Guaranty Federal Bancshares (GFED) 10-Q 5 Aug 16 2016 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 05, 2016
Document Information [Line Items]
Entity Registrant Name	Guaranty Federal Bancshares Inc
Entity Central Index Key	1,046,203
Trading Symbol	gfed
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		4,432,027
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
ASSETS
Cash and due from banks	$ 4,014,018	$ 3,561,272
Interest-bearing deposits in other financial institutions	5,784,762	15,213,147
Cash and cash equivalents	9,798,780	18,774,419
Available-for-sale securities	104,866,537	97,292,487
Held-to-maturity securities	33,858	43,099
Stock in Federal Home Loan Bank, at cost	3,919,000	2,837,500
Mortgage loans held for sale	1,977,683	1,902,933
Loans receivable, net of allowance for loan losses of June 30, 2016 - $6,181,151 - December 31, 2015 - $5,811,940	518,948,805	491,001,907
Loans	1,331,705	1,515,818
Investments and interest-bearing deposits	548,896	470,874
Prepaid expenses and other assets	3,576,572	3,525,032
Foreclosed assets held for sale	2,503,635	2,391,727
Premises and equipment, net	10,817,527	10,540,428
Bank owned life insurance	19,025,297	18,779,915
Deferred and receivable income taxes	2,559,715	3,758,933
	679,908,010	652,835,072
LIABILITIES
Deposits	514,414,560	517,385,695
Federal Home Loan Bank advances	78,400,000	52,100,000
Subordinated debentures	15,465,000	15,465,000
Advances from borrowers for taxes and insurance	391,722	190,853
Accrued expenses and other liabilities	1,022,098	1,074,957
Accrued interest payable	198,173	196,102
	609,891,553	586,412,607
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY
Common stock, $0.10 par value; authorized 10,000,000 shares; issued June 30, 2016 and December 31, 2015 - 6,875,503 and 6,859,003 shares, respectively	687,550	685,900
Additional paid-in capital	50,365,974	50,441,464
Retained earnings, substantially restricted	55,081,592	53,258,126
Accumulated other comprehensive income (loss)
Unrealized gain (loss) on available-for-sale securities, net of income taxes	787,510	(683,956)
	106,922,626	103,701,534
Treasury stock, at cost; June 30, 2016 and December 31, 2015 - 2,441,783 and 2,466,462 shares, respectively	(36,906,169)	(37,279,069)
	70,016,457	66,422,465
	$ 679,908,010	$ 652,835,072

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Loans receivable, allowance for loan losses	$ 6,181,151	$ 5,811,940
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, authorized (in shares)	10,000,000	10,000,000
Common stock, issued (in shares)	6,875,503	6,859,003
Treasury stock, shares (in shares)	2,441,783	2,466,462

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Interest Income
Loans	$ 5,628,133	$ 5,988,875	$ 11,330,025	$ 11,893,441
Investment securities	525,713	351,481	983,564	704,531
Other	50,468	46,154	95,770	76,175
	6,204,314	6,386,510	12,409,359	12,674,147
Interest Expense
Deposits	570,194	625,261	1,155,011	1,220,190
FHLB and Federal Reserve advancese	313,108	297,379	614,272	596,185
Subordinated debentures	143,480	133,997	282,910	266,858
Other		55,739		120,833
	1,026,782	1,112,376	2,052,193	2,204,066
Net Interest Income	5,177,532	5,274,134	10,357,166	10,470,081
Provision for loan losses	375,000		750,000	150,000
Provision for Loan Losses	4,802,532	5,274,134	9,607,166	10,320,081
Noninterest Income
Service charges	279,099	315,275	545,068	596,634
Gain on sale of investment securities	60,375	148,516	111,405	155,313
Gain on sale of mortgage loans held for sale	382,583	364,709	732,457	655,985
Gain on sale of Small Business Administration loans	82,686	344,439	152,238	344,439
Net loss on foreclosed assets	(8,797)	(6,663)	(19,505)	(17,762)
Other income	383,467	345,477	766,572	691,063
	1,179,413	1,511,753	2,288,235	2,425,672
Noninterest Expense
Salaries and employee benefits	2,705,866	2,488,220	5,256,798	4,941,312
Occupancy	433,124	463,360	877,825	936,587
FDIC deposit insurance premiums	127,864	113,578	244,714	220,338
Prepayment penalty on securities sold under agreements to repurchase		463,992		463,992
Data processing	211,535	201,342	426,665	393,823
Advertising	131,250	131,250	262,500	262,500
Other expense	699,755	690,038	1,350,368	1,375,114
	4,309,394	4,551,780	8,418,870	8,593,666
Income Before Income Taxes	1,672,551	2,234,107	3,476,531	4,152,087
Provision for Income Taxes	416,399	696,158	943,774	1,284,595
Net Income Available to Common Shareholders	$ 1,256,152	$ 1,537,949	$ 2,532,757	$ 2,867,492
Basic Income Per Common Share (in dollars per share)	$ 0.29	$ 0.35	$ 0.58	$ 0.66
Diluted Income Per Common Share (in dollars per share)	$ 0.28	$ 0.35	$ 0.57	$ 0.65

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
NET INCOME	$ 1,256,152	$ 1,537,949	$ 2,532,757	$ 2,867,493
OTHER ITEMS OF COMPREHENSIVE INCOME (LOSS):
Change in unrealized gain (loss) on investment securities available-for-sale, before income taxes	1,588,158	(1,030,923)	2,447,064	(243,613)
Less: Reclassification adjustment for realized gains on investment securities included in net income, before income taxes	(60,375)	(148,516)	(111,405)	(155,313)
Total other items of comprehensive income (loss)	1,527,783	(1,179,439)	2,335,659	(398,926)
Income tax expense (benefit) related to other items of comprehensive income	565,280	(436,393)	864,193	(147,603)
Other comprehensive income (loss)	962,503	(743,046)	1,471,466	(251,323)
TOTAL COMPREHENSIVE INCOME	$ 2,218,655	$ 794,903	$ 4,004,223	$ 2,616,170

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - 6 months ended Jun. 30, 2016 - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance at Dec. 31, 2015	$ 685,900	$ 50,441,464	$ (37,279,069)	$ 53,258,126	$ (683,956)	$ 66,422,465
Net income				2,532,757		2,532,757
Change in unrealized gain on available-for-sale securities, net of income taxes					1,471,466	1,471,466
Dividends on common stock ($0.08 per share)				(709,291)		(709,291)
Stock award plans		(159,640)	372,900			213,260
Stock options exercised	1,650	84,150				85,800
Balance at Jun. 30, 2016	$ 687,550	$ 50,365,974	$ (36,906,169)	$ 55,081,592	$ 787,510	$ 70,016,457

Condensed Consolidated Stateme7

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) (Parentheticals)	6 Months Ended
	Jun. 30, 2016$ / shares
Retained Earnings [Member]
Dividends on common stock, per share (in dollars per share)	$ 0.08

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 2,532,757	$ 2,867,493
Items not requiring (providing) cash:
Deferred income taxes	(124,379)	(66,960)
Depreciation	401,932	450,843
Provision for loan losses	750,000	150,000
Gain on sale of mortgage loans held for sale and investment securities	(843,862)	(899,088)
Gain (loss) on sale of foreclosed assets		(8,905)
Gain on sale of Small Business Administration Loans	(152,238)	(344,439)
Amortization of deferred income, premiums and discounts	281,861	397,669
Stock award plan expense	213,260	197,259
Origination of loans held for sale	(28,598,708)	(27,448,305)
Proceeds from sale of loans held for sale	29,256,415	27,788,422
Increase in cash surrender value of bank owned life insurance	(245,382)	(180,420)
Changes in:
Accrued interest receivable	106,091	(55,264)
Prepaid expenses and other assets	(51,540)	363,793
Accounts payable and accrued expenses	(54,158)	(29,498)
Income taxes receivable	459,404	30,292
Net cash provided by operating activities	3,931,453	3,212,892
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of loans receivable	(11,132,508)
Net change in loans	(17,629,540)	(18,025,610)
Principal payments on available-for-sale securities	3,909,170	4,960,336
Principal payments on held-to-maturity securities	9,241	9,652
Proceeds from calls/maturities of available-for-sale securities	535,000
Purchase of premises and equipment	(679,031)	(539,165)
Purchase of available-for-sale securities	(64,776,154)	(19,740,808)
Proceeds from sale of available-for-sale securities	54,920,025	17,244,115
Redemption (purchase) of Federal Home Loan Bank stock	(1,081,500)	319,400
Proceeds from sale of foreclosed assets held for sale	108,592	87,894
Net cash used in investing activities	(35,816,705)	(15,684,186)
CASH FLOWS FROM FINANCING ACTIVITIES
Cash dividends paid on common stock	(705,921)	(436,567)
Net increase in demand deposits, NOW accounts and savings accounts	781,901	39,790,239
Net decrease in certificates of deposit	(3,753,036)	(61,439)
Proceeds from Federal Home Loan Bank advances	116,350,000
Repayments of Federal Home Loan Bank and Federal Reserve advances	(90,050,000)	(8,250,000)
Net decrease of securities sold under agreements to repurchase		(10,000,000)
Advances from borrowers for taxes and insurance	200,869	241,198
Stock options exercised	85,800	111,304
Net cash provided by financing activities	22,909,613	21,394,735
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(8,975,639)	8,923,441
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	18,774,419	12,493,890
CASH AND CASH EQUIVALENTS, END OF PERIOD	$ 9,798,780	$ 21,417,331

