Edgewater Bancorp (EGDW) 10-Q 13 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 10, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	Edgewater Bancorp, Inc.
Entity Central Index Key	1,584,770
Trading Symbol	egdw
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		667,898
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Assets
Cash and due from banks	$ 1,025,498	$ 877,780
Interest-bearing demand deposits in banks	8,780,568	10,029,113
Cash and cash equivalents	9,806,066	10,906,893
Available-for-sale securities	11,917,327	11,713,738
Loans held for sale	584,750
Loans receivable, net of allowance for losses of $1,074,315 and $1,075,374, respectively	107,849,345	106,955,455
Premises and equipment, net	3,590,920	3,606,170
Federal Home Loan Bank (FHLB) stock	686,200	686,200
Other real estate, net	227,100	262,100
Interest receivable	316,735	314,174
Mortgage servicing rights	387,927	408,715
Other assets	561,014	521,943
Total assets	135,927,384	135,375,388
Deposits
Noninterest bearing	14,639,077	13,940,853
Interest-bearing	101,178,098	99,390,003
Total deposits	115,817,175	113,330,856
Federal Home Loan Bank advances	6,000,000	8,000,000
Accrued and other liabilities	752,675	672,470
Total liabilities	$ 122,569,850	$ 122,003,326
Commitments and Contingencies
Temporary Equity
ESOP shares subject to mandatory redemption	$ 53,397	$ 46,197
Stockholders' Equity
Preferred Stock-shares authorized 5,000,000: none issued or outstanding at $.01 par value
Common Stock-shares authorized 7,000,000: shares issued and outstanding 667,898 at $.01 par value	$ 6,679	$ 6,679
Paid-in-capital	4,683,434	4,683,434
Retained earnings	8,590,383	8,650,052
Accumulated other comprehensive income (loss)	23,641	(14,300)
Total equity	13,304,137	13,325,865
Total liabilities and stockholders' equity	$ 135,927,384	$ 135,375,388

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parentheticals) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Consolidated Balance Sheets
Loans, allowance for losses (in dollars)	$ 1,074,315	$ 1,075,374
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	7,000,000	7,000,000
Common stock, shares issued	667,898	667,898
Common stock, shares outstanding	667,898	667,898
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Interest Income
Loans, including fees	$ 1,168,000	$ 1,111,278
Debt securities
Taxable	31,803	30,412
Tax-exempt	10,042	12,172
Federal Home Loan Bank stock	7,351	13,620
Other	10,559	6,206
Total interest income	1,227,755	1,173,688
Interest Expense
Deposits	125,269	98,513
Federal Home Loan Bank advances	23,693	27,135
Total interest expense	148,962	125,648
Net Interest Income	$ 1,078,793	$ 1,048,040
Provision for Loan Losses
Net Interest Income After Provision for Loan Losses	$ 1,078,793	$ 1,048,040
Noninterest Income
Service charges, deposits	81,419	92,892
Mortgage banking activities	78,062	101,297
Other	20,947	35,133
Total noninterest income	180,428	229,322
Noninterest Expense
Salaries and employee benefits	688,910	639,162
Occupancy and equipment	197,762	200,282
Data processing	141,129	131,633
Loss on sale of other real estate, net	16,500	4,000
Interchange	23,709	21,503
Advertising	23,035	13,105
FDIC insurance premiums	26,579	37,084
Other real estate	1,193	5,529
Professional fees	110,049	118,545
Insurance	14,633	14,957
Other	75,391	61,287
Total noninterest expense	1,318,890	1,247,087
Net Income (Loss) Before Income Taxes	$ (59,669)	$ 30,275
Provision for Income Taxes
Net Income (Loss)	$ (59,669)	$ 30,275
Basic and Diluted Earnings (Loss) Per Share (in dollars per share)	$ (0.10)	$ 0.05

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Consolidated Statements of Comprehensive Loss
Net Income (Loss)	$ (59,669)	$ 30,275
Other Comprehensive Income
Net change in unrealized gains on investment securities available-for-sale	$ 37,941	$ 53,325
Less: reclassification adjustment for realized gains (losses) included in net income (loss)
Other comprehensive income before income tax	$ 37,941	$ 53,325
Tax expense (benefit), net of deferred tax asset valuation impact of $12,900 and $18,131, respectively
Comprehensive Income (Loss)	$ (21,728)	$ 83,600

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parentheticals) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Consolidated Statements of Comprehensive Loss
Tax expense (benefit), deferred tax asset valuation impact	$ 12,900	$ 18,131

Condensed Consolidated Stateme7

Condensed Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - 3 months ended Mar. 31, 2016 - USD ($)	Common Stock	Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total
Balance at Dec. 31, 2015	$ 6,679	$ 4,683,434	$ 8,650,052	$ (14,300)	$ 13,325,865
Balance (in shares) at Dec. 31, 2015	667,898				667,898
Increase (Decrease) in Equity
Net loss			(59,669)		$ (59,669)
Other comprehensive income				37,941	37,941
Balance at Mar. 31, 2016	$ 6,679	$ 4,683,434	$ 8,590,383	$ 23,641	$ 13,304,137
Balance (in shares) at Mar. 31, 2016	667,898				667,898

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating activities:
Net income (loss)	$ (59,669)	$ 30,275
Items not requiring cash:
Depreciation	$ 105,037	$ 108,736
Provision for loan losses
Amortization of premiums on securities	$ 22,356	$ 25,610
Change in fair value of mortgage servicing rights	7,646	5,439
Loss on sale of other real estate	16,500	4,000
ESOP shares earned	7,200	5,444
Amortization of mortgage servicing rights	34,045	28,572
Loans originated for sale	(2,962,309)	(3,333,065)
Proceeds from loan sold	2,406,594	2,556,278
Gain on sale of loans	(49,938)	(62,788)
Gain on sale of premises and equipment	(3,929)
Net change in:
Interest receivable and other assets	(41,632)	(59,522)
Interest payable and other liabilities	80,205	184,706
Net cash used in operating activities	(437,894)	(506,315)
Investing activities:
Purchases of available-for-sale securities	(1,969,750)
Proceeds from calls and maturities of available-for-sale securities	1,781,746	296,397
Net change in loans	(893,890)	(5,479,143)
Proceeds from sale of other real estate	18,500	6,000
Proceeds from sale of premises and equipment	4,500
Purchases of premises and equipment	(90,358)	(22,802)
Net cash used in investing activities	(1,149,252)	(5,199,548)
Financing activities:
Net change in deposits	2,486,319	364,328
Proceeds from short term Federal Home Loan Bank advances		2,000,000
Repayment of short term Federal Home Loan Bank advances		(1,000,000)
Repayment of long term Federal Home Loan Bank advances	(2,000,000)
Net cash provided by financing activities	486,319	1,364,328
Net Change in Cash and Cash Equivalents	(1,100,827)	(4,341,535)
Cash and Cash Equivalents, Beginning of Period	10,906,893	13,444,597
Cash and Cash Equivalents, End of Period	9,806,066	9,103,062
Additional Cash Flows Information:
Interest paid	125,517	105,627
Capitalization of mortgage serving rights	$ 20,904	$ 25,088

Nature of Operation and Convers

Nature of Operation and Conversion	3 Months Ended
	Mar. 31, 2016
Nature Of Operations And Conversion [Abstract]
Nature of Operation and Conversion	Note 1: Nature of Operation and Conversion Edgewater Bank, a federally chartered stock savings association (the “Bank”) is primarily engaged in providing a full range of banking and financial services to individual and corporate customers in the Berrien, Van Buren and to a lesser extent Cass Counties, Michigan. The Bank is subject to competition from other financial institutions. The Bank is subject to the regulation of the certain federal and state agencies and undergoes periodic examinations by those regulatory authorities. The Banks’s wholly-owned subsidiaries, Explorer Financial Service Corporation (EFSC) and Edgewater Insurance Agency, Inc. (EIA) are included in the consolidated financial statements. EFSC is primarily engaged in providing title insurance services and EIA is used to collect premiums and receive commissions for insurance related benefits the Bank offers its employees. On January 16, 2014, in accordance with a Plan of Conversion and Reorganization, the Bank completed a mutual–to-stock conversion pursuant to which the Bank became the wholly owned subsidiary of Edgewater Bancorp, Inc. (the “Company”), a Maryland stock holding corporation. In connection with the Conversion, the Company sold 667,898 shares of common stock, at an offering price of $10 per share. The Company’s stock began being quoted on the OTC Bulletin Board on January 17, 2014 under the symbol “EGDW,” and is currently quoted on the OTCQB operated by OTC Markets Group, Inc. under the symbol “EGDW.” The net proceeds from the stock offering, net of offering costs of approximately $1,455,000, amounted to approximately $4,690,000. Also, in connection with the Conversion, the Bank established an employee stock ownership plan (the “ESOP”), which purchased 53,431 shares of the Company’s common stock at a price of $10 per share. In accordance with the OCC regulations, at the time of the Conversion of the mutual bank to a stock holding company, the Company was required to substantially restrict retained earnings by establishing a liquidation account and the Bank established a parallel liquidation account. The liquidations account will be maintained for the benefit of eligible holders who continue to maintain their accounts at the Bank after conversion. The liquidation account will be reduced annually to the extent that eligible account holders have reduced their qualifying deposits. Subsequent increases will not restore an eligible account holders’ 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.

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Note 2: Basis of Presentation The accompanying condensed consolidated financial statements were prepared in accordance with instructions for Form 10-Q and Rule 10-01 of Regulation S-X and, therefore, certain information or footnotes necessary for a complete presentation of financial position, results of operations, and cash flows in conformity with U.S. generally accepted accounting principles (GAAP) for interim financial information have been condensed or omitted pursuant to such rules and regulations. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates used in the preparation of the financial statements are based on various factors including the current interest rate environment and the general strength of the local economy. Changes in the overall interest rate environment can significantly affect the Company’s net interest income and the value of its recorded assets and liabilities. Actual results could differ from those estimates used in the preparation of the financial statements. However, in the opinion of management, all adjustments (consisting of only normal recurring accruals) which are necessary for a fair presentation of the financial statements have been included. The results of operations for the three-month period ended March 31, 2016, are not necessarily indicative of the results which may be expected for the entire year. Accordingly, these financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto of the Company as of December 31, 2015 included in Edgewater Bancorp, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2015.

Principles of Consolidation

Principles of Consolidation	3 Months Ended
	Mar. 31, 2016
Principles Of Consolidation [Abstract]
Principles of Consolidation	Note 3: Principles of Consolidation The consolidated financial statements include the accounts of the Edgewater Bancorp, Inc. and its wholly owned subsidiary, Edgewater Bank. All significant intercompany accounts and transactions have been eliminated in consolidation.

