Investment Securities (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Investments [Abstract]

Schedule of Securities Available for Sale Securities

Securities Available For Sale:

December 31, 2015	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
U.S. government agency securities	$	42,074,712	$	782,567	$	214,957	$	42,642,322
State and municipal securities		2,573,844		33,840		0		2,607,684
Residential mortgage-backed securities		3,601,949		140,934		1,438		3,741,445
Corporate notes		2,496,320		0		23,360		2,472,960
Total debt securities AFS		50,746,825		957,341		239,755		51,464,411
Equity securities		12,000		0		0		12,000
Total securities AFS	$	50,758,825	$	957,341	$	239,755	$	51,476,411

December 31, 2014	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
U.S. government agency securities	$	45,121,060	$	758,874	$	387,009	$	45,492,925
State and municipal securities		880,580		0		5,913		874,667
Residential mortgage-backed securities		4,757,738		215,276		1,370		4,971,644
Corporate notes		2,495,765		4,255		1,300		2,498,720
Total securities AFS	$	53,255,143	$	978,405	$	395,592	$	53,837,956

Schedule of Securities Held to Maturity

Securities Held to Maturity:

December 31, 2015	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
State and municipal securities	$	54,775,093	$	1,124,007	$	41,153	$	55,857,947
Residential mortgage-backed securities		6,113,711		227,041		0		6,340,752
Total securities HTM	$	60,888,804	$	1,351,048	$	41,153	$	62,198,699

December 31, 2014	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
State and municipal securities	$	53,058,749	$	958,434	$	87,772	$	53,929,411
Residential mortgage-backed securities		8,529,070		382,923		0		8,911,993
Total securities HTM	$	61,587,819	$	1,341,357	$	87,772	$	62,841,404

Summary of Amortized Cost and Estimated Fair Value of Securities

The amortized cost and estimated fair value of securities at December 31, 2015 and 2014, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties.

December 31, 2015

Available for Sale:	Amortized Cost		Estimated Fair Value
Amounts maturing in:
One year or less	$	0	$	0
After one through five years		22,374,572		22,310,228
After five through ten years		22,553,504		23,222,962
After ten years		5,818,749		5,931,221
Total debt securities AFS		50,746,825		51,464,411
Equity securities		12,000		12,000
Total securities AFS	$	50,758,825	$	51,476,411

Held to Maturity:	Amortized Cost		Estimated Fair Value
Amounts maturing in:
One year or less	$	3,956,629	$	3,968,196
After one through five years		27,302,169		27,617,796
After five through ten years		21,412,080		22,253,863
After ten years		8,217,926		8,358,844
Total securities HTM	$	60,888,804	$	62,198,699

December 31, 2014

Available for Sale:	Amortized Cost		Estimated Fair Value
Amounts maturing in:
One year or less	$	0	$	0
After one through five years		18,453,816		18,260,779
After five through ten years		29,521,793		30,216,568
After ten years		5,279,534		5,360,609
Total securities AFS	$	53,255,143	$	53,837,956

Held to Maturity:	Amortized Cost		Estimated Fair Value
Amounts maturing in:
One year or less	$	3,160,887	$	3,196,256
After one through five years		28,494,335		28,780,760
After five through ten years		22,246,060		23,036,240
After ten years		7,686,537		7,828,148
Total securities HTM	$	61,587,819	$	62,841,404

Schedule of Information Pertaining to Securities Gross Unrealized Losses by Investments

Information pertaining to securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in continuous loss position, follows:

December 31, 2015	Less Than Twelve Months				Twelve Months or More
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
Securities Available for Sale
Temporarily impaired debt securities:
U.S. government agency securities	$	73,907	$	11,885,323	$	141,050	$	5,858,950
State and municipal securities		0		0		0		0
Residential mortgage-backed securities		1,438		441,997		0		0
Corporate notes		22,360		1,973,960		1,000		499,000
Total debt securities available for sale	$	97,705	$	14,301,280	$	142,050	$	6,357,950
Securities Held to Maturity
Temporarily impaired debt securities:
State and municipal securities	$	26,435	$	7,250,634	$	14,718	$	994,476
Residential mortgage-backed securities		0		0		0		0
Total securities held to maturity	$	26,435	$	7,250,634	$	14,718	$	994,476

December 31, 2014	Less Than Twelve Months				Twelve Months or More
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
Securities Available for Sale
Temporarily impaired debt securities:
U.S. government agency securities	$	17,172	$	2,630,919	$	369,837	$	19,667,408
State and municipal securities		0		0		5,913		874,667
Residential mortgage-backed securities		1,300		498,700		0		0
Corporate notes		0		0		1,370		594,923
Total securities available for sale	$	18,472	$	3,129,619	$	377,120	$	21,136,998
Securities Held to Maturity
Temporarily impaired debt securities:
State and municipal securities	$	34,956	$	9,199,455	$	52,816	$	4,130,041
Residential mortgage-backed securities		0		0		0		0
Total securities held to maturity	$	34,956	$	9,199,455	$	52,816	$	4,130,041