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	6 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
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 (GAAP) 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, 2015 (“2015 Annual Report”) 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, 2015, 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, 2016
Notes to Financial Statements
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, 2016
Notes to Financial Statements
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, 2016 Equity Securities $ 102,212 $ 1,732 $ (17,593 ) $ 86,351 Debt Securities: Municipals 46,872,094 1,272,166 (17,406 ) 48,126,854 Corporates 5,091,733 1,980 (200,907 ) 4,892,805 Government sponsored mortgage-backed securities and SBA loan pools 51,550,483 334,049 (124,005 ) 51,760,527 $ 103,616,522 $ 1,609,927 $ (359,911 ) $ 104,866,537 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Approximate Fair Value As of December 31, 2015 Equity Securities $ 102,212 $ 10,081 $ (12,776 ) $ 99,517 Debt Securities: U. S. government agencies 8,533,885 - (137,101 ) 8,396,784 Municipals 31,132,635 302,335 (85,808 ) 31,349,162 Corporates 3,965,719 - (152,019 ) 3,813,700 Government sponsored mortgage-backed securities and SBA loan pools 54,643,681 13,764 (1,024,121 ) 53,633,324 $ 98,378,132 $ 326,180 $ (1,411,825 ) $ 97,292,487 Maturities of available-for-sale debt securities as of June 30, 2016: Amortized Cost Approximate Fair Value 1-5 years 2,358,344 2,369,598 6-10 years 12,192,973 12,442,776 After 10 years 37,412,510 38,207,285 Government sponsored mortgage-backed securities and SBA loan pools not due on a single maturity date 51,550,483 51,760,527 $ 103,514,310 $ 104,780,186 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, 2016 Debt Securities: Government sponsored mortgage-backed securities $ 33,858 $ 844 $ - $ 34,702 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Approximate Fair Value As of December 31, 2015 Debt Securities: Government sponsored mortgage-backed securities $ 43,099 $ 836 $ - $ 43,935 Maturities of held-to-maturity securities as of June 30, 2016: Amortized Cost Approximate Fair Value Government sponsored mortgage-backed securities not due on a single maturity date $ 33,858 $ 34,702 The book value of securities pledged as collateral, to secure public deposits and for other purposes, amounted to $75,458,562 and $52,554,932 as of June 30, 2016 and December 31, 2015, respectively. The approximate fair value of pledged securities amounted to $76,538,351 and $52,095,842 as of June 30, 2016 and December 31, 2015, 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 $111,405 and $155,313 as of June 30, 2016 and June 30, 2015, respectively, were realized from the sale of available-for-sale securities. The tax effect of these net gains was $41,220 and $57,466 as of June 30, 2016 and June 30, 2015, 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, 2016 and December 31, 2015, was $26,399,334 and $68,123,480, respectively, which is approximately 25% 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, 2016 and December 31, 2015. June 30, 2016 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 $ - $ - $ 30,334 $ (17,593 ) $ 30,334 $ (17,593 ) Municipals 2,448,778 (17,125 ) 183,530 (281 ) 2,632,308 (17,406 ) Corporates 1,379,005 (58,196 ) 2,963,750 (142,711 ) 4,342,755 (200,907 ) Government sponsored mortgage-backed securities and SBA loan pools 13,970,611 (72,724 ) 5,423,326 (51,281 ) 19,393,937 (124,005 ) $ 17,798,394 $ (148,045 ) $ 8,600,940 $ (211,866 ) $ 26,399,334 $ (359,911 ) December 31, 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 $ - $ - $ 35,151 $ (12,776 ) $ 35,151 $ (12,776 ) U. S. government agencies 6,399,920 (83,965 ) 1,996,864 (53,136 ) 8,396,784 (137,101 ) Municipals 6,167,019 (70,266 ) 715,410 (15,542 ) 6,882,429 (85,808 ) Corporates 1,675,500 (79,708 ) 2,138,200 (72,311 ) 3,813,700 (152,019 ) Government sponsored mortgage-backed securities and SBA loan pools 33,072,102 (493,865 ) 15,923,314 (530,256 ) 48,995,416 (1,024,121 ) $ 47,314,541 $ (727,804 ) $ 20,808,939 $ (684,021 ) $ 68,123,480 $ (1,411,825 )

Note 4 - Loans and Allowance fo

Note 4 - Loans and Allowance for Loan Losses	6 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	Note 4: Loans and Allowance for Loan Losses June 30, December 31, 2016 2015 Real estate - residential mortgage: One to four family units $ 105,614,341 $ 98,257,417 Multi-family 36,894,514 41,603,670 Real estate - construction 53,350,379 45,462,895 Real estate - commercial 222,741,281 208,824,573 Commercial loans 83,112,278 81,006,897 Consumer and other loans 23,747,537 21,991,881 Total loans 525,460,330 497,147,333 Less: Allowance for loan losses (6,181,151 ) (5,811,940 ) Deferred loan fees/costs, net (330,374 ) (333,486 ) Net loans $ 518,948,805 $ 491,001,907 As of June 30, 2016 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 $ 1,785 $ 203 $ 122 $ 2,110 $ 103,504 $ 105,614 $ - Multi-family - - - - 36,895 36,895 - Real estate - construction $ 5,556 - - 5,556 47,794 53,350 - Real estate - commercial 161 85 - 246 222,495 222,741 - Commercial loans 661 - 707 1,368 81,744 83,112 - Consumer and other loans 40 - 216 256 23,492 23,748 - Total $ 8,203 $ 288 $ 1,045 $ 9,536 $ 515,924 $ 525,460 $ - As of December 31, 2015 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 $ - $ 168 $ 105 $ 273 $ 97,984 $ 98,257 $ - Multi-family - - - - 41,604 41,604 - Real estate - construction - - - - 45,463 45,463 - Real estate - commercial - - 1,079 1,079 207,745 208,824 - Commercial loans 88 - 1,239 1,327 79,680 81,007 - Consumer and other loans 2 8 - 10 21,982 21,992 - Total $ 90 $ 176 $ 2,423 $ 2,689 $ 494,458 $ 497,147 $ - June 30, 2016 December 31, 2015 Real estate - residential mortgage: One to four family units $ 2,161,204 $ 2,272,535 Multi-family - - Real estate - construction 7,728,032 8,079,807 Real estate - commercial 246,233 1,240,909 Commercial loans 1,159,871 2,149,333 Consumer and other loans 260,587 12,891 Total $ 11,555,927 $ 13,755,475 Three months ended June 30, 2016 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 $ 1,868 $ 1,486 $ 826 $ 159 $ 1,503 $ 270 $ 73 $ 6,185 Provision charged to expense 19 101 77 (2 ) 21 5 154 $ 375 Losses charged off (252 ) - (47 ) - (159 ) (45 ) - $ (503 ) Recoveries 33 26 6 - 1 58 - $ 124 Balance, end of period $ 1,668 $ 1,613 $ 862 $ 157 $ 1,366 $ 288 $ 227 $ 6,181 Six months ended June 30, 2016 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 $ 1,246 $ 1,526 $ 821 $ 177 $ 1,382 $ 223 $ 437 $ 5,812 Provision charged to expense 640 55 74 (20 ) 142 69 (210 ) $ 750 Losses charged off (252 ) - (47 ) - (159 ) (74 ) - $ (532 ) Recoveries 34 32 14 - 1 70 - $ 151 Balance, end of period $ 1,668 $ 1,613 $ 862 $ 157 $ 1,366 $ 288 $ 227 $ 6,181 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 The following tables present the recorded investment in loans based on portfolio segment and impairment method as of June 30, 2016 and December 31, 2015: As of June 30, 2016 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 $ 358 $ - $ 4 $ - $ 342 $ 17 $ - $ 721 Ending balance: collectively evaluated for impairment $ 1,310 $ 1,613 $ 858 $ 157 $ 1,024 $ 271 $ 227 $ 5,460 Loans: Ending balance: individually evaluated for impairment $ 7,728 $ 246 $ 2,162 $ - $ 1,160 $ 358 $ - $ 11,654 Ending balance: collectively evaluated for impairment $ 45,622 $ 222,495 $ 103,452 $ 36,895 $ 81,952 $ 23,390 $ - $ 513,806 December 31, 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 $ 540 $ - $ - $ - $ 312 $ 13 $ - $ 865 Ending balance: collectively evaluated for impairment $ 706 $ 1,526 $ 821 $ 177 $ 1,070 $ 210 $ 437 $ 4,947 Loans: Ending balance: individually evaluated for impairment $ 8,080 $ 1,241 $ 2,272 $ - $ 2,149 $ 988 $ - $ 14,730 Ending balance: collectively evaluated for impairment $ 37,383 $ 207,583 $ 95,985 $ 41,604 $ 78,858 $ 21,004 $ - $ 482,417 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 uncollectability 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 collectability 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 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, 2016 and December 31, 2015: June 30, 2016 December 31, 2015 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 $ 2,133 $ 2,133 $ - $ 2,272 $ 2,272 $ - Multi-family - - - - - - Real estate - construction 5,630 6,863 - 5,730 5,730 - Real estate - commercial 246 246 - 1,241 1,241 - Commercial loans 717 1,020 - 1,538 1,538 - Consumer and other loans 261 261 - 904 904 - Loans with a specific valuation allowance Real estate - residential mortgage: One to four family units $ 28 $ 28 $ 4 $ - $ - $ - Multi-family - - - - - - Real estate - construction 2,098 3,605 358 2,350 4,838 540 Real estate - commercial - - - - - - Commercial loans 443 592 342 611 914 312 Consumer and other loans 98 98 17 84 84 13 Total Real estate - residential mortgage: One to four family units $ 2,161 $ 2,161 $ 4 $ 2,272 $ 2,272 $ - Multi-family - - - - - - Real estate - construction 7,728 10,468 358 8,080 10,568 540 Real estate - commercial 246 246 - 1,241 1,241 - Commercial loans 1,160 1,612 342 2,149 2,452 312 Consumer and other loans 359 359 17 988 988 13 Total $ 11,654 $ 14,846 $ 721 $ 14,730 $ 17,521 $ 865 The following tables summarize average impaired loans and related interest recognized on impaired loans for the three and six months ended June 30, 2016 and 2015: For the Three Months Ended For the Three Months Ended June 30, 2016 June 30, 2015 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 2,207 $ - $ 749 $ 1 Multi-family - - - - Real estate - construction 5,662 - 74 - Real estate - commercial 525 - - - Commercial loans 872 - 327 - Consumer and other loans 128 1 16 - Loans with a specific valuation allowance Real estate - residential mortgage: One to four family units 9 $ - $ 361 $ - Multi-family - - - - Real estate - construction 2,266 - 2,610 - Real estate - commercial - - - - Commercial loans 392 - 620 - Consumer and other loans 120 - 127 - Total Real estate - residential mortgage: One to four family units $ 2,216 $ - $ 1,110 $ 1 Multi-family - - - - Real estate - construction 7,928 - 2,684 - Real estate - commercial 525 - - - Commercial loans 1,264 - 947 - Consumer and other loans 248 1 143 - Total $ 12,181 $ 1 $ 4,884 $ 1 For the Six Months Ended For the Six Months Ended June 30, 2016 June 30, 2015 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 2,223 $ - $ 729 $ 2 Multi-family - - - - Real estate - construction 5,693 - 74 - Real estate - commercial 863 - - - Commercial loans 1,112 - 332 - Consumer and other loans 78 1 13 - Loans with a specific valuation allowance Real estate - residential mortgage: One to four family units 21 $ - $ 456 $ - Multi-family - - - - Real estate - construction 2,308 - 2,680 - Real estate - commercial - - - - Commercial loans 545 - 621 - Consumer and other loans 102 - 139 - Total Real estate - residential mortgage: One to four family units $ 2,244 $ - $ 1,185 $ 2 Multi-family - - - - Real estate - construction 8,001 - 2,754 - Real estate - commercial 863 - - - Commercial loans 1,657 - 953 - Consumer and other loans 180 1 152 - Total $ 12,945 $ 1 $ 5,044 $ 2 At June 30, 2016, 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, 2016 and December 31, 2015: June 30, 2016 December 31, 2015 Real estate - residential mortgage: One to four family units $ 1,550,041 $ 1,556,964 Multi-family - - Real estate - construction 7,728,033 8,079,807 Real estate - commercial 161,491 161,491 Commercial loans 633,592 1,442,476 Consumer and other loans - - Total $ 10,073,157 $ 11,240,738 The bank did not have any new TDRs for the six months ending June 30, 2016. The Bank has allocated $483,717 and $841,284 of specific reserves to customers whose loan terms have been modified in TDR as of June 30, 2016 and December 31, 2015, 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, 2016 and 2015. 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, 2016 and December 31, 2015: June 30, 2016 Construction Commercial Real Estate One to four family Multi-family Commercial Consumer and Other Total (In Thousands) Rating: Pass $ 45,622 $ 214,407 $ 99,152 $ 36,895 $ 76,750 $ 23,270 $ 496,096 Special Mention - 5,928 2,941 - 4,201 - 13,070 Substandard 7,728 2,406 3,521 - 1,541 478 15,674 Doubtful - - - - 620 - 620 Total $ 53,350 $ 222,741 $ 105,614 $ 36,895 $ 83,112 $ 23,748 $ 525,460 December 31, 2015 Construction Commercial Real Estate One to four family Multi-family Commercial Consumer and Other Total (In Thousands) Rating: Pass $ 37,383 $ 198,230 $ 91,267 $ 41,604 $ 73,407 $ 21,775 $ 463,666 Special Mention - 3,657 3,319 - 2,267 - 9,243 Substandard 8,080 6,937 3,671 - 4,730 217 23,635 Doubtful - - - - 603 - 603 Total $ 45,463 $ 208,824 $ 98,257 $ 41,604 $ 81,007 $ 21,992 $ 497,147 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, 2016
Notes to Financial Statements
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 2015 Annual Report. The following tables below summarize transactions under the Company’s equity plans for the six months ended June 30, 2016: Number of shares Incentive Stock Option Non- Incentive Stock Option Weighted Average Exercise Price Balance outstanding as of January 1, 2016 91,500 57,500 $ 19.58 Granted - - - Exercised (11,500 ) (5,000 ) 5.20 Forfeited (5,000 ) - 28.34 Balance outstanding as of June 30, 2016 75,000 52,500 $ 21.10 Options exercisable as of June 30, 2016 75,000 52,500 $ 21.10 The total intrinsic value of stock options exercised for the six months ended June 30, 2016 was $169,103. The total intrinsic value of outstanding stock options (including exercisable) was $430,880 at June 30, 2016. Restricted Stock Number of Shares Weighted Average Grant- Date Fair Value Balance of shares non-vested as of January 1, 2016 43,477 $ 12.75 Granted 24,679 15.01 Vested (1,454 ) 15.00 Forfeited - - Balance of shares non-vested as of June 30, 2016 66,702 $ 13.54 In February 2016, the Company granted 9,336 shares of restricted stock to directors pursuant to the 2015 Equity Plan of which 1,167 were immediately vested (and expensed in full) and 8,167 have a cliff vesting at the end of one year, and thus, expensed over that same period. These shares had a grant date market price of $15.00 per share. The total amount expensed for the quarter was $62,240. For the six months ended June 30, 2016, the Company granted 15,343 shares of restricted stock to officers that have a cliff vesting at the end of three years. The 2016 grants had 14,593 shares with a grant date market price of $15.00 and 750 shares with a grant date market price of $15.34. The expense is being recognized over the applicable vesting period. The total amount of expense for restricted stock grants to officers (including all previous years grants) during the six months ended June 30, 2016 was $151,020. Total stock-based compensation expense recognized for the three months ended June 30, 2016 was $126,403. Total stock-based compensation expense recognized for the six months ended June 30, 2016 was $213,260. As of June 30, 2016, there was $467,821 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, 2016
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 6: Income Per Common Share For three months ended June 30, 2016 For six months ended June 30, 2016 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 $ 1,256,152 4,366,507 $ 0.29 $ 2,532,757 4,363,375 $ 0.58 Effect of Dilutive Securities 53,977 52,028 Diluted Income Per Common Share $ 1,256,152 4,420,484 $ 0.28 $ 2,532,757 4,415,403 $ 0.57 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 $ 2,867,492 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 $ 2,867,492 4,381,216 $ 0.65 Stock options to purchase 83,500 shares of common stock were outstanding during the three and six months ended June 30, 2016 and stock options to purchase 108,500 shares of common stock were outstanding during the three and six months ended June 30, 2015 but were not included in the computation of diluted income per common share because their exercise price was 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, 2016
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]	Note 7: New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606): Revenue from Contracts with Customers In February 2015, the FASB issued ASU 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis In January 2016, the FASB issued ASU 2016-01, Financial Instruments- Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU 2016-02, Leases In March 2016, the FASB issued ASU 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments

Note 8 - Disclosures About Fair

Note 8 - Disclosures About Fair Value of Assets and Liabilities	6 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
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, 2016 and December 31, 2015 (dollar amounts in thousands): 6/30/2016 Financial assets: Level 1 inputs Level 2 inputs Level 3 inputs Total fair value Equity securities $ 86 $ - $ - $ 86 Debt securities: Municipals - 48,127 - 48,127 Corporates - 4,893 - 4,893 Government sponsored mortgage-backed securities and SBA loan pools - 51,761 - 51,761 Available-for-sale securities $ 86 $ 104,781 $ - $ 104,867 12/31/2015 Financial assets: Level 1 inputs Level 2 inputs Level 3 inputs Total fair value Equity securities $ 99 $ - $ - $ 99 Debt securities: U.S. government agencies - 8,397 - 8,397 Municipals - 31,349 - 31,349 Corporates - 3,814 - 3,814 Government sponsored mortgage-backed securities and SBA loan pools - 53,633 - 53,633 Available-for-sale securities $ 99 $ 97,193 $ - $ 97,292 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, 2016 and December 31, 2015 (dollar amounts in thousands): Impaired loans: Level 1 inputs Level 2 inputs Level 3 inputs Total fair value June 30, 2016 $ - $ - $ 3,329 $ 3,329 December 31, 2015 $ - $ - $ 5,000 $ 5,000 Foreclosed assets held for sale: Level 1 inputs Level 2 inputs Level 3 inputs Total fair value June 30, 2016 $ - $ - $ - $ - December 31, 2015 $ - $ - $ - $ - There were no transfers between valuation levels for any asset during the six months ended June 30, 2016 or 2015. 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, 2016 Valuation Technique Unobservable Input Range (Weighted Average) Impaired loans (collateral dependent) $ 3,329 Market Comparable Discount to reflect realizable value 0% - 41% (5%) Foreclosed assets held for sale $ - Market Comparable Discount to reflect realizable value 0% Fair Value December 31, 2015 Valuation Technique Unobservable Input Range (Weighted Average) Impaired loans (collateral dependent) $ 5,000 Market Comparable Discount to reflect realizable value 0% - 23% (4%) Foreclosed assets held for sale $ - 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 The fair value of advances 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, 2016 and December 31, 2015. June 30, 2016 Carrying Amount Fair Value Hierarchy Level Financial assets: Cash and cash equivalents $ 9,798,780 $ 9,798,780 1 Held-to-maturity securities 33,858 34,702 2 Federal Home Loan Bank stock 3,919,000 3,919,000 2 Mortgage loans held for sale 1,977,683 1,977,683 2 Loans, net 518,948,805 517,815,050 3 Interest receivable 1,880,601 1,880,601 2 Financial liabilities: Deposits 514,414,560 504,216,146 2 Federal Home Loan Bank advances 78,400,000 78,821,920 2 Subordinated debentures 15,465,000 15,465,000 3 Interest payable 198,173 198,173 2 Unrecognized financial instruments (net of contractual value): Commitments to extend credit - - - Unused lines of credit - - - December 31, 2015 Carrying Amount Fair Value Hierarchy Level Financial assets: Cash and cash equivalents $ 18,774,419 $ 18,774,419 1 Held-to-maturity securities 43,099 43,935 2 Federal Home Loan Bank stock 2,837,500 2,837,500 2 Mortgage loans held for sale 1,902,933 1,902,933 2 Loans, net 491,001,907 495,207,798 3 Interest receivable 1,986,692 1,986,692 2 Financial liabilities: Deposits 517,385,695 511,225,380 2 Federal Home Loan Bank advances 52,100,000 53,227,960 2 Subordinated debentures 15,465,000 15,465,000 3 Interest payable 196,102 196,102 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, 2016
Held-to-maturity Securities [Member]
Notes Tables
Held-to-maturity Securities [Table Text Block]	Amortized Cost Approximate Fair Value Government sponsored mortgage-backed securities not due on a single maturity date $ 33,858 $ 34,702
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, 2016 Equity Securities $ 102,212 $ 1,732 $ (17,593 ) $ 86,351 Debt Securities: Municipals 46,872,094 1,272,166 (17,406 ) 48,126,854 Corporates 5,091,733 1,980 (200,907 ) 4,892,805 Government sponsored mortgage-backed securities and SBA loan pools 51,550,483 334,049 (124,005 ) 51,760,527 $ 103,616,522 $ 1,609,927 $ (359,911 ) $ 104,866,537 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Approximate Fair Value As of December 31, 2015 Equity Securities $ 102,212 $ 10,081 $ (12,776 ) $ 99,517 Debt Securities: U. S. government agencies 8,533,885 - (137,101 ) 8,396,784 Municipals 31,132,635 302,335 (85,808 ) 31,349,162 Corporates 3,965,719 - (152,019 ) 3,813,700 Government sponsored mortgage-backed securities and SBA loan pools 54,643,681 13,764 (1,024,121 ) 53,633,324 $ 98,378,132 $ 326,180 $ (1,411,825 ) $ 97,292,487
Available-for-sale Securities [Table Text Block]	Amortized Cost Approximate Fair Value 1-5 years 2,358,344 2,369,598 6-10 years 12,192,973 12,442,776 After 10 years 37,412,510 38,207,285 Government sponsored mortgage-backed securities and SBA loan pools not due on a single maturity date 51,550,483 51,760,527 $ 103,514,310 $ 104,780,186
Held-to-maturity Securities [Table Text Block]	Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Approximate Fair Value As of June 30, 2016 Debt Securities: Government sponsored mortgage-backed securities $ 33,858 $ 844 $ - $ 34,702 Amortized Cost Gross Unrealized Gains Gross Unrealized (Losses) Approximate Fair Value As of December 31, 2015 Debt Securities: Government sponsored mortgage-backed securities $ 43,099 $ 836 $ - $ 43,935
Schedule of Unrealized Loss on Investments [Table Text Block]	June 30, 2016 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 $ - $ - $ 30,334 $ (17,593 ) $ 30,334 $ (17,593 ) Municipals 2,448,778 (17,125 ) 183,530 (281 ) 2,632,308 (17,406 ) Corporates 1,379,005 (58,196 ) 2,963,750 (142,711 ) 4,342,755 (200,907 ) Government sponsored mortgage-backed securities and SBA loan pools 13,970,611 (72,724 ) 5,423,326 (51,281 ) 19,393,937 (124,005 ) $ 17,798,394 $ (148,045 ) $ 8,600,940 $ (211,866 ) $ 26,399,334 $ (359,911 ) December 31, 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 $ - $ - $ 35,151 $ (12,776 ) $ 35,151 $ (12,776 ) U. S. government agencies 6,399,920 (83,965 ) 1,996,864 (53,136 ) 8,396,784 (137,101 ) Municipals 6,167,019 (70,266 ) 715,410 (15,542 ) 6,882,429 (85,808 ) Corporates 1,675,500 (79,708 ) 2,138,200 (72,311 ) 3,813,700 (152,019 ) Government sponsored mortgage-backed securities and SBA loan pools 33,072,102 (493,865 ) 15,923,314 (530,256 ) 48,995,416 (1,024,121 ) $ 47,314,541 $ (727,804 ) $ 20,808,939 $ (684,021 ) $ 68,123,480 $ (1,411,825 )

