Note 6 - Fair Values of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2017

Notes Tables

Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block]

	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
September 30, 2017
Recurring basis
Mortgage-backed securities	$	-	$	22,994,426	$	-	$	22,994,426
U.S. Government agencies		-		2,031,252		-		2,031,252
Municipal obligations		-		1,689,831		-		1,689,83
Derivative assets (IRLC's)		-		-		235,401		235,401
Derivative assets (MBS forward trades)		-		21,016		-		21,016
Nonrecurring basis
Loans held for sale		-		10,479,140		-		10,479,140
Impaired loans		-		-		5,802,626		5,802,626
Totals	$	-	$	37,215,665	$	6,038,027	$	43,253,692
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]

					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 September 30, 2017
Financial assets:
Cash and due from banks	$	8,566	$	8,566	$	8,566	$	-	$	-
Interest-bearing deposits with banks		26,330		26,330		26,330		-		-
Available-for-sale securities		26,716		26,716		-		26,716		-
Loans held for sale		10,479		10,479		-		10,479		-
Loans held for investment, net		266,057		266,301		-		-		266,301
Stock in financial institutions		3,809		3,809		-		3,809		-
Derivative assets (IRLC's)		235,401		235,401		-		-		235,401
Derivative assets (MBS forward trades)		21,016		21,016		-		21,016		-
Financial liabilities:
Demand deposits, savings and NOW deposits		169,509		162,458		162,458		-		-
Time deposits		70,629		70,426		-		70,426		-
Federal Home Loan Bank advances		67,000		66,968		-		66,968		-
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		-