Securities

Securities	3 Months Ended
	Mar. 31, 2016
Investments Debt And Equity Securities [Abstract]
Securities	Note 4: Securities The amortized cost and approximate fair values of investment securities are as follows: March 31, 2016 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Unaudited) Available-for-sale securities: U.S. Government and federal agency $ 6,410,592 $ 3,880 $ 5,067 $ 6,409,405 State and political subdivisions 2,554,477 8,628 2,090 2,561,015 Mortgage-backed -Government- Sponsored Enterprise (GSE)-residential 2,351,752 18,542 5,309 2,364,985 Collateralized mortgage obligations-GSE 576,865 5,057 - 581,922 Total available-for-sale securities $ 11,893,686 $ 36,107 $ 12,466 $ 11,917,327 December 31, 2015 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Available-for-sale securities: U.S. Government and federal agency $ 5,952,239 $ 925 $ 28,222 $ 5,924,942 State and political subdivisions 2,555,544 8,357 5,015 2,558,886 Mortgage-backed -Government- Sponsored Enterprise (GSE)-residential 2,566,762 14,222 10,728 2,570,256 Collateralized mortgage obligations-GSE 653,493 6,161 - 659,654 Total available-for-sale securities $ 11,728,038 $ 29,665 $ 43,965 $ 11,713,738 The amortized cost and fair value of investment securities at March 31, 2016 and December 31, 2015, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties. March 31, 2016 December 31, 2015 Amortized Fair Amortized Fair Cost Value Cost Value (Unaudited) Within one year $ 500,060 $ 500,800 $ 1,000,596 $ 1,004,319 After one through five years 8,465,009 8,469,620 7,507,187 7,479,509 8,965,069 8,970,420 8,507,783 8,483,828 Mortgage-backed - GSE residential 2,351,752 2,364,985 2,566,762 2,570,256 Collateralized mortgage obligations-GSE 576,865 581,922 653,493 659,654 $ 11,893,686 $ 11,917,327 $ 11,728,038 $ 11,713,738 The carrying value of investment securities pledged as collateral, to secure public deposits and for other purposes was $233,484 at March 31, 2016 (unaudited) and $246,401 at December 31, 2015. For the three month period ended March 31, 2016 and March 31, 2015, there were no sales of securities available-for-sale. Certain investments in debt securities have fair values at an amount less than their historical cost. Total fair value of these investments at March 31, 2016 (unaudited) and December 31, 2015 was $5,959,508 and $6,612,243, which is approximately 50% and 56%, respectively, of the Company’s investment portfolio. These declines primarily resulted from changes in market interest rates since the securities were purchased. Management believes the declines in fair value for these investment securities are temporary. Should the impairment of any of these investment securities become other than temporary, the cost basis of the investment will be reduced and the resulting loss recognized in net income in the period the other-than-temporary impairment is identified. Investment securities with unrealized losses were as follows: March 31, 2016 Less than 12 Months 12 Months or Longer Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Unaudited) Available-for-sale securities: U.S. Government and federal agency $ 3,537,624 $ 3,112 $ 997,083 $ 1,955 $ 4,534,707 $ 5,067 State and political subdivisions - - 497,910 2,090 497,910 2,090 Mortgage-backed -GSE residential 926,891 5,309 - - 926,891 5,309 $ 4,464,515 $ 8,421 $ 1,494,993 $ 4,045 $ 5,959,508 $ 12,466 December 31, 2015 Less than 12 Months 12 Months or Longer Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Available-for-sale securities: U.S. Government and federal agency $ 3,524,074 $ 19,656 $ 990,379 $ 8,566 $ 4,514,453 $ 28,222 State and political subdivisions - - 494,985 5,015 494,985 5,015 Mortgage-backed -GSE residential 1,602,805 10,728 - - 1,602,805 10,728 $ 5,126,879 $ 30,384 $ 1,485,364 $ 13,581 $ 6,612,243 $ 43,965 The unrealized losses on the Company’s investments in direct obligations of U.S. Government and federal agencies, state and political subdivision and mortgage-backed GSE residential securities were caused by interest rate changes. The contractual terms of those investments do not permit the issuer to settle the securities at a price less than the amortized cost bases of the investments. Because the Company does not intend to sell the investments and it is not more likely than not the Company will be required to sell the investments before recovery of their amortized cost bases, which may be maturity, the Company does not consider those investments to be other-than-temporarily impaired at March 31, 2016, and December 31, 2015.

