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Investment and Mortgage-Backed Securities, Available for Sale (Tables)
 9 Months Ended
Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
Schedule of Available for Sale Securities
The amortized cost, gross unrealized gains, gross unrealized losses, and fair values of investment and mortgage-backed securities available for sale at the dates indicated were as follows:
 September 30, 2020
 Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Student Loan Pools$60,858,231 $78,338 $855,725 $60,080,844 
Small Business Administration (“SBA”) Bonds122,923,679 742,872 755,980 122,910,571 
Tax Exempt Municipal Bonds38,897,580 5,318,422 — 44,216,002 
Taxable Municipal Bonds34,556,245 1,461,885 77,571 35,940,559 
Mortgage-Backed Securities230,490,030 11,657,846 526,563 241,621,313 
State Tax Credit33,034 — — 33,034 
Total Available For Sale$487,758,799 $19,259,363 $2,215,839 $504,802,323 
 December 31, 2019
 Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Student Loan Pools$41,088,231 $— $856,401 $40,231,830 
SBA Bonds111,927,938 622,105 656,944 111,893,099 
Tax Exempt Municipal Bonds43,153,086 4,088,408 — 47,241,494 
Taxable Municipal Bonds15,169,737 35,359 364,686 14,840,410 
Mortgage-Backed Securities197,356,288 3,664,621 582,902 200,438,007 
Total Available For Sale$408,695,280 $8,410,493 $2,460,933 $414,644,840 
Schedule of Available For Sale Securities, Contractual Maturities
September 30, 2020
Investment Securities:Amortized CostFair Value
One Year or Less$60,171 $60,109 
After One – Five Years8,025,400 8,065,220 
After Five – Ten Years71,342,787 71,793,462 
More Than Ten Years177,840,411 183,262,219 
Mortgage-Backed Securities230,490,030 241,621,313 
Total Available For Sale$487,758,799 $504,802,323 
Schedule of Temporarily Impaired Securities, Fair Value and Unrealized Losses
The following tables show gross unrealized losses and fair value, aggregated by investment category, and length of time that the individual available for sale securities were in a continuous unrealized loss position at the dates indicated.
 September 30, 2020
 Less than 12 Months12 Months or MoreTotal
 Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Student Loan Pools$20,322,079 $118,672 $31,535,549 $737,053 $51,857,628 $855,725 
SBA Bonds28,485,792 278,475 46,773,155 477,505 75,258,947 755,980 
Taxable Municipal Bonds7,093,640 77,571 — — 7,093,640 77,571 
Mortgage-Backed Securities26,835,843 482,388 9,518,832 44,175 36,354,675 526,563 
 $82,737,354 $957,106 $87,827,536 $1,258,733 $170,564,890 $2,215,839 
6. Investment and Mortgage-Backed Securities, Available For Sale, Continued
 December 31, 2019
 Less than 12 Months12 Months or MoreTotal
 Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Student Loan Pools$30,079,497 $534,048 $10,152,333 $322,353 $40,231,830 $856,401 
SBA Bonds13,844,666 106,110 47,395,036 550,834 61,239,702 656,944 
Taxable Municipal Bond13,810,279 364,686 — — 13,810,279 364,686 
Mortgage-Backed Securities55,326,064 480,958 7,975,863 101,944 63,301,927 582,902 
 $113,060,506 $1,485,802 $65,523,232 $975,131 $178,583,738 $2,460,933