Note 4 - Securities (Tables)

9 Months Ended

Sep. 30, 2020

Notes Tables

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

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Approximate Fair Value
As of September 30, 2020
Debt Securities:
U. S. government agencies	$	7,282,000	$	19,524	$	-		$	7,301,524
Municipals		53,659,414		2,588,022		(34,637	)		56,212,799
Corporates		27,572,087		213,432		(146,793	)		27,638,726
Mortgage-backed securities - private label		13,145,778		237,257		(51,732	)		13,331,303
Government sponsored asset-backed securities and SBA loan pools		46,342,320		1,450,530		(40,694	)		47,752,156
	$	148,001,599	$	4,508,765	$	(273,856	)	$	152,236,508

	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	$	1,151,319	$	1,149,719
6-10 years		42,499,397		43,180,499
After 10 years		44,862,785		46,822,831
Mortgage-backed securities - private label not due on a single maturity date		13,145,778		13,331,303
Government sponsored asset-backed securities and SBA loan pools not due on a single maturity date		46,342,320		47,752,156
	$	148,001,599	$	152,236,508

Schedule of Unrealized Loss on Investments [Table Text Block]

As of September 30, 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
U.S. government agencies	$	-	$	-		$	-	$	-	$	-	$	-
Municipals		3,038,531		(34,637	)		-		-		3,038,531		(34,637	)
Corporates		9,177,777		(146,793	)		-		-		9,177,777		(146,793	)
Mortgage-backed securities - private label		5,305,270		(51,732	)		-		-		5,305,270		(51,732	)
Government sponsored asset-backed securities and SBA loan pools		11,923,123		(40,694	)		-		-		11,923,123		(40,694	)
	$	29,444,701	$	(273,856	)	$	-	$	-	$	29,444,701	$	(273,856	)

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	)