Community Bancorp (CMTV) 10-Q 12 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 03, 2017
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, 2017
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		5,072,803
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,017

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Assets
Cash and due from banks	$ 17,275,640	$ 10,943,344	$ 9,397,008
Federal funds sold and overnight deposits	15,513,549	18,670,942	16,055,662
Total cash and cash equivalents	32,789,189	29,614,286	25,452,670
Securities held-to-maturity (fair value $54,853,000 at 03/31/17, $51,035,000 at 12/31/16 and $46,235,000 at 03/31/16)	53,879,934	49,886,631	45,551,714
Securities available-for-sale	33,852,571	33,715,051	29,572,121
Restricted equity securities, at cost	2,426,050	2,755,850	1,891,250
Loans held-for-sale	0	0	525,200
Loans	485,722,245	487,249,226	455,048,185
Allowance for loan losses (ALL)	(5,258,440)	(5,278,445)	(5,109,488)
Deferred net loan costs	321,285	310,130	315,050
Net loans	480,785,090	482,280,911	450,253,747
Bank premises and equipment, net	10,629,125	10,830,556	11,251,819
Accrued interest receivable	2,062,875	1,818,510	2,064,364
Bank owned life insurance (BOLI)	4,649,557	4,625,406	4,546,589
Core deposit intangible	204,516	272,691	477,211
Goodwill	11,574,269	11,574,269	11,574,269
Other real estate owned (OREO)	561,979	394,000	465,000
Other assets	9,484,895	9,885,504	9,783,374
Total assets	642,900,050	637,653,665	593,409,328
Deposits:
Demand, non-interest bearing	105,880,429	104,472,268	91,019,639
Interest-bearing transaction accounts	121,953,444	118,053,360	117,208,113
Money market funds	86,938,154	79,042,619	86,652,637
Savings	96,883,558	86,776,856	85,327,489
Time deposits, $250,000 and over	19,913,160	19,274,880	13,306,128
Other time deposits	100,850,953	97,115,049	95,386,130
Total deposits	532,419,698	504,735,032	488,900,136
Borrowed funds	11,550,000	31,550,000	10,350,000
Repurchase agreements	27,747,451	30,423,195	25,149,039
Capital lease obligations	459,443	483,161	537,028
Junior subordinated debentures	12,887,000	12,887,000	12,887,000
Accrued interest and other liabilities	2,649,027	3,123,760	3,382,769
Total liabilities	587,712,619	583,202,148	541,205,972
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, 5,283,077 shares issued at 03/31/17, 5,269,053 shares issued at 12/31/16 and 5,220,419 shares issued at 03/31/16	13,207,693	13,172,633	13,051,048
Additional paid-in capital	31,008,521	30,825,658	30,268,924
Retained earnings	11,197,709	10,666,782	8,830,533
Accumulated other comprehensive (loss) income	(103,715)	(90,779)	175,628
Less: treasury stock, at cost; 210,101 shares at 03/31/17, 12/31/16, and 03/31/16	(2,622,777)	(2,622,777)	(2,622,777)
Total shareholders' equity	55,187,431	54,451,517	52,203,356
Total liabilities and shareholders' equity	$ 642,900,050	$ 637,653,665	$ 593,409,328
Book value per common share outstanding	$ 10.39	$ 10.27	$ 9.92

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Assets
Securities held-to-maturity, fair value	$ 54,853,000	$ 51,035,000	$ 46,235,000
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)	5,283,077	5,269,053	5,220,419
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, 2017	Mar. 31, 2016
Interest income
Interest and fees on loans	$ 5,616,867	$ 5,370,424
Interest on debt securities
Taxable	151,726	127,449
Tax-exempt	324,532	280,097
Dividends	35,796	29,378
Interest on federal funds sold and overnight deposits	27,472	10,906
Total interest income	6,156,393	5,818,254
Interest expense
Interest on deposits	537,789	516,594
Interest on federal funds purchased and other borrowed funds	52,235	19,158
Interest on repurchase agreements	21,527	17,991
Interest on junior subordinated debentures	122,860	109,519
Total interest expense	734,411	663,262
Net interest income	5,421,982	5,154,992
Provision for loan losses	150,000	100,000
Net interest income after provision for loan losses	5,271,982	5,054,992
Non-interest income
Service fees	748,117	617,679
Income from sold loans	190,295	221,194
Other income from loans	185,617	195,888
Net realized gain on sale of securities available-for-sale	2,130	0
Other income	244,059	203,090
Total non-interest income	1,370,218	1,237,851
Non-interest expense
Salaries and wages	1,711,124	1,725,000
Employee benefits	641,561	685,082
Occupancy expenses, net	687,433	645,746
Other expenses	1,691,001	1,626,463
Total non-interest expense	4,731,119	4,682,291
Income before income taxes	1,911,081	1,610,552
Income tax expense	496,865	441,058
Net income	$ 1,414,216	$ 1,169,494
Earnings per common share	$ 0.27	$ 0.23
Weighted average number of common shares used in computing earnings per share	5,063,128	5,000,144
Dividends declared per common share	$ 0.17	$ 0.16

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 1,414,216	$ 1,169,494
Other comprehensive income (loss), net of tax:
Unrealized holding (loss) gain on available-for-sale securities arising during the period	(17,470)	334,883
Reclassification adjustment for gain realized in income	(2,130)	0
Unrealized (loss) gain during the year	(19,600)	334,883
Tax effect	6,664	(113,861)
Other comprehensive (loss) income, net of tax	(12,936)	221,022
Total comprehensive income	$ 1,401,280	$ 1,390,516

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash Flows from Operating Activities:
Net income	$ 1,414,216	$ 1,169,494
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization, bank premises and equipment	252,131	251,627
Provision for loan losses	150,000	100,000
Deferred income tax	(17,535)	(29,227)
Gain on sale of securities available-for-sale	(2,130)	0
Gain on sale of loans	(79,128)	(101,510)
Loss on sale of bank premises and equipment	1,580	0
Loss on sale of OREO	617	0
Income from Trust LLC	(113,179)	(82,579)
Amortization of bond premium, net	30,075	33,267
Proceeds from sales of loans held for sale	3,974,739	4,753,088
Originations of loans held for sale	(3,895,611)	(3,977,378)
Increase in taxes payable	360,092	273,795
Increase in interest receivable	(244,365)	(431,151)
Decrease in mortgage servicing rights (MSRs)	28,462	14,097
(Increase) decrease in other assets	(4,875)	177,535
Increase in cash surrender value of BOLI	(24,151)	(26,103)
Amortization of core deposit intangible	68,175	68,175
Amortization of limited partnerships	154,308	146,490
(Increase) decrease in unamortized loan costs	(11,155)	1,441
Increase in interest payable	23,329	8,675
Decrease in accrued expenses	(506,924)	(359,833)
(Decrease) increase in other liabilities	(21,024)	17,125
Net cash provided by operating activities	1,537,647	2,007,028
Cash Flows from Investing Activities:
Investments - held-to-maturity Maturities and pay downs	2,365,271	1,630,861
Purchases	(6,358,574)	(3,828,156)
Investments - available-for-sale Maturities, calls, pay downs and sales	1,300,588	1,406,742
Purchases	(1,485,653)	(4,206,847)
Proceeds from redemption of restricted equity securities	329,800	822,100
Purchases of restricted equity securities	0	(271,700)
Decrease in limited partnership contributions payable	(27,000)	0
Decrease in loans, net	979,595	2,648,313
Capital expenditures for bank premises and equipment	(52,280)	(43,238)
Proceeds from sales of OREO	187,383	192,108
Recoveries of loans charged off	21,402	25,433
Net cash used in investing activities	(2,739,468)	(1,624,384)
Cash Flows from Financing Activities:
Net increase (decrease) in demand and interest-bearing transaction accounts	5,308,245	(16,033,104)
Net increase in money market and savings accounts	18,002,237	8,317,948
Net increase in time deposits	4,374,184	1,129,730
Net (decrease) increase in repurchase agreements	(2,675,744)	3,075,801
Net decrease in short-term borrowings	(20,000,000)	0
Proceeds from long-term borrowings	0	350,000
Decrease in capital lease obligations	(23,718)	(21,337)
Dividends paid on preferred stock	(23,438)	(21,875)
Dividends paid on common stock	(585,042)	(579,027)
Net cash provided by (used in) financing activities	4,376,724	(3,781,864)
Net increase (decrease) in cash and cash equivalents	3,174,903	(3,399,220)
Cash and cash equivalents:
Beginning	29,614,286	28,851,890
Ending	32,789,189	25,452,670
Supplemental Schedule of Cash Paid During the Period:
Interest	711,082	654,587
Income taxes, net of refunds	0	50,000
Supplemental Schedule of Noncash Investing and Financing Activities:
Change in unrealized (loss) gain on securities available-for-sale	(19,600)	334,883
Loans transferred to OREO	355,979	395,108
Common Shares Dividends Paid:
Dividends declared	859,851	799,182
Increase in dividends payable attributable to dividends declared	(56,886)	(914)
Dividends reinvested	(217,923)	(219,241)
Total	$ 585,042	$ 579,027

1. Basis of Presentation and Co

1. Basis of Presentation and Consolidation	3 Months Ended
	Mar. 31, 2017
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, 2016 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, 2017, or for any other interim period. Certain amounts in the 2016 unaudited consolidated income statements have been reclassified to conform to the 2017 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, 2017
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 In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments A modified version of these requirements also applies to debt securities classified as available for sale, which will require that credit losses on those securities be recorded through an allowance for credit losses rather than a write-down. T h e ASU i s effec ti ve for fisca l years be g inn i n g aft er De c ember 15, 2019, in c lu d ing in teri m p e rio ds w i t hin t ho se fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018, including interim periods within such years. The Company is evaluating the impact In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment The Company has goodwill from its acquisition of LyndonBank in 2007 and performs an impairment test annually or more frequently if circumstances warrant (see Note 6). The Company is currently evaluating the impact of the adoption of the ASU on its consolidated financial statements, but does not anticipate any material impact at this time.

