Farmers and Merchants Bancshares (FMFG) S-1 12 May 17 IPO registration Financial data

Document And Entity Information

Document And Entity Information	12 Months Ended
	Dec. 31, 2016
Document Information [Line Items]
Document Type	S1
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Entity Registrant Name	Farmers & Merchants Bancshares, Inc.
Entity Central Index Key	1,698,022
Entity Filer Category	Smaller Reporting Company

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Assets
Cash and due from banks	$ 12,334,358	$ 18,535,302
Federal funds sold and other interest-bearing deposits	978,557	1,657,537
Cash and cash equivalents	13,312,915	20,192,839
Certificate of deposit in other bank	100,000	100,000
Securities available for sale	34,385,939	23,644,584
Securities held to maturity	17,987,628	16,604,067
Federal Home Loan Bank stock, at cost	778,300	758,100
Mortgage loans held for sale	884,500	0
Loans, less allowance for loan losses of $2,363,086 and $2,583,445	295,286,572	268,249,402
Premises and equipment	5,449,678	5,647,933
Accrued interest receivable	956,963	850,923
Deferred income taxes	1,029,019	1,220,105
Other real estate owned	414,000	472,500
Bank owned life insurance	6,721,003	6,541,381
Other assets	2,524,842	1,028,162
Assets	379,831,359	345,309,996
Deposits
Noninterest-bearing	62,791,835	58,043,942
Interest-bearing	239,923,301	217,920,795
Total deposits	302,715,136	275,964,737
Securities sold under repurchase agreements	27,226,159	20,490,619
Federal Home Loan Bank of Atlanta advances	9,000,000	11,000,000
Accrued interest payable	141,903	137,968
Other liabilities	1,735,884	1,493,311
Liabilities	340,819,082	309,086,635
Stockholders' equity
Common stock, par value $.01 per share in 2016 and $10 per share in 2015, authorized 5,000,000 shares; issued and outstanding 1,656,390 shares in 2016 and 1,647,541 shares in 2015	16,564	16,475,415
Additional paid-in capital	26,562,919	9,889,659
Retained earnings	12,713,099	9,960,410
Accumulated other comprehensive income	(280,305)	(102,123)
Stockholders' Equity Attributable to Parent	39,012,277	36,223,361
Liabilities and Stockholders' Equity	$ 379,831,359	$ 345,309,996

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Loans and Leases Receivable, Allowance	$ 2,363,086	$ 2,583,445
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 10
Common Stock, Shares Authorized	5,000,000	5,000,000
Common Stock, Shares, Issued	1,656,390	1,647,541
Common Stock, Shares, Outstanding	1,656,390	1,647,541

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Interest income
Loans, including fees	$ 14,024,899	$ 13,809,312
Investment securities - taxable	762,383	479,217
Investment securities - tax exempt	501,530	367,030
Federal funds sold and other interest earning assets	62,685	49,842
Total interest income	15,351,497	14,705,401
Interest expense
Deposits	1,098,987	1,005,317
Securities sold under repurchase agreements	144,620	99,886
Federal Home Loan Bank advances and other borrowings	102,513	84,443
Total interest expense	1,346,120	1,189,646
Net interest income	14,005,377	13,515,755
Provision for loan losses	0	0
Net interest income after provision for loan losses	14,005,377	13,515,755
Noninterest income
Service charges on deposit accounts	758,075	748,310
Mortgage banking income	471,982	393,884
Bank owned life insurance income	179,622	72,264
Net (loss) gain on sale of securities	0	(5,508)
Gain (loss) on sale and write down of other real estate owned	(57,065)	550,474
Gain on sale of loans	0	107,830
Other fees and commissions	112,583	119,006
Total noninterest income	1,465,197	1,986,260
Noninterest expense
Salaries	4,661,703	4,240,524
Employee benefits	1,217,508	1,131,389
Occupancy	649,055	640,083
Furniture and equipment	649,865	609,458
Other	2,356,494	2,082,134
Total noninterest expense	9,534,625	8,703,588
Income before income taxes	5,935,949	6,798,427
Income taxes	2,026,820	2,530,205
Net income	$ 3,909,129	$ 4,268,222
Earnings per share - basic and diluted	$ 2.37	$ 2.61

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Net income	$ 3,909,129	$ 4,268,222
Securities available for sale
Net unrealized gain (loss) arising during the period	(294,248)	(148,511)
Reclassification adjustment for realized gains and losses included in net income	0	(8,179)
Total unrealized gain (loss) on investment securities available for sale	(294,248)	(156,690)
Income tax expense (benefit) relating to investment securities available for sale	(116,066)	(61,806)
Total other comprehensive income (loss)	(178,182)	(94,884)
Total comprehensive income	$ 3,730,947	$ 4,173,338

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders’ Equity - USD ($)	Total	Common stock [Member]	Additional paid-in capital [Member]	Retained earnings [Member]	Accumulated other comprehensive income [Member]
Beginning Balance at Dec. 31, 2014	$ 32,702,470	$ 16,285,440	$ 9,236,495	$ 7,187,774	$ (7,239)
Beginning Balance (in shares) at Dec. 31, 2014		1,628,544
Net income	4,268,222	$ 0	0	4,268,222	0
Unrealized loss on securities available for sale net of income tax benefit	(94,884)	0	0	0	(94,884)
Cash dividends	(1,045,586)	0	0	(1,045,586)	0
Dividends reinvested	393,139	$ 189,975	203,164	0	0
Dividends reinvested (in shares)		18,997
Transfer	0	$ 0	450,000	(450,000)	0
Ending Balance at Dec. 31, 2015	36,223,361	$ 16,475,415	9,889,659	9,960,410	(102,123)
Ending Balance (in shares) at Dec. 31, 2015		1,647,541
Net income	3,909,129	$ 0	0	3,909,129	0
Unrealized loss on securities available for sale net of income tax benefit	(178,182)	0	0	0	(178,182)
Par value change as a result of the holding company formation	0	(16,547,340)	16,547,340	0	0
Cash dividends	(1,156,440)	0	0	(1,156,440)	0
Dividends reinvested	214,409	$ 88,489	125,920	0	0
Dividends reinvested (in shares)		8,849
Ending Balance at Dec. 31, 2016	$ 39,012,277	$ 16,564	$ 26,562,919	$ 12,713,099	$ (280,305)
Ending Balance (in shares) at Dec. 31, 2016		1,656,390

Consolidated Statements of Cha7

Consolidated Statements of Changes in Stockholders’ Equity (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Other Comprehensive Income (Loss), Available-for-sale Securities, Tax, Portion Attributable to Parent	$ (116,066)	$ (61,806)
Common Stock, Dividends, Per Share, Cash Paid	$ 0.70	$ 0.64

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities
Interest received	$ 15,284,615	$ 14,669,641
Fees and commissions received	1,285,575	1,346,530
Interest paid	(1,342,185)	(1,197,946)
Proceeds from sale of mortgage loans held for sale	22,360,618	16,503,589
Origination of mortgage loans held for sale	(23,245,118)	(16,192,939)
Cash paid to suppliers and employees	(9,441,840)	(8,204,143)
Income taxes paid	(2,462,983)	(2,573,681)
Cash provided by operating activities	2,438,682	4,351,051
Proceeds from maturity and call of securities
Available for sale	8,101,190	4,753,161
Held to maturity	3,306,926	2,975,000
Proceeds from sale of securities
Available for sale	298,379	543,277
Held to maturity	0	517,125
Purchase of securities
Available for sale	(19,590,432)	(12,190,544)
Held to maturity	(4,692,897)	(5,560,761)
Loans made to customers, net of principal collected	(27,083,940)	(5,864,275)
Redemption (purchase) of stock in FHLB of Atlanta	(20,200)	(38,300)
Other real estate owned proceeds	0	1,021,820
Purchase of bank owned life insurance	0	(400,000)
Purchases of premises, equipment and software	(181,540)	(451,080)
Cash used by investing activities	(39,862,514)	(14,694,577)
Net increase (decrease) in
Noninterest-bearing deposits	4,747,893	5,983,509
Interest-bearing deposits	22,002,506	8,770,698
Securities sold under repurchase agreements	6,735,540	851,292
Federal Home Loan Bank of Atlanta advances	(2,000,000)	3,000,000
Dividends paid, net of reinvestments	(942,031)	(652,447)
Cash provided by financing activities	30,543,908	17,953,052
Net increase in cash and cash equivalents	(6,879,924)	7,609,526
Cash and cash equivalents at beginning of period	20,192,839	12,583,313
Cash and cash equivalents at end of period	13,312,915	20,192,839
Reconciliation of net income to net cash provided by operating activities
Net income	3,909,129	4,268,222
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	448,895	385,711
Net loss (gain) on sale of investment securities:
Available for sale	0	(8,179)
Held to maturity	0	13,687
Write down of other real estate owned	58,500	22,500
Net gain on sale of other real estate owned	0	(572,974)
Mutual fund dividend	(7,612)	0
Decrease (increase) in mortgage loans held for sale	(884,500)	310,650
Deferred income taxes	307,153	95,150
Amortization of premiums and accretion of discounts, net	165,281	73,509
Increase (decrease) in
Deferred loan fees	46,770	(53,264)
Accrued interest payable	3,935	(8,300)
Other liabilities	242,573	404,519
Decrease (increase) in
Accrued interest receivable	(106,040)	17,504
Bank owned life insurance cash surrender value	(179,622)	(72,264)
Other assets	(1,565,780)	(525,420)
Cash provided by operating activities	$ 2,438,682	$ 4,351,051

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	1. Summary of Significant Accounting Policies The accounting and reporting policies reflected in the financial statements conform to accounting principles generally accepted in the United States of America and to general practices within the banking industry. Management makes estimates and assumptions that affect the reported amounts of assets, liabilities, and disclosures of commitments and contingent liabilities at the balance sheet date, and revenues and expenses during the year. These estimates and assumptions may affect the reported amounts of revenue and expenses during the reporting period. Actual results could differ from these estimates. Principles of consolidation The consolidated financial statements include the accounts of Farmers and Merchants Bancshares, Inc. and its wholly owned subsidiaries, Farmers and Merchants Bank (the “Bank”), and Series Protected Cell FCB-4 (the “Insurance Subsidiary”), and one indirect subsidiary, Reliable Community Financial Services, Inc. (collectively the “Company”, “we”, “us”, or “our”). The Insurance Subsidiary is a series investment, 100% owned by the Company, in First Community Bankers Insurance Co., LLC, a Tennessee “series” limited liability company and licensed property and casualty insurance company. Intercompany balances and transactions have been eliminated. Farmers and Merchants Bancshares, Inc. was formed effective November 1, 2016 and the Insurance Subsidiary was formed effective November 7, 2016. Results prior to November 1, 2016 are solely attributable to Farmers and Merchants Bank and its subsidiary Reliable Community Financial Services, Inc. Business Farmers and Merchants Bank provides banking services to individuals and businesses located in Baltimore County, Maryland, Carroll County, Maryland and surrounding areas of northern Maryland. The Insurance Subsidiary is a captive insurance entity that provides insurance coverage for Farmers and Merchants Bank. Reliable Community Financial Services, Inc. can provide a wide range of investment and insurance products to its customers. Reclassifications Certain reclassifications have been made to the 2015 financial statements to conform to the current year presentation. These reclassifications had no effect on net income. Cash and cash equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, money market funds, and federal funds sold. Generally, federal funds are purchased and sold for one-day periods. Comprehensive income Comprehensive income includes net income and the unrealized gains or losses on investment securities available for sale, net of income taxes. Investment securities As securities are purchased, management determines if the securities should be classified as held to maturity or available for sale. Securities which management has the intent and ability to hold to maturity are recorded at amortized cost, which is cost adjusted for amortization of premiums and accretion of discounts to maturity. Securities held to meet liquidity needs or which may be sold before maturity are classified as available for sale and carried at fair value with unrealized gains and losses included in stockholders' equity on an after-tax basis. Gains and losses on disposal are determined using the specific-identification method. The Company amortizes premiums and accretes discounts using the interest method. Federal Home Loan Bank stock As a member of the Federal Home Loan Bank, the Bank is required to purchase stock based on its total assets. Additional stock is purchased and redeemed based on the outstanding Federal Home Loan Bank advances to the Bank. The stock is recorded at cost on the balance sheet. Loans and allowance for loan losses Loans are stated at the current amount of unpaid principal, adjusted for deferred origination costs, deferred origination fees, and the allowance for loan losses. Interest on loans is accrued based on the principal amounts outstanding. Origination fees and costs are amortized to income over the terms of loans. Past due status is based on the contractual terms of the loan. Management may make an exception to reporting a loan as past due, if the past due status is solely due to the loan being past maturity, the Company intends to extend the loan, and the borrower is making principal and interest payments in accordance with the terms of the matured note. The accrual of interest is discontinued when any portion of the principal or interest is 90 days past due and collateral is insufficient to discharge the debt in full. If collection of principal is evaluated as doubtful, all payments are applied to principal. Loans are considered impaired when, based on current information, management considers it unlikely that the collection of principal and interest payments will be made according to contractual terms. Generally, loans are not reviewed for impairment until the accrual of interest has been discontinued or are included on the watch list. The allowance for loan losses represents an amount which, in management’s judgment, will be adequate to absorb probable losses on existing loans and other extensions of credit that may become uncollectible. The Company’s allowance for loan losses consists of three elements: (i) specific valuation allowances determined based on probable losses on specific loans; (ii) historical valuation allowances determined based on historical loan loss experience for similar loans with similar characteristics; and (iii) adjustments to the historical valuation allowances based on general economic conditions and other qualitative risk factors both internal and external to the Company. The allowances established for probable losses on specific loans are based on a regular analysis and evaluation of problem loans. Management maintains a watch list of problem loans. Loans are classified based on an internal credit risk grading process that evaluates, among other things: (i) the obligor's ability to repay; (ii) the underlying collateral, if any; (iii) the economic environment; and (iv) for commercial borrowers, the industry in which the borrower operates. Specific valuation allowances are determined when the collateral value, if the loan is collateral dependent, or the discounted cash flows of the impaired loan is lower than the carrying value. Historical valuation allowances are calculated based on the historical loss experience of specific types of loans. The Company calculates historical loss ratios for pools of similar loans with similar characteristics based on the proportion of actual charge-offs experienced to the total population of loans in the pool over the prior eight to twenty quarters. As of December 31, 2016 and 2015, management used a twenty quarter period for the historical loss ratio. The historical loss ratios are updated quarterly based on actual charge-off experience. A historical valuation allowance is established for each pool of similar loans based upon the product of the historical loss ratio and the total dollar amount of the loans in the pool. Adjustments to the historical valuation allowances are based on general economic conditions and other qualitative risk factors both internal and external to the Company. In general, such adjustments are determined by evaluating, among other things: (i) the impact of economic conditions on the portfolio; (ii) changes in asset quality, including delinquency trends; (iii) the impact of changing interest rates on portfolio risk; (iv) changes in legislative and regulatory policy; (v) the composition and concentrations of credit; and (vi) the effectiveness of the internal loan review function. Management evaluates these qualitative factors on a quarterly basis. Each factor could result in an adjustment that is positive, negative, or no impact. Loan losses are charged to the allowance when management believes that collection is unlikely. Collections of loans previously charged off are added to the allowance at the time of recovery. Mortgage loans held for sale and mortgage banking income Mortgage loans held for sale are carried at the lower of aggregate cost or fair value based on the current fair value of each outstanding loan. Sales of loans are recorded when the proceeds are received, with any gain or loss recorded in mortgage banking income. The Company sells its mortgage loans to third party investors servicing released. Upon sale and delivery, loans are legally isolated from the Company and the Company has no ability to restrict or constrain the ability of third party investors to pledge or exchange the mortgage loans. The Company does not have the entitlement or ability to repurchase the mortgage loans or unilaterally cause third party investors to put the mortgage loans back to the Company. Premises and equipment Premises and equipment are recorded at cost less accumulated depreciation and amortization. Depreciation on buildings and equipment is computed over the estimated useful lives of the assets using the straight-line method. Leasehold improvements are amortized using the straight-line method over the term of the lease or the estimated useful lives of the asset, whichever is shorter. Other real estate owned Real estate acquired through foreclosure or by deed in lieu of foreclosure is recorded at the lower of cost or fair value less estimated costs to sell on the date acquired. Losses incurred at the time of acquisition of the property are charged to the allowance for loan losses. Subsequent reductions in the estimated value of the property are included with any gains or losses on sale in noninterest income. Income taxes The provision for income taxes includes income taxes payable for the current year and deferred income taxes. Deferred tax assets and liabilities are determined based on the difference between the financial statement bases and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Per share data Earnings per share are determined by dividing net income by the weighted average number of shares of common stock outstanding, giving retroactive effect to any stock dividends. Weighted average shares were 1,652,014 and 1,633,897 for 2016 and 2015, respectively. There are no potentially dilutive shares outstanding. Subsequent events The Company has evaluated events and transactions occurring subsequent to the statement of financial condition date of December 31, 2016 for items that should potentially be recognized or disclosed in these financial statements as prescribed by ASC Topic 855, Subsequent Events.

