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DISCLOSURES ABOUT FAIR VALUE OF ASSETS AND LIABILITIES (Tables)
 6 Months Ended
Jun. 30, 2015
Fair Value Disclosures [Abstract]  
Schedule of fair value measurements of assets recognized in balance sheets measured at fair value on recurring basis
        June 30, 2015
        Fair Value Measurements Using
            Quoted Prices                
            in Active     Significant          
            Markets  for     Other       Significant  
            Identical     Observable       Unobservable   
            Assets     Inputs       Inputs  
    Fair Value (Level 1)   (Level 2)     (Level 3)  
U.S. Government and agencies   $ 14,246,591   $ -   $ 14,246,591     $ -  
Mortgage-backed securities (Government sponsored enterprises - residential)     33,026,453     -     33,026,453       -  
Municipal bonds     42,306,666     -     42,306,666       -  

 
 
        December 31, 2014
        Fair Value Measurements Using
            Quoted Prices                
            in Active     Significant          
            Markets  for     Other       Significant  
            Identical     Observable       Unobservable   
            Assets     Inputs       Inputs  
    Fair Value   (Level 1)   (Level 2)     (Level 3)  
U.S. Government and agencies   $ 9,958,273   $ -   $ 9,958,273     $ -  
Mortgage-backed securities (Government sponsored enterprises - residential)     41,419,921     -     41,419,921       -  
Municipal bonds     45,306,703     -     45,306,703       -  
Schedule of fair value measurement of assets measured at fair value on nonrecurring basis
        June 30, 2015
        Fair Value Measurements Using
            Quoted Prices                
            in Active     Significant          
            Markets  for     Other       Significant  
            Identical     Observable       Unobservable   
            Assets     Inputs       Inputs  
    Fair Value     (Level 1)     (Level 2)       (Level 3)  
Impaired loans (collateral dependent)   $ 994,160   $ -   $  -     $ 994,160  
Foreclosed assets     293,982     -     -       293,982  

 

        December 31, 2014
        Fair Value Measurements Using
            Quoted Prices                
            in Active     Significant          
            Markets  for     Other       Significant  
            Identical     Observable       Unobservable   
            Assets     Inputs       Inputs  
    Fair Value     (Level 1)     (Level 2)       (Level 3)  
Impaired loans (collateral dependent)   $ 1,147,400   $ -   $ -     $ 1,147,400  
Schedule of quantitative information about unobservable inputs used in recurring and nonrecurring level 3 fair value measurements
    Fair Value at 
6/30/15		   Valuation 
Technique		   Unobservable Inputs   Range (Weighted 
Average)
                         
Foreclosed assets   $ 293,982     Market comparable properties   Comparability adjustments (%)     30%
Collateral-dependent impaired loans     994,160     Market comparable properties   Marketability discount     25% – 50% (40%)  

  

    Fair Value at 
12/31/14		   Valuation 
Technique		   Unobservable Inputs   Range (Weighted 
Average)
                         
Collateral-dependent impaired loans     1,147,400     Market comparable properties   Marketability discount     20% – 30% (25%)  
Schedule of estimated fair values of other financial instrument
          June 30, 2015
          Fair Value Measurements Using
            Quoted Prices     Significant          
            in Active     Other     Significant  
            Markets for     Observable     Unobservable  
    Carrying     Identical Assets     Inputs     Inputs  
    Amount     (Level 1)     (Level 2)     (Level 3)  
Financial Assets                                
Cash and cash equivalents   $ 8,030,015     $ 8,030,015     $ -     $ -  
Interest-earning time deposits in banks   $ 1,974,000       -       1,974,000       -  
Other investments     69,471       -       69,471       -  
Loans held for sale     237,364       -       237,364       -  
Loans, net of allowance for loan losses     184,857,849       -       -       184,568,000  
Federal Home Loan Bank stock     1,113,800       -       1,113,800       -  
Interest receivable     1,891,038       -       1,891,038       -  
Financial Liabilities                                
Deposits     238,523,871       -       152,036,136       88,395,989  
Short-term borrowings     14,548,788       -       9,548,788       4,995,194  
Advances from borrowers for taxes and insurance     1,029,019       -       1,029,019       -  
Interest payable     143,081       -       143,081       -  
Unrecognized financial instruments (net of contract amount)                                
Commitments to originate loans     -       -       -       -  
Letters of credit     -       -       -       -  
Lines of credit     -       -       -       -  
 

 

        December 31, 2014
        Fair Value Measurements Using  
              Quoted Prices       Significant          
              in Active       Other       Significant  
              Markets for       Observable       Unobservable  
      Carrying       Identical Assets       Inputs       Inputs  
      Amount       (Level 1)       (Level 2)       (Level 3)  
Financial Assets                                
    Cash and cash equivalents   $ 9,611,638     $ 9,611,638     $ -     $ -  
    Other investments     73,766       -       73,766       -  
    Loans held for sale     235,600       -       235,600       -  
    Loans, net of allowance for loan losses     184,718,612       -       -       184,573,401  
    Federal Home Loan Bank stock     1,113,800       -       1,113,800       -  
    Interest receivable     1,713,243       -       1,713,243       -  
Financial Liabilities                                
    Deposits     245,941,562       -       151,341,999       96,956,400  
    Short-term borrowings     13,821,730       -       8,821,730       4,996,109  
    Advances from borrowers for taxes                                
      and insurance     962,762       -       962,762       -  
    Interest payable     166,052       -       166,052       -  
Unrecognized financial instruments (net                                
  of contract amount)                                
    Commitments to originate loans     -       -       -       -  
    Letters of credit     -       -       -       -  
    Lines of credit     -       -       -       -