Community Bancorp (CMTV) 10-Q 13 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 06, 2016
Document And Entity Information
Entity Registrant Name	Community Bancorp /VT
Entity Central Index Key	718,413
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer	No
Is Entity a Voluntary Filer	No
Is Entity's Reporting Status Current	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		5,010,839
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,016

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Assets
Cash and due from banks	$ 9,397,008	$ 9,479,353	$ 10,291,010
Federal funds sold and overnight deposits	16,055,662	19,372,537	7,041,426
Total cash and cash equivalents	25,452,670	28,851,890	17,332,436
Securities held-to-maturity (fair value $46,235,000 at 03/31/16, $44,143,000 at 12/31/15 and $43,182,000 at 03/31/15)	45,551,714	43,354,419	42,831,982
Securities available-for-sale	29,572,121	26,470,400	31,806,566
Restricted equity securities, at cost	1,891,250	2,441,650	3,332,450
Loans held-for-sale	525,200	1,199,400	1,325,657
Loans	455,048,185	458,119,429	452,573,594
Allowance for loan losses	(5,109,488)	(5,011,878)	(5,003,049)
Deferred net loan costs	315,050	316,491	303,949
Net loans	450,253,747	453,424,042	447,874,494
Bank premises and equipment, net	11,251,819	11,460,207	11,859,401
Accrued interest receivable	2,064,364	1,633,213	2,058,762
Bank owned life insurance (BOLI)	4,546,589	4,520,486	4,440,083
Core deposit intangible	477,211	545,386	749,906
Goodwill	11,574,269	11,574,269	11,574,269
Other real estate owned (OREO)	465,000	262,000	1,238,320
Other assets	9,783,374	10,397,347	9,164,138
Total assets	593,409,328	596,134,709	585,588,464
Deposits:
Demand, non-interest bearing	91,019,639	93,525,762	82,409,999
Interest-bearing transaction accounts	117,208,113	130,735,094	113,984,797
Money market funds	86,652,637	81,930,888	89,983,921
Savings	85,327,489	81,731,290	80,299,343
Time deposits, $250,000 and over	13,306,128	9,431,437	10,354,149
Other time deposits	95,386,130	98,131,091	100,087,060
Total deposits	488,900,136	495,485,562	477,119,269
Federal funds purchased and other borrowed funds	10,350,000	10,000,000	15,000,000
Repurchase agreements	25,149,039	22,073,238	28,229,636
Capital lease obligations	537,028	558,365	619,858
Junior subordinated debentures	12,887,000	12,887,000	12,887,000
Accrued interest and other liabilities	3,382,769	3,715,888	2,065,288
Total liabilities	541,205,972	544,720,053	535,921,051
Shareholders' Equity
Preferred stock, 1,000,000 shares authorized, 25 shares issued and outstanding ($100,000 liquidation value)	2,500,000	2,500,000	2,500,000
Common stock - $2.50 par value; 15,000,000 shares authorized, 5,220,419 shares issued at 03/31/16, 5,204,517 shares issued at 12/31/15 and 5,159,512 shares issued at 03/31/15	13,051,048	13,011,293	12,898,780
Additional paid-in capital	30,268,924	30,089,438	29,554,651
Retained earnings	8,830,533	8,482,096	7,210,220
Accumulated other comprehensive income (loss)	175,628	(45,394)	126,539
Less: treasury stock, at cost; 210,101 shares at 03/31/16, 12/31/15, and 03/31/15	(2,622,777)	(2,622,777)	(2,622,777)
Total shareholders' equity	52,203,356	51,414,656	49,667,413
Total liabilities and shareholders' equity	$ 593,409,328	$ 596,134,709	$ 585,588,464

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) (Unaudited) - USD ($)	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Assets
Securities held-to-maturity, fair value	$ 46,235,000	$ 44,143,000	$ 43,182,000
Shareholder's Equity
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	25	25	25
Preferred stock, shares outstanding (in shares)	25	25	25
Preferred stock liquidation value	$ 100,000	$ 100,000	$ 100,000
Common stock par value (in dollars per share)	$ 2.50	$ 2.50	$ 2.50
Common stock, shares authorized (in shares)	15,000,000	15,000,000	15,000,000
Common stock, shares issued (in shares)	5,220,419	5,204,517	5,159,512
Treasury stock (in shares)	210,101	210,101	210,101

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Interest income
Interest and fees on loans	$ 5,370,424	$ 5,464,261
Interest on debt securities
Taxable	122,637	105,039
Tax-exempt	284,909	271,126
Dividends	29,378	23,883
Interest on federal funds sold and overnight deposits	10,906	2,491
Total interest income	5,818,254	5,866,800
Interest expense
Interest on deposits	516,594	592,457
Interest on federal funds purchased and other borrowed funds	19,158	14,741
Interest on repurchase agreements	17,991	19,638
Interest on junior subordinated debentures	109,519	100,678
Total interest expense	663,262	727,514
Net interest income	5,154,992	5,139,286
Provision for loan losses	100,000	150,000
Net interest income after provision for loan losses	5,054,992	4,989,286
Non-interest income
Service fees	617,679	631,437
Income from sold loans	221,194	200,675
Other income from loans	195,888	134,200
Other income	203,090	246,475
Total non-interest income	1,237,851	1,212,787
Non-interest expense
Salaries and wages	1,725,000	1,655,152
Employee benefits	685,082	664,153
Occupancy expenses, net	645,746	690,303
Other expenses	1,626,463	1,687,121
Total non-interest expense	4,682,291	4,696,729
Income before income taxes	1,610,552	1,505,344
Income tax expense	441,058	395,503
Net income	$ 1,169,494	$ 1,109,841
Earnings per common share	$ 0.23	$ 0.22
Weighted average number of common shares used in computing earnings per share	5,000,144	4,938,500
Dividends declared per common share	$ 0.16	$ 0.16
Book value per common share outstanding at March 31,	$ 9.92	$ 9.53

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 1,169,494	$ 1,109,841
Other comprehensive income, net of tax:
Unrealized holding gain on available-for-sale securities arising during the period	334,883	203,004
Tax effect	(113,861)	(69,022)
Other comprehensive income, net of tax	221,022	133,982
Total comprehensive income	$ 1,390,516	$ 1,243,823

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash Flows from Operating Activities:
Net income	$ 1,169,494	$ 1,109,841
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization, bank premises and equipment	251,627	242,300
Provision for loan losses	100,000	150,000
Deferred income tax	(29,227)	(68,564)
Gain on sale of loans	(101,510)	(73,031)
Gain on sale of OREO	0	(51)
Income from Trust LLC	(82,579)	(93,846)
Amortization of bond premium, net	33,267	41,349
Proceeds from sales of loans held for sale	4,753,088	4,455,158
Originations of loans held for sale	(3,977,378)	(5,681,534)
Increase in taxes payable	273,795	272,734
Increase in interest receivable	(431,151)	(360,314)
Decrease in mortgage servicing rights	14,097	5,497
Decrease (increase) in other assets	177,535	(292,098)
Increase in cash surrender value of BOLI	(26,103)	(26,509)
Amortization of core deposit intangible	68,175	68,175
Amortization of limited partnerships	146,490	141,333
Decrease (increase) in unamortized loan costs	1,441	(555)
Increase (decrease) in interest payable	8,675	(861)
Decrease in accrued expenses	(359,833)	(560,280)
Increase in other liabilities	17,125	472
Net cash provided by (used in) operating activities	2,007,028	(670,784)
Investments - held-to-maturity
Maturities and pay downs	1,630,861	2,159,253
Purchases	(3,828,156)	(3,180,291)
Investments - available-for-sale Maturities, calls, pay downs and sales	1,406,742	1,301,984
Purchases	(4,206,847)	0
Proceeds from redemption of restricted equity securities	550,400	0
Decrease (increase) in loans, net	2,648,313	(4,915,561)
Capital expenditures of bank premises and equipment	(43,238)	(612,753)
Proceeds from sales of OREO	192,108	70,551
Recoveries of loans charged off	25,433	23,597
Net cash used in investing activities	(1,624,384)	(5,153,220)
Cash Flows from Financing Activities:
Net decrease in demand and interest-bearing transaction accounts	(16,033,104)	(17,752,545)
Net increase in money market and savings accounts	8,317,948	4,433,418
Net increase (decrease) in time deposits	1,129,730	(2,581,067)
Net increase (decrease) in repurchase agreements	3,075,801	(313,325)
Net increase in short-term borrowings	0	15,000,000
Proceeds from long-term borrowings	350,000	0
Decrease in capital lease obligations	(21,337)	(19,686)
Dividends paid on preferred stock	(21,875)	(20,313)
Dividends paid on common stock	(579,027)	(552,216)
Net cash used in financing activities	(3,781,864)	(1,805,734)
Net decrease in cash and cash equivalents	(3,399,220)	(7,629,738)
Cash and cash equivalents:
Beginning	28,851,890	24,962,174
Ending	25,452,670	17,332,436
Supplemental Schedule of Cash Paid During the Period:
Interest	654,587	728,375
Income taxes, net of refunds	50,000	50,000
Supplemental Schedule of Noncash Investing and Financing Activities:
Change in unrealized gain on securities available-for-sale	334,883	203,004
Loans transferred to OREO	395,108	70,500
Common Shares Dividends Paid:
Dividends declared	799,182	789,242
(Increase) decrease in dividends payable attributable to dividends declared	(914)	917
Dividends reinvested	(219,241)	(237,943)
Total	$ 579,027	$ 552,216

1. Basis of Presentation and Co

1. Basis of Presentation and Consolidation	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Note 1. Basis of Presentation and Consolidation	The interim consolidated financial statements of Community Bancorp. and Subsidiary are unaudited. All significant intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments necessary for the fair presentation of the financial condition and results of operations of the Company contained herein have been made. The unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2015 contained in the Company's Annual Report on Form 10-K. The results of operations for the interim period are not necessarily indicative of the results of operations to be expected for the full annual period ending December 31, 2016, or for any other interim period. Certain amounts in the 2015 unaudited consolidated income statements have been reclassified to conform to the 2016 presentation. Reclassifications had no effect on prior period net income or shareholders’ equity.

