Community Bancorp (CMTV) 10-K 25 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Mar. 16, 2016	Jun. 30, 2015
Document And Entity Information
Entity Registrant Name	Community Bancorp /VT
Entity Central Index Key	718,413
Document Type	10-K
Document Period End Date	Dec. 31, 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?	No
Entity Filer Category	Smaller Reporting Company
Entity Public Float			$ 66,486,258
Entity Common Stock, Shares Outstanding		4,994,888
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2,015

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Assets
Cash and due from banks	$ 9,479,353	$ 11,935,993
Federal funds sold and overnight deposits	19,372,537	13,026,181
Total cash and cash equivalents	28,851,890	24,962,174
Securities held-to-maturity (fair value $44,143,000 at December 31, 2015 and $42,234,000 at December 31, 2014)	43,354,419	41,810,945
Securities available-for-sale	26,470,400	32,946,894
Restricted equity securities, at cost	2,441,650	3,332,450
Loans held-for-sale	1,199,400	26,250
Loans	458,119,429	447,804,955
Allowance for loan losses	(5,011,878)	(4,905,874)
Deferred net loan costs	316,491	303,394
Net loans	453,424,042	443,202,475
Bank premises and equipment, net	11,460,207	11,488,948
Accrued interest receivable	1,633,213	1,698,448
Bank owned life insurance (BOLI)	4,520,486	4,413,574
Core deposit intangible	545,386	818,081
Goodwill	11,574,269	11,574,269
Other real estate owned (OREO)	262,000	1,238,320
Other assets	10,397,347	9,198,216
Total assets	596,134,709	586,711,044
Deposits:
Demand, non-interest bearing	93,525,762	88,758,469
Interest-bearing transaction accounts	130,735,094	125,388,872
Money market funds	81,930,888	88,820,124
Savings	81,731,290	77,029,722
Time deposits, $250,000 and over	9,431,437	10,584,468
Other time deposits	98,131,091	102,437,808
Total deposits	495,485,562	493,019,463
Federal funds purchased and other borrowed funds	10,000,000	0
Repurchase agreements	22,073,238	28,542,961
Capital lease obligations	558,365	639,544
Junior subordinated debentures	12,887,000	12,887,000
Accrued interest and other liabilities	3,715,888	2,626,874
Total liabilities	544,720,053	537,715,842
Shareholders' Equity
Preferred stock, 1,000,000 shares authorized, 25 shares issued and outstanding ($100,000 liquidation value)	2,500,000	2,500,000
Common stock - $2.50 par value; 15,000,000 shares authorized, and 5,204,517 and 5,142,475 shares issued at December 31, 2015 and 2014, respectively (including 15,430 and 16,642 shares issued February 1, 2016 and 2015, respectively)	13,011,293	12,856,188
Additional paid-in capital	30,089,438	29,359,300
Retained earnings	8,482,096	6,909,934
Accumulated other comprehensive loss	(45,394)	(7,443)
Less: treasury stock, at cost; 210,101 shares at December 31, 2015 and 2014	(2,622,777)	(2,622,777)
Total shareholders' equity	51,414,656	48,995,202
Total liabilities and shareholders' equity	$ 596,134,709	$ 586,711,044

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Feb. 01, 2016	Dec. 31, 2015	Feb. 01, 2015	Dec. 31, 2014
Assets
Securities held-to-maturity, fair value		$ 44,143,000		$ 42,234,000
Shareholder's Equity
Preferred stock, shares authorized (in shares)		1,000,000		1,000,000
Preferred stock, shares issued (in shares)		25		25
Preferred stock, shares outstanding (in shares)		25		25
Preferred stock liquidation value		$ 100,000		$ 100,000
Common stock par value (in dollars per share)		$ 2.50		$ 2.50
Common stock, shares authorized (in shares)		15,000,000		15,000,000
Common stock, shares issued (in shares)	15,430	5,204,517	16,642	5,142,475
Treasury stock (in shares)		210,101		210,101

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Interest income
Interest and fees on loans	$ 21,717,394	$ 21,423,462
Interest on debt securities
Taxable	441,808	343,554
Tax-exempt	1,113,250	1,079,093
Dividends	116,943	90,784
Interest on federal funds sold and overnight deposits	17,294	13,384
Total interest income	23,406,689	22,950,277
Interest expense
Interest on deposits	2,078,239	2,515,078
Interest on federal funds purchased and other borrowed funds	88,483	76,250
Interest on repurchase agreements	69,496	62,405
Interest on junior subordinated debentures	409,432	402,011
Total interest expense	2,645,650	3,055,744
Net interest income	20,761,039	19,894,533
Provision for loan losses	510,000	540,000
Net interest income after provision for loan losses	20,251,039	19,354,533
Non-interest income
Service fees	2,565,079	2,624,792
Income from sold loans	947,325	977,702
Other income from loans	738,454	593,093
Net realized gain on sale of securities available-for-sale	17,502	27,838
Other income	881,795	918,326
Total non-interest income	5,150,155	5,141,751
Non-interest expense
Salaries and wages	6,888,352	6,475,000
Employee benefits	2,576,772	2,257,354
Occupancy expenses, net	2,576,496	2,466,714
Other expenses	6,769,353	6,386,912
Total non-interest expense	18,810,973	17,585,980
Income before income taxes	6,590,221	6,910,304
Income tax expense	1,764,630	1,785,396
Net income	$ 4,825,591	$ 5,124,908
Earnings per common share	$ 0.96	$ 1.03
Weighted average number of common shares used in computing earnings per share	4,961,972	4,897,281
Dividends declared per common share	$ 0.64	$ 0.64
Book value per common share outstanding	$ 9.79	$ 9.43

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 4,825,591	$ 5,124,908
Other comprehensive (loss) income, net of tax:
Unrealized holding (loss) gain on available-for-sale securities arising during the period	(40,000)	88,478
Reclassification adjustment for gain realized in income	(17,502)	(27,838)
Unrealized (loss) gain during the year	(57,502)	60,640
Tax effect	19,551	(20,617)
Other comprehensive (loss) income, net of tax	(37,951)	40,023
Total comprehensive income	$ 4,787,640	$ 5,164,931

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($)	Common Stock	Preferred Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Total
Beginning Balance, Shares at Dec. 31, 2013	4,868,606	25
Beginning Balance, Amount at Dec. 31, 2013	$ 12,696,768	$ 2,500,000	$ 28,612,308	$ 4,997,144	$ (47,466)	$ (2,622,777)	$ 46,135,977
Comprehensive income
Net income	0	0	0	5,124,908	0	0	5,124,908
Other comprehensive income (loss)	0	0	0	0	40,023	0	40,023
Total comprehensive income (loss)							5,164,931
Cash dividends declared - common stock	0	0	0	(3,130,868)	0	0	(3,130,868)
Cash dividends declared - preferred stock	$ 0	$ 0	0	(81,250)	0	0	(81,250)
Issuance of common stock, shares	63,768	0
Issuance of common stock, amount	$ 159,420	$ 0	746,992	0	0	0	906,412
Ending Balance, Shares at Dec. 31, 2014	4,932,374	25
Ending Balance, Amount at Dec. 31, 2014	$ 12,856,188	$ 2,500,000	29,359,300	6,909,934	(7,443)	(2,622,777)	48,995,202
Comprehensive income
Net income	0	0	0	4,825,591	0	0	4,825,591
Other comprehensive income (loss)	0	0	0	0	(37,951)	0	(37,951)
Total comprehensive income (loss)							4,787,640
Cash dividends declared - common stock	0	0	0	(3,172,179)	0	0	(3,172,179)
Cash dividends declared - preferred stock	$ 0	$ 0	0	(81,250)	0	0	(81,250)
Issuance of common stock, shares	62,042	0
Issuance of common stock, amount	$ 155,105	$ 0	730,138	0	0	0	885,243
Ending Balance, Shares at Dec. 31, 2015	4,994,416	25
Ending Balance, Amount at Dec. 31, 2015	$ 13,011,293	$ 2,500,000	$ 30,089,438	$ 8,482,096	$ (45,394)	$ (2,622,777)	$ 51,414,656

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Cash Flows from Operating Activities:
Net income	$ 4,825,591	$ 5,124,908
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization, bank premises and equipment	969,661	969,691
Provision for loan losses	510,000	540,000
Deferred income tax	(172,374)	755,139
Gain on sale of securities available-for-sale	(17,502)	(27,838)
Gain on sale of loans	(424,240)	(460,505)
Loss on sale of bank premises and equipment	130,603	6,610
Loss on sale of OREO	20,058	1,840
Income from CFSG Partners	(361,044)	(272,821)
Amortization of bond premium, net	148,526	239,580
Write down of OREO	75,820	10,000
Proceeds from sales of loans held for sale	24,397,411	21,346,042
Originations of loans held for sale	(25,146,321)	(20,702,287)
Increase in taxes payable	54,669	784,222
Decrease in interest receivable	65,235	79,857
Decrease in mortgage servicing rights	18,886	17,114
(Increase) decrease in other assets	(309,552)	345,847
Increase in cash surrender value of BOLI	(106,912)	(110,267)
Amortization of core deposit intangible	272,695	272,700
Amortization of limited partnerships	565,335	591,122
Increase in deferred net loan costs	(13,097)	(2,965)
Decrease in interest payable	(11,038)	(11,632)
Increase (decrease) in accrued expenses	23,407	(36,802)
Increase (decrease) in other liabilities	76,798	(116,873)
Net cash provided by operating activities	5,592,615	9,342,682
Investments - held-to-maturity
Maturities and pay downs	40,831,786	41,212,607
Purchases	(42,375,260)	(45,086,640)
Investments - available-for-sale - Maturities, calls, pay downs and sales	15,522,796	19,836,586
Purchases	(9,234,828)	(17,745,980)
Proceeds from redemption of restricted equity securities	890,800	300,400
Increase in limited partnership contributions payable	975,000	0
Investments in limited partnerships	(975,500)	0
Increase in loans, net	(10,903,013)	(8,873,368)
Capital expenditures net of proceeds from sales of bank premises and equipment	(1,071,523)	(741,781)
Proceeds from sales of OREO	966,615	288,865
Recoveries of loans charged off	98,370	54,798
Net cash used in investing activities	(5,274,757)	(10,754,513)
Cash Flows from Financing Activities:
Net increase in demand and interest-bearing transaction accounts	10,113,515	5,413,135
Net (decrease) increase in money market and savings accounts	(2,187,668)	13,983,022
Net decrease in time deposits	(5,459,748)	(7,929,263)
Net decrease in repurchase agreements	(6,469,723)	(1,101,654)
Net increase in short-term borrowings	10,000,000	0
Proceeds from long-term borrowings	0	6,000,000
Repayments on long-term borrowings	0	(6,000,000)
Decrease in capital lease obligations	(81,179)	(71,498)
Dividends paid on preferred stock	(81,250)	(81,250)
Dividends paid on common stock	(2,262,089)	(2,168,476)
Net cash provided by financing activities	3,571,858	8,044,016
Net increase in cash and cash equivalents	3,889,716	6,632,185
Cash and cash equivalents:
Beginning	24,962,174	18,329,989
Ending	28,851,890	24,962,174
Supplemental Schedule of Cash Paid (Received) During the Period:
Interest	2,656,688	3,067,376
Income taxes, net of refunds	1,317,000	(345,087)
Supplemental Schedule of Noncash Investing and Financing Activities:
Unrealized (loss) gain on securities available-for-sale during the year	(57,502)	60,640
Loans transferred to OREO	86,173	433,500
Investment in limited partnership, not yet paid	975,000	0
Common Shares Dividends Paid:
Dividends declared	3,172,179	3,130,868
Increase in dividends payable attributable to dividends declared	(24,847)	(55,980)
Dividends reinvested	(885,243)	(906,412)
Total	$ 2,262,089	$ 2,168,476

1. Significant Accounting Polic

1. Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Note 1. Significant Accounting Policies	The accounting policies of Community Bancorp. and Subsidiary ("Company") are in conformity, in all material respects, with accounting principles generally accepted in the United States of America (“US GAAP”) and general practices within the banking industry. The following is a description of the Company’s significant accounting policies. Basis of presentation and consolidation The consolidated financial statements include the accounts of Community Bancorp. and its wholly-owned subsidiary, Community National Bank ("Bank"). All significant intercompany accounts and transactions have been eliminated. The Company is considered a “smaller reporting company” under applicable disclosure rules of the Securities and Exchange Commission and accordingly, has elected to provide its audited statements of income, comprehensive income, cash flows and changes in shareholders’ equity for a two year, rather than a three year, period. Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 810, “Consolidation”, in part, addresses limited purpose trusts formed to issue trust preferred securities. It also establishes the criteria used to identify variable interest entities (“VIE”) and to determine whether or not to consolidate a VIE. In general, ASC Topic 810 provides that the enterprise with the controlling financial interest, known as the primary beneficiary, consolidates the VIE. In 2007, the Company formed CMTV Statutory Trust I for the purposes of issuing trust preferred securities to unaffiliated parties and investing the proceeds from the issuance thereof and the common securities of the trust in junior subordinated debentures issued by the Company. The Company is not the primary beneficiary of CMTV Statutory Trust I; accordingly, the trust is not consolidated with the Company for financial reporting purposes. CMTV Statutory Trust I is considered an affiliate of the Company (see Note 10). In December 2011, the Company formed a limited liability company (“LLC”) to facilitate its purchase of federal New Markets Tax Credits (“NMTC”) under an investment structure designed by a local community development entity. Management has evaluated the Company’s interest in the LLC under the ASC guidance relating to VIEs in light of the overall structure and purpose of the NMTC financing transaction and has concluded that the LLC should not be consolidated in the Company’s financial statements for financial reporting purposes, as the Company is not the primary beneficiary of the NMTC structure, does not exercise control within the overall structure and is not obligated to absorb a majority of any losses of the NMTC structure (see Note 7). Nature of operations The Company provides a variety of deposit and lending services to individuals, municipalities, and business customers through its branches, ATMs and telephone and internet banking capabilities in northern and central Vermont, which is primarily a small business and agricultural area. The Company's primary deposit products are checking and savings accounts and certificates of deposit. Its primary lending products are commercial, real estate, municipal and consumer loans. Concentration of risk The Company's operations are affected by various risk factors, including interest rate risk, credit risk, and risk from geographic concentration of its deposit taking and lending activities. Management attempts to manage interest rate risk through various asset/liability management techniques designed to match maturities and repricing of assets and liabilities. Loan policies and administration are designed to provide assurance that loans will only be granted to creditworthy borrowers, although credit losses are expected to occur because of subjective factors and factors beyond the control of the Company. While the Company has a diversified loan portfolio by loan type, most of its lending activities are conducted within the geographic area where its banking offices are located. As a result, the Company and its borrowers may be especially vulnerable to the consequences of changes in the local economy in northern and central Vermont. In addition, a substantial portion of the Company's loans are secured by real estate, which is susceptible to a decline in value, especially during times of adverse economic conditions. Use of estimates The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates and assumptions involve inherent uncertainties. Accordingly, actual results could differ from those estimates and those differences could be material. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses and the valuation of OREO. In connection with evaluating loans for impairment or assigning the carrying value of OREO, management generally obtains independent evaluations or appraisals for significant properties. While the allowance for loan losses and the carrying value of OREO are determined using management's best estimate of probable loan and OREO losses, respectively, as of the balance sheet date, the ultimate collectibility of a substantial portion of the Company's loan portfolio and the recovery of a substantial portion of the fair value of OREO are susceptible to uncertainties and changes in a number of factors, especially local real estate market conditions. The amount of the change that is reasonably possible cannot be estimated. While management uses available information to recognize losses on loans and OREO, future additions to the allowance or write-downs of OREO may be necessary based on changes in local economic conditions or other relevant factors. In addition, regulatory agencies, as an integral part of their examination process, periodically review the Company's allowance for losses on loans and the carrying value of OREO. Such agencies may require the Company to recognize additions to the allowance or write-downs of OREO based on their judgment about information available to them at the time of their examination. Mortgage servicing rights associated with loans originated and sold in the secondary market, where servicing is retained, are capitalized and included in other assets in the consolidated balance sheets. Mortgage servicing rights are amortized against non-interest income in proportion to, and over the period of, estimated future net servicing income of the underlying loans. The value of capitalized servicing rights represents the present estimated value of the future servicing fees arising from the right to service loans for third parties. The carrying value of the mortgage servicing rights is periodically reviewed for impairment based on a determination of estimated fair value as compared to amortized cost, and impairment, if any, is recognized through a valuation allowance and is recorded as a write down. Critical accounting policies for mortgage servicing rights relate to the initial valuation and subsequent impairment tests. The methodology used to determine the valuation of mortgage servicing rights requires the development and use of a number of estimates, including anticipated principal amortization and prepayments. Events that may significantly affect the estimates used are changes in interest rates and the payment performance of the underlying loans. Management uses a third party consultant to assist in analyzing the fair value of the Company’s mortgage servicing rights. Management evaluates securities for other-than-temporary impairment on at least a quarterly basis, and more frequently when economic or market conditions warrant such evaluation. Consideration is given to various factors, including the length of time and the extent to which the fair value has been less than cost; the nature of the issuer and its financial condition and near-term prospects; and the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. The evaluation of these factors is a subjective process and involves estimates and assumptions about matters that are inherently uncertain. Should actual factors and conditions differ materially from those used by management, the actual realization of gains or losses on investment securities could differ materially from the amounts recorded in the financial statements. Management utilizes numerous techniques to estimate the carrying value of various other assets held by the Company, including, but not limited to, bank premises and equipment and deferred taxes. The assumptions considered in making these estimates are based on historical experience and on various other factors that are believed by management to be reasonable under the circumstances. Management acknowledges that the use of different estimates or assumptions could produce different estimates of carrying values. Accounting for a business combination that was completed prior to 2009 requires the application of the purchase method of accounting. Under the purchase method, the Company was required to record the assets and liabilities acquired through the LyndonBank merger in 2007 at fair market value, with the excess of the purchase price over the fair value of the net assets recorded as goodwill and evaluated annually for impairment. Management uses various assumptions in evaluating goodwill for impairment. Presentation of cash flows For purposes of presentation in the consolidated statements of cash flows, cash and cash equivalents includes cash on hand, amounts due from banks (including cash items in process of clearing), federal funds sold (generally purchased and sold for one day periods) and overnight deposits. Investment securities Securities the Company has the positive intent and ability to hold to maturity are classified as held-to-maturity and reported at amortized cost. Debt and equity securities not classified as held-to-maturity are classified as available-for-sale. Investments classified as available-for-sale are carried at fair value, with unrealized gains and losses, net of tax and reclassification adjustments, reflected as a net amount in the shareholders’ equity section of the consolidated balance sheets and in the statements of changes in shareholders’ equity. Investment securities transactions are accounted for on a trade date basis. The specific identification method is used to determine realized gains and losses on sales of securities available-for-sale. Premiums and discounts are recognized in interest income using the interest method over the period to maturity or call date. The Company does not hold any securities purchased for the purpose of selling in the near term and classified as trading. Declines in the fair value of individual equity securities that are deemed to be other than temporary are reflected in earnings when identified. For individual debt securities where the Company does not intend to sell the security and it is not more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis, the other-than-temporary decline in the fair value of the debt security related to (1) credit loss is recognized in earnings and (2) other factors is recognized in other comprehensive income or loss. Credit loss is deemed to exist if the present value of expected future cash flows using the interest rates at acquisition is less than the amortized cost basis of the debt security. For individual debt securities where the Company intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost, the other-than-temporary impairment is recognized in earnings equal to the entire difference between the security’s cost basis and its fair value at the balance sheet date. Other investments In December 2011, the Company made an equity investment in a NMTC financing structure (see Note 7). The Company’s investment in the NMTC is amortized using the effective yield method. From time to time, the Company acquires partnership interests in limited partnerships for low income housing projects. New investments in limited partnerships are amortized using the proportional amortization method. All investments made before January 1, 2015 are amortized using the effective yield method. The Company has a one-third ownership interest in Community Financial Services Group, LLC (“CFSG”), a non-depository trust company (see Note 7). The Company's investment in CFSG is accounted for under the equity method of accounting. Restricted equity securities Restricted equity securities comprise Federal Reserve Bank stock and Federal Home Loan Bank stock. These securities are carried at cost. As a member of the Federal Reserve Bank of Boston (“FRBB”), the Company is required to invest in FRBB stock in an amount equal to 6% of the Bank's capital stock and surplus. As a member of the Federal Home Loan Bank of Boston (“FHLBB”), the Company is required to invest in $100 par value stock of the FHLBB in an amount that approximates 1% of unpaid principal balances on qualifying loans, plus an additional amount to satisfy an activity based requirement. The stock is nonmarketable and redeemable at par value, subject to the FHLBB’s right to temporarily suspend such redemptions. Members are subject to capital calls in some circumstances to ensure compliance with the FHLBB’s capital plan. Loans held-for-sale Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income. Loans Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off are reported at their outstanding principal balance, adjusted for any charge-offs, the allowance for loan losses, loan premiums or discounts for acquired loans and any unearned fees or costs on originated loans. Loan interest income is accrued daily on the outstanding balances. 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 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 principal and interest payments are brought current and the customer has demonstrated the intent and ability to make future payments on a timely basis. Loans are written down or charged off when collection of principal is considered doubtful. Past due status is determined on a contractual basis. Loan origination and commitment fees and certain direct loan origination costs are deferred and the net amount is amortized as an adjustment of the related loan's yield. The Company generally amortizes these amounts over the contractual life of the loans. Loan premiums and discounts on loans acquired in the merger with LyndonBank are amortized as an adjustment to yield over the life of the loans. 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 had become dated and the Bank’s credit portfolio management had evolved since that period. 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 in methodology resulted in a reduction to required reserves of $529,234 at June 30, 2015. However, that reduction was partially offset by adjustments made to the commercial & industrial and commercial real estate qualitative factors for the impact of the change in methodology, principally in the areas of loan growth, loan policy, and delinquency factors. As a result, 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 at June 30, 2015. 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. Bank premises and equipment Bank premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed principally by the straight-line method over the estimated useful lives of the assets. The cost of assets sold or otherwise disposed of, and the related accumulated depreciation, are eliminated from the accounts and the resulting gains or losses are reflected in the consolidated statements of income. Maintenance and repairs are charged to current expense as incurred and the cost of major renewals and betterments is capitalized. Other real estate owned Real estate properties acquired through or in lieu of loan foreclosure or properties no longer used for bank operations are initially recorded at fair value less estimated selling cost at the date of acquisition, foreclosure or transfer. Such properties are carried at fair value, which is the market value less estimated cost of disposition, i.e. sales commissions and costs associated with the sale. Fair value is determined, as appropriate, either by obtaining a current appraisal or evaluation prepared by an independent, qualified appraiser, by obtaining a broker’s market value analysis, and finally, if the Company has limited exposure and limited risk of loss, by the opinion of management as supported by an inspection of the property and its most recent tax valuation. During periods of declining market values, the Company will generally obtain a new appraisal or evaluation. Any write-down based on the asset's fair value at the date of acquisition or institution of foreclosure is charged to the allowance for loan losses. After acquisition through or in lieu of foreclosure, these assets are carried at their new cost basis. Costs of significant property improvements are capitalized, whereas costs relating to holding the property are expensed as incurred. Appraisals by an independent, qualified appraiser are performed periodically on properties that management deems significant, or evaluations may be performed by management or a qualified third party on properties in the portfolio that are deemed less significant or less vulnerable to market conditions. Subsequent write-downs are recorded as a charge to other expense. Gains or losses on the sale of such properties are included in income when the properties are sold. Intangible assets Intangible assets include the excess of the purchase price over the fair value of net assets acquired (goodwill) in the 2007 acquisition of LyndonBank, as well as a core deposit intangible related to the deposits acquired from LyndonBank (see Note 6). The core deposit intangible is amortized on an accelerated basis over 10 years to approximate the pattern of economic benefit to the Company. The Company evaluates the valuation and amortization of the core deposit intangible asset if events occur that could result in possible impairment. Goodwill is reviewed for impairment annually, or more frequently as events or circumstances warrant. Income taxes The Company recognizes income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are established for the temporary differences between the accounting bases and the tax bases of the Company's assets and liabilities at enacted tax rates expected to be in effect when the amounts related to such temporary differences are realized or settled. Adjustments to the Company's deferred tax assets are recognized as deferred income tax expense or benefit based on management's judgments relating to the realizability of such asset. Mortgage servicing Servicing assets are recognized as separate assets when rights are acquired through purchase or retained upon the sale of loans. Capitalized servicing rights are reported in other assets and initially recorded at fair value, and are amortized against non-interest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans. Servicing rights are periodically evaluated for impairment, based upon the estimated fair value of the rights as compared to amortized cost. Impairment is determined by stratifying the rights by predominant characteristics, such as interest rates and terms. Fair value is determined using prices for similar assets with similar characteristics, when available, or based upon discounted cash flows using market-based assumptions. Impairment is recognized through a valuation allowance and is recorded as amortization of other assets, to the extent that estimated fair value is less than the capitalized amount at the valuation date. Subsequent improvement, if any, in the estimated fair value of impaired mortgage servicing rights is reflected in a positive valuation adjustment and is recognized in other income up to (but not in excess of) the amount of the prior impairment. Pension costs Pension costs are charged to salaries and employee benefits expense and accrued over the active service period. Advertising costs The Company expenses advertising costs as incurred. Comprehensive income Accounting principles generally require recognized revenue, expenses, gains and losses to be included in net income. Certain changes in assets and liabilities, such as the after-tax effect of unrealized gains and losses on available-for-sale securities, are not reflected in the consolidated statement of income, but the cumulative effect of such items from period-to-period is reflected as a separate component of the shareholders’ equity section of the consolidated balance sheet (accumulated other comprehensive income or loss). Other comprehensive income or loss, along with net income, comprises the Company's total comprehensive income. Preferred stock The Company has outstanding 25 shares of fixed-to-floating rate non-cumulative perpetual preferred stock, without par value and with a liquidation preference of $100,000 per share, issued in December 2007. Under the terms of the preferred stock, the Company pays non-cumulative cash dividends quarterly, when, as and if declared by the Board of Directors. Dividends are payable at a variable dividend rate equal to the Wall Street Journal Prime Rate in effect on the first business day of each quarterly dividend period. A variable rate of 3.25% was in effect and remained unchanged throughout 2014 and 2015. The variable rate will increase by 25 basis points for the dividend payment due in the first quarter of 2016. 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, including Dividend Reinvestment Plan (“DRIP”) shares issuable upon reinvestment of dividends (retroactively adjusted for stock splits and stock dividends, if any) and reduced for shares held in treasury. The following table illustrates the calculation of earnings per common share for the periods presented, as adjusted for the cash dividend declared on the preferred stock: Years Ended December 31, 2015 2014 Net income, as reported $ 4,825,591 $ 5,124,908 Less: dividends to preferred shareholders 81,250 81,250 Net income available to common shareholders $ 4,744,341 $ 5,043,658 Weighted average number of common shares used in calculating earnings per share 4,961,972 4,897,281 Earnings per common share $ 0.96 $ 1.03 Off-balance-sheet financial instruments In the ordinary course of business, the Company is a party to off-balance-sheet financial instruments consisting of commitments to extend credit, commercial and municipal letters of credit, standby letters of credit, and risk-sharing commitments on residential mortgage loans sold through the FHLBB’s Mortgage Partnership Finance (“MPF”) program. Such financial instruments are recorded in the consolidated financial statements when they are funded. Transfers of financial assets Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. Impact of recently issued accounting standards In January 2016, the FASB issued Accounting Standards Update 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU No. 2016-02, Leases

