Condensed Financial Information (Parent Company Only)

12 Months Ended

Dec. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Financial Information (Parent Company Only)

Note 21: Condensed Financial Information (Parent Company Only)

Presented below is condensed financial information as to financial position, results of operations and cash flows of the Company:

Condensed Balance Sheets

	December 31,
	2015		2014
Assets
Cash and due from banks	$	4,800,526	$	3,847,179
Investment in common stock of subsidiary		42,428,601		41,012,112
Loan receivable from subsidiary		216,506		254,385
Other assets		106,960		96,993
Total assets	$	47,552,593	$	45,210,669
Liabilities
Other liabilities	$	1,986,093	$	194,571
Stockholders' Equity		45,566,500		45,016,098
Total liabilities and stockholders' equity	$	47,552,593	$	45,210,669

Condensed Statements of Income and Comprehensive Income

	Year Ending December 31,
	2015			2014
Income
Dividends from subsidiary	$	2,000,000		$	2,000,000
Other income		11,712			12,245
Total income		2,011,712			2,012,245
Expenses
Other expenses		361,694			707,692
Income Before Income Tax and Equity in Undistributed Income of Subsidiary		1,650,018			1,304,553
Income Tax Benefit		(137,420	)		(271,357	)
Income Before Equity in Undistributed Income of Subsidiary		1,787,438			1,575,910
Equity in Undistributed Income of Subsidiary		1,238,685			1,396,844
Net Income	$	3,026,123		$	2,972,754
Comprehensive Income	$	3,104,981		$	5,071,201

Condensed Statements of Cash Flows

	Year Ending December 31,
	2015			2014
Operating Activities
Net income	$	3,026,123		$	2,972,754
Items not providing cash, net		(1,238,685	)		(1,396,844	)
Stock-based compensation expense		90,163			90,163
Change in other assets and liabilities, net		1,773,258			29,599
Net cash provided by operating activities		3,650,859			1,695,672
Investing Activity
Loan payment from subsidiary		37,879			36,652
Net cash provided by investing activities		37,879			36,652
Financing Activities
Dividends paid		(2,356,870	)		(570,843	)
Stock repurchase		(765,311	)		(1,028,688	)
Exercise of stock options		386,790			234,491
Net cash used in financing activities		(2,735,391	)		(1,365,040	)
Net Change in Cash and Cash Equivalents		953,347			367,284
Cash and Cash Equivalents at Beginning of Year		3,847,179			3,479,895
Cash and Cash Equivalents at End of Year	$	4,800,526		$	3,847,179