Community Bancorp (CMTV) 10-Q 13 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 06, 2015
Document And Entity Information
Entity Registrant Name	Community Bancorp /VT
Entity Central Index Key	718,413
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer	No
Is Entity a Voluntary Filer	No
Is Entity's Reporting Status Current	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		4,964,500
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,015

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Assets
Cash and due from banks	$ 11,233,651	$ 11,935,993	$ 16,321,342
Federal funds sold and overnight deposits	8,220,300	13,026,181	21,474
Total cash and cash equivalents	19,453,951	24,962,174	16,342,816
Securities held-to-maturity (fair value $26,055,000 at 06/30/15, $42,234,000 at 12/31/14 and $23,373,000 at 06/30/14)	25,738,769	41,810,945	22,966,558
Securities available-for-sale	31,204,034	32,946,894	31,198,958
Restricted equity securities, at cost	3,332,450	3,332,450	3,332,450
Loans held-for-sale	360,225	26,250	670,255
Loans	459,482,050	447,804,955	450,593,304
Allowance for loan losses	(5,095,212)	(4,905,874)	(4,876,816)
Deferred net loan costs	307,235	303,394	288,237
Net loans	454,694,073	443,202,475	446,004,725
Bank premises and equipment, net	11,702,753	11,488,948	11,516,750
Accrued interest receivable	1,577,886	1,698,448	1,444,775
Bank owned life insurance (BOLI)	4,466,781	4,413,574	4,358,117
Core deposit intangible	681,731	818,081	954,431
Goodwill	11,574,269	11,574,269	11,574,269
Other real estate owned (OREO)	1,122,500	1,238,320	916,820
Other assets	10,589,228	9,198,216	10,960,831
Total assets	576,498,650	586,711,044	562,241,755
Deposits:
Demand, non-interest bearing	84,396,417	88,758,469	81,327,974
Interest-bearing transaction accounts	111,758,309	125,388,872	104,820,943
Money market funds	71,676,688	88,820,124	67,525,017
Savings	81,578,169	77,029,722	75,556,376
Time deposits, $100,000 and over	43,309,486	45,284,645	54,293,241
Other time deposits	62,348,260	67,737,631	71,541,368
Total deposits	455,067,329	493,019,463	455,064,919
Federal funds purchased and other borrowed funds	30,000,000	0	19,915,000
Repurchase agreements	24,403,315	28,542,961	23,583,153
Capital lease obligations	599,772	639,544	677,251
Junior subordinated debentures	12,887,000	12,887,000	12,887,000
Accrued interest and other liabilities	3,500,041	2,626,874	2,723,488
Total liabilities	526,457,457	537,715,842	514,850,811
Shareholders' Equity
Preferred stock, 1,000,000 shares authorized, 25 shares issued and outstanding ($100,000 liquidation value)	2,500,000	2,500,000	2,500,000
Common stock - $2.50 par value; 15,000,000 shares authorized 5,176,128 shares issued at 06/30/15, 5,142,475 shares issued at 12/31/14 and 5,110,096 shares issued at 06/30/14	12,940,320	12,856,188	12,775,241
Additional paid-in capital	29,748,084	29,359,300	28,975,974
Retained earnings	7,475,708	6,909,934	5,752,161
Accumulated other comprehensive (loss) income	(142)	(7,443)	10,345
Less: treasury stock, at cost; 210,101 shares at 06/30/15, 12/31/14 and 06/30/14	(2,622,777)	(2,622,777)	(2,622,777)
Total shareholders' equity	50,041,193	48,995,202	47,390,944
Total liabilities and shareholders' equity	$ 576,498,650	$ 586,711,044	$ 562,241,755

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Assets
Securities held-to-maturity, fair value	$ 26,055,000	$ 42,234,000	$ 23,373,000
Shareholder's Equity
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	25	25	25
Preferred stock, shares outstanding (in shares)	25	25	25
Preferred stock liquidation value	$ 100,000	$ 100,000	$ 100,000
Common stock par value (in dollars per share)	$ 2.50	$ 2.50	$ 2.50
Common stock, shares authorized (in shares)	15,000,000	15,000,000	15,000,000
Common stock, shares issued (in shares)	5,176,128	5,142,475	5,110,096
Treasury stock (in shares)	210,101	210,101	210,101

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Interest income
Interest and fees on loans	$ 5,346,764	$ 5,373,903	$ 10,811,025	$ 10,644,679
Interest on debt securities
Taxable	102,608	73,040	207,647	139,384
Tax-exempt	276,254	241,342	547,380	497,970
Dividends	23,788	23,026	47,671	46,310
Interest on federal funds sold and overnight deposits	1,770	2,836	4,260	4,080
Total interest income	5,751,184	5,714,147	11,617,983	11,332,423
Interest expense
Interest on deposits	529,181	642,719	1,121,638	1,299,974
Interest on federal funds purchased and other borrowed funds	23,535	20,450	38,276	39,136
Interest on repurchase agreements	17,933	14,385	37,570	30,983
Interest on junior subordinated debentures	101,655	100,442	202,333	201,193
Total interest expense	672,304	777,996	1,399,817	1,571,286
Net interest income	5,078,880	4,936,151	10,218,166	9,761,137
Provision for loan losses	150,000	135,000	300,000	270,000
Net interest income after provision for loan losses	4,928,880	4,801,151	9,918,166	9,491,137
Non-interest income
Service fees	642,981	658,972	1,274,418	1,305,785
Income from sold loans	247,565	260,330	448,240	509,460
Other income from loans	186,433	122,066	320,632	266,466
Net realized gain on sale of securities available-for-sale	2,723	21,828	2,723	21,828
Other income	224,779	274,026	471,253	547,184
Total non-interest income	1,304,481	1,337,222	2,517,266	2,650,723
Non-interest expense
Salaries and wages	1,683,200	1,650,000	3,338,352	3,300,000
Employee benefits	672,527	573,501	1,336,680	1,204,698
Occupancy expenses, net	609,365	623,843	1,299,667	1,308,041
Other expenses	1,814,748	1,530,104	3,501,869	3,165,947
Total non-interest expense	4,779,840	4,377,448	9,476,568	8,978,686
Income before income taxes	1,453,521	1,760,925	2,958,864	3,163,174
Income tax expense	375,817	476,539	771,320	807,223
Net income	$ 1,077,704	$ 1,284,386	$ 2,187,544	$ 2,355,951
Earnings per common share	$ 0.21	$ 0.26	$ 0.43	$ 0.47
Weighted average number of common shares used in computing earnings per share	4,954,879	4,889,257	4,946,734	4,880,969
Dividends declared per common share	$ 0.16	$ 0.16	$ 0.32	$ 0.32
Book value per common share outstanding	$ 9.57	$ 9.16	$ 9.57	$ 9.16

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 1,077,704	$ 1,284,386	$ 2,187,544	$ 2,355,951
Other comprehensive (loss) income, net of tax:
Unrealized holding (loss) gain on available-for-sale securities arising during the period	(189,219)	47,464	13,785	109,420
Reclassification adjustment for gain realized in income	(2,723)	(21,828)	(2,723)	(21,828)
Net change in unrealized (loss) gain	(191,942)	25,636	11,062	87,592
Tax effect	65,260	(8,716)	(3,761)	(29,781)
Other comprehensive (loss) income, net of tax	(126,682)	16,920	7,301	57,811
Total comprehensive income	$ 951,022	$ 1,301,306	$ 2,194,845	$ 2,413,762

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash Flows from Operating Activities:
Net income	$ 2,187,544	$ 2,355,951
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization, bank premises and equipment	487,192	488,888
Provision for loan losses	300,000	270,000
Deferred income tax	(147,121)	(75,275)
Gain on sale of securities available-for-sale	(2,723)	(21,828)
Gain on sale of loans	(194,924)	(251,370)
(Gain) loss on sale of OREO	(51)	1,840
Gain on Trust LLC	(175,191)	(163,260)
Amortization of bond premium, net	95,186	283,156
Write down of OREO	45,320	0
Proceeds from sales of loans held for sale	11,515,834	10,147,291
Originations of loans held for sale	(11,654,885)	(10,356,676)
(Decrease) increase in taxes payable	(1,225)	542,007
Decrease in interest receivable	120,562	333,530
Decrease in mortgage servicing rights	13,547	4,366
Increase in other assets	(391,951)	(154,554)
Increase in cash surrender value of BOLI	(53,207)	(54,810)
Amortization of core deposit intangible	136,350	136,350
Amortization of limited partnerships	282,666	295,560
(Increase) decrease in unamortized loan costs	(3,841)	12,192
Decrease in interest payable	(16,375)	(4,937)
Decrease in accrued expenses	(69,111)	(59,879)
Decrease in other liabilities	(17,813)	(7,032)
Net cash provided by operating activities	2,455,783	3,721,510
Investments - held-to-maturity
Maturities and pay downs	21,967,164	23,035,127
Purchases	(5,894,988)	(8,064,774)
Investments - available-for-sale Maturities, calls, pay downs and sales	9,659,289	16,527,429
Purchases	(7,997,830)	(12,711,520)
Proceeds from redemption of restricted equity securities	0	300,400
Increase in limited partnership contributions payable	975,000	0
Increase in limited partnerships	(975,500)	0
Increase in loans, net	(11,925,533)	(11,019,180)
Capital expenditures of bank premises and equipment	(700,995)	(282,170)
Proceeds from sales of OREO	141,051	237,865
Recoveries of loans charged off	67,276	35,703
Net cash provided by investing activities	5,314,934	8,058,880
Cash Flows from Financing Activities:
Net decrease in demand and interest-bearing transaction accounts	(17,992,615)	(22,585,289)
Net decrease in money market and savings accounts	(12,594,989)	(8,785,431)
Net (decrease) increase in time deposits	(7,364,530)	4,883,070
Net decrease in repurchase agreements	(4,139,646)	(6,061,462)
Net increase in short-term borrowings	30,000,000	13,915,000
Proceeds from long-term borrowings	0	6,000,000
Decrease in capital lease obligations	(39,772)	(33,791)
Dividends paid on preferred stock	(40,625)	(40,625)
Dividends paid on common stock	(1,106,763)	(1,059,035)
Net cash used in financing activities	(13,278,940)	(13,767,563)
Net decrease in cash and cash equivalents	(5,508,223)	(1,987,173)
Cash and cash equivalents:
Beginning	24,962,174	18,329,989
Ending	19,453,951	16,342,816
Supplemental Schedule of Cash Paid During the Period:
Interest	1,416,192	1,576,223
Income taxes	637,000	44,931
Supplemental Schedule of Noncash Investing and Financing Activities:
Change in unrealized gain on securities available-for-sale	11,062	87,592
Loans transferred to OREO	70,500	51,000
Common Shares Dividends Paid:
Dividends declared	1,581,145	1,560,309
Increase in dividends payable attributable to dividends declared	(1,466)	(59,135)
Dividends reinvested	(472,916)	(442,139)
Total	$ 1,106,763	$ 1,059,035

1. Basis of Presentation and Co

1. Basis of Presentation and Consolidation	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Note 1. Basis of Presentation and Consolidation	The interim consolidated financial statements of Community Bancorp. and Subsidiary are unaudited. All significant intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments necessary for the fair presentation of the financial condition and results of operations of the Company contained herein have been made. The unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2014 contained in the Company's Annual Report on Form 10-K. The results of operations for the interim period are not necessarily indicative of the results of operations to be expected for the full annual period ending December 31, 2015, or for any other interim period. Certain amounts in the 2014 unaudited consolidated income statements have been reclassified to conform to the 2015 presentation. Reclassifications had no effect on prior period net income or shareholders’ equity.

2. Recent Accounting Developmen

2. Recent Accounting Developments	6 Months Ended
	Jun. 30, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Note 2. Recent Accounting Developments	There are no recently issued accounting developments applicable to the Company as of this current report.

3. Earnings per Common Share

3. Earnings per Common Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Note 3. Earnings per Common Share	Earnings per common share amounts are computed based on the weighted average number of shares of common stock issued during the period (retroactively adjusted for stock splits and stock dividends), including Dividend Reinvestment Plan shares issuable upon reinvestment of dividends declared, and reduced for shares held in treasury. The following tables illustrate the calculation of earnings per common share for the periods presented, as adjusted for the cash dividends declared on the preferred stock: Three Months Ended June 30, 2015 2014 Net income, as reported $ 1,077,704 $ 1,284,386 Less: dividends to preferred shareholders 20,312 20,312 Net income available to common shareholders $ 1,057,392 $ 1,264,074 Weighted average number of common shares used in calculating earnings per share 4,954,879 4,889,257 Earnings per common share $ 0.21 $ 0.26 Six Months Ended June 30, 2015 2014 Net income, as reported $ 2,187,544 $ 2,355,951 Less: dividends to preferred shareholders 40,625 40,625 Net income available to common shareholders $ 2,146,919 $ 2,315,326 Weighted average number of common shares used in calculating earnings per share 4,946,734 4,880,969 Earnings per common share $ 0.43 $ 0.47