Note 4 - Loans and Allowance 18

Note 4 - Loans and Allowance for Loan Losses (Tables)	6 Months Ended
	Jun. 30, 2016
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	June 30, December 31, 2016 2015 Real estate - residential mortgage: One to four family units $ 105,614,341 $ 98,257,417 Multi-family 36,894,514 41,603,670 Real estate - construction 53,350,379 45,462,895 Real estate - commercial 222,741,281 208,824,573 Commercial loans 83,112,278 81,006,897 Consumer and other loans 23,747,537 21,991,881 Total loans 525,460,330 497,147,333 Less: Allowance for loan losses (6,181,151 ) (5,811,940 ) Deferred loan fees/costs, net (330,374 ) (333,486 ) Net loans $ 518,948,805 $ 491,001,907
Past Due Financing Receivables [Table Text Block]	As of June 30, 2016 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 $ 1,785 $ 203 $ 122 $ 2,110 $ 103,504 $ 105,614 $ - Multi-family - - - - 36,895 36,895 - Real estate - construction $ 5,556 - - 5,556 47,794 53,350 - Real estate - commercial 161 85 - 246 222,495 222,741 - Commercial loans 661 - 707 1,368 81,744 83,112 - Consumer and other loans 40 - 216 256 23,492 23,748 - Total $ 8,203 $ 288 $ 1,045 $ 9,536 $ 515,924 $ 525,460 $ - As of December 31, 2015 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 $ - $ 168 $ 105 $ 273 $ 97,984 $ 98,257 $ - Multi-family - - - - 41,604 41,604 - Real estate - construction - - - - 45,463 45,463 - Real estate - commercial - - 1,079 1,079 207,745 208,824 - Commercial loans 88 - 1,239 1,327 79,680 81,007 - Consumer and other loans 2 8 - 10 21,982 21,992 - Total $ 90 $ 176 $ 2,423 $ 2,689 $ 494,458 $ 497,147 $ -
Schedule of Financing Receivables, Non Accrual Status [Table Text Block]	June 30, 2016 December 31, 2015 Real estate - residential mortgage: One to four family units $ 2,161,204 $ 2,272,535 Multi-family - - Real estate - construction 7,728,032 8,079,807 Real estate - commercial 246,233 1,240,909 Commercial loans 1,159,871 2,149,333 Consumer and other loans 260,587 12,891 Total $ 11,555,927 $ 13,755,475
Allowance for Credit Losses on Financing Receivables [Table Text Block]	Three months ended June 30, 2016 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 $ 1,868 $ 1,486 $ 826 $ 159 $ 1,503 $ 270 $ 73 $ 6,185 Provision charged to expense 19 101 77 (2 ) 21 5 154 $ 375 Losses charged off (252 ) - (47 ) - (159 ) (45 ) - $ (503 ) Recoveries 33 26 6 - 1 58 - $ 124 Balance, end of period $ 1,668 $ 1,613 $ 862 $ 157 $ 1,366 $ 288 $ 227 $ 6,181 Six months ended June 30, 2016 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 $ 1,246 $ 1,526 $ 821 $ 177 $ 1,382 $ 223 $ 437 $ 5,812 Provision charged to expense 640 55 74 (20 ) 142 69 (210 ) $ 750 Losses charged off (252 ) - (47 ) - (159 ) (74 ) - $ (532 ) Recoveries 34 32 14 - 1 70 - $ 151 Balance, end of period $ 1,668 $ 1,613 $ 862 $ 157 $ 1,366 $ 288 $ 227 $ 6,181 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 As of June 30, 2016 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 $ 358 $ - $ 4 $ - $ 342 $ 17 $ - $ 721 Ending balance: collectively evaluated for impairment $ 1,310 $ 1,613 $ 858 $ 157 $ 1,024 $ 271 $ 227 $ 5,460 Loans: Ending balance: individually evaluated for impairment $ 7,728 $ 246 $ 2,162 $ - $ 1,160 $ 358 $ - $ 11,654 Ending balance: collectively evaluated for impairment $ 45,622 $ 222,495 $ 103,452 $ 36,895 $ 81,952 $ 23,390 $ - $ 513,806 December 31, 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 $ 540 $ - $ - $ - $ 312 $ 13 $ - $ 865 Ending balance: collectively evaluated for impairment $ 706 $ 1,526 $ 821 $ 177 $ 1,070 $ 210 $ 437 $ 4,947 Loans: Ending balance: individually evaluated for impairment $ 8,080 $ 1,241 $ 2,272 $ - $ 2,149 $ 988 $ - $ 14,730 Ending balance: collectively evaluated for impairment $ 37,383 $ 207,583 $ 95,985 $ 41,604 $ 78,858 $ 21,004 $ - $ 482,417
Impaired Financing Receivables [Table Text Block]	June 30, 2016 December 31, 2015 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 $ 2,133 $ 2,133 $ - $ 2,272 $ 2,272 $ - Multi-family - - - - - - Real estate - construction 5,630 6,863 - 5,730 5,730 - Real estate - commercial 246 246 - 1,241 1,241 - Commercial loans 717 1,020 - 1,538 1,538 - Consumer and other loans 261 261 - 904 904 - Loans with a specific valuation allowance Real estate - residential mortgage: One to four family units $ 28 $ 28 $ 4 $ - $ - $ - Multi-family - - - - - - Real estate - construction 2,098 3,605 358 2,350 4,838 540 Real estate - commercial - - - - - - Commercial loans 443 592 342 611 914 312 Consumer and other loans 98 98 17 84 84 13 Total Real estate - residential mortgage: One to four family units $ 2,161 $ 2,161 $ 4 $ 2,272 $ 2,272 $ - Multi-family - - - - - - Real estate - construction 7,728 10,468 358 8,080 10,568 540 Real estate - commercial 246 246 - 1,241 1,241 - Commercial loans 1,160 1,612 342 2,149 2,452 312 Consumer and other loans 359 359 17 988 988 13 Total $ 11,654 $ 14,846 $ 721 $ 14,730 $ 17,521 $ 865 For the Three Months Ended For the Three Months Ended June 30, 2016 June 30, 2015 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 2,207 $ - $ 749 $ 1 Multi-family - - - - Real estate - construction 5,662 - 74 - Real estate - commercial 525 - - - Commercial loans 872 - 327 - Consumer and other loans 128 1 16 - Loans with a specific valuation allowance Real estate - residential mortgage: One to four family units 9 $ - $ 361 $ - Multi-family - - - - Real estate - construction 2,266 - 2,610 - Real estate - commercial - - - - Commercial loans 392 - 620 - Consumer and other loans 120 - 127 - Total Real estate - residential mortgage: One to four family units $ 2,216 $ - $ 1,110 $ 1 Multi-family - - - - Real estate - construction 7,928 - 2,684 - Real estate - commercial 525 - - - Commercial loans 1,264 - 947 - Consumer and other loans 248 1 143 - Total $ 12,181 $ 1 $ 4,884 $ 1 For the Six Months Ended For the Six Months Ended June 30, 2016 June 30, 2015 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 2,223 $ - $ 729 $ 2 Multi-family - - - - Real estate - construction 5,693 - 74 - Real estate - commercial 863 - - - Commercial loans 1,112 - 332 - Consumer and other loans 78 1 13 - Loans with a specific valuation allowance Real estate - residential mortgage: One to four family units 21 $ - $ 456 $ - Multi-family - - - - Real estate - construction 2,308 - 2,680 - Real estate - commercial - - - - Commercial loans 545 - 621 - Consumer and other loans 102 - 139 - Total Real estate - residential mortgage: One to four family units $ 2,244 $ - $ 1,185 $ 2 Multi-family - - - - Real estate - construction 8,001 - 2,754 - Real estate - commercial 863 - - - Commercial loans 1,657 - 953 - Consumer and other loans 180 1 152 - Total $ 12,945 $ 1 $ 5,044 $ 2
Troubled Debt Restructurings on Financing Receivables [Table Text Block]	June 30, 2016 December 31, 2015 Real estate - residential mortgage: One to four family units $ 1,550,041 $ 1,556,964 Multi-family - - Real estate - construction 7,728,033 8,079,807 Real estate - commercial 161,491 161,491 Commercial loans 633,592 1,442,476 Consumer and other loans - - Total $ 10,073,157 $ 11,240,738
Financing Receivable Credit Quality Indicators [Table Text Block]	June 30, 2016 Construction Commercial Real Estate One to four family Multi-family Commercial Consumer and Other Total (In Thousands) Rating: Pass $ 45,622 $ 214,407 $ 99,152 $ 36,895 $ 76,750 $ 23,270 $ 496,096 Special Mention - 5,928 2,941 - 4,201 - 13,070 Substandard 7,728 2,406 3,521 - 1,541 478 15,674 Doubtful - - - - 620 - 620 Total $ 53,350 $ 222,741 $ 105,614 $ 36,895 $ 83,112 $ 23,748 $ 525,460 December 31, 2015 Construction Commercial Real Estate One to four family Multi-family Commercial Consumer and Other Total (In Thousands) Rating: Pass $ 37,383 $ 198,230 $ 91,267 $ 41,604 $ 73,407 $ 21,775 $ 463,666 Special Mention - 3,657 3,319 - 2,267 - 9,243 Substandard 8,080 6,937 3,671 - 4,730 217 23,635 Doubtful - - - - 603 - 603 Total $ 45,463 $ 208,824 $ 98,257 $ 41,604 $ 81,007 $ 21,992 $ 497,147

Note 5 - Benefit Plans (Tables)

Note 5 - Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2016
Notes Tables
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, 2016 91,500 57,500 $ 19.58 Granted - - - Exercised (11,500 ) (5,000 ) 5.20 Forfeited (5,000 ) - 28.34 Balance outstanding as of June 30, 2016 75,000 52,500 $ 21.10 Options exercisable as of June 30, 2016 75,000 52,500 $ 21.10
Nonvested Restricted Stock Shares Activity [Table Text Block]	Restricted Stock Number of Shares Weighted Average Grant- Date Fair Value Balance of shares non-vested as of January 1, 2016 43,477 $ 12.75 Granted 24,679 15.01 Vested (1,454 ) 15.00 Forfeited - - Balance of shares non-vested as of June 30, 2016 66,702 $ 13.54

Note 6 - Income Per Common Sh20

Note 6 - Income Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2016
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For three months ended June 30, 2016 For six months ended June 30, 2016 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 $ 1,256,152 4,366,507 $ 0.29 $ 2,532,757 4,363,375 $ 0.58 Effect of Dilutive Securities 53,977 52,028 Diluted Income Per Common Share $ 1,256,152 4,420,484 $ 0.28 $ 2,532,757 4,415,403 $ 0.57 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 $ 2,867,492 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 $ 2,867,492 4,381,216 $ 0.65

