CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
ASSETS
Cash and due from banks	$ 7,096,424	$ 9,773,893
Interest-bearing deposits at the Federal Reserve	100,059,700	39,320,526
Investment securities available for sale	92,415,838	100,449,956
Mortgage loans to be sold	5,353,044	5,062,398
Loans	278,375,660	274,072,560
Less: Allowance for loan losses	(4,014,213)	(4,003,758)
Net loans	274,361,447	270,068,802
Premises, equipment and leasehold improvements,net	4,264,334	4,290,435
Right of use asset	13,091,300	13,209,217
Accrued interest receivable	1,233,584	1,309,772
Other assets	1,844,529	1,527,521
Total assets	499,720,200	445,012,520
Deposits:
Non-interest bearing demand	186,228,869	125,621,031
Interest bearing demand	118,303,829	125,175,935
Money market accounts	68,715,996	68,964,879
Time deposits over $250,000	4,969,834	5,967,559
Other time deposits	16,211,718	16,215,228
Other savings deposits	37,951,287	37,247,023
Total deposits	432,381,533	379,191,655
Accrued interest payable and other liabilities	1,821,140	1,443,616
Lease liability	13,091,300	13,209,217
Total liabilities	447,293,973	393,844,488
Shareholders' equity
Common stock - no par 12,000,000 shares authorized; Issued 5,799,999 shares at March 31, 2020 and 5,799,637 shares at December 31, 2019. Shares outstanding 5,530,363 and 5,530,001 at March 31, 2020 and December 31, 2019, respectively.
Additional paid in capital	47,151,941	47,131,034
Retained earnings	6,515,681	5,879,409
Treasury stock: 269,636 shares at March 31, 2020 and December 31, 2019	(2,325,225)	(2,325,225)
Accumulated other comprehensive income, net of income taxes	1,083,830	482,814
Total shareholders' equity	52,426,227	51,168,032
Total liabilities and shareholders' equity	$ 499,720,200	$ 445,012,520