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Loans Receivable, Net (Tables)

6 Months Ended

Jun. 30, 2020

Loans Receivable, Net [Abstract] (Deprecated 2019-01-31)

Financing Receivable, Nonaccrual [Table Text Block]

The following table shows non-accrual loans by category at June 30, 2020 compared to December 31, 2019:


	June 30, 2020						December 31, 2019					Increase (Decrease)
	Amount		Percent ⁽¹⁾		Amount		Percent ⁽¹⁾		$		%
Non-accrual Loans:
Residential Real Estate	$	2,393,501	0.4	%	$	1,520,485	0.3	%	$	873,016	57.4%
Consumer	402,084		0.1		319,280		0.1		82,804		25.9
Commercial Business	120,042		—		122,605		—		(2,563)		(2.1)
Commercial Real Estate	864,409		0.2		1,474,036		0.3		(609,627)		(41.4)
Total Non-accrual Loans	$	3,780,036	0.7	%	$	3,436,406	0.7	%	$	343,630	10.0%

^{(1) PERCENT OF TOTAL LOANS HELD FOR INVESTMENT, NET OF DEFERRED FEES AND LOANS IN PROCESS.}

Impaired Financing Receivables [Table Text Block]

The following tables present information related to impaired loans by loan category at June 30, 2020 and December 31, 2019 and for the six months ended June 30, 2020 and 2019. There was no allowance recorded related to any impaired loans at June 30, 2020 and December 31, 2019.


	June 30, 2020										December 31, 2019
Impaired Loans	Recorded Investment		Unpaid Principal Balance		Related Allowance		Recorded Investment		Unpaid Principal Balance		Related Allowance
With No Related Allowance Recorded:
Residential Real Estate	$	1,816,520	$	1,816,520	$	—	$	1,086,433	$	1,086,433	$	—
Consumer	176,522		184,822		—		184,402		192,702		—
Commercial Business	55,446		950,446		—		64,406		959,406		—
Commercial Real Estate	1,502,437		1,674,657		—		1,894,642		2,066,862		—










Total	$	3,550,925	$	4,626,445	$	—	$	3,229,883	$	4,305,403	$	—

8. Loans Receivable, Net, Continued


	Three Months Ended June 30,
	2020						2019
Impaired Loans	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
With No Related Allowance Recorded:
Residential Real Estate	$	1,826,881	$	11,835	$	1,157,380	$	—
Consumer	178,355		—		137,233		—
Commercial Business	61,366		—		73,606		—
Commercial Real Estate	1,836,782		18,232		2,481,028		14,085
With an Allowance Recorded:

Consumer	—		—		71,554		—

Commercial Real Estate	—		—		996,990		—
Total
Residential Real Estate	1,826,881		11,835		1,157,380		—
Consumer	178,355		—		208,787		—
Commercial Business	61,366		—		73,606		—
Commercial Real Estate	1,836,782		18,232		3,478,018		14,085
Total	$	3,903,384	$	30,067	$	4,917,791	$	14,085


	Six Months Ended June 30,
	2020						2019
Impaired Loans	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
With No Related Allowance Recorded:
Residential Real Estate	$	1,837,270	$	13,030	$	1,347,984	$	—
Consumer	180,340		—		982,404		—
Commercial Business	62,669		—		75,149		—
Commercial Real Estate	1,856,463		33,792		2,866,245		28,332
With an Allowance Recorded:

Consumer	—		—		72,072		—

Commercial Real Estate	—		—		1,181,152		—
Total
Residential Real Estate	1,837,270		13,030		1,347,984		—
Consumer	180,340		—		1,054,476		—
Commercial Business	62,669		—		75,149		—
Commercial Real Estate	1,856,463		33,792		4,047,397		28,332
Total	$	3,936,742	$	46,822	$	6,525,006	$	28,332

Financing Receivable, Troubled Debt Restructuring [Table Text Block]

Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent [Table Text Block] (Deprecated 2019-01-31)

The following tables show the activity in the allowance for loan losses by category for the three and six months ended June 30, 2020 and 2019:


