Note 14 - Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2020

Notes Tables

Schedule of Derivative Instruments [Table Text Block]

Derivatives designated as hedging instruments:
									September 30, 2020
Forward Start	Termination	Derivative	Notional		Rate			Rate	Balance Sheet	Estimated Fair Value at:
Inception Date	Date	Type	Amount		Paid			Hedged	Classfication	September 30, 2020			December 31, 2019
2/28/2018	2/28/2025	Interest rate swap - FHLB Advances	$	50,000,000		2.12	%	3 month LIBOR Floating	Other liabilites	$	(4,065,683	)	$	(1,067,935	)
5/23/2019	2/23/2026	Interest rate swap - Subordinated Debentures	$	10,310,000		4.09	%	3 month LIBOR Floating +145 bps	Other liabilites	$	(1,279,986	)	$	(560,388	)

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

Derivative	Income Statement	Three months ended September 30,					Nine months ended September 30,
Type	Classfication	2020		2019			2020		2019
Interest rate swap - FHLB Advances	Interest expense	$	228,899	$	(33,424	)	$	391,277	$	(162,517	)
Interest rate swap - Subordinated Debentures	Interest expense	$	61,211	$	7,268		$	121,242	$	8,569