3. Earnings per Common Share

3. Earnings per Common Share	3 Months Ended
	Mar. 31, 2017
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, 2017 2016 Net income, as reported $ 1,414,216 $ 1,169,494 Less: dividends to preferred shareholders 23,438 21,875 Net income available to common shareholders $ 1,390,778 $ 1,147,619 Weighted average number of common shares used in calculating earnings per share 5,063,128 5,000,144 Earnings per common share $ 0.27 $ 0.23

4. Investment Securities

4. Investment Securities	3 Months Ended
	Mar. 31, 2017
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, 2017 U.S. Government sponsored enterprise (GSE) debt securities $ 17,361,110 $ 18,840 $ 69,547 $ 17,310,403 Agency mortgage-backed securities (Agency MBS) 13,675,605 543 118,625 13,557,523 Other investments 2,973,000 15,327 3,682 2,984,645 $ 34,009,715 $ 34,710 $ 191,854 $ 33,852,571 December 31, 2016 U.S. GSE debt securities $ 17,365,805 $ 24,854 $ 73,331 $ 17,317,328 Agency MBS 13,265,790 3,896 115,458 13,154,228 Other investments 3,221,000 24,947 2,452 3,243,495 $ 33,852,595 $ 53,697 $ 191,241 $ 33,715,051 March 31, 2016 U.S. GSE debt securities $ 12,817,362 $ 115,533 $ 0 $ 12,932,895 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 Gross Gross Amortized Unrealized Unrealized Fair Securities HTM Cost Gains Losses Value* March 31, 2017 States and political subdivisions $ 53,879,934 $ 973,066 $ 0 $ 54,853,000 December 31, 2016 States and political subdivisions $ 49,886,631 $ 1,148,369 $ 0 $ 51,035,000 March 31, 2016 States and political subdivisions $ 45,551,714 $ 683,286 $ 0 $ 46,235,000 *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 $33,265,715, $33,604,595 and $27,172,084 and a fair value of $33,112,253, $33,469,254 and $27,450,798 were pledged as collateral for repurchase agreements at March 31, 2017, December 31, 2016 and March 31, 2016, respectively. These repurchase agreements mature daily. The scheduled maturities of debt securities AFS as of the balance sheet dates were as follows: Amortized Fair Cost Value March 31, 2017 Due in one year or less $ 3,002,965 $ 3,006,801 Due from one to five years 16,086,145 16,070,906 Due from five to ten years 1,245,000 1,217,341 Agency MBS 13,675,605 13,557,523 $ 34,009,715 $ 33,852,571 December 31, 2016 Due in one year or less $ 2,006,027 $ 2,010,287 Due from one to five years 17,335,778 17,329,503 Due from five to ten years 1,245,000 1,221,033 Agency MBS 13,265,790 13,154,228 $ 33,852,595 $ 33,715,051 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 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 as of the balance sheet dates were as follows: Amortized Fair Cost Value* March 31, 2017 Due in one year or less $ 29,666,554 $ 29,667,000 Due from one to five years 3,905,257 4,148,000 Due from five to ten years 3,950,402 4,194,000 Due after ten years 16,357,721 16,844,000 $ 53,879,934 $ 54,853,000 December 31, 2016 Due in one year or less $ 25,368,725 $ 25,369,000 Due from one to five years 4,030,900 4,318,000 Due from five to ten years 4,013,242 4,300,000 Due after ten years 16,473,764 17,048,000 $ 49,886,631 $ 51,035,000 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 *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 Number of Fair Unrealized Value Loss Value Loss Securities Value Loss March 31, 2017 U.S. GSE debt securities $ 6,179,311 $ 69,547 $ 0 $ 0 5 $ 6,179,311 $ 69,547 Agency MBS 12,018,209 104,677 1,048,513 13,948 18 13,066,722 118,625 Other investments 740,318 3,682 0 0 3 740,318 3,682 $ 18,937,838 $ 177,906 $ 1,048,513 $ 13,948 26 $ 19,986,351 $ 191,854 December 31, 2016 U.S. GSE debt securities $ 5,176,669 $ 73,331 $ 0 $ 0 4 $ 5,176,669 $ 73,331 Agency MBS 10,704,717 115,458 0 0 15 10,704,717 115,458 Other investments 493,548 2,452 0 0 2 493,548 2,452 $ 16,374,934 $ 191,241 $ 0 $ 0 21 $ 16,374,934 $ 191,241 March 31, 2016 Agency MBS $ 3,064,237 $ 15,674 $ 0 $ 0 5 $ 3,064,237 $ 15,674 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, 2017, 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, 2017
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, 2017 2016 2016 Commercial & industrial $ 69,064,985 $ 68,730,573 $ 63,540,340 Commercial real estate 205,140,487 201,728,280 178,205,320 Residential real estate - 1st lien 162,929,247 166,691,962 162,594,375 Residential real estate - Junior (Jr) lien 41,820,775 42,927,335 43,917,725 Consumer 6,766,751 7,171,076 6,790,425 Gross Loans 485,722,245 487,249,226 455,048,185 Deduct (add): Allowance for loan losses 5,258,440 5,278,445 5,109,488 Deferred net loan costs (321,285 ) (310,130 ) (315,050 ) Net Loans $ 480,785,090 $ 482,280,911 $ 450,253,747 The following is an age analysis of past due loans (including non-accrual) as of the balance sheet dates, by portfolio segment: 90 Days or 90 Days Total Non-Accrual More and March 31, 2017 30-89 Days or More Past Due Current Total Loans Loans Accruing Commercial & industrial $ 103,900 $ 0 $ 103,900 $ 68,961,085 $ 69,064,985 $ 135,379 $ 0 Commercial real estate 681,654 215,892 897,546 204,242,941 205,140,487 744,989 0 Residential real estate - 1st lien 4,289,551 1,246,520 5,536,071 157,393,176 162,929,247 1,148,848 668,569 - Jr lien 333,625 164,726 498,351 41,322,424 41,820,775 442,960 27,905 Consumer 84,321 1,903 86,224 6,680,527 6,766,751 0 1,903 $ 5,493,051 $ 1,629,041 $ 7,122,092 $ 478,600,153 $ 485,722,245 $ 2,472,176 $ 698,377 90 Days or 90 Days Total Non-Accrual More and December 31, 2016 30-89 Days or More Past Due Current Total Loans Loans Accruing Commercial & industrial $ 328,684 $ 26,042 $ 354,726 $ 68,375,847 $ 68,730,573 $ 143,128 $ 26,042 Commercial real estate 824,836 222,738 1,047,574 200,680,706 201,728,280 765,584 0 Residential real estate - 1st lien 4,881,496 1,723,688 6,605,184 160,086,778 166,691,962 1,227,220 1,068,083 - Jr lien 984,849 116,849 1,101,698 41,825,637 42,927,335 338,602 27,905 Consumer 53,972 2,176 56,148 7,114,928 7,171,076 0 2,176 $ 7,073,837 $ 2,091,493 $ 9,165,330 $ 478,083,896 $ 487,249,226 $ 2,474,534 $ 1,124,206 90 Days or 90 Days Total Non-Accrual More and March 31, 2016 30-89 Days or More Past Due Current Total Loans Loans 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 For all loan segments, loans over 30 days past due are considered delinquent. As of the balance sheet dates presented, residential mortgage loans in process of foreclosure consisted of the following: Number of loans Balance March 31, 2017 6 $ 330,548 December 31, 2016 8 322,663 March 31, 2016 5 230,171 Allowance for loan losses The ALL 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 ALL 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 ALL 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 ALL 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. The tables below summarize changes in the ALL and select loan information, by portfolio segment, for the periods indicated. As of or for the three months ended March 31, 2017 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Unallocated Total Allowance for loan losses Beginning balance $ 726,848 $ 2,496,085 $ 1,369,757 $ 371,176 $ 83,973 $ 230,606 $ 5,278,445 Charge-offs (21,024 ) (160,207 ) (4,735 ) 0 (5,441 ) 0 (191,407 ) Recoveries 7,141 0 6,236 60 7,965 0 21,402 Provision (credit) 6,808 185,243 (58,463 ) (782 ) (25,175 ) 42,369 150,000 Ending balance $ 719,773 $ 2,521,121 $ 1,312,795 $ 370,454 $ 61,322 $ 272,975 $ 5,258,440 Allowance for loan losses Evaluated for impairment Individually $ 0 $ 79,200 $ 3,900 $ 117,500 $ 0 $ 0 $ 200,600 Collectively 719,773 2,441,921 1,308,895 252,954 61,322 272,975 5,057,840 Total $ 719,773 $ 2,521,121 $ 1,312,795 $ 370,454 $ 61,322 $ 272,975 $ 5,258,440 Loans evaluated for impairment Individually $ 48,385 $ 807,282 $ 466,328 $ 222,080 $ 0 $ 1,544,075 Collectively 69,016,600 204,333,205 162,462,919 41,598,695 6,766,751 484,178,170 Total $ 69,064,985 $ 205,140,487 $ 162,929,247 $ 41,820,775 $ 6,766,751 $ 485,722,245 As of or for the year ended December 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 (49,009 ) 0 (244,149 ) 0 (15,404 ) 0 (308,562 ) Recoveries 36,032 0 23,712 240 15,145 0 75,129 Provision (credit) 26,923 343,407 222,166 (51,886 ) 8,543 (49,153 ) 500,000 Ending balance $ 726,848 $ 2,496,085 $ 1,369,757 $ 371,176 $ 83,973 $ 230,606 $ 5,278,445 Allowance for loan losses Evaluated for impairment Individually $ 0 $ 86,400 $ 6,200 $ 114,800 $ 0 $ 0 $ 207,400 Collectively 726,848 2,409,685 1,363,557 256,376 83,973 230,606 5,071,045 Total $ 726,848 $ 2,496,085 $ 1,369,757 $ 371,176 $ 83,973 $ 230,606 $ 5,278,445 Loans evaluated for impairment Individually $ 48,385 $ 687,495 $ 946,809 $ 224,053 $ 0 $ 1,906,742 Collectively 68,682,188 201,040,785 165,745,153 42,703,282 7,171,076 485,342,484 Total $ 68,730,573 $ 201,728,280 $ 166,691,962 $ 42,927,335 $ 7,171,076 $ 487,249,226 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 Impaired loans, by portfolio segment, were as follows: As of March 31, 2017 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment(1) With an allowance recorded Commercial real estate $ 346,444 $ 379,243 $ 79,200 $ 283,351 Residential real estate - 1st lien 53,038 57,032 3,900 162,500 Residential real estate - Jr lien 222,080 284,931 117,500 223,067 621,562 721,206 200,600 668,918 With no related allowance recorded Commercial & industrial 48,385 62,498 48,385 Commercial real estate 460,838 508,058 464,038 Residential real estate - 1st lien 413,290 485,577 544,069 922,513 1,056,133 1,056,492 Total $ 1,544,075 $ 1,777,339 $ 200,600 $ 1,725,410 (1) For the three months ended March 31, 2017 As of December 31, 2016 2016 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded Commercial real estate $ 220,257 $ 232,073 $ 86,400 $ 89,664 Residential real estate - 1st lien 271,962 275,118 6,200 350,709 Residential real estate - Jr lien 224,053 284,342 114,800 241,965 716,272 791,533 207,400 682,338 With no related allowance recorded Commercial & industrial 48,385 62,498 183,925 Commercial real estate 467,238 521,991 1,059,542 Residential real estate - 1st lien 674,847 893,741 877,237 Residential real estate - Jr lien 0 0 15,888 1,190,470 1,478,230 2,136,592 Total $ 1,906,742 $ 2,269,763 $ 207,400 $ 2,818,930 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 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. Credit Quality Grouping In developing the ALL, 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, 2017 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Total Group A $ 66,610,036 $ 194,682,293 $ 160,911,670 $ 41,115,085 $ 6,764,848 $ 470,083,932 Group B 1,709,910 2,423,387 0 167,692 0 4,300,989 Group C 745,039 8,034,807 2,017,577 537,998 1,903 11,337,324 Total $ 69,064,985 $ 205,140,487 $ 162,929,247 $ 41,820,775 $ 6,766,751 $ 485,722,245 As of December 31, 2016 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Total Group A $ 67,297,983 $ 191,755,393 $ 164,708,778 $ 42,289,062 $ 7,168,901 $ 473,220,117 Group B 512,329 2,971,364 0 169,054 0 3,652,747 Group C 920,261 7,001,523 1,983,184 469,219 2,175 10,376,362 Total $ 68,730,573 $ 201,728,280 $ 166,691,962 $ 42,927,335 $ 7,171,076 $ 487,249,226 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 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, 2017 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment Commercial & industrial 1 $41,857 $57,418 Year ended December 31, 2016 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment Residential real estate - 1st lien 8 $ 572,418 $ 598,030 Residential real estate - Jr lien 2 62,819 64,977 Total 10 $ 635,237 $ 663,007 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 The TDR’s for which there was a payment default during the twelve month periods presented were as follows: Twelve months ended March 31, 2017 Number of Recorded Contracts Investment Residential real estate - 1st lien 1 $ 64,218 Residential real estate - Jr lien 1 54,557 Total 2 $ 118,775 Twelve months ended December 31, 2016 Number of Recorded Contracts Investment Residential real estate - 1st lien 2 $ 93,230 Residential real estate - Jr lien 1 54,557 Total 3 $ 147,787 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 TDRs are treated as other impaired loans and carry individual specific reserves with respect to the calculation of the ALL. 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. The specific allowances related to TDRs as of the balance sheet dates are presented in the table below. There were no TDRs with specific allocations as of March 31, 2016. March 31, December 31, 2017 2016 Specific Allocation $ 83,100 $ 92,600 As of the balance sheet dates, the Company evaluates whether it is contractually committed to lend additional funds to debtors with impaired, non-accrual or modified loans. The Company is contractually committed to lend on one Small Business Administration guaranteed line of credit to a borrower whose lending relationship was previously restructured.

