Carroll Bancorp (CROL) 10-Q 10 May 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 09, 2016
Entity Registrant Name	Carroll Bancorp, Inc.
Entity Central Index Key	1,515,069
Trading Symbol	crol
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)		978,306
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Statements of Fina

Consolidated Statements of Financial Condition (Current Period Unaudited) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Assets:
Cash and due from banks	$ 1,371,543	$ 1,583,914
Interest-bearing deposits with depository institutions	10,768,615	6,623,853
Cash and cash equivalents	12,140,158	8,207,767
Certificates of deposit with depository institutions	2,450,268	2,450,248
Securities available for sale, at fair value	4,707,844	4,812,384
Securities held to maturity (fair value March 31, 2016 $2,134,727 and December 31, 2015 $2,011,900)	2,105,667	2,005,775
Loans, net of allowance for loan losses - March 31, 2016 $938,000 and December 31, 2015 $901,000	128,114,540	128,433,411
Accrued interest receivable	407,761	403,535
Other equity securities, at cost	1,028,596	869,296
Bank-owned life insurance	2,121,806	2,107,770
Premises and equipment, net	1,345,353	1,303,648
Foreclosed assets	199,374	199,374
Other assets	517,203	544,059
Total assets	155,138,570	151,337,267
Deposits
Noninterest-bearing	9,510,881	8,718,993
Interest-bearing	111,357,829	113,382,169
Total deposits	120,868,710	122,101,162
Federal Home Loan Bank Advances	17,500,000	12,500,000
Other liabilities	363,193	442,935
Total liabilities	$ 138,731,903	$ 135,044,097
Stockholders' Equity:
Preferred Stock (par value $0.01); authorized 1,000,000 shares; no shares issued and outstanding
Common Stock (par value $0.01); authorized 9,000,000 shares; issued and outstanding 978,306 shares at March 31, 2016 and 978,279 shares at December 31, 2015	$ 9,783	$ 9,783
Additional paid-in capital	12,799,725	12,799,995
Unallocated ESOP shares	(261,088)	(261,088)
Unearned RSP shares	(131,713)	(144,599)
Retained earnings	3,956,425	3,886,581
Accumulated other comprehensive income	33,535	2,498
Total stockholders' equity	16,406,667	16,293,170
Total liabilities and stockholders' equity	$ 155,138,570	$ 151,337,267

Consolidated Statements of Fin3

Consolidated Statements of Financial Condition (Current Period Unaudited) (Parentheticals) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Securities held to maturity, fair value	$ 2,134,727	$ 2,011,900
Loans, allowance for loan losses	$ 938,000	$ 901,000
Preferred stock par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	9,000,000	9,000,000
Common stock, shares issued (in shares)	978,306	978,279
Common stock, shares outstanding (in shares)	978,306	978,279

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Interest income:
Loans	$ 1,386,634	$ 1,110,820
Securities available for sale	23,935	36,145
Securities held to maturity	25,272	13,228
Certificates of deposit	10,560	10,525
Interest-earning deposits	23,594	9,665
Total interest income	1,469,995	1,180,383
Interest expense:
Deposits	179,936	125,763
Borrowings	46,242	30,516
Total interest expense	226,178	156,279
Net interest income	1,243,817	1,024,104
Provision for loan losses	30,166	28,658
Net interest income after provision for loan losses	1,213,651	995,446
Non-interest income:
Loss on sale of securities	(1,061)	(100)
Gain on loans held for sale	28,063	2,187
Increase in cash surrender value - life insurance	14,035	13,890
Customer service fees	23,776	17,360
Loan fee income	11,691	6,392
Other income	3,536	4,396
Total non-interest income	80,040	44,125
Non-interest expense:
Salaries and employee benefits	676,923	547,846
Premises and equipment	131,934	85,590
Data processing	123,776	105,267
Professional fees	68,127	65,383
FDIC insurance	29,392	17,505
Directors' fees	54,800	53,800
Corporate insurance	11,908	10,068
Printing and office supplies	10,945	9,172
Other operating expenses	86,458	61,828
Total non-interest expenses	1,194,263	956,459
Income before income tax expense	99,428	83,112
Income tax expense	29,584	27,697
Net income	$ 69,844	$ 55,415
Basic earnings per share (in dollars per share)	$ 0.07	$ 0.07
Diluted earnings per share (in dollars per share)	$ 0.07	$ 0.07
Basic weighted average shares outstanding (in shares)	938,323	823,630
Diluted weighted average shares outstanding (in shares)	957,581	838,557

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net income	$ 69,844	$ 55,415
Net unrealized holding gains arising during the period	50,667	33,638
Less reclassification adjustment for loss on the sale of securities available for sale included in net income	(1,061)	(100)
Other comprehensive income,
before income tax	51,728	33,738
Income tax effect	20,691	13,495
Other comprehensive income, net of tax	31,037	20,243
Total comprehensive income	$ 100,881	$ 75,658

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Unallocated ESOP Shares [Member}	Unallocated RSP Shares [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance at Dec. 31, 2014	$ 4,884	$ 4,873,447	$ (285,447)	$ (170,217)	$ 6,317,654	$ 10,176	$ 10,750,497
Net income					$ 55,415		55,415
Other comprehensive income						$ 20,243	20,243
RSP compensation		$ 10,027					$ 10,027
Restricted stock vesting		(2,993)		$ 2,993
Balance at Mar. 31, 2015	$ 7,992	12,544,684	$ (285,447)	$ (167,224)	$ 3,671,587	$ 30,419	$ 15,802,011
Private placement offering:
Issuance of shares of common stock net of offering costs	$ 3,108	4,962,721					$ 4,965,829
Restricted stock vesting		(2,993)		$ 2,993
Stock dividend declared		2,701,482			$ (2,701,482)
Balance at Mar. 31, 2015	$ 7,992	12,544,684	$ (285,447)	$ (167,224)	3,671,587	$ 30,419	$ 15,802,011
Balance at Dec. 31, 2015	$ 9,783	$ 12,799,995	$ (261,088)	$ (144,599)	3,886,581	$ 2,498	16,293,170
Net income					$ 69,844		69,844
Other comprehensive income						$ 31,037	31,037
RSP compensation		$ 12,256					$ 12,256
Restricted stock vesting		(12,886)		$ 12,886
Warrants exercised		360					$ 360
Balance at Mar. 31, 2016	$ 9,783	12,799,725	$ (261,088)	$ (131,713)	$ 3,956,425	$ 33,535	$ 16,406,667
Private placement offering:
Restricted stock vesting		(12,886)		12,886
Balance at Mar. 31, 2016	$ 9,783	$ 12,799,725	$ (261,088)	$ (131,713)	$ 3,956,425	$ 33,535	$ 16,406,667

Consolidated Statements of Cha7

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals)	3 Months Ended
	Mar. 31, 2015shares
Common Stock [Member]
Issuance of shares of common stock (in shares)	310,848

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net income	$ 69,844	$ 55,415
Adjustments to reconcile net income to net cash provided by operating activities:
Loss on sale of securities available for sale	1,061	100
Gain on sale of loans held for sale	(28,063)	(2,187)
Origination of loans held for sale	(1,207,500)	(175,000)
Proceeds from sale of loans held for sale	1,235,563	177,187
Amortization and accretion of securities	12,818	31,558
Amortization of deferred loan costs, net of origination fees	45,165	7,126
Provision for loan losses	30,166	28,658
Loan loss recoveries	6,834	10,342
Depreciation of premises and equipment	45,949	39,190
Increase in cash surrender value of bank-owned life insurance	(14,035)	(13,890)
ESOP compensation expense	7,500	6,200
RSP compensation expense	12,256	10,027
Increase in deferred tax assets	(9,960)	(20,134)
(Increase) decrease in accrued interest receivable	(4,227)	837
Decrease (increase) in other assets	16,125	(150,584)
(Decrease) increase in other liabilities	(87,242)	20
Net cash provided by operating activities	132,254	$ 4,865
Cash flows from investing activities:
Purchase of securities held to maturity	(100,000)
Proceeds from sale or redemption of securities available for sale	15,000	$ 2,689,379
Principal collected on securities available for sale	127,478	401,687
Decrease (increase) in loans	236,705	(7,967,152)
Purchase of premises and equipment	(87,654)	(8,168)
Purchase of other equity securities	(159,300)	(51,200)
Net cash provided by (used in) investing activities	32,229	(4,935,454)
Cash flows from financing activities:
Decrease in deposits	(1,232,452)	(2,227,358)
Proceeds from FHLB advances	$ 5,000,000	3,000,000
Repayment of FHLB advances		$ (1,500,000)
Warrant exercise	$ 360
Proceeds from private placement offering		$ 4,965,829
Net cash provided by financing activities	$ 3,767,908	4,238,471
Net increase (decrease) in cash and cash equivalents	3,932,391	(692,118)
Cash and cash equivalents, beginning balance	8,207,767	6,909,391
Cash and cash equivalents, ending balance	12,140,158	6,217,273
Supplemental disclosure of cash flow information:
Interest paid	209,834	157,501
Income tax paid	$ 57,500	$ 44,000

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 1. Summary of Significant Accounting Policies Organization and Nature of Operations Carroll Bancorp, Inc. a Maryland corporation (the “Company”) was incorporated on February 18, 2011, to serve as the holding company for Carroll Community Bank (the “Bank”), a state chartered commercial bank. On October 12, 2011, in accordance with a plan of conversion adopted by its Board of Directors and approved by its members, the Bank converted from a Maryland chartered mutual savings bank to a state chartered commercial bank. The conversion was accomplished through formation of the Company to serve as the holding company of the Bank. The Company’s common stock is quoted on the OTC Pink marketplace of the OTC Markets Group under the symbol “CROL”. In accordance with applicable regulations at the time of the conversion from a mutual holding company to a stock holding company, the Bank substantially restricted its retained earnings by establishing a liquidation account. The liquidation account is maintained for the benefit of eligible account holders who keep their accounts at the Bank after conversion. The liquidation account is reduced annually to the extent that eligible account holders have reduced their qualifying deposits. Subsequent increases will not restore an eligible account holder’s interest in the liquidation account. In the event of a complete liquidation of the Bank, and only in such event, each account holder will be entitled to receive a distribution from the liquidation account in an amount proportionate to the adjusted qualifying account balances then held. The Bank may not pay dividends if those dividends would reduce equity capital below the required liquidation account amount. The Bank is headquartered in Sykesville, Maryland and is a community-oriented financial institution providing financial services to individuals, families and businesses through three banking offices. The Bank is subject to the regulation, examination and supervision by the State of Maryland Department of Licensing and Regulation and the Federal Deposit Insurance Corporation (“FDIC”), our deposit insurer. Its primary deposits are certificate of deposit, savings and demand accounts and its primary lending products are residential and commercial real estate loans. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, the Bank. All significant intercompany balances and transactions between the Company and the Bank have been eliminated. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reported period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for losses on loans and the valuation of real estate acquired in connection with foreclosure or in satisfaction of loans. In connection with the determination of the allowance for losses on loans and foreclosed real estate, management obtains independent appraisals for significant properties. Reclassifications Certain prior year amounts have been reclassified to conform to the current year method of presentation. Such reclassifications have no effect on net income. Accounting Standards Pending Adoption In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU No. 2016-02, Leases The Company is currently evaluating the provisions of ASU No. 2016-02 to determine the potential impact the new standard will have on the Company’s financial statements. In March 2016, the FASB issued ASU No. 2016-09, Compensati on—Stock Compensation : Improvements to Employee Share-Based Payment Accounting. The Company is currently evaluating the provisions of ASU No. 2016-09 to determine the potential impact the new standard will have on the Company’s financial statements. Other than the disclosures contained within these statements, the Company has determined that all other recently issued accounting pronouncements will not have a material impact on its consolidated financial statements or do not apply to its operations.