2. Investment Securities

2. Investment Securities	12 Months Ended
	Dec. 31, 2015
Investment Securities
Note 2. Investment Securities	Securities available-for-sale (AFS) and held-to-maturity (HTM) consist of the following: Gross Gross Amortized Unrealized Unrealized Fair Securities AFS Cost Gains Losses Value December 31, 2015 U.S. Government sponsored enterprise (GSE) debt securities $ 12,832,059 $ 22,523 $ 22,139 $ 12,832,443 Agency mortgage-backed securities (Agency MBS) 10,734,121 0 69,637 10,664,484 Other investments 2,973,000 5,046 4,573 2,973,473 $ 26,539,180 $ 27,569 $ 96,349 $ 26,470,400 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 Gross Gross Amortized Unrealized Unrealized Fair Securities HTM Cost Gains Losses Value* December 31, 2015 States and political subdivisions $ 43,354,419 $ 788,581 $ 0 $ 44,143,000 December 31, 2014 States and political subdivisions $ 41,810,945 $ 423,055 $ 0 $ 42,234,000 *Method used to determine fair value rounds values to nearest thousand. The entire balance under “Securities HTM - States and political subdivisions" consists of securities of local municipalities which are attributable to municipal financing transactions directly with the Company. The reported fair value of these securities is an estimate based on an analysis that takes into account future maturities and scheduled future repricing. The Company anticipates no losses on these securities and expects to hold them until their maturity. Securities AFS with a book value of $23,566,180 and $32,958,173 and a fair value of $23,496,927 and $32,946,894 at December 31, 2015 and 2014, respectively, were pledged as collateral for larger dollar repurchase agreement accounts and for other purposes as required or permitted by law. Proceeds from sales of securities AFS were $7,019,450 in 2015 and $10,677,626 in 2014 with gains of $22,802 in 2015 compared to $39,144 in 2014 and losses of $5,300 and $11,306 in 2015 and 2014, respectively. The carrying amount and estimated fair value of securities by contractual maturity are shown below. Expected maturities will differ from contractual maturities because issuers may call or prepay obligations with or without call or prepayment penalties, pursuant to contractual terms. 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 AFS at December 31, 2015 were as follows: Amortized Fair Cost Value Due in one year or less $ 3,077,544 $ 3,086,317 Due from one to five years 12,482,515 12,474,599 Due from five to ten years 245,000 245,000 Mortgage-backed securities 10,734,121 10,664,484 $ 26,539,180 $ 26,470,400 The scheduled maturities of debt securities HTM at December 31, 2015 were as follows: Amortized Fair Cost Value* Due in one year or less $ 27,731,133 $ 27,731,000 Due from one to five years 4,015,553 4,213,000 Due from five to ten years 3,149,531 3,347,000 Due after ten years 8,458,202 8,852,000 $ 43,354,419 $ 44,143,000 *Method used to determine fair value rounds values to nearest thousand. Debt securities AFS with unrealized losses as of the balance sheet dates are presented in the tables below. Less than 12 months 12 months or more Totals Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss December 31, 2015 U.S. GSE debt securities $ 6,243,373 $ 22,139 $ 0 $ 0 $ 6,243,373 $ 22,139 Agency MBS 10,664,484 69,637 0 0 10,664,484 69,637 Other investments 1,483,427 4,573 0 0 1,483,427 4,573 $ 18,391,284 $ 96,349 $ 0 $ 0 $ 18,391,284 $ 96,349 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 Debt securities in the table above consisted of six U.S. GSE debt securities, twelve Agency MBS and six certificates of deposit (CDs) held for investment at December 30, 2015 compared to ten U.S. GSE debt securities and four Agency MBS at December 31, 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 cost, (2) the financial condition and near-term prospects of the issuer and (3) the intent and ability of the Company to retain its investment in the issuer 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 have occurred, and the results of reviews of the issuer's financial condition. As the Company has the ability to hold its debt securities until maturity, or for the foreseeable future if classified as AFS, and it is more likely than not that the Company will not have to sell such securities before recovery of their cost basis, no declines in such securities were deemed to be other-than-temporary at December 31, 2015 and 2014. The Bank is a member of the FHLBB. The FHLBB is a cooperatively owned wholesale bank for housing and finance in the six New England States. Its mission is to support the residential mortgage and community-development lending activities of its members, which include over 450 financial institutions across New England. As a requirement of membership in the FHLBB, the Bank must own a minimum required amount of FHLBB stock, calculated periodically based primarily on the Bank’s level of borrowings from the FHLBB. The Company obtains much of its wholesale funding from the FHLBB. As of December 31, 2015 and 2014, the Company’s investment in FHLBB stock was $1,853,500 and $2,744,300, respectively. As a member of the FHLBB, the Company is also subject to future capital calls by the FHLBB in order to maintain compliance with its capital plan. During 2015 and 2014, FHLBB exercised capital call options totaling $890,800 and $300,400, respectively, on the Company’s portfolio of FHLBB stock. The Company periodically evaluates its investment in FHLBB stock for impairment based on, among other factors, the capital adequacy of the FHLBB and its overall financial condition. No impairment losses have been recorded through December 31, 2015. The Bank will continue to monitor its investment in FHLBB stock.

3. Loans, Allowance for Loan Lo

3. Loans, Allowance for Loan Losses and Credit Quality	12 Months Ended
	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Note 3. Loans, Allowance for Loan Losses and Credit Quality	The composition of net loans as of the balance sheet dates was as follows: 2015 2014 Commercial & industrial $ 65,191,124 $ 64,390,220 Commercial real estate 178,206,542 166,611,830 Residential real estate - 1st lien 162,760,273 163,966,124 Residential real estate - Jr lien 44,720,266 44,801,483 Consumer 7,241,224 8,035,298 458,119,429 447,804,955 Deduct (add): Allowance for loan losses 5,011,878 4,905,874 Deferred net loan costs (316,491 ) (303,394 ) 4,695,387 4,602,480 Net Loans $ 453,424,042 $ 443,202,475 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 December 31, 2015 30-89 Days or More Past Due Current Total Loans Loans and Accruing Commercial & industrial $ 224,997 $ 168,244 $ 393,241 $ 64,797,883 $ 65,191,124 $ 441,103 $ 13,556 Commercial real estate 888,994 560,439 1,449,433 176,757,109 178,206,542 2,400,757 45,356 Residential real estate - 1st lien 2,875,768 1,408,551 4,284,319 158,475,954 162,760,273 2,009,079 801,241 - Jr lien 521,373 63,031 584,404 44,135,862 44,720,266 386,132 63,031 Consumer 83,343 0 83,343 7,157,881 7,241,224 0 0 Total $ 4,594,475 $ 2,200,265 $ 6,794,740 $ 451,324,689 $ 458,119,429 $ 5,237,071 $ 923,184 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 - 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 For all loan segments, loans over 30 days are considered delinquent. As of December 31, 2015, there were five residential mortgage loans in process of foreclosure totaling $400,905. The following summarizes changes in the allowance for loan losses and select loan information, by portfolio segment: As of or for the year ended December 31, 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 (200,900 ) (14,783 ) (150,947 ) (66,104 ) (69,632 ) 0 (502,366 ) Recoveries 59,264 0 6,042 240 32,824 0 98,370 Provision (credit) 207,819 (144,475 ) 242,167 167,587 (6,322 ) 43,224 510,000 Ending balance $ 712,902 $ 2,152,678 $ 1,368,028 $ 422,822 $ 75,689 $ 279,759 $ 5,011,878 Allowance for loan losses Evaluated for impairment Individually $ 0 $ 0 $ 25,100 $ 114,600 $ 0 $ 0 $ 139,700 Collectively 712,902 2,152,678 1,342,928 308,222 75,689 279,759 4,872,178 Total $ 712,902 $ 2,152,678 $ 1,368,028 $ 422,822 $ 75,689 $ 279,759 $ 5,011,878 Loans evaluated for impairment Individually $ 286,436 $ 2,551,748 $ 1,419,808 $ 234,004 $ 0 $ 4,491,996 Collectively 64,904,688 175,654,794 161,340,465 44,486,262 7,241,224 453,627,433 Total $ 65,191,124 $ 178,206,542 $ 162,760,273 $ 44,720,266 $ 7,241,224 $ 458,119,429 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 Impaired loans by portfolio segment were as follows: As of December 31, 2015 2015 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded Commercial & industrial $ 0 $ 0 $ 0 $ 37,359 Commercial real estate 0 0 0 40,902 Residential real estate - 1st lien 173,788 182,251 25,100 228,273 Residential real estate - Jr lien 234,004 284,227 114,600 155,207 407,792 466,478 139,700 461,741 With no related allowance recorded Commercial & industrial 286,436 366,387 446,817 Commercial real estate 2,551,748 2,776,729 2,151,713 Residential real estate - 1st lien 1,246,020 1,460,402 973,572 Residential real estate - Jr lien 0 0 113,964 4,084,204 4,603,518 3,686,066 Total $ 4,491,996 $ 5,069,996 $ 139,700 $ 4,147,807 As of December 31, 2014 2014 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment 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 With no related allowance recorded Commercial & industrial 390,605 424,598 507,232 Commercial real estate 1,726,482 1,689,772 1,294,710 Residential real estate - 1st lien 606,133 875,841 971,542 Residential real estate - Jr lien 328,889 390,260 238,826 3,052,109 3,380,471 3,012,310 Total $ 3,371,728 $ 3,746,160 $ 77,800 $ 3,895,683 Interest income recognized on impaired loans is 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. 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 segments as of the balance sheet dates were as follows: As of December 31, 2015 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Total Group A $ 59,764,081 $ 168,326,527 $ 158,834,849 $ 44,041,594 $ 7,241,224 $ 438,208,275 Group B 4,724,729 4,529,493 599,516 212,508 0 10,066,246 Group C 702,314 5,350,522 3,325,908 466,164 0 9,844,908 Total $ 65,191,124 $ 178,206,542 $ 162,760,273 $ 44,720,266 $ 7,241,224 $ 458,119,429 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 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 segment for the periods presented were as follows: Year ended December 31, 2015 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment Commercial & industrial 2 $ 199,134 $ 204,142 Commercial real estate 3 581,431 616,438 Residential real estate - 1st lien 12 1,229,100 1,303,228 Residential real estate - Jr lien 2 117,746 121,672 Total 19 $ 2,127,411 $ 2,245,480 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 The TDRs for which there was a payment default during the twelve month periods presented were as follows: Year ended December 31, 2015 Number of Recorded Contracts Investment Commercial real estate 1 $ 149,514 Residential real estate - 1st lien 4 286,803 Residential real estate - Jr lien 1 69,828 Total 6 $ 506,145 Year ended December 31, 2014 Number of Recorded Contracts Investment Residential real estate - 1st lien 2 $ 137,830 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 December 31, 2015, the specific allowance related to TDRs was approximately $25,100. There was no specific allowance related to TDRs at December 31, 2014. As of December 31, 2015, the Company was contractually committed to lend up to $450,000 in additional funds to one debtor with an impaired SBA 75% guaranteed cap line of credit, This 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.

4. Loan Servicing

4. Loan Servicing	12 Months Ended
	Dec. 31, 2015
Transfers and Servicing of Financial Assets [Abstract]
Note 4. Loan Servicing	Mortgage loans serviced for others are not included in the accompanying consolidated balance sheets. The unpaid principal balances of mortgage loans serviced for others were $193,994,081 and $195,860,406 at December 31, 2015 and 2014, respectively. Net gain realized on the sale of loans was $424,240 and $460,505 for the years ended December 31, 2015 and 2014, respectively. The following table summarizes changes in mortgage servicing rights for the years ended December 31, 2015 2014 Balance at beginning of year $ 1,311,965 $ 1,329,079 Mortgage servicing rights capitalized 230,818 209,713 Mortgage servicing rights amortized (257,921 ) (250,955 ) Change in valuation allowance 8,217 24,128 Balance at end of year $ 1,293,079 $ 1,311,965

5. Bank Premises and Equipment

5. Bank Premises and Equipment	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Note 5. Bank Premises and Equipment	The major classes of bank premises and equipment and accumulated depreciation and amortization at December 31 were as follows: 2015 2014 Buildings and improvements $ 11,176,189 $ 10,927,643 Land and land improvements 2,377,703 2,408,921 Furniture and equipment 8,752,908 8,443,668 Leasehold improvements 1,048,409 1,319,591 Capital lease 976,907 976,907 Other prepaid assets 514,476 54,261 24,846,592 24,130,991 Less accumulated depreciation and amortization (13,386,385 ) (12,642,043 ) $ 11,460,207 $ 11,488,948 The Company is obligated under non-cancelable operating leases for bank premises expiring in various years through 2020, with options to renew. Minimum future rental payments for these leases with original terms in excess of one year as of December 31, 2015 for each of the next five years and in aggregate are: 2016 $ 183,396 2017 130,493 2018 132,612 2019 104,326 2020 76,351 $ 627,178 Total rental expense amounted to $204,991 and $237,524 for the years ended December 31, 2015 and 2014, respectively. Capital lease obligations The following is a schedule by years of future minimum lease payments under capital leases, together with the present value of the net minimum lease payments as of December 31, 2015: 2016 $ 129,755 2017 133,255 2018 138,155 2019 138,155 2020 107,155 Subsequent to 2020 37,190 Total minimum lease payments 683,665 Less amount representing interest (125,300 ) Present value of net minimum lease payments $ 558,365

6. Goodwill and Other Intangibl

6. Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 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 $3,615,614 and $3,342,919 as of December 31, 2015 and 2014, respectively. The amortization expense related to the remaining core deposit intangible at December 31, 2015 is expected to be as follows: 2016 272,695 2017 272,691 Total remaining core deposit intangible expense $ 545,386 Management evaluated goodwill for impairment at December 31, 2015 and 2014 and concluded that no impairment existed as of such dates.

