Note 3 - Available-for-sale Securities (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

Schedule of Available-for-sale Securities Reconciliation [Table Text Block]

	Gross		Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses			Fair Value
June 30, 2020
Available-for-sale securities
Mortgage-backed securities	$	30,847,669	$	1,042,749	$	(1,391	)	$	31,889,027
U.S. Government agencies		919,509		6,596		(1,819	)		924,286
Municipal obligations		29,816,091		938,877		-			30,754,968
Total	$	61,583,269	$	1,988,222	$	(3,210	)	$	63,568,281
December 31, 2019
Available-for-sale securities
Mortgage-backed securities	$	30,722,958	$	415,564	$	(119,774	)	$	31,018,748
U.S. Government agencies		1,102,532		1,739		(24,824	)		1,079,447
Municipal obligations		12,279,341		254,521		(114,879	)		12,418,983
Total	$	44,104,831	$	671,824	$	(259,477	)	$	44,517,178

Schedule of Realized Gain (Loss) [Table Text Block]

	Six Months Ended June 30,
	2020			2019
Proceeds from sale	$	1,854,871		$	-
Sales gains	$	15,013		$	-
Sales losses	$	(4,856	)	$	-

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

	June 30, 2020				December 31, 2019
	Amortized		Fair		Amortized		Fair
	Cost		Value		Cost		Value
Due in one year or less	$	11,294,706	$	11,341,059	$	-	$	-
Due after one to five years		27,764,508		28,807,095		27,151,751		27,510,536
Due after five to ten years		17,420,852		18,162,759		14,048,273		14,163,270
Due after ten years		5,103,203		5,257,368		2,904,807		2,843,372
Totals	$	61,583,269	$	63,568,281	$	44,104,831	$	44,517,178

Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value [Table Text Block]

	June 30, 2020
	Less Than 12 Months					12 Months or More					Total
			Gross					Gross					Gross
Description of			Unrealized					Unrealized					Unrealized
Securities	Fair Value		Losses			Fair Value		Losses			Fair Value		Losses
Available-for-sale securities:
Mortgage-backed securities	$	639,465	$	(1,391	)	$	-	$	-		$	639,465	$	(1,391	)
U.S. Government agencies		-		-			715,953		(1,819	)		715,953		(1,819	)
Total temporarily impaired securities	$	639,465	$	(1,391	)	$	715,953	$	(1,819	)	$	1,355,418	$	(3,210	)

	December 31, 2019
	Less Than 12 Months					12 Months or More					Total
			Gross					Gross					Gross
Description of			Unrealized					Unrealized					Unrealized
Securities	Fair Value		Losses			Fair Value		Losses			Fair Value		Losses
Available-for-sale securities:
Mortgage-backed securities	$	10,201,840	$	(64,195	)	$	6,459,069	$	(55,579	)	$	16,660,909	$	(119,774	)
U.S. Government agencies		-		-			843,719		(24,824	)		843,719		(24,824	)
Municipal obligations		4,676,851		(114,879	)		-		-			4,676,851		(114,879	)
Total temporarily impaired securities	$	14,878,691	$	(179,074	)	$	7,302,788	$	(80,403	)	$	22,181,479	$	(259,477	)