Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2017

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, 2017 and December 31, 2016.

March 31, 2017	Level 1		Level 2		Level 3		Total
Investment securities available for sale:
U.S. government treasury securities	$	0	$	966,020	$	0	$	966,020
U.S. government agency securities		0		47,018,234		0		47,018,234
State and municipal securities		0		6,696,861		0		6,696,861
Residential mortgage-backed securities		0		2,358,756		0		2,358,756
Corporate notes		0		2,551,660		0		2,551,660
Equity securities		0		100,380		0		100,380
Total	$	0	$	59,691,911	$	0	$	59,691,911

December 31, 2016	Level 1		Level 2		Level 3		Total
Investment securities available for sale:
U.S. government treasury securities	$	0	$	962,150	$	0	$	962,150
U.S. government agency securities		0		40,984,897		0		40,984,897
State and municipal securities		0		6,452,597		0		6,452,597
Residential mortgage-backed securities		0		2,529,314		0		2,529,314
Corporate notes		0		2,524,165		0		2,524,165
Equity securities		0		112,380		0		112,380
Total	$	0	$	53,565,503	$	0	$	53,565,503

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, 2017, and December 31, 2016.

March 31, 2017	Level 1		Level 2		Level 3		Total
Foreclosed assets	$	0	$	0	$	126,713	$	126,713
Impaired loans		0		0		3,087,571		3,087,571
Total assets at fair value	$	0	$	0	$	3,214,284	$	3,214,284

December 31, 2016	Level 1		Level 2		Level 3		Total
Foreclosed assets	$	0	$	0	$	126,713	$	126,713
Impaired loans		0		0		3,011,472		3,011,472
Total assets at fair value	$	0	$	0	$	3,138,185	$	3,138,185

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, 2017, and December 31, 2016, are as follows:

			Estimated Fair Value
March 31, 2017	Carrying Amount		Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Assets:
Cash and cash equivalents	$	25,240	$	25,240	$	0	$	0	$	25,240
Certificates of deposit in other banks		1,235		1,235		0		0		1,235
Investment securities available for sale		59,692		0		59,692		0		59,692
Investment securities held to maturity		52,698		0		53,438		0		53,438
Federal Home Loan Bank stock		1,905		0		1,905		0		1,905
Loans, net		307,545		0		304,793		3,088		307,881
Liabilities:
Deposits		393,007		0		393,261		0		393,261
Federal Home Loan Bank advances		34,476		0		34,329		0		34,329

			Estimated Fair Value
December 31, 2016	Carrying Amount		Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Assets:
Cash and cash equivalents	$	26,520	$	26,520	$	0	$	0	$	26,520
Certificates of deposit in other banks		0		0		0		0		0
Investment securities available for sale		53,566		0		53,566		0		53,566
Investment securities held to maturity		54,603		0		55,123		0		55,123
Federal Home Loan Bank stock		1,874		0		1,874		0		1,874
Loans, net		289,400		0		286,869		3,011		289,880
Liabilities:
Deposits		371,493		0		371,793		0		371,793
Federal Home Loan Bank advances		34,476		0		34,337		0		34,337