Note 3 - Statements of Cash Flows

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Cash Flow, Supplemental Disclosures [Text Block]

3.

Statements of Cash Flows:

The Company has defined cash and cash equivalents as cash and due from banks. The Company paid

$1,331,012

and

$2,565,020

for the

nine

months ended

September 30, 2020

and

2019,

respectively, for interest on deposits and borrowings.

No

income tax payments were made during the

nine

months ended

September 30, 2020

and

2019.

Loans transferred to other real estate amounted to

$1,658,274

during the

nine

months ended

September 30, 2019.

No

loans were transferred to other real estate during the

nine

months ended

September 30, 2020.