2. Recent Accounting Developmen

2. Recent Accounting Developments	3 Months Ended
	Mar. 31, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Note 2. Recent Accounting Developments	In January 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 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

3. Earnings per Common Share

3. Earnings per Common Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Note 3. Earnings per Common Share	Earnings per common share amounts are computed based on the weighted average number of shares of common stock issued during the period (retroactively adjusted for stock splits and stock dividends, if any), including Dividend Reinvestment Plan shares issuable upon reinvestment of dividends declared, and reduced for shares held in treasury. The following tables illustrate the calculation of earnings per common share for the periods presented, as adjusted for the cash dividends declared on the preferred stock: Three Months Ended March 31, 2016 2015 Net income, as reported $ 1,169,494 $ 1,109,841 Less: dividends to preferred shareholders 21,875 20,313 Net income available to common shareholders $ 1,147,619 $ 1,089,528 Weighted average number of common shares used in calculating earnings per share 5,000,144 4,938,500 Earnings per common share $ 0.23 $ 0.22

4. Investment Securities

4. Investment Securities	3 Months Ended
	Mar. 31, 2016
Investment Securities
Note 4. Investment Securities	Securities available-for-sale (AFS) and held-to-maturity (HTM) as of the balance sheet dates consisted of the following: Gross Gross Amortized Unrealized Unrealized Fair Securities AFS Cost Gains Losses Value March 31, 2016 U.S. Government sponsored enterprise (GSE) debt securities $ 12,817,362 $ 115,533 $ 0 $ 12,932,895 Agency mortgage-backed securities (Agency MBS) 13,515,656 105,722 15,674 13,605,704 Other investments 2,973,000 60,522 0 3,033,522 $ 29,306,018 $ 281,777 $ 15,674 $ 29,572,121 December 31, 2015 U.S. GSE debt securities $ 12,832,059 $ 22,523 $ 22,139 $ 12,832,443 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 March 31, 2015 U.S. GSE debt securities $ 18,904,234 $ 102,297 $ 2,553 $ 19,003,978 U.S. Government securities 3,994,362 14,115 0 4,008,477 Agency MBS 8,716,244 77,867 0 8,794,111 $ 31,614,840 $ 194,279 $ 2,553 $ 31,806,566 Gross Gross Amortized Unrealized Unrealized Fair Securities HTM Cost Gains Losses Value* March 31, 2016 States and political subdivisions $ 45,551,714 $ 683,286 $ 0 $ 46,235,000 December 31, 2015 States and political subdivisions $ 43,354,419 $ 788,581 $ 0 $ 44,143,000 March 31, 2015 States and political subdivisions $ 42,831,982 $ 350,018 $ 0 $ 43,182,000 *Method used to determine fair value of HTM securities rounds values to nearest thousand. U.S. GSE debt securities, Agency MBS securities and certificates of deposit (CDs) held for investment with a book value of $27,172,084 and a fair value of $27,450,798 collateralized repurchase agreements at March 31, 2016. These repurchase agreements mature daily. The scheduled maturities of debt securities AFS were as follows: Amortized Fair Cost Value March 31, 2016 Due in one year or less $ 3,063,730 $ 3,071,337 Due from one to five years 12,481,632 12,650,080 Due from five to ten years 245,000 245,000 Agency MBS 13,515,656 13,605,704 $ 29,306,018 $ 29,572,121 December 31, 2015 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 Agency MBS 10,734,121 10,664,484 $ 26,539,180 $ 26,470,400 March 31, 2015 Due in one year or less $ 4,016,828 $ 4,021,755 Due from one to five years 18,881,768 18,990,700 Agency MBS 8,716,244 8,794,111 $ 31,614,840 $ 31,806,566 Because the actual maturities of Agency MBS usually differ from their contractual maturities due to the right of borrowers to prepay the underlying mortgage loans, usually without penalty, those securities are not presented in the table by contractual maturity date. The scheduled maturities of debt securities HTM were as follows: Amortized Fair Cost Value* March 31, 2016 Due in one year or less $ 30,042,445 $ 30,042,000 Due from one to five years 3,864,268 4,035,000 Due from five to ten years 3,235,317 3,407,000 Due after ten years 8,409,684 8,751,000 $ 45,551,714 $ 46,235,000 December 31, 2015 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 March 31, 2015 Due in one year or less $ 29,485,512 $ 29,486,000 Due from one to five years 4,419,264 4,506,000 Due from five to ten years 2,246,370 2,334,000 Due after ten years 6,680,836 6,856,000 $ 42,831,982 $ 43,182,000 *Method used to determine fair value of HTM securities rounds values to nearest thousand. There were no debt securities HTM in an unrealized loss position as of the balance sheet dates. Debt securities AFS with unrealized losses as of the balance sheet dates are presented in the table below. Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss March 31, 2016 Agency MBS $ 3,064,237 $ 15,674 $ 0 $ 0 $ 3,064,237 $ 15,674 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 March 31, 2015 U.S. GSE debt securities $ 0 $ 0 $ 997,447 $ 2,553 $ 997,447 $ 2,553 Debt securities in the table above consisted of five Agency MBS securities at March 31, 2016, six U.S. GSE debt securities, twelve Agency MBS and six certificates of deposit (CDs) held for investment at December 31, 2015, and one U.S. GSE debt security at March 31, 2015. The unrealized losses for all periods presented were principally attributable to changes in prevailing interest rates for similar types of securities and not deterioration in the creditworthiness of the issuer. Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market conditions, or adverse developments relating to the issuer, warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than the carrying value, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment for a period of time sufficient to allow for any anticipated recovery in fair value. In analyzing an issuer's financial condition, management considers whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies or other adverse developments in the status of the securities have occurred, and the results of reviews of the issuer's financial condition. As of March 31, 2016, there were no declines in the fair value of any of the securities reflected in the table above that were deemed by management to be other than temporary.

