DISCLOSURES REGARDING FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 4) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Financial Assets:
Investment securities available for sale	$ 119,668,874	$ 139,250,250
Level 1 [Member]
Financial 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	32,356,634	35,559,845
Level 2 [Member]
Financial Assets:
Investment securities available for sale	81,070,285	92,231,516
Mortgage loans to be sold	1,199,438	2,093,723
Accrued interest receivable	1,561,915	1,720,920
Financial Liabilities:
Demand deposits	347,909,663	360,967,884
Time deposits	38,747,898	40,722,870
Accrued interest payable	163,876	96,190
Level 3 [Member]
Financial Assets:
Investment securities available for sale	6,241,955	11,458,889
Loans, net	263,780,751	265,277,204
Carrying Amount [Member]
Financial 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	119,668,874	139,250,250
Mortgage loans to be sold	1,199,438	2,093,723
Loans, net	270,449,936	266,305,242
Accrued interest receivable	1,561,915	1,720,920
Financial Liabilities:
Demand deposits	347,909,663	360,967,884
Time deposits	34,468,725	41,920,416
Accrued interest payable	163,876	96,190
Estimated Fair Value [Member]
Financial 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	119,668,874	139,250,250
Mortgage loans to be sold	1,199,438	2,093,723
Loans, net	263,780,751	265,277,204
Accrued interest receivable	1,561,915	1,720,920
Financial Liabilities:
Demand deposits	347,909,663	360,967,884
Time deposits	38,747,898	40,722,870
Accrued interest payable	$ 163,876	$ 96,190