Restatement

Restatement	12 Months Ended
	Dec. 31, 2016
Accounting Changes and Error Corrections [Abstract]
Accounting Changes and Error Corrections [Text Block]	2. Restatement Subsequent to the issuance of our 2016 Annual Report, the Company identified an error in its 2016 annual consolidated financial statements related to income taxes. Income tax expense for the year ended December 31, 2016 was understated by $ 393,735 The Consolidated Balance Sheet, Consolidated Statement of Operations, Consolidated Statement of Comprehensive Income, Consolidated Statement of Stockholders’ Equity, and Consolidated Statement of Cash Flows, Notes 14, 15, 16, and 17 in these financial statements were updated to reflect the restatement. As previously Restatement reported adjustments As restated Cash and due from banks $ 13,504,081 $ (1,169,723) $ 12,334,358 Cash and cash equivalents 14,482,638 (1,169,723) 13,312,915 Deferred income taxes 1,420,891 (391,872) 1,029,019 Other assets 1,356,982 1,167,860 2,524,842 Total assets 380,225,094 (393,735) 379,831,359 Retained earnings 13,106,834 (393,735) 12,713,099 Total stockholders' equity 39,406,012 (393,735) 39,012,277 Total liabilities and stockholders' equity 380,225,094 (393,735) 379,831,359 Impacted Consolidated Statements of Income Accounts for the year ended December 31, 2016: As previously Restatement reported adjustments As restated Income taxes $ 1,633,085 $ 393,735 $ 2,026,820 Net income 4,302,864 (393,735) 3,909,129 Earnings per share - basic and diluted 2.60 (0.23) 2.37 Impacted Consolidated Statements of Cash Flows for the year ended December 31, 2016: As previously Restatement reported adjustments As restated Cash paid to suppliers and employees $ (8,272,117) $ (1,169,723) $ (9,441,840) Cash provided by operating activities 3,608,405 (1,169,723) 2,438,682 Net increase in cash and cash equivalents (5,710,201) (1,169,723) (6,879,924) Cash and cash equivalents at the end of period 14,482,638 (1,169,723) 13,312,915 Net income 4,302,864 (393,735) 3,909,129 Deferred income taxes (84,719) 391,872 307,153 Other assets (397,920) (1,167,860) (1,565,780) The Consolidated Statements of Comprehensive Income and Changes in Stockholders’ Equity were corrected for the $ 393,735

Cash and Equivalents

Cash and Equivalents	12 Months Ended
	Dec. 31, 2016
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents Disclosure [Text Block]	3. Cash and Equivalents The Company normally carries balances with other banks that exceed the federally insured limit. The average balance carried in excess of the limit, including unsecured federal funds sold to the same banks, was $7,042,956 and $7,772,791 during the years ended December 31, 2016 and 2015, respectively. Deposits held in noninterest-bearing transaction accounts are aggregated with any interest-bearing deposits the owner may hold in the same category. The combined total is insured up to $250,000. Banks are required to carry noninterest-bearing cash reserves of specified percentages of deposit balances. The Company's normal balances of cash on hand and on deposit with other banks are sufficient to satisfy the reserve requirements.

Investment Securities

Investment Securities	12 Months Ended
	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	4. Investment Securities Amortized Unrealized Unrealized Fair December 31, 2016 cost gains losses value Available for sale State and municipal $ 1,515,863 $ 62,512 $ 12,048 $ 1,566,327 Mutual fund 507,612 - 15,369 492,243 SBA pools 2,280,415 - 16,581 2,263,834 Mortgage-backed securities 30,544,941 20,139 501,545 30,063,535 $ 34,848,831 $ 82,651 $ 545,543 $ 34,385,939 Held to maturity State and municipal $ 17,987,628 $ 163,239 $ 317,068 $ 17,833,799 December 31, 2015 Available for sale State and municipal $ 1,253,031 $ 96,211 $ - $ 1,349,242 Mortgage-backed securities 22,524,260 37,120 266,038 22,295,342 $ 23,777,291 $ 133,331 $ 266,038 $ 23,644,584 Held to maturity U. S. government agency $ 2,960,758 $ 1,373 $ 33,231 $ 2,928,900 State and municipal 13,643,309 345,506 30,818 13,957,997 $ 16,604,067 $ 346,879 $ 64,049 $ 16,886,897 Available for Sale Held to Maturity Amortized Fair Amortized Fair December 31, 2016 cost value cost value Within one year $ 507,612 $ 492,243 $ - $ - Over one to five years - - - - Over five to ten years 1,136,919 1,163,288 2,657,130 2,702,121 Over ten years 378,944 403,039 15,330,498 15,131,678 2,023,475 2,058,570 17,987,628 17,833,799 Mortgage-backed securities and SBA pools, due in monthly installments 32,825,356 32,327,369 - - $ 34,848,831 $ 34,385,939 $ 17,987,628 $ 17,833,799 December 31, 2015 Within one year $ - $ - $ - $ - Over one to five years - - - - Over five to ten years 501,991 552,070 2,276,250 2,308,733 Over ten years 751,040 797,172 14,327,817 14,578,164 1,253,031 1,349,242 16,604,067 16,886,897 Mortgage-backed securities, due in monthly installments 22,524,260 22,295,342 - - $ 23,777,291 $ 23,644,584 $ 16,604,067 $ 16,886,897 Securities with a carrying value of $ 33,146,328 26,036,893 In 2016, the Company realized no gain or loss on the sale of one security with gross proceeds of $ 298,379 10,586 16,094 1,060,402 530,812 December 31, 2016 Less than 12 months 12 months or more Total Unrealized Unrealized Unrealized Description of investments Fair value losses Fair value losses Fair value losses State and municipal $ 8,558,230 $ 329,116 $ - $ - $ 8,558,230 $ 329,116 Mutual fund 492,243 15,369 - - 492,243 15,369 SBA pools 2,263,834 16,581 - - 2,263,834 16,581 Mortgage-backed securities 26,726,037 473,451 1,353,900 28,094 28,079,937 501,545 Total $ 38,040,344 $ 834,517 $ 1,353,900 $ 28,094 $ 39,394,244 $ 862,611 December 31, 2015 Less than 12 months 12 months or more Total Unrealized Unrealized Unrealized Description of investments Fair value losses Fair value losses Fair value losses U.S. government agency $ - $ - $ 1,927,527 $ 33,231 $ 1,927,527 $ 33,231 State and municipal 573,034 5,535 804,623 25,283 1,377,657 30,818 Mortgage-backed securities 15,299,536 156,187 3,431,902 109,851 18,731,438 266,038 Total $ 15,872,570 $ 161,722 $ 6,164,052 $ 168,365 $ 22,036,622 $ 330,087 Management has the ability and intent to hold securities classified as held to maturity until they mature, at which time the Company should receive full value for the securities. As of December 31, 2016, management did not have the intent to sell any of the securities before a recovery of cost. The unrealized losses are due to increases in market interest rates over the yields available at the time the underlying securities were purchased as well as other market conditions for each particular security based upon the structure and remaining principal balance. The fair values of the investment securities are expected to recover as the securities approach their maturity dates or repricing dates or if market yields for such investments decline. Based on the these factors, as of December 31, 2016, management believes the unrealized losses detailed in the table above are temporary and, accordingly, none of these unrealized losses have been recognized in the Company’s consolidated statement of income.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	5. Related Party Transactions Certain executive officers and directors of the Company, including members of their immediate families and companies in which they are significant owners (more than 10%), were indebted to the Company. The loans were made on the same terms, including interest rates and collateral, as those prevailing at the time for comparable loans with borrowers who are not related to the Company. During the years ended December 31, 2016 and 2015, the activity of these loans was as follows: 2016 2015 Balance, beginning of year $ 13,148,726 $ 12,732,702 Additions 3,987,121 3,473,398 Amounts collected (4,205,038) (3,057,374) Change in related parties (148,576) - Balance, end of year $ 12,782,233 $ 13,148,726 Unused lines of credit to related parties totaled $2,220,128 and $2,240,340, at December 31, 2016 and 2015, respectively. Letters of credit were issued to directors totaling $6,534 at December 31, 2016 and 2015, respectively. Deposits at the Company from related parties totaled $15,933,380 and $13,732,380 at December 31, 2016 and 2015, respectively. Payments to companies controlled by directors totaled $2,697 in 2016 and $90,479 in 2015. Payments to a retailer affiliated with a director totaled $82 in 2016 and $2,779 in 2015. Another director was paid $1,000 in 2016 and $3,000 in 2015 for his oversight of branch office repairs and maintenance. The Company occasionally utilizes the services of a real estate firm where another director was a partner, although no compensation was paid in 2016 or 2015.

Loans

Loans	12 Months Ended
	Dec. 31, 2016
Receivables [Abstract]
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	6. Loans 2016 2015 Real estate: Commercial $ 206,145,076 $ 186,703,868 Construction and land development 14,392,992 12,820,165 Residential 54,710,809 51,290,828 Commercial 22,152,773 19,562,302 Consumer 725,269 886,175 298,126,919 271,263,338 Less: Allowance for loan losses 2,363,086 2,583,445 Deferred origination fees net of costs 477,261 430,491 $ 295,286,572 $ 268,249,402 2016 2015 Variable rate, immediately $ 41,628,685 $ 27,803,011 Due within one year 48,381,221 33,826,370 Due over one to five years 126,810,275 153,408,126 Due over five years 81,306,738 56,225,831 $ 298,126,919 $ 271,263,338 2016 2015 Commercial real estate $ 752,889 $ 956,813 At December 31, 2016, the Company had two nonaccrual construction and land development loans to one borrower totaling $ 752,889 38,028 16,587 400,000 At December 31, 2015, the Company had two nonaccrual construction and land development loans to one borrower totaling $ 956,813 35,631 167,211 200,000 90 Days Past Due 90 30 - 59 Days 60 - 89 Days or More Total Total Days or More Past Due Past Due Past Due Past Due Current Loans and Accruing December 31, 2016 Real estate: Commercial $ - $ - $ - $ - $ 206,145,076 $ 206,145,076 $ - Construction and land development - - 752,889 752,889 13,640,103 14,392,992 - Residential 824,554 - - 824,554 53,886,255 54,710,809 - Commercial 48,719 - - 48,719 22,104,054 22,152,773 - Consumer - - - - 725,269 725,269 - Total $ 873,273 $ - $ 752,889 $ 1,626,162 $ 296,500,757 $ 298,126,919 $ - December 31, 2015 Real estate: Commercial $ - $ - $ - $ - $ 186,703,868 $ 186,703,868 $ - Construction and land development - - 956,813 956,813 11,863,352 12,820,165 - Residential - - - - 51,290,828 51,290,828 - Commercial - - - - 19,562,302 19,562,302 - Consumer - - - - 886,175 886,175 - Total $ - $ - $ 956,813 $ 956,813 $ 270,306,525 $ 271,263,338 $ - Unpaid Recorded Recorded Contractual Investment Investment Total Average Principal With No With Recorded Related Recorded Interest Balance Allowance Allowance Investment Allowance Investment Recognized December 31, 2016 Real estate: Commercial $ 2,455,090 $ 2,183,509 $ 241,580 $ 2,425,089 $ 7,580 $ 2,332,568 $ 125,260 Construction and land development 1,152,889 - 752,889 752,889 16,587 854,851 - Commercial 164,766 164,766 - 164,766 - 184,201 14,442 $ 3,772,745 $ 2,348,275 $ 994,469 $ 3,342,744 $ 24,167 $ 3,371,620 $ 139,702 December 31, 2015 Real estate: Commercial $ 2,240,046 $ 2,240,046 $ - $ 2,240,046 $ - $ 2,281,563 $ 115,663 Construction and land development 1,156,813 - 956,813 956,813 167,211 478,407 13,540 Commercial 203,635 203,635 - 203,635 - 220,421 15,644 $ 3,600,494 $ 2,443,681 $ 956,813 $ 3,400,494 $ 167,211 $ 2,980,391 $ 144,847 Impaired loans also include certain loans that have been modified in troubled debt restructurings (“TDRs”) where economic concessions have been granted to borrowers who have experienced or are expected to experience financial difficulties. These concessions typically result from the Company's loss mitigation activities and could include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance, or other actions. Certain TDRs are classified as nonperforming at the time of restructure and may only be returned to performing status after considering the borrower's sustained repayment performance for a reasonable period, generally six months. At December 31, 2016, the Company had three loans classified as a troubled debt restructuring. All are included in impaired loans above. The first is a commercial real estate loan with a balance of $ 2,183,509 164,766 271,580 241,580 30,000 7,580 At December 31, 2015, the Company had two loans classified as a troubled debt restructuring. Both are included in impaired loans above. The first is a commercial real estate loan with a balance of $ 2,240,046 203,635 As part of our portfolio risk management, the Company assigns a risk grade to each loan. The factors used to determine the grade are the payment history of the loan and the borrower, the value of the collateral and net worth of the guarantor, and cash flow projections of the borrower. Excellent, Above Average, Average and Acceptable grades are assigned to loans with limited or no delinquent payments and more than sufficient collateral and/or cash flow. A description of the general characteristics of loans characterized as watch list or classified is as follows: Pass/Watch Loans graded as Pass/Watch are secured by generally acceptable assets which reflect above-average risk. The loans warrant closer scrutiny by management than is routine, due to circumstances affecting the borrower, the borrower's industry, or the overall economic environment. Borrowers may reflect weaknesses such as inconsistent or weak earnings, break even or moderately deficit cash flow, thin liquidity, minimal capacity to increase leverage, or volatile market fundamentals or other industry risks. Such loans are typically secured by acceptable collateral, at or near appropriate margins, with realizable liquidation values. Special Mention A special mention loan has potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the Bank's credit position at some future date. Special mention loans are not adversely classified and do not expose the Bank to sufficient risk to warrant adverse classification. Borrowers may exhibit poor liquidity and leverage positions resulting from generally negative cash flow or negative trends in earnings. Access to alternative financing may be limited to finance companies for business borrowers and may be unavailable for commercial real estate borrowers. Substandard A substandard loan is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard loans have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Borrowers may exhibit recent or unexpected unprofitable operations, an inadequate debt service coverage ratio, or marginal liquidity and capitalization. These loans require more intense supervision by Bank management. Doubtful A doubtful loan has all the weaknesses inherent as a substandard loan 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. Loans by credit grade, segregated by loan type, at year-end, are as follows: Above Pass Special December 31, 2016 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ 9,584,756 $ 147,668,371 $ 32,474,566 $ 3,883,813 $ 8,644,563 $ 3,889,007 $ - $ 206,145,076 Construction and land development - 178,078 10,178,876 2,039,090 - 153,611 1,843,337 - 14,392,992 Residential 110,142 2,811,362 42,715,571 8,059,118 351,182 - 663,434 - 54,710,809 Commercial 1,666,880 77,745 18,469,572 1,228,598 545,212 164,766 - - 22,152,773 Consumer 42,577 121,306 476,465 51,339 - - 3,840 29,742 725,269 $ 1,819,599 $ 12,773,247 $ 219,508,855 $ 43,852,711 $ 4,780,207 $ 8,962,940 $ 6,399,618 $ 29,742 $ 298,126,919 Above Pass Special December 31, 2015 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ 11,100,467 $ 151,135,140 $ 11,019,894 $ 3,505,988 $ 6,162,661 $ 3,779,718 $ - $ 186,703,868 Construction and land development - 285,534 10,037,269 418,834 - - 2,078,528 - 12,820,165 Residential 181,662 3,478,378 43,722,191 2,502,477 731,122 - 674,998 - 51,290,828 Commercial 1,932,013 46,401 14,685,120 1,184,530 199,950 203,635 1,310,653 - 19,562,302 Consumer 67,862 253,706 481,073 11,207 46,802 - - 25,525 886,175 $ 2,181,537 $ 15,164,486 $ 220,060,793 $ 15,136,942 $ 4,483,862 $ 6,366,296 $ 7,843,897 $ 25,525 $ 271,263,338 Allowance for loan losses Outstanding loan Provision ending balance evaluated balances evaluated Beginning for loan Charge Ending for impairment: for impairment: December 31, 2016 balance losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 1,718,256 $ 29,493 $ (30,000) $ - $ 1,717,749 $ 7,580 $ 1,710,169 $ 2,425,089 $ 203,719,987 Construction and land development 306,982 97,878 (200,000) - 204,860 16,587 188,273 752,889 13,640,103 Residential 322,084 (184,773) - 110,126 247,437 - 247,437 - 54,710,809 Commercial 132,362 93,383 (100,485) - 125,260 - 125,260 164,766 21,988,007 Consumer 7,900 926 - - 8,826 - 8,826 - 725,269 Unallocated 95,861 (36,907) - - 58,954 - 58,954 - - $ 2,583,445 $ - $ (330,485) $ 110,126 $ 2,363,086 $ 24,167 $ 2,338,919 $ 3,342,744 $ 294,784,175 Allowance for loan losses Outstanding loan Provision ending balance evaluated balances evaluated Beginning for loan Charge Ending for impairment: for impairment: December 31, 2015 balance losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 1,848,163 $ (129,907) $ - $ - $ 1,718,256 $ - $ 1,718,256 $ 2,240,046 $ 184,463,822 Construction and land development 458,211 48,771 (200,000) - 306,982 167,211 139,771 956,813 11,863,352 Residential 278,943 42,299 - 842 322,084 - 322,084 - 51,290,828 Commercial 171,104 (41,096) - 2,354 132,362 - 132,362 203,635 19,358,667 Consumer 8,215 (315) - - 7,900 - 7,900 - 886,175 Unallocated 15,613 80,248 - - 95,861 - 95,861 - - $ 2,780,249 $ - $ (200,000) $ 3,196 $ 2,583,445 $ 167,211 $ 2,416,234 $ 3,400,494 $ 267,862,844 Loans with a balance of approximately $ 61 41 31.0 27.5 The Company makes loans to customers located primarily in Baltimore County and Carroll County, Maryland and in surrounding areas of northern Maryland. Although the loan portfolio is diversified, many loans are secured by real estate and its performance will be influenced by the economy of the region, including local real estate markets.

