Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of fair value of financial instruments by level in hierarchy

The following table summarizes the fair value of these marketable securities by level within the fair value hierarchy:



	December 31, 2014						December 31, 2013
	Level 1		Level 2		Total		Level 1		Level 2		Total

U.S. Treasury notes and bonds	$	1,338,010	$	—	$	1,338,010	$	2,829,809	$	—	$	2,829,809
U.S. Agency issued mortgage-backed securities - variable rate	—		4,003,375		4,003,375		—		3,049,754		3,049,754
U.S. Agency notes and bonds - fixed rate	—		3,251,336		3,251,336		—		1,496,700		1,496,700
SBA loan pools - variable rate	—		1,413,697		1,413,697		—		1,748,498		1,748,498
Municipal bonds - VRDN	4,835,000		—		4,835,000		4,895,000		—		4,895,000
Total fair value of marketable securities	$	6,173,010	$	8,668,408	$	14,841,418	$	7,724,809	$	6,294,952	$	14,019,761

- 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.

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