7. Other Investments

7. Other Investments	12 Months Ended
	Dec. 31, 2015
Other Investments [Abstract]
Note 7. Other Investments	In 2011, the Company established a single-member LLC to facilitate the purchase of federal NMTC through an investment structure designed by a local community development entity. The LLC does not conduct any business apart from its role in the NMTC financing structure. The NMTC equity investment generated tax credits of $204,900 for the years ended December 31, 2015 and 2014, respectively, with an amortization expense of $161,890 and $147,290, respectively. The carrying value of the NMTC equity investment was $374,510 and $536,400 at December 31, 2015 and 2014, respectively, and is included in other assets in the consolidated balance sheets. The Company purchases from time to time interests in various limited partnerships established to acquire, own and rent residential housing for low and moderate income Vermonters located in northeastern and central Vermont. The tax credits from these investments were $431,715 and $512,526 for the years ended December 31, 2015 and 2014, respectively. Expenses related to amortization of the investments in the limited partnerships are recognized as a component of income tax expense, and were $403,445 and $443,832 for 2015 and 2014, respectively. The carrying values of the limited partnership investments were $2,462,932 and $1,890,877 at December 31, 2015 and 2014, respectively, and are included in other assets. The Bank has a one-third ownership interest in a non-depository trust company, CFSG, based in Newport, Vermont, which is held indirectly through Community Financial Services Partners, LLC ("CFSG Partners"), a Vermont LLC that owns 100% of the LLC equity interests of CFSG. The Bank accounts for its investment in CFSG Partners under the equity method of accounting. The Company's investment in CFSG Partners, included in other assets, amounted to $1,587,777 and $1,226,733 as of December 31, 2015 and 2014, respectively. The Company recognized income of $361,044 and $272,820 for 2015 and 2014, respectively, through CFSG Partners from the operations of CFSG.

8. Deposits

8. Deposits	12 Months Ended
	Dec. 31, 2015
Maturities of Time Deposits [Abstract]
Note 8. Deposits	The following is a maturity distribution of time deposits at December 31, 2015: 2016 $ 67,812,011 2017 13,816,874 2018 7,017,296 2019 12,765,849 2020 6,150,498 Total time certificates of deposit $ 107,562,528 Total deposits in excess of the FDIC insurance level amounted to $137,361,084 as of December 31, 2015.

9. Borrowed Funds

9. Borrowed Funds	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Note 9. Borrowed Funds	Outstanding borrowings for the Company as of December 31, 2015 amounted to $10,000,000, consisting of short-term borrowings from the FHLBB at a fixed rate of 0.48%, due on February 26, 2016, compared to no outstanding borrowings as of December 31, 2014. Borrowings from the FHLBB are secured by a blanket lien on qualified collateral consisting primarily of loans with first mortgages secured by 1-4 family residential properties. Qualified collateral for these borrowings totaled $100,361,793 and $105,276,788 as of December 31, 2015 and 2014, respectively. As of December 31, 2015 and 2014, the Company's gross potential borrowing capacity under this arrangement was $72,091,633 and $67,136,178, respectively, before reduction for outstanding advances and collateral pledges. Under a separate agreement with the FHLBB, the Company has the authority to collateralize public unit deposits, up to its available borrowing capacity, with letters of credit issued by the FHLBB. At December 31, 2015, $14,900,000 in FHLBB letters of credit was utilized as collateral for these deposits compared to $34,500,000 at December 31, 2014. Total fees paid by the Company in connection with issuance of these letters of credit were $29,535 for 2015 and $35,863 for 2014. The Company also maintained a $500,000 IDEAL Way Line of Credit with the FHLBB at December 31, 2015 and 2014, with no outstanding advances under this line at either year-end date. Interest on these borrowings is at a rate determined daily by the FHLBB and payable monthly. The Company also has a line of credit with the FRBB, which is intended to be used as a contingency funding source. For this Borrower-in-Custody arrangement, the Company pledged eligible commercial and industrial loans, commercial real estate loans and home equity loans, resulting in an available line of $72,345,479 and $78,580,859 as of December 31, 2015 and 2014, respectively. Credit advances in the FRBB lending program are overnight advances with interest chargeable at the primary credit rate (generally referred to as the discount rate), which was 100 basis points as of December 31, 2015. As of December 31, 2015 and 2014, the Company had no outstanding advances against this line. The Company has an unsecured line with two correspondent banks with available lines totaling $7,500,000 at December 31, 2015 and 2014.

10. Junior Subordinated Debentu

10. Junior Subordinated Debentures	12 Months Ended
	Dec. 31, 2015
Junior Subordinated Notes [Abstract]
Note 10. Junior Subordinated Debentures	As of December 31, 2015 and 2014, the Company had outstanding $12,887,000 principal amount of Junior Subordinated Debentures due in 2037 (the “Debentures”). The Debentures bear a floating rate equal to the 3-month London Interbank Offered Rate (LIBOR) plus 2.85%. During 2015, the floating rate approximated 3.13% per quarter compared to 3.08% for 2014. The Debentures mature on December 15, 2037 and are subordinated and junior in right of payment to all senior indebtedness of the Company, as defined in the Indenture dated as of October 31, 2007 between the Company and Wilmington Trust Company, as Trustee. The Debentures first became redeemable, in whole or in part, by the Company on December 15, 2012. Interest paid on the Debentures for 2015 and 2014 was $409,432 and $402,011, respectively, and is deductible for tax purposes. The Debentures were issued and sold to CMTV Statutory Trust I (the “Trust”). The Trust is a special purpose trust funded by a capital contribution of $387,000 from the Company, in exchange for 100% of the Trust’s common equity. The Trust was formed for the purpose of issuing corporation-obligated mandatorily redeemable Capital Securities (“Capital Securities”) in the principal amount of $12.5 million to third-party investors and using the proceeds from the sale of such Capital Securities and the Company’s initial capital contribution to purchase the Debentures. The Debentures are the sole asset of the Trust. Distributions on the Capital Securities issued by the Trust are payable quarterly at a rate per annum equal to the interest rate being earned by the Trust on the Debentures. The Capital Securities are subject to mandatory redemption, in whole or in part, upon repayment of the Debentures. The Company has entered into an agreement which, taken collectively, fully and unconditionally guarantees the payments on the Capital Securities, subject to the terms of the guarantee. The Debentures are currently includable in the Company’s Tier 1 capital up to 25% of core capital elements (see Note 20).

11. Repurchase Agreements

11. Repurchase Agreements	12 Months Ended
	Dec. 31, 2015
Securities Sold under Agreements to Repurchase [Abstract]
Note 11. Repurchase Agreements	Securities sold under agreements to repurchase amounted to $22,073,238 and $28,542,961 as of December 31, 2015 and 2014, respectively. These agreements were collateralized by U.S. GSE securities and Agency MBS securities with a book value of $23,566,180 and a fair value of $23,496,927 at December 31, 2015 and by U.S. GSE securities, U.S. Treasury notes and Agency MBS securities with a book value of $32,958,173 and a fair value of $32,946,894 at December 31, 2014. The average daily balance of these repurchase agreements was $24,332,366 and $25,263,130 during 2015 and 2014, respectively. The maximum borrowings outstanding on these agreements at any month-end reporting period of the Company were $28,229,636 and $28,542,961 during 2015 and 2014, respectively. These repurchase agreements mature daily and carried a weighted average interest rate of 0.29% during 2015 and 0.25% during 2014.

12. Income Taxes

12. Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Note 12. Income Taxes	The Company prepares its federal income tax return on a consolidated basis. Federal income taxes are allocated to members of the consolidated group based on taxable income. Federal income tax expense for the years ended December 31 was as follows: 2015 2014 Currently paid or payable $ 1,937,004 $ 1,030,257 Deferred tax (benefit) expense (172,374 ) 755,139 Total income tax expense $ 1,764,630 $ 1,785,396 Total income tax expense differed from the amounts computed at the statutory federal income tax rate of 34 percent primarily due to the following for the years ended December 31: 2015 2014 Computed expense at statutory rates $ 2,048,461 $ 2,148,522 Tax exempt interest & BOLI (414,855 ) (404,382 ) Disallowed interest 11,523 13,306 Partnership tax credits (566,949 ) (647,760 ) Low income housing investment amortization expense 403,445 443,832 NMTC amortization expense 161,890 147,290 Other 121,115 84,588 $ 1,764,630 $ 1,785,396 The deferred income tax (benefit) expense consisted of the following items for the years ended December 31: 2015 2014 Depreciation $ (82,902 ) $ (5,039 ) Mortgage servicing rights (6,421 ) (5,819 ) Deferred compensation (26,169 ) 45,324 Bad debts (36,042 ) (17,326 ) Non-accrual loan interest 13,731 18,766 Limited partnership amortization 56,890 44,566 Investment in CFSG Partners 20,182 (7,189 ) Core deposit intangible (92,716 ) (92,719 ) Loan fair value (9,951 ) (7,953 ) OREO write down (10,370 ) 5,100 Tax credit carryovers 0 774,961 Other 1,394 2,467 Deferred tax (benefit) expense $ (172,374 ) $ 755,139 Listed below are the significant components of the net deferred tax asset at December 31: 2015 2014 Components of the deferred tax asset: Bad debts $ 1,704,039 $ 1,667,997 Non-accrual loan interest 0 13,731 Deferred compensation 243,972 217,803 Limited partnerships 0 12,646 Contingent liability - MPF program 45,042 45,042 OREO write down 20,400 10,030 Capital lease 69,567 73,141 Unrealized loss on securities available-for-sale 23,385 3,834 Other 28,733 26,553 Total deferred tax asset 2,135,138 2,070,777 Components of the deferred tax liability: Depreciation 154,546 237,448 Limited partnerships 44,244 0 Mortgage servicing rights 439,647 446,068 Investment in CFSG Partners 101,848 81,666 Core deposit intangible 185,431 278,147 Fair value adjustment on acquired loans 29,444 39,395 Total deferred tax liability 955,160 1,082,724 Net deferred tax asset $ 1,179,978 $ 988,053 US GAAP provides for the recognition and measurement of deductible temporary differences (including general valuation allowances) to the extent that it is more likely than not that the deferred tax asset will be realized. The net deferred tax asset is included in other assets in the consolidated balance sheets. ASC Topic 740, "Income Taxes", defines the criteria that an individual tax position must satisfy for some or all of the benefits of that position to be recognized in a company's financial statements. Topic 740 prescribes a recognition threshold of more-likely-than-not, and a measurement attribute for all tax positions taken or expected to be taken on a tax return, in order for those tax positions to be recognized in the consolidated financial statements. The Company has adopted these provisions and there was no material effect on the consolidated financial statements. The Company is currently open to audit under the statute of limitations by the Internal Revenue Service for the years ended December 31, 2012 through 2014.

13. 401(k) and Profit-Sharing P

13. 401(k) and Profit-Sharing Plan	12 Months Ended
	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Note 13. 401(k) and Profit-Sharing Plan	The Company has a defined contribution plan covering all employees who meet certain age and service requirements. The pension expense was $610,631 and $566,732 for 2015 and 2014, respectively. These amounts represent discretionary matching contributions of a portion of the voluntary employee salary deferrals under the 401(k) plan and discretionary profit-sharing contributions under the plan.

14. Deferred Compensation and S

14. Deferred Compensation and Supplemental Employee Retirement Plans	12 Months Ended
	Dec. 31, 2015
Compensation Related Costs [Abstract]
Note 14. Deferred Compensation and Supplemental Employee Retirement Plans	The Company maintains a directors’ deferred compensation plan and, prior to 2005, maintained a retirement plan for its directors. Participants are general unsecured creditors of the Company with respect to these benefits. The benefits accrued under these plans were $141,857 and $179,080 at December 31, 2015 and 2014, respectively. Expenses associated with these plans were $779 and $20,214 for the years ended December 31, 2015 and 2014, respectively. One of the participants retired in 2014 causing a substantial distribution from this plan, resulting in the decrease in expense from 2014 to 2015. The Company also maintains a supplemental employee retirement plan (“SERP”) for certain key employees of the Company. Benefits accrued under this plan were $575,709 and $461,519 at December 31, 2015 and 2014, respectively. The expense associated with this plan was $114,190 and $86,996 for the years ended December 31, 2015 and 2014, respectively.

15. Financial Instruments with

15. Financial Instruments with Off-Balance-Sheet Risk	12 Months Ended
	Dec. 31, 2015
Financial Instruments With Off-balance-sheet Risk
Note 15. Financial Instruments with Off-Balance-Sheet Risk	The Company is a party to financial instruments with off-balance-sheet risk in the normal course of business to meet the financing needs of its customers and to reduce its own exposure to fluctuations in interest rates. These financial instruments include commitments to extend credit, standby letters of credit and financial guarantees, commitments to sell loans and risk-sharing commitments on certain sold loans. Such instruments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the balance sheet. The contract or notional amounts of those instruments reflect the maximum extent of involvement the Company has in particular classes of financial instruments. The Company's maximum exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit and financial guarantees written is represented by the contractual notional amount of those instruments. The Company applies the same credit policies and underwriting criteria in making commitments and conditional obligations as it does for on-balance-sheet instruments. The Company generally requires collateral or other security to support financial instruments with credit risk. At December 31, the following off-balance-sheet financial instruments representing credit risk were outstanding: Contract or Notional Amount 2015 2014 Unused portions of home equity lines of credit $ 25,074,972 $ 23,519,696 Other commitments to extend credit 66,189,395 59,558,700 Residential construction lines of credit 3,658,037 2,308,167 Commercial real estate and other construction lines of credit 15,586,595 15,894,462 Standby letters of credit and commercial letters of credit 1,859,059 1,714,382 Recourse on sale of credit card portfolio 262,625 265,650 MPF credit enhancement obligation, net (see Note 16) 1,051,601 1,007,250 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future funding requirements. At December 31, 2015 and 2014, the Company had binding loan commitments to sell residential mortgages at fixed rates totaling $3,655,547 and $806,543, respectively (see Note 16). The recourse provision under the terms of the sale of the Company’s credit card portfolio in 2007 is based on total lines, not balances outstanding. Based on historical losses, the Company does not expect any significant losses from this commitment. The Company evaluates each customer's credit-worthiness on a case-by-case basis. The amount of collateral obtained if deemed necessary by the Company upon extension of credit, or a commitment to extend credit, is based on management's credit evaluation of the counter-party. Collateral or other security held varies but may include real estate, accounts receivable, inventory, property, plant and equipment, and income-producing commercial properties. Standby letters of credit and financial guarantees written are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Those guarantees are primarily issued to support private borrowing arrangements. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loans to customers. The fair value of standby letters of credit has not been included in the balance sheets as the fair value is immaterial. In connection with its 2007 trust preferred securities financing, the Company guaranteed the payment obligations under the $12,500,000 of capital securities of its subsidiary, the Trust. The source of funds for payments by the Trust on its capital trust securities is payments made by the Company on its debentures issued to the Trust. The Company's obligation under those debentures is fully reflected in the Company's consolidated balance sheet, in the gross amount of $12,887,000 as of the dates presented, of which $12,500,000 represents external financing through the issuance to investors of capital securities by the Trust (see Note 10).

16. Contingent Liability

16. Contingent Liability	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Note 16. Contingent Liability	The Company sells first lien 1-4 family residential mortgage loans under the MPF program with the FHLBB. Under this program the Company shares in the credit risk of each mortgage loan, while receiving fee income in return. The Company is responsible for a Credit Enhancement Obligation (CEO) based on the credit quality of these loans. FHLBB funds a First Loss Account (FLA) based on the Company's outstanding MPF mortgage balances. This creates a laddered approach to sharing in any losses. In the event of default, homeowner's equity and private mortgage insurance, if any, are the first sources of repayment; the FHLBB's FLA funds are then utilized, followed by the participant’s CEO, with the balance of losses absorbed by FHLBB. These loans must meet specific underwriting standards of the FHLBB. As of December 31, 2015 and 2014, the Company had $50,374,657 and $51,157,934, respectively, in loans sold through the MPF program and on which the Company had a CEO. As of December 31, 2015, the notional amount of the maximum CEO related to this program was $1,171,787 compared to $1,139,726 as of December 31, 2014. The Company had accrued a contingent liability for this CEO in the amount of $120,186 and $132,476 as of December 31, 2015 and 2014, respectively, which is calculated by management based on the methodology used in calculating the allowance for loan losses, adjusted to reflect the risk sharing arrangements with the FHLBB.

17. Legal Proceedings

17. Legal Proceedings	12 Months Ended
	Dec. 31, 2015
Legal Proceedings
Note 17. Legal Proceedings	In the normal course of business, the Company is involved in various claims and legal proceedings. In the opinion of the Company's management, any liabilities resulting from such proceedings are not expected to be material to the Company's consolidated financial condition or results of operations.

18. Transactions with Related P

18. Transactions with Related Parties	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Note 18. Transactions with Related Parties	Aggregate loan transactions of the Company with directors, principal officers, their immediate families and affiliated companies in which they are principal shareholders (commonly referred to as related parties)as of December 31 were as follows: 2015 2014 Balance, beginning of year $ 8,593,273 $ 7,529,947 Loans - New Directors 7,225,328 1,039,792 New loans to existing Officers/Directors 14,587,380 22,763,371 Retirement/Resignation of Director (1,824,495 ) 0 Repayment* (14,563,935 ) (22,739,837 ) Balance, end of year $ 14,017,551 $ 8,593,273 *Includes loans sold to the secondary market. Total funds of related parties on deposit with the Company were $5,713,210 and $6,873,907 at December 31, 2015 and 2014, respectively. The Company leases 2,253 square feet of condominium space in the state office building on Main Street in Newport, Vermont to its trust company affiliate, CFSG, for its principal offices. CFSG also leases offices in the Company’s Barre and Lyndonville branches. The amount of rental income received from CFSG for the years ended December 31, 2015 and 2014 was $59,343 and $40,418, respectively. The Company utilizes the services of CFSG as an investment advisor for the Company’s 401(k) plan. The Human Resources committee of the Board of Directors is the Trustee of the plan, and CFSG provides investment advice for the plan. CFSG also acts as custodian of the retirement funds and makes investments on behalf of the plan and its participants. In addition, CFSG serves as investment advisor and custodian of funds under the Company’s SERP. The Company pays monthly management fees to CFSG for its services to the 401(k) plan and the SERP based on the market value of the total assets under management. The amount paid to CFSG for the years ended December 31, 2015 and 2014 was $47,448 and $42,556, respectively, for the 401(k) plan and $2,665 and $2,479, respectively, for the SERP.

19. Restrictions on Cash and Du

19. Restrictions on Cash and Due From Banks	12 Months Ended
	Dec. 31, 2015
Restricted Cash and Cash Equivalents Items [Line Items]
Note 19. Restrictions on Cash and Due From Banks	In the ordinary course of business the Company may, from time to time, maintain amounts due from correspondent banks that exceed federally insured limits. However, no losses have occurred in these accounts and the Company believes it is not exposed to any significant risk with respect to such accounts. The Company was required to maintain contracted balances with other correspondent banks of $462,500 at December 31, 2015 and 2014. Of the $462,500 balance, $262,500 was a separate agreed upon “impressed” balance to avoid monthly charges on the Company’s current federal funds liquidity line.

