Note 8 - Fair Values of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Notes Tables

Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block]

	Fair Value Measurements Using
	Quoted Prices		Significant
	in Active		Other		Significant
	Markets for		Observable		Unobservable
	Identical Assets		Inputs		Inputs
	Level 1		Level 2		Level 3		Fair Value
March 31, 2020:
Recurring basis
Mortgage-backed securities	$	-	$	34,524,563	$	-	$	34,524,563
U.S. Government agencies		-		953,122		-		953,122
Municipal obligations		-		25,897,115		-		25,897,115
Nonrecurring basis
Impaired loans		-		-		3,409,628		3,409,628
Totals	$	-	$	61,374,800	$	3,409,628	$	64,784,428
December 31, 2019:
Recurring basis
Mortgage-backed securities	$	-	$	31,018,748	$	-	$	31,018,748
U.S. Government agencies		-		1,079,447		-		1,079,447
Municipal obligations		-		12,418,983		-		12,418,983
Nonrecurring basis
Impaired loans		-		-		3,505,288		3,505,288
Totals	$	-	$	44,517,178	$	3,505,288	$	48,022,466

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

	Fair Value		Valuation Methodologies	Valuation Model	Unobservable Input Valuation
At March 31, 2020
Impaired loans
Commercial real estate	$	2,642,676	Appraisal	Appraisal discount and estimated selling costs	17	-	18%
One- to four-family residential real estate		766,952	Appraisal	Appraisal discount and estimated selling costs	17	-	18%
Total Impaired Loans	$	3,409,628
At December 31, 2019
Impaired loans
Commercial real estate	$	2,718,731	Appraisal	Appraisal discount and estimated selling costs	17	-	18%
One- to four-family residential real estate		786,557	Appraisal	Appraisal discount and estimated selling costs	17	-	18%
Total Impaired Loans	$	3,505,288

Fair Value, by Balance Sheet Grouping [Table Text Block]

					Quoted Prices		Significant
					in Active		Other		Significant
					Markets for		Observable		Unobservable
	Carrying				Identical Assets		Inputs		Inputs
	Amount		Fair Value		Level 1		Level 2		Level 3
	(Dollars in thousands)
At March 31, 2020:
Financial assets:
Cash and due from banks	$	5,159	$	5,159	$	5,159	$	-	$	-
Interest-bearing deposits with banks		3,260		3,260		3,260		-		-
Available-for-sale securities		61,375		61,375		-		61,375		-
Loans held for investment, net		309,443		308,210		-		-		308,210
Stock in financial institutions		4,037		4,037		-		4,037		-
Financial liabilities:
Demand deposits, savings and NOW deposits		229,134		228,963		228,963		-		-
Time deposits		76,985		77,588		-		77,588		-
Federal Home Loan Bank advances		50,000		50,244		-		50,244		-
At December 31, 2019
Financial assets:
Cash and due from banks	$	4,496	$	4,496	$	4,496	$	-	$	-
Interest-bearing deposits with banks		24,990		24,990		24,990		-		-
Available-for-sale securities		44,517		44,517		-		44,517		-
Loans held for investment, net		291,739		292,246		-		-		292,246
Stock in financial institutions		4,017		4,017		-		4,017		-
Financial liabilities:
Demand deposits, savings and NOW deposits		222,509		214,611		214,611		-		-
Time deposits		81,388		81,638		-		81,638		-
Federal Home Loan Bank advances		40,000		40,075		-		40,075		-