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Note 22 - Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Derivative Instruments [Table Text Block]

December 31, 2019

Forward Start

Termination

Derivative

Notional

Rate

Balance Sheet

Estimated Fair Value at:

Inception Date

Date

Type

Amount

Paid

Hedged

Classfication

December 31, 2019

December 31, 2018

2/28/2018

2/28/2025

Interest rate swap - FHLB Advances

50,000,000

2.12

3 month LIBOR Floating

Other liabilites

(1,067,935

)

1,271,538

5/23/2019

2/23/2026

Interest rate swap - Subordinated Debentures

10,310,000

4.09

3 month LIBOR Floating +145 bps

Other liabilites

(560,388

)

Derivative Instruments, Gain (Loss) [Table Text Block]

Derivative	Income Statement	Years ended December 31,
Type	Classfication	2019			2018

Interest rate swap - FHLB Advances	Interest expense	$	(155,062	)	$	(60,388	)

Interest rate swap - Subordinated Debentures	Interest expense	$	24,065			-

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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+ Details