Condensed Parent Information (Tables)

12 Months Ended

Dec. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Balance Sheet [Table Text Block]

BALANCE SHEETS
	December 31,		December 31,
	2014		2013
ASSETS
Cash	$	637,635	$	3,376,410
Investment in subsidiary		39,733,504		38,096,440
Other assets		334,115		435,972
Total assets	$	40,705,254	$	41,908,822
LIABILITIES AND STOCKHOLDERS’ EQUITY
Other liabilities	$	43,149	$	35,094
Other borrowings		-		1,740,000
Total liabilities		43,149		1,775,094
Stockholders’ equity		40,662,105		40,133,728
Total liabilities and stockholders’ equity	$	40,705,254	$	41,908,822

Condensed Income Statement [Table Text Block]

STATEMENTS OF INCOME
	Years Ended December 31,
	2014		2013		2012
INCOME
Dividends	$	-	$	-	$	-
Interest income		665		956		-
		665		956		-
EXPENSES
Interest expense		19,802		49,836		170,872
Other operating expenses		476,894		286,105		436,283
Loss before equity in undistributed earnings		(496,031)		(334,985)		(607,155)
Equity in undistributed earnings of subsidiary		1,942,913		1,887,294		1,775,918
Income tax benefit		191,400		128,500		233,300
Net income		1,638,282		1,680,809		1,402,063
Preferred stock dividend requirements		1,500,000		1,500,000		1,229,780
Accretion on preferred stock discount		71,382		71,381		63,924
Net income available to common shareholders	$	66,900	$	109,428	$	108,359

Condensed Cash Flow Statement [Table Text Block]

	2014		2013		2012
STATEMENTS OF CASH FLOWS
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$	1,638,282	$	1,680,809	$	1,402,063
Adjustments to reconcile net income to net cash
used in operating activities:
Stock compensation expense		-		-		74,048
Equity in undistributed income of subsidiary		(1,152,913)		(1,887,294)		(1,775,918)
Other		15,856		110,651		1,719,222
Net cash used in operating activities		501,225		(95,834)		1,419,415
CASH FLOWS FROM FINANCING ACTIVITIES
Net repayments under other borrowings		(1,740,000)		(435,000)		(870,000)
Issuance of preferred stock		-		-		4,858,078
Payment of preferred dividends		(1,500,000)		(1,433,893)		(985,917)
Net cash (used in) provided by financing activities		(3,240,000)		(1,868,893)		3,002,161
NET (DECREASE) INCREASE IN CASH AND CASH
EQUIVALENTS		(2,738,775)		(1,964,727)		4,421,576
CASH AND CASH EQUIVALENTS, beginning of year		3,376,410		5,341,137		919,561
CASH AND CASH EQUIVALENTS, end of year	$	637,635	$	3,376,410	$	5,341,137
SUPPLEMENTAL DISCLOSURES OF CASH FLOW
INFORMATION
Cash paid during the year for:
Interest	$	19,802	$	85,236	$	174,473
Income taxes		-		-		-