5. Loans, Allowance for Loan Lo

5. Loans, Allowance for Loan Losses and Credit Quality	3 Months Ended
	Mar. 31, 2016
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Note 5. Loans, Allowance for Loan Losses and Credit Quality	The composition of net loans as of the balance sheet dates was as follows: March 31, December 31, March 31, 2016 2015 2015 Commercial & industrial $ 63,540,340 $ 65,191,124 $ 67,447,337 Commercial real estate 178,205,320 178,206,542 171,453,104 Residential real estate - 1st lien 162,594,375 162,760,273 161,594,311 Residential real estate - Jr lien 43,917,725 44,720,266 44,678,956 Consumer 6,790,425 7,241,224 7,399,886 455,048,185 458,119,429 452,573,594 Deduct (add): Allowance for loan losses 5,109,488 5,011,878 5,003,049 Deferred net loan costs (315,050 ) (316,491 ) (303,949 ) 4,794,438 4,695,387 4,699,100 Net Loans $ 450,253,747 $ 453,424,042 $ 447,874,494 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 March 31, 2016 30-89 Days or More Past Due Current Total Loans Loans and Accruing Commercial & industrial $ 37,333 $ 204,354 $ 241,687 $ 63,298,653 $ 63,540,340 $ 256,456 $ 0 Commercial real estate 3,825,884 428,545 4,254,429 173,950,891 178,205,320 966,071 19,810 Residential real estate - 1st lien 3,950,062 991,614 4,941,676 157,652,699 162,594,375 1,467,171 764,031 - Jr lien 228,117 122,183 350,300 43,567,425 43,917,725 377,911 122,183 Consumer 152,546 0 152,546 6,637,879 6,790,425 0 0 Total $ 8,193,942 $ 1,746,696 $ 9,940,638 $ 445,107,547 $ 455,048,185 $ 3,067,609 $ 906,024 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 March 31, 2015 30-89 Days or More Past Due Current Total Loans Loans and Accruing Commercial & industrial $ 368,737 $ 385,212 $ 753,949 $ 66,693,388 $ 67,447,337 $ 945,226 $ 0 Commercial real estate 840,817 5,313 846,130 170,606,974 171,453,104 2,174,472 5,313 Residential real estate - 1st lien 4,663,341 681,381 5,344,722 156,249,589 161,594,311 1,420,371 316,165 - Jr lien 420,073 13,375 433,448 44,245,508 44,678,956 382,451 13,375 Consumer 72,479 7,580 80,059 7,319,827 7,399,886 0 7,580 Total $ 6,365,447 $ 1,092,861 $ 7,458,308 $ 445,115,286 $ 452,573,594 $ 4,922,520 $ 342,433 For all loan segments, loans over 30 days past due are considered delinquent. As of March 31, 2016, there were five residential mortgage loans in process of foreclosure totaling $230,171, compared to five residential mortgage loans totaling $400,905 as of December 31, 2015, and four residential mortgages loans totaling $416,901 as of March 31, 2015. 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 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 year over year, they are considered by management to be appropriate in light of the Company’s continued growth strategy and shift in the portfolio from residential loans to commercial and commercial real estate loans and the risk associated with the relatively new, unseasoned loans in those portfolios. The tables below summarize changes in the allowance for loan losses and select loan information, by portfolio segment, for the periods indicated. The amounts shown below as of March 31, 2016 and December 31, 2015 and for the respective three and twelve month periods then ended reflect certain changes to the Company’s reserve methodology adopted during the second quarter of 2015, which were described in the Company’s 2015 Annual Report on Form 10-K. As of or for the three months ended March 31, 2016 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Unallocated Total Allowance for loan losses Beginning balance $ 712,902 $ 2,152,678 $ 1,368,028 $ 422,822 $ 75,689 $ 279,759 $ 5,011,878 Charge-offs (10,836 ) 0 (312 ) 0 (16,675 ) 0 (27,823 ) Recoveries 19,295 0 312 60 5,766 0 25,433 Provision (credit) 9,014 142,625 (29,101 ) 143 (6,324 ) (16,357 ) 100,000 Ending balance $ 730,375 $ 2,295,303 $ 1,338,927 $ 423,025 $ 58,456 $ 263,402 $ 5,109,488 Allowance for loan losses Evaluated for impairment Individually $ 0 $ 0 $ 0 $ 117,700 $ 0 $ 0 $ 117,700 Collectively 730,375 2,295,303 1,338,927 305,325 58,456 263,402 4,991,788 Total $ 730,375 $ 2,295,303 $ 1,338,927 $ 423,025 $ 58,456 $ 263,402 $ 5,109,488 Loans evaluated for impairment Individually $ 204,354 $ 907,309 $ 717,673 $ 231,591 $ 0 $ 2,060,927 Collectively 63,335,986 177,298,011 161,876,702 43,686,134 6,790,425 452,987,258 Total $ 63,540,340 $ 178,205,320 $ 162,594,375 $ 43,917,725 $ 6,790,425 $ 455,048,185 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 three months ended March 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 (35,059 ) 0 (15,874 ) (20,199 ) (5,290 ) 0 (76,422 ) Recoveries 5,607 0 6,042 60 11,888 0 23,597 Provision (credit) 133,224 13,175 61,083 20,447 (39,333 ) (38,596 ) 150,000 Ending balance $ 750,491 $ 2,325,111 $ 1,322,017 $ 321,407 $ 86,084 $ 197,939 $ 5,003,049 Allowance for loan losses Evaluated for impairment Individually $ 70,200 $ 0 $ 59,100 $ 10,900 $ 0 $ 0 $ 140,200 Collectively 680,291 2,325,111 1,262,917 310,507 86,084 197,939 4,862,849 Total $ 750,491 $ 2,325,111 $ 1,322,017 $ 321,407 $ 86,084 $ 197,939 $ 5,003,049 Loans evaluated for impairment Individually $ 702,732 $ 2,107,787 $ 820,565 $ 308,036 $ 0 $ 3,939,120 Collectively 66,744,605 169,345,317 160,773,746 44,370,920 7,399,886 448,634,474 Total $ 67,447,337 $ 171,453,104 $ 161,594,311 $ 44,678,956 $ 7,399,886 $ 452,573,594 Impaired loans, by portfolio segment, were as follows: As of March 31, 2016 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment(1) With an allowance recorded Residential real estate - 1st lien $ 0 $ 0 $ 0 $ 86,894 Residential real estate - Jr lien 231,591 284,287 117,700 232,798 231,591 284,287 117,700 319,692 With no related allowance recorded Commercial & industrial 204,354 272,017 245,395 Commercial real estate 907,309 957,229 1,729,529 Residential real estate - 1st lien 717,673 803,505 981,847 1,829,336 2,032,751 2,956,771 Total $ 2,060,927 $ 2,317,038 $ 117,700 $ 3,276,463 (1) For the three months ended March 31, 2016 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 March 31, 2015 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment(1) With an allowance recorded Commercial & industrial $ 94,855 $ 94,855 $ 70,200 $ 47,428 Commercial real estate 0 0 0 102,256 Residential real estate - 1st lien 355,885 383,523 59,100 235,497 Residential real estate - Jr lien 67,106 76,631 10,900 33,553 $ 517,846 $ 555,009 $ 140,200 $ 418,734 With no related allowance recorded Commercial & industrial $ 607,877 $ 657,443 $ 499,241 Commercial real estate 2,107,787 2,296,957 1,917,135 Residential real estate - 1st lien 464,680 531,386 535,407 Residential real estate - Jr lien 240,930 284,202 284,910 $ 3,421,274 $ 3,769,988 $ 3,236,693 Total $ 3,939,120 $ 4,324,997 $ 140,200 $ 3,655,427 (1) For the three months ended March 31, 2015 Interest income recognized on impaired loans was immaterial for all periods presented. For all loan segments, the accrual of interest is discontinued when a loan is specifically determined to be impaired or when the loan is delinquent 90 days and management believes, after considering collection efforts and other factors, that the borrower's financial condition is such that collection of interest is considered by management to be doubtful. Any unpaid interest previously accrued on those loans is reversed from income. Interest income is generally not recognized on specific impaired loans unless the likelihood of further loss is considered by management to be remote. Interest payments received on impaired loans are generally applied as a reduction of the loan principal balance. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are considered by management to be reasonably assured. As of the balance sheet dates, the Company was not contractually committed to lend additional funds to debtors with impaired, non-accrual or restructured loans. Credit Quality Grouping In developing the allowance for loan losses, management uses credit quality grouping to help evaluate trends in credit quality. The Company groups credit risk into Groups A, B and C. The manner the Company utilizes to assign risk grouping is driven by loan purpose. Commercial purpose loans are individually risk graded while the retail portion of the portfolio is generally grouped by delinquency pool. Group A loans - Acceptable Risk Group B loans – Management Involved Group C loans – Unacceptable Risk Commercial purpose loan ratings are assigned by the commercial account officer; for larger and more complex commercial loans, the credit rating is a collaborative assignment by the lender and the credit analyst. The credit risk rating is based on the borrower's expected performance, i.e., the likelihood that the borrower will be able to service its obligations in accordance with the loan terms. Credit risk ratings are meant to measure risk versus simply record history. Assessment of expected future payment performance requires consideration of numerous factors. While past performance is part of the overall evaluation, expected performance is based on an analysis of the borrower's financial strength, and historical and projected factors such as size and financing alternatives, capacity and cash flow, balance sheet and income statement trends, the quality and timeliness of financial reporting, and the quality of the borrower’s management. Other factors influencing the credit risk rating to a lesser degree include collateral coverage and control, guarantor strength and commitment, documentation, structure and covenants and industry conditions. There are uncertainties inherent in this process. Credit risk ratings are dynamic and require updating whenever relevant information is received. The risk ratings of larger or more complex loans, and Group B and C rated loans, are assessed at the time of their respective annual reviews, during quarterly updates, in action plans or at any other time that relevant information warrants update. Lenders are required to make immediate disclosure to the Chief Credit Officer of any known increase in loan risk, even if considered temporary in nature. The risk ratings within the loan portfolio, by segment, as of the balance sheet dates were as follows: As of March 31, 2016 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Total Group A $ 58,289,285 $ 165,816,389 $ 159,255,456 $ 43,197,130 $ 6,790,425 $ 433,348,685 Group B 4,448,662 4,638,741 593,394 184,734 0 9,865,531 Group C 802,393 7,750,190 2,745,525 535,861 0 11,833,969 Total $ 63,540,340 $ 178,205,320 $ 162,594,375 $ 43,917,725 $ 6,790,425 $ 455,048,185 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 March 31, 2015 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Total Group A $ 63,693,155 $ 160,845,487 $ 158,579,882 $ 43,991,054 $ 7,392,306 $ 434,501,884 Group B 2,900,660 4,873,360 233,858 269,395 0 8,277,273 Group C 853,522 5,734,257 2,780,571 418,507 7,580 9,794,437 Total $ 67,447,337 $ 171,453,104 $ 161,594,311 $ 44,678,956 $ 7,399,886 $ 452,573,594 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. New TDRs, by portfolio segment, during the periods presented were as follows: Three months ended March 31, 2016 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment Residential real estate - 1st lien 5 $ 395,236 $ 412,923 Residential real estate - Jr lien 1 10,261 10,340 Total 6 $ 405,497 $ 423,263 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 Three months ended March 31, 2015 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment Residential real estate - 1st lien 5 $ 344,329 $ 360,905 Residential real estate - Jr lien 2 117,745 121,673 Total 7 $ 462,074 $ 482,578 The TDR’s for which there was a payment default during the twelve month periods presented were as follows: Twelve months ended March 31, 2016 Number of Recorded Contracts Investment Commercial 1 $ 79,158 Commercial real estate 1 146,519 Residential real estate - 1st lien 1 59,838 Total 3 $ 285,515 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 Twelve months ended March 31, 2015 Number of Recorded Contracts Investment Residential real estate - 1st lien 4 $ 306,874 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 allocation related to TDRs was approximately $25,100. There was no specific allowance related to TDRs at March 31, 2016 and 2015. As of the balance sheet dates, the Company was not contractually committed to lend additional funds to debtors with impaired, non-accrual or modified loans.

6. Goodwill and Other Intangibl

6. Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2016
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 $3,683,789 and $3,411,094 as of March 31, 2016 and 2015, respectively. Amortization expense for the core deposit intangible for the first three months of 2016 and 2015 was $68,175. As of March 31, 2016, the remaining annual amortization expense related to the core deposit intangible, absent any future impairment, is expected to be as follows: 2016 $ 204,520 2017 272,691 Total remaining core deposit intangible $ 477,211 Management evaluates goodwill for impairment annually and the core deposit intangible for impairment if conditions warrant. As of the date of the most recent evaluation (December 31, 2015), management concluded that no impairment existed in either category.

