Note 5 - Loans Held for Investment, Net (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Loans Held for Investment, Net [Table Text Block]

	December 31, 2019						December 31, 2018
	Amount			Percent			Amount			Percent
Loans held for investment, net:
Commercial real estate	$	242,682,721			82.1	%	$	233,102,637			81.3	%
One- to four-family residential real estate residential real estate		28,849,640			9.8			29,855,462			10.4
Commercial and industrial		20,075,236			6.8			17,508,258			6.1
Consumer and other		3,860,991			1.3			6,374,532			2.2
Total gross loans		295,468,588			100.0	%		286,840,889			100.0	%
Unamortized loan fees		(807,869	)					(1,149,517	)
Loans held for investment		294,660,719						285,691,372
Allowance for loan losses		(2,921,931	)					(2,901,091	)
Loans held for investment, net	$	291,738,788					$	282,790,281

Financing Receivable, Allowance for Credit Loss [Table Text Block]

	As of December 31, 2019
	Commercial Real Estate		One- to Four- Family Residential Real Estate		Commercial and Industrial		Other		Total
Allowance for loan losses
Ending balance: individually evaluated for impairment	$	-	$	-	$	-	$	-	$	-
Ending balance: collectively evaluated for impairment		2,588,714		187,345		115,502		30,370		2,921,931
Total	$	2,588,714	$	187,345	$	115,502	$	30,370	$	2,921,931

Gross loans
Ending balance: individually evaluated for impairment	$	2,718,731	$	786,557	$	-	$	-	$	3,505,288
Ending balance: collectively evaluated for impairment		239,963,990		28,063,083		20,075,236		3,860,991		291,963,300
Total	$	242,682,721	$	28,849,640	$	20,075,236	$	3,860,991	$	295,468,588

	As of December 31, 2018
	Commercial Real Estate		One- to Four- Family Residential Real Estate		Commercial and Industrial		Other		Total
Allowance for loan losses
Ending balance: individually evaluated for impairment	$	-	$	-	$	-	$	-	$	-
Ending balance: collectively evaluated for impairment		2,130,124		359,705		377,180		34,082		2,901,091
Total	$	2,130,124	$	359,705	$	377,180	$	34,082	$	2,901,091
Gross loans
Ending balance: individually evaluated for impairment	$	2,993,923	$	649,685	$	-	$	-	$	3,643,608
Ending balance: collectively evaluated for impairment		230,108,714		29,205,777		17,508,258		6,374,532		283,197,281
Total	$	233,102,637	$	29,855,462	$	17,508,258	$	6,374,532	$	286,840,889

	Commercial Real Estate			One- to Four- Family Residential Real Estate			Commercial and Industrial			Consumer and Other			Total
Balance December 31, 2018	$	2,130,124		$	359,705		$	377,180		$	34,082		$	2,901,091
Provision for loan losses		458,590			(169,193	)		(263,185	)		(3,712	)		22,500
Charge-offs		-			(8,686	)		-			-			(8,686	)
Recoveries		-			5,519			1,507			-			7,026
Net (charge-offs) recoveries		-			(3,167	)		1,507			-			(1,660	)
Balance December 31, 2019	$	2,588,714		$	187,345		$	115,502		$	30,370		$	2,921,931
Balance December 31, 2017	$	2,055,911		$	567,290		$	462,406		$	31,583		$	3,117,190
Provision for loan losses		624,213			(183,988	)		(124,724	)		2,499			318,000
Charge-offs		(550,000	)		(36,096	)		(10,322	)		-			(596,418	)
Recoveries		-			12,499			49,820			-			62,319
Net (charge-offs) recoveries		(550,000	)		(23,597	)		39,498			-			(534,099	)
Balance December 31, 2018	$	2,130,124		$	359,705		$	377,180		$	34,082		$	2,901,091

Financing Receivable, Past Due [Table Text Block]

	Past Due										Total
					90 Days						Financing
	30 - 59 Days		60 - 89 Days		or More		Total		Current		Receivables
December 31, 2019
Commercial real estate	$	-	$	-	$	2,718,731	$	2,718,731	$	239,963,990	$	242,682,721
One- to four-family residential real estate		758,197		36,520		638,623		1,433,340		27,416,300		28,849,640
Commercial and industrial		-		-		-		-		20,075,236		20,075,236
Consumer and other		-		-		-		-		3,860,991		3,860,991
Totals	$	758,197	$	36,520	$	3,357,354	$	4,152,071	$	291,316,517	$	295,468,588

