Note 11 - Fair Value Measurement and Disclosure (Tables)

9 Months Ended

Sep. 30, 2016

Notes Tables

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

							Total
September 30, 2016	Level 1		Level 2		Level 3		Fair Value
State and municipal securities available for sale	$	-	$	19,013,596	$	-	$	19,013,596
Residential mortgage-backed securities available for sale		-		25,135,943		-		25,135,943
	$	-	$	44,149,539	$	-	$	44,149,539

							Total
December 31, 2015	Level 1		Level 2		Level 3		Fair Value
State and municipal securities available for sale	$	-	$	19,237,208	$	-	$	19,237,208
Residential mortgage-backed securities available for sale		-		27,747,699		-		27,747,699
	$	-	$	46,984,907	$	-	$	46,984,907

Fair Value Measurements, Nonrecurring [Table Text Block]

							Total
September 30, 2016	Level 1		Level 2		Level 3		Fair Value
Foreclosed assets	$	-	$	-	$	74,753	$	74,753
Impaired loans, net		-		-		2,584,583		2,584,583

							Total
December 31, 2015	Level 1		Level 2		Level 3		Fair Value
Foreclosed assets	$	-	$	-	$	330,245	$	330,245
Impaired loans, net		-		-		2,277,918		2,277,918

Fair Value Inputs, Assets, Quantitative Information [Table Text Block]

	Quantitative Information about Level 3 Fair Value Measurements
	Fair Value		Valuation	Unobservable
	Estimate		Techniques	Input	Range
September 30, 2016
Foreclosed assets	$	74,753	Appraisal of collateral	Appraisal adjustments		-23%	to	-50%
Impaired loans, net	$	2,271,952	Appraisal of collateral	Appraisal adjustments		-29.9	to	-74.5%
Impaired loans, net	$	312,631	Discounted Future Cash Flows	Payment Stream			N/A
				Discount Rate			10%
December 31, 2015
Foreclosed assets	$	330,245	Appraisal of collateral	Appraisal adjustments		-6.7%	to	-63.6%
Impaired loans, net	$	2,170,027	Appraisal of collateral	Appraisal adjustments		-10%	to	-70%
Impaired loans, net	$	107,891	Discounted Future Cash Flows	Payment Stream			N/A
				Discount Rate			10%

Fair Value, by Balance Sheet Grouping [Table Text Block]

			Fair Value Measurements at
	Carrying		September 30, 2016 using:
	Amount		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and cash equivalents	$	4,469,007	$	4,469,007	$	-	$	-	$	4,469,007
Time deposits		250,000		250,000		-		-		250,000
Federal funds sold		54,351,000		54,351,000		-		-		54,351,000
Securities		44,902,860		-		44,149,539		753,321		44,902,860
Accrued interest receivable		800,249		800,249		-		-		800,249
Net loans		154,943,940		-		-		156,571,000		156,571,000
Loans held for sale		710,700		710,700		-		-		710,700
Mortgage servicing rights		328,360		-		-		328,360		328,360
Financial Liabilities:
Non-interest bearing deposits		10,285,561		10,285,561		-		-		10,285,561
Interest bearing deposits		221,601,449		-		-		213,131,439		213,131,439
Accrued interest payable		1,697		1,697		-		-		1,697
FHLB advances		8,630,697		-		8,630,697		-		8,630,697

	Carrying		December 31, 2015 using:
	Amount		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and cash equivalents	$	7,135,719	$	7,135,719	$	-	$	-	$	7,135,719
Time deposits		250,000		250,000		-		-		250,000
Federal funds sold		1,604,000		1,604,000		-		-		1,604,000
Securities		48,343,028		-		46,984,907		1,358,121		48,343,028
Accrued interest receivable		775,641		775,641		-		-		775,641
Net loans		140,110,201		-		-		141,665,000		141,665,000
Loans held for sale		-		-		-		-		-
Mortgage servicing rights		285,927		-		-		285,927		285,927
Financial Liabilities:
Non-interest bearing deposits		10,325,832		10,325,832		-		-		10,325,832
Interest bearing deposits		166,409,076		-		-		161,173,168		161,173,168
Accrued interest payable		394		394		-		-		394
FHLB advances		2,139,117		-		2,139,117		-		2,139,117