Securities Sold Under Agreements to Repurchase

12 Months Ended

Dec. 31, 2015

Securities Sold Under Agreement to Repurchase [Abstract]

Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block]

Note 11. Securities Sold Under Agreements to Repurchase

Securities sold under repurchase agreements, which are secured borrowings, generally mature within one to four days from the transaction date. Securities sold under repurchase agreements are reflected at the amount of cash received in connection with the transaction. The Company may be required to provide additional collateral based on the fair value of the underlying securities. The Company monitors the fair value of the underlying securities on a daily basis.

At December 31, 2015 and 2014, the Company had securities sold under agreements to repurchase of $28,068,215 and $9,758,018, respectively, with commercial checking customers.