Note 2 - Securities

Note 2 - Securities	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	Note 2. Securities The amortized cost and fair value of securities available for sale and held to maturity at March 31, 2016 and December 31, 2015 are as follows: At March 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Securities available for sale: Residential mortgage-backed securities $ 2,411,436 $ 22,159 $ - $ 2,433,595 Commercial mortgage-backed securities 2,016,367 30,853 - 2,047,220 Municipal bonds 224,150 2,879 - 227,029 $ 4,651,953 $ 55,891 $ - $ 4,707,844 Securities held to maturity: Municipal bonds $ 500,000 $ 14,657 $ - $ 514,657 Corporate bonds 1,605,667 14,403 - 1,620,070 $ 2,105,667 $ 29,060 $ - $ 2,134,727 At December 31, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Securities available for sale: Residential mortgage-backed securities $ 2,549,295 $ 12,146 $ 8,818 $ 2,552,623 Commercial mortgage-backed securities 2,017,187 - - 2,017,187 Municipal bonds 241,739 2,503 1,668 242,574 $ 4,808,221 $ 14,649 $ 10,486 $ 4,812,384 Securities held to maturity: Municipal bonds $ 500,000 $ 9,470 $ - $ 509,470 Corporate bonds 1,505,775 250 3,595 1,502,430 $ 2,005,775 $ 9,720 $ 3,595 $ 2,011,900 The Bank had no private label residential mortgage-backed securities at March 31, 2016 and December 31, 2015 or during the three months or year then ended, respectively. At March 31, 2016 and December 31, 2015 the carrying amount of securities pledged as collateral for uninsured public fund deposits was $3.1 million and $2.3 million, respectively. The amortized cost and fair value of securities available for sale and held to maturity at March 31, 2016 and December 31, 2015, by contractual maturity, are shown below. Expected maturities for residential mortgage-backed securities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. At March 31, 2016 Securities available for sale Securities held to maturity Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Under 1 year $ - $ - $ - $ - Over 1 year through 5 years 2,365,830 2,400,153 - - After 5 years through 10 years 1,701,337 1,709,917 1,855,667 1,877,757 Over 10 years 584,786 597,774 250,000 256,970 $ 4,651,953 $ 4,707,844 $ 2,105,667 $ 2,134,727 At December 31, 2015 Securities available for sale Securities held to maturity Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Under 1 year $ - $ - $ - $ - Over 1 year through 5 years 378,316 379,770 - - After 5 years through 10 years 3,822,110 3,816,649 1,755,775 1,756,777 Over 10 years 607,795 615,965 250,000 255,123 $ 4,808,221 $ 4,812,384 $ 2,005,775 $ 2,011,900 The Bank sold or had called $15,000 and $2.7 million, respectively, in securities available for sale during the three months ended March 31, 2016 and 2015. From those sale transactions, the Bank realized a net loss of $1,061 and $100, respectively, for those periods. Securities with gross unrealized losses at March 31, 2016 and December 31, 2015, aggregated by investment category and length of time individual securities have been in a continual loss position, are as follows: At March 31, 2016 Less than 12 Months 12 Months or More Total Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses Securities available for sale: Residential mortgage-backed securities $ - $ - $ - $ - $ - $ - Municipal bonds - - - - - - $ - $ - $ - $ - $ - $ - Securities held to maturity: Corporate $ - $ - $ - $ - $ - $ - At December 31, 2015 Less than 12 Months 12 Months or More Total Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses Securities available for sale: Residential mortgage-backed securities $ 1,801,533 $ 8,818 $ - $ - $ 1,801,533 $ 8,818 Municipal bonds - - 78,916 1,668 78,916 1,668 $ 1,801,533 $ 8,818 $ 78,916 $ 1,668 $ 1,880,449 $ 10,486 Securities held to maturity: Corporate $ 652,180 $ 3,595 $ - $ - $ 652,180 $ 3,595

Note 3 - Loans

Note 3 - Loans	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	Note 3 . Loa ns Loans at March 31, 2016 and December 31, 2015 are summarized as follows: At March 31, 2016 At December 31, 2015 Percent Percent Balance of Total Balance of Total Residential owner occupied - first lien $ 41,450,859 32.3 % $ 44,890,154 34.9 % Residential owner occupied - junior lien 4,539,288 3.5 % 4,988,405 3.9 % Residential non-owner occupied (investor) 15,792,947 12.3 % 15,849,835 12.3 % Commercial owner occupied 14,270,230 11.1 % 14,717,990 11.4 % Other commercial loans 52,109,025 40.6 % 47,883,818 37.2 % Consumer loans 301,599 0.2 % 376,070 0.3 % Total loans 128,463,948 100.0 % 128,706,272 100.0 % Net deferred fees, costs and purchase premiums 588,592 628,139 Allowance for loan losses (938,000 ) (901,000 ) Total loans, net $ 128,114,540 $ 128,433,411 Our residential one- to four-family first lien mortgage loan portfolio is pledged as collateral for our advances with the Federal Home Loan Bank of Atlanta (“FHLB”).

Note 4 - Credit Quality of Loan

Note 4 - Credit Quality of Loans and Allowance for Loan Losses	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Allowance for Credit Losses [Text Block]	Note 4 . Credit Quality of Loans and Allowance for Loan Losses Company policies, consistent with regulatory guidelines, provide for the classification of loans that are considered to be of lesser quality as substandard, doubtful, or loss. A loan is considered substandard if it is inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard loans include those loans characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Loans classified as doubtful have all of the weaknesses inherent in those classified substandard with the added characteristic that the weaknesses present make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Loans (or portions of loans) classified as loss are those considered uncollectible and of such little value that their continuance as assets is not warranted. Loans that do not expose us to risk sufficient to warrant classification in one of the aforementioned categories, but which possess potential weaknesses that deserve our close attention, are required to be designated as special mention. The Company maintains an allowance for loan losses at an amount estimated to equal all credit losses incurred in our loan portfolio that are both probable and reasonable to estimate at a balance sheet date. Our determination as to the classification of our assets is subject to review by the Maryland Commissioner of Financial Regulation and the FDIC. We regularly review our asset portfolio to determine whether any assets require classification in accordance with applicable regulations. The Company provides for loan losses based upon the consistent application of our documented allowance for loan loss methodology. All loan losses are charged to the allowance for loan losses and all recoveries are credited to it. Additions to the allowance for loan losses are provided by charges to income based on various factors which, in our judgment, deserve current recognition in estimating probable losses. We regularly review the loan portfolio and make provisions for loan losses in order to maintain the allowance for loan losses in accordance with GAAP. The allowance for loan losses consists primarily of two components: 1) specific allowances are established for loans classified as substandard or doubtful. For loans classified as impaired, the allowance is established when the net realizable value (collateral value less costs to sell) of the loan is lower than the carrying amount of the loan. The amount of impairment provided for as a specific allowance is represented by the deficiency, if any, between the underlying collateral value and the carrying value of the loan. Impaired loans for which the estimated fair value of the loan, or the loan’s observable market price or the fair value of the underlying collateral, if the loan is collateral dependent, exceeds the carrying value of the loan are not considered in establishing specific allowances for loan losses; and 2) general allowances are established for loan losses on a portfolio basis for loans that do not meet the definition of impaired loans. The portfolio is grouped into similar risk characteristics, primarily loan type and regulatory classification. We apply an estimated loss rate to each loan group. The loss rates applied are based upon our loss experience adjusted, as appropriate, for the qualitative factors discussed below. This evaluation is inherently subjective, as it requires material estimates that may be susceptible to significant revisions based upon changes in economic and real estate market conditions. The allowance for loan losses is maintained at a level to provide for losses that are probable and can be reasonably estimated. Management’s periodic evaluation of the adequacy of the allowance is based on the Company’s past loan loss experience, known and inherent losses in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, composition of the loan portfolio, current economic conditions and other relevant factors. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant change, including the amounts and timing of future cash flows expected to be received on impaired loans. The adjustments to historical loss experience are based on our evaluation of several qualitative factors, including: ● changes in the types of loans in the loan portfolio and the size of the overall portfolio; ● changes in the levels of concentration of credit; ● changes in the number and amount of non-accrual loans, classified loans, past due loans and troubled debt restructurings and other loan modifications; ● changes in the experience, ability and depth of lending personnel; ● changes in the quality of the loan review system and the degree of Board oversight; ● changes in lending policies and procedures; ● changes in national, state and local economic trends and business conditions; and ● changes in external factors such as competition and legal and regulatory oversight. A loan is considered past due or delinquent when a contractual payment is not paid on the day it is due. 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 for all loans secured by real estate by the fair value of the collateral if the loan is collateral dependent. The Bank’s charge-off policy states after all collection efforts have been exhausted, the loan is deemed to be a loss and the loss amount has been determined, the loss amount will be charged to the established allowance for loan losses. Loans secured by real estate, either residential or commercial, are evaluated for loss potential at the 60 day past due threshold. At no later than 90 days past due the loan is placed on nonaccrual status and a specific reserve is established if the net realizable value in less than the principal value of the loan balance(s). Once the actual loss value has been determined, a charge-off to the allowance for loan losses for the amount of the loss is taken. Each loss is evaluated on its specific facts regarding the appropriate timing to recognize the loss. Unsecured loans are charged-off to the allowance for loan losses at the 90 day past due threshold or when an actual loss has been determined whichever is earlier. We evaluate the allowance for loan losses based upon the combined total of the specific and general components. Generally when the loan portfolio increases, absent other factors, the allowance for loan loss methodology results in a higher dollar amount of estimated probable losses than would be the case without the increase. Generally when the loan portfolio decreases, absent other factors, the allowance for loan loss methodology results in a lower dollar amount of estimated probable losses than would be the case without the decrease. Commercial real estate loans generally have greater credit risks compared to one- to four-family residential mortgage loans we originate, as they typically involve larger loan balances concentrated with single borrowers or groups of related borrowers. In addition, the payment experience on loans secured by income-producing properties typically depends on the successful operation of the related business and thus may be subject to a greater extent to adverse conditions in the real estate market and in the general economy. Therefore, we expect that the percentage of the allowance for loan losses as a percentage of the loan portfolio will increase going forward as we continue our focus on the origination of commercial real estate loans. The following tables summarize the activity in the allowance for loan losses by portfolio segment for the three months ended March 31, 2016 and 2015. For the Three Months Ended March 31, 2016 Residential owner occupied - first lien Residential owner occupied - junior lien Residential non-owner occupied (investor) Commercial owner occupied Other commercial loans Consumer loans Total Beginning balance $ 206,169 $ 21,450 $ 69,898 $ 117,744 $ 485,739 $ - $ 901,000 Charge-offs - - - - - - - Recoveries 6,834 - - - - - 6,834 Provision (49,265 ) (1,568 ) 46,655 (3,582 ) 37,926 - 30,166 Ending Balance $ 163,738 $ 19,882 $ 116,553 $ 114,162 $ 523,665 $ - $ 938,000 For the Three Months Ended March 31, 2015 Residential owner occupied - first lien Residential owner occupied - junior lien Residential non-owner occupied (investor) Commercial owner occupied Other commercial loans Consumer loans Total Beginning balance $ 228,461 $ 25,051 $ 46,047 $ 89,811 $ 332,630 $ - $ 722,000 Charge-offs - - - - - - - Recoveries 7,785 - 2,557 - - - 10,342 Provision (40,661 ) (2,885 ) (2,839 ) 10,009 65,034 - 28,658 Ending Balance $ 195,585 $ 22,166 $ 45,765 $ 99,820 $ 397,664 $ - $ 761,000 The following tables set forth the balance of the allowance for loan losses by portfolio segment, disaggregated by impairment methodology, which is then further segregated by amounts evaluated for impairment collectively and individually at March 31, 2016 and December 31, 2015: At March 31, 2016 Residential owner occupied - first lien Residential owner occupied - junior lien Residential non-owner occupied (investor) Commercial owner occupied Other commercial loans Consumer loans Total Allowance for loan losses: Ending balance $ 163,738 $ 19,882 $ 116,553 $ 114,162 $ 523,665 $ - $ 938,000 Ending balance individually evaluated for impairment $ - $ - $ 55,220 $ - $ - $ - $ 55,220 Ending balance collectively evaluated for impairment $ 163,738 $ 19,882 $ 61,333 $ 114,162 $ 523,665 $ - $ 882,780 Loans: Ending balance $ 41,450,859 $ 4,539,288 $ 15,792,947 $ 14,270,230 $ 52,109,025 $ 301,599 $ 128,463,948 Ending balance individually evaluated for impairment $ - $ - $ 250,540 $ - $ - $ - $ 250,540 Ending balance collectively evaluated for impairment $ 41,450,859 $ 4,539,288 $ 15,542,407 $ 14,270,230 $ 52,109,025 $ 301,599 $ 128,213,408 At December 31, 2015 Residential owner occupied - first lien Residential owner occupied - junior lien Residential non-owner occupied (investor) Commercial owner occupied Other commercial loans Consumer loans Total Allowance for loan losses: Ending balance $ 206,169 $ 21,450 $ 69,898 $ 117,744 $ 485,739 $ - $ 901,000 Ending balance individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - Ending balance collectively evaluated for impairment $ 206,169 $ 21,450 $ 69,898 $ 117,744 $ 485,739 $ - $ 901,000 Loans: Ending balance $ 44,890,154 $ 4,988,405 $ 15,849,835 $ 14,717,990 $ 47,883,818 $ 376,070 $ 128,706,272 Ending balance individually evaluated for impairment $ - $ - $ 108,188 $ - $ - $ - $ 108,188 Ending balance collectively evaluated for impairment $ 44,890,154 $ 4,988,405 $ 15,741,647 $ 14,717,990 $ 47,883,818 $ 376,070 $ 128,598,084 The allowance for loan losses allocated to each portfolio segment is not necessarily indicative of future losses in any particular portfolio segment and does not restrict the use of the allowance to absorb losses in other portfolio segments. The following tables are a summary of the loan portfolio quality indicators by portfolio segment at March 31, 2016 and December 31, 2015: At March 31, 2016 Residential owner occupied - first lien Residential owner occupied - junior lien Residential non-owner occupied (investor) Commercial owner occupied Other commercial loans Consumer loans Total Pass $ 41,423,300 $ 4,539,288 $ 15,081,612 $ 14,270,230 $ 50,309,025 $ 301,599 $ 125,925,054 Special Mention - - - - 1,800,000 - 1,800,000 Substandard 27,559 - 711,335 - - - 738,894 Doubtful - - - - - - - Total $ 41,450,859 $ 4,539,288 $ 15,792,947 $ 14,270,230 $ 52,109,025 $ 301,599 $ 128,463,948 At December 31, 2015 Residential owner occupied - first lien Residential owner occupied - junior lien Residential non-owner occupied (investor) Commercial owner occupied Other commercial loans Consumer loans Total Pass $ 44,890,154 $ 4,988,405 $ 15,252,037 $ 14,717,990 $ 47,883,818 $ 376,070 $ 128,108,474 Special Mention - - - - - - - Substandard - - 597,798 - - - 597,798 Doubtful - - - - - - - Total $ 44,890,154 $ 4,988,405 $ 15,849,835 $ 14,717,990 $ 47,883,818 $ 376,070 $ 128,706,272 During the first quarter of 2016, a loan for $1.8 million was downgraded to Special Mention due to the borrower’s inability to complete the project without additional funding. While there is a temporary heightened level of risk, the market conditions and collateral coverage remain satisfactory. Management uses a ten point internal risk rating system to monitor the credit quality of the overall loan portfolio. The first six categories are considered not criticized and are aggregated as a “Pass” rating. ● Pass (risk ratings 1-6) ● Special M ention (risk rating 7) ● Substandard (risk rating 8) ● Doubtful (risk rating 9) ● Loss (risk rating 10) Loans classified special mention, substandard, doubtful or loss are reviewed at least quarterly to determine their appropriate classification. Non-classified commercial loan relationships greater than $50,000 are reviewed annually. Non-classified residential mortgage loans and consumer loans are not evaluated unless a specific event occurs to raise the awareness of possible credit deterioration. The following tables set forth certain information with respect to our loan delinquencies by portfolio segment at March 31, 2016 and December 31, 2015: At March 31, 2016 Residential owner occupied - first lien Residential owner occupied - junior lien Residential non-owner occupied (investor) Commercial owner occupied Other commercial loans Consumer loans Total Current $ 40,813,665 $ 4,539,288 $ 15,300,112 $ 14,270,230 $ 51,549,639 $ 301,599 $ 126,774,533 30-59 days past due 637,194 - 385,374 - 559,386 - 1,581,954 60-89 days past due - - 107,461 - - - 107,461 Greater than 90 days past due - - - - - - - Total past due 637,194 - 492,835 - 559,386 - 1,689,415 Total $ 41,450,859 $ 4,539,288 $ 15,792,947 $ 14,270,230 $ 52,109,025 $ 301,599 $ 128,463,948 At December 31, 2015 Residential owner occupied - first lien Residential owner occupied - junior lien Residential non-owner occupied (investor) Commercial owner occupied Other commercial loans Consumer loans Total Current $ 44,522,124 $ 4,988,405 $ 15,731,641 $ 14,717,990 $ 46,621,559 $ 376,070 $ 126,957,789 30-59 days past due 122,300 - 118,194 - 1,262,259 - 1,502,753 60-89 days past due 245,730 - - - - - 245,730 Greater than 90 days past due - - - - - - - Total past due 368,030 - 118,194 - 1,262,259 - 1,748,483 Total $ 44,890,154 $ 4,988,405 $ 15,849,835 $ 14,717,990 $ 47,883,818 $ 376,070 $ 128,706,272 The following tables are a summary of impaired loans by portfolio segment at March 31, 2016 and December 31, 2015: At March 31, 2016 Impaired Loans: Residential owner occupied - first lien Residential owner occupied - junior lien Residential non-owner occupied (investor) Commercial owner occupied Other commercial loans Consumer loans Total With no related allowance recorded: Recorded Investment $ 27,559 $ - $ 107,461 $ - $ - $ - $ 135,020 Unpaid Principal Balance 27,559 - 107,461 - - - 135,020 With an allowance recorded: Recorded Investment $ - $ - $ 115,520 $ - $ - $ - $ 115,520 Unpaid Principal Balance - - 117,737 - - - 117,737 Related Allowance - - 55,220 - - - 55,220 Total impaired loans: Recorded Investment $ 27,559 $ - $ 222,981 $ - $ - $ - $ 250,540 Unpaid Principal Balance 27,559 - 225,198 - - - 252,757 Related Allowance - - 55,220 - - - 55,220 At December 31, 2015 Impaired Loans: Residential owner occupied - first lien Residential owner occupied - junior lien Residential non-owner occupied (investor) Commercial owner occupied Other commercial loans Consumer loans Total With no related allowance recorded: Recorded Investment $ - $ - $ 108,188 $ - $ - $ - $ 108,188 Unpaid Principal Balance - - 108,188 - - - 108,188 With an allowance recorded: Recorded Investment $ - $ - $ - $ - $ - $ - $ - Unpaid Principal Balance - - - - - - - Related Allowance - - - - - - - Total impaired loans: Recorded Investment $ - $ - $ 108,188 $ - $ - $ - $ 108,188 Unpaid Principal Balance - - 108,188 - - - 108,188 Related Allowance - - - - - - - The following tables present by portfolio segment, information related to the average recorded investment and the interest income foregone and recognized on impaired loans for the three months ended March 31, 2016 and 2015: For the Three Months Ended March 31, 2016 Residential owner occupied - first lien Residential owner occupied - junior lien Residential non-owner occupied (investor) Commercial owner occupied Other commercial loans Consumer loans Total With no related allowance recorded: Average recorded investment $ 13,780 $ - $ 107,825 $ - $ - $ - $ 121,605 Interest income that would have been recognized 349 - - - - - 349 Interest income recognized (cash basis) - - - - - - - Interest income foregone (recovered) 349 - - - - - 349 With an allowance recorded: Average recorded investment $ - $ - $ 57,760 $ - $ - $ - $ 57,760 Interest income that would have been recognized - - 2,137 - - - 2,137 Interest income recognized (cash basis) - - - - - - - Interest income foregone (recovered) - - 2,137 - - - 2,137 Total impaired loans: Average recorded investment $ 13,780 $ - $ 165,585 $ - $ - $ - $ 179,365 Interest income that would have been recognized 349 - 2,137 - - - 2,486 Interest income recognized (cash basis) - - - - - - - Interest income foregone (recovered) 349 - 2,137 - - - 2,486 For the Three Months Ended March 31, 2015 Residential owner occupied - first lien Residential owner occupied - junior lien Residential non-owner occupied (investor) Commercial owner occupied Other commercial loans Consumer loans Total With no related allowance recorded: Average recorded investment $ 308,010 $ 4,709 $ 114,976 $ - $ - $ - $ 427,695 Interest income that would have been recognized 5,612 98 - - - - 5,710 Interest income recognized (cash basis) 18,898 611 - - - - 19,509 Interest income foregone (recovered) (13,286 ) (513 ) - - - - (13,799 ) With an allowance recorded: Average recorded investment $ - $ - $ - $ - $ - $ - $ - Interest income that would have been recognized - - - - - - - Interest income recognized (cash basis) - - - - - - - Interest income foregone (recovered) - - - - - - - Total impaired loans: Average recorded investment $ 308,010 $ 4,709 $ 114,976 $ - $ - $ - $ 427,695 Interest income that would have been recognized 5,612 98 - - - - 5,710 Interest income recognized (cash basis) 18,898 611 - - - - 19,509 Interest income foregone (recovered) (13,286 ) (513 ) - - - - (13,799 ) The following table is a summary of performing and nonperforming impaired loans by portfolio segment at March 31, 2016 and December 31, 2015: At March 31, At December 31, 2016 2015 Performing loans: Impaired performing loans: Residential owner occupied - first lien $ - $ - Residential owner occupied - junior lien - - Residential non-owner occupied (investor) - - Commercial owner occupied - - Other commercial loans - - Consumer loans - - Troubled debt restructurings: Residential owner occupied - first lien - - Residential owner occupied - junior lien - - Residential non-owner occupied (investor) 107,461 108,188 Commercial owner occupied - - Other commercial loans - - Consumer loans - - Total impaired performing loans 107,461 108,188 Nonperforming loans: Impaired nonperforming loans (nonaccrual): Residential owner occupied - first lien 27,559 - Residential owner occupied - junior lien - - Residential non-owner occupied (investor) 115,520 - Commercial owner occupied - - Other commercial loans - - Consumer loans - - Troubled debt restructurings: Residential owner occupied - first lien - - Residential owner occupied - junior lien - - Residential non-owner occupied (investor) - - Commercial owner occupied - - Other commercial loans - - Consumer loans - - Total impaired nonperforming loans (nonaccrual): 143,079 - Total impaired loans $ 250,540 $ 108,188 Troubled debt restructurings If a restructured loan was nonperforming prior to the restructuring, the restructured loan will remain a nonperforming loan. After a period of six months and if the restructured loan is in compliance with its modified terms, the loan will become a performing loan. If a restructured loan was performing prior to the restructuring, the restructured loan will remain a performing loan. A performing TDR will no longer be reported as a TDR in calendar years after the year of the restructuring if the effective interest rate is equal or greater than the market rate for credits with comparable risk. There were no TDRs modified during the three months ended March 31, 2016 or the year ended December 31, 2015.