4. Investment Securities

4. Investment Securities	6 Months Ended
	Jun. 30, 2015
Investment Securities
Note 4. Investment Securities	Securities available-for-sale (AFS) and held-to-maturity (HTM) as of the balance sheet dates consisted of the following: Gross Gross Amortized Unrealized Unrealized Fair Securities AFS Cost Gains Losses Value June 30, 2015 U.S. Government sponsored enterprise (GSE) debt securities $ 14,862,842 $ 59,687 $ 14,425 $ 14,908,104 U.S. Government securities 2,991,281 11,688 0 3,002,969 Agency mortgage-backed securities (Agency MBS) 11,614,125 356 54,708 11,559,773 Other investments 1,736,000 904 3,716 1,733,188 $ 31,204,248 $ 72,635 $ 72,849 $ 31,204,034 December 31, 2014 U.S. GSE debt securities $ 19,929,061 $ 50,378 $ 72,289 $ 19,907,150 U.S. Government securities 3,997,451 3,486 0 4,000,937 Agency MBS 9,031,661 19,472 12,326 9,038,807 $ 32,958,173 $ 73,336 $ 84,615 $ 32,946,894 June 30, 2014 U.S. GSE debt securities $ 15,950,885 $ 80,833 $ 73,657 $ 15,958,061 U.S. Government securities 5,518,770 14,716 480 5,533,006 Agency MBS 9,713,629 3,847 9,585 9,707,891 $ 31,183,284 $ 99,396 $ 83,722 $ 31,198,958 Gross Gross Amortized Unrealized Unrealized Fair Securities HTM Cost Gains Losses Value* June 30, 2015 States and political subdivisions $ 25,738,769 $ 316,231 $ 0 $ 26,055,000 December 31, 2014 States and political subdivisions $ 41,810,945 $ 423,055 $ 0 $ 42,234,000 June 30, 2014 States and political subdivisions $ 22,966,558 $ 406,442 $ 0 $ 23,373,000 *Method used to determine fair value of HTM securities rounds values to nearest thousand. The scheduled maturities of debt securities AFS were as follows: Amortized Fair Cost Value June 30, 2015 Due in one year or less $ 5,115,547 $ 5,133,829 Due from one to five years 14,474,576 14,510,432 Agency MBS 11,614,125 11,559,773 $ 31,204,248 $ 31,204,034 December 31, 2014 Due in one year or less $ 5,027,864 $ 5,034,248 Due from one to five years 18,898,648 18,873,839 Agency MBS 9,031,661 9,038,807 $ 32,958,173 $ 32,946,894 June 30, 2014 Due in one year or less $ 2,025,196 $ 2,030,578 Due from one to five years 19,444,459 19,460,489 Agency MBS 9,713,629 9,707,891 $ 31,183,284 $ 31,198,958 Because the actual maturities of Agency MBS usually differ from their contractual maturities due to the right of borrowers to prepay the underlying mortgage loans, usually without penalty, those securities are not presented in the table by contractual maturity date. The scheduled maturities of debt securities HTM were as follows: Amortized Fair Cost Value* June 30, 2015 Due in one year or less $ 12,851,025 $ 12,851,000 Due from one to five years 4,101,928 4,181,000 Due from five to ten years 2,166,612 2,246,000 Due after ten years 6,619,204 6,777,000 $ 25,738,769 $ 26,055,000 December 31, 2014 Due in one year or less $ 28,158,718 $ 28,159,000 Due from one to five years 4,637,913 4,744,000 Due from five to ten years 2,305,353 2,411,000 Due after ten years 6,708,961 6,920,000 $ 41,810,945 $ 42,234,000 June 30, 2014 Due in one year or less $ 12,616,400 $ 12,616,000 Due from one to five years 4,239,436 4,341,000 Due from five to ten years 2,381,853 2,484,000 Due after ten years 3,728,869 3,932,000 $ 22,966,558 $ 23,373,000 *Method used to determine fair value of HTM securities rounds values to nearest thousand. There were no debt securities HTM in an unrealized loss position as of the balance sheet dates. Debt securities AFS with unrealized losses as of the balance sheet dates are presented in the table below. Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss June 30, 2015 U.S. GSE debt securities $ 4,235,402 $ 9,709 $ 995,284 $ 4,716 $ 5,230,686 $ 14,425 Agency MBS 10,702,696 54,708 0 0 10,702,696 54,708 Other investments 1,236,283 3,716 0 0 1,236,283 3,716 $ 16,174,381 $ 68,133 $ 995,284 $ 4,716 $ 17,169,665 $ 72,849 December 31, 2014 U.S. GSE debt securities $ 6,023,946 $ 8,548 $ 5,186,258 $ 63,741 $ 11,210,204 $ 72,289 Agency MBS 3,206,389 12,326 0 0 3,206,389 12,326 $ 9,230,335 $ 20,874 $ 5,186,258 $ 63,741 $ 14,416,593 $ 84,615 June 30, 2014 U.S. GSE debt securities $ 0 $ 0 $ 5,176,343 $ 73,657 $ 5,176,343 $ 73,657 U.S. Government securities 1,490,193 480 0 0 1,490,193 480 Agency MBS 4,937,780 9,585 0 0 4,937,780 9,585 $ 6,427,973 $ 10,065 $ 5,176,343 $ 73,657 $ 11,604,316 $ 83,722 Debt securities in the table above consisted of five U.S. GSE debt securities, eleven Agency MBS securities and five certificates of deposit carried under the heading of “Other investments” at June 30, 2015, ten U.S. GSE debt securities and four Agency MBS securities at December 31, 2014, and five U.S. GSE debt securities, two U.S. Government securities and five Agency MBS securities at June 30, 2014. The unrealized losses for all periods presented were principally attributable to changes in prevailing interest rates for similar types of securities and not deterioration in the creditworthiness of the issuer. Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market conditions, or adverse developments relating to the issuer, warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than the carrying value, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment for a period of time sufficient to allow for any anticipated recovery in fair value. In analyzing an issuer's financial condition, management considers whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies or other adverse developments in the status of the securities have occurred, and the results of reviews of the issuer's financial condition. As of June 30, 2015, there were no declines in the fair value of any of the securities reflected in the table above that were deemed by management to be other than temporary.

