Note 3 - Securities (Tables)

3 Months Ended

Mar. 31, 2021

Notes Tables

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

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Approximate Fair Value
As of March 31, 2021
Debt Securities:
U. S. government agencies	$	7,277,937	$	-	$	(293,249	)	$	6,984,688
Municipals		66,051,714		2,157,557		(743,209	)		67,466,062
Corporates		34,682,597		345,845		(394,092	)		34,634,350
Mortgage-backed securities - private label - commercial		6,406,588		76,714		(8,576	)		6,474,726
Mortgage-backed securities - private label - consumer		9,418,436		208,602		(95,228	)		9,531,810
Government sponsored asset-backed securities and SBA loan pools		53,763,840		1,054,204		(575,115	)		54,242,929
	$	177,601,112	$	3,842,922	$	(2,109,469	)	$	179,334,565

	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 asset-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

Available-for-sale Securities [Table Text Block]

	Amortized Cost		Approximate Fair Value
1-5 years	$	1,000,000	$	999,531
6-10 years		39,772,344		39,833,474
After 10 years		67,239,904		68,252,095
Mortgage-backed securities - private label - commercial not due on a single maturity date		6,406,588		6,474,726
Mortgage-backed securities - private label - consumer not due on a single maturity date		9,418,436		9,531,810
Government sponsored asset-backed securities and SBA loan pools not due on a single maturity date		53,763,840		54,242,929
	$	177,601,112	$	179,334,565

Schedule of Unrealized Loss on Investments [Table Text Block]

As of March 31, 2021	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	$	6,984,688	$	(293,249	)	$	-	$	-		$	6,984,688	$	(293,249	)
Municipals		19,726,646		(665,287	)		940,820		(77,922	)		20,667,466		(743,209	)
Corporates		15,201,566		(390,164	)		1,002,423		(3,928	)		16,203,989		(394,092	)
Mortgage-backed securities - private label - commercial		1,007,242		(109	)		1,484,550		(8,467	)		2,491,792		(8,576	)
Mortgage-backed securities - private label - consumer		3,092,306		(95,228	)		-		-			3,092,306		(95,228	)
Government sponsored mortgage-backed securities and SBA loan pools		19,343,785		(575,115	)		-		-			19,343,785		(575,115	)
	$	65,356,233	$	(2,019,152	)	$	3,427,793	$	(90,317	)	$	68,784,026	$	(2,109,469	)

As of 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	)