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Note 9 - Acquisition of Community State Bank and Common Stock Offering (Tables) | 9 Months Ended
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Sep. 30, 2016
Notes Tables |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] |
|  | As of |
|  | August 31, 2016 |
ASSETS |  |  |  |
Cash and due from banks |  | $ | 10,094,645 |
Federal funds sold |  |  | 698,000 |
Interest-bearing deposits at financial institutions |  |  | 14,730,157 |
Securities |  |  | 102,640,029 |
Loans/leases receivable, net |  |  | 419,029,277 |
Premises and equipment |  |  | 20,684,880 |
Core deposit intangible |  |  | 6,352,653 |
Restricted investment securities |  |  | 1,512,900 |
Other real estate owned |  |  | 650,000 |
Other assets |  |  | 4,763,224 |
Total assets acquired |  | $ | 581,155,765 |
LIABILITIES |  |  |  |
Deposits |  | $ | 486,298,262 |
FHLB advances |  |  | 20,368,877 |
Other liabilities |  |  | 4,897,564 |
Total liabilities assumed |  | $ | 511,564,703 |
Net assets acquired |  | $ | 69,591,062 |
CONSIDERATION PAID: |  |  |  |
Cash |  | $ | 80,000,000 |
Total consideration paid |  | $ | 80,000,000 |
Goodwill |  | $ | 10,408,938 |
Business Combination, Purchased Loans as of The Acquisition Date [Table Text Block] |
|  | PCI |  |  | Performing |  |  |  |  |
|  | Loans |  |  | Loans |  |  | Total |
Contractually required principal payments |  | $ | 3,662,431 |  |  | $ | 428,552,119 |  |  | $ | 432,214,550 |
Nonaccretable discount |  |  | (991,685 | ) |  |  | - |  |  |  | (991,685 | )
Principal cash flows expected to be collected |  | $ | 2,670,746 |  |  | $ | 428,552,119 |  |  | $ | 431,222,865 |
Accretable discount |  |  | (277,579 | ) |  |  | (11,916,009 | ) |  |  | (12,193,588 | )
Fair Value of acquired loans |  | $ | 2,393,167 |  |  | $ | 416,636,110 |  |  | $ | 419,029,277 |
Certain Loans Acquired in Transfer Accounted for as Debt Securities Accretable Yield Movement Schedule [Table Text Block] |
|  | PCI |  |  | Performing |  |  |  |  |
|  | Loans |  |  | Loans |  |  | Total |
Balance at the beginning of the period |  |  | (277,579 | ) |  |  | (11,916,009 | ) |  |  | (12,193,588 | )
Accretion recognized |  |  | 29,317 |  |  |  | 366,293 |  |  |  | 395,610 |
Balance at the end of the period |  | $ | (248,262 | ) |  | $ | (11,549,716 | ) |  | $ | (11,797,978 | )
Core Deposit [Table Text Block] |
|  | September 30, 2016 |
Balance at the beginning of the period |  | $ | 6,352,653 |
Amortization expense |  |  | (60,834 | )
Balance at the end of the period |  | $ | 6,291,819 |
Gross carrying amount |  | $ | 6,352,653 |
Accumulated amortization |  |  | (60,834 | )
Net book value |  | $ | 6,291,819 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] |
Years ending December 31, |  | Amount |
2016 |  | $ | 182,503 |
2017 |  |  | 723,955 |
2018 |  |  | 710,751 |
2019 |  |  | 694,374 |
2020 |  |  | 674,819 |
Thereafter |  |  | 3,305,417 |
|  | $ | 6,291,819 |
Business Acquisition, Pro Forma Information [Table Text Block] |
|  | Three months ended |  |  | Nine months ended |
|  | September 30, |  |  | September 30, |
|  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
|  | (in thousands, except for per share data) |
Interest income |  | $ | 27,615 |  |  | $ | 25,685 |  |  | $ | 80,755 |  |  | $ | 73,051 |
Noninterest income |  | $ | 11,415 |  |  | $ | 8,074 |  |  | $ | 27,744 |  |  | $ | 23,167 |
Net income |  | $ | 7,301 |  |  | $ | 8,216 |  |  | $ | 23,813 |  |  | $ | 15,324 |
Earnings per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.56 |  |  | $ | 0.64 |  |  | $ | 1.85 |  |  | $ | 1.38 |
Diluted |  | $ | 0.55 |  |  | $ | 0.63 |  |  | $ | 1.82 |  |  | $ | 1.36 |

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