Note 5 - Deposits

Note 5 - Deposits	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Deposit Liabilities Disclosures [Text Block]	Note 5. Deposits Deposits were comprised of the following at March 31, 2016 and December 31, 2015: At March 31, 2016 At December 31, 2015 Balance Percent of Total Balance Percent of Total Non-interest bearing checking $ 9,510,881 7.9 % $ 8,718,993 7.1 % Interest-bearing checking 10,313,782 8.5 % 8,098,550 6.6 % Savings 3,429,246 2.8 % 2,512,638 2.1 % Premium savings 20,623,731 17.1 % 20,619,758 16.9 % IRA savings 6,087,296 5.0 % 6,325,231 5.2 % Money market 11,613,039 9.6 % 11,892,738 9.7 % Certificates of deposit 59,290,735 49.1 % 63,933,254 52.4 % Total deposits $ 120,868,710 100.0 % $ 122,101,162 100.0 % Certificates of deposit scheduled maturities are as follows: At March 31, 2016 At December 31, 2015 Period to Maturity: Less than or equal to one year $ 30,283,394 $ 36,634,331 More than one to two years 15,002,187 13,245,022 More than two to three years 8,291,803 8,965,734 More than three to four years 1,270,730 1,798,769 More than four to five years 4,442,621 3,289,398 Total certificates of deposit $ 59,290,735 $ 63,933,254 Certificates of deposit included $19.6 million and $27.8 million, respectively, of brokered and listing service deposits at March 31, 2016 and December 31, 2015. Deposit accounts in the Bank are insured by the FDIC, generally up to a maximum of $250,000 per separately insured depositor.

Note 6 - Fair Value Measurement

Note 6 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 6 . Fair Value Measurements The FASB issued Accounting Standards Codification (“ASC”) Topic 825 “Financial Instruments,” which provides guidance on the fair value option for financial assets and liabilities. This guidance permits entities to measure many financial instruments and certain other items at fair value. The objective is to improve financial reporting by providing entities with the opportunity to mitigate volatility in reported earnings caused by measuring related assets and liabilities differently without having to apply complex hedge accounting provisions. The election to use the fair value option is available when an entity first recognizes a financial asset or financial liability or upon entering into a commitment. Subsequent changes must be recorded in earnings. Simultaneously with the adoption of ASC 825, the Bank adopted ASC 820, Fair Value Measurement. Level 1 Level 2 Level 3 A financial instrument’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The types of instruments valued based on quoted market prices in active markets include most U.S. government and agency securities, liquid mortgage products, active listed equities and most money market securities. Such instruments are generally classified within Level 1 or Level 2 of the fair value hierarchy. As required by ASC 820, the Bank does not adjust the quoted price for such instruments. The types of instruments valued based on quoted prices in markets that are not active, broker or dealer quotations, or alternative pricing sources with reasonable levels of price transparency include most investment-grade and high-yield corporate bonds, less liquid mortgage products, less liquid equities, state, municipal and provincial obligations, and certain physical commodities. Such instruments are generally classified within Level 2 of the fair value hierarchy. Level 3 is for positions that are not traded in active markets or are subject to transfer restrictions, valuations are adjusted to reflect illiquidity and/or non-transferability, and such adjustments are generally based on available market evidence. In the absence of such evidence, management’s best estimate is used. Impaired loans are evaluated and valued at the time the loan is identified as impaired, at the lower of cost or market value. Market value is measured based on the value of the collateral securing these loans and is classified within Level 3 in the fair value hierarchy. Collateral may be real estate and/or business assets including equipment, inventory and/or accounts receivable. The value of real estate collateral is determined based on an appraisal by qualified licensed appraisers hired by the Bank. The value of business equipment, inventory and accounts receivable collateral is based on the net book value on the business’ financial statements and, if necessary, discounted based on management’s review and analysis. Appraised and reported values may be discounted based on management’s historical knowledge, changes in market conditions from the time of valuation, and/or management’s expertise and knowledge of the client and client’s business. Impaired loans are reviewed and evaluated on at least a quarterly basis for additional impairment and are adjusted accordingly, based on the same factors identified above. Foreclosed assets are adjusted for fair value upon transfer of loans to foreclosed assets. Subsequently, foreclosed assets are carried at the lower of carrying value or fair value. Fair value is based upon independent market prices, appraised value of the collateral or management’s estimation of the value of the collateral. When the fair value of the collateral is based on an observable market price or a current appraised value, the Bank records the foreclosed asset as nonrecurring Level 2. When an appraised value is not available or management determines the fair value of the collateral is further impaired below the appraised value and there is no observable market prices, the Bank records the foreclosed asset as nonrecurring Level 3. The following table presents a summary of financial assets measured at fair value on a recurring basis at March 31, 2016 and December 31, 2015: At March 31, 2016 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Carrying Value Level 1 Level 2 Level 3 Residential mortgage-backed securities $ 2,433,595 $ - $ 2,433,595 $ - Commercial mortgage-backed securities 2,047,220 - 2,047,220 - Municipal bonds 227,029 - 227,029 - Total securities available for sale $ 4,707,844 $ - $ 4,707,844 $ - At December 31, 2015 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Carrying Value Level 1 Level 2 Level 3 Residential mortgage-backed securities $ 2,552,623 $ - $ 2,552,623 $ - Commercial mortgage-backed securities 2,017,187 - 2,017,187 - Municipal bonds 242,574 - 242,574 - Total securities available for sale $ 4,812,384 $ - $ 4,812,384 $ - The following table presents a summary of financial assets measured at fair value on a non-recurring basis at March 31, 2016 and December 31, 2015: At March 31, 2016 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Carrying Value Level 1 Level 2 Level 3 Residential non-owner occupied (investor) $ 250,540 $ - $ - $ 250,540 Total impaired loans $ 250,540 $ - $ - $ 250,540 Residential owner occupied - first lien $ 199,374 $ - $ - $ 199,374 Total foreclosed real estate $ 199,374 $ - $ - $ 199,374 At December 31, 2015 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Carrying Value Level 1 Level 2 Level 3 Residential non-owner occupied (investor) $ 108,188 $ - $ - $ 108,188 Total impaired loans $ 108,188 $ - $ - $ 108,188 Residential owner occupied - first lien $ 199,374 $ - $ - $ 199,374 Total foreclosed real estate $ 199,374 $ - $ - $ 199,374 The following table shows a reconciliation of the beginning and ending balances for Level 3 assets: Impaired Loans Foreclosed Real Estate Balance, January 1, 2015 $ 595,070 $ 52,964 Total realized and unrealized gains (losses): Included in net income - - Settlements (253,803 ) - Transfers in and/or out of Level 3 (233,079 ) 146,410 Balance, December 31, 2015 $ 108,188 $ 199,374 Total realized and unrealized gains (losses): Included in net income - - Settlements (2,944 ) - Transfers in and/or out of Level 3 145,296 - Balance, March 31, 2016 $ 250,540 $ 199,374 The methods and assumptions used to estimate the fair values, including items in the above tables, are included in the disclosures that follow. Certificates of Deposit with Depository Institutions (Carried at Cost ) Securities Available for Sale (Carried at Fair Value). Loans, Net of Allowance for Loan Losses (Carried at Cost). Foreclosed Assets (Carried at Lower of Cost or Fair Value Less Estimated Selling Costs). Bank-Owned Life Insurance (Carried at Surre nder Value ). Other Equity Securities (Carried at Cost). Deposits (Carried at Cost). Federal Home Loan Bank Advances (Carried at Cost). Off- Balance Sheet Financial Instruments (Disclosures at Cost). The estimated fair values of the Company’s financial instruments were as follows at the dates indicated: At March 31, 2016 Carrying Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Amount Fair Value Level 1 Level 2 Level 3 Financial instruments - assets: Certificates of deposit with depository institutions $ 2,450,268 $ 2,450,268 $ - $ 2,450,268 $ - Securities available for sale 4,707,844 4,707,844 - 4,707,844 - Securities held to maturity 2,105,667 2,134,727 - 2,134,727 - Loans, net of allowance for loan losses 128,114,540 128,743,000 - - 128,743,000 Bank-owned life insurance 2,121,806 2,121,806 - 2,121,806 - Other equity securities 1,028,596 1,028,596 - - 1,028,596 Financial instruments - liabilities: Deposits $ 120,868,710 $ 120,900,000 $ - $ 120,900,000 $ - Federal Home Loan Bank advances 17,500,000 17,662,000 - 17,662,000 - Financial instruments - off-balance sheet $ - $ - $ - $ - $ - At December 31, 2015 Carrying Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Amount Fair Value Level 1 Level 2 Level 3 Financial instruments - assets: Certificates of deposit with depository institutions $ 2,450,248 $ 2,450,248 $ - $ 2,450,248 $ - Securities available for sale 4,812,384 4,812,384 - 4,812,384 - Securities held to maturity 2,005,775 2,011,900 - 2,011,900 - Loans, net of allowance for loan losses 128,433,411 129,910,000 - - 129,910,000 Bank-owned life insurance 2,107,770 2,107,770 - 2,107,770 - Other equity securities 869,296 869,296 - - 869,296 Financial instruments - liabilities: Deposits $ 122,101,162 $ 121,806,000 $ - $ 121,806,000 $ - Federal Home Loan Bank advances 12,500,000 12,616,000 - 12,616,000 - Financial instruments - off-balance sheet $ - $ - $ - $ - $ -

