Document And Entity Information
| Document And Entity Information - shares | 6 Months Ended | |
| Jun. 30, 2015 | Aug. 01, 2015 | |
| Document and Entity Information [Abstract] | ||
| Entity Registrant Name | GUARANTY FEDERAL BANCSHARES INC | |
| Trading Symbol | GFED | |
| Document Type | 10-Q | |
| Current Fiscal Year End Date | --12-31 | |
| Entity Common Stock, Shares Outstanding | 4,379,935 | |
| Amendment Flag | false | |
| Entity Central Index Key | 1,046,203 | |
| Entity Current Reporting Status | Yes | |
| Entity Voluntary Filers | No | |
| Entity Filer Category | Smaller Reporting Company | |
| Entity Well-known Seasoned Issuer | No | |
| Document Period End Date | Jun. 30, 2015 | |
| Document Fiscal Year Focus | 2,015 | |
| Document Fiscal Period Focus | Q2 |
Condensed Consolidated Balance
| Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
| Cash | $ 3,437,429 | $ 3,604,316 |
| Interest-bearing deposits in other financial institutions | 17,979,902 | 8,889,574 |
| Cash and cash equivalents | 21,417,331 | 12,493,890 |
| Available-for-sale securities | 83,408,795 | 86,467,985 |
| Held-to-maturity securities | 51,341 | 60,993 |
| Stock in Federal Home Loan Bank, at cost | 2,837,500 | 3,156,900 |
| Mortgage loans held for sale | 1,618,290 | 1,214,632 |
| Loans receivable, net of allowance for loan losses of June 30, 2015 - $6,651,308 - December 31, 2014 - $6,588,597 | 504,632,124 | 486,586,636 |
| Accrued interest receivable: | ||
| Loans | 1,751,924 | 1,704,374 |
| Investments and interest-bearing deposits | 333,398 | 325,684 |
| Prepaid expenses and other assets | 4,166,398 | 4,530,191 |
| Foreclosed assets held for sale | 3,215,284 | 3,165,447 |
| Premises and equipment, net | 10,691,085 | 10,602,763 |
| Bank owned life insurance | 14,597,640 | 14,417,220 |
| Income taxes receivable | 290,124 | 320,416 |
| Deferred income taxes | 3,627,076 | 3,412,513 |
| 652,638,310 | 628,459,644 | |
| LIABILITIES | ||
| Deposits | 519,547,082 | 479,818,282 |
| Federal Home Loan Bank and Federal Reserve Bank advances | 52,100,000 | 60,350,000 |
| Securities sold under agreements to repurchase | 10,000,000 | |
| Subordinated debentures | 15,465,000 | 15,465,000 |
| Advances from borrowers for taxes and insurance | 385,182 | 143,984 |
| Accrued expenses and other liabilities | 982,485 | 963,386 |
| Accrued interest payable | 195,937 | 242,145 |
| $ 588,675,686 | $ 566,982,797 | |
| COMMITMENTS AND CONTINGENCIES | ||
| Capital Stock: | ||
| Common stock, $0.10 par value; authorized 10,000,000 shares; issued June 30, 2015 and December 31, 2014 - 6,844,503 and 6,823,203 shares, respectively | $ 684,450 | $ 682,320 |
| Additional paid-in capital | 50,272,806 | 50,366,546 |
| Retained earnings, substantially restricted | 50,978,228 | 48,549,691 |
| Accumulated other comprehensive loss | ||
| Unrealized loss on available-for-sale securities, net of income taxes | (699,744) | (448,421) |
| 101,235,740 | 99,150,136 | |
| Treasury stock, at cost; June 30, 2015 and December 31, 2014 - 2,466,068 and 2,492,552 shares, respectively | (37,273,116) | (37,673,289) |
| 63,962,624 | 61,476,847 | |
| $ 652,638,310 | $ 628,459,644 | |
| Series A Preferred Stock [Member] | ||
| Capital Stock: | ||
| Series A preferred stock, $0.01 par value; authorized 2,000,000 shares |
Condensed Consolidated Balance3
| Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
| Loans receivable, allowance for loan losses (in Dollars) | $ 6,651,308 | $ 6,588,597 |
| Common stock, par value (in Dollars per share) | $ 0.10 | $ 0.10 |
| Common stock, authorized | 10,000,000 | 10,000,000 |
| Common stock, issued | 6,844,503 | 6,823,203 |
| Treasury stock, shares | 2,466,068 | 2,492,552 |
| Series A Preferred Stock [Member] | ||
| Series A preferred stock, par value (in Dollars per share) | $ 0.01 | $ 0.01 |
| Series A preferred stock, authorized | 2,000,000 | 2,000,000 |
Condensed Consolidated Statemen
| Condensed Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
| Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
| Interest Income | ||||
| Loans | $ 5,988,875 | $ 5,576,155 | $ 11,893,441 | $ 11,443,713 |
| Investment securities | 351,481 | 415,318 | 704,531 | 872,884 |
| Other | 46,154 | 46,110 | 76,175 | 81,050 |
| 6,386,510 | 6,037,583 | 12,674,147 | 12,397,647 | |
| Interest Expense | ||||
| Deposits | 625,261 | 562,700 | 1,220,190 | 1,169,493 |
| Federal Home Loan Bank and Federal Reserve Bank advances | 297,379 | 298,636 | 596,185 | 594,327 |
| Subordinated debentures | 133,997 | 133,035 | 266,858 | 266,198 |
| Other | 55,739 | 65,975 | 120,833 | 131,225 |
| 1,112,376 | 1,060,346 | 2,204,066 | 2,161,243 | |
| Net Interest Income | 5,274,134 | 4,977,237 | 10,470,081 | 10,236,404 |
| Provision for Loan Losses | 325,000 | 150,000 | 525,000 | |
| Net Interest Income After Provision for Loan Losses | 5,274,134 | 4,652,237 | 10,320,081 | 9,711,404 |
| Noninterest Income | ||||
| Service charges | 315,275 | 318,434 | 596,634 | 631,419 |
| Gain on sale of investment securities | 148,516 | 7,603 | 155,313 | 10,691 |
| Gain on sale of mortgage loans held for sale | 364,709 | 250,667 | 743,775 | 436,245 |
| Gain on sale of Small Business Administration loans | 344,439 | 344,439 | ||
| Net loss on foreclosed assets | (6,663) | (61,182) | (17,762) | (76,965) |
| Other income | 345,477 | 346,973 | 691,063 | 678,798 |
| 1,511,753 | 862,495 | 2,513,462 | 1,680,188 | |
| Noninterest Expense | ||||
| Salaries and employee benefits | 2,488,220 | 2,231,963 | 4,941,312 | 4,536,731 |
| Occupancy | 463,360 | 419,614 | 936,587 | 846,675 |
| FDIC deposit insurance premiums | 113,578 | 120,029 | 220,338 | 256,963 |
| Prepayment penalty on securities sold under agreements to repurchase | 463,992 | 463,992 | ||
| Data processing | 201,342 | 165,486 | 393,823 | 326,272 |
| Advertising | 131,250 | 106,251 | 262,500 | 212,502 |
| Other expense | 690,038 | 618,270 | 1,462,903 | 1,605,704 |
| 4,551,780 | 3,661,613 | 8,681,455 | 7,784,847 | |
| Income Before Income Taxes | 2,234,107 | 1,853,119 | 4,152,088 | 3,606,745 |
| Provision for Income Taxes | 696,158 | 514,436 | 1,284,595 | 966,636 |
| Net Income | 1,537,949 | 1,338,683 | 2,867,493 | 2,640,109 |
| Preferred Stock Dividends and Discount Accretion | 111,000 | 357,210 | ||
| Net Income Available to Common Shareholders | $ 1,537,949 | $ 1,227,683 | $ 2,867,493 | $ 2,282,899 |
| Basic Income Per Common Share (in Dollars per share) | $ 0.35 | $ 0.29 | $ 0.66 | $ 0.61 |
| Diluted Income Per Common Share (in Dollars per share) | $ 0.35 | $ 0.28 | $ 0.65 | $ 0.60 |
Condensed Consolidated Stateme5
| Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
| Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
| NET INCOME | $ 1,537,949 | $ 1,338,683 | $ 2,867,493 | $ 2,640,109 |
| OTHER ITEMS OF COMPREHENSIVE INCOME (LOSS): | ||||
| Change in unrealized gain (loss) on investment securities available-for-sale, before income taxes | (1,030,923) | 1,248,693 | (243,613) | 2,533,631 |
| Less: Reclassification adjustment for realized gains on investment securities included in net income, before income taxes | (148,516) | (7,603) | (155,313) | (10,691) |
| Total other items in comprehensive income (loss) | (1,179,439) | 1,241,090 | (398,926) | 2,522,940 |
| Income tax expense (benefit) related to other items of comprehensive income | (436,393) | 459,203 | (147,603) | 933,488 |
| Other comprehensive income (loss) | (743,046) | 781,887 | (251,323) | 1,589,452 |
| TOTAL COMPREHENSIVE INCOME | $ 794,903 | $ 2,120,570 | $ 2,616,170 | $ 4,229,561 |
Condensed Consolidated Stateme6
| Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - 6 months ended Jun. 30, 2015 - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
| Balance, January 1, 2015 at Dec. 31, 2014 | $ 682,320 | $ 50,366,546 | $ (37,673,289) | $ 48,549,691 | $ (448,421) | $ 61,476,847 |
| Balance, June 30, 2015 at Jun. 30, 2015 | 684,450 | 50,272,806 | (37,273,116) | 50,978,228 | (699,744) | 63,962,624 |
| Net income | 2,867,493 | 2,867,493 | ||||
| Change in unrealized gain (loss) on available-for-sale securities, net of income taxes | $ (251,323) | (251,323) | ||||
| Dividends on common stock ($0.10 per share) | $ (438,956) | (438,956) | ||||
| Stock award plans | (202,914) | $ 400,173 | 197,259 | |||
| Stock options exercised | $ 2,130 | $ 109,174 | $ 111,304 |
Condensed Consolidated Stateme7
| Condensed Consolidated Statement of Stockholders' Equity (Unaudited) (Parentheticals) | 6 Months Ended |
| Jun. 30, 2015$ / shares | |
| Dividends on common stock | $ 0.10 |
Condensed Consolidated Stateme8
| Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
| Jun. 30, 2015 | Jun. 30, 2014 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income | $ 2,867,493 | $ 2,640,109 |
| Items not requiring (providing) cash: | ||
| Deferred income taxes | (66,960) | 254,961 |
| Depreciation | 450,843 | 382,086 |
| Provision for loan losses | 150,000 | 525,000 |
| Gain on sale of Small Business Administration loans | (344,439) | |
| Gain on sale of mortgage loans held for sale and investment securities | (899,088) | (446,936) |
| Gain (loss) on foreclosed assets held for sale | (8,905) | 25,593 |
| Amortization of deferred income, premiums and discounts | 397,669 | 313,135 |
| Stock award plan expense | 197,259 | 190,490 |
| Origination of loans held for sale | (27,448,305) | (14,709,615) |
| Proceeds from sale of loans held for sale | 27,788,422 | 14,547,659 |
| Increase in cash surrender value of bank owned life insurance | (180,420) | (184,969) |
| Changes in: | ||
| Accrued interest receivable | (55,264) | 13,403 |
| Prepaid expenses and other assets | 363,793 | 503,666 |
| Accounts payable and accrued expenses | (29,498) | (103,039) |
| Income taxes receivable | 30,292 | (128,952) |
| Net cash provided by operating activities | 3,212,892 | 3,822,591 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Net change in loans | (18,025,610) | 9,451,794 |
| Principal payments on held-to-maturity securities | 9,652 | 9,300 |
| Principal payments on available-for-sale securities | 4,960,336 | 4,235,914 |
| Proceeds from calls/maturities of available-for-sale securities | 3,151,000 | |
| Purchase of premises and equipment | (539,165) | (229,092) |
| Purchase of available-for-sale securities | (19,740,808) | (25,995,159) |
| Proceeds from sale of available-for-sale securities | 17,244,115 | 18,106,890 |
| Redemption of Federal Home Loan Bank stock | 319,400 | 6,200 |
| Proceeds from sale of foreclosed assets held for sale | 87,894 | 403,046 |
| Net cash provided by (used in) investing activities | (15,684,186) | 9,139,893 |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Cash dividends paid on common stock | (436,567) | |
| Net increase (decrease) in demand deposits, NOW and savings accounts | 39,790,239 | (4,450,772) |
| Net decrease in certificates of deposit | (61,439) | (1,715,598) |
| Net decrease of securities sold under agreements to repurchase | (10,000,000) | |
| Proceeds from FHLB advances | 1,050,000 | |
| Repayments of FHLB advances | (8,250,000) | (3,000,000) |
| Stock options exercised | 111,304 | 84,806 |
| Redemption of preferred stock | (12,000,000) | |
| Proceeds from issuance of common stock | 15,814,312 | |
| Advances from borrowers for taxes and insurance | 241,198 | 195,594 |
| Cash dividends paid on preferred stock | (413,000) | |
| Net cash provided by (used in) financing activities | 21,394,735 | (4,434,658) |
| INCREASE IN CASH AND CASH EQUIVALENTS | 8,923,441 | 8,527,826 |
| CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 12,493,890 | 12,303,200 |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | $ 21,417,331 | $ 20,831,026 |
Note 1 - Basis of Presentation
| Note 1 - Basis of Presentation | 6 Months Ended |
| Jun. 30, 2015 | |
| Disclosure Text Block [Abstract] | |
| Business Description and Basis of Presentation [Text Block] | Note 1: Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring accruals) considered necessary for a fair presentation have been included. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in Guaranty Federal Bancshares, Inc.’s (the “Company”) Annual Report on Form 10-K for the year ended December 31, 2014 filed with the Securities and Exchange Commission (the “SEC”). The results of operations for the periods are not necessarily indicative of the results to be expected for the full year. The condensed consolidated balance sheet of the Company as of December 31, 2014, has been derived from the audited consolidated balance sheet of the Company as of that date. Certain information and note disclosures normally included in the Company’s annual financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted. |
Note 2 - Principles of Consolid
| Note 2 - Principles of Consolidation | 6 Months Ended |
| Jun. 30, 2015 | |
| Disclosure Text Block [Abstract] | |
| Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 2: Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, Guaranty Bank (the “Bank”). All significant intercompany transactions and balances have been eliminated in consolidation. |
Note 3 - Securities
| Note 3 - Securities | 6 Months Ended |
| Jun. 30, 2015 | |
| Investments, Debt and Equity Securities [Abstract] | |
| Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | Note 3: Securities The amortized cost and approximate fair values of securities classified as available-for-sale were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Approximate Fair Value As of June 30, 2015 Equity Securities $ 102,212 $ 20,365 $ (12,012 ) $ 110,565 Debt Securities: U. S. government agencies 8,532,812 - (153,513 ) 8,379,299 Municipals 15,919,342 83,883 (184,754 ) 15,818,471 Corporates 3,950,889 13,996 (66,135 ) 3,898,750 Government sponsored mortgage-backed securities and SBA loan pools 56,014,245 98,797 (911,332 ) 55,201,710 $ 84,519,500 $ 217,041 $ (1,327,746 ) $ 83,408,795 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Approximate Fair Value As of December 31, 2014 Equity Securities $ 102,212 $ 16,121 $ (13,310 ) $ 105,023 Debt Securities: U. S. government agencies 10,528,055 - (271,282 ) 10,256,773 Municipals 15,474,316 185,747 (70,173 ) 15,589,890 Government sponsored mortgage-backed securities and SBA loan pools 61,075,181 235,977 (794,859 ) 60,516,299 $ 87,179,764 $ 437,845 $ (1,149,624 ) $ 86,467,985 Maturities of available-for-sale debt securities as of June 30, 2015: Amortized Cost Approximate Fair Value < 1 year $ 285,000 $ 285,382 1-5 years 4,727,836 4,702,048 6-10 years 11,415,094 11,267,064 After 10 years 11,975,113 11,842,026 Government sponsored mortgage-backed securities and SBA loans not due on a single maturity date 56,014,245 55,201,710 $ 84,417,288 $ 83,298,230 The amortized cost and approximate fair values of securities classified as held to maturity are as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Approximate Fair Value As of June 30, 2015 Debt Securities: Government sponsored mortgage-backed securities $ 51,341 $ 1,379 $ - $ 52,720 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Approximate Fair Value As of December 31, 2014 Debt Securities: Government sponsored mortgage-backed securities $ 60,993 $ 1,626 $ - $ 62,619 Maturities of held-to-maturity securities as of June 30, 2015: Amortized Cost Approximate Fair Value Government sponsored mortgage-backed securities not due on a single maturity date $ 51,341 $ 52,720 The book value of securities pledged as collateral, to secure public deposits and for other purposes, amounted to $60,804,064 and $53,355,716 as of June 30, 2015 and December 31, 2014, respectively. The approximate fair value of pledged securities amounted to $59,966,322 and $52,907,065 as of June 30, 2015 and December 31, 2014, respectively. Realized gains and losses are recorded as net securities gains. Gains on sales of securities are determined on the specific identification method. Gross gains of $155,313 and $10,691 as of June 30, 2015 and June 30, 2014, respectively, were realized from the sale of available-for-sale securities. The tax effect of these net gains was $57,466 and $3,956 as of June 30, 2015 and June 30, 2014, respectively. The Company evaluates all securities quarterly to determine if any unrealized losses are deemed to be other than temporary. Certain investment securities are valued at less than their historical cost. These declines are primarily the result of the rate for these investments yielding less than current market rates, or declines in stock prices of equity securities. Based on evaluation of available evidence, management believes the declines in fair value for these securities are temporary. It is management’s intent to hold the debt securities to maturity or until recovery of the unrealized loss. Should the impairment of any of these debt securities become other than temporary, the cost basis of the investment will be reduced and the resulting loss recognized in net income in the period the other-than-temporary impairment is identified, to the extent the loss is related to credit issues, and to other comprehensive income to the extent the decline on debt securities is related to other factors and the Company does not intend to sell the security prior to recovery of the unrealized loss. Certain other investments in debt and equity securities are reported in the financial statements at an amount less than their historical cost. Total fair value of these investments at June 30, 2015 and December 31, 2014, was $64,533,448 and $60,733,191, respectively, which is approximately 77% and 70% of the Company’s investment portfolio. These declines primarily resulted from changes in market interest rates and failure of certain investments to meet projected earnings targets. The following table shows gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at June 30, 2015 and December 31, 2014. June 30, 2015 Less than 12 Months 12 Months or More Total Description of Securities Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Equity Securities $ - $ - $ 35,915 $ (12,012 ) $ 35,915 $ (12,012 ) U. S. government agencies 2,911,150 (71,662 ) 5,468,149 (81,851 ) 8,379,299 (153,513 ) Municipals 10,042,716 (152,045 ) 702,305 (32,709 ) 10,745,021 (184,754 ) Corporates 3,008,750 (66,135 ) - - 3,008,750 (66,135 ) Government sponsored mortgage-backed securities and SBA loan pools 24,796,548 (341,405 ) 17,567,915 (569,927 ) 42,364,463 (911,332 ) $ 40,759,164 $ (631,247 ) $ 23,774,284 $ (696,499 ) $ 64,533,448 $ (1,327,746 ) December 31, 2014 Less than 12 Months 12 Months or More Total Description of Securities Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Equity Securities $ - $ - $ 34,618 $ (13,310 ) $ 34,618 $ (13,310 ) U. S. government agencies - - 10,256,773 (271,282 ) 10,256,773 (271,282 ) Municipals 2,677,626 (7,692 ) 5,859,560 (62,481 ) 8,537,186 (70,173 ) Government sponsored mortgage-backed securities and SBA loan pools 12,703,301 (70,049 ) 29,201,313 (724,810 ) 41,904,614 (794,859 ) $ 15,380,927 $ (77,741 ) $ 45,352,264 $ (1,071,883 ) $ 60,733,191 $ (1,149,624 ) |
Note 4 - Loans and Allowance fo
| Note 4 - Loans and Allowance for Loan Losses | 6 Months Ended |
| Jun. 30, 2015 | |
| Receivables [Abstract] | |
| Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 4: Loans and Allowance for Loan Losses June 30, December 31, 2015 2014 Real estate - residential mortgage: One to four family units $ 95,902,509 $ 97,900,814 Multi-family 39,993,133 33,785,959 Real estate - construction 35,368,786 36,784,584 Real estate - commercial 228,795,902 215,605,054 Commercial loans 89,707,877 92,114,216 Consumer and other loans 21,822,792 17,246,437 Total loans 511,590,998 493,437,064 Less: Allowance for loan losses (6,651,308 ) (6,588,597 ) Deferred loan fees/costs, net (307,566 ) (261,831 ) Net loans $ 504,632,124 $ 486,586,636 As of June 30, 2015 30-59 Days Past Due 60-89 Days Past Due 90 Days and more Past Due Total Past Due Current Total Loans Receivable Total Loans > 90 Days and Accruing (In Thousands) Real estate - residential mortgage: One to four family units $ 432 $ 111 $ 397 $ 940 $ 94,963 $ 95,903 $ - Multi-family - - - - 39,993 39,993 - Real estate - construction - - - - 35,368 35,368 - Real estate - commercial - - - - 228,796 228,796 - Commercial loans 125 612 220 957 88,751 89,708 - Consumer and other loans 1 5 29 35 21,788 21,823 - Total $ 558 $ 728 $ 646 $ 1,932 $ 509,659 $ 511,591 $ - As of December 31, 2014 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Total Past Due Current Total Loans Receivable Total Loans > 90 Days and Accruing (In Thousands) Real estate - residential mortgage: One to four family units $ 113 $ 428 $ 279 $ 820 $ 97,081 $ 97,901 $ - Multi-family - - - - 33,786 33,786 - Real estate - construction - - - - 36,785 36,785 - Real estate - commercial - - - - 215,605 215,605 - Commercial loans - - 227 227 91,887 92,114 - Consumer and other loans 23 35 - 58 17,188 17,246 - Total $ 136 $ 463 $ 506 $ 1,105 $ 492,332 $ 493,437 $ - June 30, December 31, 2014 2014 Real estate - residential mortgage: One to four family units $ 745,789 $ 911,240 Multi-family - - Real estate - construction 2,683,792 2,892,772 Real estate - commercial - 459,823 Commercial loans 938,908 1,026,772 Consumer and other loans 29,242 - Total $ 4,397,731 $ 5,290,607 Three months ended June 30, 2015 Construction Commercial Real Estate One to four family Multi-family Commercial Consumer and Other Unallocated Total Allowance for loan losses: (In Thousands) Balance, beginning of period $ 1,361 $ 1,986 $ 884 $ 133 $ 1,804 $ 221 $ 367 $ 6,756 Provision charged to expense (16 ) (41 ) 18 18 87 22 (88 ) $ - Losses charged off - - (99 ) - - (15 ) - $ (114 ) Recoveries 1 - 2 - 2 4 - $ 9 Balance, end of period $ 1,346 $ 1,945 $ 805 $ 151 $ 1,893 $ 232 $ 279 $ 6,651 Six months ended June 30, 2015 Construction Commercial Real Estate One to four family Multi-family Commercial Consumer and Other Unallocated Total Allowance for loan losses: (In Thousands) Balance, beginning of period $ 1,330 $ 1,992 $ 900 $ 127 $ 1,954 $ 185 $ 101 $ 6,589 Provision charged to expense 8 (47 ) (6 ) 24 (64 ) 57 178 $ 150 Losses charged off - - (99 ) - - (33 ) - $ (132 ) Recoveries 8 - 10 - 3 23 - $ 44 Balance, end of period $ 1,346 $ 1,945 $ 805 $ 151 $ 1,893 $ 232 $ 279 $ 6,651 Three months ended June 30, 2014 Construction Commercial Real Estate One to four family Multi-family Commercial Consumer and Other Unallocated Total Allowance for loan losses: (In Thousands) Balance, beginning of period $ 2,008 $ 2,344 $ 962 $ 147 $ 1,799 $ 228 $ 273 $ 7,761 Provision charged to expense 76 (51 ) 65 (1 ) 477 32 (273 ) $ 325 Losses charged off (207 ) (9 ) (14 ) - (1,058 ) (49 ) - $ (1,337 ) Recoveries 2 - 1 - 26 10 - $ 39 Balance, end of period $ 1,879 $ 2,284 $ 1,014 $ 146 $ 1,244 $ 221 $ - $ 6,788 Six months ended June 30, 2014 Construction Commercial Real Estate One to four family Multi-family Commercial Consumer and Other Unallocated Total Allowance for loan losses: (In Thousands) Balance, beginning of period $ 2,387 $ 2,059 $ 997 $ 209 $ 1,519 $ 272 $ 359 $ 7,802 Provision charged to expense (304 ) 234 114 (63 ) 914 (11 ) (359 ) $ 525 Losses charged off (207 ) (9 ) (100 ) - (1,222 ) (68 ) - $ (1,606 ) Recoveries 3 - 3 - 33 28 - $ 67 Balance, end of period $ 1,879 $ 2,284 $ 1,014 $ 146 $ 1,244 $ 221 $ - $ 6,788 The following tables present the recorded investment in loans based on portfolio segment and impairment method as of June 30, 2015 and December 31, 2014: As of June 30, 2015 Construction Commercial Real Estate One to four family Multi-family Commercial Consumer and Other Unallocated Total Allowance for loan losses: (In Thousands) Ending balance: individually evaluated for impairment $ 375 $ - $ - $ - $ 313 $ 21 $ - $ 709 Ending balance: collectively evaluated for impairment $ 971 $ 1,945 $ 805 $ 151 $ 1,580 $ 211 $ 279 $ 5,942 Loans: Ending balance: individually evaluated for impairment $ 2,684 $ - $ 745 $ - $ 939 $ 2,279 $ - $ 6,647 Ending balance: collectively evaluated for impairment $ 32,684 $ 228,796 $ 95,158 $ 39,993 $ 88,769 $ 19,544 $ - $ 504,944 December 31, 2014 Construction Commercial Real Estate One to four family Multi-family Commercial Consumer and Other Unallocated Total Allowance for loan losses: (In Thousands) Ending balance: individually evaluated for impairment $ 376 $ 158 $ 36 $ - $ 203 $ 12 $ - $ 785 Ending balance: collectively evaluated for impairment $ 954 $ 1,834 $ 864 $ 127 $ 1,751 $ 173 $ 101 $ 5,804 Loans: Ending balance: individually evaluated for impairment $ 2,893 $ 460 $ 847 $ - $ 1,027 $ 801 $ - $ 6,028 Ending balance: collectively evaluated for impairment $ 33,892 $ 215,145 $ 97,054 $ 33,786 $ 91,087 $ 16,445 $ - $ 487,409 The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to income. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectibility of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of allocated and general components. The allocated component relates to loans that are classified as impaired. For those loans that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers nonclassified loans and is based on historical charge-off experience and expected loss given default derived from the Bank’s internal risk rating process. Other adjustments may be made to the allowance for pools of loans after an assessment of internal or external influences on credit quality that are not fully reflected in the historical loss or risk rating data. A loan is considered impaired when, based on current information and events, it is probable that the Bank will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price or the fair value of the collateral if the loan is collateral dependent. Groups of loans with similar risk characteristics are collectively evaluated for impairment based on the group’s historical loss experience adjusted for changes in trends, conditions and other relevant factors that affect repayment of the loans. The following table summarizes the recorded investment in impaired loans at June 30, 2015 and December 31, 2014: June 30, 2015 December 31, 2014 Recorded Balance Unpaid Principal Balance Specific Allowance Recorded Balance Unpaid Principal Balance Specific Allowance (In Thousands) Loans without a specific valuation allowance Real estate - residential mortgage: One to four family units $ 746 $ 746 $ - $ 632 $ 632 $ - Multi-family - - - - - - Real estate - construction 74 74 - 74 74 - Real estate - commercial - - - - - - Commercial loans 326 326 - 341 341 - Consumer and other loans 2,265 2,265 - - - - Loans with a specific valuation allowance Real estate - residential mortgage: One to four family units $ - $ - $ - $ 279 $ 279 $ 36 Multi-family - - - - - - Real estate - construction 2,610 3,865 375 2,819 4,074 376 Real estate - commercial - - - 460 460 158 Commercial loans 613 916 313 685 988 203 Consumer and other loans 183 183 21 91 91 12 Total Real estate - residential mortgage: One to four family units $ 746 $ 746 $ - $ 911 $ 911 $ 36 Multi-family - - - - - - Real estate - construction 2,684 3,939 375 2,893 4,148 376 Real estate - commercial - - - 460 460 158 Commercial loans 939 1,242 313 1,026 1,329 203 Consumer and other loans 2,448 2,448 21 91 91 12 Total $ 6,817 $ 8,375 $ 709 $ 5,381 $ 6,939 $ 785 The following table summarizes average impaired loans and related interest recognized on impaired loans for the three and six months ended June 30, 2015 and 2014: For the Three Months Ended For the Three Months Ended June 30, 2015 June 30, 2014 Average Investment in Impaired Loans Interest Income Recognized Average Investment in Impaired Loans Interest Income Recognized (In Thousands) Loans without a specific valuation allowance Real estate - residential mortgage: One to four family units $ 749 $ 1 $ 823 $ - Multi-family - - - - Real estate - construction 74 - 94 - Real estate - commercial - - 264 - Commercial loans 327 - 3,486 98 Consumer and other loans 16 - - - Loans with a specific valuation allowance Real estate - residential mortgage: One to four family units $ 361 $ - $ 325 $ - Multi-family - - - - Real estate - construction 2,610 - 3,532 - Real estate - commercial - - 574 - Commercial loans 620 - 699 - Consumer and other loans 127 - 272 - Total Real estate - residential mortgage: One to four family units $ 1,110 $ 1 $ 1,148 $ - Multi-family - - - - Real estate - construction 2,684 - 3,626 - Real estate - commercial - - 838 - Commercial loans 947 - 4,185 98 Consumer and other loans 143 - 272 - Total $ 4,884 $ 1 $ 10,069 $ 98 For the Six Months Ended For the Six Months Ended June 30, 2015 June 30, 2014 Average Investment in Impaired Loans Interest Income Recognized Average Investment in Impaired Loans Interest Income Recognized (In Thousands) Loans without a specific valuation allowance Real estate - residential mortgage: One to four family units $ 729 $ 2 $ 752 $ 1 Multi-family - - - - Real estate - construction 74 - 95 - Real estate - commercial - - 408 - Commercial loans 332 - 3,088 98 Consumer and other loans 13 - - - Loans with a specific valuation allowance Real estate - residential mortgage: One to four family units $ 456 $ - $ 329 $ - Multi-family - - - - Real estate - construction 2,680 - 3,883 - Real estate - commercial - - 412 - Commercial loans 621 - 1,897 - Consumer and other loans 139 - 375 - Total Real estate - residential mortgage: One to four family units $ 1,185 $ 2 $ 1,081 $ 1 Multi-family - - - - Real estate - construction 2,754 - 3,978 - Real estate - commercial - - 820 - Commercial loans 953 - 4,985 98 Consumer and other loans 152 - 375 - Total $ 5,044 $ 2 $ 11,239 $ 99 At June 30, 2015, the Bank’s impaired loans shown in the table above included loans that were classified as troubled debt restructurings (“TDR”). The restructuring of a loan is considered a TDR if both (i) the borrower is experiencing financial difficulties and (ii) the creditor has granted a concession. In assessing whether or not a borrower is experiencing financial difficulties, the Bank considers information currently available regarding the financial condition of the borrower. This information includes, but is not limited to, whether (i) the debtor is currently in payment default on any of its debt; (ii) a payment default is probable in the foreseeable future without the modification; (iii) the debtor has declared or is in the process of declaring bankruptcy and (iv) the debtor’s projected cash flow is sufficient to satisfy the contractual payments due under the original terms of the loan without a modification. The Bank considers all aspects of the modification