SECURITIES AVAILABLE FOR SALE (Tables)

9 Months Ended

Sep. 30, 2015

Investments, Debt and Equity Securities [Abstract]

Available-for-sale Securities [Table Text Block]

The following tables represent the securities held in the Company’s portfolio at September 30, 2015 and at December 31, 2014:

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
September 30, 2015	Cost		Gains		Losses		Value
US Treasury	$	2,006,984	$	14,578	$	0	$	2,021,562
US Government and federal agency		11,074,790		56,408		0		11,131,198
Municipals		710,000		1,541		0		711,541
Mortgage-backed and collateralized mortgage obligations– residential		11,135,421		99,213		(56,961)		11,177,673
	$	24,927,195	$	171,740	$	(56,961)	$	25,041,974

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
December 31, 2014	Cost		Gains		Losses		Value
US Treasury	$	2,012,021	$	13,682	$	0	$	2,025,703
US Government and federal agency		15,172,847		52,755		(21,652)		15,203,950
Municipals		1,060,385		4,080		0		1,064,465
Mortgage-backed and collateralized mortgage obligations– residential		13,370,343		117,765		(90,857)		13,397,251
	$	31,615,596	$	188,282	$	(112,509)	$	31,691,369

Investments Classified by Contractual Maturity Date [Table Text Block]

The amortized cost and fair value of the securities portfolio are shown by expected maturity. Expected maturities may differ from contractual maturities if borrowers have the right to call or prepay obligations with or without call or prepayment fees. Below is the schedule of contractual maturities for securities held at September 30, 2015:

	Amortized		Fair
	Cost		Value
Due in one year or less	$	4,029,379	$	4,046,534
Due from one to five years		9,762,395		9,817,767
Due from five to ten years		0		0
Due in more than ten years		0		0
Mortgage-backed and collateralized mortgage obligations – residential		11,135,421		11,177,673
	$	24,927,195	$	25,041,974

Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block]

Below is the table of securities with unrealized losses, aggregated by investment category and length of time such securities were in an unrealized loss position at September 30, 2015 and December 31, 2014:

	Less than 12 Months				12 Months or Longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
September 30, 2015	Value		Losses		Value		Losses		Value		Losses
Mortgage-backed and collateralized mortgage obligations - residential	$	1,278,499	$	(7,025)	$	3,464,170	$	(49,936)	$	4,742,669	$	(56,961)
	$	1,278,499	$	(7,025)	$	3,464,170	$	(49,936)	$	4,742,669	$	(56,961)

	Less than 12 Months				12 Months or Longer				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
December 31, 2014	Value		Losses		Value		Losses		Value		Losses
US Government and federal agency	$	2,521,604	$	(6,844)	$	1,951,087	$	(14,808)	$	4,472,691	$	(21,652)
Mortgage-backed and collateralized mortgage obligations - residential		2,850,028		(9,012)		4,675,915		(81,845)		7,525,943		(90,857)
	$	5,371,632	$	(15,856)	$	6,627,002	$	(96,653)	$	11,998,634	$	(112,509)