Loans Receivable, Net (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Accounts, Notes, Loans and Financing Receivable

Loans receivable, net, at December 31, 2017 and 2016 are summarized below.



	December 31,
	2017				2016
	Balance		% of Total Gross Loans		Balance		% of Total Gross Loans
Residential Real Estate Loans	$	81,255,167	20.2	%	$	77,979,909	21.2	%
Consumer Loans	56,761,695		14.1	%	50,667,894		13.8	%
Commercial Business Loans	26,777,893		6.6	%	16,279,177		4.4	%
Commercial Real Estate Loans	237,814,628		59.1	%	222,599,294		60.6	%
Total Loans Held For Investment	402,609,383		100.0	%	367,526,274		100.0	%
Loans Held For Sale	3,051,950				4,243,907
Total Loans Receivable, Gross	405,661,333				371,770,181
Less:
Allowance For Loan Losses	8,221,618				8,356,231
Loans in Process	6,804,533				3,526,064
Deferred Loan Fees	141,985				165,040
	15,168,136				12,047,335
Total Loans Receivable, Net	$	390,493,197			$	359,722,846

Financing Receivable Credit Quality Indicators

The following tables summarize the loan grades used by the Company to measure the credit quality of gross loans receivable, excluding those held for sale, by loan segment at December 31, 2017 and 2016.



December 31, 2017	Pass		Caution		Special Mention		Substandard		Total Loans
Residential Real Estate	$	73,225,237	$	2,352,536	$	1,384,222	$	4,293,172	$	81,255,167
Consumer	52,249,017		1,862,340		344,361		2,305,977		56,761,695
Commercial Business	23,396,550		2,066,749		767,048		547,546		26,777,893
Commercial Real Estate	158,232,465		53,798,061		21,269,279		4,514,823		237,814,628
Total	$	307,103,269	$	60,079,686	$	23,764,910	$	11,661,518	$	402,609,383



December 31, 2016	Pass		Caution		Special Mention		Substandard		Total Loans
Residential Real Estate	$	70,503,057	$	665,235	$	1,082,928	$	5,728,689	$	77,979,909
Consumer	46,818,650		2,591,860		6,357		1,251,027		50,667,894
Commercial Business	14,731,698		1,002,170		50,081		495,228		16,279,177
Commercial Real Estate	127,068,983		71,927,031		18,153,718		5,449,562		222,599,294
Total	$	259,122,388	$	76,186,296	$	19,293,084	$	12,924,506	$	367,526,274

Past Due Financing Receivables

The following tables present an age analysis of past due balances by category at December 31, 2017 and 2016.



	December 31, 2017
	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		Current		Total Loans Receivable
Residential Real Estate	$	395,763	$	—	$	948,875	$	1,344,638	$	79,910,529	$	81,255,167
Consumer	604,809		85,178		182,757		872,744		55,888,951		56,761,695
Commercial Business	185,526		102,244		—		287,770		26,490,123		26,777,893
Commercial Real Estate	2,207,655		364,515		1,919,292		4,491,462		233,323,166		237,814,628
Total	$	3,393,753	$	551,937	$	3,050,924	$	6,996,614	$	395,612,769	$	402,609,383



	December 31, 2016
	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		Current		Total Loans Receivable
Residential Real Estate	$	653,858	$	—	$	1,050,444	$	1,704,302	$	76,275,607	$	77,979,909
Consumer	625,178		119,640		57,794		802,612		49,865,282		50,667,894
Commercial Business	536,492		69,256		—		605,748		15,673,429		16,279,177
Commercial Real Estate	1,719,758		256,285		1,885,177		3,861,220		218,738,074		222,599,294
Total	$	3,535,286	$	445,181	$	2,993,415	$	6,973,882	$	360,552,392	$	367,526,274

Schedule of Financing Receivables, Non Accrual Status

The following table shows non-accrual loans by category at December 31, 2017 compared to 2016.



