Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2016

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, 2016 and December 31, 2015.

March 31, 2016	Level 1		Level 2		Level 3		Total
Investment securities available for sale:
U.S. government agency securities	$	0	$	32,953,492	$	0	$	32,953,492
State and municipal securities		0		2,629,829		0		2,629,829
Residential mortgage-backed securities		0		3,190,487		0		3,190,487
Corporate notes		0		2,468,815		0		2,468,815
Equity securities		0		12,000		0		12,000
Total	$	0	$	41,254,623	$	0	$	41,254,623

December 31, 2015	Level 1		Level 2		Level 3		Total
Investment securities available for sale:
U.S. government agency securities	$	0	$	42,642,322	$	0	$	42,642,322
State and municipal securities		0		2,607,684		0		2,607,684
Residential mortgage-backed securities		0		3,741,445		0		3,741,445
Corporate notes		0		2,472,960		0		2,472,960
Equity securities		0		12,000		0		12,000
Total	$	0	$	51,476,411	$	0	$	51,476,411

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, 2016 and December 31, 2015.

March 31, 2016	Level 1		Level 2		Level 3		Total
Foreclosed assets	$	0	$	0	$	81,750	$	81,750
Impaired loans		0		0		2,547,634		2,547,634
Total assets at fair value	$	0	$	0	$	2,629,384	$	2,629,384

December 31, 2015	Level 1		Level 2		Level 3		Total
Foreclosed assets	$	0	$	0	$	81,750	$	81,750
Impaired loans		0		0		5,254,501		5,254,501
Total assets at fair value	$	0	$	0	$	5,336,251	$	5,336,251

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, 2016, and December 31, 2015, are as follows:

			Estimated Fair Value
March 31, 2016	Carrying Amount		Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Assets:
Cash and cash equivalents	$	17,362	$	17,362	$	0	$	0	$	17,362
Investment securities available for sale		41,255		0		41,255		0		41,255
Investment securities held to maturity		59,373		0		61,006		0		61,006
Federal Home Loan Bank stock		1,905		0		1,905		0		1,905
Loans, net		267,702		0		266,643		2,548		269,191
Liabilities:
Deposits		331,405		0		331,739		0		331,739
Federal Home Loan Bank advances		36,067		0		36,191		0		36,191

			Estimated Fair Value
December 31, 2015	Carrying Amount		Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Assets:
Cash and cash equivalents	$	31,080	$	31,080	$	0	$	0	$	31,080
Certificates of deposit in other banks		245		245		0		0		245
Investment securities available for sale		51,476		0		51,476		0		51,476
Investment securities held to maturity		60,889		0		62,199		0		62,199
Federal Home Loan Bank stock		1,869		0		1,869		0		1,869
Loans, net		247,754		0		243,460		5,255		248,715
Liabilities:
Deposits		339,016		0		339,337		0		339,337
Federal Home Loan Bank advances		36,067		0		35,964		0		35,964