20. Regulatory Capital Requirem

20. Regulatory Capital Requirements	12 Months Ended
	Dec. 31, 2015
Regulatory Capital Requirements [Abstract]
Note 20. Regulatory Capital Requirements	The Company (on a consolidated basis) and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory - and possibly additional discretionary - actions by regulators that, if undertaken, could have a direct material effect on the Company's and the Bank's financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities, and certain off-balance-sheet items, as calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Prompt corrective action capital requirements are applicable to banks, but not bank holding companies. Beginning in 2015, the Company and the Bank are required to maintain minimum amounts and ratios (set forth in the table below) of Common equity tier 1, Tier 1 and Total capital (as defined in the regulations) to risk-weighted assets (as defined), and of Tier 1 capital (as defined) to average assets (as defined). The Company’s non-cumulative Series A preferred stock ($2.5 million liquidation preference) is includable without limitation in its Common equity tier 1 and Tier 1 capital. The Company is allowed to include in Common equity tier 1 and Tier 1 capital an amount of trust preferred securities equal to no more than 25% of the sum of all core capital elements, which is generally defined as shareholders’ equity, less certain intangibles, including goodwill and the core deposit intangible, net of any related deferred income tax liability, with the balance includable in Tier 2 capital. Management believes that, as of December 31, 2015, the Company and the Bank met all capital adequacy requirements to which they are currently subject. Rules adopted by the FRB and the Office of the Comptroller of the Currency (“OCC”) to implement the Basel III regulatory capital framework revised minimum capital requirements and adjusted prompt corrective action thresholds, including changes to the regulatory capital elements, added a new common equity Tier 1 capital ratio, increased the minimum Tier 1 ratio requirements and implemented a new capital conservation buffer. The rules also permitted certain banking organizations to retain, through a one-time election, the existing regulatory capital treatment for accumulated other comprehensive income or loss. The Company and the Bank have made the election to retain the existing regulatory treatment for accumulated other comprehensive income or loss. The Basel III Capital rules took effect for the Company and the Bank on January 1, 2015, subject to a transition period for certain parts of the rules. The table below includes the new regulatory capital ratio requirements that became effective on January 1, 2015. Beginning in 2016, an additional capital conservation buffer has been added to the minimum requirements for capital adequacy purposes, subject to a three year phase-in period. The capital conservation buffer will be fully phased-in on January 1, 2019 at 2.5 percent. A banking organization with a conservation buffer of less than 2.5 percent (or the required phase-in amount in years prior to 2019) will be subject to limitations on capital distributions, including dividend payments and certain discretionary bonus payments to executive officers. As of December 31, 2015, on a pro forma basis both the Company and the Bank would be compliant with the fully phased-in capital conservation buffer requirement. As of December 31, 2015 the Bank was considered well capitalized under the regulatory capital framework for Prompt Corrective Action and the Company exceeded applicable consolidated regulatory capital guidelines. The following table shows the regulatory capital ratios for the Company and the Bank as of December 31: Minimum Minimum To Be Well For Capital Capitalized Under Adequacy Prompt Corrective Actual Purposes: Action Provisions: Amount Ratio Amount Ratio Amount Ratio (Dollars in Thousands) December 31, 2015 Common equity tier 1 capital (to risk-weighted assets) Company $ 52,555 12.38 % $ 19,100 4.50 % N/A N/A Bank $ 52,000 12.27 % $ 19,072 4.50 % $ 27,549 6.50 % Tier 1 capital (to risk-weighted assets) Company $ 52,555 12.38 % $ 25,467 6.00 % N/A N/A Bank $ 52,000 12.27 % $ 25,430 6.00 % $ 33,906 8.00 % Total capital (to risk-weighted assets) Company $ 57,610 13.57 % $ 33,956 8.00 % N/A N/A Bank $ 57,056 13.46 % $ 33,906 8.00 % $ 42,383 10.00 % Tier 1 capital (to average assets) Company $ 52,555 9.01 % $ 23,324 4.00 % N/A N/A Bank $ 52,000 8.93 % $ 23,301 4.00 % $ 29,126 5.00 % December 31, 2014: Tier 1 capital (to risk-weighted assets) Company $ 49,071 12.31 % $ 15,949 4.00 % N/A N/A Bank $ 48,952 12.30 % $ 15,924 4.00 % $ 23,886 6.00 % Total capital (to risk-weighted assets) Company $ 54,447 13.66 % $ 31,897 8.00 % N/A N/A Bank $ 53,902 13.54 % $ 31,847 8.00 % $ 39,809 10.00 % Tier 1 capital (to average assets) Company $ 49,071 8.62 % $ 22,768 4.00 % N/A N/A Bank $ 48,952 8.61 % $ 22,745 4.00 % $ 28,431 5.00 % The Company's ability to pay dividends to its shareholders is largely dependent on the Bank's ability to pay dividends to the Company. The Bank is restricted by law as to the amount of dividends that can be paid. Dividends declared by national banks that exceed net income for the current and preceding two years must be approved by the Bank’s primary banking regulator, the OCC. Regardless of formal regulatory restrictions, the Bank may not pay dividends that would result in its capital levels being reduced below the minimum requirements shown above.

21. Fair Value

21. Fair Value	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Note 21. 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 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 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: December 31, 2015 Level 1 Level 2 Assets: (market approach) U.S. GSE debt securities $ 0 $ 12,832,443 Agency MBS 0 10,664,484 Other investments 0 2,973,473 $ 0 $ 26,470,400 December 30, 2014 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 $ 4,000,937 $ 28,945,957 There were no transfers between Levels 1 and 2 during the periods presented. There were no Level 3 financial instruments as of the balance sheet dates presented. Assets Recorded at Fair Value on a Non-Recurring Basis The following table includes assets measured at fair value on a nonrecurring 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 3. Assets measured at fair value on a nonrecurring basis and reflected in the consolidated balance sheets at the dates presented, segregated by fair value hierarchy, are summarized below: December 31, 2015 Level 2 Assets: (market approach) Residential mortgage servicing rights $ 1,293,079 Impaired loans, net of related allowance 268,092 OREO 262,000 December 31, 2014 Assets: (market approach) Residential mortgage servicing rights $ 1,311,965 Impaired loans, net of related allowance 241,819 OREO 1,238,220 There were no Level 1 or Level 3 financial instruments measured on a non-recurring basis as of the balance sheet dates presented. The carrying amounts and estimated fair values of the Company's financial instruments were as follows: December 31, 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 $ 28,852 $ 28,852 $ 0 $ 0 $ 28,852 Securities held-to-maturity 43,354 0 44,143 0 44,143 Securities available-for-sale 26,470 0 26,470 0 26,470 Restricted equity securities 2,442 0 2,442 0 2,442 Loans and loans held-for-sale Commercial & industrial 64,438 0 286 65,399 65,685 Commercial real estate 175,945 0 2,552 178,502 181,054 Residential real estate - 1st lien 162,492 0 1,395 164,959 166,354 Residential real estate - Jr lien 44,270 0 119 44,939 45,058 Consumer 7,161 0 0 7,482 7,482 Mortgage servicing rights 1,293 0 1,497 0 1,497 Accrued interest receivable 1,633 0 1,633 0 1,633 Financial liabilities: Deposits Other deposits 467,851 0 467,514 0 467,514 Brokered deposits 27,635 0 27,640 0 27,640 Federal funds purchased and short-term borrowings 10,000 0 10,000 0 10,000 Repurchase agreements 22,073 0 22,073 0 22,073 Capital lease obligations 558 0 558 0 558 Subordinated debentures 12,887 0 12,851 0 12,851 Accrued interest payable 53 0 53 0 53 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 The estimated fair values of commitments to extend credit and letters of credit were immaterial at December 31, 2015 and 2014.

22. Condensed Financial Informa

22. Condensed Financial Information (Parent Company Only)	12 Months Ended
	Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Note 22. Condensed Financial Information (Parent Company Only)	The following condensed financial statements are for Community Bancorp. (Parent Company Only), and should be read in conjunction with the consolidated financial statements of Community Bancorp. and Subsidiary. Community Bancorp. (Parent Company Only) December 31, December 31, Condensed Balance Sheets 2015 2014 Assets Cash $ 508,325 $ 479,812 Investment in subsidiary - Community National Bank 63,747,517 61,337,172 Investment in Capital Trust 387,000 387,000 Income taxes receivable 239,394 233,952 Total assets $ 64,882,236 $ 62,437,936 Liabilities and Shareholders' Equity Liabilities Junior subordinated debentures $ 12,887,000 $ 12,887,000 Dividends payable 580,580 555,734 Total liabilities 13,467,580 13,442,734 Shareholders' Equity Preferred stock, 1,000,000 shares authorized, 25 shares issued and outstanding ($100,000 liquidation value) 2,500,000 2,500,000 Common stock - $2.50 par value; 15,000,000 shares authorized, and 5,204,517 and 5,142,475 shares issued at December 31, 2015 and 2014, respectively (including 15,430 and 16,642 shares issued February 1, 2016 and 2015, respectively) 13,011,293 12,856,188 Additional paid-in capital 30,089,438 29,359,300 Retained earnings 8,482,096 6,909,934 Accumulated other comprehensive loss (45,394 ) (7,443 ) Less: treasury stock, at cost; 210,101 shares at December 31, 2015 and 2014 (2,622,777 ) (2,622,777 ) Total shareholders' equity 51,414,656 48,995,202 Total liabilities and shareholders' equity $ 64,882,236 $ 62,437,936 The investment in the subsidiary bank is carried under the equity method of accounting. The investment and cash, which is on deposit with the Bank, have been eliminated in consolidation. Community Bancorp. (Parent Company Only) Years Ended December 31, Condensed Statements of Income 2015 2014 Income Bank subsidiary distributions $ 2,842,000 $ 2,772,000 Dividends on Capital Trust 12,295 12,072 Total income 2,854,295 2,784,072 Expense Interest on junior subordinated debentures 409,432 402,011 Administrative and other 306,962 298,157 Total expense 716,394 700,168 Income before applicable income tax benefit and equity in undistributed net income of subsidiary 2,137,901 2,083,904 Income tax benefit 239,394 233,952 Income before equity in undistributed net income of subsidiary 2,377,295 2,317,856 Equity in undistributed net income of subsidiary 2,448,296 2,807,052 Net income $ 4,825,591 $ 5,124,908 Community Bancorp. (Parent Company Only) Years Ended December 31, Condensed Statements of Cash Flows 2015 2014 Cash Flows from Operating Activities Net income $ 4,825,591 $ 5,124,908 Adjustments to reconcile net income to net cash provided by operating activities Equity in undistributed net income of subsidiary (2,448,296 ) (2,807,052 ) (Increase) decrease in income taxes receivable (5,443 ) 1,607 Net cash provided by operating activities 2,371,852 2,319,463 Cash Flows from Financing Activities Dividends paid on preferred stock (81,250 ) (81,250 ) Dividends paid on common stock (2,262,089 ) (2,168,476 ) Net cash used in financing activities (2,343,339 ) (2,249,726 ) Net increase in cash 28,513 69,737 Cash Beginning 479,812 410,075 Ending $ 508,325 $ 479,812 Cash Received for Income Taxes $ 233,952 $ 235,559 Cash Paid for Interest $ 409,432 $ 402,011 Dividends paid: Dividends declared $ 3,172,179 $ 3,130,868 Increase in dividends payable attributable to dividends declared (24,847 ) (55,980 ) Dividends reinvested (885,243 ) (906,412 ) $ 2,262,089 $ 2,168,476

23. Quarterly Financial Data (U

23. Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Note 23. Quarterly Financial Data (Unaudited)	A summary of financial data for the four quarters of 2015 and 2014 is presented below: Quarters in 2015 ended March 31, June 30, Sept. 30, Dec. 31, Interest income $ 5,866,800 $ 5,751,184 $ 5,939,735 $ 5,848,970 Interest expense 727,514 672,304 632,470 613,362 Provision for loan losses 150,000 150,000 75,000 135,000 Non-interest income 1,212,787 1,304,481 1,299,995 1,332,892 Non-interest expense 4,696,729 4,779,840 4,531,874 4,802,530 Net income 1,109,841 1,077,704 1,439,822 1,198,224 Earnings per common share 0.22 0.21 0.29 0.24 Quarters in 2014 ended March 31, June 30, Sept. 30, Dec. 31, Interest income $ 5,618,276 $ 5,714,147 $ 5,829,041 $ 5,788,813 Interest expense 793,290 777,996 761,009 723,449 Provision for loan losses 135,000 135,000 135,000 135,000 Non-interest income 1,313,501 1,337,222 1,244,680 1,246,348 Non-interest expense 4,712,196 4,488,406 4,411,428 4,417,782 Net income 1,071,565 1,284,386 1,377,189 1,391,768 Earnings per common share 0.22 0.26 0.28 0.28

24. Other Income and Other Expe

24. Other Income and Other Expenses	12 Months Ended
	Dec. 31, 2015
Other Income and Expenses [Abstract]
Note 24. Other Income and Other Expenses	The components of other income and other expenses which are in excess of one percent of total revenues in either of the two years disclosed are as follows: 2015 2014 Income Income from investment in CFSG Partners $ 361,044 $ 272,820 Expenses Outsourcing expense $ 516,197 $ 420,355 Service contracts - administration 330,563 420,426 Marketing 307,841 275,915 State deposit tax 562,271 544,737 ATM fees 372,609 365,813 Telephone 312,043 326,473 FDIC Insurance 365,804 374,703

25. Subsequent Events

25. Subsequent Events	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Note 25. Subsequent Events	Declaration of Cash Dividend On December 9, 2015, the Company declared a cash dividend of $0.16 per share payable February 1, 2016 to shareholders of record as of January 15, 2016. On March 09, 2016, the Company declared a cash dividend of $0.16 per share payable May 1, 2016 to shareholders of record as of April 15, 2016. These dividends have been recorded as of each declaration date, including shares issuable under the DRIP. For purposes of accrual or disclosure in these financial statements, the Company has evaluated subsequent events through the date of issuance of these financial statements.

