Note 16 - Fair Values of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

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

	Carrying		December 31, 2019 using:
	Amount		Level 1		Level 2		Level 3		Total
Financial Assets:
Cash and cash equivalents	$	6,038,411	$	6,038,411	$	-	$	-	$	6,038,411
Time deposits		1,483,500		1,483,500		-		-		1,483,500
Federal funds sold		4,185,000		4,185,000		-		-		4,185,000
Securities		24,515,759		-		24,515,759		-		24,515,759
Net loans		247,775,814		-		-		248,373,122		248,373,122
Loans held for sale		1,225,526		-		1,225,526		-		1,225,526
Accrued interest receivable		875,104		875,104		-		-		875,104
Mortgage servicing rights		534,646		-		-		534,646		534,646
Financial Liabilities:
Non-interest bearing deposits		13,664,986		13,664,986		-		-		13,664,986
Interest bearing deposits		222,648,518		-		-		226,125,337		226,125,337
Accrued interest payable		8,146		8,146		-		-		8,146
FHLB advances		9,068,030		-		9,158,597		-		9,158,597

	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		26,302,888		-		26,302,888		-		26,302,888
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		-		12,136,386		-		12,136,386