Note 14 - Income Taxes (Tables)

12 Months Ended

Mar. 31, 2017

Notes Tables

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

	March 31,
	2017			2016
Current:
Federal	$	(10,911	)	$	(19,684	)
State		(5,193	)		(5,205	)
Deferred income tax
Federal		(610,084	)		434,189
State		(131,817	)		12,391
Total	$	(758,005	)	$	421,691

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

	March 31,
	2017			2016
Tax at statutory federal income tax rate	$	(573,507	)	$	111,886
Tax effect of:
Tax-exempt income		(260,637	)		(133,030	)
State income taxes, net of federal impact		(90,427	)		4,743
Nondeductible expenses and other		166,566			438,092
Income tax (benefit) expense	$	(758,005	)	$	421,691

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

Deferred tax assets:	2017			2016
Allowance for loan losses	$	887,510		$	688,066
Nonaccrual interest		197,363			194,900
Deferred compensation		822,939			156,164
Foreclosed real estate write down and holding costs		221,010			221,010
Deferred loan costs		42,285			35,070
Capital loss carryforward		48,872			-
Charitable contribution carryforward		42,098			38,101
Net operating loss carryforward		4,414,529			625,612
Stock based payment awards		80,833			64,799
Unrealized loss on investment securities available for sale		862,673			14,410
AMT credit carryover		225,294			169,728
Acquisition activity		1,078,763			969,105
		8,924,169			3,176,965
Valuation allowance on deferred tax asset		(42,364	)		(21,218	)
		8,881,805			3,155,747
Deferred tax liabilities:
FHLB stock dividends		91,004			67,245
Goodwill and other intangible assets		717,933			588,727
Accumulated depreciation		65,193			93,576
Other		30,825			53,058
		904,955			802,606
Net deferred tax asset	$	7,976,850		$	2,353,141