Note 8 - Disclosures about Fair Value of Assets and Liabilities (Tables)

6 Months Ended

Jun. 30, 2014

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis [Table Text Block]

June 30, 2014
Financial assets:
	Level 1 inputs		Level 2 inputs		Level 3 inputs		Total fair value
Equity securities	$	106	$	-	$	-	$	106
Debt securities:
U.S. government agencies		-		17,337		-		17,337
Municipals		-		14,283		-		14,283
Government sponsored mortgage-backed securities		-		68,689		-		68,689
Available-for-sale securities	$	106	$	100,309	$	-	$	100,415

December 31, 2013
Financial assets:
	Level 1 inputs		Level 2 inputs		Level 3 inputs		Total fair value
Equity securities	$	99	$	-	$	-	$	99
Debt securities:
U.S. government agencies		-		31,762		-		31,762
Municipals		-		13,493		-		13,493
Corporate Bonds		-		994		-		994
Government sponsored mortgage-backed securities		-		51,345		-		51,345
Available-for-sale securities	$	99	$	97,594	$	-	$	97,693

Fair Value Measurements, Nonrecurring [Table Text Block]

Impaired loans:
	Level 1 inputs		Level 2 inputs		Level 3 inputs		Total fair value
June 30, 2014	$	-	$	-	$	7,069	$	7,069
December 31, 2013	$	-	$	-	$	10,305	$	10,305

Foreclosed assets held for sale:
	Level 1 inputs		Level 2 inputs		Level 3 inputs		Total fair value
June 30, 2014	$	-	$	-	$	-	$	-
December 31, 2013	$	-	$	-	$	2,340	$	2,340

Fair Value Inputs, Assets, Quantitative Information [Table Text Block]

	Fair Value June 30, 2014		Valuation Technique	Unobservable Input	Range (Weighted Average)
Impaired loans (collateral dependent)	$	7,069	Market Comparable	Discount to reflect realizable value		0%-38	%	(12%)
Impaired loans	$	-	Discounted cash flow	Discount rate		0	%
Foreclosed assets held for sale	$	-	Market Comparable	Discount to reflect realizable value		0	%

Fair Value, by Balance Sheet Grouping [Table Text Block]

	June 30, 2014
	Carrying Amount		Fair Value		Hierarchy Level
Financial assets:
Cash and cash equivalents	$	20,831,026	$	20,831,026		1
Held-to-maturity securities		69,862		71,628		2
Federal Home Loan Bank stock		2,878,900		2,878,900		2
Mortgage loans held for sale		1,221,633		1,221,633		2
Loans, net		454,151,996		456,076,651		3
Interest receivable		1,839,238		1,839,238		2
Financial liabilities:
Deposits		481,152,569		472,721,120		2
Federal Home Loan Bank advances		53,400,000		55,526,499		2
Securities sold under agreements to repurchase		10,000,000		10,529,097		2
Subordinated debentures		15,465,000		15,465,000		3
Interest payable		239,297		239,297		2
Unrecognized financial instruments (net of contractual value):
Commitments to extend credit		-		-		-
Unused lines of credit		-		-		-

	December 31, 2013
	Carrying Amount		Fair Value		Hierarchy Level
Financial assets:
Cash and cash equivalents	$	12,303,200	$	12,303,200		1
Held-to-maturity securities		79,162		81,089		2
Federal Home Loan Bank stock		2,885,100		2,885,100		2
Mortgage loans held for sale		623,432		623,432		2
Loans, net		464,379,854		466,057,001		3
Interest receivable		1,852,641		1,852,641		2
Financial liabilities:
Deposits		487,318,939		476,503,513		2
Federal Home Loan Bank advances		55,350,000		57,185,083		2
Securities sold under agreements to repurchase		10,000,000		7,978,555		2
Subordinated debentures		15,465,000		15,465,000		3
Interest payable		250,361		250,361		2
Unrecognized financial instruments (net of contractual value):
Commitments to extend credit		-		-		-
Unused lines of credit		-		-		-