Note 8 - Loans Receivable, Net (Tables)

6 Months Ended

Jun. 30, 2023

Notes Tables

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

	June 30, 2023		December 31, 2022
Real Estate Loans:
Construction	$	104,251,639	$	112,793,694
Residential Mortgage		145,685,427		110,056,973
Commercial		259,912,832		252,154,475
Commercial and Agricultural Loans		34,264,896		30,647,975
Consumer Loans:
Home Equity Lines of Credit (HELOC)		32,367,179		31,736,676
Other Consumer		24,841,816		23,598,110
Total Loans Held for Investment, Gross		601,323,789		560,987,903
Less:
Allowance for Credit Losses		12,283,325		11,177,753
Deferred Loan Fees		595,832		806,238
		12,879,157		11,983,991
Total Loans Receivable, Net	$	588,444,632	$	549,003,912

Financing Receivable Credit Quality Indicators [Table Text Block]

	Term Loans by Year of Origination
	2023		2022		2021		2020		2019		Prior		Revolving		Total
Real Estate - Construction
Pass	$	10,417,314	$	33,771,809	$	18,509,413	$	5,202,965	$	740,273	$	1,593,668	$	4,998,369	$	75,233,811
Caution		2,405,514		17,764,334		1,552,647		3,464,157		424,094		485,558		—		26,096,304
Special Mention		—		29,769		—		—		1,278,716		459,724		—		1,768,209
Substandard		—		—		251,769		139,799		643,260		118,487		—		1,153,315
Total		12,822,828		51,565,912		20,313,829		8,806,921		3,086,343		2,657,437		4,998,369		104,251,639
Current period gross write-offs		—		—		1,270		—		—		—		—		1,270
Real Estate - Mortgage
Pass		14,138,634		30,646,464		11,486,272		14,394,653		4,187,015		24,570,986		10,121,616		109,545,640
Caution		7,112,242		8,822,433		5,453,105		1,733,323		1,637,317		4,980,282		15,940		29,754,642
Special Mention		1,560,414		158,883		905,331		311,988		—		248,084		—		3,184,700
Substandard		—		—		625,439		-		50,342		2,524,664		—		3,200,445
Total		22,811,290		39,627,780		18,470,147		16,439,964		5,874,674		32,324,016		10,137,556		145,685,427
Current period gross write-offs		—		—		—		—		—		—		—		—
Real Estate - Commercial
Pass		7,539,285		46,985,388		51,586,533		13,254,437		24,446,966		55,660,664		2,320,461		201,793,734
Caution		7,819,570		5,013,012		4,382,223		6,596,059		7,131,281		16,734,598		—		47,676,743
Special Mention		212,500		840,401		461,021		464,443		236,435		3,276,765		99,811		5,591,376
Substandard		—		71,406		59,604		—		—		4,719,969		—		4,850,979
Total		15,571,355		52,910,207		56,489,381		20,314,939		31,814,682		80,391,996		2,420,272		259,912,832
Current period gross write-offs		—		—		—		—		—		—		—		—
Commercial and Agricultural
Pass		2,333,570		8,662,633		8,755,005		754,806		554,676		738,092		3,941,547		25,740,329
Caution		3,330,166		1,610,930		1,830,633		75,513		22,353		139,119		728,104		7,736,818
Special Mention		294,217		36,424		122,193		15,321		—		100,055		—		568,210
Substandard		—		22,108		15,998		10,716		12,903		70,914		86,900		219,539
Total		5,957,953		10,332,095		10,723,829		856,356		589,932		1,048,180		4,756,551		34,264,896
Current period gross write-offs		—		—		15,880		—		—		—		—		15,880
Home Equity Lines of Credit
Pass		—		—		—		—		—		—		26,752,709		26,752,709
Caution		—		—		—		—		—		—		4,512,811		4,512,811
Special Mention		—		—		—		—		—		—		450,225		450,225
Substandard		—		—		—		—		—		—		651,434		651,434
Total		—		—		—		—		—		—		32,367,179		32,367,179
Current period gross write-offs		—		—		—		—		—		—		1,488		1,488
Consumer loans
Pass		4,468,903		4,923,483		2,195,606		1,043,745		292,347		255,949		4,540,877		17,720,910
Caution		1,549,087		2,614,321		1,217,032		648,313		283,610		77,027		279,655		6,669,045
Special Mention		59,110		135,813		—		—		—		—		6,285		201,208
Substandard		—		35,355		109,256		55,737		28,165		7,321		14,819		250,653
Total		6,077,100		7,708,972		3,521,894		1,747,795		604,122		340,297		4,841,636		24,841,816
Current period gross write-offs		—		18,658		1,633		—		—		—		50,629		70,920
Total Loans	$	63,240,526	$	162,144,966	$	109,519,080	$	48,165,975	$	41,969,753	$	116,761,926	$	59,521,563	$	601,323,789

