Investment Securities (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Investments [Abstract]

Schedule of Securities Available for Sale

Securities Available For Sale:

December 31, 2019	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
U.S. government treasury securities	$	3,972,502	$	54,688	$	0	$	4,027,190
U.S. government agency securities		37,508,686		1,014,199		24,759		38,498,126
State and municipal securities		4,352,782		181,538		0		4,534,320
Residential mortgage-backed securities		20,553,780		226,155		13,708		20,766,227
Total debt securities AFS	$	66,387,750	$	1,476,580	$	38,467	$	67,825,863

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:

December 31, 2019	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
State and municipal securities	$	20,443,004	$	460,952	$	3,425	$	20,900,531
Residential mortgage-backed securities		5,043,957		173,092		0		5,217,049
Total securities HTM	$	25,486,961	$	634,044	$	3,425	$	26,117,580

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

	December 31, 2019
Available for Sale:	Amortized Cost		Estimated Fair Value
Amounts maturing in:
One year or less	$	2,003,753	$	2,008,857
After one through five years		30,515,506		31,324,990
After five through ten years		13,117,995		13,522,004
After ten years		20,750,496		20,970,012
Total debt securities AFS	$	66,387,750	$	67,825,863
Held to Maturity:		Amortized Cost		Estimated Fair Value
Amounts maturing in:
One year or less	$	2,515,949	$	2,522,936
After one through five years		9,487,983		9,704,341
After five through ten years		8,864,208		9,094,103
After ten years		4,618,822		4,796,200
Total debt securities HTM	$	25,486,961	$	26,117,580

Schedule of Activity of Security Sales by Intention

The following tables summarize the activity of security sales by intention and year for years ending 2019, 2018, and 2017.

Securities Available For Sale:

December 31,	2019		2018			2017
Proceeds of sales	$	9,358,503	$	2,879,000		$	5,741,211
Gross gains	$	174,283	$	0		$	186,610
Gross losses		0		(165,369	)		0
Net gains (losses) on sales of  available for sale securities	$	174,283	$	(165,369	)	$	186,610

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, 2019	Less Than Twelve Months				Twelve Months or More
Gross Unrealized Losses	Fair Value		Gross Unrealized Losses		Gross Unrealized Losses		Fair Value
Securities Available for Sale
Temporarily impaired debt securities:
U.S. government agency securities	$	24,760		975,240	$	0	$	0
State and municipal securities		0		0		0		0
Residential mortgage-backed securities		12,571		3,961,786		1,136		99,289
Total debt securities available for sale	$	37,331	$	4,937,026	$	1,136	$	99,289
Securities Held to Maturity
Temporarily impaired debt securities:
Residential mortgage-backed securities	$	3,425	$	472,171	$	0	$	0
Total securities held to maturity	$	3,425	$	472,171	$	0	$	0

December 31, 2018	Less Than Twelve Months				Twelve Months or More
Gross Unrealized Losses	Fair Value		Gross Unrealized Losses		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