6. Goodwill and Other Intangibl

6. Goodwill and Other Intangible Assets	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Note 6. Goodwill and Other Intangible Assets	As a result of a 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 initially recorded $4,161,000 of acquired identified intangible assets in the LyndonBank merger, 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 $3,956,484 and $3,683,789 as of March 31, 2017 and 2016, respectively. Amortization expense for the core deposit intangible for the first three months of 2017 and 2016 was $68,175. The future amortization expense related to the remaining core deposit intangible is $204,516 and will be fully expensed in 2017. 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, 2016), management concluded that no impairment existed in either category.

7. Fair Value

7. Fair Value	3 Months Ended
	Mar. 31, 2017
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 MSRs, 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 MSRs, 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. MSRs: OREO: Deposits, repurchase agreements and borrowed funds: Capital lease obligations: Junior subordinated debentures: Accrued interest: Off-balance-sheet credit related instruments: FASB ASC Topic 825 “Financial Instruments”, requires disclosures of fair value information about financial instruments, whether or not recognized in the balance sheet, if the fair values can be reasonably determined. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques using observable inputs when available. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. Topic 825 excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Company. Assets 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, 2017 Level 2 Assets: (market approach) U.S. GSE debt securities $ 17,310,403 Agency MBS 13,557,523 Other investments 2,984,645 Total $ 33,852,571 December 31, 2016 Level 2 Assets: (market approach) U.S. GSE debt securities $ 17,317,328 Agency MBS 13,154,228 Other investments 3,243,495 Total $ 33,715,051 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 There were no Level 1 or 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 nonrecurring basis that have had a fair value adjustment since their initial recognition. Impaired loans measured at fair value only include impaired loans with a related specific ALL and are presented net of specific allowances as disclosed in Note 5. Assets measured at fair value on a nonrecurring basis and reflected in the consolidated balance sheets at the dates presented, segregated by fair value hierarchy, are summarized below: March 31, 2017 Level 2 Assets: (market approach) MSRs (1) $ 1,182,233 Impaired loans, net of related allowance 420,962 OREO 561,979 (1) Represents MSRs at lower of cost or fair value, including MSRs deemed to be impaired and for which a valuation allowance was established to carry at fair value as of the balance sheet dates presented. December 31, 2016 Level 2 Assets: (market approach) MSRs (1) $ 1,210,695 Impaired loans, net of related allowance 508,872 OREO 394,000 March 31, 2016 Level 2 Assets: (market approach) MSRs (1) $ 1,278,982 Impaired loans, net of related allowance 113,891 OREO 465,000 (1) Represents MSRs at lower of cost or fair value, including MSRs deemed to be impaired and for which a valuation allowance was established to carry at fair value as of the balance sheet dates presented. 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, 2017 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 $ 32,789 $ 32,789 $ 0 $ 0 $ 32,789 Securities held-to-maturity 53,880 0 54,853 0 54,853 Securities available-for-sale 33,853 0 33,853 0 33,853 Restricted equity securities 2,426 0 2,426 0 2,426 Loans and loans held-for-sale Commercial & industrial 68,306 0 48 68,936 68,984 Commercial real estate 202,504 0 728 203,903 204,631 Residential real estate - 1st lien 161,525 0 462 163,536 163,998 Residential real estate - Jr lien 41,427 0 105 41,822 41,927 Consumer 6,702 0 0 6,953 6,953 MSRs (1) 1,182 0 1,302 0 1,302 Accrued interest receivable 2,063 0 2,063 0 2,063 Financial liabilities: Deposits Other deposits 491,435 0 490,746 0 490,746 Brokered deposits 40,985 0 40,986 0 40,986 Short-term borrowings 10,000 0 9,998 0 9,998 Long-term borrowings 1,550 0 1,389 0 1,389 Repurchase agreements 27,747 0 27,747 0 27,747 Capital lease obligations 459 0 459 0 459 Subordinated debentures 12,887 0 12,846 0 12,846 Accrued interest payable 96 0 96 0 96 (1) Reported fair value represents all MSRs for loans serviced by the Company at March 31, 2017, regardless of carrying amount. December 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 $ 29,614 $ 29,614 $ 0 $ 0 $ 29,614 Securities held-to-maturity 49,887 0 51,035 0 51,035 Securities available-for-sale 33,715 0 33,715 0 33,715 Restricted equity securities 2,756 0 2,756 0 2,756 Loans and loans held-for-sale Commercial & industrial 67,972 0 48 68,727 68,775 Commercial real estate 199,136 0 601 201,560 202,161 Residential real estate - 1st lien 165,243 0 941 166,858 167,799 Residential real estate - Jr lien 42,536 0 109 42,948 43,057 Consumer 7,084 0 0 7,371 7,371 MSRs(1) 1,211 0 1,302 0 1,302 Accrued interest receivable 1,819 0 1,819 0 1,819 Financial liabilities: Deposits Other deposits 470,002 0 469,323 0 469,323 Brokered deposits 34,733 0 34,745 0 34,745 Short-term borrowings 30,000 0 30,000 0 30,000 Long-term borrowings 1,550 0 1,376 0 1,376 Repurchase agreements 30,423 0 30,423 0 30,423 Capital lease obligations 483 0 483 0 483 Subordinated debentures 12,887 0 12,849 0 12,849 Accrued interest payable 73 0 73 0 73 (1) Reported fair value represents all MSRs for loans serviced by the Company at December 31, 2016, regardless of carrying amount. 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 MSRs(1) 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 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 (1) Reported fair value represents all MSRs for loans serviced by the Company at March 31, 2016, regardless of carrying amount.