	Past Due										Total
					90 Days						Financing
	30 - 59 Days		60 - 89 Days		or More		Total		Current		Receivables
December 31, 2018
Commercial real estate	$	-	$	2,744,405	$	-	$	2,744,405	$	230,358,232	$	233,102,637
One- to four-family residential real estate		782,835		234,524		393,068		1,410,427		28,445,035		29,855,462
Commercial and industrial		-		-		-		-		17,508,258		17,508,258
Consumer and other		-		-		-		-		6,374,532		6,374,532
Totals	$	782,835	$	2,978,929	$	393,068	$	4,154,832	$	282,686,057	$	286,840,889

Financing Receivable, Nonaccrual [Table Text Block]

	December 31,		December 31,
	2019		2018
Nonaccrual loans
Commercial real estate	$	2,718,731	$	2,993,923
One- to four-family residential real estate		786,557		649,685
Commercial and industrial		-		-
Consumer and other		-		-
Total nonaccrual loans		3,505,288		3,643,608
Other real estate (ORE)		-		-
Total nonperforming assets	$	3,505,288	$	3,643,608
Nonperforming assets to gross loans held for investment and ORE	1.19%		1.27%
Nonperforming assets to total assets	0.89%		0.95%

Financing Receivable Credit Quality Indicators [Table Text Block]

	As of December 31, 2019
	Commercial Real Estate		One- to Four- Family Residential Real Estate		Commercial and Industrial		Consumer and Other		Total
Grade
Pass	$	237,546,684	$	26,969,204	$	19,774,797	$	3,860,991	$	288,151,676
Special mention		508,201		375,054		-		-		883,255
Substandard		4,627,836		1,505,382		300,439		-		6,433,657
Doubtful		-		-		-		-		-
Loss		-		-		-		-		-
Totals	$	242,682,721	$	28,849,640	$	20,075,236	$	3,860,991	$	295,468,588

	As of December 31, 2018
	Commercial Real Estate		One- to Four- Family Residential Real Estate		Commercial and Industrial		Consumer and Other		Total
Grade
Pass	$	226,510,803	$	27,990,417	$	17,237,690	$	6,374,532	$	278,113,442
Special mention		1,981,667		268,892		-		-		2,250,559
Substandard		4,610,167		1,596,153		270,568		-		6,476,888
Doubtful		-		-		-		-		-
Loss		-		-		-		-		-
Totals	$	233,102,637	$	29,855,462	$	17,508,258	$	6,374,532	$	286,840,889

Impaired Financing Receivables [Table Text Block]

	As of December 31, 2019
			Principal				Average
	Recorded		Net of		Related		Recorded
	Investment		Charge-offs		Allowance		Investment
With no related allowance recorded:
Commercial real estate	$	2,718,731	$	2,718,731	$	-	$	2,738,545
One- to four-family residential real estate		786,557		786,557		-		791,476
Commercial and industrial		-		-		-		-
Consumer and other		-		-		-		-
	$	3,505,288	$	3,505,288	$	-	$	3,530,021
With an allowance recorded:	$	-	$	-	$	-	$	-
Total:
Commercial real estate	$	2,718,731	$	2,718,731	$	-	$	2,738,545
One- to four-family residential real estate		786,557		786,557		-		791,476
Commercial and industrial		-		-		-		-
Consumer and other		-		-		-		-
	$	3,505,288	$	3,505,288	$	-	$	3,530,021

	As of December 31, 2018
			Principal				Average
	Recorded		Net of		Related		Recorded
	Investment		Charge-offs		Allowance		Investment
With no related allowance recorded:
Commercial real estate	$	2,993,923	$	2,993,923	$	-	$	3,007,495
One- to four-family residential real estate		649,685		649,685		-		656,436
Commercial and industrial		-		-		-		-
Consumer and other		-		-		-		-
	$	3,643,608	$	3,643,608	$	-	$	3,663,931
With an allowance recorded:	$	-	$	-	$	-	$	-
Total:
Commercial real estate	$	2,993,923	$	2,993,923	$	-	$	3,007,495
One- to four-family residential real estate		649,685		649,685		-		656,436
Commercial and industrial		-		-		-		-
Consumer and other		-		-		-		-
	$	3,643,608	$	3,643,608	$	-	$	3,663,931