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

6 Months Ended

Jun. 30, 2016

Notes Tables

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

6/30/2016
Financial assets:
	Level 1 inputs		Level 2 inputs		Level 3 inputs		Total fair value
Equity securities	$	86	$	-	$	-	$	86
Debt securities:
Municipals		-		48,127		-		48,127
Corporates		-		4,893		-		4,893
Government sponsored mortgage-backed securities and SBA loan pools		-		51,761		-		51,761
Available-for-sale securities	$	86	$	104,781	$	-	$	104,867

12/31/2015
Financial assets:
	Level 1 inputs		Level 2 inputs		Level 3 inputs		Total fair value
Equity securities	$	99	$	-	$	-	$	99
Debt securities:
U.S. government agencies		-		8,397		-		8,397
Municipals		-		31,349		-		31,349
Corporates		-		3,814		-		3,814
Government sponsored mortgage-backed securities and SBA loan pools		-		53,633		-		53,633
Available-for-sale securities	$	99	$	97,193	$	-	$	97,292

Fair Value Measurements, Nonrecurring [Table Text Block]

Impaired loans:
	Level 1 inputs		Level 2 inputs		Level 3 inputs		Total fair value
June 30, 2016	$	-	$	-	$	3,329	$	3,329
December 31, 2015	$	-	$	-	$	5,000	$	5,000

Foreclosed assets held for sale:
	Level 1 inputs		Level 2 inputs		Level 3 inputs		Total fair value
June 30, 2016	$	-	$	-	$	-	$	-
December 31, 2015	$	-	$	-	$	-	$	-

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

	Fair Value June 30, 2016		Valuation Technique	Unobservable Input	Range (Weighted Average)
Impaired loans (collateral dependent)	$	3,329	Market Comparable	Discount to reflect realizable value		0%	-	41%	(5%)
Foreclosed assets held for sale	$	-	Market Comparable	Discount to reflect realizable value			0%

	Fair Value December 31, 2015		Valuation Technique	Unobservable Input	Range (Weighted Average)
Impaired loans (collateral dependent)	$	5,000	Market Comparable	Discount to reflect realizable value		0%	-	23%	(4%)
Foreclosed assets held for sale	$	-	Market Comparable	Discount to reflect realizable value			0%

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

	June 30, 2016
	Carrying Amount		Fair Value		Hierarchy Level
Financial assets:
Cash and cash equivalents	$	9,798,780	$	9,798,780		1
Held-to-maturity securities		33,858		34,702		2
Federal Home Loan Bank stock		3,919,000		3,919,000		2
Mortgage loans held for sale		1,977,683		1,977,683		2
Loans, net		518,948,805		517,815,050		3
Interest receivable		1,880,601		1,880,601		2
Financial liabilities:
Deposits		514,414,560		504,216,146		2
Federal Home Loan Bank advances		78,400,000		78,821,920		2
Subordinated debentures		15,465,000		15,465,000		3
Interest payable		198,173		198,173		2
Unrecognized financial instruments (net of contractual value):
Commitments to extend credit		-		-		-
Unused lines of credit		-		-		-

	December 31, 2015
	Carrying Amount		Fair Value		Hierarchy Level
Financial assets:
Cash and cash equivalents	$	18,774,419	$	18,774,419		1
Held-to-maturity securities		43,099		43,935		2
Federal Home Loan Bank stock		2,837,500		2,837,500		2
Mortgage loans held for sale		1,902,933		1,902,933		2
Loans, net		491,001,907		495,207,798		3
Interest receivable		1,986,692		1,986,692		2
Financial liabilities:
Deposits		517,385,695		511,225,380		2
Federal Home Loan Bank advances		52,100,000		53,227,960		2
Subordinated debentures		15,465,000		15,465,000		3
Interest payable		196,102		196,102		2
Unrecognized financial instruments (net of contractual value):
Commitments to extend credit		-		-		-
Unused lines of credit		-		-		-