8. Loan Servicing

8. Loan Servicing	3 Months Ended
	Mar. 31, 2017
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 Year Ended Three Months Ended March 31, 2017 December 31, 2016 March 31, 2016 Balance at beginning of year $ 1,210,695 $ 1,293,079 $ 1,293,079 Mortgage servicing rights capitalized 28,466 176,705 41,424 Mortgage servicing rights amortized (56,928 ) (266,603 ) (63,035 ) Change in valuation allowance 0 7,514 7,514 Balance at end of period $ 1,182,233 $ 1,210,695 $ 1,278,982

9. Legal Proceedings

9. Legal Proceedings	3 Months Ended
	Mar. 31, 2017
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, 2017
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 8, 2017, the Company declared a cash dividend of $0.17 per common share payable May 1, 2017 to shareholders of record as of April 15, 2017. This dividend, amounting to $859,851, was accrued at March 31, 2017.

1. Basis of Presentation and 17

1. Basis of Presentation and Consolidation (Policies)	3 Months Ended
	Mar. 31, 2017
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, 2016 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, 2017, or for any other interim period. Certain amounts in the 2016 unaudited consolidated income statements have been reclassified to conform to the 2017 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 In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments A modified version of these requirements also applies to debt securities classified as available for sale, which will require that credit losses on those securities be recorded through an allowance for credit losses rather than a write-down. T h e ASU i s effec ti ve for fisca l years be g inn i n g aft er De c ember 15, 2019, in c lu d ing in teri m p e rio ds w i t hin t ho se fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018, including interim periods within such years. The Company is evaluating the impact In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment The Company has goodwill from its acquisition of LyndonBank in 2007 and performs an impairment test annually or more frequently if circumstances warrant (see Note 6). The Company is currently evaluating the impact of the adoption of the ASU on its consolidated financial statements, but does not anticipate any material impact at this time.

3. Earnings per Common Share (T

3. Earnings per Common Share (Tables)	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Schedule Of Earnings Per Share	Three Months Ended March 31, 2017 2016 Net income, as reported $ 1,414,216 $ 1,169,494 Less: dividends to preferred shareholders 23,438 21,875 Net income available to common shareholders $ 1,390,778 $ 1,147,619 Weighted average number of common shares used in calculating earnings per share 5,063,128 5,000,144 Earnings per common share $ 0.27 $ 0.23

4. Investment Securities (Table

4. Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2017
Investment Securities
Schedule Of Available For Sale Securities	Gross Gross Amortized Unrealized Unrealized Fair Securities AFS Cost Gains Losses Value March 31, 2017 U.S. Government sponsored enterprise (GSE) debt securities $ 17,361,110 $ 18,840 $ 69,547 $ 17,310,403 Agency mortgage-backed securities (Agency MBS) 13,675,605 543 118,625 13,557,523 Other investments 2,973,000 15,327 3,682 2,984,645 $ 34,009,715 $ 34,710 $ 191,854 $ 33,852,571 December 31, 2016 U.S. GSE debt securities $ 17,365,805 $ 24,854 $ 73,331 $ 17,317,328 Agency MBS 13,265,790 3,896 115,458 13,154,228 Other investments 3,221,000 24,947 2,452 3,243,495 $ 33,852,595 $ 53,697 $ 191,241 $ 33,715,051 March 31, 2016 U.S. GSE debt securities $ 12,817,362 $ 115,533 $ 0 $ 12,932,895 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
Schedule Of Held to Maturity Securities	Gross Gross Amortized Unrealized Unrealized Fair Securities HTM Cost Gains Losses Value* March 31, 2017 States and political subdivisions $ 53,879,934 $ 973,066 $ 0 $ 54,853,000 December 31, 2016 States and political subdivisions $ 49,886,631 $ 1,148,369 $ 0 $ 51,035,000 March 31, 2016 States and political subdivisions $ 45,551,714 $ 683,286 $ 0 $ 46,235,000
Schedule of Maturities of Debt Securities Available for Sale	Amortized Fair Cost Value March 31, 2017 Due in one year or less $ 3,002,965 $ 3,006,801 Due from one to five years 16,086,145 16,070,906 Due from five to ten years 1,245,000 1,217,341 Agency MBS 13,675,605 13,557,523 $ 34,009,715 $ 33,852,571 December 31, 2016 Due in one year or less $ 2,006,027 $ 2,010,287 Due from one to five years 17,335,778 17,329,503 Due from five to ten years 1,245,000 1,221,033 Agency MBS 13,265,790 13,154,228 $ 33,852,595 $ 33,715,051 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
Schedule Of Maturities of Debt Securities Held to Maturity	Amortized Fair Cost Value* March 31, 2017 Due in one year or less $ 29,666,554 $ 29,667,000 Due from one to five years 3,905,257 4,148,000 Due from five to ten years 3,950,402 4,194,000 Due after ten years 16,357,721 16,844,000 $ 53,879,934 $ 54,853,000 December 31, 2016 Due in one year or less $ 25,368,725 $ 25,369,000 Due from one to five years 4,030,900 4,318,000 Due from five to ten years 4,013,242 4,300,000 Due after ten years 16,473,764 17,048,000 $ 49,886,631 $ 51,035,000 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
Schedule Of Unrealized Loss	Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Number of Fair Unrealized Value Loss Value Loss Securities Value Loss March 31, 2017 U.S. GSE debt securities $ 6,179,311 $ 69,547 $ 0 $ 0 5 $ 6,179,311 $ 69,547 Agency MBS 12,018,209 104,677 1,048,513 13,948 18 13,066,722 118,625 Other investments 740,318 3,682 0 0 3 740,318 3,682 $ 18,937,838 $ 177,906 $ 1,048,513 $ 13,948 26 $ 19,986,351 $ 191,854 December 31, 2016 U.S. GSE debt securities $ 5,176,669 $ 73,331 $ 0 $ 0 4 $ 5,176,669 $ 73,331 Agency MBS 10,704,717 115,458 0 0 15 10,704,717 115,458 Other investments 493,548 2,452 0 0 2 493,548 2,452 $ 16,374,934 $ 191,241 $ 0 $ 0 21 $ 16,374,934 $ 191,241 March 31, 2016 Agency MBS $ 3,064,237 $ 15,674 $ 0 $ 0 5 $ 3,064,237 $ 15,674