Loans and Allowance

Loans and Allowance	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
Loans and Allowance	Note 5: Loans and Allowance The Company’s loan and allowance policies are as follows: Loans Receivable Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoffs are reported at their outstanding principal balances adjusted for unearned income, charge-offs, the allowance for loan losses, any unamortized deferred fees or costs on originated loans and unamortized premiums or discounts on purchased loans. For loans amortized at cost, interest income is accrued based on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, as well as premiums and discounts, are deferred and amortized as a level yield adjustment over the respective term of the loan. The accrual of interest on loans is discontinued at the time the loan is 90 days past due unless the credit is well-secured and in process of collection. Past-due status is based on contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged off at an earlier date if collection of principal or interest is considered doubtful. There were no changes in the Company’s nonaccrual policy during the three month-end periods ended March 31, 2016 (unaudited) and March 31, 2015 (unaudited). All interest accrued but not collected for loans that are placed on nonaccrual or charged off are reversed against interest income. The interest on these loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. For all loan portfolio segments, the Company promptly charges off loans, or portions thereof, when available information confirms that specific loans are uncollectible based on information that includes, but is not limited to, (1) the deteriorating financial condition of the borrower, (2) declining collateral values, and/or (3) legal action, including bankruptcy, that impairs the borrower’s ability to adequately meet its obligations. For impaired loans that are considered to be solely collateral dependent, a partial charge-off is recorded when a loss has been confirmed by an updated appraisal or other appropriate valuation of the collateral. When cash payments are received on impaired loans in each loan class, the Company records the payment as interest income unless collection of the remaining recorded principal amount is doubtful, at which time payments are used to reduce the principal balance of the loan. Troubled debt restructured loans recognize interest income on an accrual basis at the renegotiated rate if the loan is in compliance with the modified terms. Allowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to income. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectibility of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may affect the borrower’s ability to repay, estimated value of any underlying collateral and prevailing economic conditions. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of allocated and general components. The allocated component relates to loans that are classified as impaired. For those loans that are classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan is lower than the carrying value of that loan. The general component covers nonclassified loans and is based on historical charge-off experience and expected loss given default derived from the Company’s internal risk rating process. Other adjustments may be made to the allowance for pools of loans after an assessment of internal or external influences on credit quality that are not fully reflected in the historical loss or risk rating data. A loan is considered impaired when, based on current information and events, it is probable that the Company 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 commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price or the fair value of the collateral if the loan is collateral dependent. Groups of loans with similar risk characteristics are collectively evaluated for impairment based on the group’s historical loss experience adjusted for changes in trends, conditions and other relevant factors that affect repayment of the loans. Accordingly, the Company does not separately identify individual consumer and residential loans for impairment measurements, unless such loans are the subject of a restructuring agreement due to financial difficulties of the borrower. Categories of loans receivable include: March 31, December 31, 2016 2015 (Unaudited) Real estate loans: Residential 1-4 family $ 44,548,538 $ 45,402,431 Commercial 34,125,440 32,374,013 Construction and land 3,983,938 1,975,842 Total real estate 82,657,916 79,752,286 Commercial and industrial 6,839,642 8,147,480 Warehouse line 10,000,000 10,000,000 Consumer loans: Home equity loans and lines of credit 8,234,164 9,003,016 Other consumer loans 1,170,684 1,101,856 Total consumer 9,404,848 10,104,872 Gross loans 108,902,406 108,004,638 Net deferred loan fees (21,254 ) (26,191 ) Allowance for loan losses 1,074,315 1,075,374 Net loans $ 107,849,345 $ 106,955,455 The risk characteristics of each loan portfolio segment are as follows: Residential 1-4 Family, Home Equity Loans and Lines of Credit and Other Consumer: Commercial Real Estate including Construction and Land: Commercial and Industrial: Warehouse Line: The following presents by portfolio segment, the activity in the allowance for loan losses: Residential Commercial Commercial Warehouse 1-4 Family Real Estate and Industrial Line Consumer Total (Unaudited) Three Months Ended March 31, 2016: Balance, beginning of period $ 337,230 $ 504,023 $ 69,337 $ 60,787 $ 103,997 $ 1,075,374 Provision (credit) for loan losses (35,318 ) 101,860 (43,180 ) (6,155 ) (17,207 ) - Loans charged to the allowance (2,020 ) - - - - (2,020 ) Recoveries of loans previously charged off 562 399 - - - 961 Balance, end of period $ 300,454 $ 606,282 $ 26,157 $ 54,632 $ 86,790 $ 1,074,315 Three Months Ended March 31, 2015: Balance, beginning of period $ 222,618 $ 503,621 $ 248,388 $ - $ 100,724 $ 1,075,351 Provision (credit) for loan losses (15,535 ) 20,742 (21,672 ) 28,812 (12,347 ) - Loans charged to the allowance - (5,364 ) - - - (5,364 ) Recoveries of loans previously charged off - 1,100 - - - 1,100 Balance, end of period $ 207,083 $ 520,099 $ 226,716 $ 28,812 $ 88,377 $ 1,071,087 The following presents the allowance for loan losses and the recorded investment in loans based on portfolio segment and impairment method as of March 31, 2016 and December 31, 2015: Residential Commercial Commercial Warehouse 1-4 Family Real Estate and Industrial Line Consumer Total (Unaudited) At March 31, 2016: Allowance: Balance, end of period $ 300,454 $ 606,282 $ 26,157 $ 54,632 $ 86,790 $ 1,074,315 Ending balance: individually evaluated for impairment $ 8,175 $ 251 $ - $ - $ 347 $ 8,773 Ending balance: collectively evaluated for impairment $ 292,279 $ 606,031 $ 26,157 $ 54,632 $ 86,443 $ 1,065,542 Loans: Ending balance $ 44,548,538 $ 38,109,378 $ 6,839,642 $ 10,000,000 $ 9,404,848 $ 108,902,406 Ending balance individually evaluated for impairment $ 1,367,743 $ 287,673 $ - $ - $ 117,216 $ 1,772,632 Ending balance collectively evaluated for impairment $ 43,180,795 $ 37,821,705 $ 6,839,642 $ 10,000,000 $ 9,287,632 $ 107,129,774 Residential Commercial Commercial Warehouse 1-4 Family Real Estate and Industrial Line Consumer Total At December 31, 2015: Allowance: Balance, end of period $ 337,230 $ 504,023 $ 69,337 $ 60,787 $ 103,997 $ 1,075,374 Ending balance: individually evaluated for impairment $ 13,969 $ 302 $ - $ - $ 372 $ 14,643 Ending balance: collectively evaluated for impairment $ 323,261 $ 503,721 $ 69,337 $ 60,787 $ 103,625 $ 1,060,731 Loans: Ending balance $ 45,402,431 $ 34,349,855 $ 8,147,480 $ 10,000,000 $ 10,104,872 $ 108,004,638 Ending balance individually evaluated for impairment $ 2,051,278 $ 315,658 $ - $ - $ 122,809 $ 2,489,745 Ending balance collectively evaluated for impairment $ 43,351,153 $ 34,034,197 $ 8,147,480 $ 10,000,000 $ 9,982,063 $ 105,514,893 Internal Risk Categories In adherence with policy, the Bank uses the following internal risk grading categories and definitions for loans: RISK RATING 1 – EXCELLENT General: The highest quality asset rating reflects superior, in-depth management, and superior financial flexibility. Conservative balance sheets are both strong and liquid, and historic cash flows (last five years) have provided exceptionally large and stable margins of protection. Specific: Financial statements are current, audited, of superior quality and in complete detail. Financial condition is superior and compares favorably to the industry average. Cash flow is outstanding relative to historical and projected debt service requirements. The borrower adheres to all loan covenants. Management (or individual) integrity and ability are outstanding. RISK RATING 2 – STRONG General: The borrower is fully responsible for the credit. Asset quality and liquidity are very good, and debt capacity and coverage are strong. The company has strong management in all positions, and is highly regarded with excellent financial flexibility including access to other sources of financing. Specific: Financial statements are current, of excellent quality and in adequate detail. Financial condition is very good and compares favorably to the industry average. Statements reflect a stable record of earnings over time and consistent profitability. Cash flow is strong relative to historical and projected debt service requirements. The borrower consistently adheres to the repayment schedules for both principal and interest. The borrower adheres to all loan covenants. Management (or individual) integrity and ability are outstanding. RISK RATING 3 – GOOD General: Asset quality and liquidity are strong, and debt capacity and coverage are good to above average. General financial trends are stable to favorable and financial and profitability ratios are consistent with industry peers. Management strength is apparent. The industry is average. Some modest elements of uncertainty may be present due to liquidity, margin and cash flow stability, asset of customer concentrations, dependence on one business type, or cyclical trends that may affect the borrower. Specific: The financial statements are generally current, of adequate detail, and of good quality. Publication of statements is at least once annually but in most cases more frequent. Financial condition is good relative to the industry. The earnings record is stable and consistent, although modest year-to-year earnings may fluctuate more than for borrowers rated Excellent (1) or Strong (2). Cash flow may vary during the repayment of the loan but does not fall below debt service requirements. Historical profitability may be inconsistent but losses are typically non-existent or infrequent. Liquidity and leverage are at the industry average. The borrower consistently adheres to repayment schedules for both principal and interest, and adheres to all loan covenants. Any waivers are immaterial, and do not negatively impact the strength of the credit. Management (or individual) integrity and ability are sound. Depth and breadth of management is also sound. RISK RATING 4 – ACCEPTABLE General: Asset quality and liquidity are good, and debt capacity and coverage are average to good. General financial trends are stable to favorable and financial and profitability ratios are consistent with industry peers. Management strength is apparent but may be limited to key positions. The industry is average. Some elements of uncertainty may be present due to liquidity, margin and cash flow stability, asset of customer concentrations, dependence on one business type, or cyclical trends that may affect the borrower. Adverse economic conditions may lead to declining trends. Specific: The financial statements are generally current, of adequate detail, and of average quality. Publication of statements is at least once annually. Financial condition is average relative to the industry. The earnings record is satisfactory, although year-to-year earnings patterns may fluctuate more than for borrowers rated Good (3). Cash flow may vary during the repayment of the loan but does not fall below debt service requirements. Historical profitability may be inconsistent and may have losses in recent years. Liquidity and leverage may be below the industry average, and the borrower may be highly leveraged. The borrower consistently adheres to repayment schedules for both principal and interest, and adheres to all loan covenants. Any waivers are immaterial, and do not negatively impact the strength of the credit. Management (or individual) integrity and ability are sound. Depth and breadth of management is also sound. RISK RATING 5 – WATCH General: Loans in this category are considered to be acceptable credit quality, but contain greater credit risk than Risk Rating 4 loans due to weak balance sheets, marginal earnings or cash flow, lack of financial information, weakening markets, insufficient or questionable collateral coverage, or other uncertainties. These loans warrant a higher than average level of monitoring to ensure that potential weaknesses do not emerge. The level of risk in a Watch loan is within acceptable underwriting guidelines so long as the loan is given the proper level of management supervision. Specific: The financial statements may be missing, outdated, of poor quality, or lacking in important details. Financial condition is below the industry average. The borrower may be experiencing negative trends and/or erratic or unstable financial performance. The borrower may have suffered a loss in a recent period; however, losses have not been of the magnitude to have adversely affected the balance sheet. The borrower generally adheres to repayment schedules for principal and consistently for interest. Cash flow from primary sources has generally been adequate but, if existing trends continue may not be adequate to meet projected debt service requirements in the future. The borrower may have violated one or more financial or other covenants, but such has not materially impacted financial condition or performance. Industry outlook may be unfavorable. The integrity and quality of management remains good; however, management depth may be limited. RISK RATING 6 – SPECIAL MENTION General: Assets in this category have potential weaknesses that deserve the Bank’s close attention. If potential weaknesses are left unchecked or uncorrected, they may result in deterioration of the repayment prospects for the asset or inadequately protect the Bank’s credit position at some future date. These assets pose elevated risk, but their weakness does not expose the Bank to sufficient risk to warrant adverse classification. Specific: Borrowers may be experiencing adverse operating trends (declining revenues or margins) or an ill-proportioned balance sheet (increasing inventory without an increase in sales, high leverage, tight liquidity). Adverse economic or market conditions, such as interest rate increases or the entry of a new competitor, may also support a Special Mention (6) rating. Nonfinancial reasons for rating a credit Special Mention (6) include management problems, pending litigation, an ineffective loan agreement or other material structural weaknesses, and any other significant deviation from prudent lending practices. RISK RATING 7 – SUBSTANDARD General: Assets in this category are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. These assets have a well-defined weakness or weaknesses that jeopardize the timely liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Specific: Substandard assets have a high probability of payment default, or they have other well-defined weaknesses. The financial statements may be missing, seriously outdated, of poor quality, or lacking in important details. Financial condition is less than satisfactory. The borrower is experiencing negative trends and material losses. The primary source of cash flow is inadequate to meet current debt service requirements, and unless present conditions improve is potentially inadequate to meet projected debt service requirements. The borrower may have reached the point of employing its secondary source of cash flow. The borrower inconsistently adheres to repayment schedules for either principal or interest. The borrower may have violated one or more financial or other covenants, reflecting unsatisfactory liquidity and/or capitalization. Either the integrity or the ability of management may be in question. For some Substandard (7) assets, the likelihood of full collection of interest and principal may be in doubt; such assets should be placed on nonaccrual. RISK RATING 8 – DOUBTFUL General: Assets in this category have all the weaknesses inherent in one classified substandard with the added characteristic that the weaknesses make collection or liquidation in full on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Specific: An asset in this category has a high probability of total or substantial loss, but because of specific pending events that may strengthen the asset, its classification as loss is deferred. Doubtful borrowers are usually in default, lack adequate liquidity and capital, and lack the resources necessary to remain an operating entity. Pending events can include mergers, acquisitions, liquidations, capital injections, and the perfection of liens on additional collateral, the valuation of collateral and refinancing. Generally, pending events should be resolved within a relatively short period and the ratings will be adjusted based on new information. Because of high probability of loss, nonaccrual accounting treatment is required for Doubtful (8) assets. RISK RATING 9 – LOSS General: Assets in this category are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off this basically worthless asset even though partial recovery may be obtained in the future. Specific: With Loss (9) assets, the underlying borrowers are often in bankruptcy, have formally suspended debt repayments, or have otherwise ceased normal business operations. Once an asset is classified Loss (9), there is little prospect of collecting either its principal or interest. Losses are to be recorded in the period an obligation becomes uncollectable. The following tables present the credit risk profile of the Company’s loan portfolio based on rating category and payment activity as of March 31, 2016: Residential Commercial Construction Commercial Warehouse Other 1-4 Family Real Estate and Land and Industrial Line Home Equity Consumer Total (Unaudited) Pass (1-5) $ 43,967,789 $ 32,348,698 $ 3,975,380 $ 6,839,642 $ 10,000,000 $ 8,193,326 $ 1,170,684 $ 106,495,519 Special Mention (6) - - - - - - - - Substandard (7) 580,749 1,776,742 8,558 - - 40,838 - 2,406,887 Doubtful (8) - - - - - - - - Loss (9) - - - - - - - - Total $ 44,548,538 $ 34,125,440 $ 3,983,938 $ 6,839,642 $ 10,000,000 $ 8,234,164 $ 1,170,684 $ 108,902,406 The following tables present the credit risk profile of the Company’s loan portfolio based on rating category and payment activity as of December 31, 2015: Residential Commercial Construction Commercial Warehouse Other 1-4 Family Real Estate and Land and Industrial Line Home Equity Consumer Total Pass (1-5) $ 44,838,588 $ 30,037,894 $ 1,966,182 $ 8,147,480 $ 10,000,000 $ 9,003,016 $ 1,101,856 $ 105,095,016 Special Mention (6) - 1,553,936 - - - - - 1,553,936 Substandard (7) 563,843 782,183 9,660 - - - - 1,355,686 Doubtful (8) - - - - - - - - Loss (9) - - - - - - - - Total $ 45,402,431 $ 32,374,013 $ 1,975,842 $ 8,147,480 $ 10,000,000 $ 9,003,016 $ 1,101,856 $ 108,004,638 The following tables present the Company’s loan portfolio aging analysis as of March 31, 2016: Total Loans > 30-59 Days 60-89 Days Greater Than Total Total 90 Days & Past Due Past Due 90 Days Past Due Current Loans Accruimg (Unaudited) Residential 1-4 family $ 760,462 $ 156,835 $ 580,749 $ 1,498,046 $ 43,050,492 $ 44,548,538 $ - Commercial real estate - - 9,715 9,715 34,115,725 34,125,440 - Construction and land 21,402 - 8,558 29,960 3,953,978 3,983,938 - Commercial and industrial - - - - 6,839,642 6,839,642 - Warehouse Line - - - - 10,000,000 10,000,000 - Home equity 38,668 2,913 - 41,581 8,192,583 8,234,164 - Other consumer 1,996 - - 1,996 1,168,688 1,170,684 - $ 822,528 $ 159,748 $ 599,022 $ 1,581,298 $ 107,321,108 $ 108,902,406 $ - The following tables present the Company’s loan portfolio aging analysis as of December 31, 2015: Total Loans > 30-59 Days 60-89 Days Greater Than Total Total 90 Days & Past Due Past Due 90 Days Past Due Current Loans Accruimg Residential 1-4 family $ 1,124,518 $ 312,454 $ 555,497 $ 1,992,469 $ 43,409,962 $ 45,402,431 $ - Commercial real estate 9,715 - - 9,715 32,364,298 32,374,013 - Construction and land - 23,118 9,660 32,778 1,943,064 1,975,842 - Commercial and industrial 99,541 - - 99,541 8,047,939 8,147,480 - Warehouse Line - - - - 10,000,000 10,000,000 - Home equity 72,128 10,288 8,309 90,725 8,912,291 9,003,016 - Other consumer - 2,852 - 2,852 1,099,004 1,101,856 - $ 1,305,902 $ 348,712 $ 573,466 $ 2,228,080 $ 105,776,558 $ 108,004,638 $ - The following table presents the Company’s nonaccrual loans at March 31, 2016 and December 31, 2015. This table excludes performing troubled debt restructurings. March 31 December 31, 2016 2015 (Unaudited) Residential 1-4 family $ 580,749 $ 1,233,905 Commercial real estate 9,715 9,715 Construction and land 8,558 32,777 Commercial and industrial - - Warehouse Line - - Home equity 40,838 43,712 Other consumer - - $ 639,860 $ 1,320,109 A loan is considered impaired, in accordance with the impairment accounting guidance (ASC 310-10-35-16), when based on current information and events, it is probable the Company will be unable to collect all amounts due from the borrower in accordance with the contractual terms of the loan. Impaired loans include nonperforming commercial loans but also include loans modified in troubled debt restructurings. The following table presents impaired loans and specific valuation allowance based on class level at March 31, 2016: Residential Commercial Construction Commercial Warehouse 1-4 Family Real Estate and Land and Industrial Line Home Equity Total (Unaudited) Impaired loans without a specific allowance: Recorded investment $ 594,124 $ 269,400 $ - $ - $ - $ 76,378 $ 939,902 Unpaid principal balance 663,903 269,400 - - - 76,378 1,009,681 Impaired loans with a specific allowance: Recorded investment 773,619 9,715 8,558 - - 40,838 832,730 Unpaid principal balance 798,921 11,111 9,116 - - 44,161 863,309 Specific allowance 8,175 151 100 - - 347 8,773 Total impaired loans: Recorded investment 1,367,743 279,115 8,558 - - 117,216 1,772,632 Unpaid principal balance 1,462,824 280,511 9,116 - - 120,539 1,872,990 Specific allowance 8,175 151 100 - - 347 8,773 The following table presents average impaired loans based on class level for the three months ended March 31, 2016 and 2015: Residential Commercial Construction Commercial Warehouse 1-4 Family Real Estate and Land and Industrial Line Home Equity Total (Unaudited) Average recorded investment in impaired loans for the three months ended March 31, 2016 $ 1,319,341 $ 280,998 $ 8,558 $ - $ - $ 120,012 $ 1,728,909 Average recorded investment in impaired loans for the three months ended March 31, 2015 $ 1,786,178 $ 295,734 $ 330,402 $ - $ - $ 153,885 $ 2,566,199 The following table presents impaired loans and specific valuation allowance based on class level at December 31, 2015: Residential Commercial Construction Commercial Warehouse 1-4 Family Real Estate and Land and Industrial Line Home Equity Total Impaired loans without a specific allowance: Recorded investment $ 848,467 $ 273,166 $ - $ - $ - $ 79,097 $ 1,200,730 Unpaid principal balance 921,718 273,166 - - - 79,097 1,273,981 Impaired loans with a specific allowance: Recorded investment 1,202,811 9,715 32,777 - - 43,712 1,289,015 Unpaid principal balance 1,259,063 11,111 36,696 - - 45,687 1,352,557 Specific allowance 13,969 129 173 - - 372 14,643 Total impaired loans: Recorded investment 2,051,278 282,881 32,777 - - 122,809 2,489,745 Unpaid principal balance 2,180,781 284,277 36,696 - - 124,784 2,626,538 Specific allowance 13,969 129 173 - - 372 14,643 Interest income of $11,622, $10,696 and $41,740 was recognized on impaired loans for the three months ended March 31, 2016 (unaudited) and March 31, 2015 (unaudited) and for year-end December 31, 2015, respectively. At March 31, 2016, the Company had several loans that were modified in troubled debt restructurings and impaired. The modification of terms of such loans included one or a combination of the following: an extension of maturity, a reduction of the stated interest rate or a permanent reduction of the recorded investment in the loan. Total troubled debt restructured loan balance on ten loans was $1.2 million for the three months ended March 31, 2016 (unaudited). There were no troubled debt restructurings for the three months ended March 31, 2016 and 2015. There were no troubled debt restructured loans modified in the past 12 months that subsequently defaulted. At March 31, 2016, the Company held no residential real estate as foreclosed property. Also, at March 31, 2016, there were no consumer mortgage loans in the process of foreclosure according to local requirements of the applicable jurisdictions.