Note 7 - Capital Requirements a

Note 7 - Capital Requirements and Regulatory Matters	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Regulatory Capital Requirements under Banking Regulations [Text Block]	Note 7 . Capital Requirements and Regulatory Matters Federal and state banking regulations place certain restrictions on dividends paid to the Company by the Bank, and loans or advances made by the Bank to the Company. For a Maryland chartered bank, dividends may be paid out of undivided profits or, with the prior approval of the Maryland Commissioner of Financial Regulation, from surplus in excess of 100% of required capital stock. If, however, the surplus of a Maryland bank is less than 100% of its required capital stock, cash dividends may not be paid in excess of 90% of net earnings. Loans and advances are limited to 10% of the Bank’s capital and surplus on a secured basis. In addition, the payment of dividends by the Bank would be prohibited if the effect thereof would cause the Bank’s capital to be reduced below minimum capital requirements. The Company’s ability to pay dividends is dependent on the Bank’s ability to pay dividends to the Company. The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of its assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the following table) of total, tier I and common equity tier 1 capital to risk weighted assets, tier 1 leverage to average assets and tangible capital to tangible assets. Management believes, as of March 31, 2016, the Bank met all capital adequacy requirements to which it is subject. As of September 2015, the most recent notification from the Bank’s regulators, the Bank was categorized as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, an institution must maintain minimum ratios as set forth in the following table. There are no conditions or events since the notification that management believes have changed the Bank’s category. The Bank’s actual capital amounts and ratios at March 31, 2016 and December 31, 2015 are presented in the table below: At March 31, 2016 Actual For Capital Adequacy Purposes To be well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio Total capital to risk-weighted assets $ 16,701,769 15.8 % $ 8,450,263 8.0 % $ 10,562,829 10.0 % Tier 1 capital to risk-weighted assets 15,763,769 14.9 % 6,337,697 6.0 % 8,450,263 8.0 % Common equity tier 1 capital to risk-weighted assets 15,763,769 14.9 % 4,753,273 4.5 % 6,865,839 6.5 % Tier 1 leverage to average assets 15,763,769 10.3 % 6,136,531 4.0 % 7,670,664 5.0 % Tangible capital to tangible assets 15,797,304 10.2 % N/A N/A N/A N/A At December 31, 2015 Actual For Capital Adequacy Purposes To be well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio Total capital to risk-weighted assets $ 16,584,390 16.0 % $ 8,301,696 8.0 % $ 10,377,120 10.0 % Tier 1 capital to risk-weighted assets 15,683,390 15.1 % 6,226,272 6.0 % 8,301,696 8.0 % Common equity tier 1 capital to risk-weighted assets 15,683,390 15.1 % 4,669,704 4.5 % 6,745,128 6.5 % Tier 1 leverage to average assets 15,683,390 10.0 % 6,304,897 4.0 % 7,881,122 5.0 % Tangible capital to tangible assets 15,685,888 10.4 % N/A N/A N/A N/A The following table presents a reconciliation of the Company’s consolidated equity as determined using GAAP and the Bank’s regulatory capital amounts: At March 31, At December 31, 2016 2015 Consolidated GAAP equity $ 16,406,667 $ 16,293,170 Consolidated equity in excess of Bank equity (609,363 ) (607,282 ) Bank GAAP equity - Tangible capital 15,797,304 15,685,888 Less: Accumulated other comprehensive income, net of tax 33,535 2,498 Disallowed deferred tax assets - - Common equity tier 1 capital 15,763,769 15,683,390 Plus: Additional tier 1 capital - - Tier 1 capital 15,763,769 15,683,390 Plus: Allowance for loan losses (1.25% of risk-weighted assets) 938,000 901,000 Total risk-based capital $ 16,701,769 $ 16,584,390

Note 8 - Earnings Per Share

Note 8 - Earnings Per Share	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 8. Earnings Per Share Basic earnings per share is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding for the period exclusive of unallocated employee stock ownership plan shares. Granted unvested restricted stock and stock options are regarded as potential common stock and are considered in the diluted earnings per share calculations to the extent they would have a dilutive effect if converted to common stock, computed by using the Treasury Stock method. The calculation of net income per common share for the three months ended March 31, 2016 and 2015 are as follows: For the Three Months Ended March 31, 2016 For the Three Months Ended March 31, 2015 Net Income available to common shareholders $ 69,844 $ 55,415 Weighted average number of shares used in: Basic earnings per share 938,323 823,630 Adjustment for common share equivalents 19,258 14,927 Diluted earnings per share 957,581 838,557 Basic net income per common share $ 0.07 $ 0.07 Diluted net income per common share $ 0.07 $ 0.07

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, the Bank. All significant intercompany balances and transactions between the Company and the Bank have been eliminated.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reported period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for losses on loans and the valuation of real estate acquired in connection with foreclosure or in satisfaction of loans. In connection with the determination of the allowance for losses on loans and foreclosed real estate, management obtains independent appraisals for significant properties.
Reclassification, Policy [Policy Text Block]	Reclassifications Certain prior year amounts have been reclassified to conform to the current year method of presentation. Such reclassifications have no effect on net income.
New Accounting Pronouncements, Policy [Policy Text Block]	Accounting Standards Pending Adoption In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers In January 2016, the FASB issued ASU No. 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU No. 2016-02, Leases The Company is currently evaluating the provisions of ASU No. 2016-02 to determine the potential impact the new standard will have on the Company’s financial statements. In March 2016, the FASB issued ASU No. 2016-09, Compensati on—Stock Compensation : Improvements to Employee Share-Based Payment Accounting. The Company is currently evaluating the provisions of ASU No. 2016-09 to determine the potential impact the new standard will have on the Company’s financial statements. Other than the disclosures contained within these statements, the Company has determined that all other recently issued accounting pronouncements will not have a material impact on its consolidated financial statements or do not apply to its operations.

Note 2 - Securities (Tables)

Note 2 - Securities (Tables)	3 Months Ended
	Mar. 31, 2016
Notes Tables
Unrealized Gain (Loss) on Investments [Table Text Block]	At March 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Securities available for sale: Residential mortgage-backed securities $ 2,411,436 $ 22,159 $ - $ 2,433,595 Commercial mortgage-backed securities 2,016,367 30,853 - 2,047,220 Municipal bonds 224,150 2,879 - 227,029 $ 4,651,953 $ 55,891 $ - $ 4,707,844 Securities held to maturity: Municipal bonds $ 500,000 $ 14,657 $ - $ 514,657 Corporate bonds 1,605,667 14,403 - 1,620,070 $ 2,105,667 $ 29,060 $ - $ 2,134,727 At December 31, 2015 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value Securities available for sale: Residential mortgage-backed securities $ 2,549,295 $ 12,146 $ 8,818 $ 2,552,623 Commercial mortgage-backed securities 2,017,187 - - 2,017,187 Municipal bonds 241,739 2,503 1,668 242,574 $ 4,808,221 $ 14,649 $ 10,486 $ 4,812,384 Securities held to maturity: Municipal bonds $ 500,000 $ 9,470 $ - $ 509,470 Corporate bonds 1,505,775 250 3,595 1,502,430 $ 2,005,775 $ 9,720 $ 3,595 $ 2,011,900
Investments Classified by Contractual Maturity Date [Table Text Block]	At March 31, 2016 Securities available for sale Securities held to maturity Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Under 1 year $ - $ - $ - $ - Over 1 year through 5 years 2,365,830 2,400,153 - - After 5 years through 10 years 1,701,337 1,709,917 1,855,667 1,877,757 Over 10 years 584,786 597,774 250,000 256,970 $ 4,651,953 $ 4,707,844 $ 2,105,667 $ 2,134,727 At December 31, 2015 Securities available for sale Securities held to maturity Amortized Cost Estimated Fair Value Amortized Cost Estimated Fair Value Under 1 year $ - $ - $ - $ - Over 1 year through 5 years 378,316 379,770 - - After 5 years through 10 years 3,822,110 3,816,649 1,755,775 1,756,777 Over 10 years 607,795 615,965 250,000 255,123 $ 4,808,221 $ 4,812,384 $ 2,005,775 $ 2,011,900
Schedule of Unrealized Loss on Investments [Table Text Block]	At March 31, 2016 Less than 12 Months 12 Months or More Total Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses Securities available for sale: Residential mortgage-backed securities $ - $ - $ - $ - $ - $ - Municipal bonds - - - - - - $ - $ - $ - $ - $ - $ - Securities held to maturity: Corporate $ - $ - $ - $ - $ - $ - At December 31, 2015 Less than 12 Months 12 Months or More Total Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses Estimated Fair Value Gross Unrealized Losses Securities available for sale: Residential mortgage-backed securities $ 1,801,533 $ 8,818 $ - $ - $ 1,801,533 $ 8,818 Municipal bonds - - 78,916 1,668 78,916 1,668 $ 1,801,533 $ 8,818 $ 78,916 $ 1,668 $ 1,880,449 $ 10,486 Securities held to maturity: Corporate $ 652,180 $ 3,595 $ - $ - $ 652,180 $ 3,595

Note 3 - Loans (Tables)

Note 3 - Loans (Tables)	3 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	At March 31, 2016 At December 31, 2015 Percent Percent Balance of Total Balance of Total Residential owner occupied - first lien $ 41,450,859 32.3 % $ 44,890,154 34.9 % Residential owner occupied - junior lien 4,539,288 3.5 % 4,988,405 3.9 % Residential non-owner occupied (investor) 15,792,947 12.3 % 15,849,835 12.3 % Commercial owner occupied 14,270,230 11.1 % 14,717,990 11.4 % Other commercial loans 52,109,025 40.6 % 47,883,818 37.2 % Consumer loans 301,599 0.2 % 376,070 0.3 % Total loans 128,463,948 100.0 % 128,706,272 100.0 % Net deferred fees, costs and purchase premiums 588,592 628,139 Allowance for loan losses (938,000 ) (901,000 ) Total loans, net $ 128,114,540 $ 128,433,411

