5. Loans, Allowance for Loan Losses and Credit Quality (Tables)

9 Months Ended

Sep. 30, 2019

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

Composition of net loans

	September 30,			December 31,
	2019			2018
Commercial & industrial	$	92,644,869		$	80,766,693
Commercial real estate		249,599,721			235,318,148
Municipal (1)		51,935,005			47,067,023
Residential real estate - 1st lien		161,056,228			165,665,175
Residential real estate - Jr lien		44,161,727			44,544,987
Consumer		4,709,738			5,088,491
Total loans		604,107,288			578,450,517
Deduct (add):
ALL		5,883,642			5,602,541
Deferred net loan costs		(360,390	)		(363,614	)
Net loans	$	598,584,036		$	573,211,590

Past due loans by segment

September 30, 2019	30-89 Days		90 Days or More		Total Past Due		Current		Total Loans		Non-Accrual Loans		90 Days or More and Accruing
Commercial & industrial	$	174,959	$	162,330	$	337,289	$	92,307,580	$	92,644,869	$	570,171	$	0
Commercial real estate		536,098		261,321		797,419		248,802,302		249,599,721		1,746,986		0
Municipal		0		0		0		51,935,005		51,935,005		0		0
Residential real estate
- 1st lien		1,896,729		2,166,286		4,063,015		156,993,213		161,056,228		2,754,912		969,072
- Jr lien		475,345		294,600		769,945		43,391,782		44,161,727		266,815		181,477
Consumer		24,426		0		24,426		4,685,312		4,709,738		0		0
Totals	$	3,107,557	$	2,884,537	$	5,992,094	$	598,115,194	$	604,107,288	$	5,338,884	$	1,150,549

December 31, 2018	30-89 Days		90 Days or More		Total Past Due		Current		Total Loans		Non-Accrual Loans		90 Days or More and Accruing
Commercial & industrial	$	217,385	$	0	$	217,385	$	80,549,308	$	80,766,693	$	84,814	$	0
Commercial real estate		1,509,839		190,789		1,700,628		233,617,520		235,318,148		1,742,993		0
Municipal		0		0		0		47,067,023		47,067,023		0		0
Residential real estate
- 1st lien		4,108,319		1,371,061		5,479,380		160,185,795		165,665,175		2,026,939		622,486
- Jr lien		484,855		353,914		838,769		43,706,218		44,544,987		408,540		104,959
Consumer		43,277		1,661		44,938		5,043,553		5,088,491		0		1,661
Total	$	6,363,675	$	1,917,425	$	8,281,100	$	570,169,417	$	578,450,517	$	4,263,286	$	729,106

Residential mortgage loans in process of foreclosure

	Number of loans		Balance
September 30, 2019		13	$	864,019
December 31, 2018		12		961,709

Changes in the allowance for loan losses

As of or for the three months ended September 30, 2019

									Residential			Residential
	Commercial			Commercial					Real Estate			Real Estate
	& Industrial			Real Estate			Municipal		1st Lien			Jr Lien			Consumer			Unallocated			Total
ALL beginning balance	$	715,132		$	3,094,781		$	0	$	1,427,357		$	287,984		$	53,410		$	145,089		$	5,723,753
Charge-offs		(6,795	)		(101,476	)		0		(147,724	)		0			(11,338	)		0			(267,333	)
Recoveries		1,690			0			0		1,059			485			11,489			0			14,723
Provision (credit)		133,632			272,858			0		130,189			(3,402	)		(454	)		(120,324	)		412,499
ALL ending balance	$	843,659		$	3,266,163		$	0	$	1,410,881		$	285,067		$	53,107		$	24,765		$	5,883,642

