Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Schedule of Assets Recorded at Fair Value on a Recurring Basis

The table below presents the recorded amount of assets measured at fair value on a recurring basis as of March 31, 2015 and December 31, 2014.

March 31, 2015	Level 1		Level 2		Level 3		Total
Investment securities available for sale:
U.S. Government Agency securities	$	0	$	46,182,433	$	0	$	46,182,433
State and municipal securities		0		1,946,623		0		1,946,623
Residential mortgage-backed securities		0		4,671,097		0		4,671,097
Corporate notes		0		2,512,555		0		2,512,555
Total	$	0	$	55,312,708	$	0	$	55,312,708

December 31, 2014	Level 1		Level 2		Level 3		Total
Investment securities available for sale:
U.S. Government Agency securities	$	0	$	45,492,925	$	0	$	45,492,925
State and municipal securities		0		874,667		0		874,667
Residential mortgage-backed securities		0		4,971,644		0		4,971,644
Corporate notes		0		2,498,720		0		2,498,720
Total	$	0	$	53,837,956	$	0	$	53,837,956

Schedule of Fair Value of Assets Recorded on a Nonrecurring Basis

Assets measured at fair value on a nonrecurring basis are included in the table below as of March 31, 2015 and December 31, 2014.

March 31, 2015	Level 1		Level 2		Level 3		Total
Foreclosed assets	$	0	$	0	$	186,391	$	186,391
Impaired loans		0		0		4,222,153		4,222,153
Total assets at fair value	$	0	$	0	$	4,408,544	$	4,408,544

December 31, 2014	Level 1		Level 2		Level 3		Total
Foreclosed assets	$	0	$	0	$	273,653	$	273,653
Impaired loans		0		0		3,648,143		3,648,143
Total assets at fair value	$	0	$	0	$	3,921,796	$	3,921,796

Schedule of Carrying and Estimated Fair Value of Assets and Liabilities Recorded at Fair Value

The carrying amount and estimated fair values of the Corporation’s assets and liabilities which are required to be either disclosed or recorded at fair value at March 31, 2015, and December 31, 2014, are as follows:

			Estimated Fair Value
March 31, 2015	Carrying Amount		Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Assets:
Cash and cash equivalents	$	29,654	$	29,654	$	0	$	0	$	29,654
Certificates of deposit in other banks		1,470		1,470		0		0		1,470
Investment securities available for sale		55,313		0		55,313		0		55,313
Investment securities held to maturity		63,397		0		64,893		0		64,893
Federal Home Loan Bank stock		1,560		0		1,560		0		1,560
Loans, net		227,026		0		222,104		4,222		226,326
Liabilities:
Deposits		334,783		0		335,054		0		335,054
FHLB advances		27,200		0		27,575		0		27,575

			Estimated Fair Value
December 31, 2014	Carrying Amount		Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Assets:
Cash and cash equivalents	$	12,559	$	12,559	$	0	$	0	$	12,559
Certificates of deposit in other banks		1,470		1,470		0		0		1,470
Investment securities available for sale		53,838		0		53,838		0		53,838
Investment securities held to maturity		61,588		0		62,841		0		62,841
Federal Home Loan Bank stock		1,560		0		1,560		0		1,560
Loans, net		221,286		0		217,651		3,648		221,299
Liabilities:
Deposits		309,974		0		310,234		0		310,234
FHLB advances		27,200		0		27,621		0		27,621