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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2016
Dec. 31, 2015
ASSETS    
Cash and cash equivalents $ 7,442,323 $ 4,103,432
Interest-earning time deposits in banks 2,724,000 2,724,000
Investment securities - available for sale 61,724,702 64,294,937
Mortgage-backed securities - available for sale 20,673,085 23,178,395
Federal Home Loan Bank stock 1,113,800 1,113,800
Other investment securities 60,007 62,223
Loans held for sale - net 112,449 539,000
Loans receivable - net of allowance for loan losses of $2,934,691 and $2,919,594 as of March 31, 2016 and December 31, 2015 188,691,035 193,039,879
Premises and equipment - net 4,645,944 4,728,157
Cash surrender value of life insurance 7,138,566 7,093,640
Accrued interest receivable 1,851,308 1,715,676
Goodwill 2,726,567 2,726,567
Capitalized mortgage servicing rights, net of valuation allowance of $44,028 and $47,354 as of March 31, 2016 and December 31, 2015 591,590 597,713
Real estate owned 304,280 330,981
Deferred income taxes 1,503,983 1,583,067
Other assets 773,019 811,007
Total Assets 302,076,658 308,642,474
LIABILITIES AND STOCKHOLDERS' EQUITY    
Deposits 243,908,970 239,281,930
Other borrowings 3,946,947 15,131,710
Advance payments by borrowers for taxes and insurance 1,511,505 990,917
Accrued interest payable 106,747 118,335
Deferred compensation payable 4,543,138 4,492,594
Income taxes payable 28,001 49,291
Dividends payable 179,201 1,934,834
Other liabilities 1,325,779 1,076,363
Total liabilities $ 255,550,288 $ 263,075,974
Commitments and contingencies
Preferred stock, $0.01 par value - authorized 10,000,000 shares; none issued and outstanding
Common stock, $0.01 par value - authorized 25,000,000 shares; issued 1,792,013 shares as of March 31, 2016 and 1,791,513 as of December 31, 2015 $ 17,920 $ 17,915
Additional paid-in-capital 13,704,026 13,664,914
Retained earnings 31,980,207 31,305,040
Less: Unallocated ESOP shares (205,730) (211,710)
Accumulated other comprehensive income 1,029,947 790,341
Total stockholders' equity 46,526,370 45,566,500
Total Liabilities and Stockholders' Equity $ 302,076,658 $ 308,642,474