As of or for the nine months ended September 30, 2019

									Residential			Residential
	Commercial			Commercial					Real Estate			Real Estate
	& Industrial			Real Estate			Municipal		1st Lien			Jr Lien			Consumer			Unallocated			Total
ALL beginning balance	$	697,469		$	3,019,868		$	0	$	1,421,494		$	273,445		$	56,787		$	133,478		$	5,602,541
Charge-offs		(10,368	)		(116,186	)		0		(242,244	)		(102,000	)		(70,959	)		0			(541,757	)
Recoveries		10,768			0			0		11,131			1,486			32,805			0			56,190
Provision (credit)		145,790			362,481			0		220,500			112,136			34,474			(108,713	)		766,668
ALL ending balance	$	843,659		$	3,266,163		$	0	$	1,410,881		$	285,067		$	53,107		$	24,765		$	5,883,642
ALL evaluated for impairment
Individually	$	95,945		$	0		$	0	$	107,526		$	1,709		$	0		$	0		$	205,180
Collectively		747,714			3,266,163			0		1,303,355			283,358			53,107			24,765			5,678,462
Total	$	843,659		$	3,266,163		$	0	$	1,410,881		$	285,067		$	53,107		$	24,765		$	5,883,642
Loans evaluated for impairment
Individually	$	570,172		$	1,849,290		$	0	$	5,129,666		$	180,516		$	0					$	7,729,644
Collectively		92,074,697			247,750,431			51,935,005		155,926,562			43,981,211			4,709,738						596,377,644
Total	$	92,644,869		$	249,599,721		$	51,935,005	$	161,056,228		$	44,161,727		$	4,709,738					$	604,107,288

As of or for the year ended December 31, 2018

									Residential			Residential
	Commercial			Commercial					Real Estate			Real Estate
	& Industrial			Real Estate			Municipal		1st Lien			Jr Lien			Consumer			Unallocated			Total
ALL beginning balance	$	675,687		$	2,674,029		$	0	$	1,460,547		$	316,982		$	43,303		$	267,551		$	5,438,099
Charge-offs		(152,860	)		(124,645	)		0		(251,654	)		(69,173	)		(143,688	)		0			(742,020	)
Recoveries		60,192			0			0		26,832			1,420			38,018			0			126,462
Provision (credit)		114,450			470,484			0		185,769			24,216			119,154			(134,073	)		780,000
ALL ending balance	$	697,469		$	3,019,868		$	0	$	1,421,494		$	273,445		$	56,787		$	133,478		$	5,602,541
ALL evaluated for impairment
Individually	$	0		$	0		$	0	$	112,969		$	1,757		$	0		$	0		$	114,726
Collectively		697,469			3,019,868			0		1,308,525			271,688			56,787			133,478			5,487,815
Total	$	697,469		$	3,019,868		$	0	$	1,421,494		$	273,445		$	56,787		$	133,478		$	5,602,541
Loans evaluated for impairment
Individually	$	60,846		$	1,746,894		$	0	$	4,392,060		$	319,321		$	0					$	6,519,121
Collectively		80,705,847			233,571,254			47,067,023		161,273,115			44,225,666			5,088,491						571,931,396
Total	$	80,766,693		$	235,318,148		$	47,067,023	$	165,665,175		$	44,544,987		$	5,088,491					$	578,450,517

As of or for the three months ended September 30, 2018

						Residential			Residential
	Commercial			Commercial		Real Estate			Real Estate
	& Industrial			Real Estate		1st Lien			Jr Lien			Consumer			Unallocated		Total
ALL beginning balance	$	785,089		$	2,708,239	$	1,398,041		$	287,602		$	51,635		$	182,417	$	5,413,023
Charge-offs		0			0		(591	)		(12,174	)		(37,327	)		0		(50,092	)
Recoveries		34,818			0		17,353			260			15,865			0		68,296
Provision (credit)		(34,687	)		102,491		(18,277	)		78,108			21,590			60,775		210,000
ALL ending balance	$	785,220		$	2,810,730	$	1,396,526		$	353,796		$	51,763		$	243,192	$	5,641,227

