		—
		—	$	—	$	—

	Six Months Ended June 30, 2014
	Number Of Loans		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Residential 1-4 family		—	$	—	$	—
Commercial real estate and multifamily		—		—		—
Construction and land		—		—		—
Commercial		—		—		—
Consumer and other		6		10,921		10,921
		6	$	10,921	$	10,921

Financial Receivable Modifications Subsequent Default

The following tables set forth loans modified in a TDR from July 1 through June 30, for each respective period, that subsequently defaulted (i.e., 60 days or more past due following a modification):

	Twelve Months Ended June 30, 2015
	Number Of Loans		Outstanding Recorded Investment at Default
Residential 1-4 family		—	$	—
Commercial real estate and multifamily		—		—
Construction and land		—		—
Commercial		—		—
Consumer and other		2		10,684
		2	$	10 684

	Twelve Months Ended June 30, 2014
	Number Of Loans		Outstanding Recorded Investment at Default
Residential 1-4 family		—	$	—
Commercial real estate and multifamily		—		—
Construction and land		—		—
Commercial		—		—
Consumer and other		2		11,258
		2	$	11,258