	Three Months Ended June 30, 2020
	Residential Real Estate		Consumer		Commercial Business		Commercial Real Estate		Total
Beginning Balance	$	1,470,338	$	1,328,285	$	612,718	$	6,460,497	$	9,871,838
Provision for Loan Losses	61,866		26,726		27,013		584,395		700,000
Charge-Offs	—		(55,886)		—		—		(55,886)
Recoveries	600		18,609		—		141,110		160,319
Ending Balance	$	1,532,804	$	1,317,734	$	639,731	$	7,186,002	$	10,676,271



	Six Months Ended June 30, 2020
	Residential Real Estate		Consumer		Commercial Business		Commercial Real Estate		Total
Beginning Balance	$	1,390,594	$	1,210,849	$	544,764	$	6,079,367	$	9,225,574
Provision for Loan Losses	141,010		168,670		130,015		960,305		1,400,000
Charge-Offs	—		(102,993)		(35,048)		—		(138,041)
Recoveries	1,200		41,208		—		146,330		188,738
Ending Balance	$	1,532,804	$	1,317,734	$	639,731	$	7,186,002	$	10,676,271


	Three Months Ended June 30, 2019
	Residential Real Estate		Consumer		Commercial Business		Commercial Real Estate		Total
Beginning Balance	$	1,147,670	$	1,121,205	$	991,982	$	5,537,698	$	8,798,555
Provision for Loan Losses	(23,308)		69,702		(95,635)		49,241		—
Charge-Offs	—		(135,286)		—		(28,079)		(163,365)
Recoveries	1,450		36,706		496		79,697		118,349
Ending Balance	$	1,125,812	$	1,092,327	$	896,843	$	5,638,557	$	8,753,539

8. Loans Receivable, Net, Continued


	Six Months Ended June 30, 2019
	Residential Real Estate		Consumer		Commercial Business		Commercial Real Estate		Total
Beginning Balance	$	1,191,443	$	1,203,593	$	923,600	$	5,853,081	$	9,171,717
Provision for Loan Losses	(35,958)		74,508		(40,189)		101,639		100,000
Charge-Offs	(34,599)		(265,480)		(1,132)		(428,164)		(729,375)
Recoveries	4,926		79,706		14,564		112,001		211,197
Ending Balance	$	1,125,812	$	1,092,327	$	896,843	$	5,638,557	$	8,753,539

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

Loans receivable, net, consisted of the following as of the dates indicated below:


	June 30, 2020		December 31, 2019
Residential Real Estate Loans	$	84,864,381	$	86,404,304
Consumer Loans	58,235,306		56,331,013
Commercial Business Loans	24,003,787		22,234,189
Commercial Real Estate Loans	311,975,450		303,550,905
Paycheck Protection Program Loans	72,672,428		—
Total Loans Held For Investment	551,751,352		468,520,411
Loans Held For Sale	6,155,830		3,990,606
Total Loans Receivable, Gross	$	557,907,182	$	472,511,017
Less:
Allowance For Loan Losses	10,676,271		9,225,574
Loans in Process	9,755,038		9,957,140
Deferred Loan Fees	3,029,378		469,568
	23,460,687		19,652,282
Total Loans Receivable, Net	$	534,446,495	$	452,858,735

Financing Receivable Credit Quality Indicators [Table Text Block]

The tables below summarize the balance within each risk category by loan type, excluding loans held for sale, at June 30, 2020 and December 31, 2019.



June 30, 2020	Pass		Caution		Special Mention		Substandard		Total Loans
Residential Real Estate	$	74,090,846	$	5,558,599	$	1,073,323	$	4,141,613	$	84,864,381
Consumer	44,897,990		10,759,361		937,761		1,640,194		58,235,306
Commercial Business	17,787,879		4,935,589		468,875		811,444		24,003,787
Commercial Real Estate	236,153,488		56,777,380		15,486,771		3,557,811		311,975,450
PPP	72,672,428		—		—		—		72,672,428
Total	$	445,602,631	$	78,030,929	$	17,966,730	$	10,151,062	$	551,751,352