5. Loans, Allowance for Loan Lo

5. Loans, Allowance for Loan Losses and Credit Quality	6 Months Ended
	Jun. 30, 2015
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Note 5. Loans, Allowance for Loan Losses and Credit Quality	The composition of net loans as of the balance sheet dates was as follows: June 30, December 31, June 30, 2015 2014 2014 Commercial & industrial $ 73,561,125 $ 64,390,220 $ 64,475,384 Commercial real estate 172,565,221 166,611,830 164,302,843 Residential real estate - 1st lien 162,109,916 163,966,124 169,367,709 Residential real estate - Jr lien 43,816,552 44,801,483 44,564,026 Consumer 7,429,236 8,035,298 7,883,342 459,482,050 447,804,955 450,593,304 Deduct (add): Allowance for loan losses 5,095,212 4,905,874 4,876,816 Deferred net loan costs (307,235 ) (303,394 ) (288,237 ) 4,787,977 4,602,480 4,588,579 Net Loans $ 454,694,073 $ 443,202,475 $ 446,004,725 The following is an age analysis of past due loans (including non-accrual), by portfolio segment: 90 Days or 90 Days Total Non-Accrual More June 30, 2015 30-89 Days or More Past Due Current Total Loans Loans and Accruing Commercial & industrial $ 177,758 $ 174,184 $ 351,942 $ 73,209,183 $ 73,561,125 $ 767,235 $ 0 Commercial real estate 740,547 239,619 980,166 171,585,055 172,565,221 1,909,917 5,313 Residential real estate - 1st lien 2,222,425 828,694 3,051,119 159,058,797 162,109,916 1,927,300 528,211 Residential real estate - Jr lien 346,444 82,021 428,465 43,388,087 43,816,552 311,571 82,021 Consumer 38,159 8,987 47,146 7,382,090 7,429,236 0 8,987 Total $ 3,525,333 $ 1,333,505 $ 4,858,838 $ 454,623,212 $ 459,482,050 $ 4,916,023 $ 624,532 90 Days or 90 Days Total Non-Accrual More December 31, 2014 30-89 Days or More Past Due Current Total Loans Loans and Accruing Commercial & industrial $ 439,151 $ 299,095 $ 738,246 $ 63,651,974 $ 64,390,220 $ 552,386 $ 23,579 Commercial real estate 988,924 5,313 994,237 165,617,593 166,611,830 1,934,096 5,313 Residential real estate - 1st lien 4,446,138 1,484,334 5,930,472 158,035,652 163,966,124 1,263,046 980,138 Residential real estate - Jr lien 637,917 179,920 817,837 43,983,646 44,801,483 404,061 115,852 Consumer 56,392 0 56,392 7,978,906 8,035,298 0 0 Total $ 6,568,522 $ 1,968,662 $ 8,537,184 $ 439,267,771 $ 447,804,955 $ 4,153,589 $ 1,124,882 90 Days or 90 Days Total Non-Accrual More June 30, 2014 30-89 Days or More Past Due Current Total Loans Loans and Accruing Commercial & industrial $ 373,363 $ 605,406 $ 978,769 $ 63,496,615 $ 64,475,384 $ 1,347,748 $ 102,961 Commercial real estate 1,378,654 94,609 1,473,263 162,829,580 164,302,843 1,661,324 5,313 Residential real estate - 1st lien 2,542,507 991,146 3,533,653 165,834,056 169,367,709 1,943,475 231,085 Residential real estate - Jr lien 228,014 110,451 338,465 44,225,561 44,564,026 453,304 57,241 Consumer 54,479 17,927 72,406 7,810,936 7,883,342 0 17,927 Total $ 4,577,017 $ 1,819,539 $ 6,396,556 $ 444,196,748 $ 450,593,304 $ 5,405,851 $ 414,527 For all loan segments, loans over 30 days past due are considered delinquent. As of June 30, 2015, there were four residential mortgage loans in process of foreclosure totaling $403,526. Allowance for loan losses The allowance for loan losses is established through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is probable. Subsequent recoveries, if any, are credited to the allowance. Unsecured loans, primarily consumer loans, are charged off when they become uncollectible and no later than 120 days past due. Unsecured loans to customers who subsequently file bankruptcy are charged off within 30 days of receipt of the notification of filing or by the end of the month in which the loans become 120 days past due, whichever occurs first. For secured loans, both residential and commercial, the potential loss on impaired loans is carried as a loan loss reserve specific allocation; the loss portion is charged off when collection of the full loan appears unlikely. The unsecured portion of a real estate loan is that portion of the loan exceeding the "fair value" of the collateral less the estimated cost to sell. Value of the collateral is determined in accordance with the Company’s appraisal policy. The unsecured portion of an impaired real estate secured loan is charged off by the end of the month in which the loan becomes 180 days past due. As described below, the allowance consists of general, specific and unallocated components. However, the entire allowance is available to absorb losses in the loan portfolio, regardless of specific, general and unallocated components considered in determining the amount of the allowance. General component The general component of the allowance for loan losses is based on historical loss experience, adjusted for qualitative factors and stratified by the following loan segments: commercial and industrial, commercial real estate, residential real estate first (“1st”) lien, residential real estate junior (“Jr”) lien and consumer loans. The Company does not disaggregate its portfolio segments further into classes. Loss ratios are calculated by loan segment for one year, two year, three year, four year and five year look back periods. The highest loss ratio among these look-back periods is then applied against the respective segment. Management uses an average of historical losses based on a time frame appropriate to capture relevant loss data for each loan segment. This historical loss factor is adjusted for the following qualitative factors: levels of and trends in delinquencies and non-performing loans, levels of and trends in loan risk groups, trends in volumes and terms of loans, effects of any changes in loan related policies, experience, ability and the depth of management, documentation and credit data exception levels, national and local economic trends, external factors such as competition and regulation and lastly, concentrations of credit risk in a variety of areas, including portfolio product mix, the level of loans to individual borrowers and their related interests, loans to industry segments, and the geographic distribution of commercial real estate loans. This evaluation is inherently subjective as it requires estimates that are susceptible to revision as more information becomes available. The reserve methodology was modified during the quarter ended June 30, 2015 to eliminate using the higher of the 1999-2001 losses as compared to current losses, by eliminating the use of the 1999-2001 period. The 1999-2001 information has become dated and the Bank’s credit portfolio management has evolved during that time. The revised methodology now considers the highest annual loss rates for the most recent one to five year look back periods for each segment of the portfolio. This change resulted in a reduction to required reserves of $529,234. Adjustments were made to the commercial & industrial and commercial real estate qualitative factors to adjust for the impact of the change in methodology, principally in the area of loan growth, loan policy, and delinquency factors. The commercial & industrial and commercial real estate factors were each increased a total of 10 basis points, amounting to increases of $171,000 and $70,000, respectively. The qualitative factors are determined based on the various risk characteristics of each loan segment. The Company has policies, procedures and internal controls that management believes are commensurate with the risk profile of each of these segments. Major risk characteristics relevant to each portfolio segment are as follows: Commercial & Industrial – Commercial Real Estate – Residential Real Estate - 1st Lien – Residential Real Estate – Jr Lien – Consumer – Specific component The specific component of the allowance for loan losses relates to loans that are impaired. Impaired loans are loan(s) to a borrower that in the aggregate are greater than $100,000 and that are in non-accrual status or are troubled debt restructurings (“TDR”) regardless of amount. A specific allowance is established for an impaired loan when its estimated impaired basis is less than the carrying value of the loan. For all loan segments, except consumer loans, a loan is considered impaired when, based on current information and events, in management’s estimation it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant or temporary payment delays and payment shortfalls generally are not classified as impaired. Management evaluates the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length and frequency of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis, by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. Impaired loans also include troubled loans that are restructured. A TDR occurs when the Company, for economic or legal reasons related to the borrower’s financial difficulties, grants a concession to the borrower that would otherwise not be granted. TDRs may include the transfer of assets to the Company in partial satisfaction of a troubled loan, a modification of a loan’s terms, or a combination of the two. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer loans for impairment evaluation, unless such loans are subject to a restructuring agreement. Unallocated component An unallocated component of the allowance for loan losses is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component reflects management’s estimate of the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the portfolio. While unallocated reserves have increased, they are considered by management to be appropriate in light of the Company’s continued growth strategy and shift in the portfolio from residential loans to commercial and commercial real estate loans and the risk associated with the relatively new, unseasoned loans in those portfolios. The following tables summarize changes in the allowance for loan losses and select loan information, by portfolio segment, for the periods indicated: As of or for the three months ended June 30, 2015 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Unallocated Total Allowance for loan losses Beginning balance $ 750,491 $ 2,325,111 $ 1,322,017 $ 321,407 $ 86,084 $ 197,939 $ 5,003,049 Charge-offs 0 0 (78,700 ) 0 (22,816 ) 0 (101,516 ) Recoveries 37,306 0 0 60 6,313 0 43,679 Provision (credit) 93,297 (340,552 ) 115,187 30,658 (5,768 ) 257,178 150,000 Ending balance $ 881,094 $ 1,984,559 $ 1,358,504 $ 352,125 $ 63,813 $ 455,117 $ 5,095,212 As of or for the six months ended June 30, 2015 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Unallocated Total Allowance for loan losses Beginning balance $ 646,719 $ 2,311,936 $ 1,270,766 $ 321,099 $ 118,819 $ 236,535 $ 4,905,874 Charge-offs (35,059 ) 0 (94,575 ) (20,199 ) (28,105 ) 0 (177,938 ) Recoveries 42,913 0 6,042 120 18,201 0 67,276 Provision (credit) 226,521 (327,377 ) 176,271 51,105 (45,102 ) 218,582 300,000 Ending balance $ 881,094 $ 1,984,559 $ 1,358,504 $ 352,125 $ 63,813 $ 455,117 $ 5,095,212 Allowance for loan losses Evaluated for impairment Individually $ 70,000 $ 0 $ 71,800 $ 47,500 $ 0 $ 0 $ 189,300 Collectively 811,094 1,984,559 1,286,704 304,625 63,813 455,117 4,905,912 Total $ 881,094 $ 1,984,559 $ 1,358,504 $ 352,125 $ 63,813 $ 455,117 $ 5,095,212 Loans evaluated for impairment Individually $ 594,176 $ 1,845,751 $ 1,345,820 $ 238,623 $ 0 $ 4,024,370 Collectively 72,966,949 170,719,470 160,764,096 43,577,929 7,429,236 455,457,680 Total $ 73,561,125 $ 172,565,221 $ 162,109,916 $ 43,816,552 $ 7,429,236 $ 459,482,050 As of or for the year ended December 31, 2014 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Unallocated Total Allowance for loan losses Beginning balance $ 516,382 $ 2,143,398 $ 1,452,184 $ 366,471 $ 105,279 $ 271,201 $ 4,854,915 Charge-offs (153,329 ) (167,841 ) (58,904 ) (51,389 ) (112,376 ) 0 (543,839 ) Recoveries 6,249 0 14,543 240 33,766 0 54,798 Provision (credit) 277,417 336,379 (137,057 ) 5,777 92,150 (34,666 ) 540,000 Ending balance $ 646,719 $ 2,311,936 $ 1,270,766 $ 321,099 $ 118,819 $ 236,535 $ 4,905,874 Allowance for loan losses Evaluated for impairment Individually $ 0 $ 34,400 $ 43,400 $ 0 $ 0 $ 0 $ 77,800 Collectively 646,719 2,277,536 1,227,366 321,099 118,819 236,535 4,828,074 Total $ 646,719 $ 2,311,936 $ 1,270,766 $ 321,099 $ 118,819 $ 236,535 $ 4,905,874 Loans evaluated for impairment Individually $ 390,605 $ 1,930,993 $ 721,241 $ 328,889 $ 0 $ 3,371,728 Collectively 63,999,615 164,680,837 163,244,883 44,472,594 8,035,298 444,433,227 Total $ 64,390,220 $ 166,611,830 $ 163,966,124 $ 44,801,483 $ 8,035,298 $ 447,804,955 As of or for the three months ended June 30, 2014 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Unallocated Total Allowance for loan losses Beginning balance $ 556,223 $ 2,172,678 $ 1,396,934 $ 348,738 $ 100,386 $ 262,619 $ 4,837,578 Charge-offs (70,534 ) (30,819 ) 0 0 (14,241 ) 0 (115,594 ) Recoveries 2,124 0 1,725 60 15,923 0 19,832 Provision (credit) 199,603 13,879 (61,648 ) (54,184 ) (17,953 ) 55,303 135,000 Ending balance $ 687,416 $ 2,155,738 $ 1,337,011 $ 294,614 $ 84,115 $ 317,922 $ 4,876,816 As of or for the six months ended June 30, 2014 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Unallocated Total Allowance for loan losses Beginning balance $ 516,382 $ 2,143,398 $ 1,452,184 $ 366,471 $ 105,279 $ 271,201 $ 4,854,915 Charge-offs (87,214 ) (130,819 ) 0 0 (65,769 ) 0 (283,802 ) Recoveries 2,236 0 11,098 120 22,249 0 35,703 Provision (credit) 256,012 143,159 (126,271 ) (71,977 ) 22,356 46,721 270,000 Ending balance $ 687,416 $ 2,155,738 $ 1,337,011 $ 294,614 $ 84,115 $ 317,922 $ 4,876,816 Allowance for loan losses Evaluated for impairment Individually $ 99,300 $ 18,900 $ 100,600 $ 13,100 $ 0 $ 0 $ 231,900 Collectively 588,116 2,136,838 1,236,411 281,514 84,115 317,922 4,644,916 Total $ 687,416 $ 2,155,738 $ 1,337,011 $ 294,614 $ 84,115 $ 317,922 $ 4,876,816 Loans evaluated for impairment Individually $ 1,233,885 $ 1,558,186 $ 1,374,851 $ 370,775 $ 0 $ 4,537,697 Collectively 63,241,499 162,744,657 167,992,858 44,193,251 7,883,342 446,055,607 Total $ 64,475,384 $ 164,302,843 $ 169,367,709 $ 44,564,026 $ 7,883,342 $ 450,593,304 Impaired loans, by portfolio segment, were as follows: As of June 30, 2015 Unpaid Average Average Recorded Principal Related Recorded Recorded Investment Balance Allowance Investment(1) Investment(2) With no related allowance recorded Commercial & industrial $ 502,237 $ 560,173 $ 0 $ 555,057 $ 300,144 Commercial real estate 1,845,751 1,856,008 0 1,976,769 1,136,004 Residential real estate - 1st lien 1,095,830 1,470,050 0 780,255 433,329 Residential real estate - Jr lien 0 0 0 120,465 113,964 $ 3,443,818 $ 3,886,231 $ 0 $ 3,432,546 $ 1,983,441 With an allowance recorded Commercial & industrial $ 91,940 $ 94,826 $ 70,000 $ 93,398 $ 37,359 Commercial real estate 0 0 0 0 40,902 Residential real estate - 1st lien 249,989 284,200 71,800 302,937 144,196 Residential real estate - Jr lien 238,623 284,202 47,500 152,865 61,146 $ 580,552 $ 663,228 $ 189,300 $ 549,200 $ 283,603 Total $ 4,024,370 $ 4,549,459 $ 189,300 $ 3,981,746 $ 2,267,044 (1) For the three months ended June 30, 2015 (2) For the six months ended June 30, 2015 As of December 31, 2014 2014 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With no related allowance recorded Commercial & industrial $ 390,605 $ 424,598 $ 0 $ 507,232 Commercial real estate 1,726,482 1,689,772 0 1,294,710 Residential real estate - 1st lien 606,133 875,841 0 971,542 Residential real estate - Jr lien 328,889 390,260 0 238,826 $ 3,052,109 $ 3,380,471 $ 0 $ 3,012,310 With an allowance recorded Commercial & industrial $ 0 $ 0 $ 0 $ 158,690 Commercial real estate 204,511 220,981 34,400 280,104 Residential real estate - 1st lien 115,108 144,708 43,400 294,807 Residential real estate - Jr lien 0 0 0 149,772 $ 319,619 $ 365,689 $ 77,800 $ 883,373 Total $ 3,371,728 $ 3,746,160 $ 77,800 $ 3,895,683 As of June 30, 2014 Unpaid Average Average Recorded Principal Related Recorded Recorded Investment Balance Allowance Investment(1) Investment(2) With no related allowance recorded Commercial & industrial $ 819,016 $ 884,377 $ 0 $ 552,178 $ 472,955 Commercial real estate 1,337,570 1,431,199 0 1,248,510 1,147,288 Residential real estate - 1st lien 832,008 905,092 0 1,042,268 1,146,323 Residential real estate - Jr lien 269,912 316,506 0 183,089 176,772 $ 3,258,506 $ 3,537,174 $ 0 $ 3,026,045 $ 2,943,338 With an allowance recorded Commercial & industrial 414,869 415,759 99,300 238,953 179,031 Commercial real estate 220,616 231,221 18,900 165,405 257,481 Residential real estate - 1st lien 542,843 579,363 100,600 394,924 408,070 Residential real estate - Jr lien 100,863 109,217 13,100 176,875 249,621 $ 1,279,191 $ 1,335,560 $ 231,900 $ 976,157 $ 1,094,203 Total $ 4,537,697 $ 4,872,734 $ 231,900 $ 4,002,202 $ 4,037,541 (1) For the three months ended June 30, 2014 (2) For the six months ended June 30, 2014 Interest income recognized on impaired loans was immaterial for all periods presented. For all loan segments, the accrual of interest is discontinued when a loan is specifically determined to be impaired or when the loan is delinquent 90 days and management believes, after considering collection efforts and other factors, that the borrower's financial condition is such that collection of interest is considered by management to be doubtful. Any unpaid interest previously accrued on those loans is reversed from income. Interest income is generally not recognized on specific impaired loans unless the likelihood of further loss is considered by management to be remote. Interest payments received on impaired loans are generally applied as a reduction of the loan principal balance. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are considered by management to be reasonably assured. As of the balance sheet dates, the Company was not contractually committed to lend additional funds to debtors with impaired, non-accrual or restructured loans. Credit Quality Grouping In developing the allowance for loan losses, management uses credit quality grouping to help evaluate trends in credit quality. The Company groups credit risk into Groups A, B and C. The manner the Company utilizes to assign risk grouping is driven by loan purpose. Commercial purpose loans are individually risk graded while the retail portion of the portfolio is generally grouped by delinquency pool. Group A loans - Acceptable Risk Group B loans – Management Involved Group C loans – Unacceptable Risk Commercial purpose loan ratings are assigned by the commercial account officer; for larger and more complex commercial loans, the credit rating is a collaborative assignment by the lender and the credit analyst. The credit risk rating is based on the borrower's expected performance, i.e., the likelihood that the borrower will be able to service its obligations in accordance with the loan terms. Credit risk ratings are meant to measure risk versus simply record history. Assessment of expected future payment performance requires consideration of numerous factors. While past performance is part of the overall evaluation, expected performance is based on an analysis of the borrower's financial strength, and historical and projected factors such as size and financing alternatives, capacity and cash flow, balance sheet and income statement trends, the quality and timeliness of financial reporting, and the quality of the borrower’s management. Other factors influencing the credit risk rating to a lesser degree include collateral coverage and control, guarantor strength and commitment, documentation, structure and covenants and industry conditions. There are uncertainties inherent in this process. Credit risk ratings are dynamic and require updating whenever relevant information is received. The risk ratings of larger or more complex loans, and Group B and C rated loans, are assessed at the time of their respective annual reviews, during quarterly updates, in action plans or at any other time that relevant information warrants update. Lenders are required to make immediate disclosure to the Chief Credit Officer of any known increase in loan risk, even if considered temporary in nature. The risk ratings within the loan portfolio, by segment, as of the balance sheet dates were as follows: As of June 30, 2015 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Total Group A $ 70,152,385 $ 162,191,020 $ 158,224,270 $ 43,196,452 $ 7,420,249 $ 441,184,376 Group B 2,451,677 4,819,930 231,391 228,892 0 7,731,890 Group C 957,063 5,554,271 3,654,255 391,208 8,987 10,565,784 Total $ 73,561,125 $ 172,565,221 $ 162,109,916 $ 43,816,552 $ 7,429,236 $ 459,482,050 As of December 31, 2014 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Total Group A $ 61,201,586 $ 157,767,641 $ 160,912,689 $ 44,018,956 $ 8,035,298 $ 431,936,170 Group B 2,316,908 3,280,904 228,148 251,822 0 6,077,782 Group C 871,726 5,563,285 2,825,287 530,705 0 9,791,003 Total $ 64,390,220 $ 166,611,830 $ 163,966,124 $ 44,801,483 $ 8,035,298 $ 447,804,955 As of June 30, 2014 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Total Group A $ 60,373,539 $ 155,124,213 $ 166,345,054 $ 43,883,107 $ 7,865,415 $ 433,591,328 Group B 2,730,275 3,586,566 598,381 147,531 0 7,062,753 Group C 1,371,570 5,592,064 2,424,274 533,388 17,927 9,939,223 Total $ 64,475,384 $ 164,302,843 $ 169,367,709 $ 44,564,026 $ 7,883,342 $ 450,593,304 Modifications of Loans and TDRs A loan is classified as a TDR if, for economic or legal reasons related to a borrower’s financial difficulties, the Company grants a concession to the borrower that it would not otherwise consider. The Company is deemed to have granted such a concession if it has modified a troubled loan in any of the following ways: ● Reduced accrued interest; ● Reduced the original contractual interest rate to a rate that is below the current market rate for the borrower; ● Converted a variable-rate loan to a fixed-rate loan; ● Extended the term of the loan beyond an insignificant delay; ● Deferred or forgiven principal in an amount greater than three months of payments; or ● Performed a refinancing and deferred or forgiven principal on the original loan. An insignificant delay or insignificant shortfall in the amount of payments typically would not require the loan to be accounted for as a TDR. However, pursuant to regulatory guidance, any payment delay longer than three months is generally not considered insignificant. Management’s assessment of whether a concession has been granted also takes into account payments expected to be received from third parties, including third-party guarantors, provided that the third party has the ability to perform on the guarantee. The Company’s TDRs are principally a result of extending loan repayment terms to relieve cash flow difficulties. The Company has only, on a limited basis, reduced interest rates for borrowers below the current market rate for the borrower. The Company has not forgiven principal or reduced accrued interest within the terms of original restructurings, nor has it converted variable rate terms to fixed rate terms. However, the Company evaluates each TDR situation on its own merits and does not foreclose the granting of any particular type of concession. TDRs, by portfolio segment, for the periods presented were as follows: Three months ended June 30, 2015 Six months ended June 30, 2015 Pre- Post- Pre- Post- Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded Contracts Investment Investment Contracts Investment Investment Commercial & industrial 3 $ 198,999 $ 198,829 3 $ 198,999 $ 198,829 Residential real estate - 1st lien 3 618,317 660,196 8 962,646 1,021,102 - Jr lien 0 0 0 2 117,745 121,672 Total 6 $ 817,316 $ 859,025 13 $ 1,279,390 $ 1,341,603 Year ended December 31, 2014 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment Commercial real estate 1 $ 301,823 $ 301,823 Residential real estate - 1st lien 11 1,294,709 1,332,336 Total 12 $ 1,596,532 $ 1,634,159 Three months ended June 30, 2014 Six months ended June 30, 2014 Pre- Post- Pre- Post- Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded Contracts Investment Investment Contracts Investment Investment Residential real estate - 1st lien 3 $218,330 $237,090 6 $480,899 $510,737 The TDR’s for which there was a payment default during the twelve month periods presented were as follows: Twelve months ended June 30, 2015 Number of Recorded Contracts Investment Commercial 1 $ 82,336 Residential real estate - 1st lien 3 258,568 Total 4 $ 340,904 Year ended December 31, 2014 Number of Recorded Contracts Investment Residential real estate - 1st lien 2 $ 137,830 Twelve months ended June 30, 2014 Number of Recorded Contracts Investment Residential real estate – 1st lien 5 $ 441,679 TDRs are treated as other impaired loans and carry individual specific reserves with respect to the calculation of the allowance for loan losses. These loans are categorized as non-performing, may be past due, and are generally adversely risk rated. The TDRs that have defaulted under their restructured terms are generally in collection status and their reserve is typically calculated using the fair value of collateral method. At June 30, 2015 and 2014, the specific allocation related to TDRs was approximately $104,600 and $88,300, respectively. There was no specific allowance related to TDRs at December 31, 2014. As of June 30, 2015, the Company is contractually committed to lend up to $450,000 in additional funds to one debtor with an impaired SBA guaranteed cap line of credit; that debtor’s loan relationship is expected to strengthen as a result of a prior troubled debt restructuring. With this exception, as of the balance sheet dates, the Company was not contractually committed to lend additional funds to debtors with impaired, non-accrual or modified loans.