1. Significant Accounting Pol33

1. Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of presentation and consolidation	The consolidated financial statements include the accounts of Community Bancorp. and its wholly-owned subsidiary, Community National Bank ("Bank"). All significant intercompany accounts and transactions have been eliminated. The Company is considered a “smaller reporting company” under applicable disclosure rules of the Securities and Exchange Commission and accordingly, has elected to provide its audited statements of income, comprehensive income, cash flows and changes in shareholders’ equity for a two year, rather than a three year, period. Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 810, “Consolidation”, in part, addresses limited purpose trusts formed to issue trust preferred securities. It also establishes the criteria used to identify variable interest entities (“VIE”) and to determine whether or not to consolidate a VIE. In general, ASC Topic 810 provides that the enterprise with the controlling financial interest, known as the primary beneficiary, consolidates the VIE. In 2007, the Company formed CMTV Statutory Trust I for the purposes of issuing trust preferred securities to unaffiliated parties and investing the proceeds from the issuance thereof and the common securities of the trust in junior subordinated debentures issued by the Company. The Company is not the primary beneficiary of CMTV Statutory Trust I; accordingly, the trust is not consolidated with the Company for financial reporting purposes. CMTV Statutory Trust I is considered an affiliate of the Company (see Note 10). In December 2011, the Company formed a limited liability company (“LLC”) to facilitate its purchase of federal New Markets Tax Credits (“NMTC”) under an investment structure designed by a local community development entity. Management has evaluated the Company’s interest in the LLC under the ASC guidance relating to VIEs in light of the overall structure and purpose of the NMTC financing transaction and has concluded that the LLC should not be consolidated in the Company’s financial statements for financial reporting purposes, as the Company is not the primary beneficiary of the NMTC structure, does not exercise control within the overall structure and is not obligated to absorb a majority of any losses of the NMTC structure (see Note 7).
Nature of operations	The Company provides a variety of deposit and lending services to individuals, municipalities, and business customers through its branches, ATMs and telephone and internet banking capabilities in northern and central Vermont, which is primarily a small business and agricultural area. The Company's primary deposit products are checking and savings accounts and certificates of deposit. Its primary lending products are commercial, real estate, municipal and consumer loans.
Concentration of risk	The Company's operations are affected by various risk factors, including interest rate risk, credit risk, and risk from geographic concentration of its deposit taking and lending activities. Management attempts to manage interest rate risk through various asset/liability management techniques designed to match maturities and repricing of assets and liabilities. Loan policies and administration are designed to provide assurance that loans will only be granted to creditworthy borrowers, although credit losses are expected to occur because of subjective factors and factors beyond the control of the Company. While the Company has a diversified loan portfolio by loan type, most of its lending activities are conducted within the geographic area where its banking offices are located. As a result, the Company and its borrowers may be especially vulnerable to the consequences of changes in the local economy in northern and central Vermont. In addition, a substantial portion of the Company's loans are secured by real estate, which is susceptible to a decline in value, especially during times of adverse economic conditions.
Use of estimates	The preparation of consolidated financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates and assumptions involve inherent uncertainties. Accordingly, actual results could differ from those estimates and those differences could be material. Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for loan losses and the valuation of OREO. In connection with evaluating loans for impairment or assigning the carrying value of OREO, management generally obtains independent evaluations or appraisals for significant properties. While the allowance for loan losses and the carrying value of OREO are determined using management's best estimate of probable loan and OREO losses, respectively, as of the balance sheet date, the ultimate collectibility of a substantial portion of the Company's loan portfolio and the recovery of a substantial portion of the fair value of OREO are susceptible to uncertainties and changes in a number of factors, especially local real estate market conditions. The amount of the change that is reasonably possible cannot be estimated. While management uses available information to recognize losses on loans and OREO, future additions to the allowance or write-downs of OREO may be necessary based on changes in local economic conditions or other relevant factors. In addition, regulatory agencies, as an integral part of their examination process, periodically review the Company's allowance for losses on loans and the carrying value of OREO. Such agencies may require the Company to recognize additions to the allowance or write-downs of OREO based on their judgment about information available to them at the time of their examination. Mortgage servicing rights associated with loans originated and sold in the secondary market, where servicing is retained, are capitalized and included in other assets in the consolidated balance sheets. Mortgage servicing rights are amortized against non-interest income in proportion to, and over the period of, estimated future net servicing income of the underlying loans. The value of capitalized servicing rights represents the present estimated value of the future servicing fees arising from the right to service loans for third parties. The carrying value of the mortgage servicing rights is periodically reviewed for impairment based on a determination of estimated fair value as compared to amortized cost, and impairment, if any, is recognized through a valuation allowance and is recorded as a write down. Critical accounting policies for mortgage servicing rights relate to the initial valuation and subsequent impairment tests. The methodology used to determine the valuation of mortgage servicing rights requires the development and use of a number of estimates, including anticipated principal amortization and prepayments. Events that may significantly affect the estimates used are changes in interest rates and the payment performance of the underlying loans. Management uses a third party consultant to assist in analyzing the fair value of the Company’s mortgage servicing rights. Management evaluates securities for other-than-temporary impairment on at least a quarterly basis, and more frequently when economic or market conditions warrant such evaluation. Consideration is given to various factors, including the length of time and the extent to which the fair value has been less than cost; the nature of the issuer and its financial condition and near-term prospects; and the intent and ability of the Company to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. The evaluation of these factors is a subjective process and involves estimates and assumptions about matters that are inherently uncertain. Should actual factors and conditions differ materially from those used by management, the actual realization of gains or losses on investment securities could differ materially from the amounts recorded in the financial statements. Management utilizes numerous techniques to estimate the carrying value of various other assets held by the Company, including, but not limited to, bank premises and equipment and deferred taxes. The assumptions considered in making these estimates are based on historical experience and on various other factors that are believed by management to be reasonable under the circumstances. Management acknowledges that the use of different estimates or assumptions could produce different estimates of carrying values. Accounting for a business combination that was completed prior to 2009 requires the application of the purchase method of accounting. Under the purchase method, the Company was required to record the assets and liabilities acquired through the LyndonBank merger in 2007 at fair market value, with the excess of the purchase price over the fair value of the net assets recorded as goodwill and evaluated annually for impairment. Management uses various assumptions in evaluating goodwill for impairment.
Presentation of cash flows	For purposes of presentation in the consolidated statements of cash flows, cash and cash equivalents includes cash on hand, amounts due from banks (including cash items in process of clearing), federal funds sold (generally purchased and sold for one day periods) and overnight deposits.
Investment securities	Securities the Company has the positive intent and ability to hold to maturity are classified as held-to-maturity and reported at amortized cost. Debt and equity securities not classified as held-to-maturity are classified as available-for-sale. Investments classified as available-for-sale are carried at fair value, with unrealized gains and losses, net of tax and reclassification adjustments, reflected as a net amount in the shareholders’ equity section of the consolidated balance sheets and in the statements of changes in shareholders’ equity. Investment securities transactions are accounted for on a trade date basis. The specific identification method is used to determine realized gains and losses on sales of securities available-for-sale. Premiums and discounts are recognized in interest income using the interest method over the period to maturity or call date. The Company does not hold any securities purchased for the purpose of selling in the near term and classified as trading. Declines in the fair value of individual equity securities that are deemed to be other than temporary are reflected in earnings when identified. For individual debt securities where the Company does not intend to sell the security and it is not more likely than not that the Company will be required to sell the security before recovery of its amortized cost basis, the other-than-temporary decline in the fair value of the debt security related to (1) credit loss is recognized in earnings and (2) other factors is recognized in other comprehensive income or loss. Credit loss is deemed to exist if the present value of expected future cash flows using the interest rates at acquisition is less than the amortized cost basis of the debt security. For individual debt securities where the Company intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost, the other-than-temporary impairment is recognized in earnings equal to the entire difference between the security’s cost basis and its fair value at the balance sheet date.
Other investments	In December 2011, the Company made an equity investment in a NMTC financing structure (see Note 7). The Company’s investment in the NMTC is amortized using the effective yield method. From time to time, the Company acquires partnership interests in limited partnerships for low income housing projects. New investments in limited partnerships are amortized using the proportional amortization method. All investments made before January 1, 2015 are amortized using the effective yield method. The Company has a one-third ownership interest in Community Financial Services Group, LLC (“CFSG”), a non-depository trust company (see Note 7). The Company's investment in CFSG is accounted for under the equity method of accounting.
Restricted equity securities	Restricted equity securities comprise Federal Reserve Bank stock and Federal Home Loan Bank stock. These securities are carried at cost. As a member of the Federal Reserve Bank of Boston (“FRBB”), the Company is required to invest in FRBB stock in an amount equal to 6% of the Bank's capital stock and surplus. As a member of the Federal Home Loan Bank of Boston (“FHLBB”), the Company is required to invest in $100 par value stock of the FHLBB in an amount that approximates 1% of unpaid principal balances on qualifying loans, plus an additional amount to satisfy an activity based requirement. The stock is nonmarketable and redeemable at par value, subject to the FHLBB’s right to temporarily suspend such redemptions. Members are subject to capital calls in some circumstances to ensure compliance with the FHLBB’s capital plan.
Loans held-for-sale	Loans originated and intended for sale in the secondary market are carried at the lower of cost or estimated fair value in the aggregate. Net unrealized losses, if any, are recognized through a valuation allowance by charges to income.
Loans	Loans receivable that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off are reported at their outstanding principal balance, adjusted for any charge-offs, the allowance for loan losses, loan premiums or discounts for acquired loans and any unearned fees or costs on originated loans. Loan interest income is accrued daily on the outstanding balances. 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 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 principal and interest payments are brought current and the customer has demonstrated the intent and ability to make future payments on a timely basis. Loans are written down or charged off when collection of principal is considered doubtful. Past due status is determined on a contractual basis. Loan origination and commitment fees and certain direct loan origination costs are deferred and the net amount is amortized as an adjustment of the related loan's yield. The Company generally amortizes these amounts over the contractual life of the loans. Loan premiums and discounts on loans acquired in the merger with LyndonBank are amortized as an adjustment to yield over the life of the loans. 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 had become dated and the Bank’s credit portfolio management had evolved since that period. 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 in methodology resulted in a reduction to required reserves of $529,234 at June 30, 2015. However, that reduction was partially offset by adjustments made to the commercial & industrial and commercial real estate qualitative factors for the impact of the change in methodology, principally in the areas of loan growth, loan policy, and delinquency factors. As a result, 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 at June 30, 2015. 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.
Bank premises and equipment	Bank premises and equipment are stated at cost less accumulated depreciation. Depreciation is computed principally by the straight-line method over the estimated useful lives of the assets. The cost of assets sold or otherwise disposed of, and the related accumulated depreciation, are eliminated from the accounts and the resulting gains or losses are reflected in the consolidated statements of income. Maintenance and repairs are charged to current expense as incurred and the cost of major renewals and betterments is capitalized.
Other real estate owned	Real estate properties acquired through or in lieu of loan foreclosure or properties no longer used for bank operations are initially recorded at fair value less estimated selling cost at the date of acquisition, foreclosure or transfer. Such properties are carried at fair value, which is the market value less estimated cost of disposition, i.e. sales commissions and costs associated with the sale. Fair value is determined, as appropriate, either by obtaining a current appraisal or evaluation prepared by an independent, qualified appraiser, by obtaining a broker’s market value analysis, and finally, if the Company has limited exposure and limited risk of loss, by the opinion of management as supported by an inspection of the property and its most recent tax valuation. During periods of declining market values, the Company will generally obtain a new appraisal or evaluation. Any write-down based on the asset's fair value at the date of acquisition or institution of foreclosure is charged to the allowance for loan losses. After acquisition through or in lieu of foreclosure, these assets are carried at their new cost basis. Costs of significant property improvements are capitalized, whereas costs relating to holding the property are expensed as incurred. Appraisals by an independent, qualified appraiser are performed periodically on properties that management deems significant, or evaluations may be performed by management or a qualified third party on properties in the portfolio that are deemed less significant or less vulnerable to market conditions. Subsequent write-downs are recorded as a charge to other expense. Gains or losses on the sale of such properties are included in income when the properties are sold.
Intangible assets	Intangible assets include the excess of the purchase price over the fair value of net assets acquired (goodwill) in the 2007 acquisition of LyndonBank, as well as a core deposit intangible related to the deposits acquired from LyndonBank (see Note 6). The core deposit intangible is amortized on an accelerated basis over 10 years to approximate the pattern of economic benefit to the Company. The Company evaluates the valuation and amortization of the core deposit intangible asset if events occur that could result in possible impairment. Goodwill is reviewed for impairment annually, or more frequently as events or circumstances warrant.
Income taxes	The Company recognizes income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are established for the temporary differences between the accounting bases and the tax bases of the Company's assets and liabilities at enacted tax rates expected to be in effect when the amounts related to such temporary differences are realized or settled. Adjustments to the Company's deferred tax assets are recognized as deferred income tax expense or benefit based on management's judgments relating to the realizability of such asset.
Mortgage servicing	Servicing assets are recognized as separate assets when rights are acquired through purchase or retained upon the sale of loans. Capitalized servicing rights are reported in other assets and initially recorded at fair value, and are amortized against non-interest income in proportion to, and over the period of, the estimated future net servicing income of the underlying loans. Servicing rights are periodically evaluated for impairment, based upon the estimated fair value of the rights as compared to amortized cost. Impairment is determined by stratifying the rights by predominant characteristics, such as interest rates and terms. Fair value is determined using prices for similar assets with similar characteristics, when available, or based upon discounted cash flows using market-based assumptions. Impairment is recognized through a valuation allowance and is recorded as amortization of other assets, to the extent that estimated fair value is less than the capitalized amount at the valuation date. Subsequent improvement, if any, in the estimated fair value of impaired mortgage servicing rights is reflected in a positive valuation adjustment and is recognized in other income up to (but not in excess of) the amount of the prior impairment.
Pension costs	Pension costs are charged to salaries and employee benefits expense and accrued over the active service period.
Advertising costs	The Company expenses advertising costs as incurred.
Comprehensive income	Accounting principles generally require recognized revenue, expenses, gains and losses to be included in net income. Certain changes in assets and liabilities, such as the after-tax effect of unrealized gains and losses on available-for-sale securities, are not reflected in the consolidated statement of income, but the cumulative effect of such items from period-to-period is reflected as a separate component of the shareholders’ equity section of the consolidated balance sheet (accumulated other comprehensive income or loss). Other comprehensive income or loss, along with net income, comprises the Company's total comprehensive income.
Preferred stock	The Company has outstanding 25 shares of fixed-to-floating rate non-cumulative perpetual preferred stock, without par value and with a liquidation preference of $100,000 per share, issued in December 2007. Under the terms of the preferred stock, the Company pays non-cumulative cash dividends quarterly, when, as and if declared by the Board of Directors. Dividends are payable at a variable dividend rate equal to the Wall Street Journal Prime Rate in effect on the first business day of each quarterly dividend period. A variable rate of 3.25% was in effect and remained unchanged throughout 2014 and 2015. The variable rate will increase by 25 basis points for the dividend payment due in the first quarter of 2016.
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, including Dividend Reinvestment Plan (“DRIP”) shares issuable upon reinvestment of dividends (retroactively adjusted for stock splits and stock dividends, if any) and reduced for shares held in treasury. The following table illustrates the calculation of earnings per common share for the periods presented, as adjusted for the cash dividend declared on the preferred stock: Years Ended December 31, 2015 2014 Net income, as reported $ 4,825,591 $ 5,124,908 Less: dividends to preferred shareholders 81,250 81,250 Net income available to common shareholders $ 4,744,341 $ 5,043,658 Weighted average number of common shares used in calculating earnings per share 4,961,972 4,897,281 Earnings per common share $ 0.96 $ 1.03
Off-balance-sheet financial instruments	In the ordinary course of business, the Company is a party to off-balance-sheet financial instruments consisting of commitments to extend credit, commercial and municipal letters of credit, standby letters of credit, and risk-sharing commitments on residential mortgage loans sold through the FHLBB’s Mortgage Partnership Finance (“MPF”) program. Such financial instruments are recorded in the consolidated financial statements when they are funded.
Transfers of financial assets	Transfers of financial assets are accounted for as sales when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when (1) the assets have been isolated from the Company, (2) the transferee obtains the right (free of conditions that constrain it from taking advantage of that right) to pledge or exchange the transferred assets, and (3) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity.
Impact of recently issued accounting standards	In January 2016, the FASB issued Accounting Standards Update 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In February 2016, the FASB issued ASU No. 2016-02, Leases

1. Significant Accounting Pol34

1. Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Schedule Of Earnings Per Share	Years Ended December 31, 2015 2014 Net income, as reported $ 4,825,591 $ 5,124,908 Less: dividends to preferred shareholders 81,250 81,250 Net income available to common shareholders $ 4,744,341 $ 5,043,658 Weighted average number of common shares used in calculating earnings per share 4,961,972 4,897,281 Earnings per common share $ 0.96 $ 1.03

2. Investment Securities (Table

2. Investment Securities (Tables)	12 Months Ended
	Dec. 31, 2015
Investment Securities
Schedule Of Available For Sale Securities	Gross Gross Amortized Unrealized Unrealized Fair Securities AFS Cost Gains Losses Value December 31, 2015 U.S. Government sponsored enterprise (GSE) debt securities $ 12,832,059 $ 22,523 $ 22,139 $ 12,832,443 Agency mortgage-backed securities (Agency MBS) 10,734,121 0 69,637 10,664,484 Other investments 2,973,000 5,046 4,573 2,973,473 $ 26,539,180 $ 27,569 $ 96,349 $ 26,470,400 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
Schedule Of Held to Maturity Securities	Gross Gross Amortized Unrealized Unrealized Fair Securities HTM Cost Gains Losses Value* December 31, 2015 States and political subdivisions $ 43,354,419 $ 788,581 $ 0 $ 44,143,000 December 31, 2014 States and political subdivisions $ 41,810,945 $ 423,055 $ 0 $ 42,234,000
Schedule of Maturities of Debt Securities Available for Sale	Amortized Fair Cost Value Due in one year or less $ 3,077,544 $ 3,086,317 Due from one to five years 12,482,515 12,474,599 Due from five to ten years 245,000 245,000 Mortgage-backed securities 10,734,121 10,664,484 $ 26,539,180 $ 26,470,400
Schedule Of Maturities of Debt Securities Held to Maturity	Amortized Fair Cost Value* Due in one year or less $ 27,731,133 $ 27,731,000 Due from one to five years 4,015,553 4,213,000 Due from five to ten years 3,149,531 3,347,000 Due after ten years 8,458,202 8,852,000 $ 43,354,419 $ 44,143,000
Schedule Of Unrealized Loss	Less than 12 months 12 months or more Totals Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss December 31, 2015 U.S. GSE debt securities $ 6,243,373 $ 22,139 $ 0 $ 0 $ 6,243,373 $ 22,139 Agency MBS 10,664,484 69,637 0 0 10,664,484 69,637 Other investments 1,483,427 4,573 0 0 1,483,427 4,573 $ 18,391,284 $ 96,349 $ 0 $ 0 $ 18,391,284 $ 96,349 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

3. Loans, Allowance for Loan 36

3. Loans, Allowance for Loan Losses and Credit Quality (Tables)	12 Months Ended
	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Composition of net loans	2015 2014 Commercial & industrial $ 65,191,124 $ 64,390,220 Commercial real estate 178,206,542 166,611,830 Residential real estate - 1st lien 162,760,273 163,966,124 Residential real estate - Jr lien 44,720,266 44,801,483 Consumer 7,241,224 8,035,298 458,119,429 447,804,955 Deduct (add): Allowance for loan losses 5,011,878 4,905,874 Deferred net loan costs (316,491 ) (303,394 ) 4,695,387 4,602,480 Net Loans $ 453,424,042 $ 443,202,475
Past due loans by segment	90 Days or 90 Days Total Non-Accrual More December 31, 2015 30-89 Days or More Past Due Current Total Loans Loans and Accruing Commercial & industrial $ 224,997 $ 168,244 $ 393,241 $ 64,797,883 $ 65,191,124 $ 441,103 $ 13,556 Commercial real estate 888,994 560,439 1,449,433 176,757,109 178,206,542 2,400,757 45,356 Residential real estate - 1st lien 2,875,768 1,408,551 4,284,319 158,475,954 162,760,273 2,009,079 801,241 - Jr lien 521,373 63,031 584,404 44,135,862 44,720,266 386,132 63,031 Consumer 83,343 0 83,343 7,157,881 7,241,224 0 0 Total $ 4,594,475 $ 2,200,265 $ 6,794,740 $ 451,324,689 $ 458,119,429 $ 5,237,071 $ 923,184 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 - 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
Changes in the allowance for loan losses	As of or for the year ended December 31, 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 (200,900 ) (14,783 ) (150,947 ) (66,104 ) (69,632 ) 0 (502,366 ) Recoveries 59,264 0 6,042 240 32,824 0 98,370 Provision (credit) 207,819 (144,475 ) 242,167 167,587 (6,322 ) 43,224 510,000 Ending balance $ 712,902 $ 2,152,678 $ 1,368,028 $ 422,822 $ 75,689 $ 279,759 $ 5,011,878 Allowance for loan losses Evaluated for impairment Individually $ 0 $ 0 $ 25,100 $ 114,600 $ 0 $ 0 $ 139,700 Collectively 712,902 2,152,678 1,342,928 308,222 75,689 279,759 4,872,178 Total $ 712,902 $ 2,152,678 $ 1,368,028 $ 422,822 $ 75,689 $ 279,759 $ 5,011,878 Loans evaluated for impairment Individually $ 286,436 $ 2,551,748 $ 1,419,808 $ 234,004 $ 0 $ 4,491,996 Collectively 64,904,688 175,654,794 161,340,465 44,486,262 7,241,224 453,627,433 Total $ 65,191,124 $ 178,206,542 $ 162,760,273 $ 44,720,266 $ 7,241,224 $ 458,119,429 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
Impaired loans by segment	As of December 31, 2015 2015 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded Commercial & industrial $ 0 $ 0 $ 0 $ 37,359 Commercial real estate 0 0 0 40,902 Residential real estate - 1st lien 173,788 182,251 25,100 228,273 Residential real estate - Jr lien 234,004 284,227 114,600 155,207 407,792 466,478 139,700 461,741 With no related allowance recorded Commercial & industrial 286,436 366,387 446,817 Commercial real estate 2,551,748 2,776,729 2,151,713 Residential real estate - 1st lien 1,246,020 1,460,402 973,572 Residential real estate - Jr lien 0 0 113,964 4,084,204 4,603,518 3,686,066 Total $ 4,491,996 $ 5,069,996 $ 139,700 $ 4,147,807 As of December 31, 2014 2014 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment 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 With no related allowance recorded Commercial & industrial 390,605 424,598 507,232 Commercial real estate 1,726,482 1,689,772 1,294,710 Residential real estate - 1st lien 606,133 875,841 971,542 Residential real estate - Jr lien 328,889 390,260 238,826 3,052,109 3,380,471 3,012,310 Total $ 3,371,728 $ 3,746,160 $ 77,800 $ 3,895,683
Risk ratings	As of December 31, 2015 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Total Group A $ 59,764,081 $ 168,326,527 $ 158,834,849 $ 44,041,594 $ 7,241,224 $ 438,208,275 Group B 4,724,729 4,529,493 599,516 212,508 0 10,066,246 Group C 702,314 5,350,522 3,325,908 466,164 0 9,844,908 Total $ 65,191,124 $ 178,206,542 $ 162,760,273 $ 44,720,266 $ 7,241,224 $ 458,119,429 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
Loans modified as TDRs	Year ended December 31, 2015 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment Commercial & industrial 2 $ 199,134 $ 204,142 Commercial real estate 3 581,431 616,438 Residential real estate - 1st lien 12 1,229,100 1,303,228 Residential real estate - Jr lien 2 117,746 121,672 Total 19 $ 2,127,411 $ 2,245,480 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
TDRs payment default	Year ended December 31, 2015 Number of Recorded Contracts Investment Commercial real estate 1 $ 149,514 Residential real estate - 1st lien 4 286,803 Residential real estate - Jr lien 1 69,828 Total 6 $ 506,145 Year ended December 31, 2014 Number of Recorded Contracts Investment Residential real estate - 1st lien 2 $ 137,830

4. Loan Servicing (Tables)

4. Loan Servicing (Tables)	12 Months Ended
	Dec. 31, 2015
Transfers and Servicing of Financial Assets [Abstract]
Schedule Of Mortgage Servicing Rights	2015 2014 Balance at beginning of year $ 1,311,965 $ 1,329,079 Mortgage servicing rights capitalized 230,818 209,713 Mortgage servicing rights amortized (257,921 ) (250,955 ) Change in valuation allowance 8,217 24,128 Balance at end of year $ 1,293,079 $ 1,311,965

5. Bank Premises and Equipment

5. Bank Premises and Equipment (Tables)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Major classes of bank premises and equipment	2015 2014 Buildings and improvements $ 11,176,189 $ 10,927,643 Land and land improvements 2,377,703 2,408,921 Furniture and equipment 8,752,908 8,443,668 Leasehold improvements 1,048,409 1,319,591 Capital lease 976,907 976,907 Other prepaid assets 514,476 54,261 24,846,592 24,130,991 Less accumulated depreciation and amortization (13,386,385 ) (12,642,043 ) $ 11,460,207 $ 11,488,948
Minimum future rental payments	2016 $ 183,396 2017 130,493 2018 132,612 2019 104,326 2020 76,351 $ 627,178
Future Minimum Lease Payments for Capital Leases	2016 $ 129,755 2017 133,255 2018 138,155 2019 138,155 2020 107,155 Subsequent to 2020 37,190 Total minimum lease payments 683,665 Less amount representing interest (125,300 ) Present value of net minimum lease payments $ 558,365

6. Goodwill and Other Intangi39

6. Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Future Amortization Expense	2016 272,695 2017 272,691 Total remaining core deposit intangible expense $ 545,386

8. Deposits (Tables)

8. Deposits (Tables)	12 Months Ended
	Dec. 31, 2015
Maturities of Time Deposits [Abstract]
Maturity distribution of time deposits	2016 $ 67,812,011 2017 13,816,874 2018 7,017,296 2019 12,765,849 2020 6,150,498 Total time certificates of deposit $ 107,562,528

