Note 14 - Income Taxes (Tables)

12 Months Ended

Mar. 31, 2018

Notes Tables

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

	Year Ended March 31,
	2018			2017
Tax expense (benefit):
Current:
Federal	$	(22,566	)	$	(10,911	)
State	$	(6,599	)		(5,193	)
Deferred tax		8,081,203			(741,901	)
Total tax expense (benefit)	$	8,052,038		$	(758,005	)

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

	Year Ended March 31,
	2018			2017
Tax at statutory federal income tax rate	$	615,952		$	(573,507	)
Tax effect of:
Tax-exempt income		(491,456	)		(260,637	)
State income taxes, net of federal impact		42,442			(90,427	)
Valuation allowance on income tax benefits		5,790,102			-
Impact of the Tax Act		2,318,118			-
Nondeductible expenses and other		55,397			166,566
Other		(278,517	)		-
Income tax expense (benefit)	$	8,052,038		$	(758,005	)

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

	2018			2017
Deferred tax assets:
Allowance for loan losses	$	627,297		$	887,510
Nonaccrual interest		219,172			197,363
Deferred compensation		547,968			822,939
Foreclosed real estate write down and holding costs		162,973			221,010
Deferred loan costs		34,870			42,285
Capital loss carryforward		-			48,872
Charitable contribution carryforward		28,272			42,098
Net operating loss carryforward		3,227,274			4,414,529
Stock based payment awards		66,968			80,833
Unrealized loss on investment securities available for sale		728,266			862,673
AMT credit carryover		245,260			225,294
Acquisition activity		510,506			1,078,763
Other		39,692			-
		6,438,518			8,924,169
Valuation allowance on deferred tax asset		(5,790,102	)		(42,364	)
		648,416			8,881,805
Deferred tax liabilities:
FHLB stock dividends		63,486			91,004
Goodwill and other intangible assets		522,993			717,933
Accumulated depreciation		61,937			65,193
Other		-			30,825
		648,416			904,955
Net deferred tax asset	$	-		$	7,976,850