Note 21 - Related Party Transactions

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

NOTE 21:         RELATED PARTY TRANSACTIONS

In the ordinary course of business, the Bank has granted loans to executive officers and directors and their affiliates. Annual activity consisted of the following:

	Year ended December 31,
	2020			2019			2018
Balance, beginning of year	$	4,030,844		$	5,797,809		$	6,528,933
New Loans		1,815,200			500,000			2,795,734
Repayments		(1,489,063	)		(2,266,965	)		(3,526,858	)
Balance, end of year	$	4,356,981		$	4,030,844		$	5,797,809

In management's opinion, such loans and other extensions of credit and deposits were made in the ordinary course of business and were made on substantially the same terms as those prevailing at the time for comparable transactions with other persons. Further, in management's opinion, these loans did not involve more than normal risk of collectability or present other unfavorable features.