12. Income Taxes (Tables)

12. Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	2015 2014 Currently paid or payable $ 1,937,004 $ 1,030,257 Deferred tax (benefit) expense (172,374 ) 755,139 Total income tax expense $ 1,764,630 $ 1,785,396
Schedule of Effective Income Tax Rate Reconciliation	2015 2014 Computed expense at statutory rates $ 2,048,461 $ 2,148,522 Tax exempt interest & BOLI (414,855 ) (404,382 ) Disallowed interest 11,523 13,306 Partnership tax credits (566,949 ) (647,760 ) Low income housing investment amortization expense 403,445 443,832 NMTC amortization expense 161,890 147,290 Other 121,115 84,588 $ 1,764,630 $ 1,785,396
Deferred income tax benefit	2015 2014 Depreciation $ (82,902 ) $ (5,039 ) Mortgage servicing rights (6,421 ) (5,819 ) Deferred compensation (26,169 ) 45,324 Bad debts (36,042 ) (17,326 ) Non-accrual loan interest 13,731 18,766 Limited partnership amortization 56,890 44,566 Investment in CFSG Partners 20,182 (7,189 ) Core deposit intangible (92,716 ) (92,719 ) Loan fair value (9,951 ) (7,953 ) OREO write down (10,370 ) 5,100 Tax credit carryovers 0 774,961 Other 1,394 2,467 Deferred tax (benefit) expense $ (172,374 ) $ 755,139
Components of the net deferred tax asset	2015 2014 Components of the deferred tax asset: Bad debts $ 1,704,039 $ 1,667,997 Non-accrual loan interest 0 13,731 Deferred compensation 243,972 217,803 Limited partnerships 0 12,646 Contingent liability - MPF program 45,042 45,042 OREO write down 20,400 10,030 Capital lease 69,567 73,141 Unrealized loss on securities available-for-sale 23,385 3,834 Other 28,733 26,553 Total deferred tax asset 2,135,138 2,070,777 Components of the deferred tax liability: Depreciation 154,546 237,448 Limited partnerships 44,244 0 Mortgage servicing rights 439,647 446,068 Investment in CFSG Partners 101,848 81,666 Core deposit intangible 185,431 278,147 Fair value adjustment on acquired loans 29,444 39,395 Total deferred tax liability 955,160 1,082,724 Net deferred tax asset $ 1,179,978 $ 988,053

15. Financial Instruments wit42

15. Financial Instruments with Off-Balance-Sheet Risk (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Off balance sheet financial instruments risk	Contract or Notional Amount 2015 2014 Unused portions of home equity lines of credit $ 25,074,972 $ 23,519,696 Other commitments to extend credit 66,189,395 59,558,700 Residential construction lines of credit 3,658,037 2,308,167 Commercial real estate and other construction lines of credit 15,586,595 15,894,462 Standby letters of credit and commercial letters of credit 1,859,059 1,714,382 Recourse on sale of credit card portfolio 262,625 265,650 MPF credit enhancement obligation, net (see Note 16) 1,051,601 1,007,250

18. Transactions with Related43

18. Transactions with Related Parties (Tables)	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	2015 2014 Balance, beginning of year $ 8,593,273 $ 7,529,947 Loans - New Directors 7,225,328 1,039,792 New loans to existing Officers/Directors 14,587,380 22,763,371 Retirement/Resignation of Director (1,824,495 ) 0 Repayment* (14,563,935 ) (22,739,837 ) Balance, end of year $ 14,017,551 $ 8,593,273

20. Regulatory Capital Requir44

20. Regulatory Capital Requirements (Tables)	12 Months Ended
	Dec. 31, 2015
Regulatory Capital Requirements [Abstract]
Regulatory capital ratios	Minimum Minimum To Be Well For Capital Capitalized Under Adequacy Prompt Corrective Actual Purposes: Action Provisions: Amount Ratio Amount Ratio Amount Ratio (Dollars in Thousands) December 31, 2015 Common equity tier 1 capital (to risk-weighted assets) Company $ 52,555 12.38 % $ 19,100 4.50 % N/A N/A Bank $ 52,000 12.27 % $ 19,072 4.50 % $ 27,549 6.50 % Tier 1 capital (to risk-weighted assets) Company $ 52,555 12.38 % $ 25,467 6.00 % N/A N/A Bank $ 52,000 12.27 % $ 25,430 6.00 % $ 33,906 8.00 % Total capital (to risk-weighted assets) Company $ 57,610 13.57 % $ 33,956 8.00 % N/A N/A Bank $ 57,056 13.46 % $ 33,906 8.00 % $ 42,383 10.00 % Tier 1 capital (to average assets) Company $ 52,555 9.01 % $ 23,324 4.00 % N/A N/A Bank $ 52,000 8.93 % $ 23,301 4.00 % $ 29,126 5.00 % December 31, 2014: Tier 1 capital (to risk-weighted assets) Company $ 49,071 12.31 % $ 15,949 4.00 % N/A N/A Bank $ 48,952 12.30 % $ 15,924 4.00 % $ 23,886 6.00 % Total capital (to risk-weighted assets) Company $ 54,447 13.66 % $ 31,897 8.00 % N/A N/A Bank $ 53,902 13.54 % $ 31,847 8.00 % $ 39,809 10.00 % Tier 1 capital (to average assets) Company $ 49,071 8.62 % $ 22,768 4.00 % N/A N/A Bank $ 48,952 8.61 % $ 22,745 4.00 % $ 28,431 5.00 %

21. Fair Value (Tables)

21. Fair Value (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Schedule Of Fair Value Assets On Recurring Basis	December 31, 2015 Level 1 Level 2 Assets: (market approach) U.S. GSE debt securities $ 0 $ 12,832,443 Agency MBS 0 10,664,484 Other investments 0 2,973,473 $ 0 $ 26,470,400 December 30, 2014 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 $ 4,000,937 $ 28,945,957
Schedule of Fair Value Assets Nonrecurring Basis	December 31, 2015 Level 2 Assets: (market approach) Residential mortgage servicing rights $ 1,293,079 Impaired loans, net of related allowance 268,092 OREO 262,000 December 31, 2014 Assets: (market approach) Residential mortgage servicing rights $ 1,311,965 Impaired loans, net of related allowance 241,819 OREO 1,238,220
Schedule Of Estimated Fair Values Of Financial Instruments	December 31, 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 $ 28,852 $ 28,852 $ 0 $ 0 $ 28,852 Securities held-to-maturity 43,354 0 44,143 0 44,143 Securities available-for-sale 26,470 0 26,470 0 26,470 Restricted equity securities 2,442 0 2,442 0 2,442 Loans and loans held-for-sale Commercial & industrial 64,438 0 286 65,399 65,685 Commercial real estate 175,945 0 2,552 178,502 181,054 Residential real estate - 1st lien 162,492 0 1,395 164,959 166,354 Residential real estate - Jr lien 44,270 0 119 44,939 45,058 Consumer 7,161 0 0 7,482 7,482 Mortgage servicing rights 1,293 0 1,497 0 1,497 Accrued interest receivable 1,633 0 1,633 0 1,633 Financial liabilities: Deposits Other deposits 467,851 0 467,514 0 467,514 Brokered deposits 27,635 0 27,640 0 27,640 Federal funds purchased and short-term borrowings 10,000 0 10,000 0 10,000 Repurchase agreements 22,073 0 22,073 0 22,073 Capital lease obligations 558 0 558 0 558 Subordinated debentures 12,887 0 12,851 0 12,851 Accrued interest payable 53 0 53 0 53 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

22. Condensed Financial Infor46

22. Condensed Financial Information (Parent Company Only) (Tables)	12 Months Ended
	Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Condensed Balance Sheets	Community Bancorp. (Parent Company Only) December 31, December 31, Condensed Balance Sheets 2015 2014 Assets Cash $ 508,325 $ 479,812 Investment in subsidiary - Community National Bank 63,747,517 61,337,172 Investment in Capital Trust 387,000 387,000 Income taxes receivable 239,394 233,952 Total assets $ 64,882,236 $ 62,437,936 Liabilities and Shareholders' Equity Liabilities Junior subordinated debentures $ 12,887,000 $ 12,887,000 Dividends payable 580,580 555,734 Total liabilities 13,467,580 13,442,734 Shareholders' Equity Preferred stock, 1,000,000 shares authorized, 25 shares issued and outstanding ($100,000 liquidation value) 2,500,000 2,500,000 Common stock - $2.50 par value; 15,000,000 shares authorized, and 5,204,517 and 5,142,475 shares issued at December 31, 2015 and 2014, respectively (including 15,430 and 16,642 shares issued February 1, 2016 and 2015, respectively) 13,011,293 12,856,188 Additional paid-in capital 30,089,438 29,359,300 Retained earnings 8,482,096 6,909,934 Accumulated other comprehensive loss (45,394 ) (7,443 ) Less: treasury stock, at cost; 210,101 shares at December 31, 2015 and 2014 (2,622,777 ) (2,622,777 ) Total shareholders' equity 51,414,656 48,995,202 Total liabilities and shareholders' equity $ 64,882,236 $ 62,437,936
Condensed Statements of Income	Community Bancorp. (Parent Company Only) Years Ended December 31, Condensed Statements of Income 2015 2014 Income Bank subsidiary distributions $ 2,842,000 $ 2,772,000 Dividends on Capital Trust 12,295 12,072 Total income 2,854,295 2,784,072 Expense Interest on junior subordinated debentures 409,432 402,011 Administrative and other 306,962 298,157 Total expense 716,394 700,168 Income before applicable income tax benefit and equity in undistributed net income of subsidiary 2,137,901 2,083,904 Income tax benefit 239,394 233,952 Income before equity in undistributed net income of subsidiary 2,377,295 2,317,856 Equity in undistributed net income of subsidiary 2,448,296 2,807,052 Net income $ 4,825,591 $ 5,124,908
Condensed Statements of Cash Flows	Community Bancorp. (Parent Company Only) Years Ended December 31, Condensed Statements of Cash Flows 2015 2014 Cash Flows from Operating Activities Net income $ 4,825,591 $ 5,124,908 Adjustments to reconcile net income to net cash provided by operating activities Equity in undistributed net income of subsidiary (2,448,296 ) (2,807,052 ) (Increase) decrease in income taxes receivable (5,443 ) 1,607 Net cash provided by operating activities 2,371,852 2,319,463 Cash Flows from Financing Activities Dividends paid on preferred stock (81,250 ) (81,250 ) Dividends paid on common stock (2,262,089 ) (2,168,476 ) Net cash used in financing activities (2,343,339 ) (2,249,726 ) Net increase in cash 28,513 69,737 Cash Beginning 479,812 410,075 Ending $ 508,325 $ 479,812 Cash Received for Income Taxes $ 233,952 $ 235,559 Cash Paid for Interest $ 409,432 $ 402,011 Dividends paid: Dividends declared $ 3,172,179 $ 3,130,868 Increase in dividends payable attributable to dividends declared (24,847 ) (55,980 ) Dividends reinvested (885,243 ) (906,412 ) $ 2,262,089 $ 2,168,476

23. Quarterly Financial Data (T

23. Quarterly Financial Data (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Quarters in 2015 ended March 31, June 30, Sept. 30, Dec. 31, Interest income $ 5,866,800 $ 5,751,184 $ 5,939,735 $ 5,848,970 Interest expense 727,514 672,304 632,470 613,362 Provision for loan losses 150,000 150,000 75,000 135,000 Non-interest income 1,212,787 1,304,481 1,299,995 1,332,892 Non-interest expense 4,696,729 4,779,840 4,531,874 4,802,530 Net income 1,109,841 1,077,704 1,439,822 1,198,224 Earnings per common share 0.22 0.21 0.29 0.24 Quarters in 2014 ended March 31, June 30, Sept. 30, Dec. 31, Interest income $ 5,618,276 $ 5,714,147 $ 5,829,041 $ 5,788,813 Interest expense 793,290 777,996 761,009 723,449 Provision for loan losses 135,000 135,000 135,000 135,000 Non-interest income 1,313,501 1,337,222 1,244,680 1,246,348 Non-interest expense 4,712,196 4,488,406 4,411,428 4,417,782 Net income 1,071,565 1,284,386 1,377,189 1,391,768 Earnings per common share 0.22 0.26 0.28 0.28

24. Other Income and Other Ex48

24. Other Income and Other Expenses (Tables)	12 Months Ended
	Dec. 31, 2015
Other Income and Expenses [Abstract]
Components of other income and other expenses	2015 2014 Income Income from investment in CFSG Partners $ 361,044 $ 272,820 Expenses Outsourcing expense $ 516,197 $ 420,355 Service contracts - administration 330,563 420,426 Marketing 307,841 275,915 State deposit tax 562,271 544,737 ATM fees 372,609 365,813 Telephone 312,043 326,473 FDIC Insurance 365,804 374,703

1. Significant Accounting Pol49

1. Significant Accounting Policies (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share [Abstract]
Net income, as reported	$ 1,198,224	$ 1,439,822	$ 1,077,704	$ 1,109,841	$ 1,391,768	$ 1,377,189	$ 1,284,386	$ 1,071,565	$ 4,825,591	$ 5,124,908
Less: dividends to preferred shareholders									81,250	81,250
Net income available to common shareholders									$ 4,744,341	$ 5,043,658
Weighted average number of common shares used in calculating earnings per share									4,961,972	4,897,281
Earnings per common share	$ 0.24	$ 0.29	$ 0.21	$ 0.22	$ 0.28	$ 0.28	$ 0.26	$ 0.22	$ 0.96	$ 1.03

2. Investment Securities (Detai

2. Investment Securities (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Available for sale Securities
Amortized Cost - Available for sale Securities	$ 26,539,180	$ 32,958,173
Gross Unrealized Gains - Available for sale Securities	27,569	73,336
Gross Unrealized Losses - Available for sale Securities	96,349	84,615
Fair Value - Available for sale Securities	26,470,400	32,946,894
Held-to-Maturity Securities
Amortized Cost - Held-to-Maturity	43,354,419	41,810,945
Gross Unrealized Gains - Held-to-Maturity	788,581	423,055
Gross Unrealized Losses - Held-to-Maturity	0	0
Fair Value - Held-to-Maturity	44,143,000	42,234,000
U.S. GSE debt securities
Available for sale Securities
Amortized Cost - Available for sale Securities	12,832,059	19,929,061
Gross Unrealized Gains - Available for sale Securities	22,523	50,378
Gross Unrealized Losses - Available for sale Securities	22,139	72,289
Fair Value - Available for sale Securities	12,832,443	19,907,150
Agency mortgage-backed securities (Agency MBS)
Available for sale Securities
Amortized Cost - Available for sale Securities	10,734,121	9,031,661
Gross Unrealized Gains - Available for sale Securities	0	19,472
Gross Unrealized Losses - Available for sale Securities	69,637	12,326
Fair Value - Available for sale Securities	10,664,484	9,038,807
Other investments
Available for sale Securities
Amortized Cost - Available for sale Securities	2,973,000	0
Gross Unrealized Gains - Available for sale Securities	5,046	0
Gross Unrealized Losses - Available for sale Securities	4,573	0
Fair Value - Available for sale Securities	2,973,473	0
U.S. Government securities
Available for sale Securities
Amortized Cost - Available for sale Securities	0	3,997,451
Gross Unrealized Gains - Available for sale Securities	0	3,486
Gross Unrealized Losses - Available for sale Securities	0	0
Fair Value - Available for sale Securities	0	4,000,937
US States and Political Subdivisions Debt Securities [Member]
Held-to-Maturity Securities
Amortized Cost - Held-to-Maturity	43,354,419	41,810,945
Gross Unrealized Gains - Held-to-Maturity	788,581	423,055
Gross Unrealized Losses - Held-to-Maturity	0	0
Fair Value - Held-to-Maturity	$ 44,143,000	$ 42,234,000

2. Investment Securities (Det51

2. Investment Securities (Details 1)	Dec. 31, 2015USD ($)
Available for sale Securities
Amortized Cost
Due in one year or less, Amortized Cost	$ 3,077,544
Due from one to five years, Amortized Cost	12,482,515
Due from five to ten years	245,000
Agency MBS	10,734,121
Amortization Cost of Debt	26,539,180
Fair Value
Due in one year or less, fair value	3,086,317
Due from one to five years, fair value	12,474,599
Due from five to ten years	245,000
Agency MBS	10,664,484
Fair value of debt	26,470,400
Held to maturity Securities
Amortized Cost
Due in one year or less, Amortized Cost	27,731,133
Due from one to five years, Amortized Cost	4,015,553
Due from five to ten years	3,149,531
Due after ten years, Amortized Cost	8,458,202
Amortization Cost of Debt	43,354,419
Fair Value
Due in one year or less, fair value	27,731,000
Due from one to five years, fair value	4,213,000
Due from five to ten years	3,347,000
Due after ten years, fair value	8,852,000
Fair value of debt	$ 44,143,000

2. Investment Securities (Det52

2. Investment Securities (Details 2) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fair Value Less than 12 months	$ 18,391,284	$ 9,230,335
Unrealized Loss Less than 12 months	96,349	20,874
Fair Value 12 months or more	0	5,186,258
Unrealized Loss 12 months or more	0	63,741
Fair Value	18,391,284	14,416,593
Unrealized Loss	96,349	84,615
U.S. GSE debt securities
Fair Value Less than 12 months	6,243,373	6,023,946
Unrealized Loss Less than 12 months	22,139	8,548
Fair Value 12 months or more	0	5,186,258
Unrealized Loss 12 months or more	0	63,741
Fair Value	6,243,373	11,210,204
Unrealized Loss	22,139	72,289
Agency MBS
Fair Value Less than 12 months	10,664,484	3,206,389
Unrealized Loss Less than 12 months	69,637	12,326
Fair Value 12 months or more	0	0
Unrealized Loss 12 months or more	0	0
Fair Value	10,664,484	3,206,389
Unrealized Loss	69,637	12,326
Other investments
Fair Value Less than 12 months	1,483,427	0
Unrealized Loss Less than 12 months	4,573	0
Fair Value 12 months or more	0	0
Unrealized Loss 12 months or more	0	0
Fair Value	1,483,427	0
Unrealized Loss	$ 4,573	$ 0

2. Investment Securities (Det53

2. Investment Securities (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Book value of available for sale securities, pledged as collateral for repurchase agreements	$ 23,566,180	$ 32,958,173
Fair value of available for sale securities, pledged as collateral for repurchase agreements	23,496,927	32,946,894
Proceeds from sales of securities	7,019,450	10,677,626
Gains from sales of securities	22,802	39,144
Loss from sales of securities	5,300	11,306
Investment in FHLBB stock	$ 1,853,500	$ 2,744,300

3. Loans, Allowance for Loan 54

3. Loans, Allowance for Loan Losses and Credit Quality (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Loans and Leases Receivable Disclosure [Abstract]
Commercial & industrial	$ 65,191,124	$ 64,390,220
Commercial real estate	178,206,542	166,611,830
Residential real estate - 1st lien	162,760,273	163,966,124
Residential real estate - Jr. lien	44,720,266	44,801,483
Consumer	7,241,224	8,035,298
Gross Loans	458,119,429	447,804,955
Allowance for loan losses	5,011,878	4,905,874	$ 4,854,915
Deferred net loan costs	(316,491)	(303,394)
Total Adjustments	4,695,387	4,602,480
Net loans	$ 453,424,042	$ 443,202,475

3. Loans, Allowance for Loan 55

3. Loans, Allowance for Loan Losses and Credit Quality (Details 1) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
30-89 Days	$ 4,594,475	$ 6,568,522
90 Days or more	2,200,265	1,968,662
Total Past Due	6,794,740	8,537,184
Current	451,324,689	439,267,771
Total Loans	458,119,429	447,804,955
Non-Accrual Loans	5,237,071	4,153,589
Over 90 Days and Accruing	923,184	1,124,882
Commercial and industrial
30-89 Days	224,997	439,151
90 Days or more	168,244	299,095
Total Past Due	393,241	738,246
Current	64,797,883	63,651,974
Total Loans	65,191,124	64,390,220
Non-Accrual Loans	441,103	552,386
Over 90 Days and Accruing	13,556	23,579
Commercial Real Estate
30-89 Days	888,994	988,924
90 Days or more	560,439	5,313
Total Past Due	1,449,433	994,237
Current	176,757,109	165,617,593
Total Loans	178,206,542	166,611,830
Non-Accrual Loans	2,400,757	1,934,096
Over 90 Days and Accruing	45,356	5,313
Residential real estate - 1st lien
30-89 Days	2,875,768	4,446,138
90 Days or more	1,408,551	1,484,334
Total Past Due	4,284,319	5,930,472
Current	158,475,954	158,035,652
Total Loans	162,760,273	163,966,124
Non-Accrual Loans	2,009,079	1,263,046
Over 90 Days and Accruing	801,241	980,138
Residential real estate - Jr lien
30-89 Days	521,373	637,917
90 Days or more	63,031	179,920
Total Past Due	584,404	817,837
Current	44,135,862	43,983,646
Total Loans	44,720,266	44,801,483
Non-Accrual Loans	386,132	404,061
Over 90 Days and Accruing	63,031	115,852
Consumer
30-89 Days	83,343	56,392
90 Days or more	0	0
Total Past Due	83,343	56,392
Current	7,157,881	7,978,906
Total Loans	7,241,224	8,035,298
Non-Accrual Loans	0	0
Over 90 Days and Accruing	$ 0	$ 0

