XML 34 R30.htm IDEA: XBRL DOCUMENT v3.2.0.727
Note 10 - Fair Value (Tables)
6 Months Ended
Jun. 30, 2015
Fair Value Disclosures [Abstract]  
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]
           

Fair Value Measurements at Reporting Date Using

 
           

Quoted Prices

   

Significant

         
           

in Active

   

Other

   

Significant

 
           

Markets for

   

Observable

   

Unobservable

 
           

Identical Assets

   

Inputs

   

Inputs

 
   

Fair Value

   

(Level 1)

   

(Level 2)

   

(Level 3)

 
                                 

June 30, 2015:

                               

Securities available for sale:

                               

U.S. govt. sponsored agency securities

  $ 256,443,661     $ -     $ 256,443,661     $ -  

Residential mortgage-backed and related securities

    80,843,822       -       80,843,822       -  

Municipal securities

    27,903,703       -       27,903,703       -  

Other securities

    2,038,597       370,983       1,667,614       -  

Derivative instruments

    1,223,973       -       1,223,973       -  
    $ 368,453,756     $ 370,983     $ 368,082,773     $ -  
                                 

December 31, 2014:

                               

Securities available for sale:

                               

U.S. govt. sponsored agency securities

  $ 307,869,572     $ -     $ 307,869,572     $ -  

Residential mortgage-backed and related securities

    111,423,224       -       111,423,224       -  

Municipal securities

    30,399,981       -       30,399,981       -  

Other securities

    1,966,853       345,952       1,620,901       -  

Derivative instruments

    1,487,386       -       1,487,386          
    $ 453,147,016     $ 345,952     $ 452,801,064     $ -  
           

Fair Value Measurements at Reporting Date Using

 
   

Fair Value

   

Level 1

   

Level 2

   

Level 3

 

June 30, 2015:

                               

Impaired loans/leases

  $ 4,508,716     $ -     $ -     $ 4,508,716  

OREO

    12,908,186       -       -       12,908,186  
    $ 17,416,902     $ -     $ -     $ 17,416,902  
                                 

December 31, 2014:

                               

Impaired loans/leases

  $ 12,467,362     $ -     $ -     $ 12,467,362  

OREO

    13,789,047       -       -       13,789,047  
    $ 26,256,409     $ -     $ -     $ 26,256,409  
Fair Value Inputs, Assets, Quantitative Information [Table Text Block]
   

Quantitave Information about Level Fair Value Measurments

 
   

Fair Value

 

Valuation Technique

Unobservable Input

 

Range

 

June 30, 2015:

                   

Impaired loans/leases

  $ 4,508,716  

Appraisal of collateral

Appraisal adjustments

    -10.00% to -50.00%  

OREO

    12,908,186  

Appraisal of collateral

Appraisal adjustments

    0.00% to -35.00%  
   

Quantitave Information about Level Fair Value Measurments

 
   

Fair Value

 

Valuation Technique

Unobservable Input

 

Range

 

December 31, 2014:

                   

Impaired loans/leases

  $ 12,467,362  

Appraisal of collateral

Appraisal adjustments

    -10.00% to -50.00%  

OREO

    13,789,047  

Appraisal of collateral

Appraisal adjustments

    0.00% to -35.00%  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
 

Fair Value

 

As of June 30, 2015

   

As of December 31, 2014

 
 

Hierarchy

 

Carrying

   

Estimated

   

Carrying

   

Estimated

 
 

Level

 

Value

   

Fair Value

   

Value

   

Fair Value

 
                                   

Cash and due from banks

Level 1

  $ 39,994,818     $ 39,994,818     $ 38,235,019     $ 38,235,019  

Federal funds sold

Level 2

    22,555,000       22,555,000       46,780,000       46,780,000  

Interest-bearing deposits at financial institutions

Level 2

    47,682,823       47,682,823       35,334,682       35,334,682  

Investment securities:

                                 

Held to maturity

Level 3

    225,138,234       223,541,181       199,879,574       201,113,796  

Available for sale

See Previous Table

    367,229,783       367,229,783       451,659,630       451,659,630  

Loans/leases receivable, net

Level 3

    4,174,737       4,508,716       11,543,854       12,467,362  

Loans/leases receivable, net

Level 2

    1,685,063,461       1,691,009,263       1,595,384,851       1,606,646,146  

Derivative instruments

Level 2

    1,223,973       1,223,973       1,487,386       1,487,386  

Deposits:

                                 

Nonmaturity deposits

Level 2

    1,419,075,749       1,419,075,749       1,304,044,099       1,304,044,099  

Time deposits

Level 2

    417,691,321       418,228,000       375,623,914       376,509,000  

Short-term borrowings

Level 2

    168,574,852       168,574,852       268,351,670       268,351,670  

FHLB advances

Level 2

    132,500,000       135,688,000       203,500,000       208,172,000  

Other borrowings

Level 2

    115,000,000       122,312,000       150,282,492       159,741,000  

Junior subordinated debentures

Level 2

    40,492,319       28,792,716       40,423,735       28,585,294