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Condensed Parent Information | 12 Months Ended
--- | ---
Dec. 31, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] |
Note 21. | Condensed Parent Information
BALANCE SHEETS |  |  |  |  |  |  |
|  | December 31, |  | December 31, |
|  | 2014 |  | 2013 |
ASSETS |  |  |  |  |  |  |
Cash |  | $ | 637,635 |  | $ | 3,376,410 |
Investment in subsidiary |  |  | 39,733,504 |  |  | 38,096,440 |
Other assets |  |  | 334,115 |  |  | 435,972 |
Total assets |  | $ | 40,705,254 |  | $ | 41,908,822 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |
Other liabilities |  | $ | 43,149 |  | $ | 35,094 |
Other borrowings |  |  | - |  |  | 1,740,000 |
Total liabilities |  |  | 43,149 |  |  | 1,775,094 |
Stockholders’ equity |  |  | 40,662,105 |  |  | 40,133,728 |
Total liabilities and stockholders’ equity |  | $ | 40,705,254 |  | $ | 41,908,822 |
STATEMENTS OF INCOME |  |  |  |  |  |  |  |  |  |
|  | Years Ended December 31, |
|  | 2014 |  | 2013 |  | 2012 |
INCOME |  |  |  |  |  |  |  |  |  |
Dividends |  | $ | - |  | $ | - |  | $ | - |
Interest income |  |  | 665 |  |  | 956 |  |  | - |
|  |  | 665 |  |  | 956 |  |  | - |
EXPENSES |  |  |  |  |  |  |  |  |  |
Interest expense |  |  | 19,802 |  |  | 49,836 |  |  | 170,872 |
Other operating expenses |  |  | 476,894 |  |  | 286,105 |  |  | 436,283 |
Loss before equity in undistributed earnings |  |  | (496,031) |  |  | (334,985) |  |  | (607,155) |
Equity in undistributed earnings of subsidiary |  |  | 1,942,913 |  |  | 1,887,294 |  |  | 1,775,918 |
Income tax benefit |  |  | 191,400 |  |  | 128,500 |  |  | 233,300 |
Net income |  |  | 1,638,282 |  |  | 1,680,809 |  |  | 1,402,063 |
Preferred stock dividend requirements |  |  | 1,500,000 |  |  | 1,500,000 |  |  | 1,229,780 |
Accretion on preferred stock discount |  |  | 71,382 |  |  | 71,381 |  |  | 63,924 |
Net income available to common shareholders |  | $ | 66,900 |  | $ | 109,428 |  | $ | 108,359 |
|  | 2014 |  | 2013 |  | 2012 |
STATEMENTS OF CASH FLOWS |  |  |  |  |  |  |  |  |  |
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 1,638,282 |  | $ | 1,680,809 |  | $ | 1,402,063 |
Adjustments to reconcile net income to net cash |  |  |  |  |  |  |  |  |  |
used in operating activities: |  |  |  |  |  |  |  |  |  |
Stock compensation expense |  |  | - |  |  | - |  |  | 74,048 |
Equity in undistributed income of subsidiary |  |  | (1,152,913) |  |  | (1,887,294) |  |  | (1,775,918) |
Other |  |  | 15,856 |  |  | 110,651 |  |  | 1,719,222 |
Net cash used in operating activities |  |  | 501,225 |  |  | (95,834) |  |  | 1,419,415 |
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |
Net repayments under other borrowings |  |  | (1,740,000) |  |  | (435,000) |  |  | (870,000) |
Issuance of preferred stock |  |  | - |  |  | - |  |  | 4,858,078 |
Payment of preferred dividends |  |  | (1,500,000) |  |  | (1,433,893) |  |  | (985,917) |
Net cash (used in) provided by financing activities |  |  | (3,240,000) |  |  | (1,868,893) |  |  | 3,002,161 |
NET (DECREASE) INCREASE IN CASH AND CASH |  |  |  |  |  |  |  |  |  |
EQUIVALENTS |  |  | (2,738,775) |  |  | (1,964,727) |  |  | 4,421,576 |
CASH AND CASH EQUIVALENTS, beginning of year |  |  | 3,376,410 |  |  | 5,341,137 |  |  | 919,561 |
CASH AND CASH EQUIVALENTS, end of year |  | $ | 637,635 |  | $ | 3,376,410 |  | $ | 5,341,137 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW |  |  |  |  |  |  |  |  |  |
INFORMATION |  |  |  |  |  |  |  |  |  |
Cash paid during the year for: |  |  |  |  |  |  |  |  |  |
Interest |  | $ | 19,802 |  | $ | 85,236 |  | $ | 174,473 |
Income taxes |  |  | - |  |  | - |  |  | - |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 06 -Article 9 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e24072-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7656940&loc=d3e5283-111683 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Article 12 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Article 5 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 05 -Paragraph c -Article 7 + Details
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