Disclosures about Fair Value of

Disclosures about Fair Value of Assets and Liabilities	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Disclosures about Fair Value of Assets and Liabilities	Note 6: Disclosures about Fair Value of Assets and Liabilities Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements must maximize the use of observable inputs and minimize the use of unobservable inputs. There is a hierarchy of three levels of inputs that may be used to measure fair value: Level 1 Quoted prices in active markets for identical assets or liabilities. Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Unobservable inputs supported by little or no market activity and are significant to the fair value of the assets or liabilities. Recurring Measurements The following table presents the fair value measurements of assets recognized in the accompanying consolidated balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at March 31, 2016 (unaudited) and for the year end December 31, 2015: March 31, 2016 Fair Value Measurements Using Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Fair Assets Inputs Inputs Assets Value (Level 1) (Level 2) (Level 3) (Unaudited) Available-for-sale securities: U.S. Government and federal agency $ 6,409,405 $ - $ 6,409,405 $ - State and political subdivisions 2,561,015 - 2,561,015 - Mortgage-backed - GSE residential 2,364,985 - 2,364,985 - Collateralized mortgage obligations-GSE 581,922 - 581,922 - Mortgage servicing rights 75,530 - - 75,530 December 31, 2015 Fair Value Measurements Using Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Fair Assets Inputs Inputs Assets Value (Level 1) (Level 2) (Level 3) Available-for-sale securities: U.S. Government and federal agency $ 5,924,942 $ - $ 5,924,942 $ - State and political subdivisions 2,558,886 - 2,558,886 - Mortgage-backed - GSE residential 2,570,256 - 2,570,256 - Collateralized mortgage obligations-GSE 659,654 - 659,654 - Mortgage servicing rights 83,176 - - 83,176 Following is a description of the valuation methodologies and inputs used for assets measured at fair value on a recurring basis and recognized in the accompanying consolidated balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. There have been no significant changes in the valuation techniques during the three months ended March 31, 2016 (unaudited) and the year ended December 31, 2015. For assets classified within Level 3 of the fair value hierarchy, the process used to develop the reported fair value is described below. Available-for-Sale Securities Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted market prices are not available, then fair values are estimated by using quoted prices of securities with similar characteristics or independent asset pricing services and pricing models, the inputs of which are market-based or independently sourced market parameters, including, but not limited to, yield curves, interest rates, volatilities, prepayments, defaults, cumulative loss projections and cash flows. Such securities are classified in Level 2 of the valuation hierarchy including U.S. Government and federal agency, state and political subdivisions, mortgage-backed securities GSE, and collateralized mortgage debt obligations GSE. In certain cases where Level 1 or Level 2 inputs are not available, securities are classified within Level 3 of the hierarchy. The Company has no securities classified as Level 3. Mortgage Servicing Rights Mortgage servicing rights do not trade in an active, open market with readily observable prices. Accordingly, fair value is estimated using discounted cash flow models having significant inputs of discount rate, prepayment speed and default rate. Due to the nature of the valuation inputs, mortgage servicing rights are classified within Level 3 of the hierarchy. Mortgage servicing rights are tested for impairment on a quarterly basis. The Chief Financial Officer’s (CFO) office contracts with a pricing specialist to generate fair value estimates on at least an annual basis. The CFO’s office challenges the reasonableness of the assumptions used and reviews the methodology to ensure the estimated fair value complies with accounting standards generally accepted in the United States. Level 3 Reconciliation The following is a reconciliation of the beginning and ending balances of recurring fair value measurements recognized in the accompanying balance sheets using significant unobservable (Level 3) inputs: Three Months Ended 2016 2015 (Unaudited) Balance, beginning of period $ 83,176 $ 114,193 Total changes in fair value included in earnings (7,646 ) (5,439 ) Balance, end of period $ 75,530 $ 108,754 Nonrecurring Measurements The following table presents the fair value measurement of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fall at March 31, 2016 (unaudited) and December 31, 2015: Fair Value Measurements Using Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Fair Assets Inputs Inputs Assets Value (Level 1) (Level 2) (Level 3) March 31, 2016 (Unaudited) Collateral-dependent impaired loans, $ 823,957 $ - $ - $ 823,957 Net of ALLL December 31, 2015 Other real estate owned $ 202,100 $ - $ - $ 202,100 Collateral-dependent impaired loans, 1,274,372 - - 1,274,372 Net of ALLL Following is a description of the valuation methodologies and inputs used for assets measured at fair value on a nonrecurring basis and recognized in the accompanying consolidated balance sheets, as well as the general classification of such assets pursuant to the valuation hierarchy. For assets classified within Level 3 of the fair value hierarchy, the process used to develop the reported fair value is described below. Other Real Estate Owned Other real estate owned (OREO) is carried at the lower of fair value at acquisition date or current estimated fair value, less estimated cost to sell when the real estate is acquired. Estimated fair value of OREO is based on appraisals or evaluations. OREO is classified within Level 3 of the fair value hierarchy. Appraisals of OREO are obtained when the real estate is acquired and subsequently as deemed necessary by the CFO’s office. Appraisals are reviewed for accuracy and consistency by the CFO’s office. Appraisers are selected from the list of approved appraisers maintained by management. Collateral-dependent Impaired Loans, Net of ALLL The estimated fair value of collateral-dependent impaired loans is based on the appraised fair value of the collateral, less estimated cost to sell. Collateral-dependent impaired loans are classified within Level 3 of the fair value hierarchy. The Company considers the appraisal or evaluation as the starting point for determining fair value and then considers other factors and events in the environment that may affect the fair value. Appraisals of the collateral underlying collateral-dependent loans are obtained when the loan is determined to be collateral-dependent and subsequently as deemed necessary by the CFO’s office. Appraisals are reviewed for accuracy and consistency by the CFO’s office. Appraisers are selected from the list of approved appraisers maintained by management. The appraised values are reduced by discounts to consider lack of marketability and estimated cost to sell if repayment or satisfaction of the loan is dependent on the sale of the collateral. These discounts and estimates are developed by the CFO’s office by comparison to historical results. Unobservable (Level 3) Inputs The following table presents quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements: Valuation Weighted Fair Value Technique Unobservable Inputs Average At March 31, 2016 (Unaudited): Collateral-dependent $ 823,957 Market comparable Marketability impaired loans properties discount 10% - 15% (10.5%) Mortgage servicing rights 75,530 Discounted Constant cash flow prepayment rate 8.0% - 16% (11.5%) Probability of default 1% - 8% (1.9%) Discount rate 7.6% - 12% (10.5%) At December 31, 2015: Other real estate owned $ 202,100 Market comparable Comparability properties adjustment (%) Not available Collateral-dependent Market comparable Marketability impaired loans 1,274,372 properties discount 10% - 15% (11.4%) Mortgage servicing rights 83,176 Discounted Constant cash flow prepayment rate 8.8% - 16% (11.9%) Probability of default 1% - 8% (1.6%) Discount rate 5.6% - 12.0% (10.4%) Fair Value of Financial Instruments The following tables present estimated fair values of the Company’s financial instruments and the level within the fair value hierarchy in which the fair value measurements fall at March 31, 2016 and December 31, 2015. Fair Value Measurements Using Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Carrying Assets Inputs Inputs Amount (Level 1) (Level 2) (Level 3) (Unaudited) At March 31, 2016: Financial assets: Cash and cash equivalents $ 9,806,066 $ 9,806,066 $ - $ - FHLB Stock 686,200 - 686,200 - Loans held for sale 584,750 - 584,750 Loans, net of allowance for loan losses 107,849,345 - - 108,868,000 Accrued interest receivable 316,735 - 316,735 - Mortgage servicing rights 312,397 - - 591,526 Financial liabilities: Deposits 115,817,175 14,639,077 101,352,098 - FHLB advances 6,000,000 - 6,097,000 - Accrued interest payable 29,582 - 29,582 - Fair Value Measurements Using Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Carrying Assets Inputs Inputs Amount (Level 1) (Level 2) (Level 3) At December 31, 2015: Financial assets: Cash and cash equivalents $ 10,906,893 $ 10,906,893 $ - $ - FHLB Stock 686,200 - 686,200 - Loans, net of allowance for loan losses 106,955,455 - - 107,347,000 Accrued interest receivable 314,174 - 314,174 - Mortgage servicing rights 325,539 - - 612,290 Financial liabilities: Deposits 113,330,856 13,940,853 99,414,003 - Federal Home Loan Bank advances 8,000,000 - 8,063,000 - Accrued interest payable 6,137 - 6,137 - The following methods were used to estimate the fair value of all other financial instruments recognized in the accompanying balance sheets at amounts other than fair value. Cash and Cash Equivalents and Federal Home Loan Bank Stock The carrying amount approximates fair value. Loan Held for Sale The carrying amount approximates fair value due to the insignificant time between origination and date of sale. The carrying amount is the amount funded and accrued interest. Loans, Net of Allowance for Loan Losses Fair value is estimated by discounting the future cash flows using the market rates at which similar notes would be made to borrowers with similar credit ratings and for the same remaining maturities. The market rates used are based on current rates the Bank would impose for similar loans and reflect a market participant assumption about risks associated with nonperformance, illiquidity, and the structure and term of the loans along with local economic and market conditions. Accrued Interest Receivable and Payable The carrying amount approximates fair value. The carrying amount is determined using the interest rate, balance and last payment date. Deposits Fair value of term deposits is estimated by discounting the future cash flows using rates of similar deposits with similar maturities. The market rates used were obtained from a knowledgeable independent third party and reviewed by the Bank. The rates were the average of current rates offered by local competitors of the Bank. The estimated fair value of demand, savings and money market deposits is the book value since rates are regularly adjusted to market rates and amounts are payable on demand at the reporting date. Federal Home Loan Bank Advances Fair value is estimated by discounting the future cash flows using rates of similar advances with similar maturities. These rates were obtained from current rates offered by the FHLB.

Accounting Developments

Accounting Developments	3 Months Ended
	Mar. 31, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Accounting Developments	Note 7: Accounting Developments Financial Accounting Standards Board (“FASB”) In May 2014, the FASB issued ASU2014-09, “Revenue from contracts with Customers” (Topic 606) In April 2015, the Financial Accounting Standards Board (FASB) issued ASU2015-03 “Interest-imputation of interest” (Subtopic 835-30 This update will be effective for interim and annual periods beginning after December 15, 2015, and is to be applied retrospectively. The adoption of this guidance is not expected to have a significant effect on the Company’s consolidated financial statements. In September 2015, the FASB issued ASU 2015-16 , “Business Combinations: Simplifying the Accounting for Measurement –Period Adjustments (Topic 805)”.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Note 8: Earnings (Loss) Per Share Three Months Ended March 31, Three Months Ended March 31, 2016 2015 (Unaudited) (Unaudited) Net Income (Loss) $ (59,669 ) $ 30,275 Shares outstanding for basic EPS (LPS): Average shares outstanding 667,898 667,898 Less: Average unearned ESOP shares 48,973 51,110 618,925 616,788 Additional dilutive shares - - Shares outstanding for basic and diluted EPS (LPS) 618,925 616,788 Basic and diluted earnings (loss) per share $ (0.10 ) $ 0.05

Accounting Policies (Policies)

Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements were prepared in accordance with instructions for Form 10-Q and Rule 10-01 of Regulation S-X and, therefore, certain information or footnotes necessary for a complete presentation of financial position, results of operations, and cash flows in conformity with U.S. generally accepted accounting principles (GAAP) for interim financial information have been condensed or omitted pursuant to such rules and regulations. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates used in the preparation of the financial statements are based on various factors including the current interest rate environment and the general strength of the local economy. Changes in the overall interest rate environment can significantly affect the Company’s net interest income and the value of its recorded assets and liabilities. Actual results could differ from those estimates used in the preparation of the financial statements. However, in the opinion of management, all adjustments (consisting of only normal recurring accruals) which are necessary for a fair presentation of the financial statements have been included. The results of operations for the three-month period ended March 31, 2016, are not necessarily indicative of the results which may be expected for the entire year. Accordingly, these financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto of the Company as of December 31, 2015 included in Edgewater Bancorp, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2015.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Edgewater Bancorp, Inc. and its wholly owned subsidiary, Edgewater Bank. All significant intercompany accounts and transactions have been eliminated in consolidation.
Accounting Developments	Accounting Developments Financial Accounting Standards Board (“FASB”) In May 2014, the FASB issued ASU2014-09, “Revenue from contracts with Customers” (Topic 606) In April 2015, the Financial Accounting Standards Board (FASB) issued ASU2015-03 “Interest-imputation of interest” (Subtopic 835-30 This update will be effective for interim and annual periods beginning after December 15, 2015, and is to be applied retrospectively. The adoption of this guidance is not expected to have a significant effect on the Company’s consolidated financial statements. In September 2015, the FASB issued ASU 2015-16 , “Business Combinations: Simplifying the Accounting for Measurement –Period Adjustments (Topic 805)”.