7. Fair Value

7. Fair Value	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Note 7. Fair Value	Certain assets and liabilities are recorded at fair value to provide additional insight into the Company’s quality of earnings. The fair values of some of these assets and liabilities are measured on a recurring basis while others are measured on a non-recurring basis, with the determination based upon applicable existing accounting pronouncements. For example, securities available-for-sale are recorded at fair value on a recurring basis. Other assets, such as mortgage servicing rights, loans held-for-sale, impaired loans, and OREO are recorded at fair value on a non-recurring basis using the lower of cost or market methodology to determine impairment of individual assets. The Company groups assets and liabilities which are recorded at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. The level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement (with Level 1 considered highest and Level 3 considered lowest). A brief description of each level follows. Level 1 Quoted prices in active markets for identical assets or liabilities. Level 1 assets and liabilities include debt and equity securities and derivative contracts that are traded in an active exchange market, as well as U.S. Treasury, other U.S. Government debt securities that are highly liquid and are actively traded in over-the-counter markets. Level 2 Observable inputs other than Level 1 prices such as quoted prices for similar assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include debt securities with quoted prices that are traded less frequently than exchange-traded instruments and derivative contracts whose value is determined using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data. This category generally includes mortgage servicing rights, impaired loans and OREO. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. The following methods and assumptions were used by the Company in estimating its fair value measurements and disclosures: Cash and cash equivalents: Securities available-for-sale and held-to-maturity: Restricted equity securities: Loans and loans held-for-sale: The fair value of loans held-for-sale is based upon an actual purchase and sale agreement between the Company and an independent market participant. The sale is executed within a reasonable period following quarter end at the stated fair value. Mortgage servicing rights: OREO: Deposits, federal funds purchased and borrowed funds: Capital lease obligations: Junior subordinated debentures: Accrued interest: Off-balance-sheet credit related instruments: FASB Accounting Standards Codification Topic 825, “Financial Instruments”, requires disclosures of fair value information about financial instruments, whether or not recognized in the balance sheet, if the fair values can be reasonably determined. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques using observable inputs when available. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. Topic 825 excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Company. Assets and Liabilities Recorded at Fair Value on a Recurring Basis Assets measured at fair value on a recurring basis and reflected in the consolidated balance sheets at the dates presented, segregated by fair value hierarchy, are summarized below: March 31, 2016 Level 2 Assets: (market approach) U.S. GSE debt securities $ 12,932,895 Agency MBS 13,605,704 Other investments 3,033,522 Total $ 29,572,121 December 31, 2015 Level 2 Assets: (market approach) U.S. GSE debt securities $ 12,832,443 Agency MBS 10,664,484 Other investments 2,973,473 Total $ 26,470,400 March 31, 2015 Level 1 Level 2 Assets: (market approach) U.S. GSE debt securities $ 0 $ 19,003,978 U.S. Government securities 4,008,477 0 Agency MBS 0 8,794,111 Total $ 4,008,477 $ 27,798,089 There were no transfers between Levels 1 and 2 for the periods presented. There were no Level 1 assets or liabilities measured on a recurring basis as of March 31, 2016 and December 31, 2015, and there were no Level 3 assets or liabilities measured on a recurring basis as of the balance sheet dates presented. Assets and Liabilities Recorded at Fair Value on a Non-Recurring Basis The following table includes assets measured at fair value on a non-recurring basis that have had a fair value adjustment since their initial recognition. Impaired loans measured at fair value only include impaired loans with a related specific allowance for loan losses and are presented net of specific allowances as disclosed in Note 5. Assets measured at fair value on a non-recurring basis and reflected in the consolidated balance sheets at the dates presented, segregated by fair value hierarchy, are summarized below: March 31, 2016 Level 2 Assets: (market approach) Residential mortgage servicing rights $ 1,278,982 Impaired loans, net of related allowance 113,891 OREO 465,000 December 31, 2015 Assets: (market approach) Residential mortgage servicing rights $ 1,293,079 Impaired loans, net of related allowance 268,092 OREO 262,000 March 31, 2015 Assets: (market approach) Residential mortgage servicing rights $ 1,306,468 Impaired loans, net of related allowance 377,646 OREO 1,238,320 There were no Level 1 or Level 3 assets or liabilities measured on a non-recurring basis as of the balance sheet dates presented. The estimated fair values of commitments to extend credit and letters of credit were immaterial as of the dates presented in the tables below. The estimated fair values of the Company's financial instruments were as follows: March 31, 2016 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 $ 25,453 $ 25,453 $ 0 $ 0 $ 25,453 Securities held-to-maturity 45,552 0 46,235 0 46,235 Securities available-for-sale 29,572 0 29,572 0 29,572 Restricted equity securities 1,891 0 1,891 0 1,891 Loans and loans held-for-sale Commercial & industrial 62,773 0 204 63,772 63,976 Commercial real estate 175,807 0 907 180,164 181,071 Residential real estate - 1st lien 161,686 0 718 165,571 166,289 Residential real estate - Jr lien 43,470 0 114 44,085 44,199 Consumer 6,728 0 0 7,021 7,021 Mortgage servicing rights 1,279 0 1,497 0 1,497 Accrued interest receivable 2,064 0 2,064 0 2,064 Financial liabilities: Deposits Other deposits 468,288 0 468,451 0 468,451 Brokered deposits 20,612 0 20,618 0 20,618 Federal funds purchased and short-term borrowings 10,000 0 10,000 0 10,000 Long-term borrowings 350 0 324 0 324 Repurchase agreements 25,149 0 25,149 0 25,149 Capital lease obligations 537 0 537 0 537 Subordinated debentures 12,887 0 12,516 0 12,516 Accrued interest payable 61 0 61 0 61 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 March 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 $ 17,332 $ 17,332 $ 0 $ 0 $ 17,332 Securities held-to-maturity 42,832 0 43,182 0 43,182 Securities available-for-sale 31,807 4,009 27,798 0 31,807 Restricted equity securities 3,332 0 3,332 0 3,332 Loans and loans held-for-sale Commercial & industrial 66,667 0 633 67,521 68,154 Commercial real estate 169,053 0 2,108 172,762 174,870 Residential real estate - 1st lien 161,528 0 761 165,294 166,055 Residential real estate - Jr lien 44,338 0 297 44,975 45,272 Consumer 7,311 0 0 7,664 7,664 Mortgage servicing rights 1,306 0 1,452 0 1,452 Accrued interest receivable 2,059 0 2,059 0 2,059 Financial liabilities: Deposits Other deposits 461,001 0 458,526 0 458,526 Brokered deposits 16,118 0 18,742 0 18,742 Federal funds purchased and short-term borrowings 15,000 0 15,000 0 15,000 Repurchase agreements 28,230 0 28,230 0 28,230 Capital lease obligations 620 0 620 0 620 Subordinated debentures 12,887 0 12,865 0 12,865 Accrued interest payable 63 0 63 0 63

8. Loan Servicing

8. Loan Servicing	3 Months Ended
	Mar. 31, 2016
Transfers and Servicing of Financial Assets [Abstract]
Note 8. Loan Servicing	The following table shows the changes in the carrying amount of the mortgage servicing rights, included in other assets in the consolidated balance sheets, for the periods indicated: Three Months Ended March 31, 2016 Year Ended December 31, 2015 Three Months Ended March 31, 2015 Balance at beginning of year $ 1,293,079 $ 1,311,965 $ 1,311,965 Mortgage servicing rights capitalized 41,424 230,818 55,669 Mortgage servicing rights amortized (63,035 ) (257,921 ) (69,383 ) Change in valuation allowance 7,514 8,217 8,217 Balance at end of period $ 1,278,982 $ 1,293,079 $ 1,306,468

9. Legal Proceedings

9. Legal Proceedings	3 Months Ended
	Mar. 31, 2016
Legal Proceedings
Note 9. Legal Proceedings	In the normal course of business, the Company and its subsidiary are involved in litigation that is considered incidental to their business. Management does not expect that any such litigation will be material to the Company's consolidated financial condition or results of operations.

10. Subsequent Event

10. Subsequent Event	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Note 10. Subsequent Event	The Company has evaluated events and transactions through the date that the financial statements were issued for potential recognition or disclosure in these financial statements, as required by U.S. GAAP. On March 9, 2016, the Company declared a cash dividend of $0.16 per common share payable May 1, 2016 to shareholders of record as of April 15, 2016. This dividend, amounting to $799,182, was accrued at March 31, 2016.

1. Basis of Presentation and 17

1. Basis of Presentation and Consolidation (Policies)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Consolidation	The interim consolidated financial statements of Community Bancorp. and Subsidiary are unaudited. All significant intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments necessary for the fair presentation of the financial condition and results of operations of the Company contained herein have been made. The unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2015 contained in the Company's Annual Report on Form 10-K. The results of operations for the interim period are not necessarily indicative of the results of operations to be expected for the full annual period ending December 31, 2016, or for any other interim period. Certain amounts in the 2015 unaudited consolidated income statements have been reclassified to conform to the 2016 presentation. Reclassifications had no effect on prior period net income or shareholders’ equity.
Recent Accounting Developments	In January 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 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

3. Earnings per Common Share (T

3. Earnings per Common Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule Of Earnings Per Share	Three Months Ended March 31, 2016 2015 Net income, as reported $ 1,169,494 $ 1,109,841 Less: dividends to preferred shareholders 21,875 20,313 Net income available to common shareholders $ 1,147,619 $ 1,089,528 Weighted average number of common shares used in calculating earnings per share 5,000,144 4,938,500 Earnings per common share $ 0.23 $ 0.22

4. Investment Securities (Table

4. Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2016
Investment Securities
Schedule Of Available For Sale Securities	Gross Gross Amortized Unrealized Unrealized Fair Securities AFS Cost Gains Losses Value March 31, 2016 U.S. Government sponsored enterprise (GSE) debt securities $ 12,817,362 $ 115,533 $ 0 $ 12,932,895 Agency mortgage-backed securities (Agency MBS) 13,515,656 105,722 15,674 13,605,704 Other investments 2,973,000 60,522 0 3,033,522 $ 29,306,018 $ 281,777 $ 15,674 $ 29,572,121 December 31, 2015 U.S. GSE debt securities $ 12,832,059 $ 22,523 $ 22,139 $ 12,832,443 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 March 31, 2015 U.S. GSE debt securities $ 18,904,234 $ 102,297 $ 2,553 $ 19,003,978 U.S. Government securities 3,994,362 14,115 0 4,008,477 Agency MBS 8,716,244 77,867 0 8,794,111 $ 31,614,840 $ 194,279 $ 2,553 $ 31,806,566
Schedule Of Held to Maturity Securities	Gross Gross Amortized Unrealized Unrealized Fair Securities HTM Cost Gains Losses Value* March 31, 2016 States and political subdivisions $ 45,551,714 $ 683,286 $ 0 $ 46,235,000 December 31, 2015 States and political subdivisions $ 43,354,419 $ 788,581 $ 0 $ 44,143,000 March 31, 2015 States and political subdivisions $ 42,831,982 $ 350,018 $ 0 $ 43,182,000
Schedule of Maturities of Debt Securities Available for Sale	Amortized Fair Cost Value March 31, 2016 Due in one year or less $ 3,063,730 $ 3,071,337 Due from one to five years 12,481,632 12,650,080 Due from five to ten years 245,000 245,000 Agency MBS 13,515,656 13,605,704 $ 29,306,018 $ 29,572,121 December 31, 2015 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 Agency MBS 10,734,121 10,664,484 $ 26,539,180 $ 26,470,400 March 31, 2015 Due in one year or less $ 4,016,828 $ 4,021,755 Due from one to five years 18,881,768 18,990,700 Agency MBS 8,716,244 8,794,111 $ 31,614,840 $ 31,806,566
Schedule Of Maturities of Debt Securities Held to Maturity	Amortized Fair Cost Value* March 31, 2016 Due in one year or less $ 30,042,445 $ 30,042,000 Due from one to five years 3,864,268 4,035,000 Due from five to ten years 3,235,317 3,407,000 Due after ten years 8,409,684 8,751,000 $ 45,551,714 $ 46,235,000 December 31, 2015 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 March 31, 2015 Due in one year or less $ 29,485,512 $ 29,486,000 Due from one to five years 4,419,264 4,506,000 Due from five to ten years 2,246,370 2,334,000 Due after ten years 6,680,836 6,856,000 $ 42,831,982 $ 43,182,000
Schedule Of Unrealized Loss	Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Fair Unrealized Value Loss Value Loss Value Loss March 31, 2016 Agency MBS $ 3,064,237 $ 15,674 $ 0 $ 0 $ 3,064,237 $ 15,674 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 March 31, 2015 U.S. GSE debt securities $ 0 $ 0 $ 997,447 $ 2,553 $ 997,447 $ 2,553

