Note 3 - Securities (Tables)

12 Months Ended

Dec. 31, 2020

Notes Tables

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

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Approximate Fair Value
As of December 31, 2020
Debt Securities:
U. S. government agencies	$	6,282,000	$	6,519	$	(4,885	)		6,283,634
Municipals		58,754,912		3,241,133		(26,991	)		61,969,054
Corporates		30,510,893		261,740		(171,811	)		30,600,822
Mortgage-backed securities - private label - commercial		5,399,385		55,712		(10,650	)		5,444,447
Mortgage-backed securities - private label - consumer		9,249,375		228,469		(25,747	)		9,452,097
Government sponsored mortgage-backed securities and SBA loan pools		49,053,252		1,391,728		(74,165	)		50,370,815
	$	159,249,817	$	5,185,301	$	(314,249	)	$	164,120,869

	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	$	1,150,000	$	1,149,433
5-10 years		36,190,647		36,551,663
After ten years		58,207,158		61,152,414
Mortgage-backed securities - private label - commercial not due on a single maturity date		5,399,385		5,444,447
Mortgage-backed securities - private label - consumer not due on a single maturity date		9,249,375		9,452,097
Government sponsored mortgage-backed securities and SBA loan pools not due on a single maturity date		49,053,252		50,370,815
	$	159,249,817	$	164,120,869

Schedule of Unrealized Loss on Investments [Table Text Block]

	December 31, 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	$	1,495,116	$	(4,885	)	$	-	$	-	$	1,495,116	$	(4,885	)
Municipals		4,011,492		(26,991	)		-		-		4,011,492		(26,991	)
Corporates		14,869,853		(171,811	)		-		-		14,869,853		(171,811	)
Mortgage-backed securities - private label - commercial		1,481,805		(10,650	)		-		-		1,481,805		(10,650	)
Mortgage-backed securities - private label - consumer		2,391,511		(25,747	)		-		-		2,391,511		(25,747	)
Government sponsored mortgage-backed securities and SBA loan pools		5,799,696		(74,165	)		-		-		5,799,696		(74,165	)
	$	30,049,473	$	(314,249	)	$	-	$	-	$	30,049,473	$	(314,249	)

	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 mortgage-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	)