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Disclosures about Fair Value of Assets (Tables)
12 Months Ended
Dec. 31, 2015
Fair Value Disclosures [Abstract]  
Schedule of fair value measurements of assets recognized in balance sheets on recurring basis
 
          December 31, 2015  
          Fair Value Measurements Using  
    Fair Value     Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
    Significant
Other
Observable
Inputs
(Level 2)
    Significant
Unobservable
Inputs
(Level 3)
 
                         
U.S. Government agencies   $  15,938,697     $ —     $  15,938,697     $ —  
Mortgage-backed securities (Government-sponsored enterprises - residential)     23,178,395       —       23,178,395       —  
Municipal bonds     48,356,240       —       48,356,240       —  

 

          December 31, 2014  
          Fair Value Measurements Using  
    Fair Value     Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
    Significant
Other
Observable
Inputs
(Level 2)
    Significant
Unobservable
Inputs
(Level 3)
 
                         
U.S. Government 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
 
          December 31, 2015  
          Fair Value Measurements Using  
    Fair Value     Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
    Significant
Other
Observable
Inputs
(Level 2)
    Significant
Unobservable
Inputs
(Level 3)
 
                         
Impaired loans (collateral dependent)   $ 899,981     $ —     $ —     $ 899,981  
 

 

          December 31, 2014  
          Fair Value Measurements Using  
    Fair Value     Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
    Significant
Other
Observable
Inputs
(Level 2)
    Significant
Unobservable
Inputs
(Level 3)
 
                         
Impaired loans (collateral dependent)   $ 1,147,400     $ —     $ —     $ 1,147,400  
Schedule of quantitative information about unobservable inputs used in nonrecurring level 3 fair value measurements
 
    Fair Value at
December 31,
2015
    Valuation
Technique
  Unobservable Inputs   Range
(Weighted
Average)
                   
Collateral-dependent impaired loans   $ 899,981     Market comparable properties   Marketability discount   20% – 30% (25%)

 

    Fair Value at
December 31,
2014
    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 instruments
 
          December 31, 2015  
          Fair Value Measurements Using  
    Carrying
Amount
    Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
    Significant
Other
Observable
Inputs
(Level 2)
    Significant
Unobservable
Inputs
(Level 3)
 
                         
Financial assets                                
Cash and cash equivalents   $ 4,103,432     $ 4,103,432     $ —     $ —  
Interest-earning time deposits     2,724,000       2,724,000       —       —  
Other investments     62,223       —       62,223       —  
Loans held for sale     539,000       —       539,000       —  
Loans, net of allowance for loan losses      193,039,879       —       —       193,006,301  
Federal Home Loan Bank stock     1,113,800       —       1,113,800       —  
Interest receivable     1,715,676       —       1,715,676       —  
                                 
Financial liabilities                                
Deposits     239,281,930       —       160,227,406       80,300,060  
Short-term borrowings     15,131,710       —       6,631,710       8,500,000  
Advances from borrowers for taxes and insurance     990,917       —       990,917       —  
Interest payable     118,335       —       118,335       —  
                                 
Unrecognized financial instruments (net of contract amount)                                
Commitments to originate loans     —       —       —       —  
Letters of credit     —       —       —       —  
Lines of credit     —       —       —       —  
 

 

          December 31, 2014  
          Fair Value Measurements Using  
    Carrying
Amount
    Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)
    Significant
Other
Observable
Inputs
(Level 2)
    Significant
Unobservable
Inputs
(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     —       —       —       —