Securities (Tables)

Securities (Tables)	3 Months Ended
	Mar. 31, 2016
Investments Debt And Equity Securities [Abstract]
Schedule of amortized cost and approximate fair values with gross unrealized gains and losses of securities	March 31, 2016 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value (Unaudited) Available-for-sale securities: U.S. Government and federal agency $ 6,410,592 $ 3,880 $ 5,067 $ 6,409,405 State and political subdivisions 2,554,477 8,628 2,090 2,561,015 Mortgage-backed -Government- Sponsored Enterprise (GSE)-residential 2,351,752 18,542 5,309 2,364,985 Collateralized mortgage obligations-GSE 576,865 5,057 - 581,922 Total available-for-sale securities $ 11,893,686 $ 36,107 $ 12,466 $ 11,917,327 December 31, 2015 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value Available-for-sale securities: U.S. Government and federal agency $ 5,952,239 $ 925 $ 28,222 $ 5,924,942 State and political subdivisions 2,555,544 8,357 5,015 2,558,886 Mortgage-backed -Government- Sponsored Enterprise (GSE)-residential 2,566,762 14,222 10,728 2,570,256 Collateralized mortgage obligations-GSE 653,493 6,161 - 659,654 Total available-for-sale securities $ 11,728,038 $ 29,665 $ 43,965 $ 11,713,738
Schedule of amortized cost and fair value of available-for-sale securities by contractual maturity	March 31, 2016 December 31, 2015 Amortized Fair Amortized Fair Cost Value Cost Value (Unaudited) Within one year $ 500,060 $ 500,800 $ 1,000,596 $ 1,004,319 After one through five years 8,465,009 8,469,620 7,507,187 7,479,509 8,965,069 8,970,420 8,507,783 8,483,828 Mortgage-backed - GSE residential 2,351,752 2,364,985 2,566,762 2,570,256 Collateralized mortgage obligations-GSE 576,865 581,922 653,493 659,654 $ 11,893,686 $ 11,917,327 $ 11,728,038 $ 11,713,738
Schedule of gross unrealized losses and fair value of investments with unrealized losses in a continuous unrealized loss position	March 31, 2016 Less than 12 Months 12 Months or Longer Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (Unaudited) Available-for-sale securities: U.S. Government and federal agency $ 3,537,624 $ 3,112 $ 997,083 $ 1,955 $ 4,534,707 $ 5,067 State and political subdivisions - - 497,910 2,090 497,910 2,090 Mortgage-backed -GSE residential 926,891 5,309 - - 926,891 5,309 $ 4,464,515 $ 8,421 $ 1,494,993 $ 4,045 $ 5,959,508 $ 12,466 December 31, 2015 Less than 12 Months 12 Months or Longer Total Gross Gross Gross Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Available-for-sale securities: U.S. Government and federal agency $ 3,524,074 $ 19,656 $ 990,379 $ 8,566 $ 4,514,453 $ 28,222 State and political subdivisions - - 494,985 5,015 494,985 5,015 Mortgage-backed -GSE residential 1,602,805 10,728 - - 1,602,805 10,728 $ 5,126,879 $ 30,384 $ 1,485,364 $ 13,581 $ 6,612,243 $ 43,965

Loans and Allowance (Tables)

Loans and Allowance (Tables)	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
Schedule of classes of loans	March 31, December 31, 2016 2015 (Unaudited) Real estate loans: Residential 1-4 family $ 44,548,538 $ 45,402,431 Commercial 34,125,440 32,374,013 Construction and land 3,983,938 1,975,842 Total real estate 82,657,916 79,752,286 Commercial and industrial 6,839,642 8,147,480 Warehouse line 10,000,000 10,000,000 Consumer loans: Home equity loans and lines of credit 8,234,164 9,003,016 Other consumer loans 1,170,684 1,101,856 Total consumer 9,404,848 10,104,872 Gross loans 108,902,406 108,004,638 Net deferred loan fees (21,254 ) (26,191 ) Allowance for loan losses 1,074,315 1,075,374 Net loans $ 107,849,345 $ 106,955,455
Schedule of activity in allowance for loan losses and the recorded investment in loans based on portfolio segment and impairment method	The following presents by portfolio segment, the activity in the allowance for loan losses: Residential Commercial Commercial Warehouse 1-4 Family Real Estate and Industrial Line Consumer Total (Unaudited) Three Months Ended March 31, 2016: Balance, beginning of period $ 337,230 $ 504,023 $ 69,337 $ 60,787 $ 103,997 $ 1,075,374 Provision (credit) for loan losses (35,318 ) 101,860 (43,180 ) (6,155 ) (17,207 ) - Loans charged to the allowance (2,020 ) - - - - (2,020 ) Recoveries of loans previously charged off 562 399 - - - 961 Balance, end of period $ 300,454 $ 606,282 $ 26,157 $ 54,632 $ 86,790 $ 1,074,315 Three Months Ended March 31, 2015: Balance, beginning of period $ 222,618 $ 503,621 $ 248,388 $ - $ 100,724 $ 1,075,351 Provision (credit) for loan losses (15,535 ) 20,742 (21,672 ) 28,812 (12,347 ) - Loans charged to the allowance - (5,364 ) - - - (5,364 ) Recoveries of loans previously charged off - 1,100 - - - 1,100 Balance, end of period $ 207,083 $ 520,099 $ 226,716 $ 28,812 $ 88,377 $ 1,071,087 The following presents the allowance for loan losses and the recorded investment in loans based on portfolio segment and impairment method as of March 31, 2016 and December 31, 2015: Residential Commercial Commercial Warehouse 1-4 Family Real Estate and Industrial Line Consumer Total (Unaudited) At March 31, 2016: Allowance: Balance, end of period $ 300,454 $ 606,282 $ 26,157 $ 54,632 $ 86,790 $ 1,074,315 Ending balance: individually evaluated for impairment $ 8,175 $ 251 $ - $ - $ 347 $ 8,773 Ending balance: collectively evaluated for impairment $ 292,279 $ 606,031 $ 26,157 $ 54,632 $ 86,443 $ 1,065,542 Loans: Ending balance $ 44,548,538 $ 38,109,378 $ 6,839,642 $ 10,000,000 $ 9,404,848 $ 108,902,406 Ending balance individually evaluated for impairment $ 1,367,743 $ 287,673 $ - $ - $ 117,216 $ 1,772,632 Ending balance collectively evaluated for impairment $ 43,180,795 $ 37,821,705 $ 6,839,642 $ 10,000,000 $ 9,287,632 $ 107,129,774 Residential Commercial Commercial Warehouse 1-4 Family Real Estate and Industrial Line Consumer Total At December 31, 2015: Allowance: Balance, end of period $ 337,230 $ 504,023 $ 69,337 $ 60,787 $ 103,997 $ 1,075,374 Ending balance: individually evaluated for impairment $ 13,969 $ 302 $ - $ - $ 372 $ 14,643 Ending balance: collectively evaluated for impairment $ 323,261 $ 503,721 $ 69,337 $ 60,787 $ 103,625 $ 1,060,731 Loans: Ending balance $ 45,402,431 $ 34,349,855 $ 8,147,480 $ 10,000,000 $ 10,104,872 $ 108,004,638 Ending balance individually evaluated for impairment $ 2,051,278 $ 315,658 $ - $ - $ 122,809 $ 2,489,745 Ending balance collectively evaluated for impairment $ 43,351,153 $ 34,034,197 $ 8,147,480 $ 10,000,000 $ 9,982,063 $ 105,514,893
Schedule of credit risk profile of the Bank's loan portfolio based on internal rating category and payment activity	The following tables present the credit risk profile of the Company’s loan portfolio based on rating category and payment activity as of March 31, 2016: Residential Commercial Construction Commercial Warehouse Other 1-4 Family Real Estate and Land and Industrial Line Home Equity Consumer Total (Unaudited) Pass (1-5) $ 43,967,789 $ 32,348,698 $ 3,975,380 $ 6,839,642 $ 10,000,000 $ 8,193,326 $ 1,170,684 $ 106,495,519 Special Mention (6) - - - - - - - - Substandard (7) 580,749 1,776,742 8,558 - - 40,838 - 2,406,887 Doubtful (8) - - - - - - - - Loss (9) - - - - - - - - Total $ 44,548,538 $ 34,125,440 $ 3,983,938 $ 6,839,642 $ 10,000,000 $ 8,234,164 $ 1,170,684 $ 108,902,406 The following tables present the credit risk profile of the Company’s loan portfolio based on rating category and payment activity as of December 31, 2015: Residential Commercial Construction Commercial Warehouse Other 1-4 Family Real Estate and Land and Industrial Line Home Equity Consumer Total Pass (1-5) $ 44,838,588 $ 30,037,894 $ 1,966,182 $ 8,147,480 $ 10,000,000 $ 9,003,016 $ 1,101,856 $ 105,095,016 Special Mention (6) - 1,553,936 - - - - - 1,553,936 Substandard (7) 563,843 782,183 9,660 - - - - 1,355,686 Doubtful (8) - - - - - - - - Loss (9) - - - - - - - - Total $ 45,402,431 $ 32,374,013 $ 1,975,842 $ 8,147,480 $ 10,000,000 $ 9,003,016 $ 1,101,856 $ 108,004,638
Schedule of the Bank's loan portfolio aging analysis of the recorded investment in loans	The following tables present the Company’s loan portfolio aging analysis as of March 31, 2016: Total Loans > 30-59 Days 60-89 Days Greater Than Total Total 90 Days & Past Due Past Due 90 Days Past Due Current Loans Accruimg (Unaudited) Residential 1-4 family $ 760,462 $ 156,835 $ 580,749 $ 1,498,046 $ 43,050,492 $ 44,548,538 $ - Commercial real estate - - 9,715 9,715 34,115,725 34,125,440 - Construction and land 21,402 - 8,558 29,960 3,953,978 3,983,938 - Commercial and industrial - - - - 6,839,642 6,839,642 - Warehouse Line - - - - 10,000,000 10,000,000 - Home equity 38,668 2,913 - 41,581 8,192,583 8,234,164 - Other consumer 1,996 - - 1,996 1,168,688 1,170,684 - $ 822,528 $ 159,748 $ 599,022 $ 1,581,298 $ 107,321,108 $ 108,902,406 $ - The following tables present the Company’s loan portfolio aging analysis as of December 31, 2015: Total Loans > 30-59 Days 60-89 Days Greater Than Total Total 90 Days & Past Due Past Due 90 Days Past Due Current Loans Accruimg Residential 1-4 family $ 1,124,518 $ 312,454 $ 555,497 $ 1,992,469 $ 43,409,962 $ 45,402,431 $ - Commercial real estate 9,715 - - 9,715 32,364,298 32,374,013 - Construction and land - 23,118 9,660 32,778 1,943,064 1,975,842 - Commercial and industrial 99,541 - - 99,541 8,047,939 8,147,480 - Warehouse Line - - - - 10,000,000 10,000,000 - Home equity 72,128 10,288 8,309 90,725 8,912,291 9,003,016 - Other consumer - 2,852 - 2,852 1,099,004 1,101,856 - $ 1,305,902 $ 348,712 $ 573,466 $ 2,228,080 $ 105,776,558 $ 108,004,638 $ -
Schedule of the bank's nonaccrual loans	March 31 December 31, 2016 2015 (Unaudited) Residential 1-4 family $ 580,749 $ 1,233,905 Commercial real estate 9,715 9,715 Construction and land 8,558 32,777 Commercial and industrial - - Warehouse Line - - Home equity 40,838 43,712 Other consumer - - $ 639,860 $ 1,320,109
Schedule of impaired loans and specific valuation allowance based on class level	The following table presents impaired loans and specific valuation allowance based on class level at March 31, 2016: Residential Commercial Construction Commercial Warehouse 1-4 Family Real Estate and Land and Industrial Line Home Equity Total (Unaudited) Impaired loans without a specific allowance: Recorded investment $ 594,124 $ 269,400 $ - $ - $ - $ 76,378 $ 939,902 Unpaid principal balance 663,903 269,400 - - - 76,378 1,009,681 Impaired loans with a specific allowance: Recorded investment 773,619 9,715 8,558 - - 40,838 832,730 Unpaid principal balance 798,921 11,111 9,116 - - 44,161 863,309 Specific allowance 8,175 151 100 - - 347 8,773 Total impaired loans: Recorded investment 1,367,743 279,115 8,558 - - 117,216 1,772,632 Unpaid principal balance 1,462,824 280,511 9,116 - - 120,539 1,872,990 Specific allowance 8,175 151 100 - - 347 8,773 The following table presents impaired loans and specific valuation allowance based on class level at December 31, 2015: Residential Commercial Construction Commercial Warehouse 1-4 Family Real Estate and Land and Industrial Line Home Equity Total Impaired loans without a specific allowance: Recorded investment $ 848,467 $ 273,166 $ - $ - $ - $ 79,097 $ 1,200,730 Unpaid principal balance 921,718 273,166 - - - 79,097 1,273,981 Impaired loans with a specific allowance: Recorded investment 1,202,811 9,715 32,777 - - 43,712 1,289,015 Unpaid principal balance 1,259,063 11,111 36,696 - - 45,687 1,352,557 Specific allowance 13,969 129 173 - - 372 14,643 Total impaired loans: Recorded investment 2,051,278 282,881 32,777 - - 122,809 2,489,745 Unpaid principal balance 2,180,781 284,277 36,696 - - 124,784 2,626,538 Specific allowance 13,969 129 173 - - 372 14,643
Schedule of average recorded investment recognized on impaired loans by portfolio class	Residential Commercial Construction Commercial Warehouse 1-4 Family Real Estate and Land and Industrial Line Home Equity Total (Unaudited) Average recorded investment in impaired loans for the three months ended March 31, 2016 $ 1,319,341 $ 280,998 $ 8,558 $ - $ - $ 120,012 $ 1,728,909 Average recorded investment in impaired loans for the three months ended March 31, 2015 $ 1,786,178 $ 295,734 $ 330,402 $ - $ - $ 153,885 $ 2,566,199