Premises and Equipment

Premises and Equipment	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	7. Premises and Equipment Useful lives 2016 2015 Land and improvements - $ 1,952,998 $ 1,952,998 Buildings and improvements 15-39 years 5,659,635 5,659,635 Furniture and equipment 3-10 years 3,490,526 3,308,986 11,103,159 10,921,619 Accumulated depreciation and amortization 5,653,481 5,273,686 $ 5,449,678 $ 5,647,933 Depreciation and amortization expense $ 379,795 $ 339,269 Software with a net book value of $ 185,253 251,983 $ 69,100 46,442

Lease Commitments

Lease Commitments	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
Leases of Lessee Disclosure [Text Block]	8. Lease Commitments The Company has an operating lease for the land on which the Hampstead branch is located. The initial term of the lease expired on September 30, 2009 and the lease has been renewed for two five year terms with an expiration date of September 30, 2019. The lease has options to renew for six additional consecutive five-year terms. Effective in July 2012, the Company entered into an operating lease for certain facilities where the Greenmount branch is located. The initial term of the lease is for five years with options to renew for two additional consecutive five-year terms. The Company has an operating lease for its Atrium branch facility with a term of one year and nine one-year renewals. The lease was renewed in 2016 for another year. The Company entered into an operating lease for the corporate headquarters in September 2015. The lease expires in September 2020 with options to renew for four additional consecutive five year terms. Future minimum payments under the agreements are as follows: Year Amount 2017 $ 108,993 2018 83,835 2019 72,678 2020 24,303 2021 - Thereafter - $ 289,809 Rent expense was $128,200

Credit Commitments

Credit Commitments	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Credit Commitments [Text Block]	9. Credit Commitments Outstanding loan commitments, unused lines of credit, and letters of credit as of December 31, are as follows: 2016 2015 Loan commitments Construction and land development $ 250,000 $ - Commercial 1,050,000 482,000 Commercial real estate 17,134,718 14,898,000 Residential 3,894,689 4,766,130 $ 22,329,407 $ 20,146,130 Unused lines of credit Home-equity lines $ 3,345,309 $ 3,307,863 Commercial lines 27,182,226 33,231,204 $ 30,527,535 $ 36,539,067 Letters of credit $ 1,281,848 $ 1,408,460 Loan commitments and lines of credit are agreements to lend to a customer as long as there is no violation of any condition to the contract. Loan commitments generally have interest rates at current market amounts, fixed expiration dates, and may require payment of a fee. Lines of credit generally have variable interest rates. Such lines do not represent future cash requirements because it is unlikely that all customers will draw upon their lines in full at any time. Letters of credit are commitments issued to guarantee the performance of a customer to a third party. The maximum exposure to credit loss in the event of nonperformance by the customer is the contractual amount of the commitment. Loan commitments, lines of credit and letters of credit are made on the same terms, including collateral, as outstanding loans. Management is not aware of any accounting loss that is likely to be incurred as a result of funding its credit commitments.

Retirement Plans

Retirement Plans	12 Months Ended
	Dec. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Pension and Other Postretirement Benefits Disclosure [Text Block]	10. Retirement Plans The Company has a profit sharing plan qualifying under Section 401(k) of the Internal Revenue Code. All employees age 21 or more with six months of service are eligible for participation in the plan. The Company matches employee contributions up to 4% of total compensation and may make additional discretionary contributions. Employee and employer contributions are 100% vested when made. The Company's contributions to this plan were $165,224 and $153,534 for 2016 and 2015, respectively. The Company has entered into agreements with 12 employees to provide certain life insurance benefits payable in connection with policies of life insurance on those employees that are owned by the Company. Each of the agreements provides for the amount of death insurance benefits to be paid to beneficiaries of the insured. For this plan, the Company expensed $4,816 and $4,433 in 2016 and 2015, respectively. In 2010 and 2015, the Company adopted supplemental executive retirement plans for three of its executives. The plans provide cash compensation to the executive officers under certain circumstances, including a separation of service. The benefits vest over the period from adoption to a specified age for each executive. The Company recorded expenses, including interest, of $240,193 and $228,929 in 2016 and 2015, respectively, for these plans. Retirement plan expenses are included in employee benefits on the consolidated statements of income.

Interest-Bearing Deposits

Interest-Bearing Deposits	12 Months Ended
	Dec. 31, 2016
Banking and Thrift [Abstract]
Deposit Liabilities Disclosures [Text Block]	11. Interest-Bearing Deposits Major classifications of interest-bearing deposits are as follows: 2016 2015 NOW $ 40,090,252 $ 35,533,282 Money market 64,859,044 52,598,431 Savings 40,158,833 36,343,747 Certificates of deposit, $250,000 or more 15,233,383 16,979,039 Other time deposits 79,581,789 76,466,296 $ 239,923,301 $ 217,920,795 As of December 31, 2016, certificates of deposit mature as follows: Year Amount 2017 $ 44,931,000 2018 22,124,546 2019 20,824,692 2020 3,325,772 2021 3,509,162 Thereafter 100,000 $ 94,815,172

Borrowed Funds

Borrowed Funds	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	12. Borrowed Funds Borrowed funds consist of securities sold under repurchase agreements, which represent overnight or term borrowings from customers, advances from the FHLB of Atlanta, the Federal Reserve Bank of Richmond (the “FRB”), and overnight borrowings from a commercial bank. The government agency securities that are the collateral for these agreements are owned by the Company and maintained in the custody of an unaffiliated agent designated by the Company. Additional information is as follows: 2016 2015 Amounts outstanding at year-end: Securities sold under repurchase agreements $ 27,226,159 $ 20,490,619 Federal Home Loan Bank advances $ 9,000,000 $ 11,000,000 Federal Home Loan Bank advances mature in: 2016 $ - $ 5,000,000 2017 2,000,000 1,000,000 2018 5,000,000 5,000,000 2019 2,000,000 - Weighted average rate paid at December 31: Securities sold under repurchase agreements 0.63 % 0.53 % Federal Home Loan Bank advances 1.11 % 0.94 % Maximum month-end amount outstanding: Securities sold under repurchase agreements $ 32,287,740 $ 20,655,156 Federal Home Loan Bank advances 16,000,000 11,000,000 Average amount outstanding: Securities sold under repurchase agreements $ 25,320,795 $ 18,582,245 Federal Home Loan Bank advances 10,833,333 10,778,082 Borrowings from FRB and commercial banks 21,861 2,742 Average rate paid during the year: Securities sold under repurchase agreements 0.64 % 0.54 % Federal Home Loan Bank advances 0.94 % 0.75 % Borrowings from FRB and commercial banks 0.67 % 0.52 % Investment securities underlying the repurchase agreements at year end: Carrying value $ 28,191,745 $ 21,127,194 Estimated fair value 28,165,979 21,355,393 Loans pledged to the Federal Home Loan Bank at year-end: Carrying value $ 60,858,326 $ 57,812,753 Loans pledged to the Federal Reserve Bank at year-end: Carrying value $ 40,954,231 $ 34,487,029 The Company is approved to borrow approximately $53.3 million against eligible pledged single family residential loans, eligible pledged multi-family loans, eligible pledged commercial loans, and eligible securities under a secured line of credit with the FHLB of Atlanta. In addition, the Company has a facility with the FRB whereby the Company can borrow up to $30.3 million. The Company also has available an unsecured federal funds line of credit of $2 million and a secured federal funds line of credit of $9 million from a commercial bank.

Other Noninterest Expenses

Other Noninterest Expenses	12 Months Ended
	Dec. 31, 2016
Other Income and Expenses [Abstract]
Other Income and Other Expense Disclosure [Text Block]	13. Other Noninterest Expenses 2016 2015 Automated teller machine and debit card expenses $ 331,368 $ 263,220 Professional services 311,702 224,333 Advertising 217,116 196,112 Directors fees 189,263 188,476 Stationery, printing, and supplies 188,070 153,491 Telephone 185,532 149,375 Postage, delivery, and armored carrier 179,344 179,109 Federal Deposit Insurance Corporation premiums 147,940 168,135 Internet banking fees 143,210 111,471 Correspondent bank services 79,278 63,240 Travel and conferences 48,970 56,173 Liability insurance 46,917 46,880 Maryland state regulatory assessment 41,531 39,279 Dues and subscriptions 39,752 37,538 Remote deposit expenses 29,722 28,782 Credit reports 25,276 21,619 Contributions 23,160 22,715 Education and training 15,669 11,378 Other real estate owned 15,252 32,695 Other 97,422 88,113 $ 2,356,494 $ 2,082,134

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	14. Income Taxes 2016 2015 Restated Current Federal $ 1,355,273 $ 1,893,991 State 364,394 541,064 1,719,667 2,435,055 Deferred 307,153 95,150 $ 2,026,820 $ 2,530,205 2016 2015 Restated Depreciation $ (46,226) $ 106,757 Provision for loan losses 96,206 31,094 Other real estate owned allowance for loss (23,075) 63,403 Nonaccrual interest (15,000) (14,054) Prepaid captive insurance premium 393,735 - Post-retirement benefits (96,624) (92,050) $ 309,016 $ 95,150 Deferred tax assets Allowance for loan losses $ 765,966 $ 862,172 Other real estate owned allowance for loss 246,925 223,850 Write-down of equity securities 5,522 5,522 Nonaccrual interest 29,055 14,054 Post-retirement benefits 520,410 423,786 Unrealized loss on securities available for sale 182,588 66,522 1,750,466 1,595,906 Deferred tax liabilities Prepaid captive insurance premium 393,735 - Depreciation 329,575 375,801 723,310 375,801 Net deferred tax asset $ 1,027,156 $ 1,220,105 The differences between the federal income tax rate of 34% and the effective tax rate for the Company are reconciled as follows: Statutory federal income tax rate 34.0 % 34.0 % Increase (decrease) resulting from: Federal tax-exempt income (4.9) (2.2) State income taxes, net of federal income tax benefit 4.9 5.2 Nondeductible expenses 0.1 0.1 Other - 0.1 34.1 % 37.2 % Included in Federal tax-exempt income is the insurance premium revenue of the Insurance Subsidiary. The Company does not have material uncertain tax positions and did not recognize any adjustments for unrecognized tax benefits. The Company remains subject to examination of income tax returns for the years ending after December 31, 2012.

Capital Standards

Capital Standards	12 Months Ended
	Dec. 31, 2016
Banking and Thrift [Abstract]
Regulatory Capital Requirements under Banking Regulations [Text Block]	15. Capital Standards The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possible additional, discretionary actions by the regulators that, if undertaken, could have a direct material effect on our financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, we must meet specific capital guidelines that involve quantitative measures of our assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. Our capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. The Basel III Capital Rules became effective for the Bank on January 1, 2015 (subject to a phase-in period for certain provisions). Quantitative measures established by the Basel III Capital Rules to ensure capital adequacy require the maintenance of minimum amounts and ratios (set forth in the table below) of Common Equity Tier 1 capital, Tier 1 capital, and Total capital (as defined in the regulations) to risk-weighted assets (as defined), and of Tier 1 capital to adjusted quarterly average assets (as defined). In connection with the adoption of the Basel III Capital Rules, the Bank elected to opt-out of the requirement to include accumulated other comprehensive income in Common Equity Tier 1 capital. Common Equity Tier 1 capital for the Bank is reduced by goodwill and other intangible assets, net of associated deferred tax liabilities and subject to transition provisions. Under the revised prompt corrective action requirements, as of January 1, 2015, insured depository institutions are required to meet the following in order to qualify as "well capitalized:" (1) a common equity Tier 1 risk-based capital ratio of 6.5%; (2) a Tier 1 risk-based capital ratio of 8%; (3) a total risk-based capital ratio of 10%; and (4) a Tier 1 leverage ratio of 5%. Management believes that, as of December 31, 2016, the Bank met all capital adequacy requirements under the Basel III Capital Rules on a fully phased-in basis as if such requirements were fully in effect. The implementation of the capital conservation buffer will begin on January 1, 2016, at the 0.625% level and be phased in over a four-year period (increasing by that amount on each subsequent January 1, until it reaches 2.5% on January 1, 2019). The aforementioned capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of Common Equity Tier 1 capital to risk-weighted assets above the minimum but below the conservation buffer (or below the combined capital conservation buffer and countercyclical capital buffer, when the latter is applied) will face constraints on dividends, equity repurchases, and compensation based on the amount of the shortfall. The following table presents actual and required capital ratios as of December 31, 2016 and 2015, for the Bank under the Basel III Capital Rules. The minimum required capital amounts presented include the minimum required capital levels as of December 31, 2016 and 2015, based on the phase-in provisions of the Basel III Capital Rules. Capital levels required to be considered well capitalized are based upon prompt corrective action regulations, as amended to reflect the changes under the Basel III Capital Rules. As of December 31, 2016, the most recent notification from the FDIC has categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized the Bank must maintain ratios as set forth in the table. There have been no conditions or events since that notification that management believes have changed the Bank's category. Minimum To Be Well (Dollars in thousands) Actual Capital Adequacy Capitalized December 31, 2016 Amount Ratio Amount Ratio Amount Ratio Restated Restated Total capital (to risk-weighted assets) 41,385 13.18 % 27,076 8.63 % 31,392 10.00 % Tier 1 capital (to risk-weighted assets) 39,022 12.43 % 20,797 6.63 % 25,114 8.00 % Common equity tier 1 (to risk- weighted assets) 39,022 12.43 % 16,089 5.13 % 20,405 6.50 % Tier 1 leverage (to average assets) 39,022 10.39 % 15,025 4.00 % 18,781 5.00 % Minimum To Be Well (Dollars in thousands) Actual Capital Adequacy Capitalized December 31, 2015 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) 38,908 13.69 % 22,739 8.00 % 28,424 10.00 % Tier 1 capital (to risk-weighted assets) 36,325 12.78 % 17,055 6.00 % 22,739 8.00 % Common equity tier 1 (to risk- weighted assets) 36,325 12.78 % 12,791 4.50 % 18,476 6.50 % Tier 1 leverage (to average assets) 36,325 10.64 % 13,662 4.00 % 17,077 5.00 %

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	16. Fair Value Accounting standards define fair value as the price that would be received upon the sale of an asset or paid upon the transfer of a liability in an orderly transaction between market participants. The price in the principal market used to measure the fair value of the asset or liability is not adjusted for transaction costs. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact and (iv) willing to transact. The standards require the use of valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. The standards establish a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: ⋅ Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. ⋅ Level 2: Significant other observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, and other inputs that are observable or can be corroborated by observable market data. ⋅ Level 3: Significant unobservable inputs that reflect the Company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The Company uses the following methods and significant assumptions to estimate the fair values of the following assets: ⋅ Securities available for sale: The fair values of securities available for sale are determined by obtaining quoted prices from a nationally recognized securities pricing agent. If quoted market prices are not available, fair value is determined using quoted market prices for similar securities. ⋅ Other real estate owned (“OREO”): Nonrecurring fair value adjustments to OREO reflect full or partial write-downs that are based on the OREO’s observable market price or current appraised value of the real estate. Since the market for OREO is not active, OREO subjected to nonrecurring fair value adjustments based on the current appraised value of the real estate are classified as Level 3. The appraised value is obtained annually from an independent third party appraiser and is reduced by expected sales costs, which has historically been 10% of the appraised value. ⋅ Impaired loans: Nonrecurring fair value adjustments to impaired loans reflect full or partial write-downs and reserves that are based on the impaired loan’s observable market price or current appraised value of the collateral. Since the market for impaired loans is not active, such loans subjected to nonrecurring fair value adjustments based on the current appraised value of the collateral are classified as Level 3. The appraised value is obtained annually from an independent third party appraiser and is reduced by expected sales costs, which has historically been 10% of the appraised value. Carrying Value: Level 1 Level 2 Level 3 Total December 31, 2016 Recurring Available for sale securities State and municipal $ - $ 1,566,327 $ - $ 1,566,327 Mutual Fund 492,243 - - 492,243 SBA pools - 2,263,834 - 2,263,834 Mortgage-backed securities - 30,063,535 - 30,063,535 $ 492,243 $ 33,893,696 $ - $ 34,385,939 Nonrecurring Other real estate owned $ - $ - $ 414,000 $ 414,000 Impaired loans - - 3,318,577 3,318,577 December 31, 2015 Recurring Available for sale securities State and municipal $ - $ 1,349,242 $ - $ 1,349,242 Mortgage-backed securities - 22,295,342 - 22,295,342 $ - $ 23,644,584 $ - $ 23,644,584 Nonrecurring Other real estate owned $ - $ - $ 472,500 $ 472,500 Impaired loans - - 3,233,283 3,233,283 Estate Owned Loans December 31, 2015 balance $ 472,500 $ 3,233,283 Additions - 271,580 Advances - 604,695 Write-downs (58,500) (230,000) Loan loss provision - 143,044 Principal payments received - (704,025) December 31, 2016 balance $ 414,000 $ 3,318,577 December 31, 2016 December 31, 2015 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets Level 1 inputs Restated Restated Cash and cash equivalents $ 13,312,915 $ 13,312,915 $ 20,192,939 $ 20,192,939 Level 2 inputs Securities held to maturity 17,987,628 17,833,799 16,604,067 16,886,897 Mortgage loans held for sale 884,500 902,061 - - Federal Home Loan Bank stock 778,300 778,300 758,100 758,100 Level 3 inputs Loans, net 295,286,572 297,982,000 268,249,402 269,852,000 Financial liabilities Level 1 inputs Noninterest-bearing deposits $ 62,791,835 $ 62,791,835 $ 58,043,942 $ 58,043,942 Securities sold under repurchase agreements 27,226,159 27,226,159 20,490,619 20,490,619 Level 2 inputs Interest-bearing deposits 239,923,301 230,394,000 217,920,795 211,316,000 Federal Home Loan Bank advances 9,000,000 8,975,000 11,000,000 11,006,000 The fair value of mortgage loans held for sale is determined by the expected sales price. The fair values of fixed-rate loans are estimated to be the present values of scheduled payments discounted using interest rates currently in effect. The fair values of variable-rate loans, including loans with a demand feature, are estimated to equal the carrying amount. The valuation of a loan is adjusted for probable loan losses. The fair values of interest-bearing checking, savings, and money market deposit accounts are equal to their carrying amounts. The fair values of fixed-maturity time deposits are estimated based on interest rates currently offered for deposits of similar remaining maturities. The fair value of credit commitments are considered to be the same as the contractual amounts, and are not included in the table above. These commitments generate fees that approximate those currently charged to originate similar commitments.

