Note 14 - Fair Value (Tables)

12 Months Ended

Dec. 31, 2018

Notes Tables

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

	Carrying Value:
	Level 1		Level 2		Level 3		Total
December 31, 2018
Recurring
Available for sale securities
State and municipal	$	-	$	1,506,505	$	-	$	1,506,505
SBA pools		-		2,719,372		-		2,719,372
Mortgage-backed securities		-		22,366,114		-		22,366,114
	$	-	$	26,591,991	$	-	$	26,591,991
Equity security at fair value	$	503,827	$	-	$	-	$	503,827
Nonrecurring
Other real estate owned	$	-	$	-	$	210,150	$	210,150
Impaired loans		-		-		3,177,381		3,177,381
December 31, 2017
Recurring
Available for sale securities
State and municipal	$	-	$	1,539,207	$	-	$	1,539,207
SBA pools		-		3,199,846		-		3,199,846
Mortgage-backed securities		-		23,190,457		-		23,190,457
	$	-	$	27,929,510	$	-	$	27,929,510
Equity security at fair value	$	503,881	$	-	$	-	$	503,881
Nonrecurring
Other real estate owned	$	-	$	-	$	265,500	$	265,500
Impaired loans		-		-		5,055,969		5,055,969

Fair Value, Assets Measured on Non-recurring Basis, Unobservable Input Reconciliation [Table Text Block]

Reconciliation of Level 3 Inputs
	Other Real			Impaired
	Estate Owned			Loans
December 31, 2017 fair value	$	265,500		$	5,055,969
Additions		-			1,747,826
Advances		-			19,086
Write-downs/charge-offs		(55,350	)		(690,000	)
Recoveries		-			197,660
Loan loss provision		-			127,213
Principal payments received		-			(3,280,373	)
December 31, 2018 fair value	$	210,150		$	3,177,381

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

	December 31, 2018				December 31, 2017
	Carrying		Estimated		Carrying		Estimated
	Amount		Fair Value		Amount		Fair Value
Financial assets
Level 2 inputs
Securities held to maturity		18,127,067		18,033,093		18,204,182		18,307,627
Mortgage loans held for sale		573,638		582,248		327,700		332,558
Federal Home Loan Bank stock		575,800		575,800		1,063,600		1,063,600
Level 3 inputs
Loans, net		340,900,635		337,385,842		332,533,706		332,689,848
Financial liabilities
Level 1 inputs
Noninterest-bearing deposits	$	62,717,520	$	62,717,520	$	64,403,133	$	64,403,133
Securities sold under repurchase agreements		11,012,000		11,012,000		21,768,507		21,768,507
Level 2 inputs
Interest-bearing deposits		291,995,483		281,761,483		255,393,291		244,403,291
Federal Home Loan Bank advances		3,000,000		2,971,000		17,000,000		16,957,000