5. Loans, Allowance for Loan 20

5. Loans, Allowance for Loan Losses and Credit Quality (Tables)	3 Months Ended
	Mar. 31, 2017
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Composition of net loans	March 31, December 31, March 31, 2017 2016 2016 Commercial & industrial $ 69,064,985 $ 68,730,573 $ 63,540,340 Commercial real estate 205,140,487 201,728,280 178,205,320 Residential real estate - 1st lien 162,929,247 166,691,962 162,594,375 Residential real estate - Junior (Jr) lien 41,820,775 42,927,335 43,917,725 Consumer 6,766,751 7,171,076 6,790,425 Gross Loans 485,722,245 487,249,226 455,048,185 Deduct (add): Allowance for loan losses 5,258,440 5,278,445 5,109,488 Deferred net loan costs (321,285 ) (310,130 ) (315,050 ) Net Loans $ 480,785,090 $ 482,280,911 $ 450,253,747
Past due loans by segment	90 Days or 90 Days Total Non-Accrual More and March 31, 2017 30-89 Days or More Past Due Current Total Loans Loans Accruing Commercial & industrial $ 103,900 $ 0 $ 103,900 $ 68,961,085 $ 69,064,985 $ 135,379 $ 0 Commercial real estate 681,654 215,892 897,546 204,242,941 205,140,487 744,989 0 Residential real estate - 1st lien 4,289,551 1,246,520 5,536,071 157,393,176 162,929,247 1,148,848 668,569 - Jr lien 333,625 164,726 498,351 41,322,424 41,820,775 442,960 27,905 Consumer 84,321 1,903 86,224 6,680,527 6,766,751 0 1,903 $ 5,493,051 $ 1,629,041 $ 7,122,092 $ 478,600,153 $ 485,722,245 $ 2,472,176 $ 698,377 90 Days or 90 Days Total Non-Accrual More and December 31, 2016 30-89 Days or More Past Due Current Total Loans Loans Accruing Commercial & industrial $ 328,684 $ 26,042 $ 354,726 $ 68,375,847 $ 68,730,573 $ 143,128 $ 26,042 Commercial real estate 824,836 222,738 1,047,574 200,680,706 201,728,280 765,584 0 Residential real estate - 1st lien 4,881,496 1,723,688 6,605,184 160,086,778 166,691,962 1,227,220 1,068,083 - Jr lien 984,849 116,849 1,101,698 41,825,637 42,927,335 338,602 27,905 Consumer 53,972 2,176 56,148 7,114,928 7,171,076 0 2,176 $ 7,073,837 $ 2,091,493 $ 9,165,330 $ 478,083,896 $ 487,249,226 $ 2,474,534 $ 1,124,206 90 Days or 90 Days Total Non-Accrual More and March 31, 2016 30-89 Days or More Past Due Current Total Loans Loans 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
Residential mortgage loans in process of foreclosure	Number of loans Balance March 31, 2017 6 $ 330,548 December 31, 2016 8 322,663 March 31, 2016 5 230,171
Changes in the allowance for loan losses	As of or for the three months ended March 31, 2017 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Unallocated Total Allowance for loan losses Beginning balance $ 726,848 $ 2,496,085 $ 1,369,757 $ 371,176 $ 83,973 $ 230,606 $ 5,278,445 Charge-offs (21,024 ) (160,207 ) (4,735 ) 0 (5,441 ) 0 (191,407 ) Recoveries 7,141 0 6,236 60 7,965 0 21,402 Provision (credit) 6,808 185,243 (58,463 ) (782 ) (25,175 ) 42,369 150,000 Ending balance $ 719,773 $ 2,521,121 $ 1,312,795 $ 370,454 $ 61,322 $ 272,975 $ 5,258,440 Allowance for loan losses Evaluated for impairment Individually $ 0 $ 79,200 $ 3,900 $ 117,500 $ 0 $ 0 $ 200,600 Collectively 719,773 2,441,921 1,308,895 252,954 61,322 272,975 5,057,840 Total $ 719,773 $ 2,521,121 $ 1,312,795 $ 370,454 $ 61,322 $ 272,975 $ 5,258,440 Loans evaluated for impairment Individually $ 48,385 $ 807,282 $ 466,328 $ 222,080 $ 0 $ 1,544,075 Collectively 69,016,600 204,333,205 162,462,919 41,598,695 6,766,751 484,178,170 Total $ 69,064,985 $ 205,140,487 $ 162,929,247 $ 41,820,775 $ 6,766,751 $ 485,722,245 As of or for the year ended December 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 (49,009 ) 0 (244,149 ) 0 (15,404 ) 0 (308,562 ) Recoveries 36,032 0 23,712 240 15,145 0 75,129 Provision (credit) 26,923 343,407 222,166 (51,886 ) 8,543 (49,153 ) 500,000 Ending balance $ 726,848 $ 2,496,085 $ 1,369,757 $ 371,176 $ 83,973 $ 230,606 $ 5,278,445 Allowance for loan losses Evaluated for impairment Individually $ 0 $ 86,400 $ 6,200 $ 114,800 $ 0 $ 0 $ 207,400 Collectively 726,848 2,409,685 1,363,557 256,376 83,973 230,606 5,071,045 Total $ 726,848 $ 2,496,085 $ 1,369,757 $ 371,176 $ 83,973 $ 230,606 $ 5,278,445 Loans evaluated for impairment Individually $ 48,385 $ 687,495 $ 946,809 $ 224,053 $ 0 $ 1,906,742 Collectively 68,682,188 201,040,785 165,745,153 42,703,282 7,171,076 485,342,484 Total $ 68,730,573 $ 201,728,280 $ 166,691,962 $ 42,927,335 $ 7,171,076 $ 487,249,226 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
Impaired loans by segment	As of March 31, 2017 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment(1) With an allowance recorded Commercial real estate $ 346,444 $ 379,243 $ 79,200 $ 283,351 Residential real estate - 1st lien 53,038 57,032 3,900 162,500 Residential real estate - Jr lien 222,080 284,931 117,500 223,067 621,562 721,206 200,600 668,918 With no related allowance recorded Commercial & industrial 48,385 62,498 48,385 Commercial real estate 460,838 508,058 464,038 Residential real estate - 1st lien 413,290 485,577 544,069 922,513 1,056,133 1,056,492 Total $ 1,544,075 $ 1,777,339 $ 200,600 $ 1,725,410 (1) For the three months ended March 31, 2017 As of December 31, 2016 2016 Unpaid Average Recorded Principal Related Recorded Investment Balance Allowance Investment With an allowance recorded Commercial real estate $ 220,257 $ 232,073 $ 86,400 $ 89,664 Residential real estate - 1st lien 271,962 275,118 6,200 350,709 Residential real estate - Jr lien 224,053 284,342 114,800 241,965 716,272 791,533 207,400 682,338 With no related allowance recorded Commercial & industrial 48,385 62,498 183,925 Commercial real estate 467,238 521,991 1,059,542 Residential real estate - 1st lien 674,847 893,741 877,237 Residential real estate - Jr lien 0 0 15,888 1,190,470 1,478,230 2,136,592 Total $ 1,906,742 $ 2,269,763 $ 207,400 $ 2,818,930 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
Risk ratings	As of March 31, 2017 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Total Group A $ 66,610,036 $ 194,682,293 $ 160,911,670 $ 41,115,085 $ 6,764,848 $ 470,083,932 Group B 1,709,910 2,423,387 0 167,692 0 4,300,989 Group C 745,039 8,034,807 2,017,577 537,998 1,903 11,337,324 Total $ 69,064,985 $ 205,140,487 $ 162,929,247 $ 41,820,775 $ 6,766,751 $ 485,722,245 As of December 31, 2016 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Total Group A $ 67,297,983 $ 191,755,393 $ 164,708,778 $ 42,289,062 $ 7,168,901 $ 473,220,117 Group B 512,329 2,971,364 0 169,054 0 3,652,747 Group C 920,261 7,001,523 1,983,184 469,219 2,175 10,376,362 Total $ 68,730,573 $ 201,728,280 $ 166,691,962 $ 42,927,335 $ 7,171,076 $ 487,249,226 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
Loans modified as TDRs	Three months ended March 31, 2017 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment Commercial & industrial 1 $41,857 $57,418 Year ended December 31, 2016 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment Residential real estate - 1st lien 8 $ 572,418 $ 598,030 Residential real estate - Jr lien 2 62,819 64,977 Total 10 $ 635,237 $ 663,007 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
TDRs payment default	Twelve months ended March 31, 2017 Number of Recorded Contracts Investment Residential real estate - 1st lien 1 $ 64,218 Residential real estate - Jr lien 1 54,557 Total 2 $ 118,775 Twelve months ended December 31, 2016 Number of Recorded Contracts Investment Residential real estate - 1st lien 2 $ 93,230 Residential real estate - Jr lien 1 54,557 Total 3 $ 147,787 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
Specific allowances	March 31, December 31, 2017 2016 Specific Allocation $ 83,100 $ 92,600

7. Fair Value (Tables)

7. Fair Value (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Schedule Of Fair Value Assets and Liabilities On Recurring Basis	March 31, 2017 Level 2 Assets: (market approach) U.S. GSE debt securities $ 17,310,403 Agency MBS 13,557,523 Other investments 2,984,645 Total $ 33,852,571 December 31, 2016 Level 2 Assets: (market approach) U.S. GSE debt securities $ 17,317,328 Agency MBS 13,154,228 Other investments 3,243,495 Total $ 33,715,051 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
Schedule of Fair Value Assets and Liabilities Non-recurring Basis	March 31, 2017 Level 2 Assets: (market approach) MSRs (1) $ 1,182,233 Impaired loans, net of related allowance 420,962 OREO 561,979 (1) Represents MSRs at lower of cost or fair value, including MSRs deemed to be impaired and for which a valuation allowance was established to carry at fair value as of the balance sheet dates presented. December 31, 2016 Level 2 Assets: (market approach) MSRs (1) $ 1,210,695 Impaired loans, net of related allowance 508,872 OREO 394,000 March 31, 2016 Level 2 Assets: (market approach) MSRs (1) $ 1,278,982 Impaired loans, net of related allowance 113,891 OREO 465,000 (1) Represents MSRs at lower of cost or fair value, including MSRs deemed to be impaired and for which a valuation allowance was established to carry at fair value as of the balance sheet dates presented.
Schedule Of Estimated Fair Values Of Financial Instruments	March 31, 2017 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 $ 32,789 $ 32,789 $ 0 $ 0 $ 32,789 Securities held-to-maturity 53,880 0 54,853 0 54,853 Securities available-for-sale 33,853 0 33,853 0 33,853 Restricted equity securities 2,426 0 2,426 0 2,426 Loans and loans held-for-sale Commercial & industrial 68,306 0 48 68,936 68,984 Commercial real estate 202,504 0 728 203,903 204,631 Residential real estate - 1st lien 161,525 0 462 163,536 163,998 Residential real estate - Jr lien 41,427 0 105 41,822 41,927 Consumer 6,702 0 0 6,953 6,953 MSRs (1) 1,182 0 1,302 0 1,302 Accrued interest receivable 2,063 0 2,063 0 2,063 Financial liabilities: Deposits Other deposits 491,435 0 490,746 0 490,746 Brokered deposits 40,985 0 40,986 0 40,986 Short-term borrowings 10,000 0 9,998 0 9,998 Long-term borrowings 1,550 0 1,389 0 1,389 Repurchase agreements 27,747 0 27,747 0 27,747 Capital lease obligations 459 0 459 0 459 Subordinated debentures 12,887 0 12,846 0 12,846 Accrued interest payable 96 0 96 0 96 (1) Reported fair value represents all MSRs for loans serviced by the Company at March 31, 2017, regardless of carrying amount. December 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 $ 29,614 $ 29,614 $ 0 $ 0 $ 29,614 Securities held-to-maturity 49,887 0 51,035 0 51,035 Securities available-for-sale 33,715 0 33,715 0 33,715 Restricted equity securities 2,756 0 2,756 0 2,756 Loans and loans held-for-sale Commercial & industrial 67,972 0 48 68,727 68,775 Commercial real estate 199,136 0 601 201,560 202,161 Residential real estate - 1st lien 165,243 0 941 166,858 167,799 Residential real estate - Jr lien 42,536 0 109 42,948 43,057 Consumer 7,084 0 0 7,371 7,371 MSRs(1) 1,211 0 1,302 0 1,302 Accrued interest receivable 1,819 0 1,819 0 1,819 Financial liabilities: Deposits Other deposits 470,002 0 469,323 0 469,323 Brokered deposits 34,733 0 34,745 0 34,745 Short-term borrowings 30,000 0 30,000 0 30,000 Long-term borrowings 1,550 0 1,376 0 1,376 Repurchase agreements 30,423 0 30,423 0 30,423 Capital lease obligations 483 0 483 0 483 Subordinated debentures 12,887 0 12,849 0 12,849 Accrued interest payable 73 0 73 0 73 (1) Reported fair value represents all MSRs for loans serviced by the Company at December 31, 2016, regardless of carrying amount. 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 MSRs(1) 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 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 (1) Reported fair value represents all MSRs for loans serviced by the Company at March 31, 2016, regardless of carrying amount.

