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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Mar. 31, 2019
Dec. 31, 2018
ASSETS    
Cash and due from banks $ 4,540,953 $ 5,818,955
Interest-bearing deposits in other financial institutions 38,508,308 28,302,687
Cash and cash equivalents 43,049,261 34,121,642
Interest-bearing time deposits at other financial institutions 250,000 250,000
Available-for-sale securities 98,793,658 86,266,197
Stock in Federal Home Loan Bank, at cost 3,241,500 5,387,200
Loans receivable, net of allowance for loan losses of March 31, 2019 - $7,846,622 - December 31, 2018 - $7,995,569 760,545,644 778,298,606
Accrued interest receivable 3,773,210 3,390,944
Prepaid expenses and other assets 10,289,237 6,261,159
Goodwill 1,434,982 1,434,982
Core deposit intangible 2,861,660 2,980,910
Foreclosed assets held for sale 1,179,536 1,126,963
Premises and equipment, net 19,778,454 20,095,161
Operating lease right-of-use asset 9,473,587
Bank owned life insurance 20,309,260 20,198,074
Deferred and income taxes receivable 3,641,600 3,809,183
981,468,844 965,137,870
LIABILITIES    
Deposits 806,831,336 749,618,822
Federal Home Loan Bank advances 52,100,000 105,300,000
Subordinated debentures 21,738,863 21,760,829
Note payable to bank 5,000,000 5,000,000
Advances from borrowers for taxes and insurance 421,826 289,808
Accrued expenses and other liabilities 2,318,551 1,868,008
Operating lease liability 9,490,385
Accrued interest payable 949,953 821,811
898,850,914 884,659,278
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY    
Common stock, $0.10 par value; authorized 10,000,000 shares; issued March 31, 2019 and December 31, 2018 - 6,912,003 and 6,902,003 shares; respectively 691,200 690,200
Additional paid-in capital 51,379,796 51,382,585
Retained earnings, substantially restricted 67,367,234 65,829,687
Accumulated other comprehensive loss (71,965) (452,756)
119,366,265 117,449,716
Treasury stock, at cost; March 31, 2019 and December 31, 2018 - 2,428,797 and 2,443,522 shares, respectively (36,748,335) (36,971,124)
82,617,930 80,478,592
981,468,844 965,137,870
Residential Mortgage [Member]    
ASSETS    
Mortgage loans held for sale $ 2,847,255 $ 1,516,849