As of or for the nine months ended September 30, 2018

							Residential			Residential
	Commercial			Commercial			Real Estate			Real Estate
	& Industrial			Real Estate			1st Lien			Jr Lien			Consumer			Unallocated			Total
ALL beginning balance	$	675,687		$	2,674,029		$	1,460,547		$	316,982		$	43,303		$	267,551		$	5,438,099
Charge-offs		(131,273	)		(124,645	)		(79,025	)		(36,174	)		(110,715	)		0			(481,832	)
Recoveries		54,858			0			26,511			935			32,656			0			114,960
Provision (credit)		185,948			261,346			(11,507	)		72,053			86,519			(24,359	)		570,000
ALL ending balance	$	785,220		$	2,810,730		$	1,396,526		$	353,796		$	51,763		$	243,192		$	5,641,227

Impaired loans by segment

	As of September 30, 2019
			Unpaid				Average		Average		Interest
	Recorded		Principal		Related		Recorded		Recorded		Income
	Investment		Balance		Allowance		Investment (1)		Investment (2)		Recognized(2)
Related allowance recorded
Commercial & industrial	$	162,330	$	162,330	$	95,945	$	81,165	$	40,583	$	0
Commercial real estate		0		0		0		0		122,150		0
Residential real estate
- 1st lien		1,114,686		1,135,476		107,526		1,089,372		1,008,088		70,281
- Jr lien		7,346		109,333		1,709		7,010		7,056		495
Total with related allowance		1,284,362		1,407,139		205,180		1,177,547		1,177,877		70,776
No related allowance recorded
Commercial & industrial		407,841		426,051				507,336		278,776		4,077
Commercial real estate		1,849,859		2,273,987				1,951,505		1,841,103		13,223
Residential real estate
- 1st lien		4,035,429		4,808,932				4,108,857		3,819,787		164,274
- Jr lien		173,184		222,339				183,283		243,679		0
Total with no related allowance		6,466,313		7,731,309				6,750,981		6,183,345		181,574
Total impaired loans	$	7,750,675	$	9,138,448	$	205,180	$	7,928,528	$	7,361,222	$	252,350

(1) For the three months ended September 30, 2019

(2) For the nine months ended September 30, 2019 

	As of December 31, 2018
			Unpaid				Average		Interest
	Recorded		Principal		Related		Recorded		Income
	Investment		Balance		Allowance		Investment (1)		Recognized (1)
Related allowance recorded
Commercial real estate	$	0	$	0	$	0	$	57,658	$	0
Residential real estate
- 1st lien		942,365		963,367		112,969		836,326		45,139
- Jr lien		7,271		7,248		1,757		77,555		351
Total with related allowance		949,636		970,615		114,726		971,539		45,490
No related allowance recorded
Commercial & industrial		60,846		80,894				120,924		0
Commercial real estate		1,748,323		1,975,831				1,663,794		13,131
Residential real estate
- 1st lien		3,465,117		4,082,637				3,497,772		94,313
- Jr lien		312,072		351,139				235,970		0
Total with no related allowance		5,586,358		6,490,501				5,518,460		107,444
Total impaired loans	$	6,535,994	$	7,461,116	$	114,726	$	6,489,999	$	152,934

(1) For the year ended December 31, 2018

	As of September 30, 2018
			Unpaid				Average		Average		Interest
	Recorded		Principal		Related		Recorded		Recorded		Income
	Investment		Balance		Allowance		Investment (1)		Investment (2)		Recognized(2)
Related allowance recorded
Commercial real estate	$	0	$	0	$	0	$	0	$	72,073	$	0
Residential real estate
- 1st lien		857,688		900,987		141,863		823,580		809,816		46,721
- Jr lien		217,869		220,712		82,236		112,833		95,126		571
Total with related allowance		1,075,557		1,121,699		224,099		936,413		977,015		47,292
No related allowance recorded
Commercial & industrial		62,879		82,267				129,979		135,944		0
Commercial real estate		1,879,357		2,082,229				1,972,312		1,642,662		56,857
Residential real estate
- 1st lien		3,671,955		4,225,575				3,607,829		3,505,936		180,255
- Jr lien		151,731		152,678				224,653		216,944		0
Total with no related allowance		5,765,922		6,542,749				5,934,773		5,501,486		237,112
Total impaired loans	$	6,841,479	$	7,664,448	$	224,099	$	6,871,186	$	6,478,501	$	284,404

