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Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

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, 2015												December 31, 2014
		Level 1				Level 2				Total				Level 1				Level 2				Total
U.S. Treasury notes and bonds		$	—			$	—			$	—			$	1,338,010			$	—			$	1,338,010
U.S. Agency issued mortgage-backed securities - variable rate		—				5,700,335				5,700,335				—				4,003,375				4,003,375
U.S. Agency notes and bonds - fixed rate		—				2,447,066				2,447,066				—				3,251,336				3,251,336
SBA loan pools - variable rate		—				1,681,714				1,681,714				—				1,413,697				1,413,697
Municipal bonds - VRDN		4,735,000				—				4,735,000				4,835,000				—				4,835,000
Total fair value of marketable securities		$	4,735,000			$	9,829,115			$	14,564,115			$	6,173,010			$	8,668,408			$	14,841,418

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- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19279-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a,b,bb)
-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2C
-URI http://asc.fasb.org/extlink&oid=36462937&loc=SL7498348-110258

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258

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- References

No definition available.

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