Note 8 - Short-Term Borrowings

12 Months Ended

Dec. 31, 2014

Disclosure Text Block [Abstract]

Short-term Debt [Text Block]

Note 8.          Short-Term Borrowings

Short-term borrowings as of December 31, 2014 and 2013 are summarized as follows:

	2014		2013
Overnight repurchase agreements with customers	$	137,251,670	$	98,822,967
Federal funds purchased		131,100,000		50,470,000
	$	268,351,670	$	149,292,967

Information concerning overnight repurchase agreements with customers is summarized as follows as of December 31, 2014 and 2013:

	2014			2013
Average daily balance during the period	$	128,818,152		$	123,543,416
Average daily interest rate during the period		0.12	%		0.12	%
Maximum month-end balance during the period	$	147,623,624		$	146,075,177
Weighted average rate as of end of period		0.13	%		0.13	%
Securities underlying the agreements as of end of period:
Carrying value	$	165,360,426		$	143,262,002
Fair value		165,360,426			143,262,002

The securities underlying the agreements as of December 31, 2014 and 2013 were under the Company's control in safekeeping at third-party financial institutions.

Information concerning federal funds purchased is summarized as follows as of December 31, 2014 and 2013:

	2014			2013
Average daily balance during the period	$	33,876,815		$	41,156,729
Average daily interest rate during the period		0.40	%		0.40	%
Maximum month-end balance during the period	$	131,100,000		$	95,380,000
Weighted average rate as of end of period		0.23	%		0.28	%