8. Loan Servicing (Tables)

8. Loan Servicing (Tables)	3 Months Ended
	Mar. 31, 2017
Transfers and Servicing of Financial Assets [Abstract]
Schedule Of Mortgage Servicing Rights	Three Months Ended Year Ended Three Months Ended March 31, 2017 December 31, 2016 March 31, 2016 Balance at beginning of year $ 1,210,695 $ 1,293,079 $ 1,293,079 Mortgage servicing rights capitalized 28,466 176,705 41,424 Mortgage servicing rights amortized (56,928 ) (266,603 ) (63,035 ) Change in valuation allowance 0 7,514 7,514 Balance at end of period $ 1,182,233 $ 1,210,695 $ 1,278,982

3. Earnings per Common Share (D

3. Earnings per Common Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share [Abstract]
Net income, as reported	$ 1,414,216	$ 1,169,494
Less: dividends to preferred shareholders	23,438	21,875
Net income available to common shareholders	$ 1,390,778	$ 1,147,619
Weighted average number of common shares used in calculating earnings per share	5,063,128	5,000,144
Earnings per common share	$ 0.27	$ 0.23

4. Investment Securities (Detai

4. Investment Securities (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Available for sale Securities
Amortized Cost - Available for sale Securities	$ 34,009,715	$ 29,306,018	$ 33,852,595
Gross Unrealized Gains - Available for sale Securities	34,710	281,777	53,697
Gross Unrealized Losses - Available for sale Securities	191,854	15,674	191,241
Fair Value - Available for sale Securities	33,852,571	29,572,121	33,715,051
U.S. GSE debt securities
Available for sale Securities
Amortized Cost - Available for sale Securities	17,361,110	12,817,362	17,365,805
Gross Unrealized Gains - Available for sale Securities	18,840	115,533	24,854
Gross Unrealized Losses - Available for sale Securities	69,547	0	73,331
Fair Value - Available for sale Securities	17,310,403	12,932,895	17,317,328
Agency mortgage-backed securities (Agency MBS)
Available for sale Securities
Amortized Cost - Available for sale Securities	13,675,605	13,515,656	13,265,790
Gross Unrealized Gains - Available for sale Securities	543	105,722	3,896
Gross Unrealized Losses - Available for sale Securities	118,625	15,674	115,458
Fair Value - Available for sale Securities	13,557,523	13,605,704	13,154,228
Other investments
Available for sale Securities
Amortized Cost - Available for sale Securities	2,973,000	2,973,000	3,221,000
Gross Unrealized Gains - Available for sale Securities	15,327	60,522	24,947
Gross Unrealized Losses - Available for sale Securities	3,682	0	2,452
Fair Value - Available for sale Securities	$ 2,984,645	$ 3,033,522	$ 3,243,495

4. Investment Securities (Det25

4. Investment Securities (Details 1) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Held-to-Maturity Securities
Fair Value - Held-to-Maturity	$ 54,853,000	$ 46,235,000	$ 51,035,000
States and political subdivisions [Member]
Held-to-Maturity Securities
Amortized Cost - Held-to-Maturity	53,879,934	45,551,714	49,886,631
Gross Unrealized Gains - Held-to-Maturity	973,066	683,286	1,148,369
Gross Unrealized Losses - Held-to-Maturity	0	0	0
Fair Value - Held-to-Maturity	$ 54,853,000	$ 46,235,000	$ 51,035,000

4. Investment Securities (Det26

4. Investment Securities (Details 2) - USD ($)	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Available for sale Securities
Amortized Cost
Due in one year or less, Amortized Cost	$ 3,002,965	$ 2,006,027	$ 3,063,730
Due from one to five years, Amortized Cost	16,086,145	17,335,778	12,481,632
Due from five to ten years	1,245,000	1,245,000	245,000
Agency MBS	13,675,605	13,265,790	13,515,656
Amortization Cost of Debt	34,009,715	33,852,595	29,306,018
Fair Value
Due in one year or less, fair value	3,006,801	2,010,287	3,071,337
Due from one to five years, fair value	16,070,906	17,329,503	12,650,080
Due from five to ten years, fair value	1,217,341	1,221,033	245,000
Agency MBS	13,557,523	13,154,228	13,605,704
Fair value of debt	33,852,571	33,715,051	29,572,121
Held to maturity Securities
Amortized Cost
Due in one year or less, Amortized Cost	29,666,554	25,368,725	30,042,445
Due from one to five years, Amortized Cost	3,905,257	4,030,900	3,864,268
Due from five to ten years, Amortized Cost	3,950,402	4,013,242	3,235,317
Due after ten years, Amortized Cost	16,357,721	16,473,764	8,409,684
Amortization Cost of Debt	53,879,934	49,886,631	45,551,714
Fair Value
Due in one year or less, fair value	29,667,000	25,369,000	30,042,000
Due from one to five years, fair value	4,148,000	4,318,000	4,035,000
Due from five to ten years, fair value	4,194,000	4,300,000	3,407,000
Due after ten years, fair value	16,844,000	17,048,000	8,751,000
Fair value of debt	$ 54,853,000	$ 51,035,000	$ 46,235,000

4. Investment Securities (Det27

4. Investment Securities (Details 3)	3 Months Ended		12 Months Ended
	Mar. 31, 2017USD ($)integer	Mar. 31, 2016USD ($)integer	Dec. 31, 2016USD ($)integer
Fair Value Less than 12 months	$ 18,937,838	$ 3,064,237	$ 16,374,934
Unrealized Loss Less than 12 months	177,906	15,674	191,241
Fair Value 12 months or more	1,048,513	0	0
Unrealized Loss 12 months or more	13,948	0	0
Fair Value	19,986,351	3,064,237	16,374,934
Unrealized Loss	$ 191,854	$ 15,674	$ 191,241
Number of Securities | integer	26	5	21
U.S. GSE debt securities
Fair Value Less than 12 months	$ 6,179,311		$ 5,176,669
Unrealized Loss Less than 12 months	69,547		73,331
Fair Value 12 months or more	0		0
Unrealized Loss 12 months or more	0		0
Fair Value	6,179,311		5,176,669
Unrealized Loss	$ 69,547	$ 0	$ 73,331
Number of Securities | integer	5		4
Agency mortgage-backed securities (Agency MBS)
Fair Value Less than 12 months	$ 12,018,209	3,064,237	$ 10,704,717
Unrealized Loss Less than 12 months	104,677	15,674	115,458
Fair Value 12 months or more	1,048,513	0	0
Unrealized Loss 12 months or more	13,948	0	0
Fair Value	13,066,722	3,064,237	10,704,717
Unrealized Loss	$ 118,625	$ 15,674	$ 115,458
Number of Securities | integer	18	5	15
Other investments
Fair Value Less than 12 months	$ 740,318		$ 493,548
Unrealized Loss Less than 12 months	3,682		2,452
Fair Value 12 months or more	0		0
Unrealized Loss 12 months or more	0		0
Fair Value	740,318		493,548
Unrealized Loss	$ 3,682	$ 0	$ 2,452
Number of Securities | integer	3		2

4. Investment Securities (Det28

4. Investment Securities (Details Narrative) - USD ($)	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Investment Securities Details Narrative
Book value of available for sale securities, pledged as collateral for repurchase agreements	$ 33,265,715	$ 33,604,595	$ 27,172,084
Fair value of available for sale securities, pledged as collateral for repurchase agreements	$ 33,112,253	$ 33,469,254	$ 27,450,798

5. Loans, Allowance for Loan 29

5. Loans, Allowance for Loan Losses and Credit Quality (Details) - USD ($)	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Loans and Leases Receivable Disclosure [Abstract]
Commercial & industrial	$ 69,064,985	$ 68,730,573	$ 63,540,340
Commercial real estate	205,140,487	201,728,280	178,205,320
Residential real estate - 1st lien	162,929,247	166,691,962	162,594,375
Residential real estate -Junior (Jr) lien	41,820,775	42,927,335	43,917,725
Consumer	6,766,751	7,171,076	6,790,425
Gross Loans	485,722,245	487,249,226	455,048,185
Deduct (add):
Allowance for loan losses	5,258,440	5,278,445	5,109,488	$ 5,011,878
Deferred net loan costs	(321,285)	(310,130)	(315,050)
Net loans	$ 480,785,090	$ 482,280,911	$ 450,253,747