3. Loans, Allowance for Loan 56

3. Loans, Allowance for Loan Losses and Credit Quality (Details 2) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Allowance for loan losses, Beginning balance				$ 4,905,874				$ 4,854,915	$ 4,905,874	$ 4,854,915
Charge-offs									(502,366)	(543,839)
Recoveries									98,370	54,798
Provision (credit)	$ 135,000	$ 75,000	$ 150,000	150,000	$ 135,000	$ 135,000	$ 135,000	135,000	510,000	540,000
Allowance for loan losses, Ending balance	5,011,878				4,905,874				5,011,878	4,905,874
Allowance for loan losses evaluated for impairment, Individually											$ 139,700	$ 77,800
Allowance for loan losses evaluated for impairment, Collectively											4,872,178	4,828,074
Allowance for loan losses	5,011,878			4,905,874	4,905,874			4,854,915	5,011,878	4,905,874	5,011,878	4,905,874
Loans evaluated for impairment, Individually											4,491,996	3,371,728
Loans evaluated for impairment, Collectively											453,627,433	444,433,227
Total Loans											458,119,429	447,804,955
Commercial and industrial
Allowance for loan losses, Beginning balance				646,719				516,382	646,719	516,382
Charge-offs									(200,900)	(153,329)
Recoveries									59,264	6,249
Provision (credit)									207,819	277,417
Allowance for loan losses, Ending balance	712,902				646,719				712,902	646,719
Allowance for loan losses evaluated for impairment, Individually											0	0
Allowance for loan losses evaluated for impairment, Collectively											712,902	646,719
Allowance for loan losses	712,902			646,719	646,719			516,382	712,902	516,382	712,902	646,719
Loans evaluated for impairment, Individually											286,436	390,605
Loans evaluated for impairment, Collectively											64,904,688	63,999,615
Total Loans											65,191,124	64,390,220
Commercial Real Estate
Allowance for loan losses, Beginning balance				2,311,936				2,143,398	2,311,936	2,143,398
Charge-offs									(14,783)	(167,841)
Recoveries									0	0
Provision (credit)									(144,475)	336,379
Allowance for loan losses, Ending balance	2,152,678				2,311,936				2,152,678	2,311,936
Allowance for loan losses evaluated for impairment, Individually											0	34,400
Allowance for loan losses evaluated for impairment, Collectively											2,152,678	2,277,536
Allowance for loan losses	2,152,678			2,311,936	2,311,936			2,143,398	2,152,678	2,143,398	2,152,678	2,311,936
Loans evaluated for impairment, Individually											2,551,748	1,930,993
Loans evaluated for impairment, Collectively											175,654,794	164,680,837
Total Loans											178,206,542	166,611,830
Residential Real Estate 1st Lien
Allowance for loan losses, Beginning balance				1,270,766				1,452,184	1,270,766	1,452,184
Charge-offs									(150,947)	(58,904)
Recoveries									6,042	14,543
Provision (credit)									242,167	(137,057)
Allowance for loan losses, Ending balance	1,368,028				1,270,766				1,368,028	1,270,766
Allowance for loan losses evaluated for impairment, Individually											25,100	43,400
Allowance for loan losses evaluated for impairment, Collectively											1,342,928	1,227,366
Allowance for loan losses	1,368,028			1,270,766	1,270,766			1,452,184	1,368,028	1,452,184	1,368,028	1,270,766
Loans evaluated for impairment, Individually											1,419,808	721,241
Loans evaluated for impairment, Collectively											161,340,465	163,244,883
Total Loans											162,760,273	163,966,124
Residential Real Estate Jr Lien
Allowance for loan losses, Beginning balance				321,099				366,471	321,099	366,471
Charge-offs									(66,104)	(51,389)
Recoveries									240	240
Provision (credit)									167,587	5,777
Allowance for loan losses, Ending balance	422,822				321,099				422,822	321,099
Allowance for loan losses evaluated for impairment, Individually											114,600	0
Allowance for loan losses evaluated for impairment, Collectively											308,222	321,099
Allowance for loan losses	422,822			321,099	321,099			366,471	422,822	366,471	422,822	321,099
Loans evaluated for impairment, Individually											234,004	328,889
Loans evaluated for impairment, Collectively											44,486,262	44,472,594
Total Loans											44,720,266	44,801,483
Consumer
Allowance for loan losses, Beginning balance				118,819				105,279	118,819	105,279
Charge-offs									(69,632)	(112,376)
Recoveries									32,824	33,766
Provision (credit)									(6,322)	92,150
Allowance for loan losses, Ending balance	75,689				118,819				75,689	118,819
Allowance for loan losses evaluated for impairment, Individually											0	0
Allowance for loan losses evaluated for impairment, Collectively											75,689	118,819
Allowance for loan losses	75,689			118,819	118,819			105,279	75,689	105,279	75,689	118,819
Loans evaluated for impairment, Individually											0	0
Loans evaluated for impairment, Collectively											7,241,224	8,035,298
Total Loans											7,241,224	8,035,298
Unallocated
Allowance for loan losses, Beginning balance				236,535				271,201	236,535	271,201
Charge-offs									0	0
Recoveries									0	0
Provision (credit)									43,224	(34,666)
Allowance for loan losses, Ending balance	279,759				236,535				279,759	236,535
Allowance for loan losses evaluated for impairment, Individually											0	0
Allowance for loan losses evaluated for impairment, Collectively											279,759	236,535
Allowance for loan losses	$ 279,759			$ 236,535	$ 236,535			$ 271,201	$ 279,759	$ 271,201	279,759	236,535
Loans evaluated for impairment, Individually											0	0
Loans evaluated for impairment, Collectively											0	0
Total Loans											$ 0	$ 0

3. Loans, Allowance for Loan 57

3. Loans, Allowance for Loan Losses and Credit Quality (Details 3) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Recorded Investment With no related allowance recorded	$ 4,084,204	$ 3,052,109
Unpaid Principal Balance With no related allowance recorded	4,603,518	3,380,471
Average Recorded Investment With no related allowance recorded	3,686,066	3,012,310
Recorded Investment With an allowance recorded	407,792	319,619
Unpaid Principal Balance With an allowance recorded	466,478	365,689
Related Allowance With an allowance recorded	139,700	77,800
Average Recorded Investment With an allowance recorded	461,741	883,373
Recorded Investment allowance recorded	4,491,996	3,371,728
Unpaid Principal Balance allowance recorded	5,069,996	3,746,160
Related Allowance recorded	139,700	77,800
Average Recorded Investment Allowance recorded	4,147,807	3,895,683
Commercial and industrial
Recorded Investment With no related allowance recorded	286,436	390,605
Unpaid Principal Balance With no related allowance recorded	366,387	424,598
Average Recorded Investment With no related allowance recorded	446,817	507,232
Recorded Investment With an allowance recorded	0	0
Unpaid Principal Balance With an allowance recorded	0	0
Related Allowance With an allowance recorded	0	0
Average Recorded Investment With an allowance recorded	37,359	158,690
Related Allowance recorded	0	0
Commercial Real Estate
Recorded Investment With no related allowance recorded	2,551,748	1,726,482
Unpaid Principal Balance With no related allowance recorded	2,776,729	1,689,772
Average Recorded Investment With no related allowance recorded	2,151,713	1,294,710
Recorded Investment With an allowance recorded	0	204,511
Unpaid Principal Balance With an allowance recorded	0	220,981
Related Allowance With an allowance recorded	0	34,400
Average Recorded Investment With an allowance recorded	40,902	280,104
Related Allowance recorded	0	34,400
Residential real estate - 1st lien
Recorded Investment With no related allowance recorded	1,246,020	606,133
Unpaid Principal Balance With no related allowance recorded	1,460,402	875,841
Average Recorded Investment With no related allowance recorded	973,572	971,542
Recorded Investment With an allowance recorded	173,788	115,108
Unpaid Principal Balance With an allowance recorded	182,251	144,708
Related Allowance With an allowance recorded	25,100	43,400
Average Recorded Investment With an allowance recorded	228,273	294,807
Related Allowance recorded	25,100	43,400
Residential real estate - Jr lien
Recorded Investment With no related allowance recorded	0	328,889
Unpaid Principal Balance With no related allowance recorded	0	390,260
Average Recorded Investment With no related allowance recorded	113,964	238,826
Recorded Investment With an allowance recorded	234,004	0
Unpaid Principal Balance With an allowance recorded	284,227	0
Related Allowance With an allowance recorded	114,600	0
Average Recorded Investment With an allowance recorded	155,207	149,772
Related Allowance recorded	$ 114,600	$ 0

3. Loans, Allowance for Loan 58

3. Loans, Allowance for Loan Losses and Credit Quality (Details 4) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Group A	$ 438,208,275	$ 431,936,170
Group B	10,066,246	6,077,782
Group C	9,844,908	9,791,003
Total Loans	458,119,429	447,804,955
Commercial and industrial
Group A	59,764,081	61,201,586
Group B	4,724,729	2,316,908
Group C	702,314	871,726
Total Loans	65,191,124	64,390,220
Commercial Real Estate
Group A	168,326,527	157,767,641
Group B	4,529,493	3,280,904
Group C	5,350,522	5,563,285
Total Loans	178,206,542	166,611,830
Residential real estate - 1st lien
Group A	158,834,849	160,912,689
Group B	599,516	228,148
Group C	3,325,908	2,825,287
Total Loans	162,760,273	163,966,124
Residential real estate - Jr lien
Group A	44,041,594	44,018,956
Group B	212,508	251,822
Group C	466,164	530,705
Total Loans	44,720,266	44,801,483
Consumer
Group A	7,241,224	8,035,298
Group B	0	0
Group C	0	0
Total Loans	$ 7,241,224	$ 8,035,298

3. Loans, Allowance for Loan 59

3. Loans, Allowance for Loan Losses and Credit Quality (Details 5)	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Number of Contracts modified as TDRs	19	12
Pre-Modification Outstanding Recorded Investment	$ 2,127,411	$ 1,596,532
Post- Modification Outstanding Recorded Investment	$ 2,245,480	$ 1,634,159
Commercial and industrial
Number of Contracts modified as TDRs	2
Pre-Modification Outstanding Recorded Investment	$ 199,134
Post- Modification Outstanding Recorded Investment	$ 204,142
Commercial Real Estate
Number of Contracts modified as TDRs	3	1
Pre-Modification Outstanding Recorded Investment	$ 581,431	$ 301,823
Post- Modification Outstanding Recorded Investment	$ 616,438	$ 301,823
Residential real estate - 1st lien
Number of Contracts modified as TDRs	12	11
Pre-Modification Outstanding Recorded Investment	$ 1,229,100	$ 1,294,709
Post- Modification Outstanding Recorded Investment	$ 1,303,228	$ 1,332,336
Residential Real Estate Jr Lien
Number of Contracts modified as TDRs	2
Pre-Modification Outstanding Recorded Investment	$ 117,746
Post- Modification Outstanding Recorded Investment	$ 121,672

3. Loans, Allowance for Loan 60

3. Loans, Allowance for Loan Losses and Credit Quality (Details 6)	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Number of contracts	6	2
Recorded Investment	$ 506,145	$ 137,830
Commercial Real Estate
Number of contracts	1
Recorded Investment	$ 149,514
Residential real estate - 1st lien
Number of contracts	4	2
Recorded Investment	$ 286,803	$ 137,830
Residential Real Estate Jr Lien
Number of contracts	1
Recorded Investment	$ 69,828

3. Loans, Allowance for Loan 61

3. Loans, Allowance for Loan Losses and Credit Quality (Details Narrative) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Allowance related to TDRs	$ 25,100	$ 0
Residential mortgage loans in process of foreclosure	400,905
Commitment to lend additional funds	$ 450,000

4. Loan Servicing (Details)

4. Loan Servicing (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Transfers and Servicing of Financial Assets [Abstract]
Balance at beginning of year	$ 1,311,965	$ 1,329,079
Mortgage servicing rights capitalized	230,818	209,713
Mortgage servicing rights amortized	(257,921)	(250,955)
Change in valuation allowance	8,217	24,128
Balance at end of year	$ 1,293,079	$ 1,311,965

4. Loan Servicing (Details Narr

4. Loan Servicing (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Loan Servicing Details Narrative
Unpaid principal balances of mortgage loans serviced for others	$ 193,994,081	$ 195,860,406
Net gain realized on the sale of loans	$ 424,240	$ 460,505

5. Bank Premises and Equipmen64

5. Bank Premises and Equipment (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Buildings and improvements	$ 11,176,189	$ 10,927,643
Land and land improvements	2,377,703	2,408,921
Furniture and equipment	8,752,908	8,443,668
Leasehold improvements	1,048,409	1,319,591
Capital lease	976,907	976,907
Other prepaid assets	514,476	54,261
Bank premises and equipment, gross	24,846,592	24,130,991
Less accumulated depreciation and amortization	(13,386,385)	(12,642,043)
Bank premises and equipment, net	$ 11,460,207	$ 11,488,948

5. Bank Premises and Equipmen65

5. Bank Premises and Equipment (Details 1)	Dec. 31, 2015USD ($)
Property, Plant and Equipment [Abstract]
2,016	$ 183,396
2,017	130,493
2,018	132,612
2,019	104,326
2,020	76,351
Operating lease due	$ 627,178

5. Bank Premises and Equipmen66

5. Bank Premises and Equipment (Details 2)	Dec. 31, 2015USD ($)
Property, Plant and Equipment [Abstract]
2,016	$ 129,755
2,017	133,255
2,018	138,155
2,019	138,155
2,020	107,155
Subsequent to 2020	37,190
Total minimum lease payments	683,665
Less amount representing interest	(125,300)
Present value of net minimum lease payments	$ 558,365

5. Bank Premises and Equipmen67

5. Bank Premises and Equipment (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Total rental expense	$ 204,991	$ 237,524

6. Goodwill and Other Intangi68

6. Goodwill and Other Intangible Assets (Details)	Dec. 31, 2015USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2,016	$ 272,695
2,017	272,691
Total remaining core deposit intangible expense	$ 545,386

6. Goodwill and Other Intangi69

6. Goodwill and Other Intangible Assets (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Accumulated amortization expense	$ 3,615,614	$ 3,342,919
Intangible Assets Acquired	$ 4,161,000

7. Other Investments (Details N

7. Other Investments (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
NMTC [Member]
Equity investment generated tax credits	$ 204,900	$ 204,900
Amortization expense	161,890	147,290
Carrying value of equity investment	374,510	536,400
LimitedPartnership [Member]
Amortization expense	403,445	443,832
Carrying Value Limited Partnerships Investment	2,462,932	1,890,877
Tax credits	431,715	512,526
CFSG [Member]
Other assets	1,587,777	1,226,733
Income	$ 361,044	$ 272,820

8. Deposits (Details)

8. Deposits (Details)	Dec. 31, 2015USD ($)
Time Deposits [Abstract]
2,016	$ 67,812,011
2,017	13,816,874
2,018	7,017,296
2,019	12,765,849
2,020	6,150,498
Total time certificates of deposit	$ 107,562,528

8. Deposits (Details Narrative)

8. Deposits (Details Narrative)	Dec. 31, 2015USD ($)
Deposits Details Narrative
Total deposits in excess of the FDIC insurance	$ 137,361,084

9. Borrowed Funds (Details Narr

9. Borrowed Funds (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Other Short-term Borrowings	$ 10,000,000	$ 0
Short-Term Debt, Weighted Average Interest Rate	0.48%
Qualified collateral borrowing	$ 100,361,793	105,276,788
Potential borrowing capacity	72,091,633	67,136,178
Letters of credit collateral deposits	14,900,000	34,500,000
Fees paid for issuance of letters of credit	29,535	35,863
Pledged loan	$ 72,345,479	78,580,859
Primary credit rate value	100 basis points
Line of credit with correspondent bank	$ 7,500,000	7,500,000
FHLBB
Line of credit with correspondent bank	$ 500,000	$ 500,000

10. Junior Subordinated Deben74

10. Junior Subordinated Debentures (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Junior Subordinated Notes [Abstract]
Junior Subordinated Debentures	$ 12,887,000	$ 12,887,000
Interest paid on the Debentures	$ 409,432	$ 402,011
Floating rate	3.13%	3.08%

11. Repurchase Agreements (Deta

11. Repurchase Agreements (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Disclosure of Repurchase Agreements [Abstract]
Securities sold under agreements to repurchase	$ 22,073,238	$ 28,542,961
Book value of collateral of agreement	23,566,180	32,958,173
Fair value of collateral of agreement	23,496,927	32,946,894
Average daily balance of repurchase agreements	24,332,366	25,263,130
Maximum borrowings outstanding on repurchase agreement	$ 28,229,636	$ 28,542,961
Weighted average interest rate on repurchase agreement	0.29%	0.25%

12. Income Taxes (Details)

12. Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Currently paid or payable	$ 1,937,004	$ 1,030,257
Deferred tax expense (benefit)	(172,374)	755,139
Total income tax (benefit) expense	$ 1,764,630	$ 1,785,396

12. Income Taxes (Details 1)

12. Income Taxes (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Computed expense at statutory rates	$ 2,048,461	$ 2,148,522
Tax exempt interest & BOLI	(414,855)	(404,382)
Disallowed interest	11,523	13,306
Partnership tax credits	(566,949)	(647,760)
Low income housing investment amortization expense	403,445	443,832
New markets tax credit amortization expense	161,890	147,290
Other	121,115	84,588
Total income tax (benefit) expense	$ 1,764,630	$ 1,785,396

12. Income Taxes (Details 2)

12. Income Taxes (Details 2) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Deferred tax expense (benefit)	$ (172,374)	$ 755,139
Deferred Income Tax Charges [Member]
Depreciation	(82,902)	(5,039)
Mortgage servicing rights	(6,421)	(5,819)
Deferred compensation	(26,169)	45,324
Bad debts	(36,042)	(17,326)
Non-accrual loan interest	13,731	18,766
Limited partnership amortization	56,890	44,566
Investment in CFSG Partners	20,182	(7,189)
Core deposit intangible	(92,716)	(92,719)
Loan fair value	(9,951)	(7,953)
OREO write down	(10,370)	5,100
Tax credit carryovers	0	774,961
Other	1,394	2,467
Deferred tax expense (benefit)	$ (172,374)	$ 755,139

12. Income Taxes (Details 3)

12. Income Taxes (Details 3) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Components of the deferred tax asset:
Bad debts	$ 1,704,039	$ 1,667,997
Non-accrual loan interest	0	13,731
Deferred compensation	243,972	217,803
Limited partnerships	0	12,646
Contingent liability - MPF program	45,042	45,042
OREO write down	20,400	10,030
Capital lease	69,567	73,141
Unrealized loss on securities available-for-sale	23,385	3,834
Other	28,733	26,553
Total deferred tax asset	2,135,138	2,070,777
Components of the deferred tax liability:
Depreciation	154,546	237,448
Limited partnerships	44,244	0
Mortgage servicing rights	439,647	446,068
Investment in CFSG Partners	101,848	81,666
Core deposit intangible	185,431	278,147
Fair value adjustment on acquired loans	29,444	39,395
Total deferred tax liability	955,160	1,082,724
Net deferred tax asset	$ 1,179,978	$ 988,053

13. 401(k) and Profit-Sharing80

13. 401(k) and Profit-Sharing Plan (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Compensation and Retirement Disclosure [Abstract]
Pension expense	$ 610,631	$ 566,732

14. Deferred Compensation and81

14. Deferred Compensation and Supplemental Employee Retirement Plans (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Directors Deferred Compensation Plan
Benefits accrued with the plan	$ 141,857	$ 179,080
Expenses associated with the plan	779	20,214
Supplemental Employee Retirement Plan
Benefits accrued with the plan	575,709	461,519
Expenses associated with the plan	$ 114,190	$ 86,996

15. Financial Instruments wit82

15. Financial Instruments with Off-Balance-Sheet Risk (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Unused portions of home equity lines of credit	$ 25,074,972	$ 23,519,696
Other commitments to extend credit	66,189,395	59,558,700
Residential construction lines of credit	3,658,037	2,308,167
Commercial real estate and other construction lines of credit	15,586,595	15,894,462
Standby letters of credit and commercial letters of credit	1,859,059	1,714,382
Recourse on sale of credit card portfolio	262,625	265,650
MPF credit enhancement obligation, net	$ 1,051,601	$ 1,007,250

