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Disclosures about Fair Value of Assets (Tables)
12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Schedule of fair value measurements of assets recognized in balance sheets on recurring basis
          December 31, 2016  
          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   $ 13,333,540     $ —     $ 13,333,540     $ —  
Mortgage-backed securities (Government-sponsored enterprises - residential)     44,413,177       —       44,413,177       —  
Municipal bonds     42,414,723       —       42,414,723       —  

 

          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       —  
 
Schedule of fair value measurement of assets measured at fair value on nonrecurring basis
          December 31, 2016  
          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)   $ 1,157,329     $ —     $ —     $ 1,157,329  
Mortgage servicing rights     552,827       —       —       552,827  

 

          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  
Schedule of quantitative information about unobservable inputs used in nonrecurring level 3 fair value measurements
    Fair Value at
December 31,
2016
    Valuation
Technique
  Unobservable Inputs   Range
(Weighted
Average)
                   
Collateral-dependent impaired loans   $ 1,157,329     Market comparable properties   Marketability discount   20% – 30% (25%) 
Mortgage servicing rights   $ 552,827     Discounted cash flow   Discount rate   9% - 13.5% (10.25%)
                PSA standard prepayment model rate   104 – 300 (153)

 

    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%) 

 
Schedule of estimated fair values of other financial instruments
          December 31, 2016  
          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   $ 12,909,924     $ 12,909,924     $ —     $ —  
Interest-earning time deposits     750,000       750,000       —       —  
Other investments     55,481       —       55,481       —  
Loans held for sale     503,003       —       503,003       —  
Loans, net of allowance for loan losses     184,448,003       —       —       183,941,877  
Federal Home Loan Bank stock     363,800       —       363,800       —  
Interest receivable     1,588,545       —       1,588,545       —  
                                 
Financial liabilities                                
Deposits     258,677,960       —       178,491,424       81,241,011  
Short-term borrowings     7,135,182       —       7,135,182          
Advances from borrowers for taxes and insurance     1,102,204       —       1,102,204       —  
Interest payable     106,755       —       106,755       —  
                                 
Unrecognized financial instruments (net of contract amount)                                
Commitments to originate loans     —       —       —       —  
Letters of credit     —       —       —       —  
Lines of credit     —       —       —       —  

 

          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     —       —       —       —