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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2018
Dec. 31, 2017
ASSETS    
Cash and due from banks $ 6,325,457 $ 8,486,025
Interest-bearing deposits at the Federal Reserve 25,506,784 24,034,194
Investment securities available for sale (amortized cost of $121,918,501 and $140,606,807 in 2018 and 2017, respectively) 119,668,874 139,250,250
Mortgage loans to be sold 1,199,438 2,093,723
Loans 274,664,267 270,180,640
Less: Allowance for loan losses (4,214,331) (3,875,398)
Net loans 270,449,936 266,305,242
Premises, equipment and leasehold improvements, net 2,335,207 2,244,525
Other real estate owned   435,479
Accrued interest receivable 1,561,915 1,720,920
Other assets 2,087,587 1,996,140
Total assets 429,135,198 446,566,498
Deposits:    
Non-interest-bearing demand 130,940,138 139,256,748
Interest-bearing demand 94,207,731 108,967,196
Money market accounts 87,300,433 77,833,728
Time deposits over $250,000 15,909,991 18,624,924
Other time deposits 18,558,734 23,295,492
Other savings deposits 35,461,361 34,910,212
Total deposits 382,378,388 402,888,300
Accrued interest payable and other liabilities 1,294,249 913,563
Total liabilities 383,672,637 403,801,863
Commitments and contingencies Notes 6 and 11  
Shareholders' equity    
Common stock - no par 12,000,000 shares authorized; Issued 5,777,474 shares at December 31, 2018 and 5,753,743 shares at December 31, 2017. Shares outstanding 5,510,917 and 5,488,207 at December 31, 2018 and December 31, 2017, respectively 0 0
Additional paid in capital 46,857,734 37,236,566
Retained earnings 2,650,296 8,847,164
Treasury stock: 266,557 shares as of December 31, 2018 and 265,536 shares as of December 31, 2017 (2,268,264) (2,247,415)
Accumulated other comprehensive loss, net of income taxes (1,777,205) (1,071,680)
Total shareholders' equity 45,462,561 42,764,635
Total liabilities and shareholders' equity $ 429,135,198 $ 446,566,498