Note 13 - Preferred Stock	12 Months Ended
Dec. 31, 2016
Notes to Financial Statements
Preferred Stock And Warrants [Text Block]	( 13) Preferred Stock The Company had 9,360 shares and 18,021 shares of Fixed Rate Cumulative Perpetual Preferred Stock, Series A (the Preferred Stock) issued and outstanding with private investors as of December 31, 2016 and 2015, respectively. The Company redeemed 8,661 shares of Preferred Stock at $1,000 per share during 2016. The Company also had a warrant (the Warrant) to purchase up to 500,000 shares of the Company’s common stock outstanding with private investors. Both the Preferred Stock and the Warrant originated in 2009 through transactions with the United States Department of the Treasury and were subsequently sold to the public through an auction process during 2013. The Preferred Stock qualifies as Tier 1 capital and is nonvoting, other than class voting rights on certain matters that could adversely affect the Preferred Stock. The Preferred Stock may be redeemed by the Company at the liquidation preference of $1,000 per share, plus any accrued and unpaid dividends. The Warrant may be exercised on or before January 9, 2019 at an exercise price of $8.40 per share. No voting rights may be exercised with respect to the shares of the Warrant until the Warrant has been exercised. The Preferred Stock requires a cumulative cash dividend be paid quarterly at a rate of 9 percent per annum. Prior to January 9, 2014, the annual dividend rate for the Preferred Stock was 5 percent. Unpaid dividends on the Preferred Stock must be declared and set aside for the benefit of the holders of the Preferred Stock before any dividend may be declared on common stock. On February 13, 2012, the Company announced the suspension of dividends on Preferred Stock. On November 17, 2014, the Company reinstated dividend payments on the Preferred Stock and paid $5,492,749 of accumulated dividends in arrears to the holders of the Preferred Stock.

(

13)

Preferred Stock

The Company had

9,360

shares and

18,021

shares of Fixed Rate Cumulative Perpetual Preferred Stock, Series A (the Preferred Stock) issued and outstanding with private investors as of

December

31,

2016

and

2015,

respectively. The Company redeemed

8,661

shares of Preferred Stock at

$1,000

per share during

2016.

The Company also had a warrant (the Warrant) to purchase up to

500,000

shares of the Company’s common stock outstanding with private investors. Both the Preferred Stock and the Warrant originated in

2009

through transactions with the United States Department of the Treasury and were subsequently sold to the public through an auction process during

2013.

The Preferred Stock qualifies as Tier

capital and is nonvoting, other than class voting rights on certain matters that could adversely affect the Preferred Stock. The Preferred Stock

may

be redeemed by the Company at the liquidation preference of

$1,000

per share, plus any accrued and unpaid dividends. The Warrant

may

be exercised on or before

January

2019

at an exercise price of

$8.40

per share. No voting rights

may

be exercised with respect to the shares of the Warrant until the Warrant has been exercised.

The Preferred Stock requires a cumulative cash dividend be paid quarterly at a rate of

percent per annum. Prior to

January

2014,

the annual dividend rate for the Preferred Stock was

percent. Unpaid dividends on the Preferred Stock must be declared and set aside for the benefit of the holders of the Preferred Stock before any dividend

may

be declared on common stock. On

February

13,

2012,

the Company announced the suspension of dividends on Preferred Stock. On

November

17,

2014,

the Company reinstated dividend payments on the Preferred Stock and paid

$5,492,749

of accumulated dividends in arrears to the holders of the Preferred Stock.