6. Goodwill and Other Intangibl

6. Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Note 6. Goodwill and Other Intangible Assets	As a result of the merger with LyndonBank on December 31, 2007, the Company recorded goodwill amounting to $11,574,269. The goodwill is not amortizable and is not deductible for tax purposes. The Company also recorded $4,161,000 of acquired identified intangible assets representing the core deposit intangible which is subject to amortization as a non-interest expense over a ten year period. The accumulated amortization expense was $3,479,269 and $3,206,569 as of June 30, 2015 and 2014, respectively. Amortization expense for the core deposit intangible for the first six months of 2015 and 2014 was $136,350. As of June 30, 2015, the remaining annual amortization expense related to the core deposit intangible, absent any future impairment, is expected to be as follows: 2015 $ 136,345 2016 272,695 2017 272,691 Total remaining core deposit intangible $ 681,731 Management evaluates goodwill for impairment annually and the core deposit intangible for impairment if conditions warrant. As of the date of the most recent evaluation (December 31, 2014), management concluded that no impairment existed in either category.

7. Fair Value

7. Fair Value	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Note 7. Fair Value	Certain assets and liabilities are recorded at fair value to provide additional insight into the Company’s quality of earnings. The fair values of some of these assets and liabilities are measured on a recurring basis while others are measured on a non-recurring basis, with the determination based upon applicable existing accounting pronouncements. For example, securities available-for-sale are recorded at fair value on a recurring basis. Other assets, such as mortgage servicing rights, loans held-for-sale, impaired loans, and OREO are recorded at fair value on a non-recurring basis using the lower of cost or market methodology to determine impairment of individual assets. The Company groups assets and liabilities which are recorded at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. The level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement (with Level 1 considered highest and Level 3 considered lowest). A brief description of each level follows. Level 1 Quoted prices in active markets for identical assets or liabilities. Level 1 assets and liabilities include debt and equity securities and derivative contracts that are traded in an active exchange market, as well as U.S. Treasury, other U.S. Government debt securities that are highly liquid and are actively traded in over-the-counter markets. Level 2 Observable inputs other than Level 1 prices such as quoted prices for similar assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include debt securities with quoted prices that are traded less frequently than exchange-traded instruments and derivative contracts whose value is determined using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data. This category generally includes mortgage servicing rights, impaired loans and OREO. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. The following methods and assumptions were used by the Company in estimating its fair value measurements and disclosures: Cash and cash equivalents: Securities available-for-sale and held-to-maturity: Restricted equity securities: Loans and loans held-for-sale: The fair value of loans held-for-sale is based upon an actual purchase and sale agreement between the Company and an independent market participant. The sale is executed within a reasonable period following quarter end at the stated fair value. Mortgage servicing rights: OREO: Deposits, federal funds purchased and borrowed funds: Capital lease obligations: Junior subordinated debentures: Accrued interest: Off-balance-sheet credit related instruments: FASB Accounting Standards Codification (ASC) Topic 825 “Financial Instruments”, requires disclosures of fair value information about financial instruments, whether or not recognized in the balance sheet, if the fair values can be reasonably determined. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques using observable inputs when available. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. Topic 825 excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Company. Assets and Liabilities Recorded at Fair Value on a Recurring Basis Assets measured at fair value on a recurring basis and reflected in the consolidated balance sheets at the dates presented, segregated by fair value hierarchy, are summarized below: June 30, 2015 Level 1 Level 2 Assets: (market approach) U.S. GSE debt securities $ 0 $ 14,908,104 U.S. Government securities 3,002,969 0 Agency MBS 0 11,559,773 Other investments 0 1,733,188 Total $ 3,002,969 $ 28,201,065 December 31, 2014 Level 1 Level 2 Assets: (market approach) U.S. GSE debt securities $ 0 $ 19,907,150 U.S. Government securities 4,000,937 0 Agency MBS 0 9,038,807 Total $ 4,000,937 $ 28,945,957 June 30, 2014 Assets: (market approach) U.S. GSE debt securities $ 0 $ 15,958,061 U.S. Government securities 5,533,006 0 Agency MBS 0 9,707,891 Total $ 5,533,006 $ 25,665,952 There were no transfers between Levels 1 and 2 for the periods presented. There were no Level 3 assets or liabilities measured on a recurring basis as of the balance sheet dates presented. Assets and Liabilities Recorded at Fair Value on a Non-Recurring Basis The following table includes assets measured at fair value on a non-recurring basis that have had a fair value adjustment since their initial recognition. Impaired loans measured at fair value only include impaired loans with a related specific allowance for loan losses and are presented net of specific allowances as disclosed in Note 5. Assets measured at fair value on a non-recurring basis and reflected in the consolidated balance sheets at the dates presented, segregated by fair value hierarchy, are summarized below: June 30, 2015 Level 2 Assets: (market approach) Residential mortgage servicing rights $ 1,298,418 Impaired loans, net of related allowance 391,252 OREO 1,122,500 December 31, 2014 Assets: (market approach) Residential mortgage servicing rights $ 1,311,965 Impaired loans, net of related allowance 241,819 OREO 1,238,320 June 30, 2014 Assets: (market approach) Residential mortgage servicing rights $ 1,324,713 Impaired loans, net of related allowance 1,047,291 OREO 916,820 There were no Level 1 or Level 3 assets or liabilities measured on a non-recurring basis as of the balance sheet dates presented. The estimated fair values of commitments to extend credit and letters of credit were immaterial as of the dates presented in the tables below. The estimated fair values of the Company's financial instruments were as follows: June 30, 2015 Fair Fair Fair Fair Carrying Value Value Value Value Amount Level 1 Level 2 Level 3 Total (Dollars in Thousands) Financial assets: Cash and cash equivalents $ 19,454 $ 19,454 $ 0 $ 0 $ 19,454 Securities held-to-maturity 25,739 0 26,055 0 26,055 Securities available-for-sale 31,204 3,003 28,201 0 31,204 Restricted equity securities 3,332 0 3,332 0 3,332 Loans and loans held-for-sale Commercial & industrial 72,607 0 524 73,638 74,162 Commercial real estate 170,410 0 1,846 174,080 175,926 Residential real estate - 1st lien 160,951 0 1,274 164,014 165,288 Residential real estate - Jr lien 43,421 0 191 44,160 44,351 Consumer 7,358 0 0 7,695 7,695 Mortgage servicing rights 1,298 0 1,496 0 1,496 Accrued interest receivable 1,578 0 1,578 0 1,578 Financial liabilities: Deposits Other deposits 432,657 0 432,533 0 432,533 Brokered deposits 22,410 0 22,426 0 22,426 Federal funds purchased and short-term borrowings 30,000 0 30,000 0 30,000 Repurchase agreements 24,403 0 24,403 0 24,403 Capital lease obligations 600 0 600 0 600 Subordinated debentures 12,887 0 12,856 0 12,856 Accrued interest payable 47 0 47 0 47 December 31, 2014 Fair Fair Fair Fair Carrying Value Value Value Value Amount Level 1 Level 2 Level 3 Total (Dollars in Thousands) Financial assets: Cash and cash equivalents $ 24,962 $ 24,962 $ 0 $ 0 $ 24,962 Securities held-to-maturity 41,811 0 42,234 0 42,234 Securities available-for-sale 32,947 4,001 28,946 0 32,947 Restricted equity securities 3,332 0 3,332 0 3,332 Loans and loans held-for-sale Commercial & industrial 63,709 0 391 64,800 65,191 Commercial real estate 164,212 0 1,897 167,961 169,858 Residential real estate - 1st lien 162,635 0 678 166,171 166,849 Residential real estate - Jr lien 44,457 0 329 45,113 45,442 Consumer 7,912 0 0 8,315 8,315 Mortgage servicing rights 1,312 0 1,528 0 1,528 Accrued interest receivable 1,698 0 1,698 0 1,698 Financial liabilities: Deposits Other deposits 472,966 0 473,100 0 473,100 Brokered deposits 20,053 0 20,054 0 20,054 Repurchase agreements 28,543 0 28,543 0 28,543 Capital lease obligations 640 0 640 0 640 Subordinated debentures 12,887 0 12,867 0 12,867 Accrued interest payable 64 0 64 0 64 June 30, 2014 Fair Fair Fair Fair Carrying Value Value Value Value Amount Level 1 Level 2 Level 3 Total (Dollars in Thousands) Financial assets: Cash and cash equivalents $ 16,343 $ 16,343 $ 0 $ 0 $ 16,343 Securities held-to-maturity 22,967 0 23,373 0 23,373 Securities available-for-sale 31,199 5,533 25,666 0 31,199 Restricted equity securities 3,332 0 3,332 0 3,332 Loans and loans held-for-sale Commercial & industrial 63,742 0 1,135 64,023 65,158 Commercial real estate 162,031 0 1,539 165,635 167,174 Residential real estate - 1st lien 168,582 0 1,274 172,278 173,552 Residential real estate - Jr lien 44,238 0 358 44,839 45,197 Consumer 7,793 0 0 8,167 8,167 Mortgage servicing rights 1,325 0 1,523 0 1,523 Accrued interest receivable 1,445 0 1,445 0 1,445 Financial liabilities: Deposits Other deposits 428,186 0 428,924 0 428,924 Brokered deposits 26,879 0 26,884 0 26,884 Federal funds purchased and short-term borrowings 13,915 0 13,915 0 13,915 Long-term borrowings 6,000 0 6,000 0 6,000 Repurchase agreements 23,583 0 23,583 0 23,583 Capital lease obligations 677 0 677 0 677 Subordinated debentures 12,887 0 12,869 0 12,869 Accrued interest payable 70 0 70 0 70

8. Loan Servicing

8. Loan Servicing	6 Months Ended
	Jun. 30, 2015
Transfers and Servicing of Financial Assets [Abstract]
Note 8. Loan Servicing	The following table shows the changes in the carrying amount of the mortgage servicing rights, included in other assets on the consolidated balance sheets, for the periods indicated: June 30, December 31, June 30, 2015 2014 2014 Balance at beginning of year $ 1,311,965 $ 1,329,079 $ 1,329,079 Mortgage servicing rights capitalized 112,687 209,713 112,601 Mortgage servicing rights amortized (128,791 ) (250,955 ) (122,727 ) Change in valuation allowance 2,557 24,128 5,760 Balance at end of period $ 1,298,418 $ 1,311,965 $ 1,324,713

9. Legal Proceedings

9. Legal Proceedings	6 Months Ended
	Jun. 30, 2015
Legal Proceedings
Note 9. Legal Proceedings	In the normal course of business, the Company and its subsidiary are involved in litigation that is considered incidental to their business. Management does not expect that any such litigation will be material to the Company's consolidated financial condition or results of operations.

10. Subsequent Event

10. Subsequent Event	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
Note 10. Subsequent Event	The Company has evaluated events and transactions through the date that the financial statements were issued for potential recognition or disclosure in these financial statements, as required by GAAP. On June 9, 2015, the Company declared a cash dividend of $0.16 per common share payable August 1, 2015 to shareholders of record as of July 15, 2015. This dividend, amounting to $791,903, was accrued at June 30, 2015.

1. Basis of Presentation and 17

1. Basis of Presentation and Consolidation (Policies)	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Consolidation	The interim consolidated financial statements of Community Bancorp. and Subsidiary are unaudited. All significant intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments necessary for the fair presentation of the financial condition and results of operations of the Company contained herein have been made. The unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2014 contained in the Company's Annual Report on Form 10-K. The results of operations for the interim period are not necessarily indicative of the results of operations to be expected for the full annual period ending December 31, 2015, or for any other interim period. Certain amounts in the 2014 unaudited consolidated income statements have been reclassified to conform to the 2015 presentation. Reclassifications had no effect on prior period net income or shareholders’ equity.

3. Earnings per Common Share (T

3. Earnings per Common Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Schedule Of Earnings Per Share	Three Months Ended June 30, 2015 2014 Net income, as reported $ 1,077,704 $ 1,284,386 Less: dividends to preferred shareholders 20,312 20,312 Net income available to common shareholders $ 1,057,392 $ 1,264,074 Weighted average number of common shares used in calculating earnings per share 4,954,879 4,889,257 Earnings per common share $ 0.21 $ 0.26 Six Months Ended June 30, 2015 2014 Net income, as reported $ 2,187,544 $ 2,355,951 Less: dividends to preferred shareholders 40,625 40,625 Net income available to common shareholders $ 2,146,919 $ 2,315,326 Weighted average number of common shares used in calculating earnings per share 4,946,734 4,880,969 Earnings per common share $ 0.43 $ 0.47

