Note 4 - Fair Value: Fair Value Measurements, by Fair Value hierarchy (Tables)

9 Months Ended

Sep. 30, 2017

Fair Value Measurements, by Fair Value hierarchy

		Fair Value Measurements at Reporting Date Using
		Quoted Prices
		In Active	Significant
		Markets for	Other	Significant
		Identical	Observable	Unobservable
	September 30,	Assets	Inputs	Inputs
Description	2017	(Level 1)	(Level 2)	(Level 3)

Corporate securities	$ 445,325	$ 445,325	$ --	$ --
Mutual funds	10,275,674	10,275,674	--
Obligations of states and political subdivisions	187,909,036	--	187,909,036	--
Total	$ 198,630,035	$ 10,720,999	$ 187,909,036	--

		Fair Value Measurements at Reporting Date Using
		Quoted Prices
		In Active	Significant
		Markets for	Other	Significant
		Identical	Observable	Unobservable
	December 31,	Assets	Inputs	Inputs
Description	2016	(Level 1)	(Level 2)	(Level 3)

Corporate securities	$ 391,113	$ 391,113	--	--
Obligations of states and political subdivisions	166,799,531	--	166,799,531	--
Total	$ 167,190,644	$ 391,113	$ 166,799,531	--

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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