Accounting Standards Update and Change in Accounting Principle [Table Text Block] |
| | December 31, 2022 | | | January 1, 2023 | |
| | Pre-ASC 326 Adoption | | | Impact of ASC 326 Adoption | | | As Reported Under ASC 326 | |
Assets: | | | | | | | | | | | | |
Loans, gross | | $ | 521,679,143 | | | $ | 233,411 | | | $ | 521,912,554 | |
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Allowance for credit losses: | | | | | | | | | | | | |
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Loans: | | | | | | | | | | | | |
Real estate: | | | | | | | | | | | | |
Commercial | | | 2,818,582 | | | | (448,483 | ) | | | 2,370,099 | |
Construction and land development | | | 164,596 | | | | 277,317 | | | | 441,913 | |
Residential | | | 793,919 | | | | 508,579 | | | | 1,302,498 | |
Commercial | | | 337,303 | | | | 133,838 | | | | 471,141 | |
Consumer | | | 4,706 | | | | (4,526 | ) | | | 180 | |
Unallocated | | | 31,092 | | | | (31,092 | ) | | | - | |
Allowance for credit losses on loans | | | 4,150,198 | | | | 435,633 | | | | 4,585,831 | |
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Loans, net | | | 517,528,945 | | | | (202,222 | ) | | | 517,326,723 | |
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Allowance for credit losses on debt securities held to maturity | | | - | | | | 51,990 | | | | 51,990 | |
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Net deferred tax asset | | | - | | | | 92,441 | | | | 92,441 | |
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Liabilities: | | | | | | | | | | | | |
Allowance for credit losses on off balance sheet credit exposures | | | - | | | | 81,723 | | | | 81,723 | |
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Total equity | | $ | 49,834,244 | | | $ | (243,494 | ) | | $ | 49,590,750 | |
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Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] |
| | Year Ended December 31, | |
| | 2023 | | | 2022 | |
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Net income | | $ | 6,418,337 | | | $ | 8,090,127 | |
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Weighted average shares outstanding | | | 3,083,021 | | | | 3,046,377 | |
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Effect of dilutive restricted stock units | | | 3,000 | | | | - | |
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Weighted average shares outstanding | | | 3,086,021 | | | | 3,046,377 | |
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Earnings per share - basic | | $ | 2.08 | | | $ | 2.66 | |
Earnings per share - diluted | | $ | 2.08 | | | $ | 2.66 | |
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