Consolidated Balance Sheets - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Assets
Cash and due from banks	$ 5,272,925	$ 2,416,568
Interest bearing deposits	765,486	6,013,890
Total cash and cash equivalents	6,038,411	8,430,458
Time deposits	1,483,500	250,000
Federal funds sold	4,185,000	5,663,000
Securities available for sale	24,515,759	25,533,767
Loans, net of allowance for loan losses of $2,937,632 and $2,627,738 at December 31, 2019 and 2018, respectively	247,775,814	235,926,419
Loans held for sale	1,225,526
Premises and equipment, net	6,517,922	6,621,080
Accrued interest receivable	875,104	824,542
Deferred tax assets	1,743,161	1,898,141
Cash surrender value of life insurance	2,389,530	2,341,453
Goodwill	649,869	649,869
Core deposit intangible	169,999	228,000
Other assets	2,962,101	4,469,350
Total assets	300,531,696	292,836,079
Liabilities
Non-interest bearing	13,664,986	14,057,719
Interest bearing	222,648,518	209,390,810
Total deposits	236,313,504	223,448,529
Accrued interest payable	8,146	5,648
FHLB advances	9,068,030	12,087,152
Other liabilities	4,431,141	4,470,384
Total liabilities	249,820,821	240,011,713
Commitments and contingencies (Note 14)
Stockholders' equity
Common stock, $0.01 par value, 12,000,000 shares authorized; 3,159,494 and 3,358,922 shares issued at December 31, 2019 and 2018, respectively	31,594	33,589
Additional paid-in-capital	32,845,639	35,579,606
Retained earnings	18,938,633	18,859,232
Unallocated ESOP shares	(1,398,600)	(1,576,616)
Unearned management recognition plan shares	(30,944)	(40,361)
Accumulated other comprehensive income (loss)	324,553	(31,084)
Total stockholders' equity	50,710,875	52,824,366
Total liabilities and stockholders' equity	$ 300,531,696	$ 292,836,079