Note 12 - Fair Value Measurement and Disclosure (Tables)

3 Months Ended

Mar. 31, 2019

Notes Tables

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

							Total
March 31, 201 9	Level 1		Level 2		Level 3		Fair Value
State and municipal securities available for sale	$	-	$	12,750,987	$	-	$	12,750,987
Residential mortgage-backed securities available for sale		-		11,719,012		-		11,719,012
	$	-	$	24,469,999	$	-	$	24,469,999

							Total
December 31, 2018	Level 1		Level 2		Level 3		Fair Value
State and municipal securities available for sale	$	-	$	13,186,788	$	-	$	13,186,788
Residential mortgage-backed securities available for sale		-		12,346,979		-		12,346,979
	$	-	$	25,533,767	$	-	$	25,533,767

Fair Value Measurements, Nonrecurring [Table Text Block]

							Total
March 31, 201 9	Level 1		Level 2		Level 3		Fair Value
Foreclosed assets	$	-	$	-	$	214,392	$	214,392
Impaired loans, net		-		-		441,981		441,981

							Total
December 31, 201 8	Level 1		Level 2		Level 3		F a ir Value
Foreclosed assets	$	-	$	-	$	78,926	$	78,926
Impaired loans, net		-		-		716,998		716,998

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

	Quantitative Information about Level 3 Fair Value Measurements
	Fair Value		Valuation	Unobservable
	Estimate		Techniques	Input	Range
March 31, 201 9
Foreclosed assets	$	214,392	Appraisal of collateral	Appraisal adjustments	-38%	to	-56%
Impaired loans, net	$	438,883	Appraisal of collateral	Appraisal adjustments	-46%	to	-100.0%
Impaired loans, net	$	3,098	Discounted Future Cash Flows	Payment Stream		N/A
				Discount Rate		10%
December 31, 2018
Foreclosed assets	$	78,926	Appraisal of collateral	Appraisal adjustments	-36%	to	49%
Impaired loans, net	$	662,799	Appraisal of collateral	Appraisal adjustments	-44.0	to	69.0%
Impaired loans, net	$	54,199	Discounted Future Cash Flows	Payment Stream		N/A
				Discount Rate		10%

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

			Fair Value Measurements at
	Carrying		March 31, 2019 using:
	Amount		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and cash equivalents	$	7,302,629	$	7,302,629	$	-	$	-	$	7,302,629
Time deposits		250,000		250,000		-		-		250,000
Federal funds sold		4,409,000		4,409,000		-		-		4,409,000
Securities		24,469,999		-		24,469,999		-		24,469,999
Net loans		235,793,257		-		-		233,769,242		233,769,242
Loans held for sale		250,505		-		250,505		-		250,505
Accrued interest receivable		841,005		841,005		-		-		841,005
Mortgage servicing rights		437,061		-		-		437,061		437,061
Financial Liabilities:
Non-interest bearing deposits		13,747,615		13,747,615		-		-		13,747,615
Interest bearing deposits		207,494,542		-		-		207,890,710		207,890,710
Accrued interest payable		16,146		16,146		-		-		16,146
FHLB advances		10,588,245		-		10,692,350		-		10,692,350

	Carrying		December 31, 2018 using:
	Amount		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and cash equivalents	$	8,430,458	$	8,430,458	$	-	$	-	$	8,430,458
Time deposits		250,000		250,000		-		-		250,000
Federal funds sold		5,663,000		5,663,000		-		-		5,663,000
Securities		25,533,767		-		25,533,767		-		25,533,767
Net loans		235,926,419		-		-		232,996,807		232,996,807
Accrued interest receivable		824,542		824,542		-		-		824,542
Mortgage servicing rights		446,375		-		-		446,375		446,375
Financial Liabilities:
Non-interest bearing deposits		14,057,719		14,057,719		-		-		14,057,719
Interest bearing deposits		209,390,810		-		-		209,576,569		209,576,569
Accrued interest payable		5,648		5,648		-		-		5,648
FHLB advances		12,087,152		-		12,136,836		-		12,136,386