Note 14 - Income Taxes (Tables)

12 Months Ended

Mar. 31, 2016

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	March 31,
	2016			2015
Current:
Federal	$	(19,684	)	$	111,039
State		(5,205	)		(16,776	)
Deferred income tax		446,580			(431,616	)
Total	$	421,691		$	(337,353	)

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	March 31,
	2016			2015
Tax at statutory federal income tax rate	$	111,886		$	(221,565	)
Tax effect of:
Tax-exempt income		(133,030	)		(160,891	)
State income taxes, net of federal benefit		67,785			(2,419	)
Nondeductible expenses and other		375,050			47,522
Income tax expense	$	421,691		$	(337,353	)

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	2016			2015
Deferred tax assets:
Allowance for loan losses	$	688,066		$	679,643
Nonaccrual interest		194,900			216,259
Deferred compensation		156,164			218,424
Foreclosed real estate write down and holding costs		221,010			221,010
Deferred loan costs		35,070			45,911
Charitable contribution carryforward		38,101			33,953
Net operating loss carryforward		625,612			529,318
Stock based payment awards		64,799			45,609
Unrealized loss on investment securities available for sale		14,410			196,274
AMT credit carryover		169,728			170,033
Acquisition activity		969,105			-
Accumulated depreciation		-			43,078
		3,176,965			2,399,512
Valuation allowance on deferred tax asset		(21,218	)		(10,509	)
		3,155,747			2,389,003
Deferred tax liabilities:
FHLB stock dividends		67,245			67,245
Goodwill and other intangible assets		588,727			317,926
Accumulated depreciation		93,576
Other		52,858			41,982
		802,406			427,153
Net deferred tax asset	$	2,353,341		$	1,961,850