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FAIR VALUES OF FINANCIAL INSTRUMENTS (Tables)
 3 Months Ended
Mar. 31, 2017
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block]
The following table sets forth by level, within the fair value hierarchy, the Company’s assets at fair value:
 
 
 
Fair Value Measurements Using
 
 
 
Quoted Prices
 
Significant
 
 
 
 
 
 
 
 
 
in Active
 
Other
 
Significant
 
 
 
 
 
 
Markets for
 
Observable
 
Unobservable
 
 
 
 
 
 
Identical Assets
 
Inputs
 
Inputs
 
 
 
 
 
 
Level 1
 
Level 2
 
Level 3
 
Fair Value
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
March 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
Recurring basis
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities
 
$
-
 
$
25,557,962
 
$
-
 
$
25,557,962
 
U.S. Government agencies
 
 
-
 
 
2,322,251
 
 
-
 
 
2,322,251
 
Municipal obligations
 
 
-
 
 
1,828,917
 
 
-
 
 
1,828,917
 
Nonrecurring basis
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans held for sale
 
 
-
 
 
7,453,804
 
 
-
 
 
7,453,804
 
Impaired loans
 
 
-
 
 
-
 
 
5,902,986
 
 
5,902,986
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Totals
 
$
-
 
$
37,162,934
 
$
5,902,986
 
$
43,065,920
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
Recurring basis
 
 
 
 
 
 
 
 
 
 
 
 
 
Mortgage-backed securities
 
$
-
 
$
27,128,396
 
$
-
 
$
27,128,396
 
U.S. Government agencies
 
 
-
 
 
2,525,737
 
 
-
 
 
2,525,737
 
Municipal obligations
 
 
-
 
 
1,844,999
 
 
-
 
 
1,844,999
 
Nonrecurring basis
 
 
 
 
 
 
 
 
 
 
 
 
 
Loans held for sale
 
 
-
 
 
14,221,163
 
 
-
 
 
14,221,163
 
Impaired loans
 
 
-
 
 
-
 
 
5,968,221
 
 
5,968,221
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Totals
 
$
-
 
$
45,720,295
 
$
5,968,221
 
$
51,688,516
 
Fair Value, by Balance Sheet Grouping [Table Text Block]
The following tables present estimated fair values of the Company’s financial instruments at March 31, 2017 and December 31, 2016.
 
 
 
 
 
 
 
 
 
Quoted Prices
 
Significant
 
 
 
 
 
 
 
 
 
 
 
 
in Active
 
Other
 
Significant
 
 
 
 
 
 
 
 
 
Markets for
 
Observable
 
Unobservable
 
 
 
Carrying
 
 
 
 
Identical Assets
 
Inputs
 
Inputs
 
 
 
Amount
 
Fair Value
 
Level 1
 
Level 2
 
Level 3
 
 
 
(Dollars in thousands)
 
At March 31, 2017
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Financial assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and due from banks
 
$
5,101
 
$
5,101
 
$
5,101
 
$
-
 
$
-
 
Interest-bearing deposits with banks
 
 
8,935
 
 
8,935
 
 
8,935
 
 
-
 
 
-
 
Available-for-sale securities
 
 
29,709
 
 
29,709
 
 
-
 
 
29,709
 
 
-
 
Loans held for sale
 
 
7,454
 
 
7,454
 
 
-
 
 
7,454
 
 
-
 
Loans held for investment, net
 
 
257,730
 
 
258,113
 
 
-
 
 
-
 
 
258,113
 
Stock in financial institutions
 
 
3,586
 
 
3,586
 
 
-
 
 
3,586
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Financial liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Demand deposits, savings and NOW deposits
 
 
169,867
 
 
164,076
 
 
-
 
 
164,076
 
 
-
 
Time deposits
 
 
60,300
 
 
60,304
 
 
-
 
 
60,304
 
 
-
 
Federal Home Loan Bank advances
 
 
50,000
 
 
50,081
 
 
-
 
 
50,081
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
At December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Financial assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and due from banks
 
$
4,766
 
$
4,766
 
$
4,766
 
$
-
 
$
-
 
Interest-bearing deposits with banks
 
 
11,645
 
 
11,645
 
 
11,645
 
 
-
 
 
-
 
Available-for-sale securities
 
 
31,499
 
 
31,499
 
 
-
 
 
31,499
 
 
-
 
Loans held for sale
 
 
14,221
 
 
14,221
 
 
-
 
 
14,221
 
 
-
 
Loans held for investment, net
 
 
241,399
 
 
241,440
 
 
-
 
 
-
 
 
241,440
 
Stock in financial institutions
 
 
3,575
 
 
3,575
 
 
-
 
 
3,575
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Financial liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Demand deposits, savings and NOW deposits
 
 
160,961
 
 
156,529
 
 
156,529
 
 
-
 
 
-
 
Time deposits
 
 
63,561
 
 
63,588
 
 
-
 
 
63,588
 
 
-
 
Federal Home Loan Bank advances
 
 
50,000
 
 
50,176
 
 
-
 
 
50,176
 
 
-