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Note 6 - Investments in Affordable Housing Partnerships
12 Months Ended
Dec. 31, 2015
Investments In Affordable Housing Partnerships [Abstract]  
Investments In Affordable Housing Partnerships [Text Block]

NOTE 6:     INVESTMENTS IN AFFORDABLE HOUSING PARTNERSHIPS


The Company has purchased investments in limited partnerships that were formed to operate low-income housing apartment complexes and single-family housing units throughout Missouri. Effective January 2015, the investments are accounted for under the proportional amortization method (see Note 14: New Accounting Pronouncements for further discussion) if certain conditions are met. The Company does not have the ability to exert significant influence over the partnerships. For a minimum 15 year compliance period, each partnership must adhere to affordable housing regulatory requirements in order to maintain the utilization of the tax credits. At December 31, 2015 and 2014, the net carrying values of the Company’s investments in these entities was $2,688,704 and $3,574,183, respectively, and are included in other assets on the Company’s Consolidated Balance Sheets.


The Company received income tax credits of $1,221,394, $1,221,394 and $1,221,394 during 2015, 2014 and 2013, respectively. Amortization of the investment costs was $885,478 during each of the fiscal years 2015, 2014 and 2013.