	December 31, 2017				December 31, 2016				$ Increase (Decrease)			% Increase (Decrease)
	Amount		Percent ⁽¹⁾		Amount		Percent ⁽¹⁾		$ Increase (Decrease)			% Increase (Decrease)
Non-accrual Loans:
Residential Real Estate	$	1,948,524	0.5	%	$	2,488,158	0.7	%	$	(539,634	)	(21.7	)%
Consumer	318,926		0.1		241,571		0.1		77,355			32.0
Commercial Business	109,401		—		145,401		—		(36,000		)	(24.8	)
Commercial Real Estate	3,340,904		0.8		2,639,837		0.7		701,067			26.6
Total Non-accrual Loans	$	5,717,755	1.5	%	$	5,514,967	1.5	%	$	202,788		3.7	%

^{(1) PERCENT OF GROSS LOANS RECEIVABLE HELD FOR INVESTMENT, NET OF DEFERRED FEES AND LOANS IN PROCESS.}

Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent

The following tables show the allowance for loan losses by loan category for the years ended December 31, 2017, 2016 and 2015.



	For the Year Ended December 31, 2017
	Residential Real Estate			Consumer			Commercial Business			Commercial Real Estate			Total
Beginning Balance	$	1,360,346		$	996,620		$	882,999		$	5,116,266		$	8,356,231
Provision	82,909			257,180			261,599			(301,688		)	300,000
Charge-Offs	(211,780		)	(184,161		)	(133,371		)	(301,260		)	(830,572		)
Recoveries	2,368			75,176			—			318,415			395,959
Ending Balance	$	1,233,843		$	1,144,815		$	1,011,227		$	4,831,733		$	8,221,618



	For the Year Ended December 31, 2016
	Residential Real Estate			Consumer			Commercial Business			Commercial Real Estate			Total
Beginning Balance	$	1,323,183		$	1,063,153		$	773,948		$	5,114,849		$	8,275,133
Provision	223,232			88,466			247,320			(59,018		)	500,000
Charge-Offs	(197,381		)	(241,738		)	(150,000		)	(374,144		)	(963,263		)
Recoveries	11,312			86,739			11,731			434,579			544,361
Ending Balance	$	1,360,346		$	996,620		$	882,999		$	5,116,266		$	8,356,231



	For the Year Ended December 31, 2015
	Residential Real Estate			Consumer			Commercial Business			Commercial Real Estate			Total
Beginning Balance	$	1,392,065		$	886,716		$	159,353		$	5,919,362		$	8,357,496
Provision	53,694			549,462			617,658			(1,220,814		)	—
Charge-Offs	(216,525		)	(527,055		)	(10,947		)	(761,941		)	(1,516,468		)
Recoveries	93,949			154,030			7,884			1,178,242			1,434,105
Ending Balance	$	1,323,183		$	1,063,153		$	773,948		$	5,114,849		$	8,275,133

Allowance for Credit Losses on Financing Receivables

The following tables present information related to impaired loans evaluated individually and collectively for impairment in loans receivable at December 31, 2017 and 2016.



	Loans Receivable
December 31, 2017	Individually Evaluated For Impairment		Collectively Evaluated For Impairment		Total
Residential Real Estate	$	1,883,741	$	79,371,426	$	81,255,167
Consumer	181,617		56,580,078		56,761,695
Commercial Business	100,401		26,677,492		26,777,893
Commercial Real Estate	6,276,547		231,538,081		237,814,628
Total	$	8,442,306	$	394,167,077	$	402,609,383



	Loans Receivable
December 31, 2016	Individually Evaluated For Impairment		Collectively Evaluated For Impairment		Total
Residential Real Estate	$	2,181,740	$	75,798,169	$	77,979,909
Consumer	170,552		50,497,342		50,667,894
Commercial Business	145,401		16,133,776		16,279,177
Commercial Real Estate	5,830,341		216,768,953		222,599,294
Total	$	8,328,034	$	359,198,240	$	367,526,274

The following tables present information related to impaired loans evaluated individually and collectively for impairment in the allowance for loan losses at December 31, 2017 and 2016.