Note 4 - Credit Quality of Lo20

Note 4 - Credit Quality of Loans and Allowance for Loan Losses (Tables)	3 Months Ended
	Mar. 31, 2016
Notes Tables
Allowance for Credit Losses on Financing Receivables [Table Text Block]	For the Three Months Ended March 31, 2016 Residential owner occupied - first lien Residential owner occupied - junior lien Residential non-owner occupied (investor) Commercial owner occupied Other commercial loans Consumer loans Total Beginning balance $ 206,169 $ 21,450 $ 69,898 $ 117,744 $ 485,739 $ - $ 901,000 Charge-offs - - - - - - - Recoveries 6,834 - - - - - 6,834 Provision (49,265 ) (1,568 ) 46,655 (3,582 ) 37,926 - 30,166 Ending Balance $ 163,738 $ 19,882 $ 116,553 $ 114,162 $ 523,665 $ - $ 938,000 For the Three Months Ended March 31, 2015 Residential owner occupied - first lien Residential owner occupied - junior lien Residential non-owner occupied (investor) Commercial owner occupied Other commercial loans Consumer loans Total Beginning balance $ 228,461 $ 25,051 $ 46,047 $ 89,811 $ 332,630 $ - $ 722,000 Charge-offs - - - - - - - Recoveries 7,785 - 2,557 - - - 10,342 Provision (40,661 ) (2,885 ) (2,839 ) 10,009 65,034 - 28,658 Ending Balance $ 195,585 $ 22,166 $ 45,765 $ 99,820 $ 397,664 $ - $ 761,000 At March 31, 2016 Residential owner occupied - first lien Residential owner occupied - junior lien Residential non-owner occupied (investor) Commercial owner occupied Other commercial loans Consumer loans Total Allowance for loan losses: Ending balance $ 163,738 $ 19,882 $ 116,553 $ 114,162 $ 523,665 $ - $ 938,000 Ending balance individually evaluated for impairment $ - $ - $ 55,220 $ - $ - $ - $ 55,220 Ending balance collectively evaluated for impairment $ 163,738 $ 19,882 $ 61,333 $ 114,162 $ 523,665 $ - $ 882,780 Loans: Ending balance $ 41,450,859 $ 4,539,288 $ 15,792,947 $ 14,270,230 $ 52,109,025 $ 301,599 $ 128,463,948 Ending balance individually evaluated for impairment $ - $ - $ 250,540 $ - $ - $ - $ 250,540 Ending balance collectively evaluated for impairment $ 41,450,859 $ 4,539,288 $ 15,542,407 $ 14,270,230 $ 52,109,025 $ 301,599 $ 128,213,408 At December 31, 2015 Residential owner occupied - first lien Residential owner occupied - junior lien Residential non-owner occupied (investor) Commercial owner occupied Other commercial loans Consumer loans Total Allowance for loan losses: Ending balance $ 206,169 $ 21,450 $ 69,898 $ 117,744 $ 485,739 $ - $ 901,000 Ending balance individually evaluated for impairment $ - $ - $ - $ - $ - $ - $ - Ending balance collectively evaluated for impairment $ 206,169 $ 21,450 $ 69,898 $ 117,744 $ 485,739 $ - $ 901,000 Loans: Ending balance $ 44,890,154 $ 4,988,405 $ 15,849,835 $ 14,717,990 $ 47,883,818 $ 376,070 $ 128,706,272 Ending balance individually evaluated for impairment $ - $ - $ 108,188 $ - $ - $ - $ 108,188 Ending balance collectively evaluated for impairment $ 44,890,154 $ 4,988,405 $ 15,741,647 $ 14,717,990 $ 47,883,818 $ 376,070 $ 128,598,084
Financing Receivable Credit Quality Indicators [Table Text Block]	At March 31, 2016 Residential owner occupied - first lien Residential owner occupied - junior lien Residential non-owner occupied (investor) Commercial owner occupied Other commercial loans Consumer loans Total Pass $ 41,423,300 $ 4,539,288 $ 15,081,612 $ 14,270,230 $ 50,309,025 $ 301,599 $ 125,925,054 Special Mention - - - - 1,800,000 - 1,800,000 Substandard 27,559 - 711,335 - - - 738,894 Doubtful - - - - - - - Total $ 41,450,859 $ 4,539,288 $ 15,792,947 $ 14,270,230 $ 52,109,025 $ 301,599 $ 128,463,948 At December 31, 2015 Residential owner occupied - first lien Residential owner occupied - junior lien Residential non-owner occupied (investor) Commercial owner occupied Other commercial loans Consumer loans Total Pass $ 44,890,154 $ 4,988,405 $ 15,252,037 $ 14,717,990 $ 47,883,818 $ 376,070 $ 128,108,474 Special Mention - - - - - - - Substandard - - 597,798 - - - 597,798 Doubtful - - - - - - - Total $ 44,890,154 $ 4,988,405 $ 15,849,835 $ 14,717,990 $ 47,883,818 $ 376,070 $ 128,706,272
Past Due Financing Receivables [Table Text Block]	At March 31, 2016 Residential owner occupied - first lien Residential owner occupied - junior lien Residential non-owner occupied (investor) Commercial owner occupied Other commercial loans Consumer loans Total Current $ 40,813,665 $ 4,539,288 $ 15,300,112 $ 14,270,230 $ 51,549,639 $ 301,599 $ 126,774,533 30-59 days past due 637,194 - 385,374 - 559,386 - 1,581,954 60-89 days past due - - 107,461 - - - 107,461 Greater than 90 days past due - - - - - - - Total past due 637,194 - 492,835 - 559,386 - 1,689,415 Total $ 41,450,859 $ 4,539,288 $ 15,792,947 $ 14,270,230 $ 52,109,025 $ 301,599 $ 128,463,948 At December 31, 2015 Residential owner occupied - first lien Residential owner occupied - junior lien Residential non-owner occupied (investor) Commercial owner occupied Other commercial loans Consumer loans Total Current $ 44,522,124 $ 4,988,405 $ 15,731,641 $ 14,717,990 $ 46,621,559 $ 376,070 $ 126,957,789 30-59 days past due 122,300 - 118,194 - 1,262,259 - 1,502,753 60-89 days past due 245,730 - - - - - 245,730 Greater than 90 days past due - - - - - - - Total past due 368,030 - 118,194 - 1,262,259 - 1,748,483 Total $ 44,890,154 $ 4,988,405 $ 15,849,835 $ 14,717,990 $ 47,883,818 $ 376,070 $ 128,706,272
Impaired Financing Receivables [Table Text Block]	At March 31, 2016 Impaired Loans: Residential owner occupied - first lien Residential owner occupied - junior lien Residential non-owner occupied (investor) Commercial owner occupied Other commercial loans Consumer loans Total With no related allowance recorded: Recorded Investment $ 27,559 $ - $ 107,461 $ - $ - $ - $ 135,020 Unpaid Principal Balance 27,559 - 107,461 - - - 135,020 With an allowance recorded: Recorded Investment $ - $ - $ 115,520 $ - $ - $ - $ 115,520 Unpaid Principal Balance - - 117,737 - - - 117,737 Related Allowance - - 55,220 - - - 55,220 Total impaired loans: Recorded Investment $ 27,559 $ - $ 222,981 $ - $ - $ - $ 250,540 Unpaid Principal Balance 27,559 - 225,198 - - - 252,757 Related Allowance - - 55,220 - - - 55,220 At December 31, 2015 Impaired Loans: Residential owner occupied - first lien Residential owner occupied - junior lien Residential non-owner occupied (investor) Commercial owner occupied Other commercial loans Consumer loans Total With no related allowance recorded: Recorded Investment $ - $ - $ 108,188 $ - $ - $ - $ 108,188 Unpaid Principal Balance - - 108,188 - - - 108,188 With an allowance recorded: Recorded Investment $ - $ - $ - $ - $ - $ - $ - Unpaid Principal Balance - - - - - - - Related Allowance - - - - - - - Total impaired loans: Recorded Investment $ - $ - $ 108,188 $ - $ - $ - $ 108,188 Unpaid Principal Balance - - 108,188 - - - 108,188 Related Allowance - - - - - - - For the Three Months Ended March 31, 2016 Residential owner occupied - first lien Residential owner occupied - junior lien Residential non-owner occupied (investor) Commercial owner occupied Other commercial loans Consumer loans Total With no related allowance recorded: Average recorded investment $ 13,780 $ - $ 107,825 $ - $ - $ - $ 121,605 Interest income that would have been recognized 349 - - - - - 349 Interest income recognized (cash basis) - - - - - - - Interest income foregone (recovered) 349 - - - - - 349 With an allowance recorded: Average recorded investment $ - $ - $ 57,760 $ - $ - $ - $ 57,760 Interest income that would have been recognized - - 2,137 - - - 2,137 Interest income recognized (cash basis) - - - - - - - Interest income foregone (recovered) - - 2,137 - - - 2,137 Total impaired loans: Average recorded investment $ 13,780 $ - $ 165,585 $ - $ - $ - $ 179,365 Interest income that would have been recognized 349 - 2,137 - - - 2,486 Interest income recognized (cash basis) - - - - - - - Interest income foregone (recovered) 349 - 2,137 - - - 2,486 For the Three Months Ended March 31, 2015 Residential owner occupied - first lien Residential owner occupied - junior lien Residential non-owner occupied (investor) Commercial owner occupied Other commercial loans Consumer loans Total With no related allowance recorded: Average recorded investment $ 308,010 $ 4,709 $ 114,976 $ - $ - $ - $ 427,695 Interest income that would have been recognized 5,612 98 - - - - 5,710 Interest income recognized (cash basis) 18,898 611 - - - - 19,509 Interest income foregone (recovered) (13,286 ) (513 ) - - - - (13,799 ) With an allowance recorded: Average recorded investment $ - $ - $ - $ - $ - $ - $ - Interest income that would have been recognized - - - - - - - Interest income recognized (cash basis) - - - - - - - Interest income foregone (recovered) - - - - - - - Total impaired loans: Average recorded investment $ 308,010 $ 4,709 $ 114,976 $ - $ - $ - $ 427,695 Interest income that would have been recognized 5,612 98 - - - - 5,710 Interest income recognized (cash basis) 18,898 611 - - - - 19,509 Interest income foregone (recovered) (13,286 ) (513 ) - - - - (13,799 )
Performing and Nonperforming Impaired Loans [Table Text Block]	At March 31, At December 31, 2016 2015 Performing loans: Impaired performing loans: Residential owner occupied - first lien $ - $ - Residential owner occupied - junior lien - - Residential non-owner occupied (investor) - - Commercial owner occupied - - Other commercial loans - - Consumer loans - - Troubled debt restructurings: Residential owner occupied - first lien - - Residential owner occupied - junior lien - - Residential non-owner occupied (investor) 107,461 108,188 Commercial owner occupied - - Other commercial loans - - Consumer loans - - Total impaired performing loans 107,461 108,188 Nonperforming loans: Impaired nonperforming loans (nonaccrual): Residential owner occupied - first lien 27,559 - Residential owner occupied - junior lien - - Residential non-owner occupied (investor) 115,520 - Commercial owner occupied - - Other commercial loans - - Consumer loans - - Troubled debt restructurings: Residential owner occupied - first lien - - Residential owner occupied - junior lien - - Residential non-owner occupied (investor) - - Commercial owner occupied - - Other commercial loans - - Consumer loans - - Total impaired nonperforming loans (nonaccrual): 143,079 - Total impaired loans $ 250,540 $ 108,188

Note 5 - Deposits (Tables)

Note 5 - Deposits (Tables)	3 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule Of Deposit Product Segment [Table Text Block]	At March 31, 2016 At December 31, 2015 Balance Percent of Total Balance Percent of Total Non-interest bearing checking $ 9,510,881 7.9 % $ 8,718,993 7.1 % Interest-bearing checking 10,313,782 8.5 % 8,098,550 6.6 % Savings 3,429,246 2.8 % 2,512,638 2.1 % Premium savings 20,623,731 17.1 % 20,619,758 16.9 % IRA savings 6,087,296 5.0 % 6,325,231 5.2 % Money market 11,613,039 9.6 % 11,892,738 9.7 % Certificates of deposit 59,290,735 49.1 % 63,933,254 52.4 % Total deposits $ 120,868,710 100.0 % $ 122,101,162 100.0 %
Schedule Of Certificates of Deposit Maturities [Table Text Block]	At March 31, 2016 At December 31, 2015 Period to Maturity: Less than or equal to one year $ 30,283,394 $ 36,634,331 More than one to two years 15,002,187 13,245,022 More than two to three years 8,291,803 8,965,734 More than three to four years 1,270,730 1,798,769 More than four to five years 4,442,621 3,289,398 Total certificates of deposit $ 59,290,735 $ 63,933,254

