Securities (Tables)

9 Months Ended

Sep. 30, 2014

Investments, Debt and Equity Securities [Abstract]

Schedule Of Available For Sale Securities and Held To Maturity Reconciliation [Table Text Block]

The amortized cost and fair value of securities available-for-sale and held to maturity at September 30, 2014 and December 31, 2013 are summarized as follows:

	September 30, 2014
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value

Debt securities available-for-sale:
U.S. Government agencies	$	665,442	$	1,129	$	-	$	666,571

State and municipal securities		8,531,200		379,818		(9,352)		8,901,666

Mortgage-backed securities:
Residential mortgage guaranteed by GNMA or FNMA		5,007,711		28,201		(2,176)		5,033,736

Collateralized mortgage obligations issued or guaranteed by U.S. Government agencies or sponsored agencies		63,878,188		103,753		(334,242)		63,647,699

	$	78,082,541	$	512,901	$	(345,770)	$	78,249,672

Debt securities held to maturity:
Mortgage-backed securities:
Residential mortgage guaranteed by GNMA or FNMA	$	29,374	$	269	$	-	$	29,643

	December 31, 2013
			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		Losses		Value

Debt securities available-for-sale:
U.S. Government agencies	$	3,433,216	$	48,119	$	-	$	3,481,335

State and municipal securities		14,908,761		425,021		(84,544)		15,249,238

Mortgage-backed securities:
Residential mortgage guaranteed by GNMA or FNMA		7,047,076		85,203		-		7,132,279

Collateralized mortgage obligations issued or guaranteed by U.S. Government agencies or sponsored agencies		66,408,975		205,025		(268,180)		66,345,820

	$	91,798,028	$	763,368	$	(352,724)	$	92,208,672

Debt securities held to maturity:
Mortgage-backed securities:
Residential mortgage guaranteed by GNMA or FNMA	$	34,165	$	862	$	-	$	35,027

Investments Classified by Contractual Maturity Date [Table Text Block]

Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Securities Available-for-Sale				Securities Held to Maturity
	Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value
Due in one year or less	$	-	$	-	$	-	$	-
Due from one year to five years		899,608		941,779		-		-
Due from five years to ten years		2,273,458		2,377,974		-		-
Due after ten years		6,023,576		6,248,484		-		-
		9,196,642		9,568,237		-		-


Mortgage-backed securities		68,885,899		68,681,435		29,374		29,643

	$	78,082,541	$	78,249,672	$	29,374	$	29,643

Schedule of Unrealized Loss on Investments [Table Text Block]

The following tables present the gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities available-for-sale have been in a continuous unrealized loss position, as of September 30, 2014 and as of December 31, 2013:

	As of September 30, 2014
	Less than 12 Months				12 Months or Greater				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses

State and municipal securities	$	-	$	-	$	1,186,827	$	(9,352)	$	1,186,827	$	(9,352)

Residential mortgage guaranteed by GNMA or FNMA		1,378,605		(2,176)		-		-		1,378,605		(2,176)

Collateralized mortgage obligations issued or guaranteed by U.S. Government agencies or sponsored agencies		4,791,083		(12,038)		42,589,031		(322,204)		47,380,114		(334,242)
	$	6,169,688	$	(14,214)	$	43,775,858	$	(331,556)	$	49,945,546	$	(345,770)

	As of December 31, 2013
	Less than 12 Months				12 Months or Greater				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses

State and municipal securities	$	3,025,250	$	(84,544)	$	-	$	-	$	3,025,250	$	(84,544)

Collateralized mortgage obligations issued or guaranteed by U.S. Government agencies or sponsored agencies		27,782,942		(221,827)		8,761,049		(46,353)		36,543,991		(268,180)
	$	30,808,192	$	(306,371)	$	8,761,049	$	(46,353)	$	39,569,241	$	(352,724)