Note 12 - Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2020

Notes Tables

Schedule of Derivative Instruments [Table Text Block]

Derivatives designated as hedging instruments:
									June 30, 2020	Estimated Fair Value at:
Forward Start Inception Date	Termination Date	Derivative Type	Notional Amount		Rate Paid			Rate Hedged	Balance Sheet Classfication	June 30, 2020			December 31, 2019
2/28/2018	2/28/2025	Interest rate swap - FHLB Advances	$	50,000,000		2.12	%	3 month LIBOR Floating	Other liabilites	$	(4,294,478	)	$	(1,067,935	)
5/23/2019	2/23/2026	Interest rate swap - Subordinated Debentures	$	10,310,000		4.09	%	3 month LIBOR Floating +145 bps	Other liabilites	$	(1,339,760	)	$	(560,388	)

Derivative Instruments, Gain (Loss) [Table Text Block]

Derivative	Income Statement	Three months ended June 30,					Six months ended June 30,
Type	Classfication	2020		2019			2020		2019
Interest rate swap - FHLB Advances	Interest expense	$	122,537	$	(59,205	)	$	162,378	$	(129,093	)
Interest rate swap - Subordinated Debentures	Interest expense	$	38,590	$	1,301		$	60,031	$	1,301