5. Loans, Allowance for Loan 30

5. Loans, Allowance for Loan Losses and Credit Quality (Details 1) - USD ($)	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
30-89 Days	$ 5,493,051	$ 7,073,837	$ 8,193,942
90 Days or more	1,629,041	2,091,493	1,746,696
Total Past Due	7,122,092	9,165,330	9,940,638
Current	478,600,153	478,083,896	445,107,547
Total Loans	485,722,245	487,249,226	455,048,185
Non-Accrual Loans	2,472,176	2,474,534	3,067,609
90 Days or More and Accruing	698,377	1,124,206	906,024
Commercial and industrial
30-89 Days	103,900	328,684	37,333
90 Days or more	0	26,042	204,354
Total Past Due	103,900	354,726	241,687
Current	68,961,085	68,375,847	63,298,653
Total Loans	69,064,985	68,730,573	63,540,340
Non-Accrual Loans	135,379	143,128	256,456
90 Days or More and Accruing	0	26,042	0
Commercial Real Estate
30-89 Days	681,654	824,836	3,825,884
90 Days or more	215,892	222,738	428,545
Total Past Due	897,546	1,047,574	4,254,429
Current	204,242,941	200,680,706	173,950,891
Total Loans	205,140,487	201,728,280	178,205,320
Non-Accrual Loans	744,989	765,584	966,071
90 Days or More and Accruing	0	0	19,810
Residential real estate - 1st lien
30-89 Days	4,289,551	4,881,496	3,950,062
90 Days or more	1,246,520	1,723,688	991,614
Total Past Due	5,536,071	6,605,184	4,941,676
Current	157,393,176	160,086,778	157,652,699
Total Loans	162,929,247	166,691,962	162,594,375
Non-Accrual Loans	1,148,848	1,227,220	1,467,171
90 Days or More and Accruing	668,569	1,068,083	764,031
Residential real estate - Jr lien
30-89 Days	333,625	984,849	228,117
90 Days or more	164,726	116,849	122,183
Total Past Due	498,351	1,101,698	350,300
Current	41,322,424	41,825,637	43,567,425
Total Loans	41,820,775	42,927,335	43,917,725
Non-Accrual Loans	442,960	338,602	377,911
90 Days or More and Accruing	27,905	27,905	122,183
Consumer
30-89 Days	84,321	53,972	152,546
90 Days or more	1,903	2,176	0
Total Past Due	86,224	56,148	152,546
Current	6,680,527	7,114,928	6,637,879
Total Loans	6,766,751	7,171,076	6,790,425
Non-Accrual Loans	0	0	0
90 Days or More and Accruing	$ 1,903	$ 2,176	$ 0

5. Loans, Allowance for Loan 31

5. Loans, Allowance for Loan Losses and Credit Quality (Details 2)	Mar. 31, 2017USD ($)integer	Dec. 31, 2016USD ($)integer	Mar. 31, 2016USD ($)integer
Loans Allowance For Loan Losses And Credit Quality Details 2
Residential mortgage loans in process of foreclosure, number of loans | integer	6	8	5
Residential mortgage loans in process of foreclosure, current balance | $	$ 330,548	$ 322,663	$ 230,171

5. Loans, Allowance for Loan 32

5. Loans, Allowance for Loan Losses and Credit Quality (Details 3) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Allowance for loan losses, Beginning balance	$ 5,278,445	$ 5,011,878	$ 5,011,878
Charge-offs	(191,407)	(27,823)	(308,562)
Recoveries	21,402	25,433	75,129
Provisions (credit)	150,000	100,000	500,000
Allowance for loan losses, Ending balance	5,258,440	5,109,488	5,278,445
Allowance for loan losses evaluated for impairment, Individually	200,600	117,700	207,400
Allowance for loan losses evaluated for impairment, Collectively	5,057,840	4,991,788	5,071,045
Allowance for loan losses	5,258,440	5,109,488	5,278,445
Loans evaluated for impairment, Individually	1,544,075	2,060,927	1,906,742
Loans evaluated for impairment, Collectively	484,178,170	452,987,258	485,342,484
Total Loans	485,722,245	455,048,185	487,249,226
Commercial and industrial
Allowance for loan losses, Beginning balance	726,848	712,902	712,902
Charge-offs	(21,024)	(10,836)	(49,009)
Recoveries	7,141	19,295	36,032
Provisions (credit)	6,808	9,014	26,923
Allowance for loan losses, Ending balance	719,773	730,375	726,848
Allowance for loan losses evaluated for impairment, Individually	0	0	0
Allowance for loan losses evaluated for impairment, Collectively	719,773	730,375	726,848
Allowance for loan losses	719,773	730,375	726,848
Loans evaluated for impairment, Individually	48,385	204,354	48,385
Loans evaluated for impairment, Collectively	69,016,600	63,335,986	68,682,188
Total Loans	69,064,985	63,540,340	68,730,573
Commercial Real Estate
Allowance for loan losses, Beginning balance	2,496,085	2,152,678	2,152,678
Charge-offs	(160,207)	0	0
Recoveries	0	0	0
Provisions (credit)	185,243	142,625	343,407
Allowance for loan losses, Ending balance	2,521,121	2,295,303	2,496,085
Allowance for loan losses evaluated for impairment, Individually	79,200	0	86,400
Allowance for loan losses evaluated for impairment, Collectively	2,441,921	2,295,303	2,409,685
Allowance for loan losses	2,521,121	2,295,303	2,496,085
Loans evaluated for impairment, Individually	807,282	907,309	687,495
Loans evaluated for impairment, Collectively	204,333,205	177,298,011	201,040,785
Total Loans	205,140,487	178,205,320	201,728,280
Residential Real Estate - 1st Lien
Allowance for loan losses, Beginning balance	1,369,757	1,368,028	1,368,028
Charge-offs	(4,735)	(312)	(244,149)
Recoveries	6,236	312	23,712
Provisions (credit)	(58,463)	(29,101)	222,166
Allowance for loan losses, Ending balance	1,312,795	1,338,927	1,369,757
Allowance for loan losses evaluated for impairment, Individually	3,900	0	6,200
Allowance for loan losses evaluated for impairment, Collectively	1,308,895	1,338,927	1,363,557
Allowance for loan losses	1,312,795	1,338,927	1,369,757
Loans evaluated for impairment, Individually	466,328	717,673	946,809
Loans evaluated for impairment, Collectively	162,462,919	161,876,702	165,745,153
Total Loans	162,929,247	162,594,375	166,691,962
Residential Real Estate Jr Lien
Allowance for loan losses, Beginning balance	371,176	422,822	422,822
Charge-offs	0	0	0
Recoveries	60	60	240
Provisions (credit)	(782)	143	(51,886)
Allowance for loan losses, Ending balance	370,454	423,025	371,176
Allowance for loan losses evaluated for impairment, Individually	117,500	117,700	114,800
Allowance for loan losses evaluated for impairment, Collectively	252,954	305,325	256,376
Allowance for loan losses	370,454	423,025	371,176
Loans evaluated for impairment, Individually	222,080	231,591	224,053
Loans evaluated for impairment, Collectively	41,598,695	43,686,134	42,703,282
Total Loans	41,820,775	43,917,725	42,927,335
Consumer
Allowance for loan losses, Beginning balance	83,973	75,689	75,689
Charge-offs	(5,441)	(16,675)	(15,404)
Recoveries	7,965	5,766	15,145
Provisions (credit)	(25,175)	(6,324)	8,543
Allowance for loan losses, Ending balance	61,322	58,456	83,973
Allowance for loan losses evaluated for impairment, Individually	0	0	0
Allowance for loan losses evaluated for impairment, Collectively	61,322	58,456	83,973
Allowance for loan losses	61,322	58,456	83,973
Loans evaluated for impairment, Individually	0	0	0
Loans evaluated for impairment, Collectively	6,766,751	6,790,425	7,171,076
Total Loans	6,766,751	6,790,425	7,171,076
Unallocated
Allowance for loan losses, Beginning balance	230,606	279,759	279,759
Charge-offs	0	0	0
Recoveries	0	0	0
Provisions (credit)	42,369	(16,357)	(49,153)
Allowance for loan losses, Ending balance	272,975	263,402	230,606
Allowance for loan losses evaluated for impairment, Individually	0	0	0
Allowance for loan losses evaluated for impairment, Collectively	272,975	263,402	230,606
Allowance for loan losses	$ 272,975	$ 263,402	$ 230,606

5. Loans, Allowance for Loan 33

5. Loans, Allowance for Loan Losses and Credit Quality (Details 4) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Recorded Investment With an allowance recorded	$ 621,562	$ 231,591	$ 716,272
Unpaid Principal Balance With an allowance recorded	721,206	284,287	791,533
Related Allowance With an allowance recorded	200,600	117,700	207,400
Average Recorded Investment With an allowance recorded	668,918	319,692	682,338
Recorded Investment With no related allowance recorded	922,513	1,829,336	1,190,470
Unpaid Principal Balance With no related allowance recorded	1,056,133	2,032,751	1,478,230
Average Recorded Investment With no related allowance recorded	1,056,492	2,956,771	2,136,592
Recorded Investment allowance recorded	1,544,075	2,060,927	1,906,742
Unpaid Principal Balance allowance recorded	1,777,339	2,317,038	2,269,763
Related Allowance allowance recorded	200,600	117,700	207,400
Average Recorded Investment Allowance recorded	1,725,410	3,276,463	2,818,930
Commercial and industrial
Recorded Investment With no related allowance recorded	48,385	204,354	48,385
Unpaid Principal Balance With no related allowance recorded	62,498	272,017	62,498
Average Recorded Investment With no related allowance recorded	48,385	245,395	183,925
Commercial Real Estate
Recorded Investment With an allowance recorded	346,444		220,257
Unpaid Principal Balance With an allowance recorded	379,243		232,073
Related Allowance With an allowance recorded	79,200		86,400
Average Recorded Investment With an allowance recorded	283,351		89,664
Recorded Investment With no related allowance recorded	460,838	907,309	467,238
Unpaid Principal Balance With no related allowance recorded	508,058	957,229	521,991
Average Recorded Investment With no related allowance recorded	464,038	1,729,529	1,059,542
Residential real estate - 1st lien
Recorded Investment With an allowance recorded	53,038	0	271,962
Unpaid Principal Balance With an allowance recorded	57,032	0	275,118
Related Allowance With an allowance recorded	3,900	0	6,200
Average Recorded Investment With an allowance recorded	162,500	86,894	350,709
Recorded Investment With no related allowance recorded	413,290	717,673	674,847
Unpaid Principal Balance With no related allowance recorded	485,577	803,505	893,741
Average Recorded Investment With no related allowance recorded	544,069	981,847	877,237
Residential real estate - Jr lien
Recorded Investment With an allowance recorded	222,080	231,591	224,053
Unpaid Principal Balance With an allowance recorded	284,931	284,287	284,342
Related Allowance With an allowance recorded	117,500	117,700	114,800
Average Recorded Investment With an allowance recorded	$ 223,067	$ 232,798	241,965
Recorded Investment With no related allowance recorded			0
Unpaid Principal Balance With no related allowance recorded			0
Average Recorded Investment With no related allowance recorded			$ 15,888