December 31, 2017	Individually Evaluated For Impairment		Collectively Evaluated For Impairment		Total
Residential Real Estate	$	—	$	1,233,843	$	1,233,843
Consumer	—		1,144,815		1,144,815
Commercial Business	—		1,011,227		1,011,227
Commercial Real Estate	—		4,831,733		4,831,733
Total	$	—	$	8,221,618	$	8,221,618



December 31, 2016	Individually Evaluated For Impairment		Collectively Evaluated For Impairment		Total
Residential Real Estate	$	—	$	1,360,346	$	1,360,346
Consumer	1,699		994,921		996,620
Commercial Business	—		882,999		882,999
Commercial Real Estate	12,590		5,103,676		5,116,266
Total	$	14,289	$	8,341,942	$	8,356,231

Impaired Financing Receivables

The following tables present information related to impaired loans by loan category as of and for the years ended December 31, 2017, 2016 and 2015. None of the impaired loans had a related allowance recorded at December 31, 2017.



	December 31, 2017
Impaired Loans	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
With No Related Allowance Recorded:
Residential Real Estate	$	1,883,741	$	2,333,741	$	—	$	2,889,065	$	24,273
Consumer	181,617		209,427		—		279,183		—
Commercial Business	100,401		950,401		—		141,940		—
Commercial Real Estate	6,276,547		7,583,847		—		7,483,035		189,373
Total
Residential Real Estate	1,883,741		2,333,741		—		2,889,065		24,273
Consumer	181,617		209,427		—		279,183		—
Commercial Business	100,401		950,401		—		141,940		—
Commercial Real Estate	6,276,547		7,583,847		—		7,483,035		189,373
Total	$	8,442,306	$	11,077,416	$	—	$	10,793,223	$	213,646

(4) Loans Receivable, Net, Continued



	December 31, 2016
Impaired Loans	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
With No Related Allowance Recorded:
Residential Real Estate	$	2,181,740	$	2,263,240	$	—	$	3,443,140	$	6,371
Consumer	110,114		118,414		—		293,287		—
Commercial Business	145,401		995,401		—		300,386		—
Commercial Real Estate	5,424,701		7,207,688		—		8,688,506		227,441
With an Allowance Recorded:
Consumer	60,438		60,438		1,699		61,947		4,591
Commercial Real Estate	405,640		418,654		12,590		426,569		22,798
Total
Residential Real Estate	2,181,740		2,263,240		—		3,443,140		6,371
Consumer	170,552		178,852		1,699		355,234		4,591
Commercial Business	145,401		995,401		—		300,386		—
Commercial Real Estate	5,830,341		7,626,342		12,590		9,115,075		250,239
Total	$	8,328,034	$	11,063,835	$	14,289	$	13,213,835	$	261,201



	December 31, 2015
Impaired Loans	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
With No Related Allowance Recorded:
Residential Real Estate	$	2,922,105	$	3,033,735	$	—	$	3,014,807	$	13,909
Consumer	120,889		129,188		—		130,202		—
Commercial Business	162,201		362,201		—		190,562		—
Commercial Real Estate	8,620,301		10,969,642		—		8,952,868		245,197
With An Allowance Recorded:
Consumer	251,493		256,923		32,300		254,611		4,789
Commercial Real Estate	570,339		577,139		49,300		579,418		31,684
Total
Residential Real Estate	2,922,105		3,033,735		—		3,014,807		13,909
Consumer	372,382		386,111		32,300		384,813		4,789
Commercial Business	162,201		362,201		—		190,562		—
Commercial Real Estate	9,190,640		11,546,781		49,300		9,532,286		276,881
Total	$	12,647,328	$	15,328,828	$	81,600	$	13,122,468	$	295,579

Troubled Debt Restructurings on Financing Receivables

The following table summarizes the loans restructured as TDRs during the year ended December 31, 2015:



Troubled Debt Restructurings	Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Consumer	1	$	36,460	$	36,460
Commercial Real Estate	6	922,000		922,000
Total	7	958,460		958,460

The following table is a summary of TDRs restructured during the periods indicated that subsequently defaulted during the same period:



	Year Ended December 31,
	2017			2016			2015
	Number of Contracts	Recorded Investment		Number of Contracts	Recorded Investment		Number of Contracts	Recorded Investment
Commercial Real Estate	—	—		—	—		2	30,713
Total	—	$	—	—	$	—	2	$	30,713