Note 6 - Fair Value Measureme22

Note 6 - Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Notes Tables
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	At March 31, 2016 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Carrying Value Level 1 Level 2 Level 3 Residential mortgage-backed securities $ 2,433,595 $ - $ 2,433,595 $ - Commercial mortgage-backed securities 2,047,220 - 2,047,220 - Municipal bonds 227,029 - 227,029 - Total securities available for sale $ 4,707,844 $ - $ 4,707,844 $ - At December 31, 2015 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Carrying Value Level 1 Level 2 Level 3 Residential mortgage-backed securities $ 2,552,623 $ - $ 2,552,623 $ - Commercial mortgage-backed securities 2,017,187 - 2,017,187 - Municipal bonds 242,574 - 242,574 - Total securities available for sale $ 4,812,384 $ - $ 4,812,384 $ -
Fair Value Measurements, Nonrecurring [Table Text Block]	At March 31, 2016 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Carrying Value Level 1 Level 2 Level 3 Residential non-owner occupied (investor) $ 250,540 $ - $ - $ 250,540 Total impaired loans $ 250,540 $ - $ - $ 250,540 Residential owner occupied - first lien $ 199,374 $ - $ - $ 199,374 Total foreclosed real estate $ 199,374 $ - $ - $ 199,374 At December 31, 2015 Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Carrying Value Level 1 Level 2 Level 3 Residential non-owner occupied (investor) $ 108,188 $ - $ - $ 108,188 Total impaired loans $ 108,188 $ - $ - $ 108,188 Residential owner occupied - first lien $ 199,374 $ - $ - $ 199,374 Total foreclosed real estate $ 199,374 $ - $ - $ 199,374
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Impaired Loans Foreclosed Real Estate Balance, January 1, 2015 $ 595,070 $ 52,964 Total realized and unrealized gains (losses): Included in net income - - Settlements (253,803 ) - Transfers in and/or out of Level 3 (233,079 ) 146,410 Balance, December 31, 2015 $ 108,188 $ 199,374 Total realized and unrealized gains (losses): Included in net income - - Settlements (2,944 ) - Transfers in and/or out of Level 3 145,296 - Balance, March 31, 2016 $ 250,540 $ 199,374
Fair Value, by Balance Sheet Grouping [Table Text Block]	At March 31, 2016 Carrying Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Amount Fair Value Level 1 Level 2 Level 3 Financial instruments - assets: Certificates of deposit with depository institutions $ 2,450,268 $ 2,450,268 $ - $ 2,450,268 $ - Securities available for sale 4,707,844 4,707,844 - 4,707,844 - Securities held to maturity 2,105,667 2,134,727 - 2,134,727 - Loans, net of allowance for loan losses 128,114,540 128,743,000 - - 128,743,000 Bank-owned life insurance 2,121,806 2,121,806 - 2,121,806 - Other equity securities 1,028,596 1,028,596 - - 1,028,596 Financial instruments - liabilities: Deposits $ 120,868,710 $ 120,900,000 $ - $ 120,900,000 $ - Federal Home Loan Bank advances 17,500,000 17,662,000 - 17,662,000 - Financial instruments - off-balance sheet $ - $ - $ - $ - $ - At December 31, 2015 Carrying Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Amount Fair Value Level 1 Level 2 Level 3 Financial instruments - assets: Certificates of deposit with depository institutions $ 2,450,248 $ 2,450,248 $ - $ 2,450,248 $ - Securities available for sale 4,812,384 4,812,384 - 4,812,384 - Securities held to maturity 2,005,775 2,011,900 - 2,011,900 - Loans, net of allowance for loan losses 128,433,411 129,910,000 - - 129,910,000 Bank-owned life insurance 2,107,770 2,107,770 - 2,107,770 - Other equity securities 869,296 869,296 - - 869,296 Financial instruments - liabilities: Deposits $ 122,101,162 $ 121,806,000 $ - $ 121,806,000 $ - Federal Home Loan Bank advances 12,500,000 12,616,000 - 12,616,000 - Financial instruments - off-balance sheet $ - $ - $ - $ - $ -

Note 7 - Capital Requirements23

Note 7 - Capital Requirements and Regulatory Matters (Tables)	3 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block]	At March 31, 2016 Actual For Capital Adequacy Purposes To be well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio Total capital to risk-weighted assets $ 16,701,769 15.8 % $ 8,450,263 8.0 % $ 10,562,829 10.0 % Tier 1 capital to risk-weighted assets 15,763,769 14.9 % 6,337,697 6.0 % 8,450,263 8.0 % Common equity tier 1 capital to risk-weighted assets 15,763,769 14.9 % 4,753,273 4.5 % 6,865,839 6.5 % Tier 1 leverage to average assets 15,763,769 10.3 % 6,136,531 4.0 % 7,670,664 5.0 % Tangible capital to tangible assets 15,797,304 10.2 % N/A N/A N/A N/A At December 31, 2015 Actual For Capital Adequacy Purposes To be well Capitalized Under Prompt Corrective Action Provisions Amount Ratio Amount Ratio Amount Ratio Total capital to risk-weighted assets $ 16,584,390 16.0 % $ 8,301,696 8.0 % $ 10,377,120 10.0 % Tier 1 capital to risk-weighted assets 15,683,390 15.1 % 6,226,272 6.0 % 8,301,696 8.0 % Common equity tier 1 capital to risk-weighted assets 15,683,390 15.1 % 4,669,704 4.5 % 6,745,128 6.5 % Tier 1 leverage to average assets 15,683,390 10.0 % 6,304,897 4.0 % 7,881,122 5.0 % Tangible capital to tangible assets 15,685,888 10.4 % N/A N/A N/A N/A
Reconciliation of Consolidated Equity and Banks Regulatory Capital [Table Text Block]	At March 31, At December 31, 2016 2015 Consolidated GAAP equity $ 16,406,667 $ 16,293,170 Consolidated equity in excess of Bank equity (609,363 ) (607,282 ) Bank GAAP equity - Tangible capital 15,797,304 15,685,888 Less: Accumulated other comprehensive income, net of tax 33,535 2,498 Disallowed deferred tax assets - - Common equity tier 1 capital 15,763,769 15,683,390 Plus: Additional tier 1 capital - - Tier 1 capital 15,763,769 15,683,390 Plus: Allowance for loan losses (1.25% of risk-weighted assets) 938,000 901,000 Total risk-based capital $ 16,701,769 $ 16,584,390

Note 8 - Earnings Per Share (Ta

Note 8 - Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the Three Months Ended March 31, 2016 For the Three Months Ended March 31, 2015 Net Income available to common shareholders $ 69,844 $ 55,415 Weighted average number of shares used in: Basic earnings per share 938,323 823,630 Adjustment for common share equivalents 19,258 14,927 Diluted earnings per share 957,581 838,557 Basic net income per common share $ 0.07 $ 0.07 Diluted net income per common share $ 0.07 $ 0.07

Note 1 - Summary of Significa25

Note 1 - Summary of Significant Accounting Policies (Details Textual)	3 Months Ended
	Mar. 31, 2016
Number of Branches of Bank	3

Note 2 - Securities (Details Te

Note 2 - Securities (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Private Label Residential Mortgage-backed Securities	$ 0		$ 0
Deposit Liabilities, Collateral Issued, Financial Instruments	3,100,000		$ 2,300,000
Proceeds from Sale and Maturity of Available-for-sale Securities	15,000	$ 2,689,379
Gain (Loss) on Sale of Securities, Net	$ (1,061)	$ (100)

Note 2 - Amortized Cost and Fai

Note 2 - Amortized Cost and Fair Value of Investments (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Residential Mortgage Backed Securities [Member]
Securities available for sale:
Securities available for sale, amortized cost	$ 2,411,436	$ 2,549,295
Securities available for sale, gross unrealized gains	$ 22,159	12,146
Securities available for sale, gross unrealized losses		8,818
Securities available for sale, estimated fair value	$ 2,433,595	2,552,623
Commercial Mortgage Backed Securities [Member]
Securities available for sale:
Securities available for sale, amortized cost	2,016,367	$ 2,017,187
Securities available for sale, gross unrealized gains	$ 30,853
Securities available for sale, gross unrealized losses
Securities available for sale, estimated fair value	$ 2,047,220	$ 2,017,187
US States and Political Subdivisions Debt Securities [Member]
Securities available for sale:
Securities available for sale, amortized cost	224,150	241,739
Securities available for sale, gross unrealized gains	$ 2,879	2,503
Securities available for sale, gross unrealized losses		1,668
Securities available for sale, estimated fair value	$ 227,029	242,574
Securities held to maturity:
Securities held to maturity, amortized cost	500,000	500,000
Securities held to maturity, gross unrealized gains	$ 14,657	$ 9,470
Securities held to maturity, gross unrealized losses
Securities held to maturity, estimated fair value	$ 514,657	$ 509,470
Corporate Debt Securities [Member]
Securities held to maturity:
Securities held to maturity, amortized cost	1,605,667	1,505,775
Securities held to maturity, gross unrealized gains	$ 14,403	250
Securities held to maturity, gross unrealized losses		3,595
Securities held to maturity, estimated fair value	$ 1,620,070	1,502,430
Securities available for sale, amortized cost	4,651,953	4,808,221
Securities available for sale, gross unrealized gains	$ 55,891	14,649
Securities available for sale, gross unrealized losses		10,486
Securities available for sale, estimated fair value	$ 4,707,844	4,812,384
Securities held to maturity, amortized cost	2,105,667	2,005,775
Securities held to maturity, gross unrealized gains	$ 29,060	9,720
Securities held to maturity, gross unrealized losses		3,595
Securities held to maturity, estimated fair value	$ 2,134,727	$ 2,011,900

Note 2 - Contractual Maturities

Note 2 - Contractual Maturities of Investments (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Securities available for sale, amortized cost - under 1 year	$ 0	$ 0
Securities available for sale, estimated fair value - under 1 year	0	0
Securities held to maturity, amortized cost - under 1 year	0	0
Securities held to maturity, estimated fair value - under 1 year	0	0
Securities available for sale, amortized cost - over 1 year through 5 years	2,365,830	378,316
Securities available for sale, estimated fair value - over 1 year through 5 years	2,400,153	379,770
Securities held to maturity, amortized cost - over 1 year through 5 years	0	0
Securities held to maturity, estimated fair value - over 1 year through 5 years	0	0
Securities available for sale, amortized cost - after 5 years through 10 years	1,701,337	3,822,110
Securities available for sale, estimated fair value - after 5 years through 10 years	1,709,917	3,816,649
Securities held to maturity, amortized cost - after 5 years through 10 years	1,855,667	1,755,775
Securities held to maturity, estimated fair value - after 5 years through 10 years	1,877,757	1,756,777
Securities available for sale, amortized cost - over 10 years	584,786	607,795
Securities available for sale, estimated fair value - over 10 years	597,774	615,965
Securities held to maturity, amortized cost - over 10 years	250,000	250,000
Securities held to maturity, estimated fair value - over 10 years	256,970	255,123
Securities available for sale, amortized cost	4,651,953	4,808,221
Securities available for sale, estimated fair value	4,707,844	4,812,384
Securities held to maturity, amortized cost	2,105,667	2,005,775
Securities held to maturity, estimated fair value	$ 2,134,727	$ 2,011,900

Note 2 - Securities with Gross

Note 2 - Securities with Gross Unrealized Losses (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Residential Mortgage Backed Securities [Member]
Securities available for sale:
Securities available for sale, continual loss position, less than 12 months, estimated fair value		$ 1,801,533
Securities available for sale, continual loss position, less than 12 months, gross unrealzed losses		$ 8,818
Securities available for sale, continual loss position, 12 months or more, estimated fair value	$ 0
Securities available for sale, continual loss position, 12 months or more, gross unrealized losses	$ 0
Securities available for sale, continual loss position, estimated fair value		$ 1,801,533
Securities available for sale, continual loss position, gross unrealized losses		8,818
US States and Political Subdivisions Debt Securities [Member]
Securities available for sale:
Securities available for sale, continual loss position, less than 12 months, estimated fair value	$ 0	0
Securities available for sale, continual loss position, less than 12 months, gross unrealzed losses	$ 0	0
Securities available for sale, continual loss position, 12 months or more, estimated fair value		78,916
Securities available for sale, continual loss position, 12 months or more, gross unrealized losses		1,668
Securities available for sale, continual loss position, estimated fair value		78,916
Securities available for sale, continual loss position, gross unrealized losses		1,668
Corporate Debt Securities [Member]
Securities held to maturity:
Securities held to maturity, continual loss position, less than 12 months, estimated fair value		652,180
Securities held to maturity, continual loss position, less than 12 months, gross unrealized losses		$ 3,595
Securities held to maturity, continual loss position, 12 months or more, estimated fair value
Securities held to maturity, continual loss position, 12 months or more, gross unrealized losses
Securities held to maturity, continual loss position, estimated fair value		$ 652,180
Securities held to maturity, continual loss position, gross unrealized losses		3,595
Securities available for sale, continual loss position, less than 12 months, estimated fair value		1,801,533
Securities available for sale, continual loss position, less than 12 months, gross unrealzed losses		8,818
Securities available for sale, continual loss position, 12 months or more, estimated fair value		78,916
Securities available for sale, continual loss position, 12 months or more, gross unrealized losses		1,668
Securities available for sale, continual loss position, estimated fair value		1,880,449
Securities available for sale, continual loss position, gross unrealized losses		$ 10,486

Note 3 - Summary of Loans (Deta

Note 3 - Summary of Loans (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Residential Owner Occupied - First Lien [Member]
Loans	$ 41,450,859	$ 44,890,154
Percentage of total loans	32.30%	34.90%
Residential Owner Occupied - Junior Lien [Member]
Loans	$ 4,539,288	$ 4,988,405
Percentage of total loans	3.50%	3.90%
Residential Non-Owner Occupied (Investor) [Member]
Loans	$ 15,792,947	$ 15,849,835
Percentage of total loans	12.30%	12.30%
Commercial Owner Occupied [Member]
Loans	$ 14,270,230	$ 14,717,990
Percentage of total loans	11.10%	11.40%
Other Commercial Loans [Member]
Loans	$ 52,109,025	$ 47,883,818
Percentage of total loans	40.60%	37.20%
Consumer Portfolio Segment [Member]
Loans	$ 301,599	$ 376,070
Percentage of total loans	0.20%	0.30%
Loans	$ 128,463,948	$ 128,706,272
Percentage of total loans	100.00%	100.00%
Net deferred fees, costs and purchase premiums	$ 588,592	$ 628,139
Allowance for loan losses	(938,000)	(901,000)
Total loans, net	$ 128,114,540	$ 128,433,411

Note 4 - Credit Quality of Lo31

Note 4 - Credit Quality of Loans and Allowance for Loan Losses (Details Textual)	3 Months Ended	12 Months Ended
	Mar. 31, 2016USD ($)	Dec. 31, 2015
Special Mention [Member]
Financing Receivable Credit Downgrade, Amount	$ 1,800,000
Minimum Non Classified Commercial Loan Required for Annual Review	$ 50,000
Time Period to Be Consider for Restructured Loan to Become as Performing Loan	180 days
Financing Receivable, Modifications, Number of Contracts	0	0