Note 8 - Disclosures About Fa21

Note 8 - Disclosures About Fair Value of Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2016
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	6/30/2016 Financial assets: Level 1 inputs Level 2 inputs Level 3 inputs Total fair value Equity securities $ 86 $ - $ - $ 86 Debt securities: Municipals - 48,127 - 48,127 Corporates - 4,893 - 4,893 Government sponsored mortgage-backed securities and SBA loan pools - 51,761 - 51,761 Available-for-sale securities $ 86 $ 104,781 $ - $ 104,867 12/31/2015 Financial assets: Level 1 inputs Level 2 inputs Level 3 inputs Total fair value Equity securities $ 99 $ - $ - $ 99 Debt securities: U.S. government agencies - 8,397 - 8,397 Municipals - 31,349 - 31,349 Corporates - 3,814 - 3,814 Government sponsored mortgage-backed securities and SBA loan pools - 53,633 - 53,633 Available-for-sale securities $ 99 $ 97,193 $ - $ 97,292
Fair Value Measurements, Nonrecurring [Table Text Block]	Impaired loans: Level 1 inputs Level 2 inputs Level 3 inputs Total fair value June 30, 2016 $ - $ - $ 3,329 $ 3,329 December 31, 2015 $ - $ - $ 5,000 $ 5,000 Foreclosed assets held for sale: Level 1 inputs Level 2 inputs Level 3 inputs Total fair value June 30, 2016 $ - $ - $ - $ - December 31, 2015 $ - $ - $ - $ -
Fair Value Inputs, Assets, Quantitative Information [Table Text Block]	Fair Value June 30, 2016 Valuation Technique Unobservable Input Range (Weighted Average) Impaired loans (collateral dependent) $ 3,329 Market Comparable Discount to reflect realizable value 0% - 41% (5%) Foreclosed assets held for sale $ - Market Comparable Discount to reflect realizable value 0% Fair Value December 31, 2015 Valuation Technique Unobservable Input Range (Weighted Average) Impaired loans (collateral dependent) $ 5,000 Market Comparable Discount to reflect realizable value 0% - 23% (4%) Foreclosed assets held for sale $ - Market Comparable Discount to reflect realizable value 0%
Fair Value, by Balance Sheet Grouping [Table Text Block]	June 30, 2016 Carrying Amount Fair Value Hierarchy Level Financial assets: Cash and cash equivalents $ 9,798,780 $ 9,798,780 1 Held-to-maturity securities 33,858 34,702 2 Federal Home Loan Bank stock 3,919,000 3,919,000 2 Mortgage loans held for sale 1,977,683 1,977,683 2 Loans, net 518,948,805 517,815,050 3 Interest receivable 1,880,601 1,880,601 2 Financial liabilities: Deposits 514,414,560 504,216,146 2 Federal Home Loan Bank advances 78,400,000 78,821,920 2 Subordinated debentures 15,465,000 15,465,000 3 Interest payable 198,173 198,173 2 Unrecognized financial instruments (net of contractual value): Commitments to extend credit - - - Unused lines of credit - - - December 31, 2015 Carrying Amount Fair Value Hierarchy Level Financial assets: Cash and cash equivalents $ 18,774,419 $ 18,774,419 1 Held-to-maturity securities 43,099 43,935 2 Federal Home Loan Bank stock 2,837,500 2,837,500 2 Mortgage loans held for sale 1,902,933 1,902,933 2 Loans, net 491,001,907 495,207,798 3 Interest receivable 1,986,692 1,986,692 2 Financial liabilities: Deposits 517,385,695 511,225,380 2 Federal Home Loan Bank advances 52,100,000 53,227,960 2 Subordinated debentures 15,465,000 15,465,000 3 Interest payable 196,102 196,102 2 Unrecognized financial instruments (net of contractual value): Commitments to extend credit - - - Unused lines of credit - - -

Note 3 - Securities (Details Te

Note 3 - Securities (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Availablefor Sale Securities Pledgedas Collateral Book Value	$ 75,458,562		$ 52,554,932
Available-for-sale Securities Pledged as Collateral	76,538,351		52,095,842
Available-for-sale Securities, Gross Realized Gains	111,405	$ 155,313
Availablefor Sale Securities Gross Realized Gain Loss Tax Effect	41,220	$ 57,466
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	$ 26,399,334		$ 68,123,480
Percentageof Securitiesin Continuous Unrealized Loss Positionto Total Investment Portfolio	25.00%		70.00%

Note 3 - Securities - Available

Note 3 - Securities - Available-for-sale Securities (Details) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Equity Securities [Member]
Available-for-sale securities, amortized cost	$ 102,212	$ 102,212
Available-for-sale securities, gross unrealized gains	1,732	10,081
Available-for-sale securities, gross unrealized (losses)	(17,593)	(12,776)
Available-for-sale securities, approximate fair value	86,351	99,517
US States and Political Subdivisions Debt Securities [Member]
Available-for-sale securities, amortized cost	46,872,094	31,132,635
Available-for-sale securities, gross unrealized gains	1,272,166	302,335
Available-for-sale securities, gross unrealized (losses)	(17,406)	(85,808)
Available-for-sale securities, approximate fair value	48,126,854	31,349,162
US Government Agencies Debt Securities [Member]
Available-for-sale securities, amortized cost		8,533,885
Available-for-sale securities, gross unrealized gains
Available-for-sale securities, gross unrealized (losses)		(137,101)
Available-for-sale securities, approximate fair value		8,396,784
Corporate Debt Securities [Member]
Available-for-sale securities, amortized cost	5,091,733	3,965,719
Available-for-sale securities, gross unrealized gains	1,980
Available-for-sale securities, gross unrealized (losses)	(200,907)	(152,019)
Available-for-sale securities, approximate fair value	4,892,805	3,813,700
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]
Available-for-sale securities, amortized cost	51,550,483	54,643,681
Available-for-sale securities, gross unrealized gains	334,049	13,764
Available-for-sale securities, gross unrealized (losses)	(124,005)	(1,024,121)
Available-for-sale securities, approximate fair value	51,760,527	53,633,324
Available-for-sale securities, amortized cost	103,616,522	98,378,132
Available-for-sale securities, gross unrealized gains	1,609,927	326,180
Available-for-sale securities, gross unrealized (losses)	(359,911)	(1,411,825)
Available-for-sale securities, approximate fair value	$ 104,866,537	$ 97,292,487

Note 3 - Securities - Availab24

Note 3 - Securities - Available-for-sale Securities by Maturity (Details)	Jun. 30, 2016USD ($)
1-5 years	$ 2,358,344
1-5 years	2,369,598
6-10 years	12,192,973
6-10 years	12,442,776
After 10 years	37,412,510
After 10 years	38,207,285
Government sponsored mortgage-backed securities and SBA loan pools not due on a single maturity date	51,550,483
Government sponsored mortgage-backed securities and SBA loan pools not due on a single maturity date	51,760,527
	103,514,310
	$ 104,780,186

Note 3 - Securities - Held-to-m

Note 3 - Securities - Held-to-maturity Securities (Details) - Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Debt Securities:
Held-to-maturity securities, amortized cost	$ 33,858	$ 43,099
Held-to-maturity securities, gross unrealized gains	844	836
Held-to-maturity securities, gross unrealized losses
Held-to-maturity securities, approximate fair value	$ 34,702	$ 43,935

Note 3 - Securities - Held-to26

Note 3 - Securities - Held-to-maturity Securities By Maturity (Details) $ in Thousands	Jun. 30, 2016USD ($)
Government sponsored mortgage-backed securities not due on a single maturity date	$ 33,858
Government sponsored mortgage-backed securities not due on a single maturity date	$ 34,702

Note 3 - Securities - Securitie

Note 3 - Securities - Securities in a Continuous Unrealized Loss Position (Details) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Equity Securities [Member]
Securities, continuous unrealized loss position, less than 12 months, fair value
Securities, continuous unrealized loss position, less than 12 months, unrealized losses
Securities, continuous unrealized loss position, 12 months or more, fair value	30,334	35,151
Securities, continuous unrealized loss position, 12 months or more, unrealized losses	(17,593)	(12,776)
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	30,334	35,151
Securities, continuous unrealized loss position, unrealized losses	(17,593)	(12,776)
Securities, continuous unrealized loss position, less than 12 months, fair value
Securities, continuous unrealized loss position, fair value	30,334	35,151
US States and Political Subdivisions Debt Securities [Member]
Securities, continuous unrealized loss position, less than 12 months, fair value	2,448,778	6,167,019
Securities, continuous unrealized loss position, less than 12 months, unrealized losses	(17,125)	(70,266)
Securities, continuous unrealized loss position, 12 months or more, fair value	183,530	715,410
Securities, continuous unrealized loss position, 12 months or more, unrealized losses	(281)	(15,542)
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	2,632,308	6,882,429
Securities, continuous unrealized loss position, unrealized losses	(17,406)	(85,808)
Securities, continuous unrealized loss position, less than 12 months, fair value	2,448,778	6,167,019
Securities, continuous unrealized loss position, fair value	2,632,308	6,882,429
US Government Agencies Debt Securities [Member]
Securities, continuous unrealized loss position, less than 12 months, fair value		6,399,920
Securities, continuous unrealized loss position, less than 12 months, unrealized losses		(83,965)
Securities, continuous unrealized loss position, 12 months or more, fair value		1,996,864
Securities, continuous unrealized loss position, 12 months or more, unrealized losses		(53,136)
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value		8,396,784
Securities, continuous unrealized loss position, unrealized losses		(137,101)
Securities, continuous unrealized loss position, less than 12 months, fair value		6,399,920
Securities, continuous unrealized loss position, fair value		8,396,784
Corporate Debt Securities [Member]
Securities, continuous unrealized loss position, less than 12 months, fair value	1,379,005	1,675,500
Securities, continuous unrealized loss position, less than 12 months, unrealized losses	(58,196)	(79,708)
Securities, continuous unrealized loss position, 12 months or more, fair value	2,963,750	2,138,200
Securities, continuous unrealized loss position, 12 months or more, unrealized losses	(142,711)	(72,311)
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	4,342,755	3,813,700
Securities, continuous unrealized loss position, unrealized losses	(200,907)	(152,019)
Securities, continuous unrealized loss position, less than 12 months, fair value	1,379,005	1,675,500
Securities, continuous unrealized loss position, fair value	4,342,755	3,813,700
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]
Securities, continuous unrealized loss position, less than 12 months, fair value	13,970,611	33,072,102
Securities, continuous unrealized loss position, less than 12 months, unrealized losses	(72,724)	(493,865)
Securities, continuous unrealized loss position, 12 months or more, fair value	5,423,326	15,923,314
Securities, continuous unrealized loss position, 12 months or more, unrealized losses	(51,281)	(530,256)
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	19,393,937	48,995,416
Securities, continuous unrealized loss position, unrealized losses	(124,005)	(1,024,121)
Securities, continuous unrealized loss position, less than 12 months, fair value	13,970,611	33,072,102
Securities, continuous unrealized loss position, fair value	19,393,937	48,995,416
Securities, continuous unrealized loss position, less than 12 months, fair value	17,798,394	47,314,541
Securities, continuous unrealized loss position, less than 12 months, unrealized losses	(148,045)	(727,804)
Securities, continuous unrealized loss position, 12 months or more, fair value	8,600,940	20,808,939
Securities, continuous unrealized loss position, 12 months or more, unrealized losses	(211,866)	(684,021)
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	26,399,334	68,123,480
Securities, continuous unrealized loss position, unrealized losses	(359,911)	(1,411,825)
Securities, continuous unrealized loss position, less than 12 months, fair value	17,798,394	47,314,541
Securities, continuous unrealized loss position, fair value	$ 26,399,334	$ 68,123,480

