Securities (Tables)

12 Months Ended

Dec. 31, 2015

Investments, Debt and Equity Securities [Abstract]

Schedule of amortized cost and approximate fair values, together with gross unrealized gains and losses, of securities

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale Securities
December 31, 2015:
U.S. Government and federal agencies	$	15,979,475	$	44,972	$	(85,750	)	$	15,938,697
Mortgage-backed securities (Government-sponsored enterprises - residential)		23,067,200		211,987		(100,792	)		23,178,395
Municipal bonds		47,229,171		1,306,328		(179,259	)		48,356,240
	$	86,275,846	$	1,563,287	$	(365,801	)	$	87,473,332
December 31, 2014:
U.S. Government and federal agencies	$	10,031,683	$	65,328	$	(138,738	)	$	9,958,273
Mortgage-backed securities (Government-sponsored enterprises - residential)		41,196,695		433,757		(210,531	)		41,419,921
Municipal bonds		44,378,515		1,457,977		(529,789	)		45,306,703
	$	95,606,893	$	1,957,062	$	(879,058	)	$	96,684,897

Schedule of amortized cost and fair value of available-for-sale securities by contractual maturity

		Available-for-sale
		Amortized Cost		Fair  Value
Within one year	$	1,526,439	$	1,528,936
One to five years		11,435,457		11,703,893
Five to ten years		34,788,426		35,343,736
After ten years		15,458,324		15,718,372
		63,208,646		64,294,937
Mortgage-backed securities		23,067,200		23,178,395
Totals	$	86,275,846	$	87,473,332

Schedule of gross unrealized losses and fair value in a continuous unrealized loss position

	December 31, 2015
	Less than 12 Months					12 Months or More					Total
Description of Securities	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Available-for-sale Securities
U.S. Government agencies	$	8,591,014	$	(49,205	)	$	1,809,745	$	(36,545	)	$	10,400,759	$	(85,750	)
Mortgage-backed securities (Government-sponsored enterprises - residential)		5,843,754		(45,886	)		2,257,674		(54,906	)		8,101,428		(100,792	)
Municipal bonds		5,440,291		(48,383	)		6,734,290		(130,876	)		12,174,581		(179,259	)
Total temporarily impaired securities	$	19,875,059	$	(143,474	)	$	10,801,709	$	(222,327	)	$	30,676,768	$	(365,801	)

	December 31, 2014
	Less than 12 Months					12 Months or More					Total
Description of Securities	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Available-for-sale Securities
U.S. Government agencies	$	2,955,829	$	(28,208	)	$	3,949,940	$	(110,530	)	$	6,905,769	$	(138,738	)
Mortgage-backed securities (Government-sponsored enterprises - residential)		2,061,203		(13,358	)		13,725,099		(197,173	)		15,786,302		(210,531	)
Municipal bonds		3,953,168		(44,654	)		13,942,169		(485,135	)		17,895,337		(529,789	)
Total temporarily impaired securities	$	8,970,200	$	(86,220	)	$	31,617,208	$	(792,838	)	$	40,587,408	$	(879,058	)