(1) For the three months ended September 30, 2018

(2) For the six months ended September 30, 2018

Risk ratings

As of September 30, 2019

							Residential		Residential
	Commercial		Commercial				Real Estate		Real Estate
	& Industrial		Real Estate		Municipal		1st Lien		Jr Lien		Consumer		Total
Group A	$	90,358,067	$	238,563,693	$	51,935,005	$	156,675,620	$	43,564,376	$	4,709,738	$	585,806,499
Group B		176,070		2,737,733		0		0		0		0		2,913,803
Group C		2,110,732		8,298,295		0		4,380,608		597,351		0		15,386,986
Total	$	92,644,869	$	249,599,721	$	51,935,005	$	161,056,228	$	44,161,727	$	4,709,738	$	604,107,288

As of December 31, 2018

							Residential		Residential
	Commercial		Commercial				Real Estate		Real Estate
	& Industrial		Real Estate		Municipal		1st Lien		Jr Lien		Consumer		Total
Group A	$	78,585,348	$	226,785,919	$	47,067,023	$	161,293,233	$	43,817,872	$	5,086,830	$	562,636,225
Group B		90,763		246,357		0		224,992		0		0		562,112
Group C		2,090,582		8,285,872		0		4,146,950		727,115		1,661		15,252,180
Total	$	80,766,693	$	235,318,148	$	47,067,023	$	165,665,175	$	44,544,987	$	5,088,491	$	578,450,517

Loans modified as TDRs

	Three months ended September 30, 2019						Nine months ended September 30, 2019
			Pre-		Post-				Pre-		Post-
			Modification		Modification				Modification		Modification
			Outstanding		Outstanding				Outstanding		Outstanding
	Number of		Recorded		Recorded		Number of		Recorded		Recorded
	Contracts		Investment		Investment		Contracts		Investment		Investment
Commercial & industrial		1	$	288,912	$	288,912		3	$	338,129	$	338,129
Commercial real estate		0		0		0		1		19,265		21,628
Residential real estate
- 1st lien		1		20,984		31,598		5		530,330		569,800
Total		2	$	309,896	$	320,510		9	$	887,724	$	929,557

	Year ended December 31, 2018
			Pre-		Post-
			Modification		Modification
			Outstanding		Outstanding
	Number of		Recorded		Recorded
	Contracts		Investment		Investment
Commercial real estate		1	$	406,920	$	406,920
Residential real estate – 1st lien		10		1,031,330		1,142,089
Total		11	$	1,438,250	$	1,549,009

Three months ended September 30, 2018

Nine months ended September 30, 2018

Pre-

Post-

Pre-

Post-

Modification

Modification

Modification

Modification

Outstanding

Outstanding

Outstanding

Outstanding

Number of

Recorded

Recorded

Number of

Recorded

Recorded

Contracts

Investment

Investment

Contracts

Investment

Investment

Residential real estate

- 1st lien

1

$

49,108

$

50,814

8

$

947,671

$

1,054,280

TDRs payment default

For the twelve months ended September 30, 2019

	Number of		Recorded
	Contracts		Investment
Commercial real estate		1	$	376,864

For the twelve months ended December 31, 2018

	Number of		Recorded
	Contracts		Investment
Commercial real estate		1	$	400,646
Residential real estate - 1st lien		3		518,212
Total		4	$	918,858

For the twelve months ended September 30, 2018	Number of		Recorded
	Contracts		Investment
Residential real estate – 1st lien		3	$	479,652

Specific allowances

	September 30,		December 31,
	2019		2018
Specific Allocation (TDRs)	$	108,246	$	114,726