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Note 7 - Derivatives and Hedging Activities | 12 Months Ended
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Dec. 31, 2017
Notes to Financial Statements |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | Note 7. Derivatives and Hedging Activities Below is a summary of the interest rate cap derivatives held by the Company as of December 31, 2017 and 2016. An initial premium of $2.1 million was paid upfront for the two caps. The fair value of these instruments will fluctuate with market value changes, as well as amortization of the initial premium to interest expense.
Effective Date | Maturity Date | Balance Sheet Location |  | Notional Amount |  | Accounting Treatment |  | December 31, 2017 Fair Value |  |  | December 31, 2016 Fair Value |
June 5, 2014 | June 5, 2019 | Other Assets |  | $ | 15,000,000 |  | Cash Flow Hedging |  | $ | 190,085 |  |  | $ | 179,939 |
June 5, 2014 | June 5, 2021 | Other Assets |  |  | 15,000,000 |  | Cash Flow Hedging |  |  | 316,615 |  |  |  | 396,588 |
|  |  |  | $ | 30,000,000 |  |  |  | $ | 506,700 |  |  | $ | 576,527 |
Changes in the fair values of derivative financial instruments accounted for as cash flow hedges to the extent they are effective hedges, are recorded as a component of accumulated other comprehensive income. The following is a summary of how AOCI was impacted during the reporting periods:
|  | Year Ended |
|  | December 31, 2017 |  |  | December 31, 2016 |
Unrealized loss at beginning of period, net of tax |  | $ | (932,156 | ) |  | $ | (799,421 | )
Amount reclassified from accumulated other comprehensive income to noninterest income related to hedge ineffectiveness |  |  | - |  |  |  | (76,797 | )
Amount reclassified from accumulated other comprehensive income to noninterest expense related to hedge ineffectiveness |  |  | 79,757 |  |  |  | - |
Amount reclassified from accumulated other comprehensive income to interest expense related to caplet amortization |  |  | 405,134 |  |  |  | 152,087 |
Amount of loss recognized in other comprehensive income, net of tax |  |  | (357,762 | ) |  |  | (208,025 | )
Unrealized loss at end of period, net of tax |  | $ | (805,027 | ) |  | $ | (932,156 | )
Changes in the fair value related to the ineffective portion of cash flow hedges, are reported in noninterest income during the period of the change. As shown in the table above, $79,757 of expense and $76,797 of income from the change in fair value for the years ending December 31, 2017 and 2016, respectively, was due to ineffectiveness.

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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details
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