Quarterly Results of Operations

Quarterly Results of Operations	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information [Text Block]	17. Quarterly Results of Operations Three Months Ended Unaudited 2016 December 31 September 30 June 30 March 31 Restated Interest income $ 3,992,191 $ 3,856,566 $ 3,731,160 $ 3,771,580 Interest expense 368,885 340,099 322,540 314,596 Net interest income 3,623,306 3,516,467 3,408,620 3,456,984 Provision for loan losses - - - - Net income 1,016,101 1,040,372 916,188 936,468 Earnings per share - basic and diluted $ 0.61 $ 0.63 $ 0.56 $ 0.57 2015 December 31 September 30 June 30 March 31 Interest income $ 3,728,982 $ 3,685,503 $ 3,671,377 $ 3,619,539 Interest expense 313,295 303,055 289,256 284,040 Net interest income 3,415,687 3,382,448 3,382,121 3,335,499 Provision for loan losses (15,000) - - 15,000 Net income 1,081,074 1,236,261 1,022,579 928,308 Earnings per share - basic and diluted $ 0.66 $ 0.75 $ 0.63 $ 0.57

Litigation

Litigation	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Legal Matters and Contingencies [Text Block]	18. Litigation In the ordinary course of its business, the Company is periodically party to various legal actions normally associated with a financial institution. Management does not believe that any of these normal course proceedings are likely to have a material adverse effect on the financial condition or liquidity of the Company.

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of consolidation The consolidated financial statements include the accounts of Farmers and Merchants Bancshares, Inc. and its wholly owned subsidiaries, Farmers and Merchants Bank (the “Bank”), and Series Protected Cell FCB-4 (the “Insurance Subsidiary”), and one indirect subsidiary, Reliable Community Financial Services, Inc. (collectively the “Company”, “we”, “us”, or “our”). The Insurance Subsidiary is a series investment, 100% owned by the Company, in First Community Bankers Insurance Co., LLC, a Tennessee “series” limited liability company and licensed property and casualty insurance company. Intercompany balances and transactions have been eliminated. Farmers and Merchants Bancshares, Inc. was formed effective November 1, 2016 and the Insurance Subsidiary was formed effective November 7, 2016. Results prior to November 1, 2016 are solely attributable to Farmers and Merchants Bank and its subsidiary Reliable Community Financial Services, Inc.
Reclassification, Policy [Policy Text Block]	Reclassifications Certain reclassifications have been made to the 2015 financial statements to conform to the current year presentation. These reclassifications had no effect on net income.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and cash equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, money market funds, and federal funds sold. Generally, federal funds are purchased and sold for one-day periods.
Comprehensive Income, Policy [Policy Text Block]	Comprehensive income Comprehensive income includes net income and the unrealized gains or losses on investment securities available for sale, net of income taxes.
Investment, Policy [Policy Text Block]	Investment securities As securities are purchased, management determines if the securities should be classified as held to maturity or available for sale. Securities which management has the intent and ability to hold to maturity are recorded at amortized cost, which is cost adjusted for amortization of premiums and accretion of discounts to maturity. Securities held to meet liquidity needs or which may be sold before maturity are classified as available for sale and carried at fair value with unrealized gains and losses included in stockholders' equity on an after-tax basis. Gains and losses on disposal are determined using the specific-identification method. The Company amortizes premiums and accretes discounts using the interest method.
Federal Home Loan Bank, Stock [Policy Text Block]	Federal Home Loan Bank stock As a member of the Federal Home Loan Bank, the Bank is required to purchase stock based on its total assets. Additional stock is purchased and redeemed based on the outstanding Federal Home Loan Bank advances to the Bank. The stock is recorded at cost on the balance sheet.
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block]	Loans and allowance for loan losses Loans are stated at the current amount of unpaid principal, adjusted for deferred origination costs, deferred origination fees, and the allowance for loan losses. Interest on loans is accrued based on the principal amounts outstanding. Origination fees and costs are amortized to income over the terms of loans. Past due status is based on the contractual terms of the loan. Management may make an exception to reporting a loan as past due, if the past due status is solely due to the loan being past maturity, the Company intends to extend the loan, and the borrower is making principal and interest payments in accordance with the terms of the matured note. The accrual of interest is discontinued when any portion of the principal or interest is 90 days past due and collateral is insufficient to discharge the debt in full. If collection of principal is evaluated as doubtful, all payments are applied to principal. Loans are considered impaired when, based on current information, management considers it unlikely that the collection of principal and interest payments will be made according to contractual terms. Generally, loans are not reviewed for impairment until the accrual of interest has been discontinued or are included on the watch list. The allowance for loan losses represents an amount which, in management’s judgment, will be adequate to absorb probable losses on existing loans and other extensions of credit that may become uncollectible. The Company’s allowance for loan losses consists of three elements: (i) specific valuation allowances determined based on probable losses on specific loans; (ii) historical valuation allowances determined based on historical loan loss experience for similar loans with similar characteristics; and (iii) adjustments to the historical valuation allowances based on general economic conditions and other qualitative risk factors both internal and external to the Company. The allowances established for probable losses on specific loans are based on a regular analysis and evaluation of problem loans. Management maintains a watch list of problem loans. Loans are classified based on an internal credit risk grading process that evaluates, among other things: (i) the obligor's ability to repay; (ii) the underlying collateral, if any; (iii) the economic environment; and (iv) for commercial borrowers, the industry in which the borrower operates. Specific valuation allowances are determined when the collateral value, if the loan is collateral dependent, or the discounted cash flows of the impaired loan is lower than the carrying value. Historical valuation allowances are calculated based on the historical loss experience of specific types of loans. The Company calculates historical loss ratios for pools of similar loans with similar characteristics based on the proportion of actual charge-offs experienced to the total population of loans in the pool over the prior eight to twenty quarters. As of December 31, 2016 and 2015, management used a twenty quarter period for the historical loss ratio. The historical loss ratios are updated quarterly based on actual charge-off experience. A historical valuation allowance is established for each pool of similar loans based upon the product of the historical loss ratio and the total dollar amount of the loans in the pool. Adjustments to the historical valuation allowances are based on general economic conditions and other qualitative risk factors both internal and external to the Company. In general, such adjustments are determined by evaluating, among other things: (i) the impact of economic conditions on the portfolio; (ii) changes in asset quality, including delinquency trends; (iii) the impact of changing interest rates on portfolio risk; (iv) changes in legislative and regulatory policy; (v) the composition and concentrations of credit; and (vi) the effectiveness of the internal loan review function. Management evaluates these qualitative factors on a quarterly basis. Each factor could result in an adjustment that is positive, negative, or no impact. Loan losses are charged to the allowance when management believes that collection is unlikely. Collections of loans previously charged off are added to the allowance at the time of recovery.
Loans and Leases Receivable, Mortgage Banking Activities, Policy [Policy Text Block]	Mortgage loans held for sale and mortgage banking income Mortgage loans held for sale are carried at the lower of aggregate cost or fair value based on the current fair value of each outstanding loan. Sales of loans are recorded when the proceeds are received, with any gain or loss recorded in mortgage banking income. The Company sells its mortgage loans to third party investors servicing released. Upon sale and delivery, loans are legally isolated from the Company and the Company has no ability to restrict or constrain the ability of third party investors to pledge or exchange the mortgage loans. The Company does not have the entitlement or ability to repurchase the mortgage loans or unilaterally cause third party investors to put the mortgage loans back to the Company.
Property, Plant and Equipment, Policy [Policy Text Block]	Premises and equipment Premises and equipment are recorded at cost less accumulated depreciation and amortization. Depreciation on buildings and equipment is computed over the estimated useful lives of the assets using the straight-line method. Leasehold improvements are amortized using the straight-line method over the term of the lease or the estimated useful lives of the asset, whichever is shorter.
Real Estate, Policy [Policy Text Block]	Other real estate owned Real estate acquired through foreclosure or by deed in lieu of foreclosure is recorded at the lower of cost or fair value less estimated costs to sell on the date acquired. Losses incurred at the time of acquisition of the property are charged to the allowance for loan losses. Subsequent reductions in the estimated value of the property are included with any gains or losses on sale in noninterest income.
Income Tax, Policy [Policy Text Block]	Income taxes The provision for income taxes includes income taxes payable for the current year and deferred income taxes. Deferred tax assets and liabilities are determined based on the difference between the financial statement bases and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse.
Earnings Per Share, Policy [Policy Text Block]	Per share data Earnings per share are determined by dividing net income by the weighted average number of shares of common stock outstanding, giving retroactive effect to any stock dividends. Weighted average shares were 1,652,014 and 1,633,897 for 2016 and 2015, respectively. There are no potentially dilutive shares outstanding.
Subsequent Events, Policy [Policy Text Block]	Subsequent events The Company has evaluated events and transactions occurring subsequent to the statement of financial condition date of December 31, 2016 for items that should potentially be recognized or disclosed in these financial statements as prescribed by ASC Topic 855, Subsequent Events.

Restatement (Tables)

Restatement (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Changes and Error Corrections [Abstract]
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]	Impacted Consolidated Balance Sheet Accounts as of December 31, 2016: As previously Restatement reported adjustments As restated Cash and due from banks $ 13,504,081 $ (1,169,723) $ 12,334,358 Cash and cash equivalents 14,482,638 (1,169,723) 13,312,915 Deferred income taxes 1,420,891 (391,872) 1,029,019 Other assets 1,356,982 1,167,860 2,524,842 Total assets 380,225,094 (393,735) 379,831,359 Retained earnings 13,106,834 (393,735) 12,713,099 Total stockholders' equity 39,406,012 (393,735) 39,012,277 Total liabilities and stockholders' equity 380,225,094 (393,735) 379,831,359 Impacted Consolidated Statements of Income Accounts for the year ended December 31, 2016: As previously Restatement reported adjustments As restated Income taxes $ 1,633,085 $ 393,735 $ 2,026,820 Net income 4,302,864 (393,735) 3,909,129 Earnings per share - basic and diluted 2.60 (0.23) 2.37 Impacted Consolidated Statements of Cash Flows for the year ended December 31, 2016: As previously Restatement reported adjustments As restated Cash paid to suppliers and employees $ (8,272,117) $ (1,169,723) $ (9,441,840) Cash provided by operating activities 3,608,405 (1,169,723) 2,438,682 Net increase in cash and cash equivalents (5,710,201) (1,169,723) (6,879,924) Cash and cash equivalents at the end of period 14,482,638 (1,169,723) 13,312,915 Net income 4,302,864 (393,735) 3,909,129 Deferred income taxes (84,719) 391,872 307,153 Other assets (397,920) (1,167,860) (1,565,780)

Investment Securities (Tables)

Investment Securities (Tables)	12 Months Ended
	Dec. 31, 2016
Investments, Debt and Equity Securities [Abstract]
Marketable Securities [Table Text Block]	Investment securities are summarized as follows: Amortized Unrealized Unrealized Fair December 31, 2016 cost gains losses value Available for sale State and municipal $ 1,515,863 $ 62,512 $ 12,048 $ 1,566,327 Mutual fund 507,612 - 15,369 492,243 SBA pools 2,280,415 - 16,581 2,263,834 Mortgage-backed securities 30,544,941 20,139 501,545 30,063,535 $ 34,848,831 $ 82,651 $ 545,543 $ 34,385,939 Held to maturity State and municipal $ 17,987,628 $ 163,239 $ 317,068 $ 17,833,799 December 31, 2015 Available for sale State and municipal $ 1,253,031 $ 96,211 $ - $ 1,349,242 Mortgage-backed securities 22,524,260 37,120 266,038 22,295,342 $ 23,777,291 $ 133,331 $ 266,038 $ 23,644,584 Held to maturity U. S. government agency $ 2,960,758 $ 1,373 $ 33,231 $ 2,928,900 State and municipal 13,643,309 345,506 30,818 13,957,997 $ 16,604,067 $ 346,879 $ 64,049 $ 16,886,897
Investments Classified by Contractual Maturity Date [Table Text Block]	Contractual maturities, shown below, will differ from actual maturities because borrowers and issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Available for Sale Held to Maturity Amortized Fair Amortized Fair December 31, 2016 cost value cost value Within one year $ 507,612 $ 492,243 $ - $ - Over one to five years - - - - Over five to ten years 1,136,919 1,163,288 2,657,130 2,702,121 Over ten years 378,944 403,039 15,330,498 15,131,678 2,023,475 2,058,570 17,987,628 17,833,799 Mortgage-backed securities and SBA pools, due in monthly installments 32,825,356 32,327,369 - - $ 34,848,831 $ 34,385,939 $ 17,987,628 $ 17,833,799 December 31, 2015 Within one year $ - $ - $ - $ - Over one to five years - - - - Over five to ten years 501,991 552,070 2,276,250 2,308,733 Over ten years 751,040 797,172 14,327,817 14,578,164 1,253,031 1,349,242 16,604,067 16,886,897 Mortgage-backed securities, due in monthly installments 22,524,260 22,295,342 - - $ 23,777,291 $ 23,644,584 $ 16,604,067 $ 16,886,897
Schedule of Unrealized Loss on Investments [Table Text Block]	The following table sets forth the Company's gross unrealized losses on a continuous basis for investment securities, by category and length of time. December 31, 2016 Less than 12 months 12 months or more Total Unrealized Unrealized Unrealized Description of investments Fair value losses Fair value losses Fair value losses State and municipal $ 8,558,230 $ 329,116 $ - $ - $ 8,558,230 $ 329,116 Mutual fund 492,243 15,369 - - 492,243 15,369 SBA pools 2,263,834 16,581 - - 2,263,834 16,581 Mortgage-backed securities 26,726,037 473,451 1,353,900 28,094 28,079,937 501,545 Total $ 38,040,344 $ 834,517 $ 1,353,900 $ 28,094 $ 39,394,244 $ 862,611 December 31, 2015 Less than 12 months 12 months or more Total Unrealized Unrealized Unrealized Description of investments Fair value losses Fair value losses Fair value losses U.S. government agency $ - $ - $ 1,927,527 $ 33,231 $ 1,927,527 $ 33,231 State and municipal 573,034 5,535 804,623 25,283 1,377,657 30,818 Mortgage-backed securities 15,299,536 156,187 3,431,902 109,851 18,731,438 266,038 Total $ 15,872,570 $ 161,722 $ 6,164,052 $ 168,365 $ 22,036,622 $ 330,087

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Schedule of Related Party Transactions [Table Text Block]	During the years ended December 31, 2016 and 2015, the activity of these loans was as follows: 2016 2015 Balance, beginning of year $ 13,148,726 $ 12,732,702 Additions 3,987,121 3,473,398 Amounts collected (4,205,038) (3,057,374) Change in related parties (148,576) - Balance, end of year $ 12,782,233 $ 13,148,726