to loan terms to determine whether or not a concession has been granted to the borrower. Key factors considered by the Bank include the debtor’s ability to access funds at a market rate for debt with similar risk characteristics, the significance of the modification relative to unpaid principal balance or collateral value of the debt, and the significance of a delay in the timing of payments relative to the original contractual terms of the loan. The most common concessions granted by the Bank generally include one or more modifications to the terms of the debt, such as (i) a reduction in the interest rate for the remaining life of the debt, (ii) an extension of the maturity date at an interest rate lower than the current market rate for new debt with similar risk, (iii) a reduction on the face amount or maturity amount of the debt as stated in the original loan, (iv) a temporary period of interest-only payments, (v) a reduction in accrued interest, and (vi) an extension of amortization. The following table presents the carrying balance of TDRs as of June 30, 2015 and December 31, 2014: June 30, December 31, 2015 2014 Real estate - residential mortgage: One to four family units $ 220,087 $ 505,047 Multi-family - - Real estate - construction 2,683,792 2,892,772 Real estate - commercial - 459,823 Commercial loans 719,108 799,572 Consumer and other loans - - Total $ 3,622,987 $ 4,657,214 The bank did not have any new TDRs for the six months ending June 30, 2015. The Bank has allocated $687,284 and $773,652 of specific reserves to customers whose loan terms have been modified in TDR as of June 30, 2015 and December 31, 2014, respectively. There were no TDRs for which there was a payment default within twelve months following the modification during the six months ending June 30, 2015 and 2014. A loan is considered to be in payment default once it is 90 days contractually past due under the modified terms. As part of the on-going monitoring of the credit quality of the Bank’s loan portfolio, management tracks loans by an internal rating system. All loans are assigned an internal credit quality rating based on an analysis of the borrower’s financial condition. The criteria used to assign quality ratings to extensions of credit that exhibit potential problems or well-defined weaknesses are primarily based upon the degree of risk and the likelihood of orderly repayment, and their effect on the Bank’s safety and soundness. The following are the internally assigned ratings: Pass: This rating represents loans that have strong asset quality and liquidity along with a multi-year track record of profitability. Special mention: This rating represents loans that are currently protected but are potentially weak. The credit risk may be relatively minor, yet constitute an increased risk in light of the circumstances surrounding a specific loan. Substandard: This rating represents loans that show signs of continuing negative financial trends and unprofitability and therefore, is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Doubtful: This rating represents loans that have all the weaknesses of substandard classified loans with the additional characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Risk characteristics applicable to each segment of the loan portfolio are described as follows. Real estate-Residential 1-4 family: The residential 1-4 family real estate loans are generally secured by owner-occupied 1-4 family residences. Repayment of these loans is primarily dependent on the personal income and credit rating of the borrowers. Credit risk in these loans can be impacted by economic conditions within the Bank’s market areas that might impact either property values or a borrower’s personal income. Risk is mitigated by the fact that the loans are of smaller individual amounts and spread over a large number of borrowers. Real estate-Construction: Construction and land development real estate loans are usually based upon estimates of costs and estimated value of the completed project and include independent appraisal reviews and a financial analysis of the developers and property owners. Sources of repayment of these loans may include permanent loans, sales of developed property or an interim loan commitment from the Bank until permanent financing is obtained. These loans are considered to be higher risk than other real estate loans due to their ultimate repayment being sensitive to interest rate changes, general economic conditions and the availability of long-term financing. Credit risk in these loans may be impacted by the creditworthiness of a borrower, property values and the local economies in the Bank’s market areas. Real estate-Commercial: Commercial real estate loans typically involve larger principal amounts, and repayment of these loans is generally dependent on the successful operations of the property securing the loan or the business conducted on the property securing the loan. These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Credit risk in these loans may be impacted by the creditworthiness of a borrower, property values and the local economies in the Bank’s market areas. Commercial: The commercial portfolio includes loans to commercial customers for use in financing working capital needs, equipment purchases and expansions. The loans in this category are repaid primarily from the cash flow of a borrower’s principal business operation. Credit risk in these loans is driven by creditworthiness of a borrower and the economic conditions that impact the cash flow stability from business operations. Consumer: The consumer loan portfolio consists of various term and line of credit loans such as automobile loans and loans for other personal purposes. Repayment for these types of loans will come from a borrower’s income sources that are typically independent of the loan purpose. Credit risk is driven by consumer economic factors (such as unemployment and general economic conditions in the Bank’s market area) and the creditworthiness of a borrower. The following tables provide information about the credit quality of the loan portfolio using the Bank’s internal rating system as of June 30, 2015 and December 31, 2014: June 30, 2015 Construction Commercial Real Estate One to four family Multi-family Commercial Consumer and Other Total (In Thousands) Rating: Pass $ 25,735 $ 218,931 $ 88,399 $ 39,414 $ 79,300 $ 21,491 $ 473,270 Special Mention 6,949 3,900 5,225 579 3,595 - 20,248 Substandard 2,684 5,965 2,279 - 6,209 332 17,469 Doubtful - - - - 604 - 604 Total $ 35,368 $ 228,796 $ 95,903 $ 39,993 $ 89,708 $ 21,823 $ 511,591 December 31, 2014 Construction Commercial Real Estate One to four family Multi-family Commercial Consumer and Other Total (In Thousands) Rating: Pass $ 27,370 $ 207,311 $ 94,129 $ 33,786 $ 78,197 $ 17,015 $ 457,808 Special Mention 6,522 5,076 2,501 - 10,273 - 24,372 Substandard 2,893 2,758 1,271 - 3,644 231 10,797 Doubtful - 460 - - - - 460 Total $ 36,785 $ 215,605 $ 97,901 $ 33,786 $ 92,114 $ 17,246 $ 493,437 For loans amortized at cost, interest income is accrued based on the unpaid principal balance. Loan origination fees net of certain direct origination costs, are deferred and amortized as a level yield adjustment over the respective term of the loan. The accrual of interest on loans is discontinued at the time the loan is 90 days past due unless the loan is well-secured and in process of collection. Past due status is based on contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged off at an earlier date if collection of principal or interest is considered doubtful. All interest accrued but not collected for loans that are placed on nonaccrual or charged off is reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. |
Note 5 - Benefit Plans
| Note 5 - Benefit Plans | 6 Months Ended |
| Jun. 30, 2015 | |
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
| Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 5: Benefit Plans The Company has stock-based employee compensation plans, which are described in the Company’s December 31, 2014 Annual Report on Form 10-K. The following tables below summarize transactions under the Company’s equity plans for six months ended June 30, 2015: Stock Options Number of shares Incentive Stock Option Non-Incentive Stock Option Weighted Average Exercise Price Balance outstanding as of January 1, 2015 140,300 82,500 $ 18.23 Granted - - - Exercised (1,300 ) (20,000 ) 5.23 Forfeited (18,000 ) - 23.33 Balance outstanding as of June 30, 2015 121,000 62,500 19.24 Options exercisable as of June 30, 2015 121,000 62,500 19.24 Restricted Stock Number of Shares Weighted Average Grant-Date Fair Value Balance of shares non-vested as of January 1, 2015 30,503 $ 10.26 Granted 28,451 14.78 Vested (15,083 ) 11.64 Forfeited - - Balance of shares non-vested as of June 30, 2015 43,871 12.72 The total intrinsic value of stock options exercised for the six months ended June 30, 2015 and 2014 was $201,406 and $116,226, respectively. The total intrinsic value of outstanding stock options was $670,810 and $833,326 at June 30, 2015 and 2014. The total intrinsic value of outstanding exercisable stock options was $670,810 and $713,282 at June 30, 2015 and 2014. The total fair value of share awards vested was $138,368 and $258,750 during the six months ended June 30, 2015 and 2014, respectively. In February 2015 and 2014, the Company granted restricted stock to directors pursuant to the 2010 Equity Plan that was fully vested and thus, expensed in full on the date of the grants. The amount expensed was $122,476 and $122,538 for 2015 and 2014, respectively, which represents 8,281 shares of common stock at a market price of $14.79 at the date of grant in 2015 and 11,242 shares of common stock at a market price of $10.90 at the date of grant in 2014. In June 2015, the Company granted 966 shares of restricted stock to directors that have a cliff vesting at the end of three years. The expense is being recognized over the applicable vesting period. The amount expensed for the six months ended June 30, 2015 was $77. For the six months ended June 30, 2015 and 2014, the Company granted 19,204 and 23,320 shares of restricted stock to officers that have a cliff vesting at the end of three years. The expense is being recognized over the applicable vesting period. The total amount of expense for restricted stock grants during the six months ended June 30, 2015 and 2014 was $85,943 and $51,322, respectively. Stock-based compensation expense, consisting of stock options and restricted stock awards, recognized for the three months ended June 30, 2015 and 2014 was $43,580 and $30,918, respectively. Stock-based compensation expense recognized for the six months ended June 30, 2015 and 2014 was $208,730 and $190,490 respectively. As of June 30, 2015, there was $402,816 of unrecognized compensation expense related to nonvested restricted stock awards, which will be recognized over the remaining vesting period. |
Note 6 - Income Per Common Shar
| Note 6 - Income Per Common Share | 6 Months Ended |
| Jun. 30, 2015 | |
| Earnings Per Share [Abstract] | |
| Earnings Per Share [Text Block] | Note 6: Income Per Common Share For three months ended June 30, 2015 For six months ended June 30, 2015 Income Available to Common Shareholders Average Common Shares Outstanding Per Common Share Income Available to Common Shareholders Average Common Shares Outstanding Per Common Share Basic Income Per Common Share $ 1,537,949 4,334,288 $ 0.35 $ 2,867,493 4,324,811 $ 0.66 Effect of Dilutive Securities 54,038 56,405 Diluted Income Per Common Share $ 1,537,949 4,388,326 $ 0.35 $ 2,867,493 4,381,216 $ 0.65 For three months ended June 30, 2014 For six months ended June 30, 2014 Income Available to Common Shareholders Average Common Shares Outstanding Per Common Share Income Available to Common Shareholders Average Common Shares Outstanding Per Common Share Basic Income Per Common Share $ 1,227,683 4,265,050 $ 0.29 $ 2,282,899 3,718,791 $ 0.61 Effect of Dilutive Securities 72,430 72,988 Diluted Income Per Common Share $ 1,227,683 4,337,480 $ 0.28 $ 2,282,899 3,791,779 $ 0.60 Stock options to purchase 108,500 of common stock were outstanding during the three and six months ended June 30, 2015 and stock options to purchase 136,500 shares of common stock were outstanding during the three and six months ended June 30, 2014 but were not included in the computation of diluted income per common share because their exercise prices were greater than the average market price of the common shares. |
Note 7 - New Accounting Pronoun
| Note 7 - New Accounting Pronouncements | 6 Months Ended |
| Jun. 30, 2015 | |
| New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
| New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | Note 7: New Accounting Pronouncements In February 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis In January 2015, the Company adopted FASB ASU No. 2014-01, which amends FASB ASC Topic 323, Investments – Equity Method and Joint Ventures flow-through limited liability entities that manage or invest in affordable housing projects that qualify for the low-income housing tax credit. The amendments in the update permit reporting entities to make an accounting policy election to account for their investments in qualified affordable housing projects using the proportional amortization method if certain conditions are met. Under the proportional amortization method, an entity amortizes the initial cost of the investment in proportion to the tax credits and other tax benefits received and recognizes the net investment performance in the income statement as a component of income tax expense. The Company does have significant investments in such qualified affordable housing projects that meet the conditions for utilizing the proportional amortization method. As a result of the Company’s adoption of this ASU, the investment amortization expense of $221,370 and $442,740, respectively, for the three and six months ended June 30, 2014 which was included in Other Non-interest Expense in the Condensed Consolidated Statements of Income, is now included in Provision for Income Taxes in the Condensed Consolidated Statements of Income. In June 2014, the FASB issued ASU No. 2014-11 “ Transfers and Servicing (Topic 860)-Repurchase to Maturity Transactions, Repurchase Financings, and Disclosures.” In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606): Revenue from Contracts with Customers In January 2014, the FASB issued ASU No. 2014-04 to amend FASB ASC Topic 310, Receivables – Troubled Debt Restructurings by Creditors |
Note 8 - Disclosures about Fair
| Note 8 - Disclosures about Fair Value of Assets and Liabilities | 6 Months Ended |
| Jun. 30, 2015 | |
| Fair Value Disclosures [Abstract] | |
