Note 12 - Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2021

Notes Tables

Schedule of Derivative Instruments [Table Text Block]

Derivatives designated as hedging instruments:
									June 30, 2021
Forward Start	Termination	Derivative	Notional		Rate			Rate	Balance Sheet	Estimated Fair Value at:
Inception Date	Date	Type	Amount		Paid			Hedged	Classfication	June 30, 2021			December 31, 2020
2/28/2018	2/28/2025	Interest rate swap - FHLB Advances	$	50,000,000		2.12	%	3 month LIBOR Floating	Other liabilites	$	(2,616,439	)	$	(3,760,287	)
5/23/2019	2/23/2026	Interest rate swap - Subordinated Debentures	$	10,310,000		4.09	%	3 month LIBOR Floating +145 bps	Other liabilites	$	(846,961	)	$	(1,180,909	)

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

Derivative	Income Statement	Three months ended June 30,				Six months ended June 30,
Type	Classfication	2021		2020		2021		2020
Interest rate swap - FHLB Advances	Interest expense	$	246,488	$	122,537	$	484,899	$	162,378
Interest rate swap - Subordinated Debentures	Interest expense	$	64,508	$	38,590	$	127,470	$	60,031