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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 30, 2019
Dec. 31, 2018
ASSETS    
Cash and due from banks $ 4,169,211 $ 5,818,955
Interest-bearing deposits in other financial institutions 48,856,560 28,302,687
Cash and cash equivalents 53,025,771 34,121,642
Interest-bearing time deposits at other financial institutions 250,000 250,000
Available-for-sale securities 95,031,221 86,266,197
Stock in Federal Home Loan Bank, at cost 3,157,500 5,387,200
Loans receivable, net of allowance for loan losses of June 30, 2019 - $7,670,666 - December 31, 2018 - $7,995,569 751,190,822 778,298,606
Accrued interest receivable 3,528,976 3,390,944
Prepaid expenses and other assets 10,749,882 6,261,159
Goodwill 1,434,982 1,434,982
Core deposit intangible 2,742,410 2,980,910
Foreclosed assets held for sale 1,399,221 1,126,963
Premises and equipment, net 19,735,644 20,095,161
Operating lease right-of-use asset 9,334,911
Bank owned life insurance 20,422,623 20,198,074
Deferred and income taxes receivable 3,525,426 3,809,183
977,443,808 965,137,870
LIABILITIES    
Deposits 802,477,539 749,618,822
Federal Home Loan Bank advances 50,000,000 105,300,000
Subordinated debentures 21,716,897 21,760,829
Note payable to bank 5,000,000 5,000,000
Advances from borrowers for taxes and insurance 525,667 289,808
Accrued expenses and other liabilities 3,652,629 1,868,008
Operating lease liability 9,364,989
Accrued interest payable 967,815 821,811
893,705,536 884,659,278
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY    
Common stock, $0.10 par value; authorized 10,000,000 shares; issued June 30, 2019 and December 31, 2018 - 6,912,003 and 6,902,003 shares; respectively 691,200 690,200
Additional paid-in capital 51,575,395 51,382,585
Retained earnings, substantially restricted 69,214,712 65,829,687
Accumulated other comprehensive loss (676,225) (452,756)
120,805,082 117,449,716
Treasury stock, at cost; June 30, 2019 and December 31, 2018 - 2,442,774 and 2,443,522 shares, respectively (37,066,810) (36,971,124)
83,738,272 80,478,592
977,443,808 965,137,870
Residential Mortgage [Member]    
ASSETS    
Mortgage loans held for sale $ 1,914,419 $ 1,516,849