December 31, 2022	Pass		Caution		Special Mention		Substandard		Total Loans
Construction Real Estate	$	91,564,058	$	18,837,894	$	2,013,824	$	377,918	$	112,793,694
Residential Real Estate		84,028,037		22,372,649		887,874		2,768,413		110,056,973
Commercial Real Estate		196,063,300		47,821,422		3,270,916		4,998,837		252,154,475
Commercial and Agricultural		25,383,994		4,593,283		371,071		299,627		30,647,975
Consumer HELOC		25,693,252		5,018,419		401,550		623,455		31,736,676
Other Consumer		16,515,206		6,725,317		178,638		178,949		23,598,110
Total	$	439,247,847	$	105,368,984	$	7,123,873	$	9,247,199	$	560,987,903

Financing Receivable, Past Due [Table Text Block]

	June 30, 2023
	30-59 Days		60-89 Days		90 Days or		Total Past				Total Loans
	Past Due		Past Due		More Past Due		Due		Current		Receivable
Construction Real Estate	$	1,058,046	$	—	$	93,307	$	1,151,353	$	103,100,286	$	104,251,639
Residential Real Estate		464,531		1,107,561		266,093		1,838,185		143,847,242		145,685,427
Commercial Real Estate		1,056,783		20,376		416,813		1,493,972		258,418,860		259,912,832
Commercial and Agricultural		265,959		—		9,923		275,882		33,989,014		34,264,896
Consumer HELOC		182,090		30,293		78,064		290,447		32,076,732		32,367,179
Other Consumer		344,835		64,678		55,778		465,291		24,376,525		24,841,816
Total	$	3,372,244	$	1,222,908	$	919,978	$	5,515,130	$	595,808,659	$	601,323,789

	December 31, 2022
	30-59 Days		60-89 Days		90 Days or		Total Past				Total Loans
	Past Due		Past Due		More Past Due		Due		Current		Receivable
Construction Real Estate	$	—	$	—	$	100,472	$	100,472	$	112,693,222	$	112,793,694
Residential Real Estate		1,557,114		—		471,430		2,028,544		108,028,429		110,056,973
Commercial Real Estate		2,670,997		89,342		354,406		3,114,745		249,039,730		252,154,475
Commercial and Agricultural		5,683		2,113		55,468		63,264		30,584,711		30,647,975
Consumer HELOC		199,414		—		74,159		273,573		31,463,103		31,736,676
Other Consumer		271,774		78,566		17,321		367,661		23,230,449		23,598,110
Total	$	4,704,982	$	170,021	$	1,073,256	$	5,948,259	$	555,039,644	$	560,987,903

Financing Receivable, Nonaccrual [Table Text Block]

	CECL						Incurred Loss
	June 30, 2023						December 31, 2022
	Nonaccrual Loans		Nonaccrual Loans		Total
	with No Allowance		with an Allowance		Nonaccrual Loans		Nonaccrual Loans
Construction Real Estate	$	244,776	$	—	$	244,776	$	114,630
Residential Real Estate		1,327,575		—		1,327,575		1,544,762
Commercial Real Estate		4,373,266		—		4,373,266		4,281,975
Commercial and Agricultural		63,020		—		63,020		112,652
Consumer HELOC		467,365		—		467,365		188,540
Other Consumer		79,923		—		79,923		28,671
Total Nonaccrual Loans	$	6,555,925	$	—	$	6,555,925	$	6,271,230

Financing Receivable, Accrued Interest, Writeoff [Table Text Block]

	For the Three Months Ended
	June 30, 2023
Construction Real Estate	$	—
Residential Real Estate		5,783
Commercial Real Estate		1,461
Commercial and Agricultural		—
Consumer HELOC		66
Other Consumer		768
Total Loans	$	8,078

	For the Six Months Ended
	June 30, 2023
Construction Real Estate	$	2,882
Residential Real Estate		6,814
Commercial Real Estate		1,461
Commercial and Agricultural		1,103
Consumer HELOC		66
Other Consumer		911
Total Loans	$	13,237

	Six Months Ended June 30, 2023
	Allowance for Credit Losses - Unfunded Commitments
Beginning Balance	$	—
Adjustment to allowance for unfunded commitments for adoption of ASU 2016-13		1,213,614
Reversal of provision for unfunded commitments		(105,000	)
Ending Balance	$	1,108,614

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

	Three Months Ended June 30, 2023
	Real Estate										Consumer
								Commercial and
	Construction			Residential		Commercial		Agricultural			HELOC			Other			Total
Beginning Balance	$	2,345,958		$	3,072,377	$	4,263,822	$	1,130,753		$	671,526		$	642,374		$	12,126,810
Provision for credit losses		(149,018	)		182,914		158,167		(35,144	)		(20,087	)		24,168			161,000
Charge-Offs		(1,270	)		—		—		—			(1,488	)		(35,980	)		(38,738	)
Recoveries		5,180			5,600		5,017		6,461			4,327			7,668			34,253
Ending Balance	$	2,200,850		$	3,260,891	$	4,427,006	$	1,102,070		$	654,278		$	638,230		$	12,283,325