Disclosures About Fair Value 20

Disclosures About Fair Value of Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of fair value measurements of assets measured at fair value on a recurring basis	March 31, 2016 Fair Value Measurements Using Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Fair Assets Inputs Inputs Assets Value (Level 1) (Level 2) (Level 3) (Unaudited) Available-for-sale securities: U.S. Government and federal agency $ 6,409,405 $ - $ 6,409,405 $ - State and political subdivisions 2,561,015 - 2,561,015 - Mortgage-backed - GSE residential 2,364,985 - 2,364,985 - Collateralized mortgage obligations-GSE 581,922 - 581,922 - Mortgage servicing rights 75,530 - - 75,530 December 31, 2015 Fair Value Measurements Using Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Fair Assets Inputs Inputs Assets Value (Level 1) (Level 2) (Level 3) Available-for-sale securities: U.S. Government and federal agency $ 5,924,942 $ - $ 5,924,942 $ - State and political subdivisions 2,558,886 - 2,558,886 - Mortgage-backed - GSE residential 2,570,256 - 2,570,256 - Collateralized mortgage obligations-GSE 659,654 - 659,654 - Mortgage servicing rights 83,176 - - 83,176
Schedule of reconciliation of the beginning and ending balances of recurring fair value measurements recognized using significant unobservable (Level 3) inputs	Three Months Ended 2016 2015 (Unaudited) Balance, beginning of period $ 83,176 $ 114,193 Total changes in fair value included in earnings (7,646 ) (5,439 ) Balance, end of period $ 75,530 $ 108,754
Schedule of fair value measurement of assets and liabilities measured at fair value on a nonrecurring basis	Fair Value Measurements Using Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Fair Assets Inputs Inputs Assets Value (Level 1) (Level 2) (Level 3) March 31, 2016 (Unaudited) Collateral-dependent impaired loans, $ 823,957 $ - $ - $ 823,957 Net of ALLL December 31, 2015 Other real estate owned $ 202,100 $ - $ - $ 202,100 Collateral-dependent impaired loans, 1,274,372 - - 1,274,372 Net of ALLL
Schedule of quantitative information about unobservable inputs used in recurring and nonrecurring Level 3 fair value measurements other than goodwill	Valuation Weighted Fair Value Technique Unobservable Inputs Average At March 31, 2016 (Unaudited): Collateral-dependent $ 823,957 Market comparable Marketability impaired loans properties discount 10% - 15% (10.5%) Mortgage servicing rights 75,530 Discounted Constant cash flow prepayment rate 8.0% - 16% (11.5%) Probability of default 1% - 8% (1.9%) Discount rate 7.6% - 12% (10.5%) At December 31, 2015: Other real estate owned $ 202,100 Market comparable Comparability properties adjustment (%) Not available Collateral-dependent Market comparable Marketability impaired loans 1,274,372 properties discount 10% - 15% (11.4%) Mortgage servicing rights 83,176 Discounted Constant cash flow prepayment rate 8.8% - 16% (11.9%) Probability of default 1% - 8% (1.6%) Discount rate 5.6% - 12.0% (10.4%)
Schedule of estimated fair values of the Company's financial instruments	Fair Value Measurements Using Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Carrying Assets Inputs Inputs Amount (Level 1) (Level 2) (Level 3) (Unaudited) At March 31, 2016: Financial assets: Cash and cash equivalents $ 9,806,066 $ 9,806,066 $ - $ - FHLB Stock 686,200 - 686,200 - Loans held for sale 584,750 - 584,750 Loans, net of allowance for loan losses 107,849,345 - - 108,868,000 Accrued interest receivable 316,735 - 316,735 - Mortgage servicing rights 312,397 - - 591,526 Financial liabilities: Deposits 115,817,175 14,639,077 101,352,098 - FHLB advances 6,000,000 - 6,097,000 - Accrued interest payable 29,582 - 29,582 - Fair Value Measurements Using Quoted Prices in Significant Active Markets Other Significant for Identical Observable Unobservable Carrying Assets Inputs Inputs Amount (Level 1) (Level 2) (Level 3) At December 31, 2015: Financial assets: Cash and cash equivalents $ 10,906,893 $ 10,906,893 $ - $ - FHLB Stock 686,200 - 686,200 - Loans, net of allowance for loan losses 106,955,455 - - 107,347,000 Accrued interest receivable 314,174 - 314,174 - Mortgage servicing rights 325,539 - - 612,290 Financial liabilities: Deposits 113,330,856 13,940,853 99,414,003 - Federal Home Loan Bank advances 8,000,000 - 8,063,000 - Accrued interest payable 6,137 - 6,137 -

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of earnings per share	Three Months Ended March 31, Three Months Ended March 31, 2016 2015 (Unaudited) (Unaudited) Net Income (Loss) $ (59,669 ) $ 30,275 Shares outstanding for basic EPS (LPS): Average shares outstanding 667,898 667,898 Less: Average unearned ESOP shares 48,973 51,110 618,925 616,788 Additional dilutive shares - - Shares outstanding for basic and diluted EPS (LPS) 618,925 616,788 Basic and diluted earnings (loss) per share $ (0.10 ) $ 0.05

Nature of Operations and Conver

Nature of Operations and Conversion (Detail Textuals) - Plan of Conversion and Reorganization	1 Months Ended
	Jan. 16, 2014USD ($)$ / sharesshares
Nature Of Operations And Conversion [Line Items]
Shares issued to new company | shares	667,898
Issue price of common stock (in dollars per share) | $ / shares	$ 10
Offering costs | $	$ 1,455,000
Net proceeds from the stock offering | $	$ 4,690,000
Shares of common stock purchased under employee stock ownership plan (in shares) | shares	53,431
Purchase price (in dollars per share) | $ / shares	$ 10

Securities (Details)

Securities (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Available-for-sale securities:
Amortized Cost	$ 11,893,686	$ 11,728,038
Gross Unrealized Gains	36,107	29,665
Gross Unrealized Losses	12,466	43,965
Fair Value	11,917,327	11,713,738
U.S. Government and federal agency
Available-for-sale securities:
Amortized Cost	6,410,592	5,952,239
Gross Unrealized Gains	3,880	925
Gross Unrealized Losses	5,067	28,222
Fair Value	6,409,405	5,924,942
State and political subdivisions
Available-for-sale securities:
Amortized Cost	2,554,477	2,555,544
Gross Unrealized Gains	8,628	8,357
Gross Unrealized Losses	2,090	5,015
Fair Value	2,561,015	2,558,886
Mortgage-backed-Government-Sponsored Enterprise (GSE)-residential
Available-for-sale securities:
Amortized Cost	2,351,752	2,566,762
Gross Unrealized Gains	18,542	14,222
Gross Unrealized Losses	5,309	10,728
Fair Value	2,364,985	2,570,256
Collateralized mortgage obligations - GSE
Available-for-sale securities:
Amortized Cost	576,865	653,493
Gross Unrealized Gains	$ 5,057	$ 6,161
Gross Unrealized Losses
Fair Value	$ 581,922	$ 659,654

Securities (Details 1)

Securities (Details 1) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Amortized Cost
Within one year	$ 500,060	$ 1,000,596
After one through five years	8,465,009	7,507,187
Total amortized cost before mortgage-backed securities	8,965,069	8,507,783
Totals	11,893,686	11,728,038
Fair Value
Within one year	500,800	1,004,319
After one through five years	8,469,620	7,479,509
Total fair value before mortgage-backed securities	8,970,420	8,483,828
Totals	11,917,327	11,713,738
Mortgage-backed - GSE residential
Amortized Cost
Total amortized cost before mortgage-backed securities	2,351,752	2,566,762
Totals	2,351,752	2,566,762
Fair Value
Total fair value before mortgage-backed securities	2,364,985	2,570,256
Totals	2,364,985	2,570,256
Collateralized debt obligations
Amortized Cost
Total amortized cost before mortgage-backed securities	576,865	653,493
Totals	576,865	653,493
Fair Value
Total fair value before mortgage-backed securities	581,922	659,654
Totals	$ 581,922	$ 659,654

Securities (Details 2)

Securities (Details 2) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Fair Value
Less than 12 Months	$ 4,464,515	$ 5,126,879
12 Months or More	1,494,993	1,485,364
Total	5,959,508	6,612,243
Gross Unrealized Losses
Less than 12 Months	8,421	30,384
12 Months or Longer	4,045	13,581
Total	12,466	43,965
U.S. Government and federal agency
Fair Value
Less than 12 Months	3,537,624	3,524,074
12 Months or More	997,083	990,379
Total	4,534,707	4,514,453
Gross Unrealized Losses
Less than 12 Months	3,112	19,656
12 Months or Longer	1,955	8,566
Total	$ 5,067	$ 28,222
State and political subdivisions
Fair Value
Less than 12 Months
12 Months or More	$ 497,910	$ 494,985
Total	$ 497,910	$ 494,985
Gross Unrealized Losses
Less than 12 Months
12 Months or Longer	$ 2,090	$ 5,015
Total	2,090	5,015
Mortgage-backed - GSE residential
Fair Value
Less than 12 Months	$ 926,891	$ 1,602,805
12 Months or More
Total	$ 926,891	$ 1,602,805
Gross Unrealized Losses
Less than 12 Months	$ 5,309	$ 10,728
12 Months or Longer
Total	$ 5,309	$ 10,728

Securities (Detail Textuals)

Securities (Detail Textuals) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Investments Debt And Equity Securities [Abstract]
Carrying value of securities pledged as collateral to secure public deposits and for other purposes	$ 233,484	$ 246,401
Fai value of debt securities reported at an amount less than historical cost	$ 5,959,508	$ 6,612,243
Debt securities reported at an amount less than historical cost as percentage of investment portfolio	50.00%	56.00%

Loans and Allowance (Details)

Loans and Allowance (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for loan losses	$ 1,074,315	$ 1,075,374
Total loans, net	107,849,345	106,955,455
Loans Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	108,902,406	108,004,638
Net deferred loan fees	(21,254)	(26,191)
Allowance for loan losses	1,074,315	1,075,374	$ 1,071,087	$ 1,075,351
Total loans, net	107,849,345	106,955,455
Loans Receivable | Total real estate
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	82,657,916	79,752,286
Loans Receivable | Residential 1- 4 family
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	44,548,538	45,402,431
Allowance for loan losses	300,454	337,230	207,083	222,618
Loans Receivable | Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	34,125,440	32,374,013
Allowance for loan losses	504,023	1,075,374
Loans Receivable | Construction and land
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	3,983,938	1,975,842
Loans Receivable | Commercial and industrial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	6,839,642	8,147,480
Allowance for loan losses	26,157	69,337	226,716	$ 248,388
Loans Receivable | Warehouse Line
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	10,000,000	10,000,000
Allowance for loan losses	54,632	60,787	28,812
Loans Receivable | Total consumer
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	9,404,848	10,104,872
Allowance for loan losses	86,790	103,997	$ 88,377	$ 100,724
Loans Receivable | Home equity loans and lines of credit
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	8,234,164	9,003,016
Loans Receivable | Other consumer loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross loans	$ 1,170,684	$ 1,101,856