4. Investment Securities (Table

4. Investment Securities (Tables)	6 Months Ended
	Jun. 30, 2015
Investment Securities
Schedule Of Available For Sale Securities	Securities available-for-sale (AFS) and held-to-maturity (HTM) as of the balance sheet dates consisted of the following: Gross Gross Amortized Unrealized Unrealized Fair Securities AFS Cost Gains Losses Value June 30, 2015 U.S. Government sponsored enterprise (GSE) debt securities $ 14,862,842 $ 59,687 $ 14,425 $ 14,908,104 U.S. Government securities 2,991,281 11,688 0 3,002,969 Agency mortgage-backed securities (Agency MBS) 11,614,125 356 54,708 11,559,773 Other investments 1,736,000 904 3,716 1,733,188 $ 31,204,248 $ 72,635 $ 72,849 $ 31,204,034 December 31, 2014 U.S. GSE debt securities $ 19,929,061 $ 50,378 $ 72,289 $ 19,907,150 U.S. Government securities 3,997,451 3,486 0 4,000,937 Agency MBS 9,031,661 19,472 12,326 9,038,807 $ 32,958,173 $ 73,336 $ 84,615 $ 32,946,894 June 30, 2014 U.S. GSE debt securities $ 15,950,885 $ 80,833 $ 73,657 $ 15,958,061 U.S. Government securities 5,518,770 14,716 480 5,533,006 Agency MBS 9,713,629 3,847 9,585 9,707,891 $ 31,183,284 $ 99,396 $ 83,722 $ 31,198,958
Schedule Of Held to Maturity Securities	Gross Gross Amortized Unrealized Unrealized Fair Securities HTM Cost Gains Losses Value* June 30, 2015 States and political subdivisions $ 25,738,769 $ 316,231 $ 0 $ 26,055,000 December 31, 2014 States and political subdivisions $ 41,810,945 $ 423,055 $ 0 $ 42,234,000 June 30, 2014 States and political subdivisions $ 22,966,558 $ 406,442 $ 0 $ 23,373,000 *Method used to determine fair value of HTM securities rounds values to nearest thousand.
Schedule of Maturities of Debt Securities Available for Sale	The scheduled maturities of debt securities AFS were as follows: Amortized Fair Cost Value June 30, 2015 Due in one year or less $ 5,115,547 $ 5,133,829 Due from one to five years 14,474,576 14,510,432 Agency MBS 11,614,125 11,559,773 $ 31,204,248 $ 31,204,034 December 31, 2014 Due in one year or less $ 5,027,864 $ 5,034,248 Due from one to five years 18,898,648 18,873,839 Agency MBS 9,031,661 9,038,807 $ 32,958,173 $ 32,946,894 June 30, 2014 Due in one year or less $ 2,025,196 $ 2,030,578 Due from one to five years 19,444,459 19,460,489 Agency MBS 9,713,629 9,707,891 $ 31,183,284 $ 31,198,958
Schedule Of Maturities of Debt Securities Held to Maturity	The scheduled maturities of debt securities HTM were as follows: Amortized Fair Cost Value* June 30, 2015 Due in one year or less $ 12,851,025 $ 12,851,000 Due from one to five years 4,101,928 4,181,000 Due from five to ten years 2,166,612 2,246,000 Due after ten years 6,619,204 6,777,000 $ 25,738,769 $ 26,055,000 December 31, 2014 Due in one year or less $ 28,158,718 $ 28,159,000 Due from one to five years 4,637,913 4,744,000 Due from five to ten years 2,305,353 2,411,000 Due after ten years 6,708,961 6,920,000 $ 41,810,945 $ 42,234,000 June 30, 2014 Due in one year or less $ 12,616,400 $ 12,616,000 Due from one to five years 4,239,436 4,341,000 Due from five to ten years 2,381,853 2,484,000 Due after ten years 3,728,869 3,932,000 $ 22,966,558 $ 23,373,000 *Method used to determine fair value of HTM securities rounds values to nearest thousand.
Schedule Of Unrealized Loss	There were no debt securities HTM in an unrealized loss position as of the balance sheet dates. Debt securities AFS with unrealized losses as of the balance sheet dates are presented in the table below. Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss June 30, 2015 U.S. GSE debt securities $ 4,235,402 $ 9,709 $ 995,284 $ 4,716 $ 5,230,686 $ 14,425 Agency MBS 10,702,696 54,708 0 0 10,702,696 54,708 Other investments 1,236,283 3,716 0 0 1,236,283 3,716 $ 16,174,381 $ 68,133 $ 995,284 $ 4,716 $ 17,169,665 $ 72,849 December 31, 2014 U.S. GSE debt securities $ 6,023,946 $ 8,548 $ 5,186,258 $ 63,741 $ 11,210,204 $ 72,289 Agency MBS 3,206,389 12,326 0 0 3,206,389 12,326 $ 9,230,335 $ 20,874 $ 5,186,258 $ 63,741 $ 14,416,593 $ 84,615 June 30, 2014 U.S. GSE debt securities $ 0 $ 0 $ 5,176,343 $ 73,657 $ 5,176,343 $ 73,657 U.S. Government securities 1,490,193 480 0 0 1,490,193 480 Agency MBS 4,937,780 9,585 0 0 4,937,780 9,585 $ 6,427,973 $ 10,065 $ 5,176,343 $ 73,657 $ 11,604,316 $ 83,722

5. Loans, Allowance for Loan 20

5. Loans, Allowance for Loan Losses and Credit Quality (Tables)	6 Months Ended
	Jun. 30, 2015
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Composition of net loans	June 30, December 31, June 30, 2015 2014 2014 Commercial & industrial $ 73,561,125 $ 64,390,220 $ 64,475,384 Commercial real estate 172,565,221 166,611,830 164,302,843 Residential real estate - 1st lien 162,109,916 163,966,124 169,367,709 Residential real estate - Jr lien 43,816,552 44,801,483 44,564,026 Consumer 7,429,236 8,035,298 7,883,342 459,482,050 447,804,955 450,593,304 Deduct (add): Allowance for loan losses 5,095,212 4,905,874 4,876,816 Deferred net loan costs (307,235 ) (303,394 ) (288,237 ) 4,787,977 4,602,480 4,588,579 Net Loans $ 454,694,073 $ 443,202,475 $ 446,004,725
Past due loans by segment	90 Days or 90 Days Total Non-Accrual More June 30, 2015 30-89 Days or More Past Due Current Total Loans Loans and Accruing Commercial & industrial $ 177,758 $ 174,184 $ 351,942 $ 73,209,183 $ 73,561,125 $ 767,235 $ 0 Commercial real estate 740,547 239,619 980,166 171,585,055 172,565,221 1,909,917 5,313 Residential real estate - 1st lien 2,222,425 828,694 3,051,119 159,058,797 162,109,916 1,927,300 528,211 Residential real estate - Jr lien 346,444 82,021 428,465 43,388,087 43,816,552 311,571 82,021 Consumer 38,159 8,987 47,146 7,382,090 7,429,236 0 8,987 Total $ 3,525,333 $ 1,333,505 $ 4,858,838 $ 454,623,212 $ 459,482,050 $ 4,916,023 $ 624,532 90 Days or 90 Days Total Non-Accrual More December 31, 2014 30-89 Days or More Past Due Current Total Loans Loans and Accruing Commercial & industrial $ 439,151 $ 299,095 $ 738,246 $ 63,651,974 $ 64,390,220 $ 552,386 $ 23,579 Commercial real estate 988,924 5,313 994,237 165,617,593 166,611,830 1,934,096 5,313 Residential real estate - 1st lien 4,446,138 1,484,334 5,930,472 158,035,652 163,966,124 1,263,046 980,138 Residential real estate - Jr lien 637,917 179,920 817,837 43,983,646 44,801,483 404,061 115,852 Consumer 56,392 0 56,392 7,978,906 8,035,298 0 0 Total $ 6,568,522 $ 1,968,662 $ 8,537,184 $ 439,267,771 $ 447,804,955 $ 4,153,589 $ 1,124,882 90 Days or 90 Days Total Non-Accrual More June 30, 2014 30-89 Days or More Past Due Current Total Loans Loans and Accruing Commercial & industrial $ 373,363 $ 605,406 $ 978,769 $ 63,496,615 $ 64,475,384 $ 1,347,748 $ 102,961 Commercial real estate 1,378,654 94,609 1,473,263 162,829,580 164,302,843 1,661,324 5,313 Residential real estate - 1st lien 2,542,507 991,146 3,533,653 165,834,056 169,367,709 1,943,475 231,085 Residential real estate - Jr lien 228,014 110,451 338,465 44,225,561 44,564,026 453,304 57,241 Consumer 54,479 17,927 72,406 7,810,936 7,883,342 0 17,927 Total $ 4,577,017 $ 1,819,539 $ 6,396,556 $ 444,196,748 $ 450,593,304 $ 5,405,851 $ 414,527
Changes in the allowance for loan losses	The following tables summarize changes in the allowance for loan losses and select loan information, by portfolio segment, for the periods indicated: As of or for the three months ended June 30, 2015 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Unallocated Total Allowance for loan losses Beginning balance $ 750,491 $ 2,325,111 $ 1,322,017 $ 321,407 $ 86,084 $ 197,939 $ 5,003,049 Charge-offs 0 0 (78,700 ) 0 (22,816 ) 0 (101,516 ) Recoveries 37,306 0 0 60 6,313 0 43,679 Provision (credit) 93,297 (340,552 ) 115,187 30,658 (5,768 ) 257,178 150,000 Ending balance $ 881,094 $ 1,984,559 $ 1,358,504 $ 352,125 $ 63,813 $ 455,117 $ 5,095,212 As of or for the six months ended June 30, 2015 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Unallocated Total Allowance for loan losses Beginning balance $ 646,719 $ 2,311,936 $ 1,270,766 $ 321,099 $ 118,819 $ 236,535 $ 4,905,874 Charge-offs (35,059 ) 0 (94,575 ) (20,199 ) (28,105 ) 0 (177,938 ) Recoveries 42,913 0 6,042 120 18,201 0 67,276 Provision (credit) 226,521 (327,377 ) 176,271 51,105 (45,102 ) 218,582 300,000 Ending balance $ 881,094 $ 1,984,559 $ 1,358,504 $ 352,125 $ 63,813 $ 455,117 $ 5,095,212 Allowance for loan losses Evaluated for impairment Individually $ 70,000 $ 0 $ 71,800 $ 47,500 $ 0 $ 0 $ 189,300 Collectively 811,094 1,984,559 1,286,704 304,625 63,813 455,117 4,905,912 Total $ 881,094 $ 1,984,559 $ 1,358,504 $ 352,125 $ 63,813 $ 455,117 $ 5,095,212 Loans evaluated for impairment Individually $ 594,176 $ 1,845,751 $ 1,345,820 $ 238,623 $ 0 $ 4,024,370 Collectively 72,966,949 170,719,470 160,764,096 43,577,929 7,429,236 455,457,680 Total $ 73,561,125 $ 172,565,221 $ 162,109,916 $ 43,816,552 $ 7,429,236 $ 459,482,050 As of or for the year ended December 31, 2014 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Unallocated Total Allowance for loan losses Beginning balance $ 516,382 $ 2,143,398 $ 1,452,184 $ 366,471 $ 105,279 $ 271,201 $ 4,854,915 Charge-offs (153,329 ) (167,841 ) (58,904 ) (51,389 ) (112,376 ) 0 (543,839 ) Recoveries 6,249 0 14,543 240 33,766 0 54,798 Provision (credit) 277,417 336,379 (137,057 ) 5,777 92,150 (34,666 ) 540,000 Ending balance $ 646,719 $ 2,311,936 $ 1,270,766 $ 321,099 $ 118,819 $ 236,535 $ 4,905,874 Allowance for loan losses Evaluated for impairment Individually $ 0 $ 34,400 $ 43,400 $ 0 $ 0 $ 0 $ 77,800 Collectively 646,719 2,277,536 1,227,366 321,099 118,819 236,535 4,828,074 Total $ 646,719 $ 2,311,936 $ 1,270,766 $ 321,099 $ 118,819 $ 236,535 $ 4,905,874 Loans evaluated for impairment Individually $ 390,605 $ 1,930,993 $ 721,241 $ 328,889 $ 0 $ 3,371,728 Collectively 63,999,615 164,680,837 163,244,883 44,472,594 8,035,298 444,433,227 Total $ 64,390,220 $ 166,611,830 $ 163,966,124 $ 44,801,483 $ 8,035,298 $ 447,804,955 As of or for the three months ended June 30, 2014 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Unallocated Total Allowance for loan losses Beginning balance $ 556,223 $ 2,172,678 $ 1,396,934 $ 348,738 $ 100,386 $ 262,619 $ 4,837,578 Charge-offs (70,534 ) (30,819 ) 0 0 (14,241 ) 0 (115,594 ) Recoveries 2,124 0 1,725 60 15,923 0 19,832 Provision (credit) 199,603 13,879 (61,648 ) (54,184 ) (17,953 ) 55,303 135,000 Ending balance $ 687,416 $ 2,155,738 $ 1,337,011 $ 294,614 $ 84,115 $ 317,922 $ 4,876,816 As of or for the six months ended June 30, 2014 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Unallocated Total Allowance for loan losses Beginning balance $ 516,382 $ 2,143,398 $ 1,452,184 $ 366,471 $ 105,279 $ 271,201 $ 4,854,915 Charge-offs (87,214 ) (130,819 ) 0 0 (65,769 ) 0 (283,802 ) Recoveries 2,236 0 11,098 120 22,249 0 35,703 Provision (credit) 256,012 143,159 (126,271 ) (71,977 ) 22,356 46,721 270,000 Ending balance $ 687,416 $ 2,155,738 $ 1,337,011 $ 294,614 $ 84,115 $ 317,922 $ 4,876,816 Allowance for loan losses Evaluated for impairment Individually $ 99,300 $ 18,900 $ 100,600 $ 13,100 $ 0 $ 0 $ 231,900 Collectively 588,116 2,136,838 1,236,411 281,514 84,115 317,922 4,644,916 Total $ 687,416 $ 2,155,738 $ 1,337,011 $ 294,614 $ 84,115 $ 317,922 $ 4,876,816 Loans evaluated for impairment Individually $ 1,233,885 $ 1,558,186 $ 1,374,851 $ 370,775 $ 0 $ 4,537,697 Collectively 63,241,499 162,744,657 167,992,858 44,193,251 7,883,342 446,055,607 Total $ 64,475,384 $ 164,302,843 $ 169,367,709 $ 44,564,026 $ 7,883,342 $ 450,593,304
Impaired loans by segment	Impaired loans, by portfolio segment, were as follows: As of June 30, 2015 Unpaid Average Average Recorded Principal Related Recorded Recorded Investment Balance Allowance Investment(1) Investment(2) With no related allowance recorded Commercial & industrial $ 502,237 $ 560,173 $ 0 $ 555,057 $ 300,144 Commercial real estate 1,845,751 1,856,008 0 1,976,769 1,136,004 Residential real estate - 1st lien 1,095,830 1,470,050 0 780,255 433,329 Residential real estate - Jr lien 0 0 0 120,465 113,964 $ 3,443,818 $ 3,886,231 $ 0 $ 3,432,546 $ 1,983,441 With an allowance recorded Commercial & industrial $ 91,940 $ 94,826 $ 70,000 $ 93,398 $ 37,359 Commercial real estate 0 0 0 0 40,902 Residential real estate - 1st lien 249,989 284,200 71,800 302,937 144,196 Residential real estate - Jr lien 238,623 284,202 47,500 152,865 61,146 $ 580,552 $ 663,228 $ 189,300 $ 549,200 $ 283,603 Total $ 4,024,370 $ 4,549,459 $ 189,300 $ 3,981,746 $ 2,267,044 (1) For the three months ended June 30, 2015 (2) For the six months ended June 30, 2015 As of December 31, 2014 2014 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With no related allowance recorded Commercial & industrial $ 390,605 $ 424,598 $ 0 $ 507,232 Commercial real estate 1,726,482 1,689,772 0 1,294,710 Residential real estate - 1st lien 606,133 875,841 0 971,542 Residential real estate - Jr lien 328,889 390,260 0 238,826 $ 3,052,109 $ 3,380,471 $ 0 $ 3,012,310 With an allowance recorded Commercial & industrial $ 0 $ 0 $ 0 $ 158,690 Commercial real estate 204,511 220,981 34,400 280,104 Residential real estate - 1st lien 115,108 144,708 43,400 294,807 Residential real estate - Jr lien 0 0 0 149,772 $ 319,619 $ 365,689 $ 77,800 $ 883,373 Total $ 3,371,728 $ 3,746,160 $ 77,800 $ 3,895,683 As of June 30, 2014 Unpaid Average Average Recorded Principal Related Recorded Recorded Investment Balance Allowance Investment(1) Investment(2) With no related allowance recorded Commercial & industrial $ 819,016 $ 884,377 $ 0 $ 552,178 $ 472,955 Commercial real estate 1,337,570 1,431,199 0 1,248,510 1,147,288 Residential real estate - 1st lien 832,008 905,092 0 1,042,268 1,146,323 Residential real estate - Jr lien 269,912 316,506 0 183,089 176,772 $ 3,258,506 $ 3,537,174 $ 0 $ 3,026,045 $ 2,943,338 With an allowance recorded Commercial & industrial 414,869 415,759 99,300 238,953 179,031 Commercial real estate 220,616 231,221 18,900 165,405 257,481 Residential real estate - 1st lien 542,843 579,363 100,600 394,924 408,070 Residential real estate - Jr lien 100,863 109,217 13,100 176,875 249,621 $ 1,279,191 $ 1,335,560 $ 231,900 $ 976,157 $ 1,094,203 Total $ 4,537,697 $ 4,872,734 $ 231,900 $ 4,002,202 $ 4,037,541 (1) For the three months ended June 30, 2014 (2) For the six months ended June 30, 2014
Risk ratings	The risk ratings within the loan portfolio, by segment, as of the balance sheet dates were as follows: As of June 30, 2015 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Total Group A $ 70,152,385 $ 162,191,020 $ 158,224,270 $ 43,196,452 $ 7,420,249 $ 441,184,376 Group B 2,451,677 4,819,930 231,391 228,892 0 7,731,890 Group C 957,063 5,554,271 3,654,255 391,208 8,987 10,565,784 Total $ 73,561,125 $ 172,565,221 $ 162,109,916 $ 43,816,552 $ 7,429,236 $ 459,482,050 As of December 31, 2014 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Total Group A $ 61,201,586 $ 157,767,641 $ 160,912,689 $ 44,018,956 $ 8,035,298 $ 431,936,170 Group B 2,316,908 3,280,904 228,148 251,822 0 6,077,782 Group C 871,726 5,563,285 2,825,287 530,705 0 9,791,003 Total $ 64,390,220 $ 166,611,830 $ 163,966,124 $ 44,801,483 $ 8,035,298 $ 447,804,955 As of June 30, 2014 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Total Group A $ 60,373,539 $ 155,124,213 $ 166,345,054 $ 43,883,107 $ 7,865,415 $ 433,591,328 Group B 2,730,275 3,586,566 598,381 147,531 0 7,062,753 Group C 1,371,570 5,592,064 2,424,274 533,388 17,927 9,939,223 Total $ 64,475,384 $ 164,302,843 $ 169,367,709 $ 44,564,026 $ 7,883,342 $ 450,593,304
Loans modified as TDRs	TDRs, by portfolio segment, for the periods presented were as follows: Three months ended June 30, 2015 Six months ended June 30, 2015 Pre- Post- Pre- Post- Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded Contracts Investment Investment Contracts Investment Investment Commercial & industrial 3 $ 198,999 $ 198,829 3 $ 198,999 $ 198,829 Residential real estate - 1st lien 3 618,317 660,196 8 962,646 1,021,102 - Jr lien 0 0 0 2 117,745 121,672 Total 6 $ 817,316 $ 859,025 13 $ 1,279,390 $ 1,341,603 Year ended December 31, 2014 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment Commercial real estate 1 $ 301,823 $ 301,823 Residential real estate - 1st lien 11 1,294,709 1,332,336 Total 12 $ 1,596,532 $ 1,634,159 Three months ended June 30, 2014 Six months ended June 30, 2014 Pre- Post- Pre- Post- Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded Contracts Investment Investment Contracts Investment Investment Residential real estate - 1st lien 3 $ 218,330 $ 237,090 6 $ 480,899 $ 510,737
TDRs payment default	The TDR’s for which there was a payment default during the twelve month periods presented were as follows: Twelve months ended June 30, 2015 Number of Recorded Contracts Investment Commercial 1 $ 82,336 Residential real estate - 1st lien 3 258,568 Total 4 $ 340,904 Year ended December 31, 2014 Number of Recorded Contracts Investment Residential real estate - 1st lien 2 $ 137,830 Twelve months ended June 30, 2014 Number of Recorded Contracts Investment Residential real estate – 1st lien 5 $ 441,679

