Note 3 - Investment Securities (Tables)

3 Months Ended

Mar. 31, 2019

Notes Tables

Marketable Securities [Table Text Block]

	Amortized		Unrealized		Unrealized		Fair
March 31, 2019	cost		gains		losses		value
Available for sale
State and municipal	$	1,130,283	$	8,235	$	5,228	$	1,133,290
SBA pools		2,658,758		-		54,648		2,604,110
Mortgage-backed securities		27,184,473		102,422		422,524		26,864,371
	$	30,973,514	$	110,657	$	482,400	$	30,601,771
Held to maturity
State and municipal	$	18,065,993	$	220,230	$	50,038	$	18,236,185

	Amortized		Unrealized		Unrealized		Fair
December 31, 2018	cost		gains		losses		value
Available for sale
State and municipal	$	1,506,011	$	11,161	$	10,667	$	1,506,505
SBA pools		2,779,411		-		60,039		2,719,372
Mortgage-backed securities		23,090,618		33,594		758,098		22,366,114
	$	27,376,040	$	44,755	$	828,804	$	26,591,991
Held to maturity
State and municipal	$	18,127,067	$	115,220	$	209,194	$	18,033,093

Investments Classified by Contractual Maturity Date [Table Text Block]

	Available for Sale				Held to Maturity
	Amortized		Fair		Amortized		Fair
March 31, 2019	cost		value		cost		value
Within one year	$	-	$	-	$	804,270	$	805,908
Over one to five years		259,981		254,753		589,690		597,571
Over five to ten years		870,302		878,537		1,859,628		1,900,827
Over ten years		-		-		14,812,405		14,931,879
		1,130,283		1,133,290		18,065,993		18,236,185
Mortgage-backed securities and SBA pools, due in monthly installments		29,843,231		29,468,481		-		-
	$	30,973,514	$	30,601,771	$	18,065,993	$	18,236,185
December 31, 2018
Within one year	$	375,000	$	375,653	$	1,009,284	$	1,011,165
Over one to five years		260,587		249,920		590,522		598,528
Over five to ten years		870,424		880,932		1,858,695		1,876,364
Over ten years		-		-		14,668,566		14,547,036
		1,506,011		1,506,505		18,127,067		18,033,093
Mortgage-backed securities and SBA pools, due in monthly installments		25,870,029		25,085,486		-		-
	$	27,376,040	$	26,591,991	$	18,127,067	$	18,033,093

Schedule of Unrealized Loss on Investments [Table Text Block]

March 31, 2019	Less than 12 months				12 months or more				Total
Description of investments	Fair Value		Unrealized Loss		Fair Value		Unrealized Loss		Fair Value		Unrealized Loss
State and municipal	$	-	$	-	$	3,092,607	$	55,266	$	3,092,607	$	55,266
SBA pools		-		-		2,604,110		54,648		2,604,110		54,648
Mortgage-backed securities		-		-		17,414,593		422,524		17,414,593		422,524
Total	$	-	$	-	$	23,111,310	$	532,438	$	23,111,310	$	532,438

December 31, 2018	Less than 12 months				12 months or more				Total
			Unrealized				Unrealized				Unrealized
Description of investments	Fair value		losses		Fair value		losses		Fair value		losses
State and municipal	$	3,435,052	$	42,080	$	3,740,467	$	177,781	$	7,175,519	$	219,861
SBA pools		443,288		6,707		2,276,084		53,332		2,719,372		60,039
Mortgage-backed securities		596,002		6,631		17,770,790		751,467		18,366,792		758,098
Total	$	4,474,342	$	55,418	$	23,787,341	$	982,580	$	28,261,683	$	1,037,998