Loans (Tables)

Loans (Tables)	12 Months Ended
	Dec. 31, 2016
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	Major categories of loans at December 31, 2016 and 2015 are as follows: 2016 2015 Real estate: Commercial $ 206,145,076 $ 186,703,868 Construction and land development 14,392,992 12,820,165 Residential 54,710,809 51,290,828 Commercial 22,152,773 19,562,302 Consumer 725,269 886,175 298,126,919 271,263,338 Less: Allowance for loan losses 2,363,086 2,583,445 Deferred origination fees net of costs 477,261 430,491 $ 295,286,572 $ 268,249,402
Schedule of Maturity and Rate Repricing Distribution of the Loan Portfolio [Table Text Block]	2016 2015 Variable rate, immediately $ 41,628,685 $ 27,803,011 Due within one year 48,381,221 33,826,370 Due over one to five years 126,810,275 153,408,126 Due over five years 81,306,738 56,225,831 $ 298,126,919 $ 271,263,338
Loans and Leases Receivable, Nonaccrual Loan and Lease Status [Table Text Block]	Year-end nonaccrual loans, segregated by class of loans, were as follows: 2016 2015 Commercial real estate $ 752,889 $ 956,813
Past Due Financing Receivables [Table Text Block]	An age analysis of past due loans, segregated by class of loans, as of year-end, is as follows: 90 Days Past Due 90 30 - 59 Days 60 - 89 Days or More Total Total Days or More Past Due Past Due Past Due Past Due Current Loans and Accruing December 31, 2016 Real estate: Commercial $ - $ - $ - $ - $ 206,145,076 $ 206,145,076 $ - Construction and land development - - 752,889 752,889 13,640,103 14,392,992 - Residential 824,554 - - 824,554 53,886,255 54,710,809 - Commercial 48,719 - - 48,719 22,104,054 22,152,773 - Consumer - - - - 725,269 725,269 - Total $ 873,273 $ - $ 752,889 $ 1,626,162 $ 296,500,757 $ 298,126,919 $ - December 31, 2015 Real estate: Commercial $ - $ - $ - $ - $ 186,703,868 $ 186,703,868 $ - Construction and land development - - 956,813 956,813 11,863,352 12,820,165 - Residential - - - - 51,290,828 51,290,828 - Commercial - - - - 19,562,302 19,562,302 - Consumer - - - - 886,175 886,175 - Total $ - $ - $ 956,813 $ 956,813 $ 270,306,525 $ 271,263,338 $ -
Impaired Financing Receivables [Table Text Block]	Year-end impaired loans, segregated by class of loans, are set forth in the following table: Unpaid Recorded Recorded Contractual Investment Investment Total Average Principal With No With Recorded Related Recorded Interest Balance Allowance Allowance Investment Allowance Investment Recognized December 31, 2016 Real estate: Commercial $ 2,455,090 $ 2,183,509 $ 241,580 $ 2,425,089 $ 7,580 $ 2,332,568 $ 125,260 Construction and land development 1,152,889 - 752,889 752,889 16,587 854,851 - Commercial 164,766 164,766 - 164,766 - 184,201 14,442 $ 3,772,745 $ 2,348,275 $ 994,469 $ 3,342,744 $ 24,167 $ 3,371,620 $ 139,702 December 31, 2015 Real estate: Commercial $ 2,240,046 $ 2,240,046 $ - $ 2,240,046 $ - $ 2,281,563 $ 115,663 Construction and land development 1,156,813 - 956,813 956,813 167,211 478,407 13,540 Commercial 203,635 203,635 - 203,635 - 220,421 15,644 $ 3,600,494 $ 2,443,681 $ 956,813 $ 3,400,494 $ 167,211 $ 2,980,391 $ 144,847
Financing Receivable Credit Quality Indicators [Table Text Block]	Above Pass Special December 31, 2016 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ 9,584,756 $ 147,668,371 $ 32,474,566 $ 3,883,813 $ 8,644,563 $ 3,889,007 $ - $ 206,145,076 Construction and land development - 178,078 10,178,876 2,039,090 - 153,611 1,843,337 - 14,392,992 Residential 110,142 2,811,362 42,715,571 8,059,118 351,182 - 663,434 - 54,710,809 Commercial 1,666,880 77,745 18,469,572 1,228,598 545,212 164,766 - - 22,152,773 Consumer 42,577 121,306 476,465 51,339 - - 3,840 29,742 725,269 $ 1,819,599 $ 12,773,247 $ 219,508,855 $ 43,852,711 $ 4,780,207 $ 8,962,940 $ 6,399,618 $ 29,742 $ 298,126,919 Above Pass Special December 31, 2015 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ 11,100,467 $ 151,135,140 $ 11,019,894 $ 3,505,988 $ 6,162,661 $ 3,779,718 $ - $ 186,703,868 Construction and land development - 285,534 10,037,269 418,834 - - 2,078,528 - 12,820,165 Residential 181,662 3,478,378 43,722,191 2,502,477 731,122 - 674,998 - 51,290,828 Commercial 1,932,013 46,401 14,685,120 1,184,530 199,950 203,635 1,310,653 - 19,562,302 Consumer 67,862 253,706 481,073 11,207 46,802 - - 25,525 886,175 $ 2,181,537 $ 15,164,486 $ 220,060,793 $ 15,136,942 $ 4,483,862 $ 6,366,296 $ 7,843,897 $ 25,525 $ 271,263,338
Allowance for Credit Losses on Financing Receivables [Table Text Block]	The following table details activity in the allowance for loan losses by portfolio for the years ended December 31, 2016 and 2015. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. Allowance for loan losses Outstanding loan Provision ending balance evaluated balances evaluated Beginning for loan Charge Ending for impairment: for impairment: December 31, 2016 balance losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 1,718,256 $ 29,493 $ (30,000) $ - $ 1,717,749 $ 7,580 $ 1,710,169 $ 2,425,089 $ 203,719,987 Construction and land development 306,982 97,878 (200,000) - 204,860 16,587 188,273 752,889 13,640,103 Residential 322,084 (184,773) - 110,126 247,437 - 247,437 - 54,710,809 Commercial 132,362 93,383 (100,485) - 125,260 - 125,260 164,766 21,988,007 Consumer 7,900 926 - - 8,826 - 8,826 - 725,269 Unallocated 95,861 (36,907) - - 58,954 - 58,954 - - $ 2,583,445 $ - $ (330,485) $ 110,126 $ 2,363,086 $ 24,167 $ 2,338,919 $ 3,342,744 $ 294,784,175 Allowance for loan losses Outstanding loan Provision ending balance evaluated balances evaluated Beginning for loan Charge Ending for impairment: for impairment: December 31, 2015 balance losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 1,848,163 $ (129,907) $ - $ - $ 1,718,256 $ - $ 1,718,256 $ 2,240,046 $ 184,463,822 Construction and land development 458,211 48,771 (200,000) - 306,982 167,211 139,771 956,813 11,863,352 Residential 278,943 42,299 - 842 322,084 - 322,084 - 51,290,828 Commercial 171,104 (41,096) - 2,354 132,362 - 132,362 203,635 19,358,667 Consumer 8,215 (315) - - 7,900 - 7,900 - 886,175 Unallocated 15,613 80,248 - - 95,861 - 95,861 - - $ 2,780,249 $ - $ (200,000) $ 3,196 $ 2,583,445 $ 167,211 $ 2,416,234 $ 3,400,494 $ 267,862,844

Premises and Equipment (Tables)

Premises and Equipment (Tables)	12 Months Ended
	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	A summary of premises and equipment is as follows: Useful lives 2016 2015 Land and improvements - $ 1,952,998 $ 1,952,998 Buildings and improvements 15-39 years 5,659,635 5,659,635 Furniture and equipment 3-10 years 3,490,526 3,308,986 11,103,159 10,921,619 Accumulated depreciation and amortization 5,653,481 5,273,686 $ 5,449,678 $ 5,647,933 Depreciation and amortization expense $ 379,795 $ 339,269

Lease Commitments (Tables)

Lease Commitments (Tables)	12 Months Ended
	Dec. 31, 2016
Leases [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Future minimum payments under the agreements are as follows: Year Amount 2017 $ 108,993 2018 83,835 2019 72,678 2020 24,303 2021 - Thereafter - $ 289,809

Credit Commitments (Tables)

Credit Commitments (Tables)	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Credit Commitments [Table Text Block]	Outstanding loan commitments, unused lines of credit, and letters of credit as of December 31, are as follows: 2016 2015 Loan commitments Construction and land development $ 250,000 $ - Commercial 1,050,000 482,000 Commercial real estate 17,134,718 14,898,000 Residential 3,894,689 4,766,130 $ 22,329,407 $ 20,146,130 Unused lines of credit Home-equity lines $ 3,345,309 $ 3,307,863 Commercial lines 27,182,226 33,231,204 $ 30,527,535 $ 36,539,067 Letters of credit $ 1,281,848 $ 1,408,460

Interest-Bearing Deposits (Tabl

Interest-Bearing Deposits (Tables)	12 Months Ended
	Dec. 31, 2016
Banking and Thrift [Abstract]
Schedule Of Deposits [Table Text Block]	Major classifications of interest-bearing deposits are as follows: 2016 2015 NOW $ 40,090,252 $ 35,533,282 Money market 64,859,044 52,598,431 Savings 40,158,833 36,343,747 Certificates of deposit, $250,000 or more 15,233,383 16,979,039 Other time deposits 79,581,789 76,466,296 $ 239,923,301 $ 217,920,795
Schedule Of Maturities Of Certificates of Deposit [Table Text Block]	As of December 31, 2016, certificates of deposit mature as follows: Year Amount 2017 $ 44,931,000 2018 22,124,546 2019 20,824,692 2020 3,325,772 2021 3,509,162 Thereafter 100,000 $ 94,815,172

Borrowed Funds (Tables)

Borrowed Funds (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of Debt [Table Text Block]	Borrowed funds consist of securities sold under repurchase agreements, which represent overnight or term borrowings from customers, advances from the FHLB of Atlanta, the Federal Reserve Bank of Richmond (the “FRB”), and overnight borrowings from a commercial bank. The government agency securities that are the collateral for these agreements are owned by the Company and maintained in the custody of an unaffiliated agent designated by the Company. Additional information is as follows: 2016 2015 Amounts outstanding at year-end: Securities sold under repurchase agreements $ 27,226,159 $ 20,490,619 Federal Home Loan Bank advances $ 9,000,000 $ 11,000,000 Federal Home Loan Bank advances mature in: 2016 $ - $ 5,000,000 2017 2,000,000 1,000,000 2018 5,000,000 5,000,000 2019 2,000,000 - Weighted average rate paid at December 31: Securities sold under repurchase agreements 0.63 % 0.53 % Federal Home Loan Bank advances 1.11 % 0.94 % Maximum month-end amount outstanding: Securities sold under repurchase agreements $ 32,287,740 $ 20,655,156 Federal Home Loan Bank advances 16,000,000 11,000,000 Average amount outstanding: Securities sold under repurchase agreements $ 25,320,795 $ 18,582,245 Federal Home Loan Bank advances 10,833,333 10,778,082 Borrowings from FRB and commercial banks 21,861 2,742 Average rate paid during the year: Securities sold under repurchase agreements 0.64 % 0.54 % Federal Home Loan Bank advances 0.94 % 0.75 % Borrowings from FRB and commercial banks 0.67 % 0.52 % Investment securities underlying the repurchase agreements at year end: Carrying value $ 28,191,745 $ 21,127,194 Estimated fair value 28,165,979 21,355,393 Loans pledged to the Federal Home Loan Bank at year-end: Carrying value $ 60,858,326 $ 57,812,753 Loans pledged to the Federal Reserve Bank at year-end: Carrying value $ 40,954,231 $ 34,487,029

Other Noninterest Expenses (Tab

Other Noninterest Expenses (Tables)	12 Months Ended
	Dec. 31, 2016
Other Income and Expenses [Abstract]
Schedule of Other Nonoperating Income (Expense) [Table Text Block]	Other noninterest expenses include the following: 2016 2015 Automated teller machine and debit card expenses $ 331,368 $ 263,220 Professional services 311,702 224,333 Advertising 217,116 196,112 Directors fees 189,263 188,476 Stationery, printing, and supplies 188,070 153,491 Telephone 185,532 149,375 Postage, delivery, and armored carrier 179,344 179,109 Federal Deposit Insurance Corporation premiums 147,940 168,135 Internet banking fees 143,210 111,471 Correspondent bank services 79,278 63,240 Travel and conferences 48,970 56,173 Liability insurance 46,917 46,880 Maryland state regulatory assessment 41,531 39,279 Dues and subscriptions 39,752 37,538 Remote deposit expenses 29,722 28,782 Credit reports 25,276 21,619 Contributions 23,160 22,715 Education and training 15,669 11,378 Other real estate owned 15,252 32,695 Other 97,422 88,113 $ 2,356,494 $ 2,082,134

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	The components of income tax expense are as follows: 2016 2015 Restated Current Federal $ 1,355,273 $ 1,893,991 State 364,394 541,064 1,719,667 2,435,055 Deferred 307,153 95,150 $ 2,026,820 $ 2,530,205
Schedule of Components of Deferred Tax Expense Benefit [Table Text Block]	The components of the deferred tax expense are as follows: 2016 2015 Restated Depreciation $ (46,226) $ 106,757 Provision for loan losses 96,206 31,094 Other real estate owned allowance for loss (23,075) 63,403 Nonaccrual interest (15,000) (14,054) Prepaid captive insurance premium 393,735 - Post-retirement benefits (96,624) (92,050) $ 309,016 $ 95,150
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	The components of the net deferred tax asset are as follows: Deferred tax assets Allowance for loan losses $ 765,966 $ 862,172 Other real estate owned allowance for loss 246,925 223,850 Write-down of equity securities 5,522 5,522 Nonaccrual interest 29,055 14,054 Post-retirement benefits 520,410 423,786 Unrealized loss on securities available for sale 182,588 66,522 1,750,466 1,595,906 Deferred tax liabilities Prepaid captive insurance premium 393,735 - Depreciation 329,575 375,801 723,310 375,801 Net deferred tax asset $ 1,027,156 $ 1,220,105
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	The differences between the federal income tax rate of 34% and the effective tax rate for the Company are reconciled as follows: Statutory federal income tax rate 34.0 % 34.0 % Increase (decrease) resulting from: Federal tax-exempt income (4.9) (2.2) State income taxes, net of federal income tax benefit 4.9 5.2 Nondeductible expenses 0.1 0.1 Other - 0.1 34.1 % 37.2 %

Capital Standards (Tables)

Capital Standards (Tables)	12 Months Ended
	Dec. 31, 2016
Banking and Thrift [Abstract]
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block]	The FDIC, through formal or informal agreement, has the authority to require an institution to maintain higher capital ratios than those provided by statute, to be categorized as well capitalized under the regulatory framework for prompt corrective action. Minimum To Be Well (Dollars in thousands) Actual Capital Adequacy Capitalized December 31, 2016 Amount Ratio Amount Ratio Amount Ratio Restated Restated Total capital (to risk-weighted assets) 41,385 13.18 % 27,076 8.63 % 31,392 10.00 % Tier 1 capital (to risk-weighted assets) 39,022 12.43 % 20,797 6.63 % 25,114 8.00 % Common equity tier 1 (to risk- weighted assets) 39,022 12.43 % 16,089 5.13 % 20,405 6.50 % Tier 1 leverage (to average assets) 39,022 10.39 % 15,025 4.00 % 18,781 5.00 % Minimum To Be Well (Dollars in thousands) Actual Capital Adequacy Capitalized December 31, 2015 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) 38,908 13.69 % 22,739 8.00 % 28,424 10.00 % Tier 1 capital (to risk-weighted assets) 36,325 12.78 % 17,055 6.00 % 22,739 8.00 % Common equity tier 1 (to risk- weighted assets) 36,325 12.78 % 12,791 4.50 % 18,476 6.50 % Tier 1 leverage (to average assets) 36,325 10.64 % 13,662 4.00 % 17,077 5.00 %