Loans and Allowance (Details 1)

Loans and Allowance (Details 1) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Dec. 31, 2015
Allowance for loan losses
Balance, beginning of period	$ 1,075,374
Provision (credit) for loan losses
Balance, end of period	$ 1,074,315
Allowance:
Balance, end of period	1,075,374		$ 1,074,315	$ 1,075,374
Loans Receivable
Allowance for loan losses
Balance, beginning of period	$ 1,075,374	$ 1,075,351
Provision (credit) for loan losses
Loans charged to the allowance	$ (2,020)	$ (5,364)
Recoveries of loans previously charged off	961	1,100
Balance, end of period	1,074,315	1,071,087
Allowance:
Balance, end of period	1,075,374	1,075,351	1,074,315	1,075,374
Ending balance: individually evaluated for impairment			8,773	14,643
Ending balance: collectively evaluated for impairment			1,065,542	1,060,731
Loans:
Ending balance			108,902,406	108,004,638
Ending balance individually evaluated for impairment			1,772,632	2,489,745
Ending balance collectively evaluated for impairment			107,129,774	105,514,893
Loans Receivable | Residential 1- 4 family
Allowance for loan losses
Balance, beginning of period	337,230	222,618
Provision (credit) for loan losses	(35,318)	$ (15,535)
Loans charged to the allowance	(2,020)
Recoveries of loans previously charged off	562
Balance, end of period	300,454	$ 207,083
Allowance:
Balance, end of period	300,454	207,083	300,454	337,230
Ending balance: individually evaluated for impairment			8,175	13,969
Ending balance: collectively evaluated for impairment			292,279	323,261
Loans:
Ending balance			44,548,538	45,402,431
Ending balance individually evaluated for impairment			1,367,743	2,051,278
Ending balance collectively evaluated for impairment			43,180,795	43,351,153
Loans Receivable | Commercial Real Estate including Construction and Land
Allowance for loan losses
Balance, beginning of period	504,023	503,621
Provision (credit) for loan losses	$ 101,860	20,742
Loans charged to the allowance		(5,364)
Recoveries of loans previously charged off	$ 399	1,100
Balance, end of period	606,282	520,099
Allowance:
Balance, end of period	606,282	503,621	606,282	504,023
Ending balance: individually evaluated for impairment			251	302
Ending balance: collectively evaluated for impairment			606,031	503,721
Loans:
Ending balance			38,109,378	34,349,855
Ending balance individually evaluated for impairment			287,673	315,658
Ending balance collectively evaluated for impairment			37,821,705	34,034,197
Loans Receivable | Commercial and Industrial
Allowance for loan losses
Balance, beginning of period	69,337	248,388
Provision (credit) for loan losses	$ (43,180)	$ (21,672)
Loans charged to the allowance
Recoveries of loans previously charged off
Balance, end of period	$ 26,157	$ 226,716
Allowance:
Balance, end of period	26,157	$ 248,388	$ 26,157	$ 69,337
Ending balance: individually evaluated for impairment
Ending balance: collectively evaluated for impairment			$ 26,157	$ 69,337
Loans:
Ending balance			$ 6,839,642	$ 8,147,480
Ending balance individually evaluated for impairment
Ending balance collectively evaluated for impairment			$ 6,839,642	$ 8,147,480
Loans Receivable | Warehouse Line
Allowance for loan losses
Balance, beginning of period	60,787
Provision (credit) for loan losses	$ (6,155)	$ 28,812
Loans charged to the allowance
Recoveries of loans previously charged off
Balance, end of period	$ 54,632	$ 28,812
Allowance:
Balance, end of period	54,632		$ 54,632	$ 60,787
Ending balance: individually evaluated for impairment
Ending balance: collectively evaluated for impairment			$ 54,632	$ 60,787
Loans:
Ending balance			$ 10,000,000	$ 10,000,000
Ending balance individually evaluated for impairment
Ending balance collectively evaluated for impairment			$ 10,000,000	$ 10,000,000
Loans Receivable | Consumer
Allowance for loan losses
Balance, beginning of period	103,997	$ 100,724
Provision (credit) for loan losses	$ (17,207)	$ (12,347)
Loans charged to the allowance
Recoveries of loans previously charged off
Balance, end of period	$ 86,790	$ 88,377
Allowance:
Balance, end of period	$ 86,790	$ 100,724	86,790	103,997
Ending balance: individually evaluated for impairment			347	372
Ending balance: collectively evaluated for impairment			86,443	103,625
Loans:
Ending balance			9,404,848	10,104,872
Ending balance individually evaluated for impairment			117,216	122,809
Ending balance collectively evaluated for impairment			$ 9,287,632	$ 9,982,063

Loans and Allowance (Details 2)

Loans and Allowance (Details 2) - Loans Receivable - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment [Line Items]
Total	$ 108,902,406	$ 108,004,638
Pass
Financing Receivable, Recorded Investment [Line Items]
Total	$ 106,495,519	105,095,016
Special mention
Financing Receivable, Recorded Investment [Line Items]
Total		1,553,936
Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	$ 2,406,887	$ 1,355,686
Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total
Loss
Financing Receivable, Recorded Investment [Line Items]
Total
Residential 1 - 4 Family
Financing Receivable, Recorded Investment [Line Items]
Total	$ 44,548,538	$ 45,402,431
Residential 1 - 4 Family | Pass
Financing Receivable, Recorded Investment [Line Items]
Total	$ 43,967,789	$ 44,838,588
Residential 1 - 4 Family | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total
Residential 1 - 4 Family | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	$ 580,749	$ 563,843
Residential 1 - 4 Family | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total
Residential 1 - 4 Family | Loss
Financing Receivable, Recorded Investment [Line Items]
Total
Commercial Real Estate
Financing Receivable, Recorded Investment [Line Items]
Total	$ 34,125,440	$ 32,374,013
Commercial Real Estate | Pass
Financing Receivable, Recorded Investment [Line Items]
Total	$ 32,348,698	30,037,894
Commercial Real Estate | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total		1,553,936
Commercial Real Estate | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	$ 1,776,742	$ 782,183
Commercial Real Estate | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total
Commercial Real Estate | Loss
Financing Receivable, Recorded Investment [Line Items]
Total
Construction and Land
Financing Receivable, Recorded Investment [Line Items]
Total	$ 3,983,938	$ 1,975,842
Construction and Land | Pass
Financing Receivable, Recorded Investment [Line Items]
Total	$ 3,975,380	$ 1,966,182
Construction and Land | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total
Construction and Land | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	$ 8,558	$ 9,660
Construction and Land | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total
Construction and Land | Loss
Financing Receivable, Recorded Investment [Line Items]
Total
Commercial and Industrial
Financing Receivable, Recorded Investment [Line Items]
Total	$ 6,839,642	$ 8,147,480
Commercial and Industrial | Pass
Financing Receivable, Recorded Investment [Line Items]
Total	$ 6,839,642	$ 8,147,480
Commercial and Industrial | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total
Commercial and Industrial | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total
Commercial and Industrial | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total
Commercial and Industrial | Loss
Financing Receivable, Recorded Investment [Line Items]
Total
Warehouse Line
Financing Receivable, Recorded Investment [Line Items]
Total	$ 10,000,000	$ 10,000,000
Warehouse Line | Pass
Financing Receivable, Recorded Investment [Line Items]
Total	$ 10,000,000	$ 10,000,000
Warehouse Line | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total
Warehouse Line | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total
Warehouse Line | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total
Warehouse Line | Loss
Financing Receivable, Recorded Investment [Line Items]
Total
Home Equity
Financing Receivable, Recorded Investment [Line Items]
Total	$ 8,234,164	$ 9,003,016
Home Equity | Pass
Financing Receivable, Recorded Investment [Line Items]
Total	$ 8,193,326	$ 9,003,016
Home Equity | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total
Home Equity | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total	$ 40,838
Home Equity | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total
Home Equity | Loss
Financing Receivable, Recorded Investment [Line Items]
Total
Other Consumer
Financing Receivable, Recorded Investment [Line Items]
Total	$ 1,170,684	$ 1,101,856
Other Consumer | Pass
Financing Receivable, Recorded Investment [Line Items]
Total	$ 1,170,684	$ 1,101,856
Other Consumer | Special mention
Financing Receivable, Recorded Investment [Line Items]
Total
Other Consumer | Substandard
Financing Receivable, Recorded Investment [Line Items]
Total
Other Consumer | Doubtful
Financing Receivable, Recorded Investment [Line Items]
Total
Other Consumer | Loss
Financing Receivable, Recorded Investment [Line Items]
Total

Loans and Allowance (Details 3)

Loans and Allowance (Details 3) - Loans Receivable - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 1,581,298	$ 2,228,080
Current	107,321,108	105,776,558
Total Loans	$ 108,902,406	$ 108,004,638
Total Loans > 90 Days & Accruing
30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 822,528	$ 1,305,902
60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	159,748	348,712
Greater Than 90 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	599,022	573,466
Residential 1- 4 family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	1,498,046	1,992,469
Current	43,050,492	43,409,962
Total Loans	$ 44,548,538	$ 45,402,431
Total Loans > 90 Days & Accruing
Residential 1- 4 family | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 760,462	$ 1,124,518
Residential 1- 4 family | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	156,835	312,454
Residential 1- 4 family | Greater Than 90 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	580,749	555,497
Commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	9,715	9,715
Current	34,115,725	32,364,298
Total Loans	$ 34,125,440	$ 32,374,013
Total Loans > 90 Days & Accruing
Commercial real estate | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		$ 9,715
Commercial real estate | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Commercial real estate | Greater Than 90 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 9,715
Construction and land
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	29,960	$ 32,778
Current	3,953,978	1,943,064
Total Loans	$ 3,983,938	$ 1,975,842
Total Loans > 90 Days & Accruing
Construction and land | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 21,402
Construction and land | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		$ 23,118
Construction and land | Greater Than 90 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 8,558	9,660
Commercial and industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		99,541
Current	$ 6,839,642	8,047,939
Total Loans	$ 6,839,642	$ 8,147,480
Total Loans > 90 Days & Accruing
Commercial and industrial | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		$ 99,541
Commercial and industrial | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Commercial and industrial | Greater Than 90 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Warehouse Line
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Current	$ 10,000,000	$ 10,000,000
Total Loans	$ 10,000,000	$ 10,000,000
Total Loans > 90 Days & Accruing
Warehouse Line | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Warehouse Line | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Warehouse Line | Greater Than 90 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due
Home equity
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 41,581	$ 90,725
Current	8,192,583	8,912,291
Total Loans	$ 8,234,164	$ 9,003,016
Total Loans > 90 Days & Accruing
Home equity | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 38,668	$ 72,128
Home equity | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 2,913	10,288
Home equity | Greater Than 90 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		8,309
Other consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 1,996	2,852
Current	1,168,688	1,099,004
Total Loans	$ 1,170,684	$ 1,101,856
Total Loans > 90 Days & Accruing
Other consumer | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due	$ 1,996
Other consumer | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due		$ 2,852
Other consumer | Greater Than 90 Days
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total Past Due

Loans and Allowance (Details 4)

Loans and Allowance (Details 4) - Loans Receivable - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	$ 639,860	$ 1,320,109
Residential 1- 4 family
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	580,749	1,233,905
Commercial real estate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	9,715	9,715
Construction and land
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	$ 8,558	$ 32,777
Commercial and industrial
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total
Warehouse Line
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total
Home equity
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total	$ 40,838	$ 43,712
Other consumer
Financing Receivable, Recorded Investment, Past Due [Line Items]
Total

Loans and Allowance (Details 5)