| Fair Value Disclosures [Text Block] | Note 8: Disclosures about Fair Value of Assets and Liabilities ASC Topic 820, Fair Value Measurements Level 1 Level 2 Level 3 The following is a description of the inputs and valuation methodologies used for assets measured at fair value on a recurring basis and recognized in the accompanying condensed consolidated balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. Available-for-sale securities: The following table presents the fair value measurements of assets recognized in the accompanying condensed consolidated balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at June 30, 2015 and December 31, 2014 (dollar amounts in thousands): June 30, 2015 Financial assets: Level 1 inputs Level 2 inputs Level 3 inputs Total fair value Equity securities $ 111 $ - $ - $ 111 Debt securities: U.S. government agencies - 8,379 - 8,379 Municipals - 15,818 - 15,818 Corporates Government sponsored mortgage-backed - 3,899 - 3,899 securities and SBA loan pools - 55,202 - 55,202 Available-for-sale securities $ 111 $ 83,298 $ - $ 83,409 December 31, 2014 Financial assets: Level 1 inputs Level 2 inputs Level 3 inputs Total fair value Equity securities $ 105 $ - $ - $ 105 Debt securities: U.S. government agencies - 10,257 - 10,257 Municipals - 15,590 - 15,590 Government sponsored mortgage-backed securities and SBA loan pools - 60,516 - 60,516 Available-for-sale securities $ 105 $ 86,363 $ - $ 86,468 The following is a description of the valuation methodologies used for assets measured at fair value on a nonrecurring basis and recognized in the accompanying balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. Foreclosed Assets Held for Sale : Impaired loans (Collateral Dependent) : If the impaired loan is identified as collateral dependent, then the fair value method of measuring the amount of impairment is utilized. This method requires obtaining a current independent appraisal of the collateral and applying a discount factor to the value. Impaired loans that are collateral dependent are classified within Level 3 of the fair value hierarchy when impairment is determined using the fair value method. The following table presents the fair value measurement of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at June 30, 2015 and December 31, 2014 (dollar amounts in thousands): Impaired loans: Level 1 inputs Level 2 inputs Level 3 inputs Total fair value June 30, 2015 $ - $ - $ 3,719 $ 3,719 December 31, 2014 $ - $ - $ 4,076 $ 4,076 Foreclosed assets held for sale: Level 1 inputs Level 2 inputs Level 3 inputs Total fair value June 30, 2015 $ - $ - $ 190 $ 190 December 31, 2014 $ - $ - $ 354 $ 354 There were no transfers between valuation levels for any asset during the six months ended June 30, 2015 or 2014. If valuation techniques are deemed necessary, the Company considers those transfers to occur at the end of the period when the assets are valued. The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurement (dollar amounts in thousands): Fair Value June 30, 2015 Valuation Technique Unobservable Input Range (Weighted Average) Impaired loans (collateral dependent) $ 3,403 Market Comparable Discount to reflect realizable value 0%-14% (10%) Impaired loans $ 316 Discounted cash flow Discount rate 0%-51% (50%) Foreclosed assets held for sale $ 190 Market Comparable Discount to reflect realizable value 0% The following methods were used to estimate the fair value of all other financial instruments recognized in the accompanying condensed consolidated balance sheets at amounts other than fair value. Cash and cash equivalents, interest-bearing deposits and Federal Home Loan Bank stock The carrying amounts reported in the condensed consolidated balance sheets approximate those assets' fair value. Held-to-maturity securities Fair value is based on quoted market prices, if available. If a quoted market price is not available, fair value is estimated using quoted market prices for similar securities. Loans The fair value of loans is estimated by discounting the future cash flows using the market rates at which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. Loans with similar characteristics were aggregated for purposes of the calculations. The carrying amount of accrued interest approximates its fair value. Deposits Deposits include demand deposits, savings accounts, NOW accounts and certain money market deposits. The carrying amount approximates fair value. The fair value of fixed-maturity certificates of deposit is estimated by discounting the future cash flows using rates currently offered for deposits of similar remaining maturities. Federal Home Loan Bank advances and securities sold under agreements to repurchase The fair value of advances and securities sold under agreements to repurchase is estimated by using rates on debt with similar terms and remaining maturities. Subordinated debentures For these variable rate instruments, the carrying amount is a reasonable estimate of fair value. There is currently a limited market for similar debt instruments and the Company has the option to call the subordinated debentures at an amount close to its par value. Interest payable The carrying amount approximates fair value. Commitments to originate loans, letters of credit and lines of credit The fair value of commitments to originate loans is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present credit worthiness of the counterparties. For fixed-rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. The fair value of letters of credit and lines of credit are based on fees currently charged for similar agreements or on the estimated cost to terminate them or otherwise settle the obligations with the counterparties at the reporting date. The following tables present estimated fair values of the Company’s financial instruments at June 30, 2015 and December 31, 2014. June 30, 2015 Carrying Amount Fair Value Hierarchy Level Financial assets: Cash and cash equivalents $ 21,417,331 $ 21,417,331 1 Held-to-maturity securities 51,341 52,720 2 Federal Home Loan Bank stock 2,837,500 2,837,500 2 Mortgage loans held for sale 1,618,290 1,618,290 2 Loans, net 504,632,124 504,621,172 3 Interest receivable 2,085,322 2,085,322 2 Financial liabilities: Deposits 519,547,082 516,151,059 2 Federal Home Loan Bank advances 52,100,000 53,565,166 2 Subordinated debentures 15,465,000 15,465,000 3 Interest payable 195,937 195,937 2 Unrecognized financial instruments (net of contractual value): Commitments to extend credit - - - Unused lines of credit - - - December 31, 2014 Carrying Amount Fair Value Hierarchy Level Financial assets: Cash and cash equivalents $ 12,493,890 $ 12,493,890 1 Held-to-maturity securities 60,993 62,619 2 Federal Home Loan Bank stock 3,156,900 3,156,900 2 Mortgage loans held for sale 1,214,632 1,214,632 2 Loans, net 486,586,636 487,244,753 3 Interest receivable 2,030,058 2,030,058 2 Financial liabilities: Deposits 479,818,282 476,519,750 2 Federal Home Loan Bank advances 60,350,000 61,615,252 2 Securities sold under agreements to repurchase 10,000,000 10,371,866 2 Subordinated debentures 15,465,000 15,465,000 3 Interest payable 242,145 242,145 2 Unrecognized financial instruments (net of contractual value): Commitments to extend credit - - - Unused lines of credit - - - |
Note 3 - Securities (Tables)
| Note 3 - Securities (Tables) | 6 Months Ended |
| Jun. 30, 2015 | |
| Note 3 - Securities (Tables) [Line Items] | |
| Schedule of Available-for-sale Securities Reconciliation [Table Text Block] | Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Approximate Fair Value As of June 30, 2015 Equity Securities $ 102,212 $ 20,365 $ (12,012 ) $ 110,565 Debt Securities: U. S. government agencies 8,532,812 - (153,513 ) 8,379,299 Municipals 15,919,342 83,883 (184,754 ) 15,818,471 Corporates 3,950,889 13,996 (66,135 ) 3,898,750 Government sponsored mortgage-backed securities and SBA loan pools 56,014,245 98,797 (911,332 ) 55,201,710 $ 84,519,500 $ 217,041 $ (1,327,746 ) $ 83,408,795 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Approximate Fair Value As of December 31, 2014 Equity Securities $ 102,212 $ 16,121 $ (13,310 ) $ 105,023 Debt Securities: U. S. government agencies 10,528,055 - (271,282 ) 10,256,773 Municipals 15,474,316 185,747 (70,173 ) 15,589,890 Government sponsored mortgage-backed securities and SBA loan pools 61,075,181 235,977 (794,859 ) 60,516,299 $ 87,179,764 $ 437,845 $ (1,149,624 ) $ 86,467,985 |
| Available-for-sale Securities [Table Text Block] | Amortized Cost Approximate Fair Value < 1 year $ 285,000 $ 285,382 1-5 years 4,727,836 4,702,048 6-10 years 11,415,094 11,267,064 After 10 years 11,975,113 11,842,026 Government sponsored mortgage-backed securities and SBA loans not due on a single maturity date 56,014,245 55,201,710 $ 84,417,288 $ 83,298,230 |
| Held-to-maturity Securities [Table Text Block] | Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Approximate Fair Value As of June 30, 2015 Debt Securities: Government sponsored mortgage-backed securities $ 51,341 $ 1,379 $ - $ 52,720 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Approximate Fair Value As of December 31, 2014 Debt Securities: Government sponsored mortgage-backed securities $ 60,993 $ 1,626 $ - $ 62,619 |
| Schedule of Unrealized Loss on Investments [Table Text Block] | June 30, 2015 Less than 12 Months 12 Months or More Total Description of Securities Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Equity Securities $ - $ - $ 35,915 $ (12,012 ) $ 35,915 $ (12,012 ) U. S. government agencies 2,911,150 (71,662 ) 5,468,149 (81,851 ) 8,379,299 (153,513 ) Municipals 10,042,716 (152,045 ) 702,305 (32,709 ) 10,745,021 (184,754 ) Corporates 3,008,750 (66,135 ) - - 3,008,750 (66,135 ) Government sponsored mortgage-backed securities and SBA loan pools 24,796,548 (341,405 ) 17,567,915 (569,927 ) 42,364,463 (911,332 ) $ 40,759,164 $ (631,247 ) $ 23,774,284 $ (696,499 ) $ 64,533,448 $ (1,327,746 ) December 31, 2014 Less than 12 Months 12 Months or More Total Description of Securities Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Equity Securities $ - $ - $ 34,618 $ (13,310 ) $ 34,618 $ (13,310 ) U. S. government agencies - - 10,256,773 (271,282 ) 10,256,773 (271,282 ) Municipals 2,677,626 (7,692 ) 5,859,560 (62,481 ) 8,537,186 (70,173 ) Government sponsored mortgage-backed securities and SBA loan pools 12,703,301 (70,049 ) 29,201,313 (724,810 ) 41,904,614 (794,859 ) $ 15,380,927 $ (77,741 ) $ 45,352,264 $ (1,071,883 ) $ 60,733,191 $ (1,149,624 ) |
| Held-to-maturity Securities [Member] | |
| Note 3 - Securities (Tables) [Line Items] | |
| Held-to-maturity Securities [Table Text Block] | Amortized Cost Approximate Fair Value Government sponsored mortgage-backed securities not due on a single maturity date $ 51,341 $ 52,720 |
Note 4 - Loans and Allowance 18
| Note 4 - Loans and Allowance for Loan Losses (Tables) | 6 Months Ended |
| Jun. 30, 2015 | |
| Receivables [Abstract] | |
| Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, December 31, 2015 2014 Real estate - residential mortgage: One to four family units $ 95,902,509 $ 97,900,814 Multi-family 39,993,133 33,785,959 Real estate - construction 35,368,786 36,784,584 Real estate - commercial 228,795,902 215,605,054 Commercial loans 89,707,877 92,114,216 Consumer and other loans 21,822,792 17,246,437 Total loans 511,590,998 493,437,064 Less: Allowance for loan losses (6,651,308 ) (6,588,597 ) Deferred loan fees/costs, net (307,566 ) (261,831 ) Net loans $ 504,632,124 $ 486,586,636 |
| Past Due Financing Receivables [Table Text Block] | 30-59 Days Past Due 60-89 Days Past Due 90 Days and more Past Due Total Past Due Current Total Loans Receivable Total Loans > 90 Days and Accruing (In Thousands) Real estate - residential mortgage: One to four family units $ 432 $ 111 $ 397 $ 940 $ 94,963 $ 95,903 $ - Multi-family - - - - 39,993 39,993 - Real estate - construction - - - - 35,368 35,368 - Real estate - commercial - - - - 228,796 228,796 - Commercial loans 125 612 220 957 88,751 89,708 - Consumer and other loans 1 5 29 35 21,788 21,823 - Total $ 558 $ 728 $ 646 $ 1,932 $ 509,659 $ 511,591 $ - 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Total Past Due Current Total Loans Receivable Total Loans > 90 Days and Accruing (In Thousands) Real estate - residential mortgage: One to four family units $ 113 $ 428 $ 279 $ 820 $ 97,081 $ 97,901 $ - Multi-family - - - - 33,786 33,786 - Real estate - construction - - - - 36,785 36,785 - Real estate - commercial - - - - 215,605 215,605 - Commercial loans - - 227 227 91,887 92,114 - Consumer and other loans 23 35 - 58 17,188 17,246 - Total $ 136 $ 463 $ 506 $ 1,105 $ 492,332 $ 493,437 $ - |
| Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | June 30, December 31, 2014 2014 Real estate - residential mortgage: One to four family units $ 745,789 $ 911,240 Multi-family - - Real estate - construction 2,683,792 2,892,772 Real estate - commercial - 459,823 Commercial loans 938,908 1,026,772 Consumer and other loans 29,242 - Total $ 4,397,731 $ 5,290,607 |
| Allowance for Credit Losses on Financing Receivables [Table Text Block] | Three months ended June 30, 2015 Construction Commercial Real Estate One to four family Multi-family Commercial Consumer and Other Unallocated Total Allowance for loan losses: (In Thousands) Balance, beginning of period $ 1,361 $ 1,986 $ 884 $ 133 $ 1,804 $ 221 $ 367 $ 6,756 Provision charged to expense (16 ) (41 ) 18 18 87 22 (88 ) $ - Losses charged off - - (99 ) - - (15 ) - $ (114 ) Recoveries 1 - 2 - 2 4 - $ 9 Balance, end of period $ 1,346 $ 1,945 $ 805 $ 151 $ 1,893 $ 232 $ 279 $ 6,651 Six months ended June 30, 2015 Construction Commercial Real Estate One to four family Multi-family Commercial Consumer and Other Unallocated Total Allowance for loan losses: (In Thousands) Balance, beginning of period $ 1,330 $ 1,992 $ 900 $ 127 $ 1,954 $ 185 $ 101 $ 6,589 Provision charged to expense 8 (47 ) (6 ) 24 (64 ) 57 178 $ 150 Losses charged off - - (99 ) - - (33 ) - $ (132 ) Recoveries 8 - 10 - 3 23 - $ 44 Balance, end of period $ 1,346 $ 1,945 $ 805 $ 151 $ 1,893 $ 232 $ 279 $ 6,651 Three months ended June 30, 2014 Construction Commercial Real Estate One to four family Multi-family Commercial Consumer and Other Unallocated Total Allowance for loan losses: (In Thousands) Balance, beginning of period $ 2,008 $ 2,344 $ 962 $ 147 $ 1,799 $ 228 $ 273 $ 7,761 Provision charged to expense 76 (51 ) 65 (1 ) 477 32 (273 ) $ 325 Losses charged off (207 ) (9 ) (14 ) - (1,058 ) (49 ) - $ (1,337 ) Recoveries 2 - 1 - 26 10 - $ 39 Balance, end of period $ 1,879 $ 2,284 $ 1,014 $ 146 $ 1,244 $ 221 $ - $ 6,788 Six months ended June 30, 2014 Construction Commercial Real Estate One to four family Multi-family Commercial Consumer and Other Unallocated Total Allowance for loan losses: (In Thousands) Balance, beginning of period $ 2,387 $ 2,059 $ 997 $ 209 $ 1,519 $ 272 $ 359 $ 7,802 Provision charged to expense (304 ) 234 114 (63 ) 914 (11 ) (359 ) $ 525 Losses charged off (207 ) (9 ) (100 ) - (1,222 ) (68 ) - $ (1,606 ) Recoveries 3 - 3 - 33 28 - $ 67 Balance, end of period $ 1,879 $ 2,284 $ 1,014 $ 146 $ 1,244 $ 221 $ - $ 6,788 As of June 30, 2015 Construction Commercial Real Estate One to four family Multi-family Commercial Consumer and Other Unallocated Total Allowance for loan losses: (In Thousands) Ending balance: individually evaluated for impairment $ 375 $ - $ - $ - $ 313 $ 21 $ - $ 709 Ending balance: collectively evaluated for impairment $ 971 $ 1,945 $ 805 $ 151 $ 1,580 $ 211 $ 279 $ 5,942 Loans: Ending balance: individually evaluated for impairment $ 2,684 $ - $ 745 $ - $ 939 $ 2,279 $ - $ 6,647 Ending balance: collectively evaluated for impairment $ 32,684 $ 228,796 $ 95,158 $ 39,993 $ 88,769 $ 19,544 $ - $ 504,944 December 31, 2014 Construction Commercial Real Estate One to four family Multi-family Commercial Consumer and Other Unallocated Total Allowance for loan losses: (In Thousands) Ending balance: individually evaluated for impairment $ 376 $ 158 $ 36 $ - $ 203 $ 12 $ - $ 785 Ending balance: collectively evaluated for impairment $ 954 $ 1,834 $ 864 $ 127 $ 1,751 $ 173 $ 101 $ 5,804 Loans: Ending balance: individually evaluated for impairment $ 2,893 $ 460 $ 847 $ - $ 1,027 $ 801 $ - $ 6,028 Ending balance: collectively evaluated for impairment $ 33,892 $ 215,145 $ 97,054 $ 33,786 $ 91,087 $ 16,445 $ - $ 487,409 |
