Note 4 - Securities (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

Debt Securities, Available-for-sale [Table Text Block]

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Approximate Fair Value
As of June 30, 2020
Debt Securities:
U. S. government agencies	$	8,532,000	$	17,924	$	(6,603	)	$	8,543,321
Municipals		49,127,773		2,241,588		(90,355	)		51,279,006
Corporates		27,055,325		374,680		(159,072	)		27,270,933
Mortgage-backed securities - private label		10,838,275		123,752		(165,184	)		10,796,843
Government sponsored asset-backed securities and SBA loan pools		47,869,033		1,357,901		(94,163	)		49,132,771
	$	143,422,406	$	4,115,845	$	(515,377	)	$	147,022,874

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Approximate Fair Value
As of December 31, 2019
Debt Securities:
U. S. government agencies	$	2,499,755	$	-	$	(11,962	)	$	2,487,793
Municipals		35,625,038		675,382		(125,693	)		36,174,727
Corporates		15,395,190		154,942		(14,945	)		15,535,187
Mortgage-backed securities - private label		13,788,728		52,035		(29,392	)		13,811,371
Government sponsored mortgage-backed securities and SBA loan pools		49,844,049		585,641		(193,454	)		50,236,236
	$	117,152,760	$	1,468,000	$	(375,446	)	$	118,245,314

Available-for-sale Securities [Table Text Block]

	Amortized Cost		Approximate Fair Value
1-5 years	$	150,000	$	150,324
6-10 years		36,006,625		36,533,558
After 10 years		48,558,473		50,409,378
Mortgage-backed securities - private label not due on a single maturity date		10,838,275		10,796,843
Government sponsored asset-backed securities and SBA loan pools not due on a single maturity date		47,869,033		49,132,771
	$	143,422,406	$	147,022,874

Schedule of Unrealized Loss on Investments [Table Text Block]

As of June 30, 2020
	Less than 12 Months					12 Months or More				Total
Description of Securities	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. government agencies	$	4,743,398	$	(6,603	)	$	-	$	-		4,743,398	$	(6,603	)
Municipals		4,870,205		(90,355	)		-		-
Corporates		10,351,648		(159,072	)		-		-		10,351,648		(159,072	)
Mortgage-backed securities - private label		5,234,232		(165,184	)		-		-		5,234,232		(165,184	)
Government sponsored asset-backed securities and SBA loan pools		6,439,929		(94,163	)		-		-		6,439,929		(94,163	)
	$	31,639,412	$	(515,377	)	$	-	$	-	$	31,639,412	$	(515,377	)

As of December 31, 2019
	Less than 12 Months					12 Months or More					Total
Description of Securities	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
U.S. government agencies	$	2,487,795	$	(11,962	)	$	-	$	-			2,487,795	$	(11,962	)
Municipals		7,083,208		(125,693	)		-		-			7,083,208		(125,693	)
Corporates		2,452,005		(14,945	)		-		-			2,452,005		(14,945	)
Mortgage-backed securities - private label		9,416,669		(29,392	)		-		-			9,416,669		(29,392	)
Government sponsored asset-backed securities and SBA loan pools		18,112,148		(125,906	)		3,018,538		(67,548	)		21,130,686		(193,454	)
	$	39,551,825	$	(307,898	)	$	3,018,538	$	(67,548	)	$	42,570,363	$	(375,446	)