Investment Securities (Tables)

6 Months Ended

Jun. 30, 2019

Schedule of Investments [Abstract]

Schedule of Securities Available for Sale

Securities Available For Sale:

June 30, 2019	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
U.S. government treasury securities	$	3,966,170	$	55,360	$	0	$	4,021,530
U.S. government agency securities		46,764,074		1,007,002		93,047		47,678,029
State and municipal securities		7,349,504		180,457		1,866		7,528,095
Residential mortgage-backed securities		14,360,334		126,359		1,713		14,484,980
Total debt securities AFS	$	72,440,082	$	1,369,178	$	96,626	$	73,712,634

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

Schedule of Securities Held to Maturity

Securities Held to Maturity:

June 30, 2019	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
State and municipal securities	$	26,893,531	$	492,712	$	11,212	$	27,375,031
Residential mortgage-backed securities		5,652,541		182,407		0		5,834,948
Total securities HTM	$	32,546,072	$	675,119	$	11,212	$	33,209,979

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

Summary of Amortized Cost and Estimated Fair Value of Debt Securities

June 30, 2019
Available for Sale:	Amortized Cost		Estimated Fair Value
Amounts maturing in:
One year or less	$	4,003,638	$	4,001,488
After one through five years		35,076,017		35,858,294
After five through ten years		18,933,752		19,302,368
After ten years		14,426,675		14,550,484
Total debt securities AFS	$	72,440,082	$	73,712,634
Held to Maturity:		Amortized Cost		Estimated Fair Value
Amounts maturing in:
One year or less	$	4,687,048	$	4,698,641
After one through five years		12,284,059		12,493,184
After five through ten years		10,638,493		10,894,566
After ten years		4,936,472		5,123,588
Total securities HTM	$	32,546,072	$	33,209,979

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 securities HTM	$	36,827,073	$	37,010,327

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:

June 30, 2019	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	$	0	$	0
U.S. government agency securities		0		0		93,047		9,207,406
State and municipal securities		0		0		1,866		870,691
Residential mortgage-backed securities		0		0		1,713		116,796
Total debt securities available for sale	$	0	$	0	$	96,626	$	10,194,893
Securities Held to Maturity
Temporarily impaired debt securities:
State and municipal securities	$	0	$	0	$	11,212	$	1,488,615
Residential mortgage-backed securities		0		0		0		0
Total securities held to maturity	$	0	$	0	$	11,212	$	1,488,615

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