Note 3 - Securities Held to Maturity (Tables)

6 Months Ended

Jun. 30, 2024

Notes Tables

Debt Securities, Held-to-Maturity [Table Text Block]

			Gross		Gross
	Amortized		Unrecognized		Unrecognized			Fair
	Cost		Gains		Losses			Value
June 30, 2024
U.S. Government and agency obligations due in:
Less than one year	$	10,000,000	$	—	$	(233,800	)	$	9,766,200
Five through ten years		3,000,000		—		(364,119	)		2,635,881
Corporate bonds due in:
One through five years		8,090,631		69,159		(160,244	)		7,999,546
Five through ten years		20,406,714		44,148		(2,124,370	)		18,326,492
Greater than ten years		4,304,597		9,083		—			4,313,680
Municipal obligations due in:
One through five years		901,120		—		(43,339	)		857,781
Five through ten years		1,589,537		—		(238,285	)		1,351,252
Greater than ten years		507,214		—		(100,129	)		407,085
MBS:
Residential		15,524,343		20,302		(1,405,251	)		14,139,394
Commercial		16,849,637		—		(2,622,699	)		14,226,938
Total	$	81,173,793	$	142,692	$	(7,292,236	)	$	74,024,249

			Gross		Gross
	Amortized		Unrecognized		Unrecognized			Fair
	Cost		Gains		Losses			Value
December 31, 2023
U.S. Government and agency obligations
One through five years	$	10,000,000	$	—	$	(314,240	)	$	9,685,760
Five through ten years		3,000,000		—		(372,885	)		2,627,115
Corporate bonds due in:
One through five years		6,431,007		—		(52,685	)		6,378,322
Five through ten years		16,294,604		38,684		(2,074,007	)		14,259,281
Greater than ten years		4,287,941		—		(441	)		4,287,500
Municipal obligations due in:
One through five years		901,597		—		(55,102	)		846,495
Five through ten years		1,591,199		784		(160,655	)		1,431,328
Greater than ten years		507,716		—		(103,356	)		404,360
MBS:
Residential		12,484,366		7,223		(1,457,104	)		11,034,485
Commercial		17,157,749		—		(2,737,642	)		14,420,107
Total	$	72,656,179	$	46,691	$	(7,328,117	)	$	65,374,753

Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Table Text Block]

	U.S. government and agency obligations		Corporate bonds		Municipal obligations		MBS – residential		MBS – commercial		Total
For the three months ended
June 30, 2024
Allowance for credit losses:
Beginning balance	$	—	$	35,000	$	—	$	—	$	—	$	35,000
Provision for credit losses		—		73,000		—		—		—		73,000
Securities losses		—		—		—		—		—		—
Recoveries		—		—		—		—		—		—
Total ending allowance balance	$	—	$	108,000	$	—	$	—	$	—	$	108,000

U.S. government and agency obligations

Corporate bonds

Municipal obligations

MBS – residential

MBS – commercial

Total

June 30, 2023

Allowance for credit losses:

Beginning balance

$

—

$

—

$

—

$

—

$

—

$

—

Impact of ASC 326 adoption

—

—

—

—

—

—

Provision for credit losses

—

—

—

—

—

—

Securities losses

—

—

—

—

—

—

Recoveries

—

—

—

—

—

—

Total ending allowance balance

$

—

$

—

$

—

$

—

$

—

$

—

	U.S. government and agency obligations		Corporate bonds		Municipal obligations		MBS – residential		MBS – commercial		Total
For the six months ended
June 30, 2024
Allowance for credit losses:
Beginning balance	$	—	$	—	$	—	$	—	$	—	$	—
Provision for credit losses		—		108,000		—		—		—		108,000
Securities losses		—		—		—		—		—		—
Recoveries		—		—		—		—		—		—
Total ending allowance balance	$	—	$	108,000	$	—	$	—	$	—	$	108,000

U.S. government and agency obligations

Corporate bonds

Municipal obligations

MBS – residential

MBS – commercial

Total

June 30, 2023

Allowance for credit losses:

Beginning balance

$

—

$

—

$

—

$

—

$

—

$

—

Impact of ASC 326 adoption

—

—

—

—

—

—

Provision for credit losses

—

—

—

—

—

—

Securities losses

—

—

—

—

—

—

Recoveries

—

—

—

—

—

—

Total ending allowance balance

$

—

$

—

$

—

$

—

$

—

$

—

Debt Securities, Held-to-Maturity, Unrecognized Loss Position [Table Text Block]

	U.S. government and agency obligations		Corporate bonds		Municipal obligations		MBS – residential		MBS – commercial
June 30, 2024
Credit Rating
AAA/AA/A	$	12,402,081	$	3,694,332	$	2,616,118	$	14,139,394	$	14,226,938
BBB/BB/B		—		6,409,086		—		—		—
Lower than B		—		—		—		—		—
Not Rated		—		20,536,300		—		—		—
Total	$	12,402,081	$	30,639,718	$	2,616,118	$	14,139,394	$	14,226,938

	U.S. government and agency obligations		Corporate bonds		Municipal obligations		MBS – residential		MBS – commercial
December 31, 2023
Credit Rating
AAA/AA/A	$	12,312,875	$	11,469,219	$	2,682,183	$	11,034,485	$	14,420,107
BBB/BB/B		—		4,999,038		—		—		—
Lower than B		—		—		—		—		—
Not Rated		—		8,456,846		—		—		—
Total	$	12,312,875	$	24,925,103	$	2,682,183	$	11,034,485	$	14,420,107