6. Goodwill and Other Intangi21

6. Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Future Amortization Expense	2015 $ 136,345 2016 272,695 2017 272,691 Total remaining core deposit intangible $ 681,731

7. Fair Value (Tables)

7. Fair Value (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Schedule Of Fair Value Assets and Liabilities On Recurring Basis	June 30, 2015 Level 1 Level 2 Assets: (market approach) U.S. GSE debt securities $ 0 $ 14,908,104 U.S. Government securities 3,002,969 0 Agency MBS 0 11,559,773 Other investments 0 1,733,188 Total $ 3,002,969 $ 28,201,065 December 31, 2014 Level 1 Level 2 Assets: (market approach) U.S. GSE debt securities $ 0 $ 19,907,150 U.S. Government securities 4,000,937 0 Agency MBS 0 9,038,807 Total $ 4,000,937 $ 28,945,957 June 30, 2014 Assets: (market approach) U.S. GSE debt securities $ 0 $ 15,958,061 U.S. Government securities 5,533,006 0 Agency MBS 0 9,707,891 Total $ 5,533,006 $ 25,665,952
Schedule of Fair Value Assets and Liabilities Non-recurring Basis	June 30, 2015 Level 2 Assets: (market approach) Residential mortgage servicing rights $ 1,298,418 Impaired loans, net of related allowance 391,252 OREO 1,122,500 December 31, 2014 Assets: (market approach) Residential mortgage servicing rights $ 1,311,965 Impaired loans, net of related allowance 241,819 OREO 1,238,320 June 30, 2014 Assets: (market approach) Residential mortgage servicing rights $ 1,324,713 Impaired loans, net of related allowance 1,047,291 OREO 916,820
Schedule Of Estimated Fair Values Of Financial Instruments	June 30, 2015 Fair Fair Fair Fair Carrying Value Value Value Value Amount Level 1 Level 2 Level 3 Total (Dollars in Thousands) Financial assets: Cash and cash equivalents $ 19,454 $ 19,454 $ 0 $ 0 $ 19,454 Securities held-to-maturity 25,739 0 26,055 0 26,055 Securities available-for-sale 31,204 3,003 28,201 0 31,204 Restricted equity securities 3,332 0 3,332 0 3,332 Loans and loans held-for-sale Commercial & industrial 72,607 0 524 73,638 74,162 Commercial real estate 170,410 0 1,846 174,080 175,926 Residential real estate - 1st lien 160,951 0 1,274 164,014 165,288 Residential real estate - Jr lien 43,421 0 191 44,160 44,351 Consumer 7,358 0 0 7,695 7,695 Mortgage servicing rights 1,298 0 1,496 0 1,496 Accrued interest receivable 1,578 0 1,578 0 1,578 Financial liabilities: Deposits Other deposits 432,657 0 432,533 0 432,533 Brokered deposits 22,410 0 22,426 0 22,426 Federal funds purchased and short-term borrowings 30,000 0 30,000 0 30,000 Repurchase agreements 24,403 0 24,403 0 24,403 Capital lease obligations 600 0 600 0 600 Subordinated debentures 12,887 0 12,856 0 12,856 Accrued interest payable 47 0 47 0 47 December 31, 2014 Fair Fair Fair Fair Carrying Value Value Value Value Amount Level 1 Level 2 Level 3 Total (Dollars in Thousands) Financial assets: Cash and cash equivalents $ 24,962 $ 24,962 $ 0 $ 0 $ 24,962 Securities held-to-maturity 41,811 0 42,234 0 42,234 Securities available-for-sale 32,947 4,001 28,946 0 32,947 Restricted equity securities 3,332 0 3,332 0 3,332 Loans and loans held-for-sale Commercial & industrial 63,709 0 391 64,800 65,191 Commercial real estate 164,212 0 1,897 167,961 169,858 Residential real estate - 1st lien 162,635 0 678 166,171 166,849 Residential real estate - Jr lien 44,457 0 329 45,113 45,442 Consumer 7,912 0 0 8,315 8,315 Mortgage servicing rights 1,312 0 1,528 0 1,528 Accrued interest receivable 1,698 0 1,698 0 1,698 Financial liabilities: Deposits Other deposits 472,966 0 473,100 0 473,100 Brokered deposits 20,053 0 20,054 0 20,054 Repurchase agreements 28,543 0 28,543 0 28,543 Capital lease obligations 640 0 640 0 640 Subordinated debentures 12,887 0 12,867 0 12,867 Accrued interest payable 64 0 64 0 64 June 30, 2014 Fair Fair Fair Fair Carrying Value Value Value Value Amount Level 1 Level 2 Level 3 Total (Dollars in Thousands) Financial assets: Cash and cash equivalents $ 16,343 $ 16,343 $ 0 $ 0 $ 16,343 Securities held-to-maturity 22,967 0 23,373 0 23,373 Securities available-for-sale 31,199 5,533 25,666 0 31,199 Restricted equity securities 3,332 0 3,332 0 3,332 Loans and loans held-for-sale Commercial & industrial 63,742 0 1,135 64,023 65,158 Commercial real estate 162,031 0 1,539 165,635 167,174 Residential real estate - 1st lien 168,582 0 1,274 172,278 173,552 Residential real estate - Jr lien 44,238 0 358 44,839 45,197 Consumer 7,793 0 0 8,167 8,167 Mortgage servicing rights 1,325 0 1,523 0 1,523 Accrued interest receivable 1,445 0 1,445 0 1,445 Financial liabilities: Deposits Other deposits 428,186 0 428,924 0 428,924 Brokered deposits 26,879 0 26,884 0 26,884 Federal funds purchased and short-term borrowings 13,915 0 13,915 0 13,915 Long-term borrowings 6,000 0 6,000 0 6,000 Repurchase agreements 23,583 0 23,583 0 23,583 Capital lease obligations 677 0 677 0 677 Subordinated debentures 12,887 0 12,869 0 12,869 Accrued interest payable 70 0 70 0 70

8. Loan Servicing (Tables)

8. Loan Servicing (Tables)	6 Months Ended
	Jun. 30, 2015
Transfers and Servicing of Financial Assets [Abstract]
Schedule Of Mortgage Servicing Rights	June 30, December 31, June 30, 2015 2014 2014 Balance at beginning of year $ 1,311,965 $ 1,329,079 $ 1,329,079 Mortgage servicing rights capitalized 112,687 209,713 112,601 Mortgage servicing rights amortized (128,791 ) (250,955 ) (122,727 ) Change in valuation allowance 2,557 24,128 5,760 Balance at end of period $ 1,298,418 $ 1,311,965 $ 1,324,713

3. Earnings per Common Share (D

3. Earnings per Common Share (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Net income, as reported	$ 1,077,704	$ 1,284,386	$ 2,187,544	$ 2,355,951
Less: dividends to preferred shareholders	20,312	20,312	40,625	40,625
Net income available to common shareholders	$ 1,057,392	$ 1,264,074	$ 2,146,919	$ 2,315,326
Weighted average number of common shares used in calculating earnings per share	4,954,879	4,889,257	4,946,734	4,880,969
Earnings per common share	$ 0.21	$ 0.26	$ 0.43	$ 0.47

4. Investment Securities (Detai

4. Investment Securities (Details) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Available for sale Securities
Amortized Cost - Available for sale Securities	$ 31,204,248	$ 31,183,284	$ 32,958,173
Gross Unrealized Gains - Available for sale Securities	72,635	99,396	73,336
Gross Unrealized Losses - Available for sale Securities	72,849	83,722	84,615
Fair Value - Available for sale Securities	31,204,034	31,198,958	32,946,894
U.S. GSE debt securities
Available for sale Securities
Amortized Cost - Available for sale Securities	14,862,842	15,950,885	19,929,061
Gross Unrealized Gains - Available for sale Securities	59,687	80,833	50,378
Gross Unrealized Losses - Available for sale Securities	14,425	73,657	72,289
Fair Value - Available for sale Securities	14,908,104	15,958,061	19,907,150
U.S. Government securities
Available for sale Securities
Amortized Cost - Available for sale Securities	2,991,281	5,518,770	3,997,451
Gross Unrealized Gains - Available for sale Securities	11,688	14,716	3,486
Gross Unrealized Losses - Available for sale Securities	0	480	0
Fair Value - Available for sale Securities	3,002,969	5,533,006	4,000,937
Agency mortgage-backed securities (Agency MBS)
Available for sale Securities
Amortized Cost - Available for sale Securities	11,614,125	9,713,629	9,031,661
Gross Unrealized Gains - Available for sale Securities	356	3,847	19,472
Gross Unrealized Losses - Available for sale Securities	54,708	9,585	12,326
Fair Value - Available for sale Securities	11,559,773	$ 9,707,891	$ 9,038,807
Other investments
Available for sale Securities
Amortized Cost - Available for sale Securities	1,736,000
Gross Unrealized Gains - Available for sale Securities	904
Gross Unrealized Losses - Available for sale Securities	3,716
Fair Value - Available for sale Securities	$ 1,733,188

4. Investment Securities (Det26

4. Investment Securities (Details 1) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Held-to-Maturity Securities
Fair Value - Held-to-Maturity	$ 26,055,000	$ 23,373,000	$ 42,234,000
States and political subdivisions [Member]
Held-to-Maturity Securities
Amortized Cost - Held-to-Maturity	25,738,769	22,966,558	41,810,945
Gross Unrealized Gains - Held-to-Maturity	316,231	406,442	423,055
Gross Unrealized Losses - Held-to-Maturity	0	0	0
Fair Value - Held-to-Maturity	$ 26,055,000	$ 23,373,000	$ 42,234,000

4. Investment Securities (Det27

4. Investment Securities (Details 2) - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Available for sale Securities
Amortized Cost
Due in one year or less, Amortized Cost	$ 5,115,547	$ 5,027,864	$ 2,025,196
Due from one to five years, Amortized Cost	14,474,576	18,898,648	19,444,459
Agency MBS*	11,614,125	9,031,661	9,713,629
Amortization Cost of Debt	31,204,248	32,958,173	31,183,284
Fair Value
Due in one year or less, fair value	5,133,829	5,034,248	2,030,578
Due from one to five years, fair value	14,510,432	18,873,839	19,460,489
Agency MBS*	11,559,773	9,038,807	9,707,891
Fair value of debt	31,204,034	32,946,894	31,198,958
Held to maturity Securities
Amortized Cost
Due in one year or less, Amortized Cost	12,851,025	28,158,718	12,616,400
Due from one to five years, Amortized Cost	4,101,928	4,637,913	4,239,436
Due from five to ten years, Amortized Cost	2,166,612	2,305,353	2,381,853
Due after ten years, Amortized Cost	6,619,204	6,708,961	3,728,869
Amortization Cost of Debt	25,738,769	41,810,945	22,966,558
Fair Value
Due in one year or less, fair value	12,851,000	28,159,000	12,616,000
Due from one to five years, fair value	4,181,000	4,744,000	4,341,000
Due from five to ten years, fair value	2,246,000	2,411,000	2,484,000
Due after ten years, fair value	6,777,000	6,920,000	3,932,000
Fair value of debt	$ 26,055,000	$ 42,234,000	$ 23,373,000