December 31, 2019	Pass		Caution		Special Mention		Substandard		Total Loans
Residential Real Estate	$	76,674,539	$	4,612,182	$	1,155,802	$	3,961,781	$	86,404,304
Consumer	44,294,400		9,617,301		624,248		1,795,064		56,331,013
Commercial Business	16,140,592		5,486,393		301,462		305,742		22,234,189
Commercial Real Estate	230,810,756		56,025,352		14,285,015		2,429,782		303,550,905
Total	$	367,920,287	$	75,741,228	$	16,366,527	$	8,492,369	$	468,520,411

Financing Receivable, Past Due [Table Text Block]

The following tables present an age analysis of past due balances by loan category at June 30, 2020 and December 31, 2019:


	June 30, 2020
	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		Current		Total Loans Receivable
Residential Real Estate	$	—	$	107,237	$	1,233,577	$	1,340,814	$	83,523,567	$	84,864,381
Consumer	312,743		8,504		95,369		416,616		57,818,690		58,235,306
Commercial Business	79,696		26,902		932		107,530		23,896,257		24,003,787
Commercial Real Estate	2,019,784		364,649		754,100		3,138,533		308,836,917		311,975,450
PPP	—		—		—		—		72,672,428		72,672,428
Total	$	2,412,223	$	507,292	$	2,083,978	$	5,003,493	$	546,747,859	$	551,751,352


	December 31, 2019
	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		Current		Total Loans Receivable
Residential Real Estate	$	—	$	355,290	$	144,209	$	499,499	$	85,904,805	$	86,404,304
Consumer	422,443		217,542		81,736		721,721		55,609,292		56,331,013
Commercial Business	147,959		76,515		20,316		244,790		21,989,399		22,234,189
Commercial Real Estate	3,849,424		—		1,352,716		5,202,140		298,348,765		303,550,905
Total	$	4,419,826	$	649,347	$	1,598,977	$	6,668,150	$	461,852,261	$	468,520,411

Financing Receivable, Allowance for Credit Loss [Table Text Block]

The following tables present information related to impaired loans evaluated individually and collectively for impairment in the allowance for loan losses at the dates indicated:


	Allowance For Loan Losses
June 30, 2020	Individually Evaluated For Impairment		Collectively Evaluated For Impairment		Total
Residential Real Estate	$	—	$	1,532,804	$	1,532,804
Consumer	—		1,317,734		1,317,734
Commercial Business	—		639,731		639,731
Commercial Real Estate	—		7,186,002		7,186,002
Total	$	—	$	10,676,271	$	10,676,271


	Allowance For Loan Losses
December 31, 2019	Individually Evaluated For Impairment		Collectively Evaluated For Impairment		Total
Residential Real Estate	$	—	$	1,390,594	$	1,390,594
Consumer	—		1,210,849		1,210,849
Commercial Business	—		544,764		544,764
Commercial Real Estate	—		6,079,367		6,079,367
Total	$	—	$	9,225,574	$	9,225,574


	Loans Receivable
June 30, 2020	Individually Evaluated For Impairment		Collectively Evaluated For Impairment		Total
Residential Real Estate	$	1,816,520	$	83,047,861	$	84,864,381
Consumer	176,522		58,058,784		58,235,306
Commercial Business	55,446		23,948,341		24,003,787
Commercial Real Estate	1,502,437		310,473,013		311,975,450
PPP	—		72,672,428		72,672,428
Total	$	3,550,925	$	548,200,427	$	551,751,352

Because the SBA guarantees 100% of the PPP loans made to eligible borrowers, and the entire principal amount of these loans, including any accrued interest, is eligible to be forgiven and repaid by the SBA; PPP loans are excluded from our allowance for loan losses calculation.

8. Loans Receivable, Net, Continued


	Loans Receivable
December 31, 2019	Individually Evaluated For Impairment		Collectively Evaluated For Impairment		Total
Residential Real Estate	$	1,086,433	$	85,317,871	$	86,404,304
Consumer	184,402		56,146,611		56,331,013
Commercial Business	64,406		22,169,783		22,234,189
Commercial Real Estate	1,894,642		301,656,263		303,550,905
Total	$	3,229,883	$	465,290,528	$	468,520,411