Note 4 - Allowance for Loan Los

Note 4 - Allowance for Loan Losses (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Dec. 31, 2015
Residential Owner Occupied - First Lien [Member]
Allowance, beginning balance	$ 206,169	$ 228,461
Charge-offs	0	0
Recoveries	6,834	7,785
Provision	(49,265)	(40,661)
Allowance, ending balance	163,738	195,585
Allowance for loan losses:
Allowance for loan losses	206,169	228,461	$ 163,738	$ 206,169
Allowance, ending balance: individually evaluated for impairment			0	0
Allowance, ending balance: collectively evaluated for impairment			163,738
Loans:
Loans			$ 41,450,859	44,890,154
Loans, ending balance: individually evaluated for impairment				0
Loans, ending balance: collectively evaluated for impairment			$ 41,450,859	44,890,154
Residential Owner Occupied - Junior Lien [Member]
Allowance, beginning balance	21,450	25,051
Charge-offs	0	0
Recoveries	0	0
Provision	(1,568)	(2,885)
Allowance, ending balance	19,882	22,166
Allowance for loan losses:
Allowance for loan losses	21,450	25,051	19,882	21,450
Allowance, ending balance: individually evaluated for impairment			0	0
Allowance, ending balance: collectively evaluated for impairment			19,882
Loans:
Loans			4,539,288	4,988,405
Loans, ending balance: individually evaluated for impairment			0	0
Loans, ending balance: collectively evaluated for impairment			4,539,288	4,988,405
Residential Non-Owner Occupied (Investor) [Member]
Allowance, beginning balance	69,898	46,047
Charge-offs	0	0
Recoveries	0	2,557
Provision	46,655	(2,839)
Allowance, ending balance	116,553	45,765
Allowance for loan losses:
Allowance for loan losses	69,898	46,047	116,553	69,898
Allowance, ending balance: individually evaluated for impairment			55,220	0
Allowance, ending balance: collectively evaluated for impairment			61,333
Loans:
Loans			15,792,947	15,849,835
Loans, ending balance: individually evaluated for impairment			250,540	108,188
Loans, ending balance: collectively evaluated for impairment			15,542,407	15,741,647
Commercial Owner Occupied [Member]
Allowance, beginning balance	117,744	89,811
Charge-offs	0	0
Recoveries	0	0
Provision	(3,582)	10,009
Allowance, ending balance	114,162	99,820
Allowance for loan losses:
Allowance for loan losses	117,744	89,811	114,162	117,744
Allowance, ending balance: individually evaluated for impairment			0	0
Allowance, ending balance: collectively evaluated for impairment			114,162
Loans:
Loans			14,270,230	14,717,990
Loans, ending balance: individually evaluated for impairment			0	0
Loans, ending balance: collectively evaluated for impairment			14,270,230	14,717,990
Other Commercial Loans [Member]
Allowance, beginning balance	485,739	332,630
Charge-offs	0	0
Recoveries	0	0
Provision	37,926	65,034
Allowance, ending balance	523,665	397,664
Allowance for loan losses:
Allowance for loan losses	485,739	332,630	523,665	485,739
Allowance, ending balance: individually evaluated for impairment			0	0
Allowance, ending balance: collectively evaluated for impairment			523,665
Loans:
Loans			52,109,025	47,883,818
Loans, ending balance: individually evaluated for impairment			0	0
Loans, ending balance: collectively evaluated for impairment			52,109,025	47,883,818
Consumer Portfolio Segment [Member]
Allowance, beginning balance	0	0
Charge-offs	0	0
Recoveries	0	0
Provision	0	0
Allowance, ending balance	0	0
Allowance for loan losses:
Allowance for loan losses	0	0	0	0
Allowance, ending balance: individually evaluated for impairment			0	0
Allowance, ending balance: collectively evaluated for impairment			0
Loans:
Loans			301,599	376,070
Loans, ending balance: individually evaluated for impairment			0	0
Loans, ending balance: collectively evaluated for impairment			301,599	376,070
Allowance, beginning balance	901,000	722,000
Charge-offs	0	0
Recoveries	6,834	10,342
Provision	30,166	28,658
Allowance, ending balance	938,000	761,000
Allowance for loan losses	$ 901,000	$ 722,000	938,000	901,000
Allowance, ending balance: individually evaluated for impairment			55,220	0
Allowance, ending balance: collectively evaluated for impairment			882,780
Loans			128,463,948	128,706,272
Loans, ending balance: individually evaluated for impairment			250,540	108,188
Loans, ending balance: collectively evaluated for impairment			$ 128,213,408	$ 128,598,084

Note 4 - Loan Portfolio Quality

Note 4 - Loan Portfolio Quality Indicators (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Residential Owner Occupied - First Lien [Member] | Pass [Member]
Financial Receivable Recorded Investment	$ 41,423,300	$ 44,890,154
Residential Owner Occupied - First Lien [Member] | Special Mention [Member]
Financial Receivable Recorded Investment	0	0
Residential Owner Occupied - First Lien [Member] | Substandard [Member]
Financial Receivable Recorded Investment	27,559	0
Residential Owner Occupied - First Lien [Member] | Doubtful [Member]
Financial Receivable Recorded Investment	0	0
Residential Owner Occupied - First Lien [Member]
Financial Receivable Recorded Investment	41,450,859	44,890,154
Residential Owner Occupied - Junior Lien [Member] | Pass [Member]
Financial Receivable Recorded Investment	4,539,288	4,988,405
Residential Owner Occupied - Junior Lien [Member] | Special Mention [Member]
Financial Receivable Recorded Investment	0	0
Residential Owner Occupied - Junior Lien [Member] | Substandard [Member]
Financial Receivable Recorded Investment	0	0
Residential Owner Occupied - Junior Lien [Member] | Doubtful [Member]
Financial Receivable Recorded Investment	0	0
Residential Owner Occupied - Junior Lien [Member]
Financial Receivable Recorded Investment	4,539,288	4,988,405
Residential Non-Owner Occupied (Investor) [Member] | Pass [Member]
Financial Receivable Recorded Investment	15,081,612	15,252,037
Residential Non-Owner Occupied (Investor) [Member] | Special Mention [Member]
Financial Receivable Recorded Investment	0	0
Residential Non-Owner Occupied (Investor) [Member] | Substandard [Member]
Financial Receivable Recorded Investment	711,335	597,798
Residential Non-Owner Occupied (Investor) [Member] | Doubtful [Member]
Financial Receivable Recorded Investment	0	0
Residential Non-Owner Occupied (Investor) [Member]
Financial Receivable Recorded Investment	15,792,947	15,849,835
Commercial Owner Occupied [Member] | Pass [Member]
Financial Receivable Recorded Investment	14,270,230	14,717,990
Commercial Owner Occupied [Member] | Special Mention [Member]
Financial Receivable Recorded Investment	0	0
Commercial Owner Occupied [Member] | Substandard [Member]
Financial Receivable Recorded Investment	0	0
Commercial Owner Occupied [Member] | Doubtful [Member]
Financial Receivable Recorded Investment	0	0
Commercial Owner Occupied [Member]
Financial Receivable Recorded Investment	14,270,230	14,717,990
Other Commercial Loans [Member] | Pass [Member]
Financial Receivable Recorded Investment	50,309,025	47,883,818
Other Commercial Loans [Member] | Special Mention [Member]
Financial Receivable Recorded Investment	1,800,000	0
Other Commercial Loans [Member] | Substandard [Member]
Financial Receivable Recorded Investment	0	0
Other Commercial Loans [Member] | Doubtful [Member]
Financial Receivable Recorded Investment	0	0
Other Commercial Loans [Member]
Financial Receivable Recorded Investment	52,109,025	47,883,818
Consumer Portfolio Segment [Member] | Pass [Member]
Financial Receivable Recorded Investment	301,599	376,070
Consumer Portfolio Segment [Member] | Special Mention [Member]
Financial Receivable Recorded Investment	0	0
Consumer Portfolio Segment [Member] | Substandard [Member]
Financial Receivable Recorded Investment	0	0
Consumer Portfolio Segment [Member] | Doubtful [Member]
Financial Receivable Recorded Investment	0	0
Consumer Portfolio Segment [Member]
Financial Receivable Recorded Investment	301,599	376,070
Pass [Member]
Financial Receivable Recorded Investment	125,925,054	128,108,474
Special Mention [Member]
Financial Receivable Recorded Investment	1,800,000	0
Substandard [Member]
Financial Receivable Recorded Investment	738,894	597,798
Doubtful [Member]
Financial Receivable Recorded Investment	0	0
Financial Receivable Recorded Investment	$ 128,463,948	$ 128,706,272

Note 4 - Delinquencies in the L

Note 4 - Delinquencies in the Loan Portfolio (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Residential Owner Occupied - First Lien [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Past due	$ 637,194	$ 122,300
Residential Owner Occupied - First Lien [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Past due		$ 245,730
Residential Owner Occupied - First Lien [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Past due
Residential Owner Occupied - First Lien [Member]
Current	$ 40,813,665	$ 44,522,124
Past due	637,194	368,030
Total	41,450,859	44,890,154
Residential Owner Occupied - Junior Lien [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Past due	0	0
Residential Owner Occupied - Junior Lien [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Past due	0	$ 0
Residential Owner Occupied - Junior Lien [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Past due	0
Residential Owner Occupied - Junior Lien [Member]
Current	4,539,288	$ 4,988,405
Past due	0
Total	4,539,288	$ 4,988,405
Residential Non-Owner Occupied (Investor) [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Past due	385,374	118,194
Residential Non-Owner Occupied (Investor) [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Past due	107,461	0
Residential Non-Owner Occupied (Investor) [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Past due	0	0
Residential Non-Owner Occupied (Investor) [Member]
Current	15,300,112	15,731,641
Past due	492,835	118,194
Total	15,792,947	15,849,835
Commercial Owner Occupied [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Past due	0	0
Commercial Owner Occupied [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Past due	0	0
Commercial Owner Occupied [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Past due	0	0
Commercial Owner Occupied [Member]
Current	14,270,230	14,717,990
Past due	0	0
Total	14,270,230	14,717,990
Other Commercial Loans [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Past due	559,386	1,262,259
Other Commercial Loans [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Past due	0	0
Other Commercial Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Past due	0	0
Other Commercial Loans [Member]
Current	51,549,639	46,621,559
Past due	559,386	1,262,259
Total	52,109,025	47,883,818
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Past due	0	0
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Past due	0	0
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Past due	0	0
Consumer Portfolio Segment [Member]
Current	301,599	376,070
Past due	0	0
Total	301,599	376,070
Financing Receivables, 30 to 59 Days Past Due [Member]
Past due	1,581,954	1,502,753
Financing Receivables, 60 to 89 Days Past Due [Member]
Past due	$ 107,461	$ 245,730
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Past due
Current	$ 126,774,533	$ 126,957,789
Past due	1,689,415	1,748,483
Total	$ 128,463,948	$ 128,706,272

Note 4 - Impaired Loans (Detail

Note 4 - Impaired Loans (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Residential Owner Occupied - First Lien [Member]
Recorded Investment- With no related allowance recorded	$ 27,559
Unpaid Principal Balance- With no related allowance recorded	$ 27,559
Recorded Investment - with an allowance recorded
Unpaid Principal Balance - with an allowance recorded
Related Allowance
Nonperforming impaired loans	$ 27,559
Unpaid Principal Balance	27,559
Average recorded investment- With no related allowance recorded	13,780	$ 308,010
Interest income that would have been recognized- With no related allowance recorded	$ 349	5,612
Interest income recognized (cash basis)- With no related allowance recorded		18,898
Interest income foregone (recovered)- With no related allowance recorded	$ 349	$ (13,286)
Average recorded investment, with an allowance recorded
Interest income that would have been recognized, with an allowance recorded
Interest income recognized (cash basis)- With an allowance recorded
Interest income foregone (recovered), with an allowance recorded
Average recorded investment	$ 13,780	$ 308,010
Interest income that would have been recognized	$ 349	5,612
Interest income recognized (cash basis)		18,898
Interest income foregone (recovered)	$ 349	(13,286)
Residential Owner Occupied - Junior Lien [Member]
Average recorded investment- With no related allowance recorded		4,709
Interest income that would have been recognized- With no related allowance recorded		98
Interest income recognized (cash basis)- With no related allowance recorded		611
Interest income foregone (recovered)- With no related allowance recorded		$ (513)
Average recorded investment, with an allowance recorded
Interest income that would have been recognized, with an allowance recorded
Interest income recognized (cash basis)- With an allowance recorded
Interest income foregone (recovered), with an allowance recorded
Average recorded investment		$ 4,709
Interest income that would have been recognized		98
Interest income recognized (cash basis)		611
Interest income foregone (recovered)		(513)
Residential Non-Owner Occupied (Investor) [Member]
Recorded Investment- With no related allowance recorded	$ 107,461		$ 108,188
Unpaid Principal Balance- With no related allowance recorded	107,461		$ 108,188
Recorded Investment - with an allowance recorded	115,520
Unpaid Principal Balance - with an allowance recorded	117,737
Related Allowance	55,220
Nonperforming impaired loans	222,981		$ 108,188
Unpaid Principal Balance	225,198		108,188
Average recorded investment- With no related allowance recorded	$ 107,825	$ 114,976
Interest income recognized (cash basis)- With no related allowance recorded
Average recorded investment, with an allowance recorded	$ 57,760
Interest income that would have been recognized, with an allowance recorded	$ 2,137
Interest income recognized (cash basis)- With an allowance recorded
Interest income foregone (recovered), with an allowance recorded	$ 2,137
Average recorded investment	165,585	$ 114,976
Interest income that would have been recognized	$ 2,137
Interest income recognized (cash basis)
Interest income foregone (recovered)	$ 2,137
Recorded Investment- With no related allowance recorded	135,020		108,188
Unpaid Principal Balance- With no related allowance recorded	135,020		$ 108,188
Recorded Investment - with an allowance recorded	115,520
Unpaid Principal Balance - with an allowance recorded	117,737
Related Allowance	55,220
Nonperforming impaired loans	250,540		$ 108,188
Unpaid Principal Balance	252,757		$ 108,188
Average recorded investment- With no related allowance recorded	121,605	427,695
Interest income that would have been recognized- With no related allowance recorded	$ 349	5,710
Interest income recognized (cash basis)- With no related allowance recorded		19,509
Interest income foregone (recovered)- With no related allowance recorded	$ 349	$ (13,799)
Average recorded investment, with an allowance recorded	57,760
Interest income that would have been recognized, with an allowance recorded	$ 2,137
Interest income recognized (cash basis)- With an allowance recorded
Interest income foregone (recovered), with an allowance recorded	$ 2,137
Average recorded investment	179,365	$ 427,695
Interest income that would have been recognized	$ 2,486	5,710
Interest income recognized (cash basis)		19,509
Interest income foregone (recovered)	$ 2,486	$ (13,799)