Note 4 - Loans and Allowance 28

Note 4 - Loans and Allowance for Loan Losses (Details Textual)	6 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2015	Dec. 31, 2015USD ($)
Troubled Debt Restructurings [Member]
Allowance for Credit Losses, Change in Method of Calculating Impairment	$ 483,717		$ 841,284
Financing Receivable, Modifications, Number of Contracts	0
Financing Receivable, Modifications, Subsequent Default, Number of Contracts	0	0

Note 4 - Loans and Allowance 29

Note 4 - Loans and Allowance for Loan Losses - Loans By Category (Details) - USD ($)	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014
Residential Portfolio Segment [Member] | One To Four Family Units [Member]
Loans receivable	$ 105,614,341		$ 98,257,417
Allowance for loan losses	(862,000)	$ (826,000)	(821,000)	$ (805,000)	$ (884,000)	$ (900,000)
Residential Portfolio Segment [Member] | Multi Family Units [Member]
Loans receivable	36,894,514		41,603,670
Allowance for loan losses	(157,000)	(159,000)	(177,000)	(151,000)	(133,000)	(127,000)
Residential Portfolio Segment [Member] | Construction Loans [Member]
Loans receivable	53,350,379		45,462,895
Allowance for loan losses	(1,668,000)	(1,868,000)	(1,246,000)	(1,346,000)	(1,361,000)	(1,330,000)
Commercial Real Estate Portfolio Segment [Member]
Loans receivable	222,741,281		208,824,573
Commercial Portfolio Segment [Member]
Loans receivable	83,112,278		81,006,897
Allowance for loan losses	(1,366,000)	(1,503,000)	(1,382,000)	(1,893,000)	(1,804,000)	(1,954,000)
Consumer Portfolio Segment [Member] | Other Loans [Member]
Loans receivable	23,747,537		21,991,881
Allowance for loan losses	(288,000)	(270,000)	(223,000)	(232,000)	(221,000)	(185,000)
Loans receivable	525,460,330		497,147,333
Allowance for loan losses	(6,181,151)	$ (6,185,000)	(5,811,940)	$ (6,651,000)	$ (6,756,000)	$ (6,589,000)
Deferred loan fees/costs, net	(330,374)		(333,486)
Net loans	$ 518,948,805		$ 491,001,907

Note 4 - Loans and Allowance 30

Note 4 - Loans and Allowance for Loan Losses - Loans by Aging (Details) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Financing Receivables, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | One To Four Family Units [Member]
Loans receivable, past due	$ 1,785,000
Financing Receivables, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | Multi Family Units [Member]
Loans receivable, past due
Financing Receivables, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | Construction Loans [Member]
Loans receivable, past due	5,556,000
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member]
Loans receivable, past due	161,000
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member]
Loans receivable, past due	661,000	88,000
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Loans receivable, past due	40,000	2,000
Financing Receivables, 30 to 59 Days Past Due [Member]
Loans receivable, past due	8,203,000	90,000
Financing Receivables, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | One To Four Family Units [Member]
Loans receivable, past due	203,000	168,000
Financing Receivables, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Multi Family Units [Member]
Loans receivable, past due
Financing Receivables, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Construction Loans [Member]
Loans receivable, past due
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member]
Loans receivable, past due	85,000
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member]
Loans receivable, past due
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Loans receivable, past due		8,000
Financing Receivables, 60 to 89 Days Past Due [Member]
Loans receivable, past due	288,000	176,000
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | One To Four Family Units [Member]
Loans receivable, past due	122,000	105,000
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | Multi Family Units [Member]
Loans receivable, past due
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | Construction Loans [Member]
Loans receivable, past due
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member]
Loans receivable, past due		1,079,000
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member]
Loans receivable, past due	707,000	1,239,000
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Loans receivable, past due	216,000
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Loans receivable, past due	1,045,000	2,423,000
Residential Portfolio Segment [Member] | One To Four Family Units [Member]
Loans receivable, past due	2,110,000	273,000
Loans receivable, current	103,504,000	97,984,000
Loans receivable	105,614,341	98,257,417
Loans receivable, past due and accruing
Residential Portfolio Segment [Member] | Multi Family Units [Member]
Loans receivable, past due
Loans receivable, current	36,895,000	41,604,000
Loans receivable	36,894,514	41,603,670
Loans receivable, past due and accruing
Residential Portfolio Segment [Member] | Construction Loans [Member]
Loans receivable, past due	5,556,000
Loans receivable, current	47,794,000	45,463,000
Loans receivable	53,350,379	45,462,895
Loans receivable, past due and accruing
Commercial Real Estate Portfolio Segment [Member]
Loans receivable, past due	246,000	1,079,000
Loans receivable, current	222,495,000	207,745,000
Loans receivable	222,741,281	208,824,573
Loans receivable, past due and accruing
Commercial Portfolio Segment [Member]
Loans receivable, past due	1,368,000	1,327,000
Loans receivable, current	81,744,000	79,680,000
Loans receivable	83,112,278	81,006,897
Loans receivable, past due and accruing
Consumer Portfolio Segment [Member] | Other Loans [Member]
Loans receivable, past due	256,000	10,000
Loans receivable, current	23,492,000	21,982,000
Loans receivable	23,747,537	21,991,881
Loans receivable, past due and accruing
Loans receivable, past due	9,536,000	2,689,000
Loans receivable, current	515,924,000	494,458,000
Loans receivable	525,460,330	497,147,333
Loans receivable, past due and accruing

Note 4 - Loans and Allowance 31

Note 4 - Loans and Allowance for Loan Losses - Nonaccuing Loans (Details) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Residential Portfolio Segment [Member] | One To Four Family Units [Member]
Nonaccruing loans	$ 2,161,204	$ 2,272,535
Residential Portfolio Segment [Member] | Multi Family Units [Member]
Nonaccruing loans
Residential Portfolio Segment [Member] | Construction Loans [Member]
Nonaccruing loans	7,728,032	8,079,807
Commercial Real Estate Portfolio Segment [Member]
Nonaccruing loans	246,233	1,240,909
Commercial Portfolio Segment [Member]
Nonaccruing loans	1,159,871	2,149,333
Consumer Portfolio Segment [Member] | Other Loans [Member]
Nonaccruing loans	260,587	12,891
Nonaccruing loans	$ 11,555,927	$ 13,755,475

Note 4 - Loans and Allowance 32

Note 4 - Loans and Allowance for Loan Losses - Allowance for Loan Losses (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Residential Portfolio Segment [Member] | Construction Loans [Member]
Balance, beginning of period	$ 1,868,000	$ 1,361,000	$ 1,246,000	$ 1,330,000
Provision charged to expense	19,000	(16,000)	640,000	8,000
Losses charged off	(252,000)		(252,000)
Recoveries	33,000	1,000	34,000	8,000
Balance, end of period	1,668,000	1,346,000	1,668,000	1,346,000
Allowance for loan losses:
Ending balance: individually evaluated for impairment	358,000		358,000		$ 540,000
Ending balance: collectively evaluated for impairment	1,310,000		1,310,000		706,000
Loans:
Ending balance: individually evaluated for impairment	7,728,000		7,728,000		8,080,000
Ending balance: collectively evaluated for impairment	45,622,000		45,622,000		37,383,000
Residential Portfolio Segment [Member] | One To Four Family Units [Member]
Balance, beginning of period	826,000	884,000	821,000	900,000
Provision charged to expense	77,000	18,000	74,000	(6,000)
Losses charged off	(47,000)	(99,000)	(47,000)	(99,000)
Recoveries	6,000	2,000	14,000	10,000
Balance, end of period	862,000	805,000	862,000	805,000
Allowance for loan losses:
Ending balance: individually evaluated for impairment	4,000		4,000
Ending balance: collectively evaluated for impairment	858,000		858,000		821,000
Loans:
Ending balance: individually evaluated for impairment	2,162,000		2,162,000		2,272,000
Ending balance: collectively evaluated for impairment	103,452,000		103,452,000		95,985,000
Residential Portfolio Segment [Member] | Multi Family Units [Member]
Balance, beginning of period	159,000	133,000	177,000	127,000
Provision charged to expense	(2,000)	18,000	(20,000)	24,000
Losses charged off
Recoveries
Balance, end of period	157,000	151,000	157,000	151,000
Allowance for loan losses:
Ending balance: individually evaluated for impairment
Ending balance: collectively evaluated for impairment	157,000		157,000		177,000
Loans:
Ending balance: individually evaluated for impairment
Ending balance: collectively evaluated for impairment	36,895,000		36,895,000		41,604,000
Commercial Real Estate Portfolio Segment [Member] | Real Estate Loan [Member]
Balance, beginning of period	1,486,000	1,986,000	1,526,000	1,992,000
Provision charged to expense	101,000	(41,000)	55,000	(47,000)
Losses charged off
Recoveries	26,000		32,000
Balance, end of period	1,613,000	1,945,000	1,613,000	1,945,000
Allowance for loan losses:
Ending balance: individually evaluated for impairment
Ending balance: collectively evaluated for impairment	1,613,000		1,613,000		1,526,000
Loans:
Ending balance: individually evaluated for impairment	246,000		246,000		1,241,000
Ending balance: collectively evaluated for impairment	222,495,000		222,495,000		207,583,000
Commercial Portfolio Segment [Member]
Balance, beginning of period	1,503,000	1,804,000	1,382,000	1,954,000
Provision charged to expense	21,000	87,000	142,000	(64,000)
Losses charged off	(159,000)		(159,000)
Recoveries	1,000	2,000	1,000	3,000
Balance, end of period	1,366,000	1,893,000	1,366,000	1,893,000
Allowance for loan losses:
Ending balance: individually evaluated for impairment	342,000		342,000		312,000
Ending balance: collectively evaluated for impairment	1,024,000		1,024,000		1,070,000
Loans:
Ending balance: individually evaluated for impairment	1,160,000		1,160,000		2,149,000
Ending balance: collectively evaluated for impairment	81,952,000		81,952,000		78,858,000
Consumer Portfolio Segment [Member] | Other Loans [Member]
Balance, beginning of period	270,000	221,000	223,000	185,000
Provision charged to expense	5,000	22,000	69,000	57,000
Losses charged off	(45,000)	(15,000)	(74,000)	(33,000)
Recoveries	58,000	4,000	70,000	23,000
Balance, end of period	288,000	232,000	288,000	232,000
Allowance for loan losses:
Ending balance: individually evaluated for impairment	17,000		17,000		13,000
Ending balance: collectively evaluated for impairment	271,000		271,000		210,000
Loans:
Ending balance: individually evaluated for impairment	358,000		358,000		988,000
Ending balance: collectively evaluated for impairment	23,390,000		23,390,000		21,004,000
Unallocated Financing Receivables [Member]
Balance, beginning of period	73,000	367,000	437,000	101,000
Provision charged to expense	154,000	(88,000)	(210,000)	178,000
Losses charged off
Recoveries
Balance, end of period	227,000	279,000	227,000	279,000
Allowance for loan losses:
Ending balance: individually evaluated for impairment
Ending balance: collectively evaluated for impairment	227,000		227,000		437,000
Loans:
Ending balance: individually evaluated for impairment
Ending balance: collectively evaluated for impairment
Balance, beginning of period	6,185,000	6,756,000	5,811,940	6,589,000
Provision charged to expense	375,000		750,000	150,000
Losses charged off	(503,000)	(114,000)	(532,000)	(132,000)
Recoveries	124,000	9,000	151,000	44,000
Balance, end of period	6,181,151	$ 6,651,000	6,181,151	$ 6,651,000
Ending balance: individually evaluated for impairment	721,000		721,000		865,000
Ending balance: collectively evaluated for impairment	5,460,000		5,460,000		4,947,000
Ending balance: individually evaluated for impairment	11,654,000		11,654,000		14,730,000
Ending balance: collectively evaluated for impairment	$ 513,806,000		$ 513,806,000		$ 482,417,000

