DISCLOSURES REGARDING FAIR VALUE OF FINANCIAL INSTRUMENTS (Details 4) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Financial Assets:
Investment securities available for sale	$ 134,819,818	$ 100,449,956
Level 1 [Member]
Financial Assets:
Cash and due from banks	5,977,896	9,773,893
Interest-bearing deposits at the Federal Reserve	42,348,085	39,320,526
Investment securities available for sale	20,410,550	23,180,200
Level 2 [Member]
Financial Assets:
Investment securities available for sale	108,725,338	65,315,305
Mortgage loans to be sold	12,965,733	5,062,398
Accrued interest receivable	1,595,629	1,309,772
Financial Liabilities:
Demand deposits	441,498,500	357,008,868
Time deposits	20,294,852	21,962,039
Accrued interest payable	20,707	38,748
Level 3 [Member]
Financial Assets:
Investment securities available for sale	5,683,930	11,954,451
Loans, net	308,721,680	271,736,572
Carrying Amount [Member]
Financial Assets:
Cash and due from banks	5,977,896	9,773,893
Interest-bearing deposits at the Federal Reserve	42,348,085	39,320,526
Investment securities available for sale	134,819,818	100,449,956
Mortgage loans to be sold	12,965,733	5,062,398
Loans, net	316,616,979	270,068,802
Accrued interest receivable	1,595,629	1,309,772
Financial Liabilities:
Demand deposits	441,498,500	357,008,868
Time deposits	20,699,131	22,182,787
Accrued interest payable	20,707	38,748
Estimated Fair Value [Member]
Financial Assets:
Cash and due from banks	5,977,896	9,773,893
Interest-bearing deposits at the Federal Reserve	42,348,085	39,320,526
Investment securities available for sale	134,819,818	100,449,956
Mortgage loans to be sold	12,965,733	5,062,398
Loans, net	308,721,680	271,736,572
Accrued interest receivable	1,595,629	1,309,772
Financial Liabilities:
Demand deposits	441,498,500	357,008,868
Time deposits	20,294,852	21,962,039
Accrued interest payable	$ 20,707	$ 38,748