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	The following table summarizes financial assets measured at fair value on a recurring and nonrecurring basis as of December 31, 2016 and 2015, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Carrying Value: Level 1 Level 2 Level 3 Total December 31, 2016 Recurring Available for sale securities State and municipal $ - $ 1,566,327 $ - $ 1,566,327 Mutual Fund 492,243 - - 492,243 SBA pools - 2,263,834 - 2,263,834 Mortgage-backed securities - 30,063,535 - 30,063,535 $ 492,243 $ 33,893,696 $ - $ 34,385,939 Nonrecurring Other real estate owned $ - $ - $ 414,000 $ 414,000 Impaired loans - - 3,318,577 3,318,577 December 31, 2015 Recurring Available for sale securities State and municipal $ - $ 1,349,242 $ - $ 1,349,242 Mortgage-backed securities - 22,295,342 - 22,295,342 $ - $ 23,644,584 $ - $ 23,644,584 Nonrecurring Other real estate owned $ - $ - $ 472,500 $ 472,500 Impaired loans - - 3,233,283 3,233,283
Fair Value, Assets Measured on NonRecurring Basis, Unobservable Input Reconciliation [Table Text Block]	Estate Owned Loans December 31, 2015 balance $ 472,500 $ 3,233,283 Additions - 271,580 Advances - 604,695 Write-downs (58,500) (230,000) Loan loss provision - 143,044 Principal payments received - (704,025) December 31, 2016 balance $ 414,000 $ 3,318,577
Fair Value, by Balance Sheet Grouping [Table Text Block]	The estimated fair value of financial instruments that are reported at amortized cost in the Company’s consolidated balance sheets, segregated by the level of the valuation inputs were as follows: December 31, 2016 December 31, 2015 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets Level 1 inputs Restated Restated Cash and cash equivalents $ 13,312,915 $ 13,312,915 $ 20,192,939 $ 20,192,939 Level 2 inputs Securities held to maturity 17,987,628 17,833,799 16,604,067 16,886,897 Mortgage loans held for sale 884,500 902,061 - - Federal Home Loan Bank stock 778,300 778,300 758,100 758,100 Level 3 inputs Loans, net 295,286,572 297,982,000 268,249,402 269,852,000 Financial liabilities Level 1 inputs Noninterest-bearing deposits $ 62,791,835 $ 62,791,835 $ 58,043,942 $ 58,043,942 Securities sold under repurchase agreements 27,226,159 27,226,159 20,490,619 20,490,619 Level 2 inputs Interest-bearing deposits 239,923,301 230,394,000 217,920,795 211,316,000 Federal Home Loan Bank advances 9,000,000 8,975,000 11,000,000 11,006,000

Quarterly Results of Operatio41

Quarterly Results of Operations (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information [Table Text Block]	Three Months Ended Unaudited 2016 December 31 September 30 June 30 March 31 Restated Interest income $ 3,992,191 $ 3,856,566 $ 3,731,160 $ 3,771,580 Interest expense 368,885 340,099 322,540 314,596 Net interest income 3,623,306 3,516,467 3,408,620 3,456,984 Provision for loan losses - - - - Net income 1,016,101 1,040,372 916,188 936,468 Earnings per share - basic and diluted $ 0.61 $ 0.63 $ 0.56 $ 0.57 2015 December 31 September 30 June 30 March 31 Interest income $ 3,728,982 $ 3,685,503 $ 3,671,377 $ 3,619,539 Interest expense 313,295 303,055 289,256 284,040 Net interest income 3,415,687 3,382,448 3,382,121 3,335,499 Provision for loan losses (15,000) - - 15,000 Net income 1,081,074 1,236,261 1,022,579 928,308 Earnings per share - basic and diluted $ 0.66 $ 0.75 $ 0.63 $ 0.57

Summary of Significant Accoun42

Summary of Significant Accounting Policies (Details Textual) - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Weighted Average Number of Shares Outstanding, Basic	1,652,014	1,633,897
Weighted Average Number Diluted Shares Outstanding Adjustment	0	0
First Community Bankers Insurance Co LLC [Member]
Equity Method Investment, Ownership Percentage	100.00%

Restatement (Details)

Restatement (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash and due from banks	$ 12,334,358	$ 18,535,302
Cash and cash equivalents	13,312,915	20,192,839	$ 12,583,313
Deferred income taxes	1,029,019	1,220,105
Other assets	2,524,842	1,028,162
Total assets	379,831,359	345,309,996
Retained earnings	12,713,099	9,960,410
Total stockholders' equity	39,012,277	36,223,361	$ 32,702,470
Total liabilities and stockholders' equity	379,831,359	$ 345,309,996
As previously reported [Member]
Cash and due from banks	13,504,081
Cash and cash equivalents	14,482,638
Deferred income taxes	1,420,891
Other assets	1,356,982
Total assets	380,225,094
Retained earnings	13,106,834
Total stockholders' equity	39,406,012
Total liabilities and stockholders' equity	380,225,094
Restatement adjustment [Member]
Cash and due from banks	(1,169,723)
Cash and cash equivalents	(1,169,723)
Deferred income taxes	(391,872)
Other assets	1,167,860
Total assets	(393,735)
Retained earnings	(393,735)
Total stockholders' equity	(393,735)
Total liabilities and stockholders' equity	$ (393,735)

Restatement (Details 1)

Restatement (Details 1) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Income taxes									$ 2,026,820	$ 2,530,205
Net income	$ 1,016,101	$ 1,040,372	$ 916,188	$ 936,468	$ 1,081,074	$ 1,236,261	$ 1,022,579	$ 928,308	$ 3,909,129	$ 4,268,222
Earnings per share - basic and diluted	$ 0.61	$ 0.63	$ 0.56	$ 0.57	$ 0.66	$ 0.75	$ 0.63	$ 0.57	$ 2.37	$ 2.61
As previously reported [Member]
Income taxes									$ 1,633,085
Net income									$ 4,302,864
Earnings per share - basic and diluted									$ 2.60
Restatement adjustment [Member]
Income taxes									$ 393,735
Net income									$ (393,735)
Earnings per share - basic and diluted									$ (0.23)

Restatement (Details 2)

Restatement (Details 2) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash paid to suppliers and employees									$ (9,441,840)	$ (8,204,143)
Cash provided by operating activities									2,438,682	4,351,051
Net increase in cash and cash equivalents									(6,879,924)	7,609,526
Cash and cash equivalents at end of period	$ 13,312,915				$ 20,192,839				13,312,915	20,192,839	$ 12,583,313
Net income	1,016,101	$ 1,040,372	$ 916,188	$ 936,468	$ 1,081,074	$ 1,236,261	$ 1,022,579	$ 928,308	3,909,129	4,268,222
Deferred income taxes									307,153
Other assets									(1,565,780)	$ (525,420)
As previously reported [Member]
Cash paid to suppliers and employees									(8,272,117)
Cash provided by operating activities									3,608,405
Net increase in cash and cash equivalents									(5,710,201)
Cash and cash equivalents at end of period	14,482,638								14,482,638
Net income									4,302,864
Deferred income taxes									(84,719)
Other assets									(397,920)
Restatement adjustment [Member]
Cash paid to suppliers and employees									(1,169,723)
Cash provided by operating activities									(1,169,723)
Net increase in cash and cash equivalents									(1,169,723)
Cash and cash equivalents at end of period	$ (1,169,723)								(1,169,723)
Net income									(393,735)
Deferred income taxes									391,872
Other assets									$ (1,167,860)

Restatement (Details Textual)

Restatement (Details Textual) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Income Tax Expense (Benefit)									$ 2,026,820	$ 2,530,205
Net Income (Loss) Attributable to Parent	$ 1,016,101	$ 1,040,372	$ 916,188	$ 936,468	$ 1,081,074	$ 1,236,261	$ 1,022,579	$ 928,308	3,909,129	$ 4,268,222
Restatement Adjustment [Member]
Income Tax Expense (Benefit)									393,735
Net Income (Loss) Attributable to Parent									$ (393,735)

Cash and Equivalents (Details T

Cash and Equivalents (Details Textual) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Cash and Cash Equivalents [Line Items]
Cash, Cash Equivalents, and Federal Funds Sold	$ 7,042,956	$ 7,772,791
Cash, FDIC Insured Amount	$ 250,000

Investment Securities (Details)

Investment Securities (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Available for sale, Amortized cost	$ 34,848,831	$ 23,777,291
Available for sale, Unrealized gains	82,651	133,331
Available for sale, Unrealized losses	545,543	266,038
Available for sale, Fair value	34,385,939	23,644,584
Held to maturity, Amortized cost	17,987,628	16,604,067
Held to maturity, Unrealized gains		346,879
Held to maturity, Unrealized losses		64,049
Held to maturity, Fair value	17,833,799	16,886,897
U. S. government agency [Member]
Held to maturity, Amortized cost		2,960,758
Held to maturity, Unrealized gains		1,373
Held to maturity, Unrealized losses		33,231
Held to maturity, Fair value		2,928,900
Mortgage-backed securities [Member]
Available for sale, Amortized cost	30,544,941	22,524,260
Available for sale, Unrealized gains	20,139	37,120
Available for sale, Unrealized losses	501,545	266,038
Available for sale, Fair value	30,063,535	22,295,342
SBA pools [Member]
Available for sale, Amortized cost	2,280,415
Available for sale, Unrealized gains	0
Available for sale, Unrealized losses	16,581
Available for sale, Fair value	2,263,834
Mutual fund [Member]
Available for sale, Amortized cost	507,612
Available for sale, Unrealized gains	0
Available for sale, Unrealized losses	15,369
Available for sale, Fair value	492,243
State and municipal [Member]
Available for sale, Amortized cost	1,515,863	1,253,031
Available for sale, Unrealized gains	62,512	96,211
Available for sale, Unrealized losses	12,048	0
Available for sale, Fair value	1,566,327	1,349,242
Held to maturity, Amortized cost	17,987,628	13,643,309
Held to maturity, Unrealized gains	163,239	345,506
Held to maturity, Unrealized losses	317,068	30,818
Held to maturity, Fair value	$ 17,833,799	$ 13,957,997

Investment Securities (Details

Investment Securities (Details 1) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Available for Sale, Within one year, Amortized cost	$ 507,612	$ 0
Available for Sale, Over one to five years, Amortized cost	0	0
Available for Sale, Over five to ten years, Amortized cost	1,136,919	501,991
Available for Sale, Over ten years, Amortized cost	378,944	751,040
Available for Sale, Single Maturity Date, Amortized Cost	2,023,475	1,253,031
Available for Sale, Mortgage-backed securities and SBA pools, due in monthly installments, Amortised cost	32,825,356	22,524,260
Available-for-sale Securities, Amortized Cost	34,848,831	23,777,291
Available for Sale, Within one year, Fair value	492,243	0
Available for Sale, Over one to five years, Fair value	0	0
Available for Sale, Over five to ten years, Fair value	1,163,288	552,070
Available for Sale, Over ten years, Fair value	403,039	797,172
Available for Sale, Single Maturity Date, Fair value	2,058,570	1,349,242
Available for Sale, Mortgage-backed securities, due in monthly installments, Fair value	32,327,369	22,295,342
Available-for-sale Securities, Debt Securities, Fair value	34,385,939	23,644,584
Held to Maturity, Within one year, Amortised cost	0	0
Held to Maturity, Over one to five years, Amortised cost	0	0
Held to Maturity, Over five to ten years, Amortised cost	2,657,130	2,276,250
Held to Maturity, Over ten years, Amortised cost	15,330,498	14,327,817
Held to Maturity, Single maturity date, Amortised cost	17,987,628	16,604,067
Held to Maturity, Mortgage-backed securities, due in monthly installments, Amortised cost	0	0
Held to Maturity Securities, Amortised cost	17,987,628	16,604,067
Held to Maturity, Within one year, Fair value	0	0
Held to Maturity, Over one to five years, Fair value	0	0
Held to Maturity, Over five to ten years, Fair value	2,702,121	2,308,733
Held to Maturity, Over ten years, Fair value	15,131,678	14,578,164
Held to Maturity, Single maturity date, Fair value	17,833,799	16,886,897
Held to Maturity, Mortgage-backed securities, due in monthly installments, Fair value	0	0
Held-to-maturity Securities, Fair Value	$ 17,833,799	$ 16,886,897

Investment Securities (Detail50

Investment Securities (Details 2) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Investment securities, Less than 12 months, Fair value	$ 38,040,344	$ 15,872,570
Investment securities, Less than 12 months, Unrealized losses	834,517	161,722
Investment securities, 12 months or more, Fair Value	1,353,900	6,164,052
Investment securities, 12 months or more, Unrealized losses	28,094	168,365
Investment securities, Total, Fair Value	39,394,244	22,036,622
Investment securities, Total, Unrealized losses	862,611	330,087
SBA pools [Member]
Investment securities, Less than 12 months, Fair value	2,263,834
Investment securities, Less than 12 months, Unrealized losses	16,581
Investment securities, 12 months or more, Fair Value	0
Investment securities, 12 months or more, Unrealized losses	0
Investment securities, Total, Fair Value	2,263,834
Investment securities, Total, Unrealized losses	16,581
Mortgage-backed securities [Member]
Investment securities, Less than 12 months, Fair value	26,726,037	15,299,536
Investment securities, Less than 12 months, Unrealized losses	473,451	156,187
Investment securities, 12 months or more, Fair Value	1,353,900	3,431,902
Investment securities, 12 months or more, Unrealized losses	28,094	109,851
Investment securities, Total, Fair Value	28,079,937	18,731,438
Investment securities, Total, Unrealized losses	501,545	266,038
Mutual fund [Member]
Investment securities, Less than 12 months, Fair value	492,243
Investment securities, Less than 12 months, Unrealized losses	15,369
Investment securities, 12 months or more, Fair Value	0
Investment securities, 12 months or more, Unrealized losses	0
Investment securities, Total, Fair Value	492,243
Investment securities, Total, Unrealized losses	15,369
State and municipal [Member]
Investment securities, Less than 12 months, Fair value	8,558,230	573,034
Investment securities, Less than 12 months, Unrealized losses	329,116	5,535
Investment securities, 12 months or more, Fair Value	0	804,623
Investment securities, 12 months or more, Unrealized losses	0	25,283
Investment securities, Total, Fair Value	8,558,230	1,377,657
Investment securities, Total, Unrealized losses	$ 329,116	30,818
U. S. government agency [Member]
Investment securities, Less than 12 months, Fair value		0
Investment securities, Less than 12 months, Unrealized losses		0
Investment securities, 12 months or more, Fair Value		1,927,527
Investment securities, 12 months or more, Unrealized losses		33,231
Investment securities, Total, Fair Value		1,927,527
Investment securities, Total, Unrealized losses		$ 33,231

Investment Securities (Detail51

Investment Securities (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Trading Securities Pledged as Collateral	$ 33,146,328	$ 26,036,893
Proceeds from Sale and Maturity of Marketable Securities	$ 298,379	1,060,402
Available-for-sale Securities, Gross Realized Gain (Loss)		10,586
Held-to-maturity Securities, Sold Security, Realized Gain (Loss)		(16,094)
Held-to-maturity Securities, Sold Security, at Carrying Value		$ 530,812

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Balance, beginning of year	$ 13,148,726	$ 12,732,702
Additions	3,987,121	3,473,398
Amounts collected	(4,205,038)	(3,057,374)
Change in related parties	(148,576)	0
Balance, end of year	$ 12,782,233	$ 13,148,726

Related Party Transactions (D53

Related Party Transactions (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Loans and Leases Receivable, Related Parties	$ 12,782,233	$ 13,148,726	$ 12,732,702
Deposits Liabilities Related parties	15,933,380	13,732,380
Payments to Fund Long-term Loans to Related Parties	2,697	90,479
Director [Member]
Related Party Transaction [Line Items]
Payments to Fund Long-term Loans to Related Parties	1,000	3,000
Retailer Affiliated with a Director [Member]
Related Party Transaction [Line Items]
Payments to Fund Long-term Loans to Related Parties	82	2,779
Letter of Credit [Member]
Related Party Transaction [Line Items]
Loans and Leases Receivable, Related Parties	6,534	6,534
Unused lines of Credit [Member]
Related Party Transaction [Line Items]
Loans and Leases Receivable, Related Parties	$ 2,220,128	$ 2,240,340

Loans (Details)

Loans (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Loans and Leases Receivable, Gross	$ 298,126,919	$ 271,263,338
Less: Allowance for loan losses	2,363,086	2,583,445
Deferred origination fees net of costs	477,261	430,491
Loans and Leases Receivable, Net Amount	295,286,572	268,249,402
Commercial [Member]
Loans and Leases Receivable, Gross	22,152,773	19,562,302
Consumer [Member]
Loans and Leases Receivable, Gross	725,269	886,175
Real estate [Member] | Commercial Real estate [Member]
Loans and Leases Receivable, Gross	206,145,076	186,703,868
Real estate [Member] | Construction and land development [Member]
Loans and Leases Receivable, Gross	14,392,992	12,820,165
Real estate [Member] | Residential [Member]
Loans and Leases Receivable, Gross	$ 54,710,809	$ 51,290,828

Loans (Details 1)

Loans (Details 1) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Loans and Leases Receivable, Variable rate, immediately	$ 41,628,685	$ 27,803,011
Loans and Leases Receivable, Due within one year	48,381,221	33,826,370
Loans and Leases Receivable, Due over one to five years	126,810,275	153,408,126
Loans and Leases Receivable, Due over five years	81,306,738	56,225,831
Loans and Leases Receivable, Gross	$ 298,126,919	$ 271,263,338

Loans (Details 2)

Loans (Details 2) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Commercial real estate [Member]
Commercial real estate, nonaccrual loans	$ 752,889	$ 956,813

Loans (Details 3)

