Investment Securities (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Investments [Abstract]

Schedule of Securities Available for Sale

Securities Available For Sale:

December 31, 2018	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
U.S. government treasury securities	$	982,044	$	0	$	27,474	$	954,570
U.S. government agency securities		45,823,595		264,567		881,157		45,207,005
State and municipal securities		7,394,278		30,579		46,922		7,377,935
Residential mortgage-backed securities		4,769,668		21,579		17,180		4,774,067
Total debt securities AFS	$	58,969,585	$	316,725	$	972,733	$	58,313,577

December 31, 2017	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
U.S. government treasury securities	$	979,983	$	0	$	12,213	$	967,770
U.S. government agency securities		43,978,023		580,366		698,299		43,860,090
State and municipal securities		7,482,912		129,231		38,454		7,573,689
Residential mortgage-backed securities		1,812,905		51,651		2,844		1,861,712
Total debt securities AFS	$	54,253,823	$	761,248	$	751,810	$	54,263,261

Schedule of Securities Held to Maturity

Securities Held to Maturity:

December 31, 2018	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
State and municipal securities	$	30,582,785	$	208,480	$	67,434	$	30,723,831
Residential mortgage-backed securities		6,244,288		49,490		7,282		6,286,496
Total securities HTM	$	36,827,073	$	257,970	$	74,716	$	37,010,327

December 31, 2017	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
State and municipal securities	$	41,447,092	$	527,632	$	48,083	$	41,926,641
Residential mortgage-backed securities		3,143,749		77,542		132		3,221,159
Total securities HTM	$	44,590,841	$	605,174	$	48,215	$	45,147,800

Summary of Amortized Cost and Estimated Fair Value of Debt Securities

December 31, 2018
Available for Sale:	Amortized Cost		Estimated Fair Value
Amounts maturing in:
One year or less	$	2,147,059	$	2,124,645
After one through five years		29,691,474		29,674,236
After five through ten years		21,585,776		20,968,318
After ten years		5,545,276		5,546,378
Total debt securities AFS	$	58,969,585	$	58,313,577
Held to Maturity:		Amortized Cost		Estimated Fair Value
Amounts maturing in:
One year or less	$	6,483,464	$	6,497,910
After one through five years		12,885,021		12,961,209
After five through ten years		11,035,146		11,097,382
After ten years		6,423,442		6,453,826
Total debt securities HTM	$	36,827,073	$	37,010,327

Schedule of Activity of Security Sales by Intention

Securities Available For Sale:

December 31,	2018			2017		2016
Proceeds of sales	$	2,879,000		$	5,741,211	$	11,933,634
Gross gains	$	0		$	186,610	$	152,102
Gross losses		(165,369	)		0		(8,068	)
Net gains (losses) on sales of  available for sale securities	$	(165,369	)	$	186,610	$	144,034

Securities Held to Maturity:

December 31,	2018		2017		2016
Amortized cost of securities sold	$	0	$	0	$	551,949
Proceeds from sales		0		0		576,834
Net gains on sales of  held to maturity securities	$	0	$	0	$	24,885

Schedule of Information Pertaining to Securities Gross Unrealized Losses by Investments

Information pertaining to securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in continuous loss position, follows:

December 31, 2018	Less Than Twelve Months				Twelve Months or More
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
Securities Available for Sale
Temporarily impaired debt securities:
U.S. government treasury securities	$	0	$	0	$	27,474	$	954,570
U.S. government agency securities		33,077		6,073,337		848,080		20,015,052
State and municipal securities		3,209		306,792		43,713		1,813,173
Residential mortgage-backed securities		14,199		3,032,237		2,981		129,410
Total debt securities available for sale	$	50,485	$	9,412,366	$	922,248	$	22,912,205
Securities Held to Maturity
Temporarily impaired debt securities:
State and municipal securities	$	20,209	$	7,359,536	$	47,225	$	2,782,627
Residential mortgage-backed securities		5,671		879,487		1,611		89,464
Total securities held to maturity	$	25,880	$	8,239,023	$	48,836	$	2,872,091

December 31, 2017	Less Than Twelve Months				Twelve Months or More
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
Securities Available for Sale
Temporarily impaired debt securities:
U.S. government treasury securities	$	12,213	$	967,770	$	0	$	0
U.S. government agency securities		34,083		4,988,630		664,216		18,347,439
State and municipal securities		16,836		975,900		21,618		877,798
Residential mortgage-backed securities		0		0		2,844		188,081
Total debt securities available for sale	$	63,132	$	6,932,300	$	688,678	$	19,413,318
Securities Held to Maturity
Temporarily impaired debt securities:
State and municipal securities	$	15,954	$	5,521,443	$	32,129	$	1,281,797
Residential mortgage-backed securities		132		146,203		0		0
Total securities held to maturity	$	16,086	$	5,667,646	$	32,129	$	1,281,797