XML 33 R22.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Note 5 - Fair Value (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2017
Notes Tables |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] |
|  |  |  |  |  | Fair Value Measurements at Reporting Date Using |
|  |  |  |  |  | Quoted Prices |  |  | Significant |  |  |  |  |
|  |  |  |  |  | in Active |  |  | Other |  |  | Significant |
|  |  |  |  |  | Markets for |  |  | Observable |  |  | Unobservable |
|  |  |  |  |  | Identical Assets |  |  | Inputs |  |  | Inputs |
|  | Fair Value |  |  | (Level 1) |  |  | (Level 2) |  |  | (Level 3) |
June 30, 2017: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities AFS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. govt. sponsored agency securities |  | $ | 41,944,464 |  |  | $ | - |  |  | $ | 41,944,464 |  |  | $ | - |
Residential mortgage-backed and related securities |  |  | 164,414,833 |  |  |  | - |  |  |  | 164,414,833 |  |  |  | - |
Municipal securities |  |  | 58,100,510 |  |  |  | - |  |  |  | 58,100,510 |  |  |  | - |
Other securities |  |  | 4,821,906 |  |  |  | 1,050 |  |  |  | 4,820,856 |  |  |  | - |
Interest rate caps |  |  | 398,973 |  |  |  | - |  |  |  | 398,973 |  |  |  | - |
Interest rate swaps - assets |  |  | 2,547,466 |  |  |  | - |  |  |  | 2,547,466 |  |  |  | - |
Total assets measured at fair value |  | $ | 272,228,152 |  |  | $ | 1,050 |  |  | $ | 272,227,102 |  |  | $ | - |
Interest rate swaps - liabilities |  | $ | 2,547,466 |  |  | $ | - |  |  | $ | 2,547,466 |  |  | $ | - |
Total liabilities measured at fair value |  | $ | 2,547,466 |  |  | $ | - |  |  | $ | 2,547,466 |  |  | $ | - |
December 31, 2016 : |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Securities AFS: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. govt. sponsored agency securities |  | $ | 46,083,607 |  |  | $ | - |  |  | $ | 46,083,607 |  |  | $ | - |
Residential mortgage-backed and related securities |  |  | 147,702,127 |  |  |  | - |  |  |  | 147,702,127 |  |  |  | - |
Municipal securities |  |  | 52,604,426 |  |  |  | - |  |  |  | 52,604,426 |  |  |  | - |
Other securities |  |  | 4,722,979 |  |  |  | 1,361 |  |  |  | 4,721,618 |  |  |  | - |
Interest rate caps |  |  | 576,527 |  |  |  | - |  |  |  | 576,527 |  |  |  | - |
Interest rate swaps - assets |  |  | 2,338,281 |  |  |  | - |  |  |  | 2,338,281 |  |  |  | - |
Total assets measured at fair value |  | $ | 254,027,947 |  |  | $ | 1,361 |  |  | $ | 254,026,586 |  |  | $ | - |
Interest rate swaps - liabilities |  | $ | 2,338,281 |  |  | $ | - |  |  | $ | 2,338,281 |  |  | $ | - |
Total liabilities measured at fair value |  | $ | 2,338,281 |  |  | $ | - |  |  | $ | 2,338,281 |  |  | $ | - |
|  |  |  |  |  | Fair Value Measurements at Reporting Date Using |
|  | Fair Value |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
June 30, 2017: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans/leases |  | $ | 11,760,878 |  |  | $ | - |  |  | $ | - |  |  | $ | 11,760,878 |
OREO |  |  | 5,587,403 |  |  |  | - |  |  |  | - |  |  |  | 5,587,403 |
|  | $ | 17,348,281 |  |  | $ | - |  |  | $ | - |  |  | $ | 17,348,281 |
December 31, 2016: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Impaired loans/leases |  | $ | 12,823,121 |  |  | $ | - |  |  | $ | - |  |  | $ | 12,823,121 |
OREO |  |  | 5,964,952 |  |  |  | - |  |  |  | - |  |  |  | 5,964,952 |
