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Note 18 - Commitments and Contingencies | 12 Months Ended
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Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies Disclosure [Text Block] |
(18) |  | COMMITMENTS AND CONTINGENCIES
In the normal course of business, there are outstanding various commitments and contingent liabilities, such as commitments to extend credit and legal claims, which are not reflected in the consolidated financial statements. Commitments under outstanding standby letters of credit totaled $1.3 million and $693,000 at December 31, 2015 and 2014, respectively. The following is a summary of the commitments to extend credit at December 31, 2015 and 2014:
(In thousands) |  | 2015 |  | 2014
Loan commitments: |  |  |  |  |  |  |  |
Fixed rate |  | $ | 4,007 |  |  | $ | 351 |
Adjustable rate |  |  | 3,854 |  |  |  | 7,062 |
Unused lines of credit on credit cards |  |  | 4,429 |  |  |  | 4,732 |
Undisbursed commercial and personal lines of credit |  |  | 29,359 |  |  |  | 19,390 |
Undisbursed portion of construction loans in process |  |  | 4,869 |  |  |  | 3,325 |
Undisbursed portion of home equity lines of credit |  |  | 26,910 |  |  |  | 24,206 |
Total commitments to extend credit |  | $ | 73,428 |  |  | $ | 59,066 |
At December 31, 2015, the Company had a commitment of approximately $543,000, net of a $20,000 deposit previously paid, to acquire land for a future branch site. The transaction is expected to be completed in 2016.

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