Note 4 - Securities (Tables)

3 Months Ended

Mar. 31, 2020

Notes Tables

Debt Securities, Available-for-sale [Table Text Block]

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Approximate Fair Value
As of March 31, 2020
Debt Securities:
U. S. government agencies	$	2,499,762	$	15,578	$	-		$	2,515,340
Municipals		43,680,501		1,528,568		(161,032	)		45,048,037
Corporates		21,655,250		255,018		(369,281	)		21,540,987
Mortgage-backed securities - private label		14,239,775		1,638		(680,781	)		13,560,632
Government sponsored asset-backed securities and SBA loan pools		55,850,994		1,631,109		(137,645	)		57,344,458
	$	137,926,282	$	3,431,911	$	(1,348,739	)	$	140,009,454

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Approximate Fair Value
As of December 31, 2019
Debt Securities:
U. S. government agencies	$	2,499,755	$	-	$	(11,962	)	$	2,487,793
Municipals		35,625,038		675,382		(125,693	)		36,174,727
Corporates		15,395,190		154,942		(14,945	)		15,535,187
Mortgage-backed securities - private label		13,788,728		52,035		(29,392	)		13,811,371
Government sponsored mortgage-backed securities and SBA loan pools		49,844,049		585,641		(193,454	)		50,236,236
	$	117,152,760	$	1,468,000	$	(375,446	)	$	118,245,314

Available-for-sale Securities [Table Text Block]

	Amortized Cost		Approximate Fair Value
1-5 years	$	150,000	$	150,243
6-10 years		25,335,491		25,396,479
After 10 years		42,350,022		43,557,642
Mortgage-backed securities - private label not due on a single maturity date		14,239,775		13,560,632
Government sponsored asset-backed securities and SBA loan pools not due on a single maturity date		55,850,994		57,344,458
	$	137,926,282	$	140,009,454

Schedule of Unrealized Loss on Investments [Table Text Block]

As of March 31, 2020
	Less than 12 Months					12 Months or More				Total
Description of Securities	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Municipals	$	4,865,016	$	(161,032	)	$	-	$	-	$	4,865,016	$	(161,032	)
Corporates		6,697,422		(369,281	)		-		-		6,697,422		(369,281	)
Mortgage-backed securities - private label		12,527,985		(680,781	)		-		-		12,527,985		(680,781	)
Government sponsored asset-backed securities and SBA loan pools		5,956,983		(137,645	)		-		-		5,956,983		(137,645	)
	$	30,047,406	$	(1,348,739	)	$	-	$	-	$	30,047,406	$	(1,348,739	)

As of December 31, 2019
	Less than 12 Months					12 Months or More					Total
Description of Securities	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
U.S. government agencies	$	2,487,795	$	(11,962	)	$	-	$	-		$	2,487,795	$	(11,962	)
Municipals		7,083,208		(125,693	)		-		-			7,083,208		(125,693	)
Corporates		2,452,005		(14,945	)		-		-			2,452,005		(14,945	)
Mortgage-backed securities - private label		9,416,669		(29,392	)		-		-			9,416,669		(29,392	)
Government sponsored mortgage-backed securities and SBA loan pools		18,112,148		(125,906	)		3,018,538		(67,548	)		21,130,686		(193,454	)
	$	39,551,825	$	(307,898	)	$	3,018,538	$	(67,548	)	$	42,570,363	$	(375,446	)