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Short-Term Borrowed Funds (Tables)
12 Months Ended
Dec. 31, 2017
Debt Disclosure [Abstract]  
Summary of FHLB and Federal Funds Purchased

Information concerning federal funds purchased and FHLB short-term advances are summarized as follows:

 

    2017   2016
         
Average balance during the year   $ 12,238,066     $ 8,119,161  
Average interest rate during the year     1.83 %     1.28 %
                 
Maximum month-end balance during the year   $ 22,114,286     $ 10,590,476