Note 7 - Fair Values of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2018

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, 2018:
Recurring basis
Mortgage-backed securities	$	-	$	23,360,230		$	-	$	23,360,230
U.S. Government agencies		-		1,507,514			-		1,507,514
Municipal obligations		-		3,062,523			-		3,062,523
Loans held for sale		-		20,219,237			-		20,219,237
Derivative IRLC's		-					336,041		336,041
Derivative forward commitments		-		44,141			-		44,141
Nonrecurring basis
Impaired loans		-		-			5,344,477		5,344,477
Totals	$	-	$	48,193,645		$	5,680,518	$	53,874,163
December 31, 2017:
Recurring basis
Mortgage-backed securities	$	-	$	20,768,592		$	-	$	20,768,592
U.S. Government agencies		-		1,957,783			-		1,957,783
Municipal obligations		-		1,673,506			-		1,673,506
Loans held for sale		-		15,423,670			-		15,423,670
Derivative IRLC's		-					183,087		183,087
Derivative forward commitments		-		(15,820	)		-		(15,820	)
Nonrecurring basis
Impaired loans		-		-			5,436,972		5,436,972
Totals	$	-	$	39,807,731		$	5,620,059	$	45,427,790

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

	Fair Value		Valuation Methodologies	Valuation Model	Unobservable Input Valuation
At September 30, 2018
Impaired loans
Commercial real estate	$	3,571,208	Appraisal	Appraisal discount and estimated selling costs	17	-	18%
One- to four-family residential real estate		663,580	Appraisal	Appraisal discount and estimated selling costs	17	-	18%
Commercial and industrial		1,109,689	Appraisal	Appraisal discount and estimated selling costs	17	-	18%
Total Impaired Loans	$	5,344,477
Derivative IRLC's	$	336,041	Internal pricing model	Pull-through rate	81%
At December 31, 2017
Impaired loans
Commercial real estate	$	3,483,078	Appraisal	Appraisal discount and estimated selling costs	17	-	18%
One- to four-family residential real estate		679,184	Appraisal	Appraisal discount and estimated selling costs	17	-	18%
Commercial and industrial		1,274,710	Appraisal	Appraisal discount and estimated selling costs	17	-	18%
	$	5,436,972

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, 2018:
Financial assets:
Cash and due from banks	$	6,195	$	6,195	$	6,195	$	-	$	-
Interest-bearing deposits with banks		9,205		9,205		9,205		-		-
Available-for-sale securities		27,930		27,930		-		27,930		-
Loans held for sale		20,219		20,219		-		20,219		-
Loans held for investment, net		280,230		280,940		-		-		280,940
Derivative IRLC's		336		336		-		-		336
Derivative forward commitments		44		44		-		44		-
Stock in financial institutions		3,884		3,884		-		3,884		-
Financial liabilities:
Demand deposits, savings and NOW deposits		177,646		162,325		162,325		-		-
Time deposits		73,868		73,830		-		73,830		-
Federal Home Loan Bank advances		70,000		69,462		-		69,462		-
At December 31, 2017
Financial assets:
Cash and due from banks	$	4,988	$	4,988	$	4,988	$	-	$	-
Interest-bearing deposits with banks		4,885		4,885		4,885		-		-
Available-for-sale securities		24,400		24,400		-		24,400		-
Loans held for sale		15,424		15,424		-		15,424		-
Loans held for investment, net		257,896		257,937		-		-		257,937
Stock in financial institutions		3,826		3,826		-		3,826		-
Financial liabilities:
Demand deposits, savings and NOW deposits		172,512		168,080		168,080		-		-
Time deposits		63,049		63,076		-		63,076		-
Federal Home Loan Bank advances		45,000		45,176		-		45,176		-