Loans (Details 3) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	$ 1,626,162	$ 956,813
Financing Receivable, Recorded Investment, Current	296,500,757	270,306,525
Loans and Leases Receivable, Total Loans	298,126,919	271,263,338
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing	0	0
Commercial Real Estate Portfolio Segment [Member] | Real Estate Sector [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Financing Receivable, Recorded Investment, Current	206,145,076	186,703,868
Loans and Leases Receivable, Total Loans	206,145,076	186,703,868
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing	0	0
Construction and Land Development [Member] | Real Estate Sector [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	752,889	956,813
Financing Receivable, Recorded Investment, Current	13,640,103	11,863,352
Loans and Leases Receivable, Total Loans	14,392,992	12,820,165
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing	0	0
Residential Portfolio Segment [Member] | Real Estate Sector [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	824,554	0
Financing Receivable, Recorded Investment, Current	53,886,255	51,290,828
Loans and Leases Receivable, Total Loans	54,710,809	51,290,828
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing	0	0
Commercial Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	48,719	0
Financing Receivable, Recorded Investment, Current	22,104,054	19,562,302
Loans and Leases Receivable, Total Loans	22,152,773	19,562,302
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing	0	0
Consumer Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Financing Receivable, Recorded Investment, Current	725,269	886,175
Loans and Leases Receivable, Total Loans	725,269	886,175
Financing Receivable, Recorded Investment, 90 Days Past Due and Still Accruing	0	0
Financing Receivables, 30 to 59 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	873,273	0
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Sector [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Financing Receivables, 30 to 59 Days Past Due [Member] | Construction and Land Development [Member] | Real Estate Sector [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Financing Receivables, 30 to 59 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Sector [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	824,554	0
Financing Receivables, 30 to 59 Days Past Due [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	48,719	0
Financing Receivables, 30 to 59 Days Past Due [Member] | Consumer Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Financing Receivables, 60 to 89 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Sector [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Financing Receivables, 60 to 89 Days Past Due [Member] | Construction and Land Development [Member] | Real Estate Sector [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Financing Receivables, 60 to 89 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Sector [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Financing Receivables, 60 to 89 Days Past Due [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Financing Receivables, 60 to 89 Days Past Due [Member] | Consumer Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	752,889	956,813
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Real Estate Portfolio Segment [Member] | Real Estate Sector [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Construction and Land Development [Member] | Real Estate Sector [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	752,889	956,813
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Residential Portfolio Segment [Member] | Real Estate Sector [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Commercial Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	0	0
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | Consumer Portfolio Segment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable, Recorded Investment, Past Due	$ 0	$ 0

Loans (Details 4)

Loans (Details 4) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Financing Receivable, Impaired [Line Items]
Unpaid Contractual Principal Balance	$ 3,772,745	$ 3,600,494
Recorded Investment With No Allowance	2,348,275	2,443,681
Recorded Investment With Allowance	994,469	956,813
Total Recorded Investment	3,342,744	3,400,494
Related Allowance	24,167	167,211
Average Recorded Investment	3,371,620	2,980,391
Interest Recognized	139,702	144,847
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment With No Allowance	2,183,509	2,240,046
Recorded Investment With Allowance	241,580
Commercial Portfolio Segment [Member]
Financing Receivable, Impaired [Line Items]
Unpaid Contractual Principal Balance	164,766	203,635
Recorded Investment With No Allowance	164,766	203,635
Recorded Investment With Allowance	0	0
Total Recorded Investment	164,766	203,635
Related Allowance	0	0
Average Recorded Investment	184,201	220,421
Interest Recognized	14,442	15,644
Real Estate Sector [Member] | Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Impaired [Line Items]
Unpaid Contractual Principal Balance	2,455,090	2,240,046
Recorded Investment With No Allowance	2,183,509	2,240,046
Recorded Investment With Allowance	241,580	0
Total Recorded Investment	2,425,089	2,240,046
Related Allowance	7,580	0
Average Recorded Investment	2,332,568	2,281,563
Interest Recognized	125,260	115,663
Real Estate Sector [Member] | Construction and Land Development [Member]
Financing Receivable, Impaired [Line Items]
Unpaid Contractual Principal Balance	1,152,889	1,156,813
Recorded Investment With No Allowance	0	0
Recorded Investment With Allowance	752,889	956,813
Total Recorded Investment	752,889	956,813
Related Allowance	16,587	167,211
Average Recorded Investment	854,851	478,407
Interest Recognized	$ 0	$ 13,540

Loans (Details 5)

Loans (Details 5) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	$ 298,126,919	$ 271,263,338
Excellent [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	1,819,599	2,181,537
Above average [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	12,773,247	15,164,486
Average [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	219,508,855	220,060,793
Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	43,852,711	15,136,942
Pass watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	4,780,207	4,483,862
Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	8,962,940	6,366,296
Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	6,399,618	7,843,897
Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	29,742	25,525
Commercial Portfolio Segment [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	22,152,773	19,562,302
Commercial Portfolio Segment [Member] | Excellent [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	1,666,880	1,932,013
Commercial Portfolio Segment [Member] | Above average [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	77,745	46,401
Commercial Portfolio Segment [Member] | Average [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	18,469,572	14,685,120
Commercial Portfolio Segment [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	1,228,598	1,184,530
Commercial Portfolio Segment [Member] | Pass watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	545,212	199,950
Commercial Portfolio Segment [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	164,766	203,635
Commercial Portfolio Segment [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	0	1,310,653
Commercial Portfolio Segment [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	0	0
Consumer Portfolio Segment [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	725,269	886,175
Consumer Portfolio Segment [Member] | Excellent [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	42,577	67,862
Consumer Portfolio Segment [Member] | Above average [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	121,306	253,706
Consumer Portfolio Segment [Member] | Average [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	476,465	481,073
Consumer Portfolio Segment [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	51,339	11,207
Consumer Portfolio Segment [Member] | Pass watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	0	46,802
Consumer Portfolio Segment [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	0	0
Consumer Portfolio Segment [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	3,840	0
Consumer Portfolio Segment [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	29,742	25,525
Real estate [Member] | Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	206,145,076	186,703,868
Real estate [Member] | Commercial Real Estate Portfolio Segment [Member] | Excellent [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	0	0
Real estate [Member] | Commercial Real Estate Portfolio Segment [Member] | Above average [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	9,584,756	11,100,467
Real estate [Member] | Commercial Real Estate Portfolio Segment [Member] | Average [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	147,668,371	151,135,140
Real estate [Member] | Commercial Real Estate Portfolio Segment [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	32,474,566	11,019,894
Real estate [Member] | Commercial Real Estate Portfolio Segment [Member] | Pass watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	3,883,813	3,505,988
Real estate [Member] | Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	8,644,563	6,162,661
Real estate [Member] | Commercial Real Estate Portfolio Segment [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	3,889,007	3,779,718
Real estate [Member] | Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	0	0
Real estate [Member] | Construction and Land Development [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	14,392,992	12,820,165
Real estate [Member] | Construction and Land Development [Member] | Excellent [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	0	0
Real estate [Member] | Construction and Land Development [Member] | Above average [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	178,078	285,534
Real estate [Member] | Construction and Land Development [Member] | Average [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	10,178,876	10,037,269
Real estate [Member] | Construction and Land Development [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	2,039,090	418,834
Real estate [Member] | Construction and Land Development [Member] | Pass watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	0	0
Real estate [Member] | Construction and Land Development [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	153,611	0
Real estate [Member] | Construction and Land Development [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	1,843,337	2,078,528
Real estate [Member] | Construction and Land Development [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	0	0
Real estate [Member] | Residential Portfolio Segment [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	54,710,809	51,290,828
Real estate [Member] | Residential Portfolio Segment [Member] | Excellent [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	110,142	181,662
Real estate [Member] | Residential Portfolio Segment [Member] | Above average [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	2,811,362	3,478,378
Real estate [Member] | Residential Portfolio Segment [Member] | Average [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	42,715,571	43,722,191
Real estate [Member] | Residential Portfolio Segment [Member] | Acceptable [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	8,059,118	2,502,477
Real estate [Member] | Residential Portfolio Segment [Member] | Pass watch [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	351,182	731,122
Real estate [Member] | Residential Portfolio Segment [Member] | Special Mention [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	0	0
Real estate [Member] | Residential Portfolio Segment [Member] | Substandard [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	663,434	674,998
Real estate [Member] | Residential Portfolio Segment [Member] | Doubtful [Member]
Financing Receivable, Recorded Investment [Line Items]
Loans and Leases Receivable, Gross	$ 0	$ 0

Loans (Details 6)

Loans (Details 6) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Beginning balance	$ 2,583,445	$ 2,780,249
Provision for loan losses	0	0
Charge offs	(330,485)	(200,000)
Recoveries	110,126	3,196
Ending balance	2,363,086	2,583,445
Allowance for loan losses ending balance evaluated for impairment: Individually	24,167	167,211
Allowance for loan losses ending balance evaluated for impairment: Collectively	2,338,919	2,416,234
Outstanding loan balances evaluated for impairment: Individually	3,342,744	3,400,494
Outstanding loan balances evaluated for impairment: Collectively	294,784,175	267,862,844
Residential Portfolio Segment [Member]
Beginning balance	322,084	278,943
Provision for loan losses	(184,773)	42,299
Charge offs	0	0
Recoveries	110,126	842
Ending balance	247,437	322,084
Allowance for loan losses ending balance evaluated for impairment: Individually	0	0
Allowance for loan losses ending balance evaluated for impairment: Collectively	247,437	322,084
Outstanding loan balances evaluated for impairment: Individually	0	0
Outstanding loan balances evaluated for impairment: Collectively	54,710,809	51,290,828
Consumer Portfolio Segment [Member]
Beginning balance	7,900	8,215
Provision for loan losses	926	(315)
Charge offs	0	0
Recoveries	0	0
Ending balance	8,826	7,900
Allowance for loan losses ending balance evaluated for impairment: Individually	0	0
Allowance for loan losses ending balance evaluated for impairment: Collectively	8,826	7,900
Outstanding loan balances evaluated for impairment: Individually	0	0
Outstanding loan balances evaluated for impairment: Collectively	725,269	886,175
Commercial Real Estate Loan [Member]
Beginning balance	1,718,256	1,848,163
Provision for loan losses	29,493	(129,907)
Charge offs	(30,000)	0
Recoveries	0	0
Ending balance	1,717,749	1,718,256
Allowance for loan losses ending balance evaluated for impairment: Individually	7,580	0
Allowance for loan losses ending balance evaluated for impairment: Collectively	1,710,169	1,718,256
Outstanding loan balances evaluated for impairment: Individually	2,425,089	2,240,046
Outstanding loan balances evaluated for impairment: Collectively	203,719,987	184,463,822
Construction Loans [Member]
Beginning balance	306,982	458,211
Provision for loan losses	97,878	48,771
Charge offs	(200,000)	(200,000)
Recoveries	0	0
Ending balance	204,860	306,982
Allowance for loan losses ending balance evaluated for impairment: Individually	16,587	167,211
Allowance for loan losses ending balance evaluated for impairment: Collectively	188,273	139,771
Outstanding loan balances evaluated for impairment: Individually	752,889	956,813
Outstanding loan balances evaluated for impairment: Collectively	13,640,103	11,863,352
Financial Receivable ,Commercial Loan [Member]
Beginning balance	132,362	171,104
Provision for loan losses	93,383	(41,096)
Charge offs	(100,485)	0
Recoveries	0	2,354
Ending balance	125,260	132,362
Allowance for loan losses ending balance evaluated for impairment: Individually	0	0
Allowance for loan losses ending balance evaluated for impairment: Collectively	125,260	132,362
Outstanding loan balances evaluated for impairment: Individually	164,766	203,635
Outstanding loan balances evaluated for impairment: Collectively	21,988,007	19,358,667
Financial Receivable ,Unallocated [Member]
Beginning balance	95,861	15,613
Provision for loan losses	(36,907)	80,248
Charge offs	0	0
Recoveries	0	0
Ending balance	58,954	95,861
Allowance for loan losses ending balance evaluated for impairment: Individually	0	0
Allowance for loan losses ending balance evaluated for impairment: Collectively	58,954	95,861
Outstanding loan balances evaluated for impairment: Individually	0	0
Outstanding loan balances evaluated for impairment: Collectively	$ 0	$ 0

Loans (Details Textual)

Loans (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for Loan, Lease, and Other Losses	$ 0	$ 0
Financing Receivable, Allowance for Credit Losses, Write-downs	330,485	200,000
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	2,348,275	2,443,681
Impaired Financing Receivable, with Related Allowance, Recorded Investment	994,469	956,813
Participating Mortgage Loans, Participation Liabilities, Amount	31,000,000	27,500,000
Federal Reserve Bank Advances [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Pledged as Collateral	41,000,000
Federal Home Loan Bank of Atlanta [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans Pledged as Collateral	61,000,000
Commercial Real Estate Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Recorded Investment, Nonaccrual Status	752,889	956,813
Provision for Loan, Lease, and Other Losses	7,580
Financing Receivable, Allowance for Credit Losses, Write-downs	30,000
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	2,183,509	2,240,046
Financing Receivable, Modifications, Recorded Investment	271,580
Impaired Financing Receivable, with Related Allowance, Recorded Investment	241,580
Commercial Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Impaired Financing Receivable, with No Related Allowance, Recorded Investment	164,766	203,635
Impaired Financing Receivable, with Related Allowance, Recorded Investment	0	0
Construction Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Recorded Investment, Nonaccrual Status	752,889	956,813
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans	38,028	35,631
Provision for Loan, Lease, and Other Losses	97,878	48,771
Financing Receivable, Allowance for Credit Losses, Write-downs	$ 200,000	$ 200,000

Premises and Equipment (Details

Premises and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment, Gross	$ 11,103,159	$ 10,921,619
Accumulated depreciation and amortization	5,653,481	5,273,686
Property, Plant and Equipment, Net	5,449,678	5,647,933
Depreciation and amortization expense	379,795	339,269
Land Improvements [Member]
Property, Plant and Equipment, Gross	1,952,998	1,952,998
Building Improvements [Member]
Property, Plant and Equipment, Gross	$ 5,659,635	5,659,635
Building Improvements [Member] | Maximum [Member]
Property, Plant and Equipment, Estimated Useful Lives	39 years
Building Improvements [Member] | Minimum [Member]
Property, Plant and Equipment, Estimated Useful Lives	15 years
Furniture and Fixtures [Member]
Property, Plant and Equipment, Gross	$ 3,490,526	$ 3,308,986
Furniture and Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment, Estimated Useful Lives	10 years
Furniture and Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment, Estimated Useful Lives	3 years

Premises and Equipment (Detai63

Premises and Equipment (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Intangible Assets, Net (Excluding Goodwill)	$ 185,253	$ 251,983
Amortization of Intangible Assets	$ 69,100	$ 46,442

Lease Commitments (Details)

Lease Commitments (Details)	Dec. 31, 2016USD ($)
2,017	$ 108,993
2,018	83,835
2,019	72,678
2,020	24,303
2,021	0
Thereafter	0
Operating Leases, Future Minimum Payments Due	$ 289,809

Lease Commitments (Details Text

Lease Commitments (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Operating Leases, Rent Expense	$ 128,200	$ 103,140

Credit Commitments (Details)

Credit Commitments (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Loans and Leases Receivable, Commitments to Purchase or Sell	$ 22,329,407	$ 20,146,130
Letter of Credit [Member]
Loans and Leases Receivable, Commitments to Purchase or Sell	1,281,848	1,408,460
Unused lines of Credit [Member]
Loans and Leases Receivable, Commitments to Purchase or Sell	30,527,535	36,539,067
Construction Loans [Member] | Loan Origination Commitments [Member]
Loans and Leases Receivable, Commitments to Purchase or Sell	250,000	0
Commercial Loan [Member] | Loan Origination Commitments [Member]
Loans and Leases Receivable, Commitments to Purchase or Sell	1,050,000	482,000
Commercial Real Estate [Member] | Loan Origination Commitments [Member]
Loans and Leases Receivable, Commitments to Purchase or Sell	17,134,718	14,898,000
Residential Portfolio Segment [Member] | Loan Origination Commitments [Member]
Loans and Leases Receivable, Commitments to Purchase or Sell	3,894,689	4,766,130
Home Equity Loan [Member] | Unused lines of Credit [Member]
Loans and Leases Receivable, Commitments to Purchase or Sell	3,345,309	3,307,863
Commercial lines [Member] | Unused lines of Credit [Member]
Loans and Leases Receivable, Commitments to Purchase or Sell	$ 27,182,226	$ 33,231,204

Retirement Plans (Details Textu

Retirement Plans (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent	4.00%
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	100.00%
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 165,224	$ 153,534
Defined Benefit Plan, Net Periodic Benefit Cost	4,816	4,433
Supplemental Executive Retirement Plans [Member]
Defined Benefit Plan, Interest Cost	$ 240,193	$ 228,929

Interest-Bearing Deposits (Deta

Interest-Bearing Deposits (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
NOW	$ 40,090,252	$ 35,533,282
Money market	64,859,044	52,598,431
Savings	40,158,833	36,343,747
Certificates of deposit, $250,000 or more	15,233,383	16,979,039
Other time deposits	79,581,789	76,466,296
Interest-bearing Deposit Liabilities	$ 239,923,301	$ 217,920,795

Interest-Bearing Deposits (De69

Interest-Bearing Deposits (Details 1)	Dec. 31, 2016USD ($)
2,017	$ 44,931,000
2,018	22,124,546
2,019	20,824,692
2,020	3,325,772
2,021	3,509,162
Thereafter	100,000
Time Deposits	$ 94,815,172

