Note 4 - Loans Held for Investment, Net (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

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

	June 30, 2020						December 31, 2019
	Amount			Percent			Amount			Percent
Loans held for investment, net:
Commercial real estate	$	257,876,733			73.1	%	$	242,682,721			82.1	%
One- to four-family residential real estate		24,354,087			6.9			28,849,640			9.8
Commercial and industrial		66,761,757			18.9			20,075,236			6.8
Consumer and other		3,726,966			1.1			3,860,991			1.3
Total gross loans		352,719,543			100.0	%		295,468,588			100.0	%
Unamortized loan fees, net of costs		(1,372,094	)					(807,869	)
Loans held for investment		351,347,449						294,660,719
Allowance for loan losses		(3,975,620	)					(2,921,931	)
Loans held for investment, net	$	347,371,829					$	291,738,788

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

	As of June 30, 2020
	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		3,371,097		250,674		307,805		46,044		3,975,620
Total	$	3,371,097	$	250,674	$	307,805	$	46,044	$	3,975,620
Gross loans
Ending balance: individually evaluated for impairment	$	2,578,003	$	823,445	$	-	$	-	$	3,401,448
Ending balance: collectively evaluated for impairment		255,298,730		23,530,642		66,761,757		3,726,966		349,318,095
Total	$	257,876,733	$	24,354,087	$	66,761,757	$	3,726,966	$	352,719,543

	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

	Commercial Real Estate		One- to Four-Family Residential Real Estate		Commercial and Industrial		Consumer and Other		Total
Balance December 31, 2019	$	2,588,714	$	187,345	$	115,502	$	30,370	$	2,921,931
Provision for loan losses		267,392		49,372		147,981		7,255		472,000
Charge-offs		-		-		-		-		-
Recoveries		-		2,930		-		-		2,930
Net (charge-offs) recoveries		-		2,930		-		-		2,930
Balance March 31, 2020	$	2,856,106	$	239,647	$	263,483	$	37,625	$	3,396,861
Provision for loan losses		514,991		9,268		44,322		8,419		577,000
Change-offs		-		-		-		-		-
Recoveries		-		1,759		-		-		1,759
Net (charge-offs) recoveries		-		1,759		-		-		1,759
Balance June 30, 2020	$	3,371,097	$	250,674	$	307,805	$	46,044	$	3,975,620

	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		211,173		(130,880	)		9,738		(2,531	)		87,500
Charge-offs		-		(8,686	)		-		-			(8,686	)
Recoveries		-		-			1,507		-			1,507
Net (charge-offs) recoveries		-		(8,686	)		1,507		-			(7,179	)
Balance March 31, 2019	$	2,341,297	$	220,139		$	388,425	$	31,551		$	2,981,412
Provision for loan losses		85,605		(2,388	)		9,914		(8,131	)		85,000
Change-offs		-		-			-		-			-
Recoveries		-		1,879			-		-			1,879
Net (charge-offs) recoveries		-		1,879			-		-			1,879
Balance June 30, 2019	$	2,426,902	$	219,630		$	398,339	$	23,420		$	3,068,291

Financing Receivable, Past Due [Table Text Block]

	Past Due										Total
					90 Days						Financing
	30 - 59 Days		60 - 89 Days		or More		Total		Current		Receivables
June 30, 2020
Commercial real estate	$	-	$	-	$	-	$	-	$	257,876,733	$	257,876,733
One- to four-family residential real estate		-		395,110		290,018		685,128		23,668,959		24,354,087
Commercial and industrial		-		-		-		-		66,761,757		66,761,757
Consumer and other		-		-		-		-		3,726,966		3,726,966
Totals	$	-	$	395,110	$	290,018	$	685,128	$	352,034,415	$	352,719,543

	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

Financing Receivable, Nonaccrual [Table Text Block]

	June 30,			December 31,
	2020			2019
Nonaccrual loans
Commercial real estate	$	2,578,003		$	2,718,731
One- to four-family residential real estate		754,037			786,557
Commercial and industrial		-			-
Consumer and other		-			-
Total nonaccrual loans		3,332,040			3,505,288
Other real estate (ORE)		-			-
Total nonperforming assets	$	3,332,040		$	3,505,288
Nonperforming assets to gross loans held for investment and ORE		0.94	%		1.19	%
Nonperforming assets to total assets		0.73	%		0.89	%

Financing Receivable Credit Quality Indicators [Table Text Block]

	As of June 30, 2020
	Commercial Real Estate		One- to Four- Family Residential Real Estate		Commercial and Industrial		Consumer and Other		Total
Grade
Pass	$	253,050,106	$	22,606,006	$	66,528,216	$	3,726,966	$	345,911,294
Special mention		459,260		288,279		-		-		747,539
Substandard		4,367,367		1,459,802		233,541		-		6,060,710
Doubtful		-		-		-		-		-
Loss		-		-		-		-		-
Totals	$	257,876,733	$	24,354,087	$	66,761,757	$	3,726,966	$	352,719,543

	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

Impaired Financing Receivables [Table Text Block]

	As of June 30, 2020
			Principal				Average
	Recorded		Net of		Related		Recorded
	Investment		Charge-offs		Allowance		Investment
With no related allowance recorded:
Commercial real estate	$	2,578,003	$	2,578,003	$	-	$	2,620,918
One- to four-family residential real estate		823,445		823,445		-		829,053
Commercial and industrial		-		-		-		-
Consumer and other		-		-		-		-
	$	3,401,448	$	3,401,448	$	-	$	3,449,971
With an allowance recorded:	$	-	$	-	$	-	$	-
Total:
Commercial real estate	$	2,578,003	$	2,578,003	$	-	$	2,620,918
One- to four-family residential real estate		823,445		823,445		-		829,053
Commercial and industrial		-		-		-		-
Consumer and other		-		-		-		-
	$	3,401,448	$	3,401,448	$	-	$	3,449,971

	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