Note 2 - Investment Securities (Tables)

6 Months Ended

Jun. 30, 2018

Notes Tables

Amortized cost and fair value of investment securities

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		(Losses)		Value
June 30, 2018:
Securities HTM:
Municipal securities	$	399,002,344	$	4,916,288	$	(7,700,914)	$	396,217,718
Other securities		1,050,000		—		(15,350)		1,034,650
	$	400,052,344	$	4,916,288	$	(7,716,264)	$	397,252,368
Securities AFS:
U.S. govt. sponsored agency securities	$	36,767,888	$	7,872	$	(1,109,224)	$	35,666,536
Residential mortgage-backed and related securities		164,791,715		49,915		(6,307,182)		158,534,448
Municipal securities		60,160,248		221,112		(874,093)		59,507,267
Other securities		4,254,509		—		(18,089)		4,236,420
	$	265,974,360	$	278,899	$	(8,308,588)	$	257,944,671

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		(Losses)		Value
December 31, 2017:
Securities HTM:
Municipal securities	$	378,424,205	$	2,763,718	$	(2,488,119)	$	378,699,804
Other securities		1,050,000		—		—		1,050,000
	$	379,474,205	$	2,763,718	$	(2,488,119)	$	379,749,804
Securities AFS:
U.S. govt. sponsored agency securities	$	38,409,157	$	37,344	$	(349,967)	$	38,096,534
Residential mortgage-backed and related securities		165,459,470		155,363		(2,313,529)		163,301,304
Municipal securities		66,176,364		660,232		(211,100)		66,625,496
Other securities		4,014,004		896,384		(25,815)		4,884,573
	$	274,058,995	$	1,749,323	$	(2,900,411)	$	272,907,907

Securities have been in a continuous unrealized loss position

	Less than 12 Months				12 Months or More				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
June 30, 2018:
Securities HTM:
Municipal securities	$	140,257,617	$	(3,873,043)	$	61,121,755	$	(3,827,871)	$	201,379,372	$	(7,700,914)
Other securities		1,034,649		(15,350)		—		—		1,034,649		(15,350)
	$	141,292,266	$	(3,888,393)	$	61,121,755	$	(3,827,871)	$	202,414,021	$	(7,716,264)
Securities AFS:
U.S. govt. sponsored agency securities	$	31,724,483	$	(928,027)	$	3,532,286	$	(181,197)	$	35,256,769	$	(1,109,224)
Residential mortgage-backed and related securities		93,074,220		(3,402,034)		59,724,819		(2,905,148)		152,799,039		(6,307,182)
Municipal securities		36,033,296		(648,203)		7,706,943		(225,890)		43,740,239		(874,093)
Other securities		4,236,420		(18,089)		—		—		4,236,420		(18,089)
	$	165,068,419	$	(4,996,353)	$	70,964,048	$	(3,312,235)	$	236,032,467	$	(8,308,588)

	Less than 12 Months				12 Months or More				Total
			Gross				Gross				Gross
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Losses		Value		Losses		Value		Losses
December 31, 2017:
Securities HTM:
Municipal securities	$	23,750,826	$	(354,460)	$	72,611,780	$	(2,133,659)	$	96,362,606	$	(2,488,119)
Securities AFS:
U.S. govt. sponsored agency securities	$	28,576,258	$	(200,022)	$	3,640,477	$	(149,945)	$	32,216,735	$	(349,967)
Residential mortgage-backed and related securities		88,927,779		(871,855)		57,931,731		(1,441,674)		146,859,510		(2,313,529)
Municipal securities		10,229,337		(41,151)		9,997,433		(169,949)		20,226,770		(211,100)
Other securities		923,535		(25,815)		—		—		923,535		(25,815)
	$	128,656,909	$	(1,138,843)	$	71,569,641	$	(1,761,568)	$	200,226,550	$	(2,900,411)

Realized gain (loss) on investments

	Three and Six Months Ended
	June 30, 2017
Proceeds from sales of securities	$	13,554,075
Gross gains from sales of securities		59,568
Gross losses from sales of securities		(21,104)

Investments classified by maturity date

	Amortized Cost		Fair Value
Securities HTM:
Due in one year or less	$	1,732,495	$	1,737,807
Due after one year through five years		25,021,326		25,051,928
Due after five years		373,298,523		370,462,633
	$	400,052,344	$	397,252,368
Securities AFS:
Due in one year or less	$	2,882,932	$	2,891,934
Due after one year through five years		25,265,433		24,969,540
Due after five years		73,034,280		71,548,749
		101,182,645		99,410,223
Residential mortgage-backed and related securities		164,791,715		158,534,448
	$	265,974,360	$	257,944,671

Schedule of investment in callable securities

	Amortized Cost		Fair Value
Securities HTM:
Municipal securities	$	232,556,893	$	230,900,385
Securities AFS:
U.S. govt. sponsored agency securities		4,998,914		4,873,050
Municipal securities		52,730,591		51,992,220
	$	57,729,505	$	56,865,270