| Impaired Financing Receivables [Table Text Block] | June 30, 2015 December 31, 2014 Recorded Balance Unpaid Principal Balance Specific Allowance Recorded Balance Unpaid Principal Balance Specific Allowance (In Thousands) Loans without a specific valuation allowance Real estate - residential mortgage: One to four family units $ 746 $ 746 $ - $ 632 $ 632 $ - Multi-family - - - - - - Real estate - construction 74 74 - 74 74 - Real estate - commercial - - - - - - Commercial loans 326 326 - 341 341 - Consumer and other loans 2,265 2,265 - - - - Loans with a specific valuation allowance Real estate - residential mortgage: One to four family units $ - $ - $ - $ 279 $ 279 $ 36 Multi-family - - - - - - Real estate - construction 2,610 3,865 375 2,819 4,074 376 Real estate - commercial - - - 460 460 158 Commercial loans 613 916 313 685 988 203 Consumer and other loans 183 183 21 91 91 12 Total Real estate - residential mortgage: One to four family units $ 746 $ 746 $ - $ 911 $ 911 $ 36 Multi-family - - - - - - Real estate - construction 2,684 3,939 375 2,893 4,148 376 Real estate - commercial - - - 460 460 158 Commercial loans 939 1,242 313 1,026 1,329 203 Consumer and other loans 2,448 2,448 21 91 91 12 Total $ 6,817 $ 8,375 $ 709 $ 5,381 $ 6,939 $ 785 For the Three Months Ended For the Three Months Ended June 30, 2015 June 30, 2014 Average Investment in Impaired Loans Interest Income Recognized Average Investment in Impaired Loans Interest Income Recognized (In Thousands) Loans without a specific valuation allowance Real estate - residential mortgage: One to four family units $ 749 $ 1 $ 823 $ - Multi-family - - - - Real estate - construction 74 - 94 - Real estate - commercial - - 264 - Commercial loans 327 - 3,486 98 Consumer and other loans 16 - - - Loans with a specific valuation allowance Real estate - residential mortgage: One to four family units $ 361 $ - $ 325 $ - Multi-family - - - - Real estate - construction 2,610 - 3,532 - Real estate - commercial - - 574 - Commercial loans 620 - 699 - Consumer and other loans 127 - 272 - Total Real estate - residential mortgage: One to four family units $ 1,110 $ 1 $ 1,148 $ - Multi-family - - - - Real estate - construction 2,684 - 3,626 - Real estate - commercial - - 838 - Commercial loans 947 - 4,185 98 Consumer and other loans 143 - 272 - Total $ 4,884 $ 1 $ 10,069 $ 98 For the Six Months Ended For the Six Months Ended June 30, 2015 June 30, 2014 Average Investment in Impaired Loans Interest Income Recognized Average Investment in Impaired Loans Interest Income Recognized (In Thousands) Loans without a specific valuation allowance Real estate - residential mortgage: One to four family units $ 729 $ 2 $ 752 $ 1 Multi-family - - - - Real estate - construction 74 - 95 - Real estate - commercial - - 408 - Commercial loans 332 - 3,088 98 Consumer and other loans 13 - - - Loans with a specific valuation allowance Real estate - residential mortgage: One to four family units $ 456 $ - $ 329 $ - Multi-family - - - - Real estate - construction 2,680 - 3,883 - Real estate - commercial - - 412 - Commercial loans 621 - 1,897 - Consumer and other loans 139 - 375 - Total Real estate - residential mortgage: One to four family units $ 1,185 $ 2 $ 1,081 $ 1 Multi-family - - - - Real estate - construction 2,754 - 3,978 - Real estate - commercial - - 820 - Commercial loans 953 - 4,985 98 Consumer and other loans 152 - 375 - Total $ 5,044 $ 2 $ 11,239 $ 99 |
| Troubled Debt Restructurings on Financing Receivables [Table Text Block] | June 30, December 31, 2015 2014 Real estate - residential mortgage: One to four family units $ 220,087 $ 505,047 Multi-family - - Real estate - construction 2,683,792 2,892,772 Real estate - commercial - 459,823 Commercial loans 719,108 799,572 Consumer and other loans - - Total $ 3,622,987 $ 4,657,214 |
| Financing Receivable Credit Quality Indicators [Table Text Block] | June 30, 2015 Construction Commercial Real Estate One to four family Multi-family Commercial Consumer and Other Total (In Thousands) Rating: Pass $ 25,735 $ 218,931 $ 88,399 $ 39,414 $ 79,300 $ 21,491 $ 473,270 Special Mention 6,949 3,900 5,225 579 3,595 - 20,248 Substandard 2,684 5,965 2,279 - 6,209 332 17,469 Doubtful - - - - 604 - 604 Total $ 35,368 $ 228,796 $ 95,903 $ 39,993 $ 89,708 $ 21,823 $ 511,591 December 31, 2014 Construction Commercial Real Estate One to four family Multi-family Commercial Consumer and Other Total (In Thousands) Rating: Pass $ 27,370 $ 207,311 $ 94,129 $ 33,786 $ 78,197 $ 17,015 $ 457,808 Special Mention 6,522 5,076 2,501 - 10,273 - 24,372 Substandard 2,893 2,758 1,271 - 3,644 231 10,797 Doubtful - 460 - - - - 460 Total $ 36,785 $ 215,605 $ 97,901 $ 33,786 $ 92,114 $ 17,246 $ 493,437 |
Note 5 - Benefit Plans (Tables)
| Note 5 - Benefit Plans (Tables) | 6 Months Ended |
| Jun. 30, 2015 | |
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
| Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Number of shares Incentive Stock Option Non-Incentive Stock Option Weighted Average Exercise Price Balance outstanding as of January 1, 2015 140,300 82,500 $ 18.23 Granted - - - Exercised (1,300 ) (20,000 ) 5.23 Forfeited (18,000 ) - 23.33 Balance outstanding as of June 30, 2015 121,000 62,500 19.24 Options exercisable as of June 30, 2015 121,000 62,500 19.24 |
| Nonvested Restricted Stock Shares Activity [Table Text Block] | Number of Shares Weighted Average Grant-Date Fair Value Balance of shares non-vested as of January 1, 2015 30,503 $ 10.26 Granted 28,451 14.78 Vested (15,083 ) 11.64 Forfeited - - Balance of shares non-vested as of June 30, 2015 43,871 12.72 |
Note 6 - Income Per Common Sh20
| Note 6 - Income Per Common Share (Tables) | 6 Months Ended |
| Jun. 30, 2015 | |
| Earnings Per Share [Abstract] | |
| Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For three months ended June 30, 2015 For six months ended June 30, 2015 Income Available to Common Shareholders Average Common Shares Outstanding Per Common Share Income Available to Common Shareholders Average Common Shares Outstanding Per Common Share Basic Income Per Common Share $ 1,537,949 4,334,288 $ 0.35 $ 2,867,493 4,324,811 $ 0.66 Effect of Dilutive Securities 54,038 56,405 Diluted Income Per Common Share $ 1,537,949 4,388,326 $ 0.35 $ 2,867,493 4,381,216 $ 0.65 For three months ended June 30, 2014 For six months ended June 30, 2014 Income Available to Common Shareholders Average Common Shares Outstanding Per Common Share Income Available to Common Shareholders Average Common Shares Outstanding Per Common Share Basic Income Per Common Share $ 1,227,683 4,265,050 $ 0.29 $ 2,282,899 3,718,791 $ 0.61 Effect of Dilutive Securities 72,430 72,988 Diluted Income Per Common Share $ 1,227,683 4,337,480 $ 0.28 $ 2,282,899 3,791,779 $ 0.60 |
Note 8 - Disclosures about Fa21
| Note 8 - Disclosures about Fair Value of Assets and Liabilities (Tables) | 6 Months Ended |
| Jun. 30, 2015 | |
| Fair Value Disclosures [Abstract] | |
| Fair Value, Assets Measured on Recurring Basis [Table Text Block] | June 30, 2015 Financial assets: Level 1 inputs Level 2 inputs Level 3 inputs Total fair value Equity securities $ 111 $ - $ - $ 111 Debt securities: U.S. government agencies - 8,379 - 8,379 Municipals - 15,818 - 15,818 Corporates Government sponsored mortgage-backed - 3,899 - 3,899 securities and SBA loan pools - 55,202 - 55,202 Available-for-sale securities $ 111 $ 83,298 $ - $ 83,409 December 31, 2014 Financial assets: Level 1 inputs Level 2 inputs Level 3 inputs Total fair value Equity securities $ 105 $ - $ - $ 105 Debt securities: U.S. government agencies - 10,257 - 10,257 Municipals - 15,590 - 15,590 Government sponsored mortgage-backed securities and SBA loan pools - 60,516 - 60,516 Available-for-sale securities $ 105 $ 86,363 $ - $ 86,468 |
| Fair Value Measurements, Nonrecurring [Table Text Block] | Impaired loans: Level 1 inputs Level 2 inputs Level 3 inputs Total fair value June 30, 2015 $ - $ - $ 3,719 $ 3,719 December 31, 2014 $ - $ - $ 4,076 $ 4,076 Foreclosed assets held for sale: Level 1 inputs Level 2 inputs Level 3 inputs Total fair value June 30, 2015 $ - $ - $ 190 $ 190 December 31, 2014 $ - $ - $ 354 $ 354 |
| Fair Value Inputs, Assets, Quantitative Information [Table Text Block] | Fair Value June 30, 2015 Valuation Technique Unobservable Input Range (Weighted Average) Impaired loans (collateral dependent) $ 3,403 Market Comparable Discount to reflect realizable value 0%-14% (10%) Impaired loans $ 316 Discounted cash flow Discount rate 0%-51% (50%) Foreclosed assets held for sale $ 190 Market Comparable Discount to reflect realizable value 0% |
| Fair Value, by Balance Sheet Grouping [Table Text Block] | June 30, 2015 Carrying Amount Fair Value Hierarchy Level Financial assets: Cash and cash equivalents $ 21,417,331 $ 21,417,331 1 Held-to-maturity securities 51,341 52,720 2 Federal Home Loan Bank stock 2,837,500 2,837,500 2 Mortgage loans held for sale 1,618,290 1,618,290 2 Loans, net 504,632,124 504,621,172 3 Interest receivable 2,085,322 2,085,322 2 Financial liabilities: Deposits 519,547,082 516,151,059 2 Federal Home Loan Bank advances 52,100,000 53,565,166 2 Subordinated debentures 15,465,000 15,465,000 3 Interest payable 195,937 195,937 2 Unrecognized financial instruments (net of contractual value): Commitments to extend credit - - - Unused lines of credit - - - December 31, 2014 Carrying Amount Fair Value Hierarchy Level Financial assets: Cash and cash equivalents $ 12,493,890 $ 12,493,890 1 Held-to-maturity securities 60,993 62,619 2 Federal Home Loan Bank stock 3,156,900 3,156,900 2 Mortgage loans held for sale 1,214,632 1,214,632 2 Loans, net 486,586,636 487,244,753 3 Interest receivable 2,030,058 2,030,058 2 Financial liabilities: Deposits 479,818,282 476,519,750 2 Federal Home Loan Bank advances 60,350,000 61,615,252 2 Securities sold under agreements to repurchase 10,000,000 10,371,866 2 Subordinated debentures 15,465,000 15,465,000 3 Interest payable 242,145 242,145 2 Unrecognized financial instruments (net of contractual value): Commitments to extend credit - - - Unused lines of credit - - - |
Note 3 - Securities (Details)
| Note 3 - Securities (Details) - USD ($) | 6 Months Ended | ||
| Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
| Investments, Debt and Equity Securities [Abstract] | |||
| Available-for-sale Securities Pledged as Collateral, Book Value | $ 60,804,064 | $ 53,355,716 | |
| Available-for-sale Securities Pledged as Collateral | 59,966,322 | 52,907,065 | |
| Available-for-sale Securities, Gross Realized Gains | 155,313 | $ 10,691 | |
| Available-for-sale Securities, Gross Realized Gain (Loss), Tax Effect | 57,466 | $ 3,956 | |
| Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 64,533,448 | $ 60,733,191 | |
| Percentage of Securities in Continuous Unrealized Loss Position to Total Investment Portfolio | 77.00% | 70.00% | |
Note 3 - Securities (Details) -
| Note 3 - Securities (Details) - Available-for-sale Securities - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
| Note 3 - Securities (Details) - Available-for-sale Securities [Line Items] | ||
| Available-for-sale securities, amortized cost | $ 84,519,500 | $ 87,179,764 |
| Available-for-sale securities, gross unrealized (losses) | (1,327,746) | (1,149,624) |
| Available-for-sale securities, approximate fair value | 83,408,795 | 86,467,985 |
| Available-for-sale securities, gross unrealized gains | 217,041 | 437,845 |
| Equity Securities [Member] | ||
| Note 3 - Securities (Details) - Available-for-sale Securities [Line Items] | ||
| Available-for-sale securities, amortized cost | 102,212 | 102,212 |
| Available-for-sale securities, gross unrealized (losses) | (12,012) | (13,310) |
| Available-for-sale securities, approximate fair value | 110,565 | 105,023 |
| Available-for-sale securities, gross unrealized gains | 20,365 | 16,121 |
| US Government Agencies Debt Securities [Member] | ||
| Note 3 - Securities (Details) - Available-for-sale Securities [Line Items] | ||
| Available-for-sale securities, amortized cost | 8,532,812 | 10,528,055 |
| Available-for-sale securities, gross unrealized (losses) | (153,513) | (271,282) |
| Available-for-sale securities, approximate fair value | 8,379,299 | 10,256,773 |
| US States and Political Subdivisions Debt Securities [Member] | ||
| Note 3 - Securities (Details) - Available-for-sale Securities [Line Items] | ||
| Available-for-sale securities, amortized cost | 15,919,342 | 15,474,316 |
| Available-for-sale securities, gross unrealized (losses) | (184,754) | (70,173) |
| Available-for-sale securities, approximate fair value | 15,818,471 | 15,589,890 |
| Available-for-sale securities, gross unrealized gains | 83,883 | 185,747 |
| Corporate Debt Securities [Member] | ||
| Note 3 - Securities (Details) - Available-for-sale Securities [Line Items] | ||
| Available-for-sale securities, amortized cost | 3,950,889 | |
| Available-for-sale securities, gross unrealized (losses) | (66,135) | |
| Available-for-sale securities, approximate fair value | 3,898,750 | |
| Available-for-sale securities, gross unrealized gains | 13,996 | |
| Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
| Note 3 - Securities (Details) - Available-for-sale Securities [Line Items] | ||
| Available-for-sale securities, amortized cost | 56,014,245 | 61,075,181 |
| Available-for-sale securities, gross unrealized (losses) | (911,332) | (794,859) |
| Available-for-sale securities, approximate fair value | 55,201,710 | 60,516,299 |
| Available-for-sale securities, gross unrealized gains | $ 98,797 | $ 235,977 |
Note 3 - Securities (Details)24
| Note 3 - Securities (Details) - Available-for-sale Securities by Maturity | Jun. 30, 2015USD ($) |
| Available-for-sale Securities by Maturity [Abstract] | |
| 1 year | $ 285,000 |
| 1 year | 285,382 |
| 1-5 years | 4,727,836 |
| 1-5 years | 4,702,048 |
| 6-10 years | 11,415,094 |
| 6-10 years | 11,267,064 |
| After 10 years | 11,975,113 |
| After 10 years | 11,842,026 |
| Government sponsored mortgage-backed securities and SBA loans not due on a single maturity date | 56,014,245 |
| Government sponsored mortgage-backed securities and SBA loans not due on a single maturity date | 55,201,710 |
| 84,417,288 | |
| $ 83,298,230 |
Note 3 - Securities (Details)25
| Note 3 - Securities (Details) - Held-to-maturity Securities - Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
| Debt Securities: | ||
| Held-to-maturity securities, amortized cost | $ 51,341 | $ 60,993 |
| Held-to-maturity securities, gross unrealized gains | 1,379 | 1,626 |