Note 4 - Loans and Allowance 33

Note 4 - Loans and Allowance for Loan Losses - Impaired Loans (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Residential Portfolio Segment [Member] | One To Four Family Units [Member]
Loans without a specific valuation allowance
Loans without a specific valuation allowance, recorded balance	$ 2,133,000		$ 2,133,000		$ 2,272,000
Loans without a specific valuation allowance, unpaid principal	2,133,000		2,133,000		2,272,000
Loans with a specific valuation allowance, recorded balance	28,000		28,000
Loans with a specific valuation allowance, unpaid principal	28,000		28,000
Valuation allowance	4,000		4,000
Loans without a specific valuation allowance, average investment in impaired loans	2,207,000	$ 749,000	2,223,000	$ 729,000
Loans without a specific valuation allowance, interest income recognized
Loans with a specific valuation allowance, average investment in impaired loans	9,000	361,000	21,000	456,000
Loans with a specific valuation allowance, interest income recognized
Total
Loans recorded balance	2,161,000		2,161,000		2,272,000
Loans unpaid principal	2,161,000		2,161,000		2,272,000
Valuation allowance	4,000		4,000
Loans average investment in impaired loans	2,216,000	1,110,000	2,244,000	1,185,000
Loans interest income recognized
Residential Portfolio Segment [Member] | Multi Family Units [Member]
Loans without a specific valuation allowance
Loans without a specific valuation allowance, recorded balance
Loans without a specific valuation allowance, unpaid principal
Loans with a specific valuation allowance, recorded balance
Loans with a specific valuation allowance, unpaid principal
Valuation allowance
Loans without a specific valuation allowance, average investment in impaired loans
Loans without a specific valuation allowance, interest income recognized
Loans with a specific valuation allowance, average investment in impaired loans
Loans with a specific valuation allowance, interest income recognized
Total
Loans recorded balance
Loans unpaid principal
Valuation allowance
Loans average investment in impaired loans
Loans interest income recognized
Residential Portfolio Segment [Member] | Construction Loans [Member]
Loans without a specific valuation allowance
Loans without a specific valuation allowance, recorded balance	5,630,000		5,630,000		5,730,000
Loans without a specific valuation allowance, unpaid principal	6,863,000		6,863,000		5,730,000
Loans with a specific valuation allowance, recorded balance	2,098,000		2,098,000		2,350,000
Loans with a specific valuation allowance, unpaid principal	3,605,000		3,605,000		4,838,000
Valuation allowance	358,000		358,000		540,000
Loans without a specific valuation allowance, average investment in impaired loans	5,662,000	74,000	5,693,000	74,000
Loans without a specific valuation allowance, interest income recognized
Loans with a specific valuation allowance, average investment in impaired loans	2,266,000	2,610,000	2,308,000	2,680,000
Loans with a specific valuation allowance, interest income recognized
Total
Loans recorded balance	7,728,000		7,728,000		8,080,000
Loans unpaid principal	10,468,000		10,468,000		10,568,000
Valuation allowance	358,000		358,000		540,000
Loans average investment in impaired loans	7,928,000	2,684,000	8,001,000	2,754,000
Loans interest income recognized
Commercial Real Estate Portfolio Segment [Member]
Loans without a specific valuation allowance
Loans without a specific valuation allowance, recorded balance	246,000		246,000		1,241,000
Loans without a specific valuation allowance, unpaid principal	246,000		246,000		1,241,000
Loans with a specific valuation allowance, recorded balance
Loans with a specific valuation allowance, unpaid principal
Valuation allowance
Loans without a specific valuation allowance, average investment in impaired loans	525,000		863,000
Loans without a specific valuation allowance, interest income recognized
Loans with a specific valuation allowance, average investment in impaired loans
Loans with a specific valuation allowance, interest income recognized
Total
Loans recorded balance	246,000		246,000		1,241,000
Loans unpaid principal	246,000		246,000		1,241,000
Valuation allowance
Loans average investment in impaired loans	525,000		863,000
Loans interest income recognized
Commercial Portfolio Segment [Member]
Loans without a specific valuation allowance
Loans without a specific valuation allowance, recorded balance	717,000		717,000		1,538,000
Loans without a specific valuation allowance, unpaid principal	1,020,000		1,020,000		1,538,000
Loans with a specific valuation allowance, recorded balance	443,000		443,000		611,000
Loans with a specific valuation allowance, unpaid principal	592,000		592,000		914,000
Valuation allowance	342,000		342,000		312,000
Loans without a specific valuation allowance, average investment in impaired loans	872,000	327,000	1,112,000	332,000
Loans without a specific valuation allowance, interest income recognized
Loans with a specific valuation allowance, average investment in impaired loans	392,000	620,000	545,000	621,000
Loans with a specific valuation allowance, interest income recognized
Total
Loans recorded balance	1,160,000		1,160,000		2,149,000
Loans unpaid principal	1,612,000		1,612,000		2,452,000
Valuation allowance	342,000		342,000		312,000
Loans average investment in impaired loans	1,264,000	947,000	1,657,000	953,000
Loans interest income recognized
Consumer Portfolio Segment [Member] | Other Loans [Member]
Loans without a specific valuation allowance
Loans without a specific valuation allowance, recorded balance	261,000		261,000		904
Loans without a specific valuation allowance, unpaid principal	261,000		261,000		904,000
Loans with a specific valuation allowance, recorded balance	98,000		98,000		84,000
Loans with a specific valuation allowance, unpaid principal	98,000		98,000		84,000
Valuation allowance	17,000		17,000		13,000
Loans without a specific valuation allowance, average investment in impaired loans	128,000	16,000	78,000	13,000
Loans without a specific valuation allowance, interest income recognized	1,000		1,000
Loans with a specific valuation allowance, average investment in impaired loans	120,000	127,000	102,000	139,000
Loans with a specific valuation allowance, interest income recognized
Total
Loans recorded balance	359,000		359,000		988,000
Loans unpaid principal	359,000		359,000		988,000
Valuation allowance	17,000		17,000		13,000
Loans average investment in impaired loans	248,000	143,000	180,000	152,000
Loans interest income recognized	1,000		1,000
Valuation allowance	721,000		721,000		865,000
Loans recorded balance	11,654,000		11,654,000		14,730,000
Loans unpaid principal	14,846,000		14,846,000		17,521,000
Valuation allowance	721,000		721,000		$ 865,000
Loans average investment in impaired loans	12,181,000	$ 4,884,000	12,945,000	$ 5,044,000
Loans interest income recognized	$ 1,000		$ 1,000

Note 4 - Loans and Allowance 34

Note 4 - Loans and Allowance for Loan Losses - Troubled Debt Restructurings (Details) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Residential Portfolio Segment [Member] | One To Four Family Units [Member]
TDRs, carrying balance	$ 1,550,041	$ 1,556,964
Residential Portfolio Segment [Member] | Multi Family Units [Member]
TDRs, carrying balance
Residential Portfolio Segment [Member] | Construction Loans [Member]
TDRs, carrying balance	7,728,033	8,079,807
Commercial Real Estate Portfolio Segment [Member]
TDRs, carrying balance	161,491	161,491
Commercial Portfolio Segment [Member]
TDRs, carrying balance	633,592	1,442,476
Consumer Portfolio Segment [Member] | Other Loans [Member]
TDRs, carrying balance
TDRs, carrying balance	$ 10,073,157	$ 11,240,738

Note 4 - Loans and Allowance 35

Note 4 - Loans and Allowance for Loan Losses - Loan Portfolio By Credit Quality (Details) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Pass [Member] | Residential Portfolio Segment [Member] | Construction Loans [Member]
Rating:
Loans receivable	$ 45,622,000	$ 37,383,000
Pass [Member] | Residential Portfolio Segment [Member] | One To Four Family Units [Member]
Rating:
Loans receivable	99,152,000	91,267,000
Pass [Member] | Residential Portfolio Segment [Member] | Multi Family Units [Member]
Rating:
Loans receivable	36,895,000	41,604,000
Pass [Member] | Commercial Real Estate Portfolio Segment [Member]
Rating:
Loans receivable	214,407,000	198,230,000
Pass [Member] | Commercial Portfolio Segment [Member]
Rating:
Loans receivable	76,750,000	73,407,000
Pass [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Rating:
Loans receivable	23,270,000	21,775,000
Pass [Member]
Rating:
Loans receivable	496,096,000	463,666,000
Special Mention [Member] | Residential Portfolio Segment [Member] | Construction Loans [Member]
Rating:
Loans receivable
Special Mention [Member] | Residential Portfolio Segment [Member] | One To Four Family Units [Member]
Rating:
Loans receivable	2,941,000	3,319,000
Special Mention [Member] | Residential Portfolio Segment [Member] | Multi Family Units [Member]
Rating:
Loans receivable
Special Mention [Member] | Commercial Real Estate Portfolio Segment [Member]
Rating:
Loans receivable	5,928,000	3,657,000
Special Mention [Member] | Commercial Portfolio Segment [Member]
Rating:
Loans receivable	4,201,000	2,267,000
Special Mention [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Rating:
Loans receivable
Special Mention [Member]
Rating:
Loans receivable	13,070,000	9,243,000
Substandard [Member] | Residential Portfolio Segment [Member] | Construction Loans [Member]
Rating:
Loans receivable	7,728,000	8,080,000
Substandard [Member] | Residential Portfolio Segment [Member] | One To Four Family Units [Member]
Rating:
Loans receivable	3,521,000	3,671,000
Substandard [Member] | Residential Portfolio Segment [Member] | Multi Family Units [Member]
Rating:
Loans receivable
Substandard [Member] | Commercial Real Estate Portfolio Segment [Member]
Rating:
Loans receivable	2,406,000	6,937,000
Substandard [Member] | Commercial Portfolio Segment [Member]
Rating:
Loans receivable	1,541,000	4,730,000
Substandard [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Rating:
Loans receivable	478,000	217,000
Substandard [Member]
Rating:
Loans receivable	15,674,000	23,635,000
Doubtful [Member] | Residential Portfolio Segment [Member] | Construction Loans [Member]
Rating:
Loans receivable
Doubtful [Member] | Residential Portfolio Segment [Member] | One To Four Family Units [Member]
Rating:
Loans receivable
Doubtful [Member] | Residential Portfolio Segment [Member] | Multi Family Units [Member]
Rating:
Loans receivable
Doubtful [Member] | Commercial Real Estate Portfolio Segment [Member]
Rating:
Loans receivable
Doubtful [Member] | Commercial Portfolio Segment [Member]
Rating:
Loans receivable	620,000	603,000
Doubtful [Member] | Consumer Portfolio Segment [Member] | Other Loans [Member]
Rating:
Loans receivable
Doubtful [Member]
Rating:
Loans receivable	620,000	603,000
Residential Portfolio Segment [Member] | Construction Loans [Member]
Rating:
Loans receivable	53,350,379	45,462,895
Residential Portfolio Segment [Member] | One To Four Family Units [Member]
Rating:
Loans receivable	105,614,341	98,257,417
Residential Portfolio Segment [Member] | Multi Family Units [Member]
Rating:
Loans receivable	36,894,514	41,603,670
Commercial Real Estate Portfolio Segment [Member]
Rating:
Loans receivable	222,741,281	208,824,573
Commercial Portfolio Segment [Member]
Rating:
Loans receivable	83,112,278	81,006,897
Consumer Portfolio Segment [Member] | Other Loans [Member]
Rating:
Loans receivable	23,747,537	21,991,881
Loans receivable	$ 525,460,330	$ 497,147,333