4. Investment Securities (Det28

4. Investment Securities (Details 3) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Fair Value Less than 12 months	$ 16,174,381	$ 6,427,973	$ 9,230,335
Unrealized Loss Less than 12 months	68,133	10,065	20,874
Fair Value 12 months or more	995,284	5,176,343	5,186,258
Unrealized Loss 12 months or more	4,716	73,657	63,741
Fair Value	17,169,665	11,604,316	14,416,593
Unrealized Loss	72,849	83,722	84,615
U.S. GSE debt securities
Fair Value Less than 12 months	4,235,402	0	6,023,946
Unrealized Loss Less than 12 months	9,709	0	8,548
Fair Value 12 months or more	995,284	5,176,343	5,186,258
Unrealized Loss 12 months or more	4,716	73,657	63,741
Fair Value	5,230,686	5,176,343	11,210,204
Unrealized Loss	14,425	73,657	72,289
Agency mortgage-backed securities (Agency MBS)
Fair Value Less than 12 months	10,702,696	4,937,780	3,206,389
Unrealized Loss Less than 12 months	54,708	9,585	12,326
Fair Value 12 months or more	0	0	0
Unrealized Loss 12 months or more	0	0	0
Fair Value	10,702,696	4,937,780	3,206,389
Unrealized Loss	54,708	9,585	12,326
Other investments
Fair Value Less than 12 months	1,236,283
Unrealized Loss Less than 12 months	3,716
Fair Value 12 months or more	0
Unrealized Loss 12 months or more	0
Fair Value	1,236,283
Unrealized Loss	3,716
U.S. Government securities
Fair Value Less than 12 months		1,490,193
Unrealized Loss Less than 12 months		480
Fair Value 12 months or more		0
Unrealized Loss 12 months or more		0
Fair Value		1,490,193
Unrealized Loss	$ 0	$ 480	$ 0

4. Investment Securities (Det29

4. Investment Securities (Details Narrative) - integer	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
U.S. GSE debt securities
Number of securities	5	10	5
Agency mortgage-backed securities (Agency MBS)
Number of securities	11	4	5
Other investments
Number of securities	5
U.S. Government securities
Number of securities			2

5. Loans, Allowance for Loan 30

5. Loans, Allowance for Loan Losses and Credit Quality (Details) - USD ($)	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013
Loans and Leases Receivable Disclosure [Abstract]
Commercial & industrial	$ 73,561,125		$ 64,390,220	$ 64,475,384
Commercial real estate	172,565,221		166,611,830	164,302,843
Residential real estate - 1st lien	162,109,916		163,966,124	169,367,709
Residential real estate - Jr. lien	43,816,552		44,801,483	44,564,026
Consumer	7,429,236		8,035,298	7,883,342
Gross Loans	459,482,050		447,804,955	450,593,304
Allowance for loan losses	5,095,212	$ 5,003,049	4,905,874	4,876,816	$ 4,837,578	$ 4,854,915
Deferred net loan costs	(307,235)		(303,394)	(288,237)
Total Adjustments	4,787,977		4,602,480	4,588,579
Net loans	$ 454,694,073		$ 443,202,475	$ 446,004,725

5. Loans, Allowance for Loan 31

5. Loans, Allowance for Loan Losses and Credit Quality (Details 1) - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
30-89 Days	$ 3,525,333	$ 6,568,522	$ 4,577,017
90 Days or more	1,333,505	1,968,662	1,819,539
Total Past Due	4,858,838	8,537,184	6,396,556
Current	454,623,212	439,267,771	444,196,748
Total Loans	459,482,050	447,804,955	450,593,304
Non-Accrual Loans	4,916,023	4,153,589	5,405,851
90 Days or More and Accruing	624,532	1,124,882	414,527
Commercial and industrial
30-89 Days	177,758	439,151	373,363
90 Days or more	174,184	299,095	605,406
Total Past Due	351,942	738,246	978,769
Current	73,209,183	63,651,974	63,496,615
Total Loans	73,561,125	64,390,220	64,475,384
Non-Accrual Loans	767,235	552,386	1,347,748
90 Days or More and Accruing	0	23,579	102,961
Commercial Real Estate
30-89 Days	740,547	988,924	1,378,654
90 Days or more	239,619	5,313	94,609
Total Past Due	980,166	994,237	1,473,263
Current	171,585,055	165,617,593	162,829,580
Total Loans	172,565,221	166,611,830	164,302,843
Non-Accrual Loans	1,909,917	1,934,096	1,661,324
90 Days or More and Accruing	5,313	5,313	5,313
Residential real estate - 1st lien
30-89 Days	2,222,425	4,446,138	2,542,507
90 Days or more	828,694	1,484,334	991,146
Total Past Due	3,051,119	5,930,472	3,533,653
Current	159,058,797	158,035,652	165,834,056
Total Loans	162,109,916	163,966,124	169,367,709
Non-Accrual Loans	1,927,300	1,263,046	1,943,475
90 Days or More and Accruing	528,211	980,138	231,085
Residential real estate - Jr lien
30-89 Days	346,444	637,917	228,014
90 Days or more	82,021	179,920	110,451
Total Past Due	428,465	817,837	338,465
Current	43,388,087	43,983,646	44,225,561
Total Loans	43,816,552	44,801,483	44,564,026
Non-Accrual Loans	311,571	404,061	453,304
90 Days or More and Accruing	82,021	115,852	57,241
Consumer
30-89 Days	38,159	56,392	54,479
90 Days or more	8,987	0	17,927
Total Past Due	47,146	56,392	72,406
Current	7,382,090	7,978,906	7,810,936
Total Loans	7,429,236	8,035,298	7,883,342
Non-Accrual Loans	0	0	0
90 Days or More and Accruing	$ 8,987	$ 0	$ 17,927

5. Loans, Allowance for Loan 32

5. Loans, Allowance for Loan Losses and Credit Quality (Details 2) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Allowance for loan losses, Beginning balance	$ 5,003,049	$ 4,837,578	$ 4,905,874	$ 4,854,915	$ 4,854,915
Charge-offs	(101,516)	(115,594)	(177,938)	(283,802)	(543,839)
Recoveries	43,679	19,832	67,276	35,703	54,798
Provisions (credit)	150,000	135,000	300,000	270,000	540,000
Allowance for loan losses, Ending balance	5,095,212	4,876,816	5,095,212	4,876,816	4,905,874
Allowance for loan losses evaluated for impairment, Individually	189,300	231,900	189,300	231,900	77,800
Allowance for loan losses evaluated for impairment, Collectively	4,905,912	4,644,916	4,905,912	4,644,916	4,828,074
Allowance for loan losses	5,095,212	4,876,816	5,095,212	4,876,816	4,905,874
Loans evaluated for impairment, Individually	4,024,370	4,537,697	4,024,370	4,537,697	3,371,728
Loans evaluated for impairment, Collectively	455,457,680	446,055,607	455,457,680	446,055,607	444,433,227
Total Loans	459,482,050	450,593,304	459,482,050	450,593,304	447,804,955
Commercial and industrial
Allowance for loan losses, Beginning balance	750,491	556,223	646,719	516,382	516,382
Charge-offs	0	(70,534)	(35,059)	(87,214)	(153,329)
Recoveries	37,306	2,124	42,913	2,236	6,249
Provisions (credit)	93,297	199,603	226,521	256,012	277,417
Allowance for loan losses, Ending balance	881,094	687,416	881,094	687,416	646,719
Allowance for loan losses evaluated for impairment, Individually	70,000	99,300	70,000	99,300	0
Allowance for loan losses evaluated for impairment, Collectively	811,094	588,116	811,094	588,116	646,719
Allowance for loan losses	881,094	687,416	881,094	687,416	646,719
Loans evaluated for impairment, Individually	594,176	1,233,885	594,176	1,233,885	390,605
Loans evaluated for impairment, Collectively	72,966,949	63,241,499	72,966,949	63,241,499	63,999,615
Total Loans	73,561,125	64,475,384	73,561,125	64,475,384	64,390,220
Commercial Real Estate
Allowance for loan losses, Beginning balance	2,325,111	2,172,678	2,311,936	2,143,398	2,143,398
Charge-offs	0	(30,819)	0	(130,819)	(167,841)
Recoveries	0	0	0	0	0
Provisions (credit)	(340,552)	13,879	(327,377)	143,159	336,379
Allowance for loan losses, Ending balance	1,984,559	2,155,738	1,984,559	2,155,738	2,311,936
Allowance for loan losses evaluated for impairment, Individually	0	18,900	0	18,900	34,400
Allowance for loan losses evaluated for impairment, Collectively	1,984,559	2,136,838	1,984,559	2,136,838	2,277,536
Allowance for loan losses	1,984,559	2,155,738	1,984,559	2,155,738	2,311,936
Loans evaluated for impairment, Individually	1,845,751	1,558,186	1,845,751	1,558,186	1,930,993
Loans evaluated for impairment, Collectively	170,719,470	162,744,657	170,719,470	162,744,657	164,680,837
Total Loans	172,565,221	164,302,843	172,565,221	164,302,843	166,611,830
Residential Real Estate - 1st Lien
Allowance for loan losses, Beginning balance	1,322,017	1,396,934	1,270,766	1,452,184	1,452,184
Charge-offs	(78,700)	0	(94,575)	0	(58,904)
Recoveries	0	1,725	6,042	11,098	14,543
Provisions (credit)	115,187	(61,648)	176,271	(126,271)	(137,057)
Allowance for loan losses, Ending balance	1,358,504	1,337,011	1,358,504	1,337,011	1,270,766
Allowance for loan losses evaluated for impairment, Individually	71,800	100,600	71,800	100,600	43,400
Allowance for loan losses evaluated for impairment, Collectively	1,286,704	1,236,411	1,286,704	1,236,411	1,227,366
Allowance for loan losses	1,358,504	1,337,011	1,358,504	1,337,011	1,270,766
Loans evaluated for impairment, Individually	1,345,820	1,374,851	1,345,820	1,374,851	721,241
Loans evaluated for impairment, Collectively	160,764,096	167,992,858	160,764,096	167,992,858	163,244,883
Total Loans	162,109,916	169,367,709	162,109,916	169,367,709	163,966,124
Residential Real Estate Jr Lien
Allowance for loan losses, Beginning balance	321,407	348,738	321,099	366,471	366,471
Charge-offs	0	0	(20,199)	0	(51,389)
Recoveries	60	60	120	120	240
Provisions (credit)	30,658	(54,184)	51,105	(71,977)	5,777
Allowance for loan losses, Ending balance	352,125	294,614	352,125	294,614	321,099
Allowance for loan losses evaluated for impairment, Individually	47,500	13,100	47,500	13,100	0
Allowance for loan losses evaluated for impairment, Collectively	304,625	281,514	304,625	281,514	321,099
Allowance for loan losses	352,125	294,614	352,125	294,614	321,099
Loans evaluated for impairment, Individually	238,623	370,775	238,623	370,775	328,889
Loans evaluated for impairment, Collectively	43,577,929	44,193,251	43,577,929	44,193,251	44,472,594
Total Loans	43,816,552	44,564,026	43,816,552	44,564,026	44,801,483
Consumer
Allowance for loan losses, Beginning balance	86,084	100,386	118,819	105,279	105,279
Charge-offs	(22,816)	(14,241)	(28,105)	(65,769)	(112,376)
Recoveries	6,313	15,923	18,201	22,249	33,766
Provisions (credit)	(5,768)	(17,953)	(45,102)	22,356	92,150
Allowance for loan losses, Ending balance	63,813	84,115	63,813	84,115	118,819
Allowance for loan losses evaluated for impairment, Individually	0	0	0	0	0
Allowance for loan losses evaluated for impairment, Collectively	63,813	84,115	63,813	84,115	118,819
Allowance for loan losses	63,813	84,115	63,813	84,115	118,819
Loans evaluated for impairment, Individually	0	0	0	0	0
Loans evaluated for impairment, Collectively	7,429,236	7,883,342	7,429,236	7,883,342	8,035,298
Total Loans	7,429,236	7,883,342	7,429,236	7,883,342	8,035,298
Unallocated
Allowance for loan losses, Beginning balance	197,939	262,619	236,535	271,201	271,201
Charge-offs	0	0	0	0	0
Recoveries	0	0	0	0	0
Provisions (credit)	257,178	55,303	218,582	46,721	(34,666)
Allowance for loan losses, Ending balance	455,117	317,922	455,117	317,922	236,535
Allowance for loan losses evaluated for impairment, Individually	0	0	0	0	0
Allowance for loan losses evaluated for impairment, Collectively	455,117	317,922	455,117	317,922	236,535
Allowance for loan losses	$ 455,117	$ 317,922	$ 455,117	$ 317,922	$ 236,535

