Note 5 - Loans (Tables)

12 Months Ended

Dec. 31, 2019

Notes Tables

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

	2019		2018
Real estate:
Commercial	$	240,938,149	$	238,834,149
Construction and land development		18,194,955		18,265,505
Residential		76,122,069		63,024,106
Commercial		26,947,503		23,323,073
Consumer		292,027		494,009
		362,494,703		343,940,842
Less: Allowance for loan losses		2,593,715		2,509,334
Deferred origination fees net of costs		518,145		530,873
	$	359,382,843	$	340,900,635

Maturity and Rate Repricing Distribution of the Loans and Leases Receivable [Table Text Block]

	2019		2018
Variable rate, immediately	$	80,832,310	$	65,523,966
Due within one year		42,583,270		42,060,188
Due over one to five years		155,924,323		153,190,636
Due over five years		83,154,800		83,166,052
	$	362,494,703	$	343,940,842

Financing Receivable, Nonaccrual [Table Text Block]

	2019		2018
Commercial real estate	$	-	$	988,811

Financing Receivable, Past Due [Table Text Block]

					90 Days								Past Due 90
	30 - 59 Days		60 - 89 Days		or More		Total				Total		Days or More
	Past Due		Past Due		Past Due		Past Due		Current		Loans		and Accruing
December 31, 2019
Real estate:
Commercial	$	224,794	$	-	$	-	$	224,794	$	240,713,355	$	240,938,149	$	-
Construction and land development		-		-		-		-		18,194,955		18,194,955		-
Residential		59,892		-		-		59,892		76,062,177		76,122,069		-
Commercial		-		-		-		-		26,947,503		26,947,503		-
Consumer		-		-		-		-		292,027		292,027		-
Total	$	284,686	$	-	$	-	$	284,686	$	362,210,017	$	362,494,703	$	-
December 31, 2018
Real estate:
Commercial	$	-	$	-	$	988,811	$	988,811	$	237,845,338	$	238,834,149	$	-
Construction and land development		-		-		-		-		18,265,505		18,265,505		-
Residential		-		-		10,507		10,507		63,013,599		63,024,106		10,507
Commercial		-		25,000		-		25,000		23,298,073		23,323,073		-
Consumer		-		-		-		-		494,009		494,009		-
Total	$	-	$	25,000	$	999,318	$	1,024,318	$	342,916,524	$	343,940,842	$	10,507

Impaired Financing Receivables [Table Text Block]

	Unpaid		Recorded		Recorded
	Contractual		Investment		Investment		Total				Average
	Principal		With No		With		Recorded		Related		Recorded		Interest
	Balance		Allowance		Allowance		Investment		Allowance		Investment		Recognized
December 31, 2019
Commercial real estate	$	2,084,988	$	2,084,988	$	-	$	2,084,988	$	-	$	2,631,185	$	106,874
Residential real estate		50,057		50,057		-		50,057		-		25,029		2,876
	$	2,135,045	$	2,135,045	$	-	$	2,135,045	$	-	$	2,656,213	$	109,750
December 31, 2018
Commercial real estate	$	3,867,381	$	3,177,381	$	-	$	3,177,381	$	-	$	3,177,381	$	120,193

Financing Receivable Credit Quality Indicators [Table Text Block]

			Above						Pass		Special
December 31, 2019	Excellent		average		Average		Acceptable		watch		mention		Substandard		Doubtful		Total
Real estate:
Commercial	$	-	$	2,769,944	$	91,274,940	$	110,566,629	$	27,438,005	$	-	$	8,888,631	$	-	$	240,938,149
Construction and land development		-		216,000		4,737,737		8,572,151		4,669,067		-		-		-		18,194,955
Residential		39,817		1,633,783		30,767,418		34,784,120		6,386,377		-		2,510,554		-		76,122,069
Commercial		153,848		20,000		11,682,299		11,995,143		3,096,213		-		-		-		26,947,503
Consumer		2,327		99,385		91,620		60,049		19,214		-		240		19,192		292,027
	$	195,992	$	4,739,112	$	138,554,014	$	165,978,092	$	41,608,876	$	-	$	11,399,425	$	19,192	$	362,494,703

			Above						Pass		Special
December 31, 2018	Excellent		average		Average		Acceptable		watch		mention		Substandard		Doubtful		Total
Real estate:
Commercial	$	-	$	3,632,231	$	101,633,803	$	104,454,812	$	20,356,642	$	-	$	8,756,661	$	-	$	238,834,149
Construction and land development		-		-		8,190,212		7,871,642		2,203,651		-		-		-		18,265,505
Residential		35,926		1,178,899		26,856,131		30,169,305		2,093,825		-		2,690,020		-		63,024,106
Commercial		977,054		24,180		12,373,503		7,130,122		2,818,214		-		-		-		23,323,073
Consumer		3,668		80,670		266,704		63,160		-		-		1,340		78,467		494,009
	$	1,016,648	$	4,915,980	$	149,320,353	$	149,689,041	$	27,472,332	$	-	$	11,448,021	$	78,467	$	343,940,842

Financing Receivable, Allowance for Credit Loss [Table Text Block]

												Allowance for loan losses				Outstanding loan
			Provision									ending balance evaluated				balances evaluated
	Beginning		for loan			Charge				Ending		for impairment:				for impairment:
December 31, 2019	balance		losses			offs		Recoveries		balance		Individually		Collectively		Individually		Collectively
Real estate:
Commercial	$	1,754,372	$	(11,700	)	$	-	$	21,189	$	1,763,861	$	-	$	1,763,861	$	2,084,988	$	238,853,161
Construction and land development		196,374		(17,571	)		-		14,025		192,828		-		192,828		-		18,194,955
Residential		401,626		76,498			-		-		478,124		-		478,124		50,057		76,072,012
Commercial		102,610		(3,995	)		-		9,167		107,782		-		107,782		-		26,947,503
Consumer		10,428		(6,295	)		-		-		4,133		-		4,133		-		292,027
Unallocated		43,924		3,063			-		-		46,987		-		46,987		-		-
	$	2,509,334	$	40,000		$	-	$	44,381	$	2,593,715	$	-	$	2,593,715	$	2,135,045	$	360,359,658

													Allowance for loan losses				Outstanding loan
			Provision										ending balance evaluated				balances evaluated
	Beginning		for loan			Charge					Ending		for impairment:				for impairment:
December 31, 2018	balance		losses			offs			Recoveries		balance		Individually		Collectively		Individually		Collectively
Real estate:
Commercial	$	1,867,397	$	372,315		$	(690,000	)	$	204,660	$	1,754,372	$	-	$	1,754,372	$	3,177,381	$	235,656,768
Construction and land development		223,274		(78,496	)		(12,115	)		63,711		196,374		-		196,374		-		18,265,505
Residential		247,953		153,673			-			-		401,626		-		401,626		-		63,024,106
Commercial		87,353		6,090			-			9,167		102,610		-		102,610		-		23,323,073
Consumer		7,027		3,401			-			-		10,428		-		10,428		-		494,009
Unallocated		25,907		18,017			-			-		43,924		-		43,924		-		-
	$	2,458,911	$	475,000		$	(702,115	)	$	277,538	$	2,509,334	$	-	$	2,509,334	$	3,177,381	$	340,763,461