Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2015 and December 31, 2014.

September 30, 2015	Level 1		Level 2		Level 3		Total
Investment securities available for sale:
U.S. Government Agency securities	$	0	$	41,106,439	$	0	$	41,106,439
State and municipal securities		0		1,946,489		0		1,946,489
Residential mortgage-backed securities		0		4,019,239		0		4,019,239
Corporate notes		0		2,504,670		0		2,504,670
Equity securities		0		12,000		0		12,000
Total	$	0	$	49,588,837	$	0	$	49,588,837

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 September 30, 2015 and December 31, 2014.

September 30, 2015	Level 1		Level 2		Level 3		Total
Foreclosed assets	$	0	$	0	$	0	$	0
Impaired loans		0		0		3,331,232		3,331,232
Total assets at fair value	$	0	$	0	$	3,331,232	$	3,331,232

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 September 30, 2015, and December 31, 2014, are as follows:

			Estimated Fair Value
September 30, 2015	Carrying Amount		Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Assets:
Cash and cash equivalents	$	21,298	$	21,298	$	0	$	0	$	21,298
Certificates of deposit in other banks		1,225		1,225		0		0		1,225
Investment securities available for sale		49,589		0		49,589		0		49,589
Investment securities held to maturity		61,337		0		62,637		0		62,637
Federal Home Loan Bank stock		1,614		0		1,614		0		1,614
Loans, net		235,906		0		230,672		3,331		234,003
Liabilities:
Deposits		322,772		0		323,080		0		323,080
FHLB advances		30,067		0		30,648		0		30,648

			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