Note 4 - Performing and Non-per

Note 4 - Performing and Non-performing Impaired Loans (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Performing Financial Instruments [Member] | Residential Non-Owner Occupied (Investor) [Member]
Impaired Loans Performing and Nonperforming loans	$ 107,461	$ 108,188
Performing Financial Instruments [Member]
Impaired Loans Performing and Nonperforming loans	107,461	$ 108,188
Nonperforming Financial Instruments [Member] | Residential Non-Owner Occupied (Investor) [Member]
Impaired Loans Performing and Nonperforming loans	115,520
Nonperforming Financial Instruments [Member] | Residential Owner Occupied - First Lien [Member]
Impaired Loans Performing and Nonperforming loans	27,559
Nonperforming Financial Instruments [Member]
Impaired Loans Performing and Nonperforming loans	143,079
Impaired Loans Performing and Nonperforming loans	$ 250,540	$ 108,188

Note 5 - Deposits (Details Text

Note 5 - Deposits (Details Textual) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Deposits Certificates of Deposits Brokered and Listing Service	$ 19,600,000	$ 27,800,000
Cash, FDIC Insured Amount	$ 250,000

Note 5 - Summary of Deposit Pro

Note 5 - Summary of Deposit Product Segment (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Non Interest Bearing Checking [Member]
Deposits	$ 9,510,881	$ 8,718,993
Percent of total	7.90%	7.10%
Interest-bearing Checking [Member]
Deposits	$ 10,313,782	$ 8,098,550
Percent of total	8.50%	6.60%
Savings [Member]
Deposits	$ 3,429,246	$ 2,512,638
Percent of total	2.80%	2.10%
Premium Savings [Member]
Deposits	$ 20,623,731	$ 20,619,758
Percent of total	17.10%	16.90%
IRA Savings [Member]
Deposits	$ 6,087,296	$ 6,325,231
Percent of total	5.00%	5.20%
Money Market Funds [Member]
Deposits	$ 11,613,039	$ 11,892,738
Percent of total	9.60%	9.70%
Certificates of Deposit [Member]
Deposits	$ 59,290,735	$ 63,933,254
Percent of total	49.10%	52.40%
Deposits	$ 120,868,710	$ 122,101,162
Percent of total	100.00%	100.00%

Note 5 - Summary of Certificate

Note 5 - Summary of Certificates of Deposit by Maturity Date Ranges (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Less than or equal to one year	$ 30,283,394	$ 36,634,331
More than one to two years	15,002,187	13,245,022
More than two to three years	8,291,803	8,965,734
More than three to four years	1,270,730	1,798,769
More than four to five years	4,442,621	3,289,398
Total certificates of deposit	$ 59,290,735	$ 63,933,254

Note 6 - Summary of Financial A

Note 6 - Summary of Financial Assets Measured at Fair Value on a Recurring Basis (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Measurements, Recurring [Member] | Residential Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Securities available for sale, estimated fair value	$ 2,433,595	$ 2,552,623
Fair Value, Measurements, Recurring [Member] | Residential Mortgage Backed Securities [Member]
Securities available for sale, estimated fair value	2,433,595	2,552,623
Fair Value, Measurements, Recurring [Member] | Commercial Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Securities available for sale, estimated fair value	2,047,220	2,017,187
Fair Value, Measurements, Recurring [Member] | Commercial Mortgage Backed Securities [Member]
Securities available for sale, estimated fair value	2,047,220	2,017,187
Fair Value, Measurements, Recurring [Member] | Municipal Bonds1 [Member] | Fair Value, Inputs, Level 2 [Member]
Securities available for sale, estimated fair value	227,029	242,574
Fair Value, Measurements, Recurring [Member] | Municipal Bonds1 [Member]
Securities available for sale, estimated fair value	227,029	242,574
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Securities available for sale, estimated fair value	4,707,844	4,812,384
Fair Value, Measurements, Recurring [Member]
Securities available for sale, estimated fair value	4,707,844	4,812,384
Residential Mortgage Backed Securities [Member]
Securities available for sale, estimated fair value	2,433,595	2,552,623
Commercial Mortgage Backed Securities [Member]
Securities available for sale, estimated fair value	2,047,220	2,017,187
Fair Value, Inputs, Level 2 [Member]
Securities available for sale, estimated fair value	4,707,844	4,812,384
Securities available for sale, estimated fair value	$ 4,707,844	$ 4,812,384

Note 6 - Summary of Financial41

Note 6 - Summary of Financial Assets Measured at Fair Value on Non-recurring Basis (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Measurements, Nonrecurring [Member] | Residential Non-Owner Occupied (Investor) [Member] | Fair Value, Inputs, Level 3 [Member]
Nonperforming impaired loans	$ 250,540	$ 108,188
Fair Value, Measurements, Nonrecurring [Member] | Residential Non-Owner Occupied (Investor) [Member]
Nonperforming impaired loans	250,540	108,188
Fair Value, Measurements, Nonrecurring [Member] | Residential Owner Occupied - First Lien [Member] | Fair Value, Inputs, Level 3 [Member]
Foreclosed assets at fair value	199,374	199,374
Fair Value, Measurements, Nonrecurring [Member] | Residential Owner Occupied - First Lien [Member]
Foreclosed assets at fair value	199,374	199,374
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Nonperforming impaired loans	250,540	108,188
Foreclosed assets at fair value	199,374	199,374
Fair Value, Measurements, Nonrecurring [Member]
Nonperforming impaired loans	250,540	108,188
Foreclosed assets at fair value	199,374	199,374
Residential Non-Owner Occupied (Investor) [Member]
Nonperforming impaired loans	222,981	$ 108,188
Residential Owner Occupied - First Lien [Member]
Nonperforming impaired loans	27,559
Nonperforming impaired loans	$ 250,540	$ 108,188

Note 6 - Reconciliation of Begi

Note 6 - Reconciliation of Beginning and Ending Balances for Level 3 Assets (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Impaired Loans [Member]
Balance	$ 108,188	$ 595,070
Total realized and unrealized gains (losses):
Included in net income	0	0
Settlements	(2,944)	(253,803)
Transfers in and/or out of Level 3	145,296	(233,079)
Balance	250,540	108,188
Foreclosed Real Estate [Member]
Balance	199,374	$ 52,964
Total realized and unrealized gains (losses):
Included in net income	0
Settlements	0
Transfers in and/or out of Level 3	0	$ 146,410
Balance	$ 199,374	$ 199,374

Note 6 - Estimated Fair Values

Note 6 - Estimated Fair Values of Financial Instruments (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Inputs, Level 2 [Member]
Financial instruments - assets:
Certificates of deposit with depository institutions at fair value	$ 2,450,268	$ 2,450,248
Securities available for sale, estimated fair value	4,707,844	4,812,384
Securities held to maturity, estimated fair value	2,134,727	2,011,900
Bank-owned life insurance at fair value	2,121,806	2,107,770
Financial instruments - liabilities:
Deposits at fair value	120,900,000	121,806,000
Federal Home Loan Bank advances at fair value	17,662,000	$ 12,616,000
Fair Value, Inputs, Level 3 [Member]
Financial instruments - assets:
Securities held to maturity, estimated fair value
Loans, net of allowance for loan losses at fair value	128,743,000	$ 129,910,000
Other equity securities at fair value	1,028,596	869,296
Certificates of deposit with depository institutions	2,450,268	2,450,248
Certificates of deposit with depository institutions at fair value	2,450,268	2,450,248
Securities available for sale, estimated fair value	4,707,844	4,812,384
Securities held to maturity, amortized cost	2,105,667	2,005,775
Securities held to maturity, estimated fair value	2,134,727	2,011,900
Loans, net of allowance for loan losses	128,114,540	128,433,411
Loans, net of allowance for loan losses at fair value	128,743,000	129,910,000
Bank-owned life insurance	2,121,806	2,107,770
Bank-owned life insurance at fair value	2,121,806	2,107,770
Other equity securities	1,028,596	869,296
Other equity securities at fair value	1,028,596	869,296
Financial instruments - liabilities:
Deposits	120,868,710	122,101,162
Deposits at fair value	120,900,000	121,806,000
Federal Home Loan Bank advances	17,500,000	12,500,000
Federal Home Loan Bank advances at fair value	$ 17,662,000	$ 12,616,000

Note 7 - Capital Requirements44

Note 7 - Capital Requirements and Regulatory Matters (Details Textual)	3 Months Ended
	Mar. 31, 2016
Maximum [Member]
Cash Dividend Limit as Percentage of Net Earnings	90.00%
Dividends Paid from Undivided Profits	100.00%
Dividends Paid from Surplus in Excess of Required Capital Stock	100.00%
Loans and Advances Limit as Percentage of Capital	10.00%

Note 7 - Actual Capital Levels

Note 7 - Actual Capital Levels and Minimum Levels (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Total risk-based capital	$ 16,701,769	$ 16,584,390
Total capital to risk-weighted assets- Actual Ratio	15.80%	16.00%
Total capital to risk-weighted assets- For Capital Adequacy amount	$ 8,450,263	$ 8,301,696
Total capital to risk-weighted assets- For Capital Adequacy Ratio	8.00%	8.00%
Total capital to risk-weighted assets- To be well capialized under prompt corrective action provisions	$ 10,562,829	$ 10,377,120
Total capital to risk-weighted assets- To be well capialized under prompt corrective action provisions ratio	10.00%	10.00%
Tier 1 capital	$ 15,763,769	$ 15,683,390
Tier 1 capital to risk-weighted assets- Actual Ratio	14.90%	15.10%
Tier 1 capital to risk-weighted assets- For Capital Adequacy amount	$ 6,337,697	$ 6,226,272
Tier 1 capital to risk-weighted assets- For Capital Adequacy Ratio	6.00%	6.00%
Tier 1 capital to risk-weighted assets- To be well capialized under prompt corrective action provisions	$ 8,450,263	$ 8,301,696
Tier 1 capital to risk-weighted assets- To be well capialized under prompt corrective action provisions ratio	8.00%	8.00%
Common equity tier 1 capital	$ 15,763,769	$ 15,683,390
Common equity tier 1 capital to risk-weighted assets- Actual Ratio	14.90%	15.10%
Common equity tier 1 capital to risk-weighted assets- For Capital Adequacy amount	$ 4,753,273	$ 4,669,704
Common equity tier 1 capital to risk-weighted assets- For Capital Adequacy Ratio	4.50%	4.50%
Common equity tier 1 capital to risk-weighted assets- To be well capialized under prompt corrective action provisions	$ 6,865,839	$ 6,745,128
Common equity tier 1 capital to risk-weighted assets- To be well capialized under prompt corrective action provisions ratio	6.50%	6.50%
Tier 1 leverage to average assets- Actual	$ 15,763,769	$ 15,683,390
Tier 1 leverage to average assets- Actual Ratio	10.30%	10.00%
Tier 1 leverage to average assets- For Capital Adequacy amount	$ 6,136,531	$ 6,304,897
Tier 1 leverage to average assets- For Capital Adequacy Ratio	4.00%	4.00%
Tier 1 leverage to average assets- To be well capialized under prompt corrective action provisions	$ 7,670,664	$ 7,881,122
Tier 1 leverage to average assets- To be well capialized under prompt corrective action provisions ratio	5.00%	5.00%
Bank GAAP equity - Tangible capital	$ 15,797,304	$ 15,685,888
Tangible capital to tangible assets- Actual Ratio	10.20%	10.40%
Tangible capital to tangible assets- For Capital Adequacy amount
Tangible capital to tangible assets- For Capital Adequacy Ratio
Tangible capital to tangible assets- To be well capialized under prompt corrective action provisions
Tangible capital to tangible assets- To be well capialized under prompt corrective action provisions ratio

Note 7 - Reconciliation of Comp

Note 7 - Reconciliation of Company's Consolidated Equity (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Consolidated GAAP equity	$ 16,406,667	$ 16,293,170	$ 15,802,011	$ 10,750,497
Consolidated equity in excess of Bank equity	(609,363)	(607,282)
Bank GAAP equity - Tangible capital	15,797,304	15,685,888
Less:
Accumulated other comprehensive income, net of tax	33,535	2,498
Common equity tier 1 capital	15,763,769	15,683,390
Plus:
Tier 1 capital	15,763,769	15,683,390
Allowance for loan losses (1.25% of risk-weighted assets)	938,000	901,000
Total risk-based capital	$ 16,701,769	$ 16,584,390

Note 7 - Reconciliation of Co47

Note 7 - Reconciliation of Company's Consolidated Equity (Details) (Parentheticals)	Mar. 31, 2016	Dec. 31, 2015
Percentage of risk-weighted assets	1.25%	1.25%

Note 8 - Calculation of Net Inc

Note 8 - Calculation of Net Income Per Common Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net Income available to common shareholders	$ 69,844	$ 55,415
Weighted average number of shares used in:
Basic earnings per share (in shares)	938,323	823,630
Adjustment for common share equivalents (in shares)	19,258	14,927
Diluted earnings per share (in shares)	957,581	838,557
Basic net income per common share (in dollars per share)	$ 0.07	$ 0.07
Diluted net income per common share (in dollars per share)	$ 0.07	$ 0.07