Note 3 - Statements of Cash Flows

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Cash Flow, Supplemental Disclosures [Text Block]

3.

Statements of Cash Flows:

The Company has defined cash and cash equivalents as cash and due from banks. The Company paid

$611,708

and

$852,975

for the

three

months ended

March 31, 2020

and

2019,

respectively, for interest on deposits and borrowings.

No

income tax payments were made during the

three

months ended

March 31, 2020

and

2019.

Loans transferred to other real estate amounted to

$369,054

during the

three

months ended

March 31, 2019.

No

loans were transferred to other real estate during the

three

months ended

March 31, 2020.