Note 5 - Benefit Plans (Details

Note 5 - Benefit Plans (Details Textual) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Feb. 29, 2016	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2016	Jun. 30, 2015
Officer [Member] | Restricted Stock, Grant Date Market Price of $15.00 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period				14,593
Officer [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period				15,343
Restricted Stock or Unit Expense				$ 151,020
Share-based Compensation Arrangement by Share-based Payment Award Equity Instruments Other Than Options Cliff Vesting Period				3 years
Officer [Member] | Restricted Stock, Grant Date Market Price of $15.34 [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period					750
Director [Member] | Restricted Stock [Member] | 2015 Equity Plan [Member] | Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	1,167
Director [Member] | Restricted Stock [Member] | 2015 Equity Plan [Member] | Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	8,167
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year
Director [Member] | Restricted Stock [Member] | 2015 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	9,336
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value	$ 15
Restricted Stock or Unit Expense			$ 62,240
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period				24,679
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period				1,454
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value				$ 15.01
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized		$ 467,821		$ 467,821
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value				169,103
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value		430,880		430,880
Allocated Share-based Compensation Expense		$ 126,403		$ 213,260

Note 5 - Benefit Plans - Stock

Note 5 - Benefit Plans - Stock Option Activity (Details)	6 Months Ended
	Jun. 30, 2016$ / sharesshares
Incentive Stock Options [Member]
Balance outstanding as of January 1, 2016 (in shares)	91,500
Granted (in shares)
Exercised (in shares)	(11,500)
Forfeited (in shares)	(5,000)
Balance outstanding as of June 30, 2016 (in shares)	75,000
Options exercisable as of June 30, 2016 (in shares)	75,000
Non Incentive Stock Options [Member]
Balance outstanding as of January 1, 2016 (in shares)	57,500
Granted (in shares)
Exercised (in shares)	(5,000)
Forfeited (in shares)
Balance outstanding as of June 30, 2016 (in shares)	52,500
Options exercisable as of June 30, 2016 (in shares)	52,500
Balance outstanding as of January 1, 2016 (in dollars per share) | $ / shares	$ 19.58
Granted (in dollars per share) | $ / shares
Exercised (in dollars per share) | $ / shares	5.20
Forfeited (in dollars per share) | $ / shares	28.34
Balance outstanding as of June 30, 2016 (in dollars per share) | $ / shares	21.10
Options exercisable as of June 30, 2016 (in dollars per share) | $ / shares	$ 21.10

Note 5 - Benefit Plans - Restri

Note 5 - Benefit Plans - Restricted Stock (Details) - Restricted Stock [Member]	6 Months Ended
	Jun. 30, 2016$ / sharesshares
Balance of shares non-vested as of January 1, 2016 (in shares) | shares	43,477
Balance of shares non-vested as of January 1, 2016 (in dollars per share) | $ / shares	$ 12.75
Granted (in shares) | shares	24,679
Granted (in dollars per share) | $ / shares	$ 15.01
Vested (in shares) | shares	(1,454)
Vested (in dollars per share) | $ / shares	$ 15
Forfeited (in shares) | shares
Forfeited (in dollars per share) | $ / shares
Balance of shares non-vested as of June 30, 2016 (in shares) | shares	66,702
Balance of shares non-vested as of June 30, 2016 (in dollars per share) | $ / shares	$ 13.54

Note 6 - Income Per Common Sh39

Note 6 - Income Per Common Share (Details Textual) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Employee Stock Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	83,500	108,500	83,500	108,500

Note 6 - Income Per Common Sh40

Note 6 - Income Per Common Share - Income Per Share (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Basic Income Per Common Share	$ 1,256,152	$ 1,537,949	$ 2,532,757	$ 2,867,492
Basic Income Per Common Share (in shares)	4,366,507	4,334,288	4,363,375	4,324,811
Basic Income Per Common Share (in dollars per share)	$ 0.29	$ 0.35	$ 0.58	$ 0.66
Effect of Dilutive Securities (in shares)	53,977	54,038	52,028	56,405
Diluted Income Per Common Share	$ 1,256,152	$ 1,537,949	$ 2,532,757	$ 2,867,492
Diluted Income Per Common Share (in shares)	4,420,484	4,388,326	4,415,403	4,381,216
Diluted Income Per Common Share (in dollars per share)	$ 0.28	$ 0.35	$ 0.57	$ 0.65

Note 8 - Disclosures About Fa41

Note 8 - Disclosures About Fair Value of Assets and Liabilities - Fair Value of Assets Measured on Recurring Basis (Details) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Available-for-sale securities	$ 86,000	$ 99,000
Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Available-for-sale securities
Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Available-for-sale securities
Equity Securities [Member]
Available-for-sale securities	86,351	99,517
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Available-for-sale securities
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Available-for-sale securities	48,127,000	31,349,000
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Available-for-sale securities
US States and Political Subdivisions Debt Securities [Member]
Available-for-sale securities	48,126,854	31,349,162
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Available-for-sale securities
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Available-for-sale securities		8,397,000
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Available-for-sale securities
US Government Agencies Debt Securities [Member]
Available-for-sale securities		8,396,784
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Available-for-sale securities
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Available-for-sale securities	4,893,000	3,814,000
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Available-for-sale securities
Corporate Debt Securities [Member]
Available-for-sale securities	4,892,805	3,813,700
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 1 [Member]
Available-for-sale securities
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 2 [Member]
Available-for-sale securities	51,761,000	53,633,000
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member] | Fair Value, Inputs, Level 3 [Member]
Available-for-sale securities
Mortgage-backed Securities, Issued by US Government Sponsored Enterprises [Member]
Available-for-sale securities	51,760,527	53,633,324
Fair Value, Inputs, Level 1 [Member]
Available-for-sale securities	86,000	99,000
Fair Value, Inputs, Level 2 [Member]
Available-for-sale securities	104,781,000	97,193,000
Fair Value, Inputs, Level 3 [Member]
Available-for-sale securities
Available-for-sale securities	$ 104,866,537	$ 97,292,487

Note 8 - Disclosures About Fa42

Note 8 - Disclosures About Fair Value of Assets and Liabilities - Fair Value of Assets Measured on Non-recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Impaired Loans [Member] | Fair Value, Inputs, Level 1 [Member]
Assets measured at fair value on a nonrecurring basis
Impaired Loans [Member] | Fair Value, Inputs, Level 2 [Member]
Assets measured at fair value on a nonrecurring basis
Impaired Loans [Member] | Fair Value, Inputs, Level 3 [Member]
Assets measured at fair value on a nonrecurring basis	3,329	5,000
Impaired Loans [Member]
Assets measured at fair value on a nonrecurring basis	3,329	5,000
Foreclosed Assets Held For Sale [Member] | Fair Value, Inputs, Level 1 [Member]
Assets measured at fair value on a nonrecurring basis
Foreclosed Assets Held For Sale [Member] | Fair Value, Inputs, Level 2 [Member]
Assets measured at fair value on a nonrecurring basis
Foreclosed Assets Held For Sale [Member] | Fair Value, Inputs, Level 3 [Member]
Assets measured at fair value on a nonrecurring basis
Foreclosed Assets Held For Sale [Member]
Assets measured at fair value on a nonrecurring basis

Note 8 - Disclosures About Fa43

Note 8 - Disclosures About Fair Value of Assets and Liabilities - Fair Value Quantitative Information (Details) - Fair Value, Inputs, Level 3 [Member] - Market Approach Valuation Technique [Member] - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Impaired Loans [Member] | Minimum [Member]
Range	0.00%	0.00%
Weighted average	0.00%	0.00%
Impaired Loans [Member] | Maximum [Member]
Range	41.00%	23.00%
Weighted average	41.00%	23.00%
Impaired Loans [Member] | Weighted Average [Member]
Range	5.00%	4.00%
Weighted average	5.00%	4.00%
Impaired Loans [Member]
Assets, fair value	$ 3,329,000	$ 5,000
Valuation technique	Market Comparable	Market Comparable
Unobservable input	Discount to reflect realizable value	Discount to reflect realizable value
Foreclosed Assets Held For Sale [Member]
Valuation technique	Market Comparable
Unobservable input	Discount to reflect realizable value

Note 8 - Disclosures About Fa44

Note 8 - Disclosures About Fair Value of Assets and Liabilities - Fair Value of Financial Instruments (Details) - USD ($)	Jun. 30, 2016	Dec. 31, 2015	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Inputs, Level 1 [Member]
Financial assets:
Cash and cash equivalents	$ 9,798,780	$ 18,774,419
Cash and cash equivalents	9,798,780	18,774,419
Fair Value, Inputs, Level 2 [Member]
Financial assets:
Held-to-maturity securities	33,858	43,099
Held-to-maturity securities	34,702	43,935
Federal Home Loan Bank stock	3,919,000	2,837,500
Federal Home Loan Bank stock	3,919,000	2,837,500
Mortgage loans held for sale	1,977,683	1,902,933
Mortgage loans held for sale	1,977,683	1,902,933
Interest receivable	1,880,601	1,986,692
Financial liabilities:
Deposits	514,414,560	517,385,695
Deposits	504,216,146	511,225,380
Federal Home Loan Bank advances	78,400,000	52,100,000
Federal Home Loan Bank advances	78,821,920	53,227,960
Interest payable	198,173	196,102
Fair Value, Inputs, Level 3 [Member]
Financial assets:
Loans, net	518,948,805	491,001,907
Loans, net	517,815,050	495,207,798
Financial liabilities:
Subordinated debentures	15,465,000	15,465,000
Subordinated debentures	15,465,000	15,465,000
Cash and cash equivalents	9,798,780	18,774,419	$ 21,417,331	$ 12,493,890
Held-to-maturity securities	33,858	43,099
Federal Home Loan Bank stock	3,919,000	2,837,500
Mortgage loans held for sale	1,977,683	1,902,933
Loans, net	518,948,805	491,001,907
Deposits	514,414,560	517,385,695
Subordinated debentures	15,465,000	15,465,000
Interest payable	$ 198,173	$ 196,102