5. Loans, Allowance for Loan 33

5. Loans, Allowance for Loan Losses and Credit Quality (Details 3) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Recorded Investment With no related allowance recorded	$ 3,443,818	$ 3,258,506	$ 3,443,818	$ 3,258,506	$ 3,052,109
Recorded Investment With an allowance recorded	580,552	1,279,191	580,552	1,279,191	319,619
Recorded Investment	4,024,370	4,537,697	4,024,370	4,537,697	3,371,728
Unpaid Principal Balance With no related allowance recorded	3,886,231	3,537,174	3,886,231	3,537,174	3,380,471
Unpaid Principal Balance With an allowance recorded	663,228	1,335,560	663,228	1,335,560	365,689
Unpaid Principal Balance allowance recorded	4,549,459	4,872,734	4,549,459	4,872,734	3,746,160
Related Allowance With no related allowance recorded	0	0	0	0	0
Related Allowance With an allowance recorded	189,300	231,900	189,300	231,900	77,800
Related Allowance recorded	189,300	231,900	189,300	231,900	77,800
Average Recorded Investment With no related allowance recorded	3,432,546	3,026,045	1,983,441	2,943,338	3,012,310
Average Recorded Investment With an allowance recorded	549,200	976,157	283,603	1,094,203	883,373
Average Recorded Investment Allowance recorded	3,981,746	4,002,202	2,267,044	4,037,541	3,895,683
Commercial and industrial
Recorded Investment With no related allowance recorded	502,237	819,016	502,237	819,016	390,605
Recorded Investment With an allowance recorded	91,940	414,869	91,940	414,869	0
Unpaid Principal Balance With no related allowance recorded	560,173	884,377	560,173	884,377	424,598
Unpaid Principal Balance With an allowance recorded	94,826	415,759	94,826	415,759	0
Related Allowance With no related allowance recorded	0	0	0	0	0
Related Allowance With an allowance recorded	70,000	99,300	70,000	99,300	0
Average Recorded Investment With no related allowance recorded	555,057	552,178	300,144	472,955	507,232
Average Recorded Investment With an allowance recorded	93,398	238,953	37,359	179,031	158,690
Commercial Real Estate
Recorded Investment With no related allowance recorded	1,845,751	1,337,570	1,845,751	1,337,570	1,726,482
Recorded Investment With an allowance recorded	0	220,616	0	220,616	204,511
Unpaid Principal Balance With no related allowance recorded	1,856,008	1,431,199	1,856,008	1,431,199	1,689,772
Unpaid Principal Balance With an allowance recorded	0	231,221	0	231,221	220,981
Related Allowance With no related allowance recorded	0	0	0	0	0
Related Allowance With an allowance recorded	0	18,900	0	18,900	34,400
Average Recorded Investment With no related allowance recorded	1,976,769	1,248,510	1,136,004	1,147,288	1,294,710
Average Recorded Investment With an allowance recorded	0	165,405	40,902	257,481	280,104
Residential real estate - 1st lien
Recorded Investment With no related allowance recorded	1,095,830	832,008	1,095,830	832,008	606,133
Recorded Investment With an allowance recorded	249,989	542,843	249,989	542,843	115,108
Unpaid Principal Balance With no related allowance recorded	1,470,050	905,092	1,470,050	905,092	875,841
Unpaid Principal Balance With an allowance recorded	284,200	579,363	284,200	579,363	144,708
Related Allowance With no related allowance recorded	0	0	0	0	0
Related Allowance With an allowance recorded	71,800	100,600	71,800	100,600	43,400
Average Recorded Investment With no related allowance recorded	780,255	1,042,268	433,329	1,146,323	971,542
Average Recorded Investment With an allowance recorded	302,937	394,924	144,196	408,070	294,807
Residential real estate - Jr lien
Recorded Investment With no related allowance recorded	0	269,912	0	269,912	328,889
Recorded Investment With an allowance recorded	238,623	100,863	238,623	100,863	0
Unpaid Principal Balance With no related allowance recorded	0	316,506	0	316,506	390,260
Unpaid Principal Balance With an allowance recorded	284,202	109,217	284,202	109,217	0
Related Allowance With no related allowance recorded	0	0	0	0	0
Related Allowance With an allowance recorded	47,500	13,100	47,500	13,100	0
Average Recorded Investment With no related allowance recorded	120,465	183,089	113,964	176,772	238,826
Average Recorded Investment With an allowance recorded	$ 152,865	$ 176,875	$ 61,146	$ 249,621	$ 149,772

5. Loans, Allowance for Loan 34

5. Loans, Allowance for Loan Losses and Credit Quality (Details 4) - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Group A	$ 441,184,376	$ 431,936,170	$ 433,591,328
Group B	7,731,890	6,077,782	7,062,753
Group C	10,565,784	9,791,003	9,939,223
Total Loans	459,482,050	447,804,955	450,593,304
Commercial and industrial
Group A	70,152,385	61,201,586	60,373,539
Group B	2,451,677	2,316,908	2,730,275
Group C	957,063	871,726	1,371,570
Total Loans	73,561,125	64,390,220	64,475,384
Commercial Real Estate
Group A	162,191,020	157,767,641	155,124,213
Group B	4,819,930	3,280,904	3,586,566
Group C	5,554,271	5,563,285	5,592,064
Total Loans	172,565,221	166,611,830	164,302,843
Residential real estate - 1st lien
Group A	158,224,270	160,912,689	166,345,054
Group B	231,391	228,148	598,381
Group C	3,654,255	2,825,287	2,424,274
Total Loans	162,109,916	163,966,124	169,367,709
Residential real estate - Jr lien
Group A	43,196,452	44,018,956	43,883,107
Group B	228,892	251,822	147,531
Group C	391,208	530,705	533,388
Total Loans	43,816,552	44,801,483	44,564,026
Consumer
Group A	7,420,249	8,035,298	7,865,415
Group B	0	0	0
Group C	8,987	0	17,927
Total Loans	$ 7,429,236	$ 8,035,298	$ 7,883,342

5. Loans, Allowance for Loan 35

5. Loans, Allowance for Loan Losses and Credit Quality (Details 5)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015USD ($)integer	Jun. 30, 2014USD ($)integer	Jun. 30, 2015USD ($)integer	Jun. 30, 2014USD ($)integer	Dec. 31, 2014USD ($)integer
Number of Contracts modified as TDRs | integer	6		13		12
Pre-Modification Outstanding Recorded Investment	$ 817,316		$ 1,279,390		$ 1,596,532
Post- Modification Outstanding Recorded Investment	$ 859,025		$ 1,341,603		$ 1,634,159
Residential Real Estate - 1st Lien
Number of Contracts modified as TDRs | integer				6
Pre-Modification Outstanding Recorded Investment				$ 480,899
Post- Modification Outstanding Recorded Investment				$ 510,737
Commercial and industrial
Number of Contracts modified as TDRs | integer	3		3
Pre-Modification Outstanding Recorded Investment	$ 198,999		$ 198,999
Post- Modification Outstanding Recorded Investment	$ 198,829		$ 198,829
Residential Real Estate Jr Lien
Number of Contracts modified as TDRs | integer	0
Pre-Modification Outstanding Recorded Investment	$ 0
Post- Modification Outstanding Recorded Investment	$ 0
Residential real estate - 1st lien
Number of Contracts modified as TDRs | integer	3	3	8
Pre-Modification Outstanding Recorded Investment	$ 618,317	$ 218,330	$ 962,646
Post- Modification Outstanding Recorded Investment	$ 660,196	$ 237,090	$ 1,021,102
Residential real estate - Jr lien
Number of Contracts modified as TDRs | integer			2
Pre-Modification Outstanding Recorded Investment			$ 117,745
Post- Modification Outstanding Recorded Investment			$ 121,672
Commercial Real Estate
Number of Contracts modified as TDRs | integer					1
Pre-Modification Outstanding Recorded Investment					$ 301,823
Post- Modification Outstanding Recorded Investment					$ 301,823
Residential Real Estate - 1st Lien
Number of Contracts modified as TDRs | integer					11
Pre-Modification Outstanding Recorded Investment					$ 1,294,709
Post- Modification Outstanding Recorded Investment					$ 1,332,336

5. Loans, Allowance for Loan 36

5. Loans, Allowance for Loan Losses and Credit Quality (Details 6)	6 Months Ended		12 Months Ended
	Jun. 30, 2015USD ($)integer	Jun. 30, 2014USD ($)integer	Dec. 31, 2014USD ($)integer
Number of Contracts	4
Recorded Investment | $	$ 340,904
Commercial
Number of Contracts	1
Recorded Investment | $	$ 82,336
Residential Real Estate - 1st Lien
Number of Contracts	3	5	2
Recorded Investment | $	$ 258,568	$ 441,679	$ 137,830

5. Loans, Allowance for Loan 37

5. Loans, Allowance for Loan Losses and Credit Quality (Details Narrative) - USD ($)	Jun. 30, 2015	Jun. 30, 2014
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Allowance related to TDRs	$ 104,600	$ 88,300
Residential mortgage loans in process of foreclosure	403,526
Commitment to lend additional funds	$ 450,000

6. Goodwill and Other Intangi38

6. Goodwill and Other Intangible Assets (Details)	Jun. 30, 2015USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2,015	$ 136,345
2,016	272,695
2,017	272,691
Total remaining core deposit intangible	$ 681,731

6. Goodwill and Other Intangi39

6. Goodwill and Other Intangible Assets (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Accumulated amortization expense	$ 3,479,269	$ 3,206,569
Amortization expense for the core deposit intangible	$ 136,350	$ 136,350

7. Fair Value (Details)

7. Fair Value (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Fair Value Level 1
Assets: (market approach)
U.S. GSE debt securities	$ 0	$ 0	$ 0
U.S. Government securities	3,002,969	4,000,937	5,533,006
Agency MBS	0	0	0
Other investments	0
Total	3,002,969	4,000,937	5,533,006
Fair Value Level 2
Assets: (market approach)
U.S. GSE debt securities	14,908,104	19,907,150	15,958,061
U.S. Government securities	0	0	0
Agency MBS	11,559,773	9,038,807	9,707,891
Other investments	1,733,188
Total	$ 28,201,065	$ 28,945,957	$ 25,665,952

7. Fair Value (Details 1)

7. Fair Value (Details 1) - Fair Value Level 2 - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Assets: (market approach)
Residential mortgage servicing rights	$ 1,298,418	$ 1,311,965	$ 1,324,713
Impaired loans, net of related allowance	391,252	241,819	1,047,291
OREO	$ 1,122,500	$ 1,238,320	$ 916,820

7. Fair Value (Details 2)

7. Fair Value (Details 2) - USD ($)	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Fair Value Level 1
Financial assets: (Dollars in Thousands)
Cash and cash equivalents	$ 19,454	$ 24,962	$ 16,343
Securities held-to-maturity	0	0	0
Securities available-for-sale	3,003	4,001	5,533
Restricted equity securities	0	0	0
Loans and loans held-for-sale
Commercial & Industrial	0	0	0
Commercial real estate	0	0	0
Residential real estate - 1st lien	0	0	0
Residential real estate - Jr. lien	0	0	0
Consumer	0	0	0
Mortgage servicing rights	0	0	0
Accrued interest receivable	0	0	0
Deposits
Deposits, Other deposits	0	0	0
Deposits, Brokered deposits	0	0	0
Federal funds purchased and short-term borrowings	0		0
Long-term borrowings			0
Repurchase agreements	0	0	0
Capital lease obligations	0	0	0
Subordinated debentures	0	0	0
Accrued interest payable	0	0	0
Fair Value Level 2
Financial assets: (Dollars in Thousands)
Cash and cash equivalents	0	0	0
Securities held-to-maturity	26,055	42,234	23,373
Securities available-for-sale	28,201	28,946	25,666
Restricted equity securities	3,332	3,332	3,332
Loans and loans held-for-sale
Commercial & Industrial	524	391	1,135
Commercial real estate	1,846	1,897	1,539
Residential real estate - 1st lien	1,274	678	1,274
Residential real estate - Jr. lien	191	329	358
Consumer	0	0	0
Mortgage servicing rights	1,496	1,528	1,523
Accrued interest receivable	1,578	1,698	1,445
Deposits
Deposits, Other deposits	432,533	473,100	428,924
Deposits, Brokered deposits	22,426	20,054	26,884
Federal funds purchased and short-term borrowings	30,000		13,915
Long-term borrowings			6,000
Repurchase agreements	24,403	28,543	23,583
Capital lease obligations	600	640	677
Subordinated debentures	12,856	12,867	12,869
Accrued interest payable	47	64	70
Fair Value Level 3
Financial assets: (Dollars in Thousands)
Cash and cash equivalents	0	0	0
Securities held-to-maturity	0	0	0
Securities available-for-sale	0	0	0
Restricted equity securities	0	0	0
Loans and loans held-for-sale
Commercial & Industrial	73,638	64,800	64,023
Commercial real estate	174,080	167,961	165,635
Residential real estate - 1st lien	164,014	166,171	172,278
Residential real estate - Jr. lien	44,160	45,113	44,839
Consumer	7,695	8,315	8,167
Mortgage servicing rights	0	0	0
Accrued interest receivable	0	0	0
Deposits
Deposits, Other deposits	0	0	0
Deposits, Brokered deposits	0	0	0
Federal funds purchased and short-term borrowings	0		0
Long-term borrowings			0
Repurchase agreements	0	0	0
Capital lease obligations	0	0	0
Subordinated debentures	0	0	0
Accrued interest payable	0	0	0
Carrying Amount
Financial assets: (Dollars in Thousands)
Cash and cash equivalents	19,454	24,962	16,343
Securities held-to-maturity	25,739	41,811	22,967
Securities available-for-sale	31,204	32,947	31,199
Restricted equity securities	3,332	3,332	3,332
Loans and loans held-for-sale
Commercial & Industrial	72,607	63,709	63,742
Commercial real estate	170,410	164,212	162,031
Residential real estate - 1st lien	160,951	162,635	168,582
Residential real estate - Jr. lien	43,421	44,457	44,238
Consumer	7,358	7,912	7,793
Mortgage servicing rights	1,298	1,312	1,325
Accrued interest receivable	1,578	1,698	1,445
Deposits
Deposits, Other deposits	432,657	472,966	428,186
Deposits, Brokered deposits	22,410	20,053	26,879
Federal funds purchased and short-term borrowings	30,000		13,915
Long-term borrowings			6,000
Repurchase agreements	24,403	28,543	23,583
Capital lease obligations	600	640	677
Subordinated debentures	12,887	12,887	12,887
Accrued interest payable	47	64	70
Fair Value
Financial assets: (Dollars in Thousands)
Cash and cash equivalents	19,454	24,962	16,343
Securities held-to-maturity	26,055	42,234	23,373
Securities available-for-sale	31,204	32,947	31,199
Restricted equity securities	3,332	3,332	3,332
Loans and loans held-for-sale
Commercial & Industrial	74,162	65,191	65,158
Commercial real estate	175,926	169,858	167,174
Residential real estate - 1st lien	165,288	166,849	173,552
Residential real estate - Jr. lien	44,351	45,442	45,197
Consumer	7,695	8,315	8,167
Mortgage servicing rights	1,496	1,528	1,523
Accrued interest receivable	1,578	1,698	1,445
Deposits
Deposits, Other deposits	432,533	473,100	428,924
Deposits, Brokered deposits	22,426	20,054	26,884
Federal funds purchased and short-term borrowings	30,000		13,915
Long-term borrowings			6,000
Repurchase agreements	24,403	28,543	23,583
Capital lease obligations	600	640	677
Subordinated debentures	12,856	12,867	12,869
Accrued interest payable	$ 47	$ 64	$ 70

8. Loan Servicing (Details)

8. Loan Servicing (Details) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Transfers and Servicing of Financial Assets [Abstract]
Balance at beginning of year	$ 1,311,965	$ 1,329,079	$ 1,329,079
Mortgage servicing rights capitalized	112,687	112,601	209,713
Mortgage servicing rights amortized	(128,791)	(122,727)	(250,955)
Change in valuation allowance	2,557	5,760	24,128
Balance at end of period	$ 1,298,418	$ 1,324,713	$ 1,311,965

10. Subsequent Event (Details)

10. Subsequent Event (Details)	Jun. 30, 2015USD ($)
Subsequent Event Details
Dividend accrued	$ 791,903