Note 7 - Income Taxes (Tables)

6 Months Ended

Jun. 30, 2024

Notes Tables

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	For the Three-Months Ended
	June 30,
	2024			2023
Provision for income taxes at the statutory federal tax rates	$	(190,999	)	$	156,026
Increase (reduction) in taxes resulting from:
Tax-exempt interest income		(7,906	)		(8,794	)
Dividends received deduction		(9,189	)		(20,275	)
Proration of tax-exempt interest and dividends received deduction		4,050			7,053
Nondeductible expenses		34,430			19,952
Officer life insurance, net		(3,130	)		2,532
Other		(4,900	)		—
Total	$	(177,644	)	$	156,494

	For the Six-Months Ended
	June 30,
	2024			2023
Provision for income taxes at the statutory federal tax rates	$	404,436		$	572,680
Increase (reduction) in taxes resulting from:
Tax-exempt interest income		(15,835	)		(18,866	)
Dividends received deduction		(19,254	)		(40,735	)
Proration of tax-exempt interest and dividends received deduction		8,333			14,470
Nondeductible expenses		50,345			35,043
Officer life insurance, net		(4,568	)		(578	)
Other		(4,900	)		—
Total	$	418,557		$	562,014