| Held-to-maturity securities, approximate fair value | $ 52,720 | $ 62,619 |
Note 3 - Securities (Details)26
| Note 3 - Securities (Details) - Held-to-maturity Securities by Maturity | Jun. 30, 2015USD ($) |
| Held-to-maturity Securities by Maturity [Abstract] | |
| Government sponsored mortgage-backed securities not due on a single maturity date | $ 51,341 |
| Government sponsored mortgage-backed securities not due on a single maturity date | $ 52,720 |
Note 3 - Securities (Details)27
| Note 3 - Securities (Details) - Securities in a Continuous Unrealized Loss Position - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
| Note 3 - Securities (Details) - Securities in a Continuous Unrealized Loss Position [Line Items] | ||
| Securities, continuous unrealized loss position, less than 12 months, fair value | $ 40,759,164 | $ 15,380,927 |
| Securities, continuous unrealized loss position, less than 12 months, unrealized losses | (631,247) | (77,741) |
| Securities, continuous unrealized loss position, 12 months or more, fair value | 23,774,284 | 45,352,264 |
| Securities, continuous unrealized loss position, 12 months or more, unrealized losses | (696,499) | (1,071,883) |
| Securities, continuous unrealized loss position, fair value | 64,533,448 | 60,733,191 |
| Securities, continuous unrealized loss position, unrealized losses | (1,327,746) | (1,149,624) |
| Equity Securities [Member] | ||
| Note 3 - Securities (Details) - Securities in a Continuous Unrealized Loss Position [Line Items] | ||
| Securities, continuous unrealized loss position, 12 months or more, fair value | 35,915 | 34,618 |
| Securities, continuous unrealized loss position, 12 months or more, unrealized losses | (12,012) | (13,310) |
| Securities, continuous unrealized loss position, fair value | 35,915 | 34,618 |
| Securities, continuous unrealized loss position, unrealized losses | (12,012) | (13,310) |
| US Government Agencies Debt Securities [Member] | ||
| Note 3 - Securities (Details) - Securities in a Continuous Unrealized Loss Position [Line Items] | ||
| Securities, continuous unrealized loss position, less than 12 months, fair value | 2,911,150 | |
| Securities, continuous unrealized loss position, less than 12 months, unrealized losses | (71,662) | |
| Securities, continuous unrealized loss position, 12 months or more, fair value | 5,468,149 | 10,256,773 |
| Securities, continuous unrealized loss position, 12 months or more, unrealized losses | (81,851) | (271,282) |
| Securities, continuous unrealized loss position, fair value | 8,379,299 | 10,256,773 |
| Securities, continuous unrealized loss position, unrealized losses | (153,513) | (271,282) |
| US States and Political Subdivisions Debt Securities [Member] | ||
| Note 3 - Securities (Details) - Securities in a Continuous Unrealized Loss Position [Line Items] | ||
| Securities, continuous unrealized loss position, less than 12 months, fair value | 10,042,716 | 2,677,626 |
| Securities, continuous unrealized loss position, less than 12 months, unrealized losses | (152,045) | (7,692) |
| Securities, continuous unrealized loss position, 12 months or more, fair value | 702,305 | 5,859,560 |
| Securities, continuous unrealized loss position, 12 months or more, unrealized losses | (32,709) | (62,481) |
| Securities, continuous unrealized loss position, fair value | 10,745,021 | 8,537,186 |
| Securities, continuous unrealized loss position, unrealized losses | (184,754) | (70,173) |
| Corporate Debt Securities [Member] | ||
| Note 3 - Securities (Details) - Securities in a Continuous Unrealized Loss Position [Line Items] | ||
| Securities, continuous unrealized loss position, less than 12 months, fair value | 3,008,750 | |
| Securities, continuous unrealized loss position, less than 12 months, unrealized losses | (66,135) | |
| Securities, continuous unrealized loss position, fair value | 3,008,750 | |
| Securities, continuous unrealized loss position, unrealized losses | (66,135) | |
| Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
| Note 3 - Securities (Details) - Securities in a Continuous Unrealized Loss Position [Line Items] | ||
| Securities, continuous unrealized loss position, less than 12 months, fair value | 24,796,548 | 12,703,301 |
| Securities, continuous unrealized loss position, less than 12 months, unrealized losses | (341,405) | (70,049) |
| Securities, continuous unrealized loss position, 12 months or more, fair value | 17,567,915 | 29,201,313 |
| Securities, continuous unrealized loss position, 12 months or more, unrealized losses | (569,927) | (724,810) |
| Securities, continuous unrealized loss position, fair value | 42,364,463 | 41,904,614 |
| Securities, continuous unrealized loss position, unrealized losses | $ (911,332) | $ (794,859) |
Note 4 - Loans and Allowance 28
| Note 4 - Loans and Allowance for Loan Losses (Details) | 6 Months Ended | ||
| Jun. 30, 2015USD ($) | Jun. 30, 2014 | Dec. 31, 2014USD ($) | |
| Note 4 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
| Financing Receivable, Modifications, Number of Contracts | 0 | ||
| Financing Receivable, Modifications, Subsequent Default, Number of Contracts | 0 | 0 | |
| Troubled Debt Restructurings [Member] | |||
| Note 4 - Loans and Allowance for Loan Losses (Details) [Line Items] | |||
| Allowance for Credit Losses, Change in Method of Calculating Impairment (in Dollars) | $ 687,284 | $ 773,652 | |
Note 4 - Loans and Allowance 29
| Note 4 - Loans and Allowance for Loan Losses (Details) - Loans by Category - USD ($) | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 |
| Real estate - residential mortgage: | ||||||
| Loans receivable | $ 511,590,998 | $ 493,437,064 | ||||
| Less: | ||||||
| Allowance for loan losses | (6,651,308) | $ (6,756,000) | (6,588,597) | $ (6,788,000) | $ (7,761,000) | $ (7,802,000) |
| Deferred loan fees/costs, net | (307,566) | (261,831) | ||||
| Net loans | 504,632,124 | 486,586,636 | ||||
| Residential Portfolio Segment [Member] | One-to-four Family Units [Member] | ||||||
| Real estate - residential mortgage: | ||||||
| Loans receivable | 95,902,509 | 97,900,814 | ||||
| Less: | ||||||
| Allowance for loan losses | (805,000) | (884,000) | (900,000) | (1,014,000) | (962,000) | (997,000) |
| Residential Portfolio Segment [Member] | Multi-family Units [Member] | ||||||
| Real estate - residential mortgage: | ||||||
| Loans receivable | 39,993,133 | 33,785,959 | ||||
| Less: | ||||||
| Allowance for loan losses | (151,000) | (133,000) | (127,000) | (146,000) | (147,000) | (209,000) |
| Residential Portfolio Segment [Member] | Construction Loans [Member] | ||||||
| Real estate - residential mortgage: | ||||||
| Loans receivable | 35,368,786 | 36,784,584 | ||||
| Less: | ||||||
| Allowance for loan losses | (1,346,000) | (1,361,000) | (1,330,000) | (1,879,000) | (2,008,000) | (2,387,000) |
| Commercial Real Estate Portfolio Segment [Member] | ||||||
| Real estate - residential mortgage: | ||||||
| Loans receivable | 228,795,902 | 215,605,054 | ||||
| Commercial Portfolio Segment [Member] | ||||||
| Real estate - residential mortgage: | ||||||
| Loans receivable | 89,707,877 | 92,114,216 | ||||
| Less: | ||||||
| Allowance for loan losses | (1,893,000) | (1,804,000) | (1,954,000) | (1,244,000) | (1,799,000) | (1,519,000) |
| Consumer Portfolio Segment [Member] | Other Loans [Member] | ||||||
| Real estate - residential mortgage: | ||||||
| Loans receivable | 21,822,792 | 17,246,437 | ||||
| Less: | ||||||
| Allowance for loan losses | $ (232,000) | $ (221,000) | $ (185,000) | $ (221,000) | $ (228,000) | $ (272,000) |
Note 4 - Loans and Allowance 30
| Note 4 - Loans and Allowance for Loan Losses (Details) - Loans by Aging - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
| Real estate - residential mortgage: | ||
| Loans receivable, past due | $ 1,932,000 | $ 1,105,000 |
| Loans receivable, current | 509,659,000 | 492,332,000 |
| Loans receivable | 511,590,998 | 493,437,064 |
| Financing Receivables, 30 to 59 Days Past Due [Member] | ||
| Real estate - residential mortgage: | ||
| Loans receivable, past due | 558,000 | 136,000 |
| Financing Receivables, 60 to 89 Days Past Due [Member] | ||
| Real estate - residential mortgage: | ||
| Loans receivable, past due | 728,000 | 463,000 |
| Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
| Real estate - residential mortgage: | ||
| Loans receivable, past due | 646,000 | 506,000 |
| Residential Portfolio Segment [Member] | One-to-four Family Units [Member] | ||
| Real estate - residential mortgage: | ||
| Loans receivable, past due | 940,000 | 820,000 |
| Loans receivable, current | 94,963,000 | 97,081,000 |
| Loans receivable | 95,902,509 | 97,900,814 |
| Residential Portfolio Segment [Member] | One-to-four Family Units [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
| Real estate - residential mortgage: | ||
| Loans receivable, past due | 432,000 | 113,000 |
| Residential Portfolio Segment [Member] | One-to-four Family Units [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
| Real estate - residential mortgage: | ||
| Loans receivable, past due | 111,000 | 428,000 |
| Residential Portfolio Segment [Member] | One-to-four Family Units [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
| Real estate - residential mortgage: | ||
| Loans receivable, past due | 397,000 | 279,000 |
| Residential Portfolio Segment [Member] | Multi-family Units [Member] | ||
| Real estate - residential mortgage: | ||
| Loans receivable, current | 39,993,000 | 33,786,000 |
| Loans receivable | 39,993,133 | 33,785,959 |
| Residential Portfolio Segment [Member] | Construction Loans [Member] | ||
| Real estate - residential mortgage: | ||
| Loans receivable, current | 35,368,000 | 36,785,000 |
| Loans receivable | 35,368,786 | 36,784,584 |
| Commercial Real Estate Portfolio Segment [Member] | ||
| Real estate - residential mortgage: | ||
| Loans receivable, current | 228,796,000 | 215,605,000 |
| Loans receivable | 228,795,902 | 215,605,054 |
| Commercial Portfolio Segment [Member] | ||
| Real estate - residential mortgage: | ||
| Loans receivable, past due | 957,000 | 227,000 |
| Loans receivable, current | 88,751,000 | 91,887,000 |
| Loans receivable | 89,707,877 | 92,114,216 |
| Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
| Real estate - residential mortgage: | ||
| Loans receivable, past due | 125,000 | |
| Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
| Real estate - residential mortgage: | ||
| Loans receivable, past due | 612,000 | |
| Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
| Real estate - residential mortgage: | ||
| Loans receivable, past due | 220,000 | 227,000 |
| Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
| Real estate - residential mortgage: | ||
| Loans receivable, past due | 35,000 | 58,000 |
| Loans receivable, current | 21,788,000 | 17,188,000 |
| Loans receivable | 21,822,792 | 17,246,437 |
| Consumer Portfolio Segment [Member] | Other Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | ||
| Real estate - residential mortgage: | ||
| Loans receivable, past due | 1,000 | 23,000 |
| Consumer Portfolio Segment [Member] | Other Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | ||
| Real estate - residential mortgage: | ||
| Loans receivable, past due | 5,000 | $ 35,000 |
| Consumer Portfolio Segment [Member] | Other Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | ||
| Real estate - residential mortgage: | ||
| Loans receivable, past due | $ 29,000 |
Note 4 - Loans and Allowance 31
| Note 4 - Loans and Allowance for Loan Losses (Details) - Nonaccruing Loans - USD ($) | Dec. 31, 2014 | Jun. 30, 2014 |
| Real estate - residential mortgage: | ||
| Nonaccruing loans | $ 5,290,607 | $ 4,397,731 |
| Residential Portfolio Segment [Member] | One-to-four Family Units [Member] | ||
| Real estate - residential mortgage: | ||
| Nonaccruing loans | 911,240 | 745,789 |
| Residential Portfolio Segment [Member] | Construction Loans [Member] | ||
| Real estate - residential mortgage: | ||
| Nonaccruing loans | 2,892,772 | 2,683,792 |
| Commercial Real Estate Portfolio Segment [Member] | ||
| Real estate - residential mortgage: | ||
| Nonaccruing loans | 459,823 | |
| Commercial Portfolio Segment [Member] | ||
| Real estate - residential mortgage: | ||
| Nonaccruing loans | $ 1,026,772 | 938,908 |
| Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
| Real estate - residential mortgage: | ||
| Nonaccruing loans | $ 29,242 |
Note 4 - Loans and Allowance 32
| Note 4 - Loans and Allowance for Loan Losses (Details) - Allowance for Loan Losses - USD ($) | 3 Months Ended | 6 Months Ended | |||
| Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
| Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
| Balance, beginning of period | $ 6,756,000 | $ 7,761,000 | $ 6,588,597 | $ 7,802,000 | |
| Balance, end of period | 6,651,308 | 6,788,000 | 6,651,308 | 6,788,000 | |
| Ending balance: individually evaluated for impairment | 709,000 | 709,000 | $ 785,000 | ||
| Ending balance: collectively evaluated for impairment | 5,942,000 | 5,942,000 | 5,804,000 | ||
| Loans: | |||||
| Loans ending balance: individually evaluated for impairment | 6,647,000 | 6,647,000 | 6,028,000 | ||
| Loans ending balance: collectively evaluated for impairment | 504,944,000 | 504,944,000 | 487,409,000 | ||
| Provision charged to expense | 325,000 | 150,000 | 525,000 | ||
| Losses charged off | (114,000) | (1,337,000) | (132,000) | (1,606,000) | |
| Recoveries | 9,000 | 39,000 | 44,000 | 67,000 | |
| Residential Portfolio Segment [Member] | Construction Loans [Member] | |||||
| Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
| Balance, beginning of period | 1,361,000 | 2,008,000 | 1,330,000 | 2,387,000 | |
| Balance, end of period | 1,346,000 | 1,879,000 | 1,346,000 | 1,879,000 | |
| Ending balance: individually evaluated for impairment | 375,000 | 375,000 | 376,000 | ||
| Ending balance: collectively evaluated for impairment | 971,000 | 971,000 | 954,000 | ||
| Loans: | |||||
| Loans ending balance: individually evaluated for impairment | 2,684,000 | 2,684,000 | 2,893,000 | ||
| Loans ending balance: collectively evaluated for impairment | 32,684,000 | 32,684,000 | 33,892,000 | ||
| Provision charged to expense | (16,000) | 76,000 | 8,000 | (304,000) | |
| Losses charged off | 0 | (207,000) | (207,000) | ||
| Recoveries | 1,000 | 2,000 | 8,000 | 3,000 | |
| Residential Portfolio Segment [Member] | One-to-four Family Units [Member] | |||||
| Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
| Balance, beginning of period | 884,000 | 962,000 | 900,000 | 997,000 | |
| Balance, end of period | 805,000 | 1,014,000 | 805,000 | 1,014,000 | |
| Ending balance: individually evaluated for impairment | 36,000 | ||||
| Ending balance: collectively evaluated for impairment | 805,000 | 805,000 | 864,000 | ||
| Loans: | |||||
| Loans ending balance: individually evaluated for impairment | 745,000 | 745,000 | 847,000 | ||
| Loans ending balance: collectively evaluated for impairment | 95,158,000 | 95,158,000 | 97,054,000 | ||
| Provision charged to expense | 18,000 | 65,000 | (6,000) | 114,000 | |
| Losses charged off | (99,000) | (14,000) | (99,000) | (100,000) | |