5. Loans, Allowance for Loan 34

5. Loans, Allowance for Loan Losses and Credit Quality (Details 5) - USD ($)	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Group A	$ 470,083,932	$ 473,220,117	$ 433,348,685
Group B	4,300,989	3,652,747	9,865,531
Group C	11,337,324	10,376,362	11,833,969
Total Loans	485,722,245	487,249,226	455,048,185
Commercial and industrial
Group A	66,610,036	67,297,983	58,289,285
Group B	1,709,910	512,329	4,448,662
Group C	745,039	920,261	802,393
Total Loans	69,064,985	68,730,573	63,540,340
Commercial Real Estate
Group A	194,682,293	191,755,393	165,816,389
Group B	2,423,387	2,971,364	4,638,741
Group C	8,034,807	7,001,523	7,750,190
Total Loans	205,140,487	201,728,280	178,205,320
Residential real estate - 1st lien
Group A	160,911,670	164,708,778	159,255,456
Group B	0	0	593,394
Group C	2,017,577	1,983,184	2,745,525
Total Loans	162,929,247	166,691,962	162,594,375
Residential real estate - Jr lien
Group A	41,115,085	42,289,062	43,197,130
Group B	167,692	169,054	184,734
Group C	537,998	469,219	535,861
Total Loans	41,820,775	42,927,335	43,917,725
Consumer
Group A	6,764,848	7,168,901	6,790,425
Group B	0	0	0
Group C	1,903	2,175	0
Total Loans	$ 6,766,751	$ 7,171,076	$ 6,790,425

5. Loans, Allowance for Loan 35

5. Loans, Allowance for Loan Losses and Credit Quality (Details 6)	3 Months Ended		12 Months Ended
	Mar. 31, 2017USD ($)integer	Mar. 31, 2016USD ($)integer	Dec. 31, 2016USD ($)integer
Number of Contracts modified as TDRs | integer		6	10
Pre-Modification Outstanding Recorded Investment		$ 405,497	$ 635,237
Post- Modification Outstanding Recorded Investment		$ 423,263	$ 663,007
Commercial and industrial
Number of Contracts modified as TDRs | integer	1
Pre-Modification Outstanding Recorded Investment	$ 41,857
Post- Modification Outstanding Recorded Investment	$ 57,418
Residential real estate - 1st lien
Number of Contracts modified as TDRs | integer		5	8
Pre-Modification Outstanding Recorded Investment		$ 395,236	$ 572,418
Post- Modification Outstanding Recorded Investment		$ 412,923	$ 598,030
Residential Real Estate Jr Lien
Number of Contracts modified as TDRs | integer		1	2
Pre-Modification Outstanding Recorded Investment		$ 10,261	$ 62,819
Post- Modification Outstanding Recorded Investment		$ 10,340	$ 64,977

5. Loans, Allowance for Loan 36

5. Loans, Allowance for Loan Losses and Credit Quality (Details 7)	3 Months Ended		12 Months Ended
	Mar. 31, 2017USD ($)integer	Mar. 31, 2016USD ($)integer	Dec. 31, 2016USD ($)integer
Number of Contracts | integer	2	3	3
Recorded Investment | $	$ 118,775	$ 285,515	$ 147,787
Commercial
Number of Contracts | integer		1
Recorded Investment | $		$ 79,158
Commercial Real Estate
Number of Contracts | integer		1
Recorded Investment | $		$ 146,519
Residential Real Estate - 1st Lien
Number of Contracts | integer	1	1	2
Recorded Investment | $	$ 64,218	$ 59,838	$ 93,230
Residential Real Estate Jr Lien
Number of Contracts | integer	1		1
Recorded Investment | $	$ 54,557		$ 54,557

5. Loans, Allowance for Loan 37

5. Loans, Allowance for Loan Losses and Credit Quality (Details 8) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Specific Allocation	$ 83,100	$ 92,600

6. Goodwill and Other Intangi38

6. Goodwill and Other Intangible Assets (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Accumulated amortization expense	$ 3,956,484	$ 3,683,789
Amortization expense for the core deposit intangible	$ 68,175	$ 68,175

7. Fair Value (Details)

7. Fair Value (Details) - Fair Value Level 2 - USD ($)	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Assets: (market approach)
U.S. GSE debt securities	$ 17,310,403	$ 17,317,328	$ 12,932,895
Agency MBS	13,557,523	13,154,228	13,605,704
Other investments	2,984,645	3,243,495	3,033,522
Total	$ 33,852,571	$ 33,715,051	$ 29,572,121

7. Fair Value (Details 1)

7. Fair Value (Details 1) - Fair Value Level 2 - USD ($)	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Assets: (market approach)
Residential mortgage servicing rights	$ 1,182,233	$ 1,210,695	$ 1,278,982
Impaired loans, net of related allowance	420,962	508,872	113,891
OREO	$ 561,979	$ 394,000	$ 465,000

7. Fair Value (Details 2)

7. Fair Value (Details 2) - USD ($)	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Carrying Amount
Financial assets: (Dollars in Thousands)
Cash and cash equivalents	$ 32,789	$ 29,614	$ 25,453
Securities held-to-maturity	53,880	49,887	45,552
Securities available-for-sale	33,853	33,715	29,572
Restricted equity securities	2,426	2,756	1,891
Loans and loans held-for-sale
Commercial & Industrial	68,306	67,972	62,773
Commercial real estate	202,504	199,136	175,807
Residential real estate - 1st lien	161,525	165,243	161,686
Residential real estate - Jr. lien	41,427	42,536	43,470
Consumer	6,702	7,084	6,728
Mortgage servicing rights	1,182	1,211	1,279
Accrued interest receivable	2,063	1,819	2,064
Deposits
Deposits, Other deposits	491,435	470,002	468,288
Deposits, Brokered deposits	40,985	34,733	20,612
Federal funds purchased and short-term borrowings	10,000	30,000	10,000
Long-term borrowings	1,550	1,550	350
Repurchase agreements	27,747	30,423	25,149
Capital lease obligations	459	483	537
Subordinated debentures	12,887	12,887	12,887
Accrued interest payable	96	73	61
Fair Value Level 1
Financial assets: (Dollars in Thousands)
Cash and cash equivalents	32,789	29,614	25,453
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	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	0	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	54,853	51,035	46,235
Securities available-for-sale	33,853	33,715	29,572
Restricted equity securities	2,426	2,756	1,891
Loans and loans held-for-sale
Commercial & Industrial	48	48	204
Commercial real estate	728	601	907
Residential real estate - 1st lien	462	941	718
Residential real estate - Jr. lien	105	109	114
Consumer	0	0	0
Mortgage servicing rights	1,302	1,302	1,497
Accrued interest receivable	2,063	1,819	2,064
Deposits
Deposits, Other deposits	490,746	469,323	468,451
Deposits, Brokered deposits	40,986	34,745	20,618
Federal funds purchased and short-term borrowings	9,998	30,000	10,000
Long-term borrowings	1,389	1,376	324
Repurchase agreements	27,747	30,423	25,149
Capital lease obligations	459	483	537
Subordinated debentures	12,846	12,849	12,516
Accrued interest payable	96	73	61
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	68,936	68,727	63,772
Commercial real estate	203,903	201,560	180,164
Residential real estate - 1st lien	163,536	166,858	165,571
Residential real estate - Jr. lien	41,822	42,948	44,085
Consumer	6,953	7,371	7,021
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	0	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
Financial assets: (Dollars in Thousands)
Cash and cash equivalents	32,789	29,614	25,453
Securities held-to-maturity	54,853	51,035	46,235
Securities available-for-sale	33,853	33,715	29,572
Restricted equity securities	2,426	2,756	1,891
Loans and loans held-for-sale
Commercial & Industrial	68,984	68,775	63,976
Commercial real estate	204,631	202,161	181,071
Residential real estate - 1st lien	163,998	167,799	166,289
Residential real estate - Jr. lien	41,927	43,057	44,199
Consumer	6,953	7,371	7,021
Mortgage servicing rights	1,302	1,302	1,497
Accrued interest receivable	2,063	1,819	2,064
Deposits
Deposits, Other deposits	490,746	469,323	468,451
Deposits, Brokered deposits	40,986	34,745	20,618
Federal funds purchased and short-term borrowings	9,998	30,000	10,000
Long-term borrowings	1,389	1,376	324
Repurchase agreements	27,747	30,423	25,149
Capital lease obligations	459	483	537
Subordinated debentures	12,846	12,849	12,516
Accrued interest payable	$ 96	$ 73	$ 61

8. Loan Servicing (Details)

8. Loan Servicing (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Transfers and Servicing of Financial Assets [Abstract]
Balance at beginning of year	$ 1,210,695	$ 1,293,079	$ 1,293,079
Mortgage servicing rights capitalized	28,466	41,424	176,705
Mortgage servicing rights amortized	(56,928)	(63,035)	(266,603)
Change in valuation allowance	0	7,514	7,514
Balance at end of period	$ 1,182,233	$ 1,278,982	$ 1,210,695

10. Subsequent Event (Details)

10. Subsequent Event (Details)	Mar. 31, 2017USD ($)
Subsequent Event [Member]
Dividend accrued	$ 859,851