5. Loans, Allowance for Loan 20

5. Loans, Allowance for Loan Losses and Credit Quality (Tables)	3 Months Ended
	Mar. 31, 2016
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Composition of net loans	March 31, December 31, March 31, 2016 2015 2015 Commercial & industrial $ 63,540,340 $ 65,191,124 $ 67,447,337 Commercial real estate 178,205,320 178,206,542 171,453,104 Residential real estate - 1st lien 162,594,375 162,760,273 161,594,311 Residential real estate - Jr lien 43,917,725 44,720,266 44,678,956 Consumer 6,790,425 7,241,224 7,399,886 455,048,185 458,119,429 452,573,594 Deduct (add): Allowance for loan losses 5,109,488 5,011,878 5,003,049 Deferred net loan costs (315,050 ) (316,491 ) (303,949 ) 4,794,438 4,695,387 4,699,100 Net Loans $ 450,253,747 $ 453,424,042 $ 447,874,494
Past due loans by segment	90 Days or 90 Days Total Non-Accrual More March 31, 2016 30-89 Days or More Past Due Current Total Loans Loans and Accruing Commercial & industrial $ 37,333 $ 204,354 $ 241,687 $ 63,298,653 $ 63,540,340 $ 256,456 $ 0 Commercial real estate 3,825,884 428,545 4,254,429 173,950,891 178,205,320 966,071 19,810 Residential real estate - 1st lien 3,950,062 991,614 4,941,676 157,652,699 162,594,375 1,467,171 764,031 - Jr lien 228,117 122,183 350,300 43,567,425 43,917,725 377,911 122,183 Consumer 152,546 0 152,546 6,637,879 6,790,425 0 0 Total $ 8,193,942 $ 1,746,696 $ 9,940,638 $ 445,107,547 $ 455,048,185 $ 3,067,609 $ 906,024 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 March 31, 2015 30-89 Days or More Past Due Current Total Loans Loans and Accruing Commercial & industrial $ 368,737 $ 385,212 $ 753,949 $ 66,693,388 $ 67,447,337 $ 945,226 $ 0 Commercial real estate 840,817 5,313 846,130 170,606,974 171,453,104 2,174,472 5,313 Residential real estate - 1st lien 4,663,341 681,381 5,344,722 156,249,589 161,594,311 1,420,371 316,165 - Jr lien 420,073 13,375 433,448 44,245,508 44,678,956 382,451 13,375 Consumer 72,479 7,580 80,059 7,319,827 7,399,886 0 7,580 Total $ 6,365,447 $ 1,092,861 $ 7,458,308 $ 445,115,286 $ 452,573,594 $ 4,922,520 $ 342,433
Changes in the allowance for loan losses	As of or for the three months ended March 31, 2016 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Unallocated Total Allowance for loan losses Beginning balance $ 712,902 $ 2,152,678 $ 1,368,028 $ 422,822 $ 75,689 $ 279,759 $ 5,011,878 Charge-offs (10,836 ) 0 (312 ) 0 (16,675 ) 0 (27,823 ) Recoveries 19,295 0 312 60 5,766 0 25,433 Provision (credit) 9,014 142,625 (29,101 ) 143 (6,324 ) (16,357 ) 100,000 Ending balance $ 730,375 $ 2,295,303 $ 1,338,927 $ 423,025 $ 58,456 $ 263,402 $ 5,109,488 Allowance for loan losses Evaluated for impairment Individually $ 0 $ 0 $ 0 $ 117,700 $ 0 $ 0 $ 117,700 Collectively 730,375 2,295,303 1,338,927 305,325 58,456 263,402 4,991,788 Total $ 730,375 $ 2,295,303 $ 1,338,927 $ 423,025 $ 58,456 $ 263,402 $ 5,109,488 Loans evaluated for impairment Individually $ 204,354 $ 907,309 $ 717,673 $ 231,591 $ 0 $ 2,060,927 Collectively 63,335,986 177,298,011 161,876,702 43,686,134 6,790,425 452,987,258 Total $ 63,540,340 $ 178,205,320 $ 162,594,375 $ 43,917,725 $ 6,790,425 $ 455,048,185 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 three months ended March 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 (35,059 ) 0 (15,874 ) (20,199 ) (5,290 ) 0 (76,422 ) Recoveries 5,607 0 6,042 60 11,888 0 23,597 Provision (credit) 133,224 13,175 61,083 20,447 (39,333 ) (38,596 ) 150,000 Ending balance $ 750,491 $ 2,325,111 $ 1,322,017 $ 321,407 $ 86,084 $ 197,939 $ 5,003,049 Allowance for loan losses Evaluated for impairment Individually $ 70,200 $ 0 $ 59,100 $ 10,900 $ 0 $ 0 $ 140,200 Collectively 680,291 2,325,111 1,262,917 310,507 86,084 197,939 4,862,849 Total $ 750,491 $ 2,325,111 $ 1,322,017 $ 321,407 $ 86,084 $ 197,939 $ 5,003,049 Loans evaluated for impairment Individually $ 702,732 $ 2,107,787 $ 820,565 $ 308,036 $ 0 $ 3,939,120 Collectively 66,744,605 169,345,317 160,773,746 44,370,920 7,399,886 448,634,474 Total $ 67,447,337 $ 171,453,104 $ 161,594,311 $ 44,678,956 $ 7,399,886 $ 452,573,594
Impaired loans by segment	As of March 31, 2016 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment(1) With an allowance recorded Residential real estate - 1st lien $ 0 $ 0 $ 0 $ 86,894 Residential real estate - Jr lien 231,591 284,287 117,700 232,798 231,591 284,287 117,700 319,692 With no related allowance recorded Commercial & industrial 204,354 272,017 245,395 Commercial real estate 907,309 957,229 1,729,529 Residential real estate - 1st lien 717,673 803,505 981,847 1,829,336 2,032,751 2,956,771 Total $ 2,060,927 $ 2,317,038 $ 117,700 $ 3,276,463 (1) For the three months ended March 31, 2016 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 March 31, 2015 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment(1) With an allowance recorded Commercial & industrial $ 94,855 $ 94,855 $ 70,200 $ 47,428 Commercial real estate 0 0 0 102,256 Residential real estate - 1st lien 355,885 383,523 59,100 235,497 Residential real estate - Jr lien 67,106 76,631 10,900 33,553 $ 517,846 $ 555,009 $ 140,200 $ 418,734 With no related allowance recorded Commercial & industrial $ 607,877 $ 657,443 $ 499,241 Commercial real estate 2,107,787 2,296,957 1,917,135 Residential real estate - 1st lien 464,680 531,386 535,407 Residential real estate - Jr lien 240,930 284,202 284,910 $ 3,421,274 $ 3,769,988 $ 3,236,693 Total $ 3,939,120 $ 4,324,997 $ 140,200 $ 3,655,427
Risk ratings	As of March 31, 2016 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Total Group A $ 58,289,285 $ 165,816,389 $ 159,255,456 $ 43,197,130 $ 6,790,425 $ 433,348,685 Group B 4,448,662 4,638,741 593,394 184,734 0 9,865,531 Group C 802,393 7,750,190 2,745,525 535,861 0 11,833,969 Total $ 63,540,340 $ 178,205,320 $ 162,594,375 $ 43,917,725 $ 6,790,425 $ 455,048,185 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 March 31, 2015 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Total Group A $ 63,693,155 $ 160,845,487 $ 158,579,882 $ 43,991,054 $ 7,392,306 $ 434,501,884 Group B 2,900,660 4,873,360 233,858 269,395 0 8,277,273 Group C 853,522 5,734,257 2,780,571 418,507 7,580 9,794,437 Total $ 67,447,337 $ 171,453,104 $ 161,594,311 $ 44,678,956 $ 7,399,886 $ 452,573,594
Loans modified as TDRs	Three months ended March 31, 2016 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment Residential real estate - 1st lien 5 $ 395,236 $ 412,923 Residential real estate - Jr lien 1 10,261 10,340 Total 6 $ 405,497 $ 423,263 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 Three months ended March 31, 2015 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment Residential real estate - 1st lien 5 $ 344,329 $ 360,905 Residential real estate - Jr lien 2 117,745 121,673 Total 7 $ 462,074 $ 482,578
TDRs payment default	Twelve months ended March 31, 2016 Number of Recorded Contracts Investment Commercial 1 $ 79,158 Commercial real estate 1 146,519 Residential real estate - 1st lien 1 59,838 Total 3 $ 285,515 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 Twelve months ended March 31, 2015 Number of Recorded Contracts Investment Residential real estate - 1st lien 4 $ 306,874

6. Goodwill and Other Intangi21

6. Goodwill and Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Future Amortization Expense	2016 $ 204,520 2017 272,691 Total remaining core deposit intangible $ 477,211

7. Fair Value (Tables)

7. Fair Value (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule Of Fair Value Assets and Liabilities On Recurring Basis	March 31, 2016 Level 2 Assets: (market approach) U.S. GSE debt securities $ 12,932,895 Agency MBS 13,605,704 Other investments 3,033,522 Total $ 29,572,121 December 31, 2015 Level 2 Assets: (market approach) U.S. GSE debt securities $ 12,832,443 Agency MBS 10,664,484 Other investments 2,973,473 Total $ 26,470,400 March 31, 2015 Level 1 Level 2 Assets: (market approach) U.S. GSE debt securities $ 0 $ 19,003,978 U.S. Government securities 4,008,477 0 Agency MBS 0 8,794,111 Total $ 4,008,477 $ 27,798,089
Schedule of Fair Value Assets and Liabilities Non-recurring Basis	March 31, 2016 Level 2 Assets: (market approach) Residential mortgage servicing rights $ 1,278,982 Impaired loans, net of related allowance 113,891 OREO 465,000 December 31, 2015 Assets: (market approach) Residential mortgage servicing rights $ 1,293,079 Impaired loans, net of related allowance 268,092 OREO 262,000 March 31, 2015 Assets: (market approach) Residential mortgage servicing rights $ 1,306,468 Impaired loans, net of related allowance 377,646 OREO 1,238,320
Schedule Of Estimated Fair Values Of Financial Instruments	March 31, 2016 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 $ 25,453 $ 25,453 $ 0 $ 0 $ 25,453 Securities held-to-maturity 45,552 0 46,235 0 46,235 Securities available-for-sale 29,572 0 29,572 0 29,572 Restricted equity securities 1,891 0 1,891 0 1,891 Loans and loans held-for-sale Commercial & industrial 62,773 0 204 63,772 63,976 Commercial real estate 175,807 0 907 180,164 181,071 Residential real estate - 1st lien 161,686 0 718 165,571 166,289 Residential real estate - Jr lien 43,470 0 114 44,085 44,199 Consumer 6,728 0 0 7,021 7,021 Mortgage servicing rights 1,279 0 1,497 0 1,497 Accrued interest receivable 2,064 0 2,064 0 2,064 Financial liabilities: Deposits Other deposits 468,288 0 468,451 0 468,451 Brokered deposits 20,612 0 20,618 0 20,618 Federal funds purchased and short-term borrowings 10,000 0 10,000 0 10,000 Long-term borrowings 350 0 324 0 324 Repurchase agreements 25,149 0 25,149 0 25,149 Capital lease obligations 537 0 537 0 537 Subordinated debentures 12,887 0 12,516 0 12,516 Accrued interest payable 61 0 61 0 61 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 March 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 $ 17,332 $ 17,332 $ 0 $ 0 $ 17,332 Securities held-to-maturity 42,832 0 43,182 0 43,182 Securities available-for-sale 31,807 4,009 27,798 0 31,807 Restricted equity securities 3,332 0 3,332 0 3,332 Loans and loans held-for-sale Commercial & industrial 66,667 0 633 67,521 68,154 Commercial real estate 169,053 0 2,108 172,762 174,870 Residential real estate - 1st lien 161,528 0 761 165,294 166,055 Residential real estate - Jr lien 44,338 0 297 44,975 45,272 Consumer 7,311 0 0 7,664 7,664 Mortgage servicing rights 1,306 0 1,452 0 1,452 Accrued interest receivable 2,059 0 2,059 0 2,059 Financial liabilities: Deposits Other deposits 461,001 0 458,526 0 458,526 Brokered deposits 16,118 0 18,742 0 18,742 Federal funds purchased and short-term borrowings 15,000 0 15,000 0 15,000 Repurchase agreements 28,230 0 28,230 0 28,230 Capital lease obligations 620 0 620 0 620 Subordinated debentures 12,887 0 12,865 0 12,865 Accrued interest payable 63 0 63 0 63