	Six Months Ended June 30, 2023
	Real Estate											Consumer
									Commercial and
	Construction			Residential		Commercial			Agricultural			HELOC			Other			Total
Beginning Balance	$	2,323,397		$	2,124,835	$	4,804,282		$	874,092		$	598,807		$	452,340		$	11,177,753
Adjustment to allowance for adoption of ASU 2016-13		263,737			461,879		(340,492	)		112,452			107,548			179,070			784,194
Provision for credit losses		(394,154	)		660,177		(46,817	)		119,645			(76,820	)		63,969			326,000
Charge-Offs		(1,270	)		—		—			(15,880	)		(1,488	)		(70,920	)		(89,558	)
Recoveries		9,140			14,000		10,033			11,761			26,231			13,771			84,936
Ending Balance	$	2,200,850		$	3,260,891	$	4,427,006		$	1,102,070		$	654,278		$	638,230		$	12,283,325

	Three Months Ended June 30, 2022
	Real Estate										Consumer
									Commercial and
	Construction			Residential		Commercial			Agricultural		HELOC		Other			Total
Beginning Balance	$	2,336,583		$	1,628,316	$	4,932,948		$	1,242,919	$	555,403	$	432,794		$	11,128,963
Provision for Loan Losses		(239,158	)		224,160		(227,132	)		159,404		46,567		36,159			—
Charge-Offs		—			—		—			—		—		(11,821	)		(11,821	)
Recoveries		6,961			18,220		30,498			1,495		4,877		18,761			80,812
Ending Balance	$	2,104,386		$	1,870,696	$	4,736,314		$	1,403,818	$	606,847	$	475,893		$	11,197,954

	Six Months Ended June 30, 2022
	Real Estate										Consumer
									Commercial and
	Construction			Residential		Commercial			Agricultural		HELOC		Other			Total
Beginning Balance	$	2,401,196		$	1,663,423	$	4,832,440		$	1,241,828	$	517,512	$	430,765		$	11,087,164
Provision for Loan Losses		(312,373	)		179,342		(145,605	)		137,162		81,749		59,725			—
Charge-Offs		—			—		—			—		—		(43,692	)		(43,692	)
Recoveries		15,563			27,931		49,479			24,828		7,586		29,095			154,482
Ending Balance	$	2,104,386		$	1,870,696	$	4,736,314		$	1,403,818	$	606,847	$	475,893		$	11,197,954

	Allowance For Loan Losses						Loans Receivable
December 31, 2022	Individually Evaluated For Impairment		Collectively Evaluated For Impairment		Total		Individually Evaluated For Impairment		Collectively Evaluated For Impairment		Total
Construction Real Estate	$	—	$	2,323,397	$	2,323,397	$	114,630	$	112,679,064	$	112,793,694
Residential Real Estate		—		2,124,835		2,124,835		1,089,308		108,967,665		110,056,973
Commercial Real Estate		—		4,804,282		4,804,282		4,281,702		247,872,773		252,154,475
Commercial and Agricultural		—		874,092		874,092		31,446		30,616,529		30,647,975
Consumer HELOC		—		598,807		598,807		48,792		31,687,884		31,736,676
Other Consumer		—		452,340		452,340		—		23,598,110		23,598,110
Total	$	—	$	11,177,753	$	11,177,753	$	5,565,878	$	555,422,025	$	560,987,903

	Three Months Ended June 30, 2023
	Allowance for Credit Losses - Unfunded Commitments
Beginning Balance	$	1,048,614
Provision for unfunded commitments		60,000
Ending Balance	$	1,108,614

Schedule of Amortized Cost Basis of Collateral Dependent Loans [Table Text Block]

	June 30, 2023
Construction Real Estate	$	104,977
Residential Real Estate		1,037,750
Commercial Real Estate		4,116,125
Commercial and Agricultural		31,446
Consumer HELOC		346,744
Total Loans	$	5,637,042

Impaired Financing Receivables [Table Text Block]

	December 31, 2022
	Recorded		Unpaid Principal		Related
Impaired Loans	Investment		Balance		Allowance
Construction Real Estate	$	114,630	$	114,630	$	—
Residential Real Estate		1,089,308		1,626,308		—
Commercial Real Estate		4,281,702		4,281,702		—
Commercial and Agricultural		31,446		926,446		—
Consumer HELOC		48,792		48,792		—
Other Consumer		—		—		—
Total	$	5,565,878	$	6,997,878	$	—

	Three Months Ended June 30,
	2022
	Average Recorded		Interest Income
Impaired Loans	Investment		Recognized
Construction Real Estate	$	117,739	$	—
Residential Real Estate		1,142,322		—
Commercial Real Estate		756,649		—
Commercial and Agricultural		31,446		—
Consumer HELOC		52,914		—
Other Consumer		—		—
Total	$	2,101,070	$	—

	Six Months Ended June 30,
	2022
	Average Recorded		Interest Income
Impaired Loans	Investment		Recognized
Construction Real Estate	$	118,503	$	—
Residential Real Estate		1,153,767		—
Commercial Real Estate		762,720		—
Commercial and Agricultural		31,446		—
Consumer HELOC		53,463		—
Other Consumer		—		—
Total	$	2,119,899	$	—