| Recoveries | 2,000 | 1,000 | 10,000 | 3,000 | |
| Residential Portfolio Segment [Member] | Multi-family Units [Member] | |||||
| Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
| Balance, beginning of period | 133,000 | 147,000 | 127,000 | 209,000 | |
| Balance, end of period | 151,000 | 146,000 | 151,000 | 146,000 | |
| Ending balance: individually evaluated for impairment | 0 | 0 | 0 | ||
| Ending balance: collectively evaluated for impairment | 151,000 | 151,000 | 127,000 | ||
| Loans: | |||||
| Loans ending balance: individually evaluated for impairment | 0 | 0 | 0 | ||
| Loans ending balance: collectively evaluated for impairment | 39,993,000 | 39,993,000 | 33,786,000 | ||
| Provision charged to expense | 18,000 | (1,000) | 24,000 | (63,000) | |
| Losses charged off | 0 | ||||
| Recoveries | 0 | 0 | |||
| Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member] | |||||
| Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
| Balance, beginning of period | 1,986,000 | 2,344,000 | 1,992,000 | 2,059,000 | |
| Balance, end of period | 1,945,000 | 2,284,000 | 1,945,000 | 2,284,000 | |
| Ending balance: individually evaluated for impairment | 0 | 0 | 158,000 | ||
| Ending balance: collectively evaluated for impairment | 1,945,000 | 1,945,000 | 1,834,000 | ||
| Loans: | |||||
| Loans ending balance: individually evaluated for impairment | 0 | 0 | 460,000 | ||
| Loans ending balance: collectively evaluated for impairment | 228,796,000 | 228,796,000 | 215,145,000 | ||
| Provision charged to expense | (41,000) | (51,000) | (47,000) | 234,000 | |
| Losses charged off | 0 | (9,000) | (9,000) | ||
| Recoveries | 0 | 0 | |||
| Commercial Portfolio Segment [Member] | |||||
| Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
| Balance, beginning of period | 1,804,000 | 1,799,000 | 1,954,000 | 1,519,000 | |
| Balance, end of period | 1,893,000 | 1,244,000 | 1,893,000 | 1,244,000 | |
| Ending balance: individually evaluated for impairment | 313,000 | 313,000 | 203,000 | ||
| Ending balance: collectively evaluated for impairment | 1,580,000 | 1,580,000 | 1,751,000 | ||
| Loans: | |||||
| Loans ending balance: individually evaluated for impairment | 939,000 | 939,000 | 1,027,000 | ||
| Loans ending balance: collectively evaluated for impairment | 88,769,000 | 88,769,000 | 91,087,000 | ||
| Provision charged to expense | 87,000 | 477,000 | (64,000) | 914,000 | |
| Losses charged off | 0 | (1,058,000) | (1,222,000) | ||
| Recoveries | 2,000 | 26,000 | 3,000 | 33,000 | |
| Consumer Portfolio Segment [Member] | Other Loans [Member] | |||||
| Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
| Balance, beginning of period | 221,000 | 228,000 | 185,000 | 272,000 | |
| Balance, end of period | 232,000 | 221,000 | 232,000 | 221,000 | |
| Ending balance: individually evaluated for impairment | 21,000 | 21,000 | 12,000 | ||
| Ending balance: collectively evaluated for impairment | 211,000 | 211,000 | 173,000 | ||
| Loans: | |||||
| Loans ending balance: individually evaluated for impairment | 2,279,000 | 2,279,000 | 801,000 | ||
| Loans ending balance: collectively evaluated for impairment | 19,544,000 | 19,544,000 | 16,445,000 | ||
| Provision charged to expense | 22,000 | 32,000 | 57,000 | (11,000) | |
| Losses charged off | (15,000) | (49,000) | (33,000) | (68,000) | |
| Recoveries | 4,000 | 10,000 | 23,000 | 28,000 | |
| Unallocated [Member] | |||||
| Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
| Balance, beginning of period | 367,000 | 273,000 | 101,000 | 359,000 | |
| Balance, end of period | 279,000 | 279,000 | |||
| Ending balance: individually evaluated for impairment | 0 | 0 | 0 | ||
| Ending balance: collectively evaluated for impairment | 279,000 | 279,000 | 101,000 | ||
| Loans: | |||||
| Loans ending balance: individually evaluated for impairment | 0 | 0 | 0 | ||
| Loans ending balance: collectively evaluated for impairment | 0 | 0 | $ 0 | ||
| Provision charged to expense | (88,000) | (273,000) | $ 178,000 | $ (359,000) | |
| Losses charged off | 0 | ||||
| Recoveries | $ 0 | $ 0 | |||
Note 4 - Loans and Allowance 33
| Note 4 - Loans and Allowance for Loan Losses (Details) - Impaired Loans - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
| Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | |
| Loans with a specific valuation allowance | |||||
| Valuation allowance | $ 709 | $ 709 | $ 785 | ||
| Total | |||||
| Loans recorded balance | 6,817 | 6,817 | 5,381 | ||
| Loans unpaid principal | 8,375 | 8,375 | 6,939 | ||
| Valuation allowance | 709 | 709 | 785 | ||
| Loans average investment in impaired loans | 4,884 | $ 10,069 | 5,044 | $ 11,239 | |
| Loans interest income recognized | 1 | 98 | 2 | 99 | |
| Residential Portfolio Segment [Member] | One-to-four Family Units [Member] | |||||
| Loans without a specific valuation allowance | |||||
| Loans without a specific valuation allowance, recorded balance | 746 | 746 | 632 | ||
| Loans without a specific valuation allowance, unpaid principal | 746 | 746 | 632 | ||
| Loans without a specific valuation allowance, average investment in impaired loans | 749 | 823 | 729 | 752 | |
| Loans without a specific valuation allowance, interest income recognized | 1 | 2 | 1 | ||
| Loans with a specific valuation allowance | |||||
| Loans with a specific valuation allowance, recorded balance | 279 | ||||
| Loans with a specific valuation allowance, unpaid principal | 279 | ||||
| Valuation allowance | 36 | ||||
| Loans with a specific valuation allowance, average investment in impaired loans | 361 | 325 | 456 | 329 | |
| Total | |||||
| Loans recorded balance | 746 | 746 | 911 | ||
| Loans unpaid principal | 746 | 746 | 911 | ||
| Valuation allowance | 36 | ||||
| Loans average investment in impaired loans | 1,110 | 1,148 | 1,185 | 1,081 | |
| Loans interest income recognized | 1 | 2 | 1 | ||
| Residential Portfolio Segment [Member] | Construction Loans [Member] | |||||
| Loans without a specific valuation allowance | |||||
| Loans without a specific valuation allowance, recorded balance | 74 | 74 | 74 | ||
| Loans without a specific valuation allowance, unpaid principal | 74 | 74 | 74 | ||
| Loans without a specific valuation allowance, average investment in impaired loans | 74 | 94 | 74 | 95 | |
| Loans with a specific valuation allowance | |||||
| Loans with a specific valuation allowance, recorded balance | 2,610 | 2,610 | 2,819 | ||
| Loans with a specific valuation allowance, unpaid principal | 3,865 | 3,865 | 4,074 | ||
| Valuation allowance | 375 | 375 | 376 | ||
| Loans with a specific valuation allowance, average investment in impaired loans | 2,610 | 3,532 | 2,680 | 3,883 | |
| Total | |||||
| Loans recorded balance | 2,684 | 2,684 | 2,893 | ||
| Loans unpaid principal | 3,939 | 3,939 | 4,148 | ||
| Valuation allowance | 375 | 375 | 376 | ||
| Loans average investment in impaired loans | 2,684 | 3,626 | 2,754 | 3,978 | |
| Commercial Real Estate Portfolio Segment [Member] | |||||
| Loans without a specific valuation allowance | |||||
| Loans without a specific valuation allowance, average investment in impaired loans | 264 | 408 | |||
| Loans with a specific valuation allowance | |||||
| Loans with a specific valuation allowance, recorded balance | 460 | ||||
| Loans with a specific valuation allowance, unpaid principal | 460 | ||||
| Valuation allowance | 158 | ||||
| Loans with a specific valuation allowance, average investment in impaired loans | 574 | 412 | |||
| Total | |||||
| Loans recorded balance | 460 | ||||
| Loans unpaid principal | 460 | ||||
| Valuation allowance | 158 | ||||
| Loans average investment in impaired loans | 838 | 820 | |||
| Commercial Portfolio Segment [Member] | |||||
| Loans without a specific valuation allowance | |||||
| Loans without a specific valuation allowance, recorded balance | 326 | 326 | 341 | ||
| Loans without a specific valuation allowance, unpaid principal | 326 | 326 | 341 | ||
| Loans without a specific valuation allowance, average investment in impaired loans | 327 | 3,486 | 332 | 3,088 | |
| Loans without a specific valuation allowance, interest income recognized | 98 | 98 | |||
| Loans with a specific valuation allowance | |||||
| Loans with a specific valuation allowance, recorded balance | 613 | 613 | 685 | ||
| Loans with a specific valuation allowance, unpaid principal | 916 | 916 | 988 | ||
| Valuation allowance | 313 | 313 | 203 | ||
| Loans with a specific valuation allowance, average investment in impaired loans | 620 | 699 | 621 | 1,897 | |
| Total | |||||
| Loans recorded balance | 939 | 939 | 1,026 | ||
| Loans unpaid principal | 1,242 | 1,242 | 1,329 | ||
| Valuation allowance | 313 | 313 | 203 | ||
| Loans average investment in impaired loans | 947 | 4,185 | 953 | 4,985 | |
| Loans interest income recognized | 98 | 98 | |||
| Consumer Portfolio Segment [Member] | Other Loans [Member] | |||||
| Loans without a specific valuation allowance | |||||
| Loans without a specific valuation allowance, recorded balance | 2,265 | 2,265 | |||
| Loans without a specific valuation allowance, unpaid principal | 2,265 | 2,265 | |||
| Loans without a specific valuation allowance, average investment in impaired loans | 16 | 13 | |||
| Loans with a specific valuation allowance | |||||
| Loans with a specific valuation allowance, recorded balance | 183 | 183 | 91 | ||
| Loans with a specific valuation allowance, unpaid principal | 183 | 183 | 91 | ||
| Valuation allowance | 21 | 21 | 12 | ||
| Loans with a specific valuation allowance, average investment in impaired loans | 127 | 272 | 139 | 375 | |
| Total | |||||
| Loans recorded balance | 2,448 | 2,448 | 91 | ||
| Loans unpaid principal | 2,448 | 2,448 | 91 | ||
| Valuation allowance | 21 | 21 | $ 12 | ||
| Loans average investment in impaired loans | $ 143 | $ 272 | $ 152 | $ 375 | |
Note 4 - Loans and Allowance 34
| Note 4 - Loans and Allowance for Loan Losses (Details) - Troubled Debt Restructurings - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
| Real estate - residential mortgage: | ||
| Trobled debt restructuring | $ 3,622,987 | $ 4,657,214 |
| Residential Portfolio Segment [Member] | One-to-four Family Units [Member] | ||
| Real estate - residential mortgage: | ||
| Trobled debt restructuring | 220,087 | 505,047 |
| Residential Portfolio Segment [Member] | Construction Loans [Member] | ||
| Real estate - residential mortgage: | ||
| Trobled debt restructuring | 2,683,792 | 2,892,772 |
| Commercial Real Estate Portfolio Segment [Member] | ||
| Real estate - residential mortgage: | ||
| Trobled debt restructuring | 459,823 | |
| Commercial Portfolio Segment [Member] | ||
| Real estate - residential mortgage: | ||
| Trobled debt restructuring | $ 719,108 | $ 799,572 |
Note 4 - Loans and Allowance 35
| Note 4 - Loans and Allowance for Loan Losses (Details) - Loan Portfolio by Credit Quality - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
| Rating: | ||
| Loans receivable | $ 511,590,998 | $ 493,437,064 |
| Pass [Member] | ||
| Rating: | ||
| Loans receivable | 473,270,000 | 457,808,000 |
| Special Mention [Member] | ||
| Rating: | ||
| Loans receivable | 20,248,000 | 24,372,000 |
| Substandard [Member] | ||
| Rating: | ||
| Loans receivable | 17,469,000 | 10,797,000 |
| Doubtful [Member] | ||
| Rating: | ||
| Loans receivable | 604,000 | 460,000 |
| Residential Portfolio Segment [Member] | Construction Loans [Member] | ||
| Rating: | ||
| Loans receivable | 35,368,786 | 36,784,584 |
| Residential Portfolio Segment [Member] | Construction Loans [Member] | Pass [Member] | ||
| Rating: | ||
| Loans receivable | 25,735,000 | 27,370,000 |
| Residential Portfolio Segment [Member] | Construction Loans [Member] | Special Mention [Member] | ||
| Rating: | ||
| Loans receivable | 6,949,000 | 6,522,000 |
| Residential Portfolio Segment [Member] | Construction Loans [Member] | Substandard [Member] | ||
| Rating: | ||
| Loans receivable | 2,684,000 | 2,893,000 |
| Residential Portfolio Segment [Member] | One-to-four Family Units [Member] | ||
| Rating: | ||
| Loans receivable | 95,902,509 | 97,900,814 |
| Residential Portfolio Segment [Member] | One-to-four Family Units [Member] | Pass [Member] | ||
| Rating: | ||
| Loans receivable | 88,399,000 | 94,129,000 |
| Residential Portfolio Segment [Member] | One-to-four Family Units [Member] | Special Mention [Member] | ||
| Rating: | ||
| Loans receivable | 5,225,000 | 2,501,000 |
| Residential Portfolio Segment [Member] | One-to-four Family Units [Member] | Substandard [Member] | ||
| Rating: | ||
| Loans receivable | 2,279,000 | 1,271,000 |
| Residential Portfolio Segment [Member] | Multi-family Units [Member] | ||
| Rating: | ||
| Loans receivable | 39,993,133 | 33,785,959 |
| Residential Portfolio Segment [Member] | Multi-family Units [Member] | Pass [Member] | ||
| Rating: | ||
| Loans receivable | 39,414,000 | 33,786,000 |
| Residential Portfolio Segment [Member] | Multi-family Units [Member] | Special Mention [Member] | ||
| Rating: | ||
| Loans receivable | 579,000 | |
| Commercial Real Estate Portfolio Segment [Member] | ||
| Rating: | ||
| Loans receivable | 228,795,902 | 215,605,054 |
| Commercial Real Estate Portfolio Segment [Member] | Pass [Member] | ||
| Rating: | ||
| Loans receivable | 218,931,000 | 207,311,000 |
| Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member] | ||
| Rating: | ||
| Loans receivable | 3,900,000 | 5,076,000 |
| Commercial Real Estate Portfolio Segment [Member] | Substandard [Member] | ||
| Rating: | ||
| Loans receivable | 5,965,000 | 2,758,000 |
| Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member] | ||
| Rating: | ||
| Loans receivable | 460,000 | |
| Commercial Portfolio Segment [Member] | ||
| Rating: | ||
| Loans receivable | 89,707,877 | 92,114,216 |
| Commercial Portfolio Segment [Member] | Pass [Member] | ||
| Rating: | ||
| Loans receivable | 79,300,000 | 78,197,000 |
| Commercial Portfolio Segment [Member] | Special Mention [Member] | ||
| Rating: | ||
| Loans receivable | 3,595,000 | 10,273,000 |
| Commercial Portfolio Segment [Member] | Substandard [Member] | ||
| Rating: | ||
| Loans receivable | 6,209,000 | 3,644,000 |
| Commercial Portfolio Segment [Member] | Doubtful [Member] | ||
| Rating: | ||
| Loans receivable | 604,000 | |
| Consumer Portfolio Segment [Member] | Other Loans [Member] | ||
| Rating: | ||
| Loans receivable | 21,822,792 | 17,246,437 |
| Consumer Portfolio Segment [Member] | Other Loans [Member] | Pass [Member] | ||
| Rating: | ||
| Loans receivable | 21,491,000 | 17,015,000 |
| Consumer Portfolio Segment [Member] | Other Loans [Member] | Substandard [Member] | ||
| Rating: | ||
| Loans receivable | $ 332,000 | $ 231,000 |
Note 5 - Benefit Plans (Details
| Note 5 - Benefit Plans (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||
| Feb. 28, 2015 | Feb. 28, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
| Note 5 - Benefit Plans (Details) [Line Items] | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 201,406 | $ 116,226 | ||||
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 670,810 | $ 833,326 | 670,810 | 833,326 | ||
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | 670,810 | 713,282 | 670,810 | 713,282 | ||
| Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 258,750 | |||||
| Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares) | 23,320 | |||||
| Allocated Share-based Compensation Expense | 43,580 | $ 30,918 | 208,730 | |||
| Allocated Share-based Compensation Expense, Net of Tax | $ 190,490 | |||||
| Director [Member] | ||||||
| Note 5 - Benefit Plans (Details) [Line Items] | ||||||
| Restricted Stock or Unit Expense | 77 | |||||
| Officer [Member] | ||||||
| Note 5 - Benefit Plans (Details) [Line Items] | ||||||
| Restricted Stock or Unit Expense | 85,943 | $ 51,322 | ||||
| 2010 Equity Plan [Member] | Director [Member] | ||||||
| Note 5 - Benefit Plans (Details) [Line Items] | ||||||
| Restricted Stock or Unit Expense | $ 122,476 | $ 122,538 | ||||
| Employee Stock Option [Member] | ||||||
| Note 5 - Benefit Plans (Details) [Line Items] | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value | $ 138,368 | |||||
| Restricted Stock [Member] | ||||||
| Note 5 - Benefit Plans (Details) [Line Items] | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | $ 14.78 | |||||
| Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares) | 28,451 | |||||
| Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 402,816 | $ 402,816 | ||||
| Restricted Stock [Member] | Officer [Member] | ||||||
| Note 5 - Benefit Plans (Details) [Line Items] | ||||||
| Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in Shares) | 966 | 19,204 | ||||
| Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Cliff Vesting Period | 3 years | 3 years | ||||
| Restricted Stock [Member] | 2010 Equity Plan [Member] | Director [Member] | ||||||
| Note 5 - Benefit Plans (Details) [Line Items] | ||||||
| Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures (in Shares) | 8,281 | 11,242 | ||||
| Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | $ 14.79 | $ 10.90 | ||||
Note 5 - Benefit Plans (Detai37
| Note 5 - Benefit Plans (Details) - Stock Option Activity - Jun. 30, 2015 - $ / shares | Total |
| Note 5 - Benefit Plans (Details) - Stock Option Activity [Line Items] | |
| Balance outstanding as of January 1, 2015 (in Dollars per share) | $ 18.23 |
| Balance outstanding as of June 30, 2015 (in Dollars per share) | 19.24 |
| Options exercisable as of June 30, 2015 (in Dollars per share) | 19.24 |
| Granted (in Dollars per share) | 0 |
| Exercised (in Dollars per share) | 5.23 |
| Forfeited (in Dollars per share) | $ 23.33 |
| Incentive Stock Options [Member] | |
| Note 5 - Benefit Plans (Details) - Stock Option Activity [Line Items] | |
| Balance outstanding as of January 1, 2015 | 140,300 |
| Balance outstanding as of June 30, 2015 | 121,000 |
| Options exercisable as of June 30, 2015 | 121,000 |
| Granted | 0 |
| Exercised | (1,300) |
| Forfeited | (18,000) |
| Non-Incentive Stock Options [Member] | |
| Note 5 - Benefit Plans (Details) - Stock Option Activity [Line Items] | |
| Balance outstanding as of January 1, 2015 | 82,500 |
| Balance outstanding as of June 30, 2015 | 62,500 |
| Options exercisable as of June 30, 2015 | 62,500 |
| Granted | 0 |
| Exercised | (20,000) |
Note 5 - Benefit Plans (Detai38
| Note 5 - Benefit Plans (Details) - Restricted Stock - $ / shares | 6 Months Ended | |
| Jun. 30, 2015 | Jun. 30, 2014 | |
| Note 5 - Benefit Plans (Details) - Restricted Stock [Line Items] | ||
| Granted | 23,320 | |
| Restricted Stock [Member] | ||
| Note 5 - Benefit Plans (Details) - Restricted Stock [Line Items] | ||
| Balance of shares non-vested as of January 1, 2015 | 30,503 | |
| Balance of shares non-vested as of January 1, 2015 | $ 10.26 | |
| Balance of shares non-vested as of June 30, 2015 | 43,871 | |
| Balance of shares non-vested as of June 30, 2015 | $ 12.72 | |
| Granted | 28,451 | |
| Granted | $ 14.78 | |
| Vested | (15,083) | |
| Vested | $ 11.64 | |
Note 6 - Income Per Common Sh39
| Note 6 - Income Per Common Share (Details) - shares | 3 Months Ended | 6 Months Ended | ||
| Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
| Employee Stock Option [Member] | ||||
| Note 6 - Income Per Common Share (Details) [Line Items] | ||||
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 108,500 | 136,500 | 108,500 | 136,500 |
Note 6 - Income Per Common Sh40
| Note 6 - Income Per Common Share (Details) - Income Per Share - USD ($) | 3 Months Ended | 6 Months Ended | ||
| Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
| Income Per Share [Abstract] | ||||
| Basic income per common share, income available to common shareholders (in Dollars) | $ 1,537,949 | $ 1,227,683 | $ 2,867,493 | $ 2,282,899 |
| Basic income per common share, average common shares outstanding | 4,334,288 | 4,265,050 | 4,324,811 | 3,718,791 |
| Basic income per common share, per common share (in Dollars per share) | $ 0.35 | $ 0.29 | $ 0.66 | $ 0.61 |
| Effect of dilutive securities, average common shares outstanding | 54,038 | 72,430 | 56,405 | 72,988 |
| Diluted income per common share, income available to common shareholders (in Dollars) | $ 1,537,949 | $ 1,227,683 | $ 2,867,493 | $ 2,282,899 |
| Diluted income per common share, average common shares outstanding | 4,388,326 | 4,337,480 | 4,381,216 | 3,791,779 |
| Diluted income per common share, per common share (in Dollars per share) | $ 0.35 | $ 0.28 | $ 0.65 | $ 0.60 |
Note 7 - New Accounting Prono41
| Note 7 - New Accounting Pronouncements (Details) - Jun. 30, 2014 - USD ($) | Total | Total |
| Provision for Income Taxes [Member] | ||
| Note 7 - New Accounting Pronouncements (Details) [Line Items] | ||
| Amortization Method Qualified Affordable Housing Project Investments, Amortization | $ 221,370 | $ 442,740 |
Note 8 - Disclosures about Fa42
| Note 8 - Disclosures about Fair Value of Assets and Liabilities (Details) - Fair Value of Assets Measured on Recurring Basis - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
| Note 8 - Disclosures about Fair Value of Assets and Liabilities (Details) - Fair Value of Assets Measured on Recurring Basis [Line Items] | ||
| Available-for-sale securities | $ 83,408,795 | $ 86,467,985 |
| Equity Securities [Member] | ||
| Note 8 - Disclosures about Fair Value of Assets and Liabilities (Details) - Fair Value of Assets Measured on Recurring Basis [Line Items] | ||
| Available-for-sale securities | 110,565 | 105,023 |
| US Government Agencies Debt Securities [Member] | ||
| Note 8 - Disclosures about Fair Value of Assets and Liabilities (Details) - Fair Value of Assets Measured on Recurring Basis [Line Items] | ||
| Available-for-sale securities | 8,379,299 | 10,256,773 |
| US States and Political Subdivisions Debt Securities [Member] | ||
| Note 8 - Disclosures about Fair Value of Assets and Liabilities (Details) - Fair Value of Assets Measured on Recurring Basis [Line Items] | ||
| Available-for-sale securities | 15,818,471 | 15,589,890 |
| Domestic Corporate Debt Securities [Member] | ||
| Note 8 - Disclosures about Fair Value of Assets and Liabilities (Details) - Fair Value of Assets Measured on Recurring Basis [Line Items] | ||
| Available-for-sale securities | 3,899,000 | |
| Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
| Note 8 - Disclosures about Fair Value of Assets and Liabilities (Details) - Fair Value of Assets Measured on Recurring Basis [Line Items] | ||
| Available-for-sale securities | 55,201,710 | 60,516,299 |
| Fair Value, Inputs, Level 1 [Member] | ||
| Note 8 - Disclosures about Fair Value of Assets and Liabilities (Details) - Fair Value of Assets Measured on Recurring Basis [Line Items] | ||
| Available-for-sale securities | 111,000 | 105,000 |
| Fair Value, Inputs, Level 1 [Member] | Equity Securities [Member] | ||
| Note 8 - Disclosures about Fair Value of Assets and Liabilities (Details) - Fair Value of Assets Measured on Recurring Basis [Line Items] | ||
| Available-for-sale securities | 111,000 | 105,000 |
| Fair Value, Inputs, Level 2 [Member] | ||
| Note 8 - Disclosures about Fair Value of Assets and Liabilities (Details) - Fair Value of Assets Measured on Recurring Basis [Line Items] | ||
| Available-for-sale securities | 83,298,000 | 86,363,000 |
| Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | ||
| Note 8 - Disclosures about Fair Value of Assets and Liabilities (Details) - Fair Value of Assets Measured on Recurring Basis [Line Items] | ||
| Available-for-sale securities | 8,379,000 | 10,257,000 |
| Fair Value, Inputs, Level 2 [Member] | US States and Political Subdivisions Debt Securities [Member] | ||
| Note 8 - Disclosures about Fair Value of Assets and Liabilities (Details) - Fair Value of Assets Measured on Recurring Basis [Line Items] | ||
| Available-for-sale securities | 15,818,000 | 15,590,000 |
| Fair Value, Inputs, Level 2 [Member] | Domestic Corporate Debt Securities [Member] | ||
| Note 8 - Disclosures about Fair Value of Assets and Liabilities (Details) - Fair Value of Assets Measured on Recurring Basis [Line Items] | ||
| Available-for-sale securities | 3,899,000 | |
| Fair Value, Inputs, Level 2 [Member] | Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | ||
| Note 8 - Disclosures about Fair Value of Assets and Liabilities (Details) - Fair Value of Assets Measured on Recurring Basis [Line Items] | ||
| Available-for-sale securities | $ 55,202,000 | $ 60,516,000 |
Note 8 - Disclosures about Fa43
| Note 8 - Disclosures about Fair Value of Assets and Liabilities (Details) - Fair Value of Assets Measured on Non-Recurring Basis - USD ($) $ in Thousands | Jun. 30, 2015 | Dec. 31, 2014 |
| Impaired Loans [Member] | ||
| Note 8 - Disclosures about Fair Value of Assets and Liabilities (Details) - Fair Value of Assets Measured on Non-Recurring Basis [Line Items] | ||
| Assets measured at fair value on a nonrecurring basis | $ 3,719 | $ 4,076 |
| Foreclosed Assets Held-for-sale [Member] | ||
| Note 8 - Disclosures about Fair Value of Assets and Liabilities (Details) - Fair Value of Assets Measured on Non-Recurring Basis [Line Items] | ||
| Assets measured at fair value on a nonrecurring basis | 190 | 354 |
| Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member] | ||
| Note 8 - Disclosures about Fair Value of Assets and Liabilities (Details) - Fair Value of Assets Measured on Non-Recurring Basis [Line Items] | ||
| Assets measured at fair value on a nonrecurring basis | 3,719 | 4,076 |
| Fair Value, Inputs, Level 3 [Member] | Foreclosed Assets Held-for-sale [Member] | ||
| Note 8 - Disclosures about Fair Value of Assets and Liabilities (Details) - Fair Value of Assets Measured on Non-Recurring Basis [Line Items] | ||
| Assets measured at fair value on a nonrecurring basis | $ 190 | $ 354 |
Note 8 - Disclosures about Fa44
| Note 8 - Disclosures about Fair Value of Assets and Liabilities (Details) - Fair Value Quantitative Information - Jun. 30, 2015 - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | Total |
| Market Approach Valuation Technique [Member] | Impaired Loans [Member] | |
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
| Assets, fair value (in Dollars) | $ 3,403 |
| Valuation technique | Market Comparable |
| Unobservable input | Discount to reflect realizable value |
| Market Approach Valuation Technique [Member] | Foreclosed Assets Held-for-sale [Member] | |
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
| Assets, fair value (in Dollars) | $ 190 |
| Valuation technique | Market Comparable |
| Unobservable input | Discount to reflect realizable value |
| Range | 0.00% |
| Range | (0.00%) |
| Income Approach Valuation Technique [Member] | Impaired Loans [Member] | |
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
| Assets, fair value (in Dollars) | $ 316 |
| Valuation technique | Discounted cash flow |
| Unobservable input | Discount rate |
| Minimum [Member] | Market Approach Valuation Technique [Member] | Impaired Loans [Member] | |
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
| Range | 0.00% |
| Range | (0.00%) |
| Minimum [Member] | Income Approach Valuation Technique [Member] | Impaired Loans [Member] | |
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
| Range | 0.00% |
| Range | (0.00%) |
| Maximum [Member] | Market Approach Valuation Technique [Member] | Impaired Loans [Member] | |
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
| Range | 14.00% |
| Range | (14.00%) |
| Maximum [Member] | Income Approach Valuation Technique [Member] | Impaired Loans [Member] | |
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
| Range | 51.00% |
| Range | (51.00%) |
| Weighted Average [Member] | Market Approach Valuation Technique [Member] | Impaired Loans [Member] | |
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
| Range | 10.00% |
| Range | (10.00%) |
| Weighted Average [Member] | Income Approach Valuation Technique [Member] | Impaired Loans [Member] | |
| Fair Value Inputs, Assets, Quantitative Information [Line Items] | |
| Range | 50.00% |
| Range | (50.00%) |
Note 8 - Disclosures about Fa45
| Note 8 - Disclosures about Fair Value of Assets and Liabilities (Details) - Fair Value of Financial Instruments - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
| Financial assets: | ||||
| Cash and cash equivalents | $ 21,417,331 | $ 12,493,890 | $ 20,831,026 | $ 12,303,200 |
| Held-to-maturity securities | 51,341 | 60,993 | ||
| Federal Home Loan Bank stock | 2,837,500 | 3,156,900 | ||
| Mortgage loans held for sale | 1,618,290 | 1,214,632 | ||
| Loans, net | 504,632,124 | 486,586,636 | ||
| Financial liabilities: | ||||
| Deposits | 519,547,082 | 479,818,282 | ||
| Securities sold under agreements to repurchase | 10,000,000 | |||
| Subordinated debentures | 15,465,000 | 15,465,000 | ||
| Interest payable | 195,937 | 242,145 | ||
| Interest payable, fair value | 195,937 | 242,145 | ||
| Fair Value, Inputs, Level 1 [Member] | ||||
| Financial assets: | ||||
| Cash and cash equivalents | 21,417,331 | 12,493,890 | ||
| Cash and cash equivalents, fair value | 21,417,331 | 12,493,890 | ||
| Fair Value, Inputs, Level 2 [Member] | ||||
| Financial assets: | ||||
| Held-to-maturity securities | 51,341 | 60,993 | ||
| Held-to-maturity securities, fair value | 52,720 | 62,619 | ||
| Federal Home Loan Bank stock | 2,837,500 | 3,156,900 | ||
| Federal Home Loan Bank stock, fair value | 2,837,500 | 3,156,900 | ||
| Mortgage loans held for sale | 1,618,290 | 1,214,632 | ||
| Mortgage loans held for sale, fair value | 1,618,290 | 1,214,632 | ||
| Interest receivable | 2,085,322 | 2,030,058 | ||
| Interest receivable, fair value | 2,085,322 | 2,030,058 | ||
| Financial liabilities: | ||||
| Deposits | 519,547,082 | 479,818,282 | ||
| Deposits, fair value | 516,151,059 | 476,519,750 | ||
| Federal Home Loan Bank and Federal Reserve Bank advances | 52,100,000 | 60,350,000 | ||
| Federal Home Loan Bank and Federal Reserve Bank advances, fair value | 53,565,166 | 61,615,252 | ||
| Securities sold under agreements to repurchase | 10,000,000 | |||
| Securities sold under agreements to repurchase | 10,371,866 | |||
| Interest payable | 195,937 | 242,145 | ||
| Interest payable, fair value | 195,937 | 242,145 | ||
| Fair Value, Inputs, Level 3 [Member] | ||||
| Financial assets: | ||||
| Loans, net | 504,632,124 | 486,586,636 | ||
| Loans, net, fair value | 504,621,172 | 487,244,753 | ||
| Financial liabilities: | ||||
| Subordinated debentures | 15,465,000 | 15,465,000 | ||
| Subordinated debentures, fair value | $ 15,465,000 | $ 15,465,000 |