8. Loan Servicing (Tables)

8. Loan Servicing (Tables)	3 Months Ended
	Mar. 31, 2016
Transfers and Servicing of Financial Assets [Abstract]
Schedule Of Mortgage Servicing Rights	Three Months Ended Year Ended Three Months Ended March 31, 2016 December 31, 2015 March 31, 2015 Balance at beginning of year $ 1,293,079 $ 1,311,965 $ 1,311,965 Mortgage servicing rights capitalized 41,424 230,818 55,669 Mortgage servicing rights amortized (63,035 ) (257,921 ) (69,383 ) Change in valuation allowance 7,514 8,217 8,217 Balance at end of period $ 1,278,982 $ 1,293,079 $ 1,306,468

3. Earnings per Common Share (D

3. Earnings per Common Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Net income, as reported	$ 1,169,494	$ 1,109,841
Less: dividends to preferred shareholders	21,875	20,313
Net income available to common shareholders	$ 1,147,619	$ 1,089,528
Weighted average number of common shares used in calculating earnings per share	5,000,144	4,938,500
Earnings per common share	$ 0.23	$ 0.22

4. Investment Securities (Detai

4. Investment Securities (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Available for sale Securities
Amortized Cost - Available for sale Securities	$ 29,306,018	$ 31,614,840	$ 26,539,180
Gross Unrealized Gains - Available for sale Securities	281,777	194,279	27,569
Gross Unrealized Losses - Available for sale Securities	15,674	2,553	96,349
Fair Value - Available for sale Securities	29,572,121	31,806,566	26,470,400
U.S. GSE debt securities
Available for sale Securities
Amortized Cost - Available for sale Securities	12,817,362	18,904,234	12,832,059
Gross Unrealized Gains - Available for sale Securities	115,533	102,297	22,523
Gross Unrealized Losses - Available for sale Securities	0	2,553	22,139
Fair Value - Available for sale Securities	12,932,895	19,003,978	12,832,443
Agency mortgage-backed securities (Agency MBS)
Available for sale Securities
Amortized Cost - Available for sale Securities	13,515,656	8,716,244	10,734,121
Gross Unrealized Gains - Available for sale Securities	105,722	77,867	0
Gross Unrealized Losses - Available for sale Securities	15,674	0	69,637
Fair Value - Available for sale Securities	13,605,704	8,794,111	10,664,484
Other investments
Available for sale Securities
Amortized Cost - Available for sale Securities	2,973,000		2,973,000
Gross Unrealized Gains - Available for sale Securities	60,522		5,046
Gross Unrealized Losses - Available for sale Securities	0		4,573
Fair Value - Available for sale Securities	$ 3,033,522		$ 2,973,473
U.S. Government securities
Available for sale Securities
Amortized Cost - Available for sale Securities		3,994,362
Gross Unrealized Gains - Available for sale Securities		14,115
Gross Unrealized Losses - Available for sale Securities		0
Fair Value - Available for sale Securities		$ 4,008,477

4. Investment Securities (Det26

4. Investment Securities (Details 1) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Held-to-Maturity Securities
Fair Value - Held-to-Maturity	$ 46,235,000	$ 43,182,000	$ 44,143,000
States and political subdivisions [Member]
Held-to-Maturity Securities
Amortized Cost - Held-to-Maturity	45,551,714	42,831,982	43,354,419
Gross Unrealized Gains - Held-to-Maturity	683,286	350,018	788,581
Gross Unrealized Losses - Held-to-Maturity	0	0	0
Fair Value - Held-to-Maturity	$ 46,235,000	$ 43,182,000	$ 44,143,000

4. Investment Securities (Det27

4. Investment Securities (Details 2) - USD ($)	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Available for sale Securities
Amortized Cost
Due in one year or less, Amortized Cost	$ 3,063,730	$ 3,077,544	$ 4,016,828
Due from one to five years, Amortized Cost	12,481,632	12,482,515	$ 18,881,768
Due from five to ten years	245,000	245,000
Agency MBS	13,515,656	10,734,121	$ 8,716,244
Amortization Cost of Debt	29,306,018	26,539,180	31,614,840
Fair Value
Due in one year or less, fair value	3,071,337	3,086,317	4,021,755
Due from one to five years, fair value	12,650,080	12,474,599	18,990,700
Due from five to ten years, fair value	245,000	245,000
Agency MBS*	$ 13,605,704	$ 10,664,484	$ 8,794,111
Due after ten years, fair value
Fair value of debt	$ 29,572,121	$ 26,470,400	$ 31,806,566
Held to maturity Securities
Amortized Cost
Due in one year or less, Amortized Cost	30,042,445	27,731,133	29,485,512
Due from one to five years, Amortized Cost	3,864,268	4,015,553	4,419,264
Due from five to ten years, Amortized Cost	3,235,317	3,149,531	2,246,370
Due after ten years, Amortized Cost	8,409,684	8,458,202	6,680,836
Amortization Cost of Debt	45,551,714	43,354,419	42,831,982
Fair Value
Due in one year or less, fair value	30,042,000	27,731,000	29,486,000
Due from one to five years, fair value	4,035,000	4,213,000	4,506,000
Due from five to ten years, fair value	$ 3,407,000	$ 3,347,000	$ 2,334,000
Agency MBS*
Due after ten years, fair value	$ 8,751,000	$ 8,852,000	$ 6,856,000
Fair value of debt	$ 46,235,000	$ 44,143,000	$ 43,182,000

4. Investment Securities (Det28

4. Investment Securities (Details 3) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Fair Value Less than 12 months	$ 3,064,237	$ 0	$ 18,391,284
Unrealized Loss Less than 12 months	15,674	0	96,349
Fair Value 12 months or more	0	997,447	0
Unrealized Loss 12 months or more	0	2,553	0
Fair Value	3,064,237	997,447	18,391,284
Unrealized Loss	15,674	2,553	96,349
Agency mortgage-backed securities (Agency MBS)
Fair Value Less than 12 months	3,064,237		10,664,484
Unrealized Loss Less than 12 months	15,674		69,637
Fair Value 12 months or more	0		0
Unrealized Loss 12 months or more	0		0
Fair Value	3,064,237		10,664,484
Unrealized Loss	15,674	0	69,637
Other investments
Fair Value Less than 12 months			1,483,427
Unrealized Loss Less than 12 months			4,573
Fair Value 12 months or more			0
Unrealized Loss 12 months or more			0
Fair Value			1,483,427
Unrealized Loss	0		4,573
U.S. GSE debt securities
Fair Value Less than 12 months		0	6,243,373
Unrealized Loss Less than 12 months		0	22,139
Fair Value 12 months or more		997,447	0
Unrealized Loss 12 months or more		2,553	0
Fair Value		997,447	6,243,373
Unrealized Loss	$ 0	$ 2,553	$ 22,139

4. Investment Securities (Det29

4. Investment Securities (Details Narrative)	Mar. 31, 2016USD ($)integer	Dec. 31, 2015integer	Mar. 31, 2015integer
Investment with a book value | $	$ 27,172,084
Investment with a fair value | $	$ 27,450,798
CD Member
Number of securities		6
Agency mortgage-backed securities (Agency MBS)
Number of securities	5	12
U.S. GSE debt securities
Number of securities		6	1

5. Loans, Allowance for Loan 30

5. Loans, Allowance for Loan Losses and Credit Quality (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Loans and Leases Receivable Disclosure [Abstract]
Commercial & industrial	$ 63,540,340	$ 65,191,124	$ 67,447,337
Commercial real estate	178,205,320	178,206,542	171,453,104
Residential real estate - 1st lien	162,594,375	162,760,273	161,594,311
Residential real estate - Jr lien	43,917,725	44,720,266	44,678,956
Consumer	6,790,425	7,241,224	7,399,886
Gross Loans	455,048,185	458,119,429	452,573,594
Deduct (add):
Allowance for loan losses	5,109,488	5,011,878	5,003,049	$ 4,905,874
Deferred net loan costs	(315,050)	(316,491)	(303,949)
Total Adjustments	4,794,438	4,695,387	4,699,100
Net loans	$ 450,253,747	$ 453,424,042	$ 447,874,494