Borrowed Funds (Details)

Borrowed Funds (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Securities sold under repurchase agreements	$ 27,226,159	$ 20,490,619
Federal Home Loan Bank of Atlanta advances	9,000,000	11,000,000
Federal Home Loan Bank advances mature in:
2,016	0	5,000,000
2,017	2,000,000	1,000,000
2,018	5,000,000	5,000,000
2,019	$ 2,000,000	$ 0
Weighted average rate, federal Home Loan Bank advances (at percentage)	1.11%	0.94%
Federal Home Loan Bank advances	$ 16,000,000	$ 11,000,000
Federal Home Loan Bank, Advances, Activity for Year, Average Balance of Agreements Outstanding	$ 10,833,333	$ 10,778,082
Average rate, federal Home Loan Bank advances (at percentage)	0.94%	0.75%
Carrying value	$ 28,191,745	$ 21,127,194
Estimated fair value	28,165,979	21,355,393
Carrying value	60,858,326	57,812,753
Carrying value	$ 40,954,231	$ 34,487,029
Securities Sold under Agreements to Repurchase [Member]
Federal Home Loan Bank advances mature in:
Weighted average rate, securities sold under repurchase agreements (at percentage)	0.63%	0.53%
Securities sold under repurchase agreements	$ 32,287,740	$ 20,655,156
Short-term Debt, Average Outstanding Amount	$ 25,320,795	$ 18,582,245
Average rate, securities sold under repurchase agreements (at percentage)	0.64%	0.54%
Borrowings from FRB and Commercial Banks [Member]
Federal Home Loan Bank advances mature in:
Short-term Debt, Average Outstanding Amount	$ 21,861	$ 2,742
Average rate, securities sold under repurchase agreements (at percentage)	0.67%	0.52%

Borrowed Funds (Details Textual

Borrowed Funds (Details Textual) $ in Millions	Dec. 31, 2016USD ($)
Federal Reserve Bank Advances [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 30.3
Secured Line of Credit [Member]
Long-term Line of Credit	2
Secured Line of Credit [Member] | Federal Home Loan Bank of Atlanta [Member]
Line of Credit Facility, Maximum Borrowing Capacity	53.3
Unsecured Line of Credit [Member]
Long-term Line of Credit	$ 9

Other Noninterest Expenses (Det

Other Noninterest Expenses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Other Noninterest Expense	$ 2,356,494	$ 2,082,134
Automated teller machine and debit card expenses [Member]
Other Noninterest Expense	331,368	263,220
Professional services [Member]
Other Noninterest Expense	311,702	224,333
Advertising [Member]
Other Noninterest Expense	217,116	196,112
Directors fees [Member]
Other Noninterest Expense	189,263	188,476
Stationery, printing, and supplies [Member]
Other Noninterest Expense	188,070	153,491
Telephone [Member]
Other Noninterest Expense	185,532	149,375
Postage, delivery, and armored carrier [Member]
Other Noninterest Expense	179,344	179,109
Federal Deposit Insurance Corporation premiums [Member]
Other Noninterest Expense	147,940	168,135
Internet banking fees [Member]
Other Noninterest Expense	143,210	111,471
Correspondent bank services [Member]
Other Noninterest Expense	79,278	63,240
Travel and conferences [Member]
Other Noninterest Expense	48,970	56,173
Liability insurance [Member]
Other Noninterest Expense	46,917	46,880
Maryland state regulatory assessment [Member]
Other Noninterest Expense	41,531	39,279
Dues and subscriptions [Member]
Other Noninterest Expense	39,752	37,538
Remote deposit expenses [Member]
Other Noninterest Expense	29,722	28,782
Credit reports [Member]
Other Noninterest Expense	25,276	21,619
Contributions [Member]
Other Noninterest Expense	23,160	22,715
Education and training [Member]
Other Noninterest Expense	15,669	11,378
Other real estate owned [Member]
Other Noninterest Expense	15,252	32,695
Other Miscellaneous [Member]
Other Noninterest Expense	$ 97,422	$ 88,113

Income Taxes (Details)

Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Current
Federal	$ 1,355,273	$ 1,893,991
State	364,394	541,064
Current Income Tax Expense (Benefit), Total	1,719,667	2,435,055
Deferred	307,153	95,150
Income Tax Expense (Benefit), Total	$ 2,026,820	$ 2,530,205

Income Taxes (Details 1)

Income Taxes (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Depreciation	$ (46,226)	$ 106,757
Provision for loan losses	96,206	31,094
Other real estate owned allowance for loss	(23,075)	63,403
Nonaccrual interest	(15,000)	(14,054)
Prepaid captive insurance premium	393,735	0
Post-retirement benefits	(96,624)	(92,050)
Deferred Income Tax Expense (Benefit), Total	307,153	95,150
Deferred tax assets
Allowance for loan losses	765,966	862,172
Other real estate owned allowance for loss	246,925	223,850
Write-down of equity securities	5,522	5,522
Nonaccrual interest	29,055	14,054
Post-retirement benefits	520,410	423,786
Unrealized loss on securities available for sale	182,588	66,522
Deferred Tax Assets, Net of Valuation Allowance, Total	1,750,466	1,595,906
Deferred tax liabilities
Prepaid captive insurance premium	393,735	0
Depreciation	329,575	375,801
Deferred Tax Liabilities, Total	723,310	375,801
Net deferred tax asset, Total	$ 1,027,156	$ 1,220,105

Income Taxes (Details 2)

Income Taxes (Details 2)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Statutory federal income tax rate	34.00%	34.00%
Increase (decrease) resulting from:
Federal tax-exempt income	(4.90%)	(2.20%)
State income taxes, net of federal income tax benefit	4.90%	5.20%
Nondeductible expenses	0.10%	0.10%
Other	0.00%	0.10%
Effective Income Tax Rate Reconciliation, Percent	34.10%	37.20%

Capital Standards (Details)

Capital Standards (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Total capital (to risk-weighted assets), Actual Amount	$ 41,385	$ 38,908
Total capital (to risk-weighted assets), Actual Ratio	13.18%	13.69%
Total capital (to risk-weighted assets), Minimum Capital Adequacy Amount	$ 27,076	$ 22,739
Total capital (to risk-weighted assets), Minimum Capital Adequacy Ratio	8.63%	8.00%
Total capital (to risk-weighted assets),To Be Well Capitalized Amount	$ 31,392	$ 28,424
Total capital (to risk-weighted assets),To Be Well Capitalized Ratio	10.00%	10.00%
Tier 1 capital (to risk-weighted assets), Actual Amount	$ 39,022	$ 36,325
Tier 1 capital (to risk-weighted assets), Actual Ratio	12.43%	12.78%
Tier 1 capital (to risk-weighted assets), Minimum Capital Adequacy Amount	$ 20,797	$ 17,055
Tier 1 capital (to risk-weighted assets), Minimum Capital Adequacy Ratio	6.63%	6.00%
Tier 1 capital (to risk-weighted assets),To Be Well Capitalized Amount	$ 25,114	$ 22,739
Tier 1 capital (to risk-weighted assets),To Be Well Capitalized Ratio	8.00%	8.00%
Common equity tier 1 (to risk- weighted assets), Actual Amount	$ 39,022	$ 36,325
Common equity tier 1 (to risk- weighted assets), Actual Ratio	12.43%	12.78%
Common equity tier 1 (to risk- weighted assets), Minimum Capital Adequacy Amount	$ 16,089	$ 12,791
Common equity tier 1 (to risk- weighted assets), Minimum Capital Adequacy Ratio	5.13%	4.50%
Common equity tier 1 (to risk- weighted assets),To Be Well Capitalized Amount	$ 20,405	$ 18,476
Common equity tier 1 (to risk- weighted assets),To Be Well Capitalized Ratio	6.50%	6.50%
Tier 1 leverage (to average assets), Actual Amount	$ 39,022	$ 36,325
Tier 1 leverage (to average assets), Actual Ratio	10.39%	10.64%
Tier 1 leverage (to average assets), Minimum Capital Adequacy Amount	$ 15,025	$ 13,662
Tier 1 leverage (to average assets), Minimum Capital Adequacy Ratio	4.00%	4.00%
Tier 1 leverage (to average assets),To Be Well Capitalized Amount	$ 18,781	$ 17,077
Tier 1 leverage (to average assets),To Be Well Capitalized Ratio	5.00%	5.00%

Capital Standards (Details Text

Capital Standards (Details Textual)	12 Months Ended
	Dec. 31, 2016
Description of Regulatory Requirements, Capital Adequacy Purposes	The implementation of the capital conservation buffer will begin on January 1, 2016, at the 0.625% level and be phased in over a four-year period (increasing by that amount on each subsequent January 1, until it reaches 2.5% on January 1, 2019).

Fair Value (Details)

Fair Value (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Available for sale securities
Assets, Fair Value Disclosure, Recurring	$ 34,385,939	$ 23,644,584
Assets, Fair Value Disclosure, Nonrecurring	414,000
Other real estate owned [Member]
Available for sale securities
Assets, Fair Value Disclosure, Nonrecurring	414,000	472,500
Impaired Loans [Member]
Available for sale securities
Assets, Fair Value Disclosure, Nonrecurring	3,318,577	3,233,283
Mutual Fund [Member]
Available for sale securities
Assets, Fair Value Disclosure, Recurring	492,243
SBA pools [Member]
Available for sale securities
Assets, Fair Value Disclosure, Recurring	2,263,834
US Treasury and Government [Member]
Available for sale securities
Assets, Fair Value Disclosure, Recurring	1,566,327	1,349,242
Collateralized Mortgage Backed Securities [Member]
Available for sale securities
Assets, Fair Value Disclosure, Recurring	30,063,535	22,295,342
Fair Value, Inputs, Level 1 [Member]
Available for sale securities
Assets, Fair Value Disclosure, Recurring	492,243	0
Assets, Fair Value Disclosure, Nonrecurring	0	0
Fair Value, Inputs, Level 1 [Member] | Other real estate owned [Member]
Available for sale securities
Assets, Fair Value Disclosure, Nonrecurring		0
Fair Value, Inputs, Level 1 [Member] | Impaired Loans [Member]
Available for sale securities
Assets, Fair Value Disclosure, Nonrecurring	0
Fair Value, Inputs, Level 1 [Member] | Mutual Fund [Member]
Available for sale securities
Assets, Fair Value Disclosure, Recurring	492,243
Fair Value, Inputs, Level 1 [Member] | SBA pools [Member]
Available for sale securities
Assets, Fair Value Disclosure, Recurring	0
Fair Value, Inputs, Level 1 [Member] | US Treasury and Government [Member]
Available for sale securities
Assets, Fair Value Disclosure, Recurring	0	0
Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage Backed Securities [Member]
Available for sale securities
Assets, Fair Value Disclosure, Recurring	0	0
Fair Value, Inputs, Level 2 [Member]
Available for sale securities
Assets, Fair Value Disclosure, Recurring	33,893,696	23,644,584
Assets, Fair Value Disclosure, Nonrecurring	0	0
Fair Value, Inputs, Level 2 [Member] | Other real estate owned [Member]
Available for sale securities
Assets, Fair Value Disclosure, Nonrecurring		0
Fair Value, Inputs, Level 2 [Member] | Impaired Loans [Member]
Available for sale securities
Assets, Fair Value Disclosure, Nonrecurring	0
Fair Value, Inputs, Level 2 [Member] | Mutual Fund [Member]
Available for sale securities
Assets, Fair Value Disclosure, Recurring	0
Fair Value, Inputs, Level 2 [Member] | SBA pools [Member]
Available for sale securities
Assets, Fair Value Disclosure, Recurring	2,263,834
Fair Value, Inputs, Level 2 [Member] | US Treasury and Government [Member]
Available for sale securities
Assets, Fair Value Disclosure, Recurring	1,566,327	1,349,242
Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Backed Securities [Member]
Available for sale securities
Assets, Fair Value Disclosure, Recurring	30,063,535	22,295,342
Fair Value, Inputs, Level 3 [Member]
Available for sale securities
Assets, Fair Value Disclosure, Recurring	0	0
Assets, Fair Value Disclosure, Nonrecurring	414,000
Fair Value, Inputs, Level 3 [Member] | Other real estate owned [Member]
Available for sale securities
Assets, Fair Value Disclosure, Nonrecurring		472,500
Fair Value, Inputs, Level 3 [Member] | Impaired Loans [Member]
Available for sale securities
Assets, Fair Value Disclosure, Nonrecurring	3,318,577	3,233,283
Fair Value, Inputs, Level 3 [Member] | Mutual Fund [Member]
Available for sale securities
Assets, Fair Value Disclosure, Recurring	0
Fair Value, Inputs, Level 3 [Member] | SBA pools [Member]
Available for sale securities
Assets, Fair Value Disclosure, Recurring	0
Fair Value, Inputs, Level 3 [Member] | US Treasury and Government [Member]
Available for sale securities
Assets, Fair Value Disclosure, Recurring	0	0
Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage Backed Securities [Member]
Available for sale securities
Assets, Fair Value Disclosure, Recurring	$ 0	$ 0

Fair Value (Details 1)

Fair Value (Details 1)	12 Months Ended
	Dec. 31, 2016USD ($)
Ending Balance	$ 414,000
Other real estate owned [Member]
Beginning balance	472,500
Additions	0
Advances	0
Write-downs	(58,500)
Loan loss provision	0
Principal payments received	0
Ending Balance	414,000
Impaired Loans [Member]
Beginning balance	3,233,283
Additions	271,580
Advances	604,695
Write-downs	(230,000)
Loan loss provision	143,044
Principal payments received	(704,025)
Ending Balance	$ 3,318,577

Fair Value (Details 2)

Fair Value (Details 2) - USD ($)	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Financial assets
Cash and cash equivalents, Carrying Value	$ 13,312,915	$ 20,192,839	$ 12,583,313
Securities held to maturity, Carrying Value	17,987,628	16,604,067
Federal Home Loan Bank stock, Carrying Value	778,300	758,100
Loans, net, Carrying Value	295,286,572	268,249,402
Financial liabilities
Noninterest-bearing deposits, Carrying Value	62,791,835	58,043,942
Securities sold under repurchase agreements, Carrying Value	27,226,159	20,490,619
Interest-bearing deposits, Carrying Value	239,923,301	217,920,795
Federal Home Loan Bank advances, Carrying Value	9,000,000	11,000,000
Fair Value, Inputs, Level 1 [Member]
Financial assets
Cash and cash equivalents, Carrying Value	13,312,915	20,192,939
Cash and cash equivalents, Estimated Fair Value	13,312,915	20,192,939
Financial liabilities
Noninterest-bearing deposits, Carrying Value	62,791,835	58,043,942
Securities sold under repurchase agreements, Carrying Value	27,226,159	20,490,619
Noninterest-bearing deposits, Estimated Fair Value	62,791,835	58,043,942
Securities sold under repurchase agreements, Estimated Fair Value	27,226,159	20,490,619
Fair Value, Inputs, Level 2 [Member]
Financial assets
Securities held to maturity, Carrying Value	17,987,628	16,604,067
Mortgage loans held for sale, Carrying Value	884,500	0
Federal Home Loan Bank stock, Carrying Value	778,300	758,100
Securities held to maturity, Estimated Fair Value	17,833,799	16,886,897
Mortgage loans held for sale, Estimated Fair Value	902,061	0
Federal Home Loan Bank stock, Estimated Fair Value	778,300	758,100
Financial liabilities
Interest-bearing deposits, Carrying Value	239,923,301	217,920,795
Federal Home Loan Bank advances, Carrying Value	9,000,000	11,000,000
Interest-bearing deposits, Estimated Fair Value	230,394,000	211,316,000
Federal Home Loan Bank advances, Estimated Fair Value	8,975,000	11,006,000
Fair Value, Inputs, Level 3 [Member]
Financial assets
Loans, net, Carrying Value	295,286,572	268,249,402
Loans, net, Estimated Fair Value	$ 297,982,000	$ 269,852,000

Quarterly Results of Operatio81

Quarterly Results of Operations (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015
Interest income	$ 3,992,191	$ 3,856,566	$ 3,731,160	$ 3,771,580	$ 3,728,982	$ 3,685,503	$ 3,671,377	$ 3,619,539	$ 15,351,497	$ 14,705,401
Interest expense	368,885	340,099	322,540	314,596	313,295	303,055	289,256	284,040	1,346,120	1,189,646
Net interest income	3,623,306	3,516,467	3,408,620	3,456,984	3,415,687	3,382,448	3,382,121	3,335,499	14,005,377	13,515,755
Provision for loan losses	0	0	0	0	(15,000)	0	0	15,000	0	0
Net income	$ 1,016,101	$ 1,040,372	$ 916,188	$ 936,468	$ 1,081,074	$ 1,236,261	$ 1,022,579	$ 928,308	$ 3,909,129	$ 4,268,222
Earnings per share - basic and diluted	$ 0.61	$ 0.63	$ 0.56	$ 0.57	$ 0.66	$ 0.75	$ 0.63	$ 0.57	$ 2.37	$ 2.61