Loans and Allowance (Details 5) - Loans Receivable - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Impaired loans without a specific allowance:
Recorded investment	$ 939,902	$ 1,200,730
Unpaid principal balance	1,009,681	1,273,981
Impaired loans with a specific allowance:
Recorded investment	832,730	1,289,015
Unpaid principal balance	863,309	1,352,557
Specific allowance	8,773	14,643
Total impaired loans:
Recorded investment	1,772,632	2,489,745
Unpaid principal balance	1,872,990	2,626,538
Specific allowance	8,773	14,643
Residential 1 - 4 Family
Impaired loans without a specific allowance:
Recorded investment	594,124	848,467
Unpaid principal balance	663,903	921,718
Impaired loans with a specific allowance:
Recorded investment	773,619	1,202,811
Unpaid principal balance	798,921	1,259,063
Specific allowance	8,175	13,969
Total impaired loans:
Recorded investment	1,367,743	2,051,278
Unpaid principal balance	1,462,824	2,180,781
Specific allowance	8,175	13,969
Commercial Real Estate
Impaired loans without a specific allowance:
Recorded investment	269,400	273,166
Unpaid principal balance	269,400	273,166
Impaired loans with a specific allowance:
Recorded investment	9,715	9,715
Unpaid principal balance	11,111	11,111
Specific allowance	151	129
Total impaired loans:
Recorded investment	279,115	282,881
Unpaid principal balance	280,511	284,277
Specific allowance	$ 151	$ 129
Construction and Land
Impaired loans without a specific allowance:
Recorded investment
Unpaid principal balance
Impaired loans with a specific allowance:
Recorded investment	$ 8,558	$ 32,777
Unpaid principal balance	9,116	36,696
Specific allowance	100	173
Total impaired loans:
Recorded investment	8,558	32,777
Unpaid principal balance	9,116	36,696
Specific allowance	$ 100	$ 173
Commercial and Industrial
Impaired loans without a specific allowance:
Recorded investment
Unpaid principal balance
Impaired loans with a specific allowance:
Recorded investment
Unpaid principal balance
Specific allowance
Total impaired loans:
Recorded investment
Unpaid principal balance
Specific allowance
Warehouse Line
Impaired loans without a specific allowance:
Recorded investment
Unpaid principal balance
Impaired loans with a specific allowance:
Recorded investment
Unpaid principal balance
Specific allowance
Total impaired loans:
Recorded investment
Unpaid principal balance
Specific allowance
Home Equity
Impaired loans without a specific allowance:
Recorded investment	$ 76,378	$ 79,097
Unpaid principal balance	76,378	79,097
Impaired loans with a specific allowance:
Recorded investment	40,838	43,712
Unpaid principal balance	44,161	45,687
Specific allowance	347	372
Total impaired loans:
Recorded investment	117,216	122,809
Unpaid principal balance	120,539	124,784
Specific allowance	$ 347	$ 372

Loans and Allowance (Details 6)

Loans and Allowance (Details 6) - Loans Receivable - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Financing Receivable, Impaired [Line Items]
Average recorded investment in impaired loans	$ 1,728,909	$ 2,566,199
Residential 1 - 4 Family
Financing Receivable, Impaired [Line Items]
Average recorded investment in impaired loans	1,319,341	1,786,178
Commercial Real Estate
Financing Receivable, Impaired [Line Items]
Average recorded investment in impaired loans	280,998	295,734
Construction and Land
Financing Receivable, Impaired [Line Items]
Average recorded investment in impaired loans	$ 8,558	$ 330,402
Commercial and Industrial
Financing Receivable, Impaired [Line Items]
Average recorded investment in impaired loans
Warehouse Line
Financing Receivable, Impaired [Line Items]
Average recorded investment in impaired loans
Home Equity
Financing Receivable, Impaired [Line Items]
Average recorded investment in impaired loans	$ 120,012	$ 153,885

Loans and Allowance (Detail Tex

Loans and Allowance (Detail Textuals) - Loans Receivable	3 Months Ended		12 Months Ended
	Mar. 31, 2016USD ($)Loan	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income recognized	$ 11,622	$ 10,696	$ 41,740
Number of loans | Loan	10
Total Modification	$ 1,200,000

Disclosures About Fair Value 35

Disclosures About Fair Value of Assets and Liabilities (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Recurring Measurements
Totals	$ 11,917,327	$ 11,713,738
U.S. Government and federal agency
Recurring Measurements
Totals	6,409,405	5,924,942
State and political subdivisions
Recurring Measurements
Totals	2,561,015	2,558,886
Mortgage-backed - GSE residential
Recurring Measurements
Totals	2,364,985	2,570,256
Collateralized mortgage obligations - GSE
Recurring Measurements
Totals	$ 581,922	$ 659,654
Quoted Prices in Active Markets for Identical Assets (Level 1)
Recurring Measurements
Mortgage servicing rights
Significant Other Observable Inputs (Level 2)
Recurring Measurements
Mortgage servicing rights
Significant Unobservable Inputs (Level 3)
Recurring Measurements
Mortgage servicing rights	$ 591,526	$ 612,290
Recurring basis | Fair Value
Recurring Measurements
Mortgage servicing rights	75,530	83,176
Recurring basis | Fair Value | U.S. Government and federal agency
Recurring Measurements
Totals	6,409,405	5,924,942
Recurring basis | Fair Value | State and political subdivisions
Recurring Measurements
Totals	2,561,015	2,558,886
Recurring basis | Fair Value | Mortgage-backed - GSE residential
Recurring Measurements
Totals	2,364,985	2,570,256
Recurring basis | Fair Value | Collateralized mortgage obligations - GSE
Recurring Measurements
Totals	$ 581,922	$ 659,654
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1)
Recurring Measurements
Mortgage servicing rights
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. Government and federal agency
Recurring Measurements
Totals
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | State and political subdivisions
Recurring Measurements
Totals
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Mortgage-backed - GSE residential
Recurring Measurements
Totals
Mortgage servicing rights
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1) | Collateralized mortgage obligations - GSE
Recurring Measurements
Totals
Recurring basis | Significant Other Observable Inputs (Level 2)
Recurring Measurements
Mortgage servicing rights
Recurring basis | Significant Other Observable Inputs (Level 2) | U.S. Government and federal agency
Recurring Measurements
Totals	$ 6,409,405	$ 5,924,942
Recurring basis | Significant Other Observable Inputs (Level 2) | State and political subdivisions
Recurring Measurements
Totals	2,561,015	2,558,886
Recurring basis | Significant Other Observable Inputs (Level 2) | Mortgage-backed - GSE residential
Recurring Measurements
Totals	2,364,985	2,570,256
Recurring basis | Significant Other Observable Inputs (Level 2) | Collateralized mortgage obligations - GSE
Recurring Measurements
Totals	581,922	659,654
Recurring basis | Significant Unobservable Inputs (Level 3)
Recurring Measurements
Mortgage servicing rights	$ 75,530	$ 83,176
Recurring basis | Significant Unobservable Inputs (Level 3) | U.S. Government and federal agency
Recurring Measurements
Totals
Recurring basis | Significant Unobservable Inputs (Level 3) | State and political subdivisions
Recurring Measurements
Totals
Recurring basis | Significant Unobservable Inputs (Level 3) | Mortgage-backed - GSE residential
Recurring Measurements
Totals
Recurring basis | Significant Unobservable Inputs (Level 3) | Collateralized mortgage obligations - GSE
Recurring Measurements
Totals

Disclosures About Fair Value 36

Disclosures About Fair Value of Assets and Liabilities (Details 1) - Mortgage Servicing Rights - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Reconciliation of beginning and ending balances of recurring fair value measurements recognized using significant unobservable (Level 3) inputs
Balance, beginning of period	$ 83,176	$ 114,193
Total changes in fair value included in earnings	(7,646)	(5,439)
Balance, end of period	$ 75,530	$ 108,754

Disclosures About Fair Value 37

Disclosures About Fair Value of Assets and Liabilities (Details 2) - Nonrecurring basis - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Fair Value | Collateral-dependent impaired loans, net of ALLL
Nonrecurring Measurements
Assets measured at fair value	$ 823,957	$ 1,274,372
Fair Value | Other real estate owned
Nonrecurring Measurements
Assets measured at fair value		$ 202,100
Quoted Prices in Active Markets for Identical Assets (Level 1) | Collateral-dependent impaired loans, net of ALLL
Nonrecurring Measurements
Assets measured at fair value
Quoted Prices in Active Markets for Identical Assets (Level 1) | Other real estate owned
Nonrecurring Measurements
Assets measured at fair value
Significant Other Observable Inputs (Level 2) | Collateral-dependent impaired loans, net of ALLL
Nonrecurring Measurements
Assets measured at fair value
Significant Other Observable Inputs (Level 2) | Other real estate owned
Nonrecurring Measurements
Assets measured at fair value
Significant Unobservable Inputs (Level 3) | Collateral-dependent impaired loans, net of ALLL
Nonrecurring Measurements
Assets measured at fair value	$ 823,957	$ 1,274,372
Significant Unobservable Inputs (Level 3) | Other real estate owned
Nonrecurring Measurements
Assets measured at fair value		$ 202,100

Disclosures About Fair Value 38

Disclosures About Fair Value of Assets and Liabilities (Details 3) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Mortgage servicing rights
Quantitative information about unobservable inputs
Fair Value (in dollars)	$ 75,530
Level 3 | Collateral-dependent impaired loans | Market comparable properties
Quantitative information about unobservable inputs
Fair Value (in dollars)	$ 823,957	$ 1,274,372
Level 3 | Collateral-dependent impaired loans | Market comparable properties | Minimum
Quantitative information about unobservable inputs
Marketability discount	10.00%	10.00%
Level 3 | Collateral-dependent impaired loans | Market comparable properties | Maximum
Quantitative information about unobservable inputs
Marketability discount	15.00%	15.00%
Level 3 | Collateral-dependent impaired loans | Market comparable properties | Weighted Average
Quantitative information about unobservable inputs
Marketability discount	10.50%	11.40%
Level 3 | Mortgage servicing rights | Discounted cash flow
Quantitative information about unobservable inputs
Fair Value (in dollars)	$ 75,530	$ 83,176
Level 3 | Mortgage servicing rights | Discounted cash flow | Minimum
Quantitative information about unobservable inputs
Constant prepayment rate	8.00%	8.80%
Probability of default	1.00%	1.00%
Discount rate	7.60%	5.60%
Level 3 | Mortgage servicing rights | Discounted cash flow | Maximum
Quantitative information about unobservable inputs
Constant prepayment rate	16.00%	16.00%
Probability of default	8.00%	8.00%
Discount rate	12.00%	12.00%
Level 3 | Mortgage servicing rights | Discounted cash flow | Weighted Average
Quantitative information about unobservable inputs
Constant prepayment rate	11.50%	11.90%
Probability of default	1.90%	1.60%
Discount rate	10.50%	10.40%
Level 3 | Other real estate owned | Market comparable properties
Quantitative information about unobservable inputs
Fair Value (in dollars)		$ 202,100

Disclosures About Fair Value 39

Disclosures About Fair Value of Assets and Liabilities (Details 4) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Financial assets:
Accrued interest receivable	$ 316,735	$ 314,174
Quoted Prices in Active Markets for Identical Assets (Level 1)
Financial assets:
Cash and cash equivalents	$ 9,806,066	$ 10,906,893
FHLB Stock
Loans held for sale
Loans, net of allowance for loan losses
Accrued interest receivable
Mortgage servicing rights
Financial liabilities:
Deposits	$ 14,639,077	$ 13,940,853
FHLB advances
Accrued interest payable
Significant Other Observable Inputs (Level 2)
Financial assets:
Cash and cash equivalents
FHLB Stock	$ 686,200	$ 686,200
Loans held for sale	$ 584,750
Loans, net of allowance for loan losses
Accrued interest receivable	$ 316,735	$ 314,174
Mortgage servicing rights
Financial liabilities:
Deposits	$ 101,352,098	$ 99,414,003
FHLB advances	6,097,000	8,063,000
Accrued interest payable	$ 29,582	$ 6,137
Significant Unobservable Inputs (Level 3)
Financial assets:
Cash and cash equivalents
FHLB Stock
Loans held for sale
Loans, net of allowance for loan losses	$ 108,868,000	$ 107,347,000
Accrued interest receivable
Mortgage servicing rights	$ 591,526	$ 612,290
Financial liabilities:
Deposits
FHLB advances
Accrued interest payable
Carrying Amount
Financial assets:
Cash and cash equivalents	$ 9,806,066	$ 10,906,893
FHLB Stock	686,200	686,200
Loans held for sale	584,750
Loans, net of allowance for loan losses	107,849,345	106,955,455
Accrued interest receivable	316,735	314,174
Mortgage servicing rights	312,397	325,539
Financial liabilities:
Deposits	115,817,175	113,330,856
FHLB advances	6,000,000	8,000,000
Accrued interest payable	$ 29,582	$ 6,137

Earnings (Loss) Per Share (Deta

Earnings (Loss) Per Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Net Income (Loss)	$ (59,669)	$ 30,275
Shares outstanding for basic EPS:
Average shares outstanding	667,898	667,898
Less: Average unearned ESOP shares	48,973	51,110
Average shares outstanding, Total	618,925	616,788
Additional dilutive shares
Shares outstanding for basic and diluted EPS (LPS)	618,925	616,788
Basic and diluted earnings (loss) per share (in dollars per share)	$ (0.10)	$ 0.05