5. Loans, Allowance for Loan 31

5. Loans, Allowance for Loan Losses and Credit Quality (Details 1) - USD ($)	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
30-89 Days	$ 8,193,942	$ 4,594,475	$ 6,365,447
90 Days or more	1,746,696	2,200,265	1,092,861
Total Past Due	9,940,638	6,794,740	7,458,308
Current	445,107,547	451,324,689	445,115,286
Total Loans	455,048,185	458,119,429	452,573,594
Non-Accrual Loans	3,067,609	5,237,071	4,922,520
90 Days or More and Accruing	906,024	923,184	342,433
Commercial and industrial
30-89 Days	37,333	224,997	368,737
90 Days or more	204,354	168,244	385,212
Total Past Due	241,687	393,241	753,949
Current	63,298,653	64,797,883	66,693,388
Total Loans	63,540,340	65,191,124	67,447,337
Non-Accrual Loans	256,456	441,103	945,226
90 Days or More and Accruing	0	13,556	0
Commercial Real Estate
30-89 Days	3,825,884	888,994	840,817
90 Days or more	428,545	560,439	5,313
Total Past Due	4,254,429	1,449,433	846,130
Current	173,950,891	176,757,109	170,606,974
Total Loans	178,205,320	178,206,542	171,453,104
Non-Accrual Loans	966,071	2,400,757	2,174,472
90 Days or More and Accruing	19,810	45,356	5,313
Residential real estate - 1st lien
30-89 Days	3,950,062	2,875,768	4,663,341
90 Days or more	991,614	1,408,551	681,381
Total Past Due	4,941,676	4,284,319	5,344,722
Current	157,652,699	158,475,954	156,249,589
Total Loans	162,594,375	162,760,273	161,594,311
Non-Accrual Loans	1,467,171	2,009,079	1,420,371
90 Days or More and Accruing	764,031	801,241	316,165
Residential real estate - Jr lien
30-89 Days	228,117	521,373	420,073
90 Days or more	122,183	63,031	13,375
Total Past Due	350,300	584,404	433,448
Current	43,567,425	44,135,862	44,245,508
Total Loans	43,917,725	44,720,266	44,678,956
Non-Accrual Loans	377,911	386,132	382,451
90 Days or More and Accruing	122,183	63,031	13,375
Consumer
30-89 Days	152,546	83,343	72,479
90 Days or more	0	0	7,580
Total Past Due	152,546	83,343	80,059
Current	6,637,879	7,157,881	7,319,827
Total Loans	6,790,425	7,241,224	7,399,886
Non-Accrual Loans	0	0	0
90 Days or More and Accruing	$ 0	$ 0	$ 7,580

5. Loans, Allowance for Loan 32

5. Loans, Allowance for Loan Losses and Credit Quality (Details 2) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Allowance for loan losses, Beginning balance	$ 5,011,878	$ 4,905,874	$ 4,905,874
Charge-offs	(27,823)	(76,422)	(502,366)
Recoveries	25,433	23,597	98,370
Provisions (credit)	100,000	150,000	510,000
Allowance for loan losses, Ending balance	5,109,488	5,003,049	5,011,878
Allowance for loan losses evaluated for impairment, Individually	117,700	140,200	139,700
Allowance for loan losses evaluated for impairment, Collectively	4,991,788	4,862,849	4,872,178
Allowance for loan losses	5,109,488	5,003,049	5,011,878
Loans evaluated for impairment, Individually	2,060,927	3,939,120	4,491,996
Loans evaluated for impairment, Collectively	452,987,258	448,634,474	453,627,433
Total Loans	455,048,185	452,573,594	458,119,429
Commercial and industrial
Allowance for loan losses, Beginning balance	712,902	646,719	646,719
Charge-offs	(10,836)	(35,059)	(200,900)
Recoveries	19,295	5,607	59,264
Provisions (credit)	9,014	133,224	207,819
Allowance for loan losses, Ending balance	730,375	750,491	712,902
Allowance for loan losses evaluated for impairment, Individually	0	70,200	0
Allowance for loan losses evaluated for impairment, Collectively	730,375	680,291	712,902
Allowance for loan losses	730,375	750,491	712,902
Loans evaluated for impairment, Individually	204,354	702,732	286,436
Loans evaluated for impairment, Collectively	63,335,986	66,744,605	64,904,688
Total Loans	63,540,340	67,447,337	65,191,124
Commercial Real Estate
Allowance for loan losses, Beginning balance	2,152,678	2,311,936	2,311,936
Charge-offs	0	0	(14,783)
Recoveries	0	0	0
Provisions (credit)	142,625	13,175	(144,475)
Allowance for loan losses, Ending balance	2,295,303	2,325,111	2,152,678
Allowance for loan losses evaluated for impairment, Individually	0	0	0
Allowance for loan losses evaluated for impairment, Collectively	2,295,303	2,325,111	2,152,678
Allowance for loan losses	2,295,303	2,325,111	2,152,678
Loans evaluated for impairment, Individually	907,309	2,107,787	2,551,748
Loans evaluated for impairment, Collectively	177,298,011	169,345,317	175,654,794
Total Loans	178,205,320	171,453,104	178,206,542
Residential Real Estate - 1st Lien
Allowance for loan losses, Beginning balance	1,368,028	1,270,766	1,270,766
Charge-offs	(312)	(15,874)	(150,947)
Recoveries	312	6,042	6,042
Provisions (credit)	(29,101)	61,083	242,167
Allowance for loan losses, Ending balance	1,338,927	1,322,017	1,368,028
Allowance for loan losses evaluated for impairment, Individually	0	59,100	25,100
Allowance for loan losses evaluated for impairment, Collectively	1,338,927	1,262,917	1,342,928
Allowance for loan losses	1,338,927	1,322,017	1,368,028
Loans evaluated for impairment, Individually	717,673	820,565	1,419,808
Loans evaluated for impairment, Collectively	161,876,702	160,773,746	161,340,465
Total Loans	162,594,375	161,594,311	162,760,273
Residential Real Estate Jr Lien
Allowance for loan losses, Beginning balance	422,822	321,099	321,099
Charge-offs	0	(20,199)	(66,104)
Recoveries	60	60	240
Provisions (credit)	143	20,447	167,587
Allowance for loan losses, Ending balance	423,025	321,407	422,822
Allowance for loan losses evaluated for impairment, Individually	117,700	10,900	114,600
Allowance for loan losses evaluated for impairment, Collectively	305,325	310,507	308,222
Allowance for loan losses	423,025	321,407	422,822
Loans evaluated for impairment, Individually	231,591	308,036	234,004
Loans evaluated for impairment, Collectively	43,686,134	44,370,920	44,486,262
Total Loans	43,917,725	44,678,956	44,720,266
Consumer
Allowance for loan losses, Beginning balance	75,689	118,819	118,819
Charge-offs	(16,675)	(5,290)	(69,632)
Recoveries	5,766	11,888	32,824
Provisions (credit)	(6,324)	(39,333)	(6,322)
Allowance for loan losses, Ending balance	58,456	86,084	75,689
Allowance for loan losses evaluated for impairment, Individually	0	0	0
Allowance for loan losses evaluated for impairment, Collectively	58,456	86,084	75,689
Allowance for loan losses	58,456	86,084	75,689
Loans evaluated for impairment, Individually	0	0	0
Loans evaluated for impairment, Collectively	6,790,425	7,399,886	7,241,224
Total Loans	6,790,425	7,399,886	7,241,224
Unallocated
Allowance for loan losses, Beginning balance	279,759	236,535	236,535
Charge-offs	0	0	0
Recoveries	0	0	0
Provisions (credit)	(16,357)	(38,596)	43,224
Allowance for loan losses, Ending balance	263,402	197,939	279,759
Allowance for loan losses evaluated for impairment, Individually	0	0	0
Allowance for loan losses evaluated for impairment, Collectively	263,402	197,939	279,759
Allowance for loan losses	$ 263,402	$ 197,939	$ 279,759

5. Loans, Allowance for Loan 33

5. Loans, Allowance for Loan Losses and Credit Quality (Details 3) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Recorded Investment With an allowance recorded	$ 231,591	$ 517,846	$ 407,792
Unpaid Principal Balance With an allowance recorded	284,287	555,009	466,478
Related Allowance With an allowance recorded	117,700	140,200	139,700
Average Recorded Investment With an allowance recorded	319,692	418,734	461,741
Recorded Investment With no related allowance recorded	1,829,336	3,421,274	4,084,204
Unpaid Principal Balance With no related allowance recorded	2,032,751	3,769,988	4,603,518
Average Recorded Investment With no related allowance recorded	2,956,771	3,236,693	3,686,066
Recorded Investment allowance recorded	2,060,927	3,939,120	4,491,996
Unpaid Principal Balance allowance recorded	2,317,038	4,324,997	5,069,996
Related Allowance allowance recorded	117,700	140,200	139,700
Average Recorded Investment Allowance recorded	3,276,463	3,655,427	4,147,807
Residential real estate - 1st lien
Recorded Investment With an allowance recorded	0	355,885	173,788
Unpaid Principal Balance With an allowance recorded	0	383,523	182,251
Related Allowance With an allowance recorded	0	59,100	25,100
Average Recorded Investment With an allowance recorded	86,894	235,497	228,273
Recorded Investment With no related allowance recorded	717,673	464,680	1,246,020
Unpaid Principal Balance With no related allowance recorded	803,505	531,386	1,460,402
Average Recorded Investment With no related allowance recorded	981,847	535,407	973,572
Residential real estate - Jr lien
Recorded Investment With an allowance recorded	231,591	67,106	234,004
Unpaid Principal Balance With an allowance recorded	284,287	76,631	284,227
Related Allowance With an allowance recorded	117,700	10,900	114,600
Average Recorded Investment With an allowance recorded	232,798	33,553	155,207
Recorded Investment With no related allowance recorded		240,930	0
Unpaid Principal Balance With no related allowance recorded		284,202	0
Average Recorded Investment With no related allowance recorded		284,910	113,964
Commercial and industrial
Recorded Investment With an allowance recorded		94,855	0
Unpaid Principal Balance With an allowance recorded		94,855	0
Related Allowance With an allowance recorded		70,200	0
Average Recorded Investment With an allowance recorded		47,428	37,359
Recorded Investment With no related allowance recorded	204,354	607,877	286,436
Unpaid Principal Balance With no related allowance recorded	272,017	657,443	366,387
Average Recorded Investment With no related allowance recorded	245,395	499,241	446,817
Commercial Real Estate
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		102,256	40,902
Recorded Investment With no related allowance recorded	907,309	2,107,787	2,551,748
Unpaid Principal Balance With no related allowance recorded	957,229	2,296,957	2,776,729
Average Recorded Investment With no related allowance recorded	$ 1,729,529	$ 1,917,135	$ 2,151,713

5. Loans, Allowance for Loan 34

5. Loans, Allowance for Loan Losses and Credit Quality (Details 4) - USD ($)	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Group A	$ 433,348,685	$ 438,208,275	$ 434,501,884
Group B	9,865,531	10,066,246	8,277,273
Group C	11,833,969	9,844,908	9,794,437
Total Loans	455,048,185	458,119,429	452,573,594
Commercial and industrial
Group A	58,289,285	59,764,081	63,693,155
Group B	4,448,662	4,724,729	2,900,660
Group C	802,393	702,314	853,522
Total Loans	63,540,340	65,191,124	67,447,337
Commercial Real Estate
Group A	165,816,389	168,326,527	160,845,487
Group B	4,638,741	4,529,493	4,873,360
Group C	7,750,190	5,350,522	5,734,257
Total Loans	178,205,320	178,206,542	171,453,104
Residential real estate - 1st lien
Group A	159,255,456	158,834,849	158,579,882
Group B	593,394	599,516	233,858
Group C	2,745,525	3,325,908	2,780,571
Total Loans	162,594,375	162,760,273	161,594,311
Residential real estate - Jr lien
Group A	43,197,130	44,041,594	43,991,054
Group B	184,734	212,508	269,395
Group C	535,861	466,164	418,507
Total Loans	43,917,725	44,720,266	44,678,956
Consumer
Group A	6,790,425	7,241,224	7,392,306
Group B	0	0	0
Group C	0	0	7,580
Total Loans	$ 6,790,425	$ 7,241,224	$ 7,399,886

5. Loans, Allowance for Loan 35

5. Loans, Allowance for Loan Losses and Credit Quality (Details 5)	3 Months Ended		12 Months Ended
	Mar. 31, 2016USD ($)integer	Mar. 31, 2015USD ($)integer	Dec. 31, 2015USD ($)integer
Number of Contracts modified as TDRs | integer	6	7	19
Pre-Modification Outstanding Recorded Investment	$ 405,497	$ 462,074	$ 2,127,411
Post- Modification Outstanding Recorded Investment	$ 423,263	$ 482,578	$ 2,245,480
Residential real estate - 1st lien
Number of Contracts modified as TDRs | integer	5	5	12
Pre-Modification Outstanding Recorded Investment	$ 395,236	$ 344,329	$ 1,229,100
Post- Modification Outstanding Recorded Investment	$ 412,923	$ 360,905	$ 1,303,228
Residential Real Estate Jr Lien
Number of Contracts modified as TDRs | integer	1	2	2
Pre-Modification Outstanding Recorded Investment	$ 10,261	$ 117,745	$ 117,746
Post- Modification Outstanding Recorded Investment	$ 10,340	$ 121,673	$ 121,672
Commercial and industrial
Number of Contracts modified as TDRs | integer			2
Pre-Modification Outstanding Recorded Investment			$ 199,134
Post- Modification Outstanding Recorded Investment			$ 204,142
Commercial Real Estate
Number of Contracts modified as TDRs | integer			3
Pre-Modification Outstanding Recorded Investment			$ 581,431
Post- Modification Outstanding Recorded Investment			$ 616,438

5. Loans, Allowance for Loan 36

5. Loans, Allowance for Loan Losses and Credit Quality (Details 6)	3 Months Ended		12 Months Ended
	Mar. 31, 2016USD ($)integer	Mar. 31, 2015USD ($)integer	Dec. 31, 2015USD ($)integer
Number of Contracts | integer	3	4	6
Recorded Investment | $	$ 285,515	$ 306,874	$ 506,145
Commercial
Number of Contracts | integer	1
Recorded Investment | $	$ 79,158
Commercial Real Estate
Number of Contracts | integer	1		1
Recorded Investment | $	$ 146,519		$ 149,514
Residential Real Estate - 1st Lien
Number of Contracts | integer	1	4	4
Recorded Investment | $	$ 59,838	$ 306,874	$ 286,803
Residential Real Estate Jr Lien
Number of Contracts | integer			1
Recorded Investment | $			$ 69,828

5. Loans, Allowance for Loan 37

5. Loans, Allowance for Loan Losses and Credit Quality (Details Narrative) - USD ($)	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Allowance related to TDRs	$ 0	$ 25,100	$ 0
Residential mortgage loans in process of foreclosure	$ 230,171	$ 400,905	$ 416,901

6. Goodwill and Other Intangi38

6. Goodwill and Other Intangible Assets (Details)	Mar. 31, 2016USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2,016	$ 204,520
2,017	272,691
Total remaining core deposit intangible	$ 477,211

6. Goodwill and Other Intangi39

6. Goodwill and Other Intangible Assets (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Accumulated amortization expense	$ 3,683,789	$ 3,411,094
Amortization expense for the core deposit intangible	$ 68,175	$ 68,175

7. Fair Value (Details)

7. Fair Value (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Fair Value Level 2
Assets: (market approach)
U.S. GSE debt securities	$ 12,932,895	$ 12,832,443	$ 19,003,978
U.S. Government securities			0
Agency MBS	13,605,704	10,664,484	8,794,111
Other investments	3,033,522	2,973,473
Total	$ 29,572,121	$ 26,470,400	27,798,089
Fair Value Level 1
Assets: (market approach)
U.S. GSE debt securities			0
U.S. Government securities			4,008,477
Agency MBS			0
Total			$ 4,008,477

7. Fair Value (Details 1)

7. Fair Value (Details 1) - Fair Value Level 2 - USD ($)	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Assets: (market approach)
Residential mortgage servicing rights	$ 1,278,982	$ 1,293,079	$ 1,306,468
Impaired loans, net of related allowance	113,891	268,092	377,646
OREO	$ 465,000	$ 262,000	$ 1,238,320

7. Fair Value (Details 2)

7. Fair Value (Details 2) - USD ($)	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015
Fair Value Level 1
Financial assets: (Dollars in Thousands)
Cash and cash equivalents	$ 25,453	$ 28,852	$ 17,332
Securities held-to-maturity	0	0	0
Securities available-for-sale	0	0	4,009
Restricted equity securities	0	0	0
Loans and loans held-for-sale
Commercial & Industrial	0	0	0
Commercial real estate	0	0	0
Residential real estate - 1st lien	0	0	0
Residential real estate - Jr. lien	0	0	0
Consumer	0	0	0
Mortgage servicing rights	0	0	0
Accrued interest receivable	0	0	0
Deposits
Deposits, Other deposits	0	0	0
Deposits, Brokered deposits	0	0	0
Federal funds purchased and short-term borrowings	0	0	0
Long-term borrowings	0
Repurchase agreements	0	0	0
Capital lease obligations	0	0	0
Subordinated debentures	0	0	0
Accrued interest payable	0	0	0
Fair Value Level 2
Financial assets: (Dollars in Thousands)
Cash and cash equivalents	0	0	0
Securities held-to-maturity	46,235	44,143	43,182
Securities available-for-sale	29,572	26,470	27,798
Restricted equity securities	1,891	2,442	3,332
Loans and loans held-for-sale
Commercial & Industrial	204	286	633
Commercial real estate	907	2,552	2,108
Residential real estate - 1st lien	718	1,395	761
Residential real estate - Jr. lien	114	119	297
Consumer	0	0	0
Mortgage servicing rights	1,497	1,497	1,452
Accrued interest receivable	2,064	1,633	2,059
Deposits
Deposits, Other deposits	468,451	467,514	458,526
Deposits, Brokered deposits	20,618	27,640	18,742
Federal funds purchased and short-term borrowings	10,000	10,000	15,000
Long-term borrowings	324
Repurchase agreements	25,149	22,073	28,230
Capital lease obligations	537	558	620
Subordinated debentures	12,516	12,851	12,865
Accrued interest payable	61	53	63
Fair Value Level 3
Financial assets: (Dollars in Thousands)
Cash and cash equivalents	0	0	0
Securities held-to-maturity	0	0	0
Securities available-for-sale	0	0	0
Restricted equity securities	0	0	0
Loans and loans held-for-sale
Commercial & Industrial	63,772	65,399	67,521
Commercial real estate	180,164	178,502	172,762
Residential real estate - 1st lien	165,571	164,959	165,294
Residential real estate - Jr. lien	44,085	44,939	44,975
Consumer	7,021	7,482	7,664
Mortgage servicing rights	0	0	0
Accrued interest receivable	0	0	0
Deposits
Deposits, Other deposits	0	0	0
Deposits, Brokered deposits	0	0	0
Federal funds purchased and short-term borrowings	0	0	0
Long-term borrowings	0
Repurchase agreements	0	0	0
Capital lease obligations	0	0	0
Subordinated debentures	0	0	0
Accrued interest payable	0	0	0
Carrying Amount
Financial assets: (Dollars in Thousands)
Cash and cash equivalents	25,453	28,852	17,332
Securities held-to-maturity	45,552	43,354	42,832
Securities available-for-sale	29,572	26,470	31,807
Restricted equity securities	1,891	2,442	3,332
Loans and loans held-for-sale
Commercial & Industrial	62,773	64,438	66,667
Commercial real estate	175,807	175,945	169,053
Residential real estate - 1st lien	161,686	162,492	161,528
Residential real estate - Jr. lien	43,470	44,270	44,338
Consumer	6,728	7,161	7,311
Mortgage servicing rights	1,279	1,293	1,306
Accrued interest receivable	2,064	1,633	2,059
Deposits
Deposits, Other deposits	468,288	467,851	461,001
Deposits, Brokered deposits	20,612	27,635	16,118
Federal funds purchased and short-term borrowings	10,000	10,000	15,000
Long-term borrowings	350
Repurchase agreements	25,149	22,073	28,230
Capital lease obligations	537	558	620
Subordinated debentures	12,887	12,887	12,887
Accrued interest payable	61	53	63
Fair Value
Financial assets: (Dollars in Thousands)
Cash and cash equivalents	25,453	28,852	17,332
Securities held-to-maturity	46,235	44,143	43,182
Securities available-for-sale	29,572	26,470	31,807
Restricted equity securities	1,891	2,442	3,332
Loans and loans held-for-sale
Commercial & Industrial	63,976	65,685	68,154
Commercial real estate	181,071	181,054	174,870
Residential real estate - 1st lien	166,289	166,354	166,055
Residential real estate - Jr. lien	44,199	45,058	45,272
Consumer	7,021	7,482	7,664
Mortgage servicing rights	1,497	1,497	1,452
Accrued interest receivable	2,064	1,633	2,059
Deposits
Deposits, Other deposits	468,451	467,514	458,526
Deposits, Brokered deposits	20,618	27,640	18,742
Federal funds purchased and short-term borrowings	10,000	10,000	15,000
Long-term borrowings	324
Repurchase agreements	25,149	22,073	28,230
Capital lease obligations	537	558	620
Subordinated debentures	12,516	12,851	12,865
Accrued interest payable	$ 61	$ 53	$ 63

8. Loan Servicing (Details)

8. Loan Servicing (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Transfers and Servicing of Financial Assets [Abstract]
Balance at beginning of year	$ 1,293,079	$ 1,311,965	$ 1,311,965
Mortgage servicing rights capitalized	41,424	55,669	230,818
Mortgage servicing rights amortized	(63,035)	(69,383)	(257,921)
Change in valuation allowance	7,514	8,217	8,217
Balance at end of period	$ 1,278,982	$ 1,306,468	$ 1,293,079

10. Subsequent Event (Details)

10. Subsequent Event (Details)	Mar. 31, 2016USD ($)
Subsequent Event [Member]
Dividend accrued	$ 799,182