15. Financial Instruments wit83

15. Financial Instruments with Off-Balance-Sheet Risk (Details Narrative) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Binding loan commitments to sell residential mortgages	$ 3,655,547	$ 806,543
Junior subordinated debentures	12,887,000	12,887,000
External financing	$ 12,500,000	$ 12,500,000

16. Contingent Liability (Detai

16. Contingent Liability (Details Narrative) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Loans sold through the MPF program	$ 50,374,657	$ 51,157,934
Notional amount of the maximum CEO	1,171,787	1,139,726
Accrued contingent liability	$ 120,186	$ 132,476

18. Transactions with Related85

18. Transactions with Related Parties (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Balance, beginning of year	$ 8,593,273	$ 7,529,947
Retirement/Resignation of Director	(1,824,495)	0
Repayment	(14,563,935)	(22,739,837)
Balance, end of year	14,017,551	8,593,273
New Principal Officers/Directors
Loans	7,225,328	1,039,792
Existing Officers/Directors
Loans	$ 14,587,380	$ 22,763,371

18. Transactions with Related86

18. Transactions with Related Parties (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Related Party Transactions [Abstract]
Total deposits with related parties	$ 5,713,210	$ 6,873,907
Amount of rental income received	59,343	40,418
Amount paid to CFSG	47,448	42,556
Amount paid to SERP	$ 2,665	$ 2,479

19. Restrictions on Cash and 87

19. Restrictions on Cash and Due From Banks (Details Narrative) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Restricted Cash and Cash Equivalents Items [Line Items]
Contracted balances with other correspondent banks	$ 462,500	$ 462,500
Balance to avoid monthly charges on the Company current federal funds liquidity line	$ 262,500	$ 262,500

20. Regulatory Capital Requir88

20. Regulatory Capital Requirements (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Company [Member]
Total capital to risk-weighted assets amount	$ 57,610	$ 54,447
Total capital to risk-weighted assets ratio	13.57%	13.66%
Common equity tier 1 capital to risk-weighted assets amount	$ 52,555
Common equity tier 1 capital to risk-weighted assets ratio	12.38%
Tier I capital to risk-weighted assets amount	$ 52,555	$ 49,071
Tier I capital to risk-weighted assets ratio	12.38%	12.31%
Tier I capital to average assets amount	$ 52,555	$ 49,071
Tier I capital to average assets ratio	9.01%	8.62%
Total capital to risk-weighted assets Minimum for capital adequacy purposes amount	$ 33,956	$ 31,897
Total capital to risk-weighted assets Minimum for capital adequacy purposes ratio	8.00%	8.00%
Common equity tier 1 capital to risk-weighted assets Minimum for capital adequacy purposes amount	$ 19,100
Common equity tier 1 capital to risk-weighted assets Minimum for capital adequacy purposes ratio	4.50%
Tier I capital to risk-weighted assets Minimum for capital adequacy purposes amount	$ 25,467	$ 15,949
Tier I capital to risk-weighted assets minimum for capital adequacy purposes ratio	6.00%	4.00%
Tier I capital to average assets Minimum for capital adequacy purposes amount	$ 23,324	$ 22,768
Tier I capital to average assets minimum for capital adequacy purposes ratio	4.00%	4.00%
Bank [Member]
Total capital to risk-weighted assets amount	$ 57,056	$ 53,902
Total capital to risk-weighted assets ratio	13.46%	13.54%
Common equity tier 1 capital to risk-weighted assets amount	$ 52,000
Common equity tier 1 capital to risk-weighted assets ratio	12.27%
Tier I capital to risk-weighted assets amount	$ 52,000	$ 48,952
Tier I capital to risk-weighted assets ratio	12.27%	12.30%
Tier I capital to average assets amount	$ 52,000	$ 48,952
Tier I capital to average assets ratio	8.93%	8.61%
Total capital to risk-weighted assets Minimum for capital adequacy purposes amount	$ 33,906	$ 31,847
Total capital to risk-weighted assets Minimum for capital adequacy purposes ratio	8.00%	8.00%
Common equity tier 1 capital to risk-weighted assets Minimum for capital adequacy purposes amount	$ 19,072
Common equity tier 1 capital to risk-weighted assets Minimum for capital adequacy purposes ratio	4.50%
Tier I capital to risk-weighted assets Minimum for capital adequacy purposes amount	$ 25,430	$ 15,924
Tier I capital to risk-weighted assets minimum for capital adequacy purposes ratio	6.00%	4.00%
Tier I capital to average assets Minimum for capital adequacy purposes amount	$ 23,301	$ 22,745
Tier I capital to average assets minimum for capital adequacy purposes ratio	4.00%	4.00%
Total capital to risk-weighted assets minimum to be well capitalized under prompt corrective action provisions amount	$ 42,383	$ 39,809
Total capital to risk-weighted assets minimum to be well capitalized under prompt corrective action provisions ratio	10.00%	10.00%
Common equity tier 1 capital to risk-weighted assets minimum to be well capitalized under prompt corrective action provisions amount	$ 27,549
Common equity tier 1 capital to risk-weighted assets minimum to be well capitalized under prompt corrective action provisions ratio	6.50%
Tier I capital to risk-weighted assets minimum to be well capitalized under prompt corrective action provisions amount	$ 33,906	$ 23,886
Tier I capital to risk-weighted assets minimum to be well capitalized under prompt corrective action provisions ratio	8.00%	6.00%
Tier I capital to average assets minimum to be well capitalized under prompt corrective action provisions amount	$ 29,126	$ 28,431
Tier I capital to average assets minimum to be well capitalized under prompt corrective action provisions ratio	5.00%	5.00%

21. Fair Value (Details)

21. Fair Value (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Fair Value Level 1
Assets: (market approach)
Assets Recorded at Fair Value on a Recurring Basis	$ 0	$ 4,000,937
Fair Value Level 1 | U.S. GSE debt securities
Assets: (market approach)
Assets Recorded at Fair Value on a Recurring Basis	0	0
Fair Value Level 1 | Agency MBS
Assets: (market approach)
Assets Recorded at Fair Value on a Recurring Basis	0	0
Fair Value Level 1 | Other investments
Assets: (market approach)
Assets Recorded at Fair Value on a Recurring Basis	0	0
Fair Value Level 1 | U.S. Government securities
Assets: (market approach)
Assets Recorded at Fair Value on a Recurring Basis		4,000,937
Fair Value Level 2
Assets: (market approach)
Assets Recorded at Fair Value on a Recurring Basis	26,470,400	28,945,957
Fair Value Level 2 | U.S. GSE debt securities
Assets: (market approach)
Assets Recorded at Fair Value on a Recurring Basis	12,832,443	19,907,150
Fair Value Level 2 | Agency MBS
Assets: (market approach)
Assets Recorded at Fair Value on a Recurring Basis	10,664,484	9,038,807
Fair Value Level 2 | Other investments
Assets: (market approach)
Assets Recorded at Fair Value on a Recurring Basis	$ 2,973,473	0
Fair Value Level 2 | U.S. Government securities
Assets: (market approach)
Assets Recorded at Fair Value on a Recurring Basis		$ 0

21. Fair Value (Details 1)

21. Fair Value (Details 1) - Fair Value Level 2 - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Assets: (market approach)
Residential mortgage servicing rights	$ 1,293,079	$ 1,311,965
Impaired loans, net of related allowance	268,092	241,819
OREO	$ 262,000	$ 1,238,220

21. Fair Value (Details 2)

21. Fair Value (Details 2) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Fair Value Level 1
Financial assets: (in thousands)
Cash and cash equivalents	$ 28,852	$ 24,962
Securities held-to-maturity	0	0
Securities available-for-sale	0	4,001
Restricted equity securities	0	0
Loans and loans held-for-sale
Commercial & Industrial	0	0
Commercial real estate	0	0
Residential real estate - 1st lien	0	0
Residential real estate - Jr. lien	0	0
Consumer	0	0
Mortgage servicing rights	0	0
Accrued interest receivable	0	0
Deposits
Deposits, Other deposits	0	0
Deposits, Brokered deposits	0	0
Federal funds purchased and short-term borrowings	0	0
Repurchase agreements	0	0
Capital lease obligations	0	0
Subordinated debentures	0	0
Accrued interest payable	0	0
Fair Value Level 2
Financial assets: (in thousands)
Cash and cash equivalents	0	0
Securities held-to-maturity	44,143	42,234
Securities available-for-sale	26,470	28,946
Restricted equity securities	2,442	3,332
Loans and loans held-for-sale
Commercial & Industrial	286	391
Commercial real estate	2,552	1,897
Residential real estate - 1st lien	1,395	678
Residential real estate - Jr. lien	119	329
Consumer	0	0
Mortgage servicing rights	1,497	1,528
Accrued interest receivable	1,633	1,698
Deposits
Deposits, Other deposits	467,514	473,100
Deposits, Brokered deposits	27,640	20,054
Federal funds purchased and short-term borrowings	10,000	0
Repurchase agreements	22,073	28,543
Capital lease obligations	558	640
Subordinated debentures	12,851	12,867
Accrued interest payable	53	64
Fair Value Level 3
Financial assets: (in thousands)
Cash and cash equivalents	0	0
Securities held-to-maturity	0	0
Securities available-for-sale	0	0
Restricted equity securities	0	0
Loans and loans held-for-sale
Commercial & Industrial	65,399	64,800
Commercial real estate	178,502	167,961
Residential real estate - 1st lien	164,959	166,171
Residential real estate - Jr. lien	44,939	45,113
Consumer	7,482	8,315
Mortgage servicing rights	0	0
Accrued interest receivable	0	0
Deposits
Deposits, Other deposits	0	0
Deposits, Brokered deposits	0	0
Federal funds purchased and short-term borrowings	0	0
Repurchase agreements	0	0
Capital lease obligations	0	0
Subordinated debentures	0	0
Accrued interest payable	0	0
Carrying Amount
Financial assets: (in thousands)
Cash and cash equivalents	28,852	24,962
Securities held-to-maturity	43,354	41,811
Securities available-for-sale	26,470	32,947
Restricted equity securities	2,442	3,332
Loans and loans held-for-sale
Commercial & Industrial	64,438	63,709
Commercial real estate	175,945	164,212
Residential real estate - 1st lien	162,492	162,635
Residential real estate - Jr. lien	44,270	44,457
Consumer	7,161	7,912
Mortgage servicing rights	1,293	1,312
Accrued interest receivable	1,633	1,698
Deposits
Deposits, Other deposits	467,851	472,966
Deposits, Brokered deposits	27,635	20,053
Federal funds purchased and short-term borrowings	10,000	0
Repurchase agreements	22,073	28,543
Capital lease obligations	558	640
Subordinated debentures	12,887	12,887
Accrued interest payable	53	64
Fair Value
Financial assets: (in thousands)
Cash and cash equivalents	28,852	24,962
Securities held-to-maturity	44,143	42,234
Securities available-for-sale	26,470	32,947
Restricted equity securities	2,442	3,332
Loans and loans held-for-sale
Commercial & Industrial	65,685	65,191
Commercial real estate	181,054	169,858
Residential real estate - 1st lien	166,354	166,849
Residential real estate - Jr. lien	45,058	45,442
Consumer	7,482	8,315
Mortgage servicing rights	1,497	1,528
Accrued interest receivable	1,633	1,698
Deposits
Deposits, Other deposits	467,514	473,100
Deposits, Brokered deposits	27,640	20,054
Federal funds purchased and short-term borrowings	10,000	0
Repurchase agreements	22,073	28,543
Capital lease obligations	558	640
Subordinated debentures	12,851	12,867
Accrued interest payable	$ 53	$ 64

22. Condensed Financial Infor92

22. Condensed Financial Information (Parent Company Only) (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Assets
Total assets	$ 596,134,709	$ 586,711,044
Liabilities
Junior subordinated debentures	12,887,000	12,887,000
Total liabilities	544,720,053	537,715,842
Shareholders' Equity
Preferred stock, 1,000,000 shares authorized, 25 shares issued and outstanding ($100,000 liquidation value)	2,500,000	2,500,000
Common stock - $2.50 par value; 15,000,000 shares authorized, and 5,204,517 and 5,142,475 shares issued at December 31, 2015 and 2014, respectively (including 15,430 and 16,642 shares issued February 1, 2016 and 2015, respectively)	13,011,293	12,856,188
Additional paid-in capital	30,089,438	29,359,300
Retained earnings	8,482,096	6,909,934
Accumulated other comprehensive loss	(45,394)	(7,443)
Less: treasury stock, at cost; 210,101 shares at December 31, 2015 and 2014	(2,622,777)	(2,622,777)
Total shareholders' equity	51,414,656	48,995,202	$ 46,135,977
Total liabilities and shareholders' equity	596,134,709	586,711,044
Parent Company [Member]
Assets
Cash	508,325	479,812	$ 410,075
Investment in subsidiary - Community National Bank	63,747,517	61,337,172
Investment in Capital Trust	387,000	387,000
Income taxes receivable	239,394	233,952
Total assets	64,882,236	62,437,936
Liabilities
Junior subordinated debentures	12,887,000	12,887,000
Dividends payable	580,580	555,734
Total liabilities	13,467,580	13,442,734
Shareholders' Equity
Preferred stock, 1,000,000 shares authorized, 25 shares issued and outstanding ($100,000 liquidation value)	2,500,000	2,500,000
Common stock - $2.50 par value; 15,000,000 shares authorized, and 5,204,517 and 5,142,475 shares issued at December 31, 2015 and 2014, respectively (including 15,430 and 16,642 shares issued February 1, 2016 and 2015, respectively)	13,011,293	12,856,188
Additional paid-in capital	30,089,438	29,359,300
Retained earnings	8,482,096	6,909,934
Accumulated other comprehensive loss	(45,394)	(7,443)
Less: treasury stock, at cost; 210,101 shares at December 31, 2015 and 2014	(2,622,777)	(2,622,777)
Total shareholders' equity	51,414,656	48,995,202
Total liabilities and shareholders' equity	$ 64,882,236	$ 62,437,936

22. Condensed Financial Infor93

22. Condensed Financial Information (Parent Company Only) (Details 1) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Expense
Interest on junior subordinated debentures									$ 409,432	$ 402,011
Income tax benefit									1,764,630	1,785,396
Net income	$ 1,198,224	$ 1,439,822	$ 1,077,704	$ 1,109,841	$ 1,391,768	$ 1,377,189	$ 1,284,386	$ 1,071,565	4,825,591	5,124,908
Parent Company [Member]
Income
Bank subsidiary distributions									2,842,000	2,772,000
Dividends on Capital Trust									12,295	12,072
Total income									2,854,295	2,784,072
Expense
Interest on junior subordinated debentures									409,432	402,011
Administrative and other									306,962	298,157
Total expense									716,394	700,168
Income before applicable income tax benefit and equity in undistributed net income of subsidiary									2,137,901	2,083,904
Income tax benefit									239,394	233,952
Income before equity in undistributed net income of subsidiary									2,377,295	2,317,856
Equity in undistributed net income of subsidiary									2,448,296	2,807,052
Net income									$ 4,825,591	$ 5,124,908

22. Condensed Financial Infor94

22. Condensed Financial Information (Parent Company Only) (Details 2) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Cash Flows from Operating Activities
Net income	$ 1,198,224	$ 1,439,822	$ 1,077,704	$ 1,109,841	$ 1,391,768	$ 1,377,189	$ 1,284,386	$ 1,071,565	$ 4,825,591	$ 5,124,908
Adjustments to reconcile net income to net cash provided by operating activities
Net cash provided by operating activities									5,592,615	9,342,682
Cash Flows from Financing Activities
Dividends paid on preferred stock									(81,250)	(81,250)
Dividends paid on common stock									(2,262,089)	(2,168,476)
Net cash used in financing activities									3,571,858	8,044,016
Net increase in cash									3,889,716	6,632,185
Cash Paid for Interest									2,656,688	3,067,376
Dividends paid:
Dividends declared									3,172,179	3,130,868
Increase in dividends payable attributable to dividends declared									(24,847)	(55,980)
Dividends reinvested									(885,243)	(906,412)
Parent Company [Member]
Cash Flows from Operating Activities
Net income									4,825,591	5,124,908
Adjustments to reconcile net income to net cash provided by operating activities
Equity in undistributed net income of subsidiary									(2,448,296)	(2,807,052)
(Increase) decrease in income taxes receivable									(5,443)	1,607
Net cash provided by operating activities									2,371,852	2,319,463
Cash Flows from Financing Activities
Dividends paid on preferred stock									(81,250)	(81,250)
Dividends paid on common stock									(2,262,089)	(2,168,476)
Net cash used in financing activities									(2,343,339)	(2,249,726)
Net increase in cash									28,513	69,737
Cash Beginning				$ 479,812				$ 410,075	479,812	410,075
Cash Ending	$ 508,325				$ 479,812				508,325	479,812
Cash Received for Income Taxes									233,952	235,559
Cash Paid for Interest									409,432	402,011
Dividends paid:
Dividends declared									3,172,179	3,130,868
Increase in dividends payable attributable to dividends declared									(24,847)	(55,980)
Dividends reinvested									(885,243)	(906,412)
Total common shares dividends paid									$ 2,262,089	$ 2,168,476

22. Condensed Financial Infor95

22. Condensed Financial Information (Parent Company Only) (Details Narrative) - USD ($)	Feb. 01, 2016	Dec. 31, 2015	Feb. 01, 2015	Dec. 31, 2014
Preferred stock, shares authorized (in shares)		1,000,000		1,000,000
Preferred stock, shares issued (in shares)		25		25
Preferred stock, shares outstanding (in shares)		25		25
Preferred stock liquidation value		$ 100,000		$ 100,000
Common stock par value (in dollars per share)		$ 2.50		$ 2.50
Common stock, shares authorized (in shares)		15,000,000		15,000,000
Common stock, shares issued (in shares)	15,430	5,204,517	16,642	5,142,475
Treasury stock (in shares)		210,101		210,101
Parent Company [Member]
Preferred stock, shares authorized (in shares)		1,000,000		1,000,000
Preferred stock, shares issued (in shares)		25		25
Preferred stock, shares outstanding (in shares)		25		25
Preferred stock liquidation value		$ 100,000		$ 100,000
Common stock par value (in dollars per share)		$ 2.50		$ 2.50
Common stock, shares authorized (in shares)		15,000,000		15,000,000
Common stock, shares issued (in shares)	15,430	5,204,517	16,642	5,142,475
Treasury stock (in shares)		210,101		210,101

23. Quarterly Financial Data 96

23. Quarterly Financial Data (Unaudited) (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Interest income	$ 5,848,970	$ 5,939,735	$ 5,751,184	$ 5,866,800	$ 5,788,813	$ 5,829,041	$ 5,714,147	$ 5,618,276	$ 23,406,689	$ 22,950,277
Interest expense	613,362	632,470	672,304	727,514	723,449	761,009	777,996	793,290	2,645,650	3,055,744
Provision for loan losses	135,000	75,000	150,000	150,000	135,000	135,000	135,000	135,000	510,000	540,000
Non-interest income	1,332,892	1,299,995	1,304,481	1,212,787	1,246,348	1,244,680	1,337,222	1,313,501	5,150,155	5,141,751
Non-interest expense	4,802,530	4,531,874	4,779,840	4,696,729	4,417,782	4,411,428	4,488,406	4,712,196	18,810,973	17,585,980
Net income	$ 1,198,224	$ 1,439,822	$ 1,077,704	$ 1,109,841	$ 1,391,768	$ 1,377,189	$ 1,284,386	$ 1,071,565	$ 4,825,591	$ 5,124,908
Earnings per common share	$ 0.24	$ 0.29	$ 0.21	$ 0.22	$ 0.28	$ 0.28	$ 0.26	$ 0.22	$ 0.96	$ 1.03

24. Other Income and Other Ex97

24. Other Income and Other Expenses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income
Income from investment in CFSG Partners	$ 361,044	$ 272,820
Expenses
Outsourcing expense	516,197	420,355
Service contracts - administration	330,563	420,426
Marketing	307,841	275,915
State deposit tax	562,271	544,737
ATM fees	372,609	365,813
Telephone	312,043	326,473
FDIC Insurance	$ 365,804	$ 374,703