Note 3 - Investment Securities (Tables)

12 Months Ended

Dec. 31, 2018

Notes Tables

Amortized cost and fair value of investment securities

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gains		(Losses)		Value
December 31, 2018:
Securities HTM:
Municipal securities	$	400,862,885	$	5,661,095	$	(6,802,765)	$	399,721,215
Other securities		1,050,000		—		(632)		1,049,368
	$	401,912,885	$	5,661,095	$	(6,803,397)	$	400,770,583
Securities AFS:
U.S. govt. sponsored agency securities	$	37,150,434	$	38,620	$	(777,663)	$	36,411,391
Residential mortgage-backed and related securities		163,697,973		181,868		(4,630,581)		159,249,260
Municipal securities		59,069,259		179,748		(702,985)		58,546,022
Other securities		6,754,164		100,700		(5,089)		6,849,775
	$	266,671,830	$	500,936	$	(6,116,318)	$	261,056,448

			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
December 31, 2018:
Securities HTM:
Municipal securities	$	114,200,687	$	(2,186,574)	$	69,412,341	$	(4,616,191)	$	183,613,028	$	(6,802,765)
Other securities		549,368		(632)		—		—		549,368		(632)
	$	114,750,055	$	(2,187,206)	$	69,412,341	$	(4,616,191)	$	184,162,396	$	(6,803,397)
Securities AFS:
U.S. govt. sponsored agency securities	$	1,565,136	$	(33,278)	$	29,605,388	$	(744,385)	$	31,170,524	$	(777,663)
Residential mortgage-backed and related securities		12,809,544		(147,592)		133,533,963		(4,482,989)		146,343,507		(4,630,581)
Municipal securities		28,356,204		(394,235)		15,932,376		(308,750)		44,288,580		(702,985)
Other securities		4,249,075		(5,089)		—				4,249,075		(5,089)
	$	46,979,959	$	(580,194)	$	179,071,727	$	(5,536,124)	$	226,051,686	$	(6,116,318)

	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

	2018		2017		2016
Proceeds from sales of securities	$	1,938,043	$	71,091,580	$	134,188,737
Gross gains from sales of securities		—		67,351		4,845,009
Gross losses from sales of securities		—		(155,236)		(252,611)

Investments classified by maturity date

	Amortized Cost		Fair Value
Securities HTM:
Due in one year or less	$	2,232,726	$	2,237,767
Due after one year through five years		27,569,566		27,716,775
Due after five years		372,110,593		370,816,041
	$	401,912,885	$	400,770,583
Securities AFS:
Due in one year or less	$	2,665,560	$	2,665,829
Due after one year through five years		29,140,442		28,856,751
Due after five years		71,167,855		70,284,608
		102,973,857		101,807,188
Residential mortgage-backed and related securities		163,697,973		159,249,260
	$	266,671,830	$	261,056,448

Schedule of investment in callable securities

	Amortized Cost		Fair Value
Securities HTM:
Municipal securities	$	209,953,250	$	208,366,466
Securities AFS:
U.S. govt. sponsored agency securities		4,999,072		4,918,050
Municipal securities		49,715,648		49,110,178
Other securities		6,505,918		6,602,900
	$	61,220,638	$	60,631,128