|  | $ | 18,788,073 |  |  | $ | - |  |  | $ | - |  |  | $ | 18,788,073 |
Fair Value Inputs, Assets, Quantitative Information [Table Text Block] |
|  | Quantitative Information about Level Fair Value Measurements |
|  | Fair Value June 30, 2017 |  |  | Fair Value December 31, 2016 |  | Valuation Technique | Unobservable Input |  | Range |
Impaired loans/leases |  | $ | 11,760,878 |  |  | $ | 12,823,121 |  | Appraisal of collateral | Appraisal adjustments |  | -10.00% | to | -50.00% |
OREO |  |  | 5,587,403 |  |  |  | 5,964,952 |  | Appraisal of collateral | Appraisal adjustments |  | 0.00% | to | -35.00% |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] |
| Fair Value |  | As of June 30, 2017 |  |  | As of December 31, 2016 |
| Hierarchy |  | Carrying |  |  | Estimated |  |  | Carrying |  |  | Estimated |
| Level |  | Value |  |  | Fair Value |  |  | Value |  |  | Fair Value |
Cash and due from banks | Level 1 |  | $ | 77,161,353 |  |  | $ | 77,161,353 |  |  | $ | 70,569,993 |  |  | $ | 70,569,993 |
Federal funds sold | Level 2 |  |  | 19,183,000 |  |  |  | 19,183,000 |  |  |  | 22,257,000 |  |  |  | 22,257,000 |
Interest-bearing deposits at financial institutions | Level 2 |  |  | 53,171,325 |  |  |  | 53,171,325 |  |  |  | 63,948,925 |  |  |  | 63,948,925 |
Investment securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
HTM | Level 2 |  |  | 324,203,634 |  |  |  | 322,989,377 |  |  |  | 322,909,056 |  |  |  | 320,414,899 |
AFS | See Previous Table |  |  | 269,281,713 |  |  |  | 269,281,713 |  |  |  | 251,113,139 |  |  |  | 251,113,139 |
Loans/leases receivable, net | Level 3 |  |  | 10,889,702 |  |  |  | 11,760,878 |  |  |  | 11,873,260 |  |  |  | 12,823,121 |
Loans/leases receivable, net | Level 2 |  |  | 2,509,319,274 |  |  |  | 2,491,370,000 |  |  |  | 2,362,856,277 |  |  |  | 2,344,462,740 |
Interest rate caps | Level 2 |  |  | 398,973 |  |  |  | 398,973 |  |  |  | 576,527 |  |  |  | 576,527 |
Interest rate swaps - assets | Level 2 |  |  | 2,547,466 |  |  |  | 2,547,466 |  |  |  | 2,338,281 |  |  |  | 2,338,281 |
Deposits: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nonmaturity deposits | Level 2 |  |  | 2,311,779,642 |  |  |  | 2,311,779,642 |  |  |  | 2,188,683,349 |  |  |  | 2,188,683,349 |
Time deposits | Level 2 |  |  | 558,454,597 |  |  |  | 557,833,000 |  |  |  | 480,577,924 |  |  |  | 479,605,000 |
Short-term borrowings | Level 2 |  |  | 18,217,393 |  |  |  | 18,217,393 |  |  |  | 39,971,387 |  |  |  | 39,971,387 |
FHLB advances | Level 2 |  |  | 106,500,000 |  |  |  | 107,071,000 |  |  |  | 137,500,000 |  |  |  | 138,338,000 |
Other borrowings | Level 2 |  |  | 72,000,000 |  |  |  | 73,041,000 |  |  |  | 80,000,000 |  |  |  | 81,282,000 |
Junior subordinated debentures | Level 2 |  |  | 33,546,425 |  |  |  | 25,169,023 |  |  |  | 33,480,202 |  |  |  | 24,881,494 |
Interest rate swaps - liabilities | Level 2 |  |  | 2,547,466 |  |  |  | 2,547,466 |  |  |  | 2,338,281 |  |  |  | 2,338,281 |

X
- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=66048111&loc=SL7498348-110258 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets. This disclosure may include, but is not limited to, the fair value of the asset, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueInputsAssetsQuantitativeInformationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_TableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration