Farmers and Merchants Bancshares (FMFG) 10-K 21 Mar 19 2018 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Feb. 28, 2019	Jun. 30, 2018
Document Information [Line Items]
Entity Registrant Name	Farmers & Merchants Bancshares, Inc.
Entity Central Index Key	0001698022
Trading Symbol	fmfg
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding (in shares)		1,682,997
Entity Public Float			$ 48,206,693
Entity Shell Company	false
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Cash and due from banks	$ 11,480,608	$ 6,235,186
Federal funds sold and other interest-bearing deposits	3,137,629	1,002,199
Cash and cash equivalents	14,618,237	7,237,385
Certificate of deposit in other bank	100,000	100,000
Securities available for sale	26,591,991	27,929,510
Securities held to maturity	18,127,067	18,204,182
Equity security at fair value	503,827	503,881
Federal Home Loan Bank stock, at cost	575,800	1,063,600
Mortgage loans held for sale	573,638	327,700
Loans, less allowance for loan losses of $2,509,334 and $2,458,911	340,900,635	332,533,706
Premises and equipment	5,075,310	5,206,271
Accrued interest receivable	990,529	1,020,256
Deferred income taxes	1,179,454	998,032
Other real estate owned	210,150	265,500
Bank owned life insurance	7,053,354	6,891,590
Other assets	657,885	622,856
	417,157,877	402,904,469
Deposits:
Noninterest-bearing	62,717,520	64,403,133
Interest-bearing	291,995,483	255,393,291
Total deposits	354,713,003	319,796,424
Securities sold under repurchase agreements	11,012,000	21,768,507
Federal Home Loan Bank of Atlanta advances	3,000,000	17,000,000
Accrued interest payable	311,489	180,620
Other liabilities	2,726,678	2,359,986
	371,763,170	361,105,537
Stockholders' equity:
Common stock, par value $.01 per share, authorized 5,000,000 shares; issued and outstanding 1,682,997 shares in 2018 and 1,667,813 shares in 2017	16,830	16,678
Additional paid-in capital	27,324,794	26,869,796
Retained earnings	18,621,382	15,306,625
Accumulated other comprehensive loss	(568,299)	(394,167)
	45,394,707	41,798,932
	$ 417,157,877	$ 402,904,469

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Allowance for loan losses	$ 2,509,334	$ 2,458,911
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, share authorized (in shares)	5,000,000	5,000,000
Common stock, share issued (in shares)	1,682,997	1,667,813
Common stock, share outstanding (in shares)	1,682,997	1,667,813

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Interest income:
Loans, including fees	$ 16,401,554	$ 15,189,238
Investment securities - taxable	610,951	710,438
Investment securities - tax exempt	570,529	597,919
Federal funds sold and other interest earning assets	185,299	97,208
Total interest income	17,768,333	16,594,803
Interest expense:
Deposits	2,225,616	1,378,308
Securities sold under repurchase agreements	144,881	161,914
Federal Home Loan Bank advances and other borrowings	136,744	167,018
Total interest expense	2,507,241	1,707,240
Net interest income	15,261,092	14,887,563
Provision for loan losses	475,000	410,000
Net interest income after provision for loan losses	14,786,092	14,477,563
Noninterest income:
Mortgage banking income	271,767	279,364
Bank owned life insurance income	161,764	170,588
Unrealized loss on equity security	(11,429)
Write down of other real estate owned	(55,350)	(148,500)
Gain on sale of SBA loans	226,026	223,251
Total noninterest income	1,365,273	1,337,094
Noninterest expense:
Salaries	5,194,871	4,931,432
Employee benefits	1,313,392	1,289,263
Occupancy	706,193	684,173
Furniture and equipment	632,330	644,576
Other	2,485,694	2,473,658
Total noninterest expense	10,332,480	10,023,102
Income before income taxes	5,818,885	5,791,555
Income taxes	1,106,209	2,002,314
Net income	$ 4,712,676	$ 3,789,241
Earnings per share - basic and diluted (in dollars per share)	$ 2.82	$ 2.28
Deposit Account [Member]
Noninterest income:
Noninterest revenue	$ 670,653	$ 700,791
Financial Service, Other [Member]
Noninterest income:
Noninterest revenue	$ 101,842	$ 111,600

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Net income	$ 4,712,676	$ 3,789,241
Securities available for sale
Net unrealized loss arising during the period	(254,609)	(81,019)
Income tax benefit	70,061	31,958
Total other comprehensive loss	(184,548)	(49,061)
Total comprehensive income	$ 4,528,128	$ 3,740,180

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2016	1,656,390
Balance at Dec. 31, 2016	$ 16,564	$ 26,562,919	$ 12,713,099	$ (280,305)	$ 39,012,277
Net income			3,789,241		3,789,241
Unrealized gain (loss) on securities available for sale net of income tax expense (benefit)				(49,061)	(49,061)
Reclassification due to adoption of ASU No. 2018-02 | Accounting Standards Update 2018-02 [Member]			64,801	(64,801)
Cash dividends			(1,260,516)		(1,260,516)
Dividends reinvested (in shares)	11,423
Dividends reinvested	$ 114	306,877			306,991
Balance (in shares) at Dec. 31, 2017	1,667,813
Balance at Dec. 31, 2017	$ 16,678	26,869,796	15,306,625	(394,167)	41,798,932
Net income			4,712,676		4,712,676
Unrealized gain (loss) on securities available for sale net of income tax expense (benefit)				(184,548)	(184,548)
Reclassification due to adoption of ASU No. 2018-02 | Accounting Standards Update 2016-01 [Member]			(10,416)	10,416
Cash dividends			(1,387,503)		(1,387,503)
Dividends reinvested (in shares)	15,134
Dividends reinvested	$ 151	453,449			453,600
Reclassification due to adoption of ASU No. 2016-01 | Accounting Standards Update 2016-01 [Member]			(10,416)	10,416
Shares issued (in shares)	50
Shares issued	$ 1	1,549			1,550
Balance (in shares) at Dec. 31, 2018	1,682,997
Balance at Dec. 31, 2018	$ 16,830	$ 27,324,794	$ 18,621,382	$ (568,299)	$ 45,394,707

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Unrealized gain (loss) on securities available for sale, tax expense (benefit)	$ (70,061)	$ (31,958)
Cash dividends (in dollars per share)	$ 0.83	$ 0.76

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities
Interest received	$ 17,714,259	$ 16,646,808
Fees and commissions received	1,044,262	1,093,256
Interest paid	(2,376,372)	(1,668,523)
Proceeds from sale of mortgage loans held for sale	13,093,197	13,063,992
Origination of mortgage loans held for sale	(13,339,135)	(12,507,192)
Cash paid to suppliers and employees	(9,372,508)	(7,773,163)
Income taxes paid	(1,399,920)	(1,170,196)
Cash provided by operating activities	5,363,783	7,684,982
Cash flows from investing activities
Available for sale	(4,943,748)	(6,854,680)
Held to maturity	223,000	1,612,309
Available for sale	(4,007,664)	(1,132,224)
Held to maturity	(122,313)	(1,805,924)
Loans made to customers, net of principal collected	(11,427,440)	(40,409,645)
Proceeds from sale of SBA loans	2,883,963	2,849,724
Redemption (purchase) of stock in FHLB of Atlanta	487,800	(285,300)
Purchases of premises, equipment and software	(191,744)	(114,243)
Cash used by investing activities	(7,210,650)	(32,430,623)
Cash flows from financing activities
Net increase (decrease) in Noninterest-bearing deposits	(1,685,613)	1,611,298
Interest-bearing deposits	36,602,192	15,469,990
Securities sold under repurchase agreements	(10,756,507)	(5,457,652)
Federal Home Loan Bank of Atlanta advances	(14,000,000)	8,000,000
Dividends paid, net of reinvestments	(933,903)	(953,525)
Common stock issued	1,550
Cash provided by financing activities	9,227,719	18,670,111
Net increase (decrease) in cash and cash equivalents	7,380,852	(6,075,530)
Cash and cash equivalents at beginning of period	7,237,385	13,312,915
Cash and cash equivalents at end of period	14,618,237	7,237,385
Reconciliation of net income to net cash provided by operating activities
Net income	4,712,676	3,789,241
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	380,461	419,281
Provision for loan losses	475,000	410,000
Write down of other real estate owned	55,350	148,500
Write down of other assets	4,500	1,500
Equity security dividends reinvested	(11,375)	(10,740)
Unrealized loss on equity security	11,429
Gain on sale of SBA loans	(226,026)	(223,251)
Deferred income taxes	(111,360)	(347,446)
Revaluation of deferred tax asset due to change in corporate income tax rate		410,391
Amortization of premiums and accretion of discounts, net	123,253	136,874
Increase (decrease) in
Deferred loan fees	(72,426)	126,038
Accrued interest payable	130,869	38,717
Other liabilities	366,692	624,102
Decrease (increase) in
Mortgage loans held for sale	(245,938)	556,800
Accrued interest receivable	29,727	(63,293)
Bank owned life insurance cash surrender value	(161,764)	(170,588)
Other assets	(97,285)	1,838,855
Cash provided by operating activities	$ 5,363,783	$ 7,684,982

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. Summary of Significant Accounting Policies The accounting and reporting policies reflected in the financial statements conform to accounting principles generally accepted in the United States of America and to general practices within the banking industry. Management makes estimates and assumptions that affect the reported amounts of assets, liabilities, and disclosures of commitments and contingent liabilities at the balance sheet date, and revenues and expenses during the year. These estimates and assumptions may Principles of consolidation The consolidated financial statements include the accounts of Farmers and Merchants Bancshares, Inc. and its wholly owned subsidiaries, Farmers and Merchants Bank (the “Bank”), and Series Protected Cell FCB- 4 one 100% Business Farmers and Merchants Bank provides banking services to individuals and businesses located in Baltimore County, Maryland, Carroll County, Maryland and surrounding areas of northern Maryland. The Insurance Subsidiary is a captive insurance entity that provides insurance coverage for Farmers and Merchants Bank. Reliable Community Financial Services, Inc. is licensed to provide a wide range of investment and insurance products to its customers, but is inactive. Reclassifications Certain reclassifications have been made to the 2017 no Cash and cash equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, money market funds, and federal funds sold. Generally, federal funds are purchased and sold for one Comprehensive income Comprehensive income includes net income and the unrealized gains or losses on investment securities available for sale, net of income taxes. Investment securities As securities are purchased, management determines if the securities should be classified as held to maturity or available for sale. Securities which management has the intent and ability to hold to maturity are recorded at amortized cost, which is cost adjusted for amortization of premiums and accretion of discounts. Discounts are accreted through maturity. Premiums are amortized through the earliest call date. Securities held to meet liquidity needs or which may Equity security at fair value On January 1, 2018, $10,416 $10,416 December 31, 2018. Federal Home Loan Bank stock As a member of the Federal Home Loan Bank of Atlanta (the “FHLB”), the Bank is required to purchase FHLB stock in an amount that is based on the Bank’s total assets. Additional stock is purchased and redeemed based on the outstanding FHLB advances to the Bank. The stock is recorded at cost on the balance sheet. Loans and allowance for loan losses Loans are stated at the current amount of unpaid principal, adjusted for deferred origination costs, deferred origination fees, and the allowance for loan losses. Interest on loans is accrued based on the principal amounts outstanding. Origination fees and costs are amortized to income over the terms of loans. Past due status is based on the contractual terms of the loan. Management may 90 not The allowance for loan losses represents an amount which, in management’s judgment, will be adequate to absorb probable losses on existing loans and other extensions of credit that may three The allowances established for probable losses on impaired loans are based on a regular analysis and evaluation of problem loans. Management maintains a watch list of problem loans. Loans are classified based on an internal credit risk grading process that evaluates, among other things: (i) the obligor's ability to repay; (ii) the underlying collateral, if any; (iii) the economic environment; and (iv) for commercial borrowers, the industry in which the borrower operates. Specific valuation allowances are determined when the collateral value, if the loan is collateral dependent, or the discounted cash flows of the impaired loan is lower than the carrying value. Historical valuation allowances are calculated based on the historical loss experience of specific types of loans. The Company calculates historical loss ratios for pools of similar loans with similar characteristics based on the proportion of actual charge-offs experienced to the total population of loans in the pool over the prior eight twenty December 31, 2018 2017, twenty Adjustments to the historical valuation allowances are based on general economic conditions and other qualitative risk factors both internal and external to the Company. In general, such adjustments are determined by evaluating, among other things: (i) the impact of economic conditions on the portfolio; (ii) changes in asset quality, including delinquency trends; (iii) the impact of changing interest rates on portfolio risk; (iv) changes in legislative and regulatory policy; (v) the composition and concentrations of credit; and (vi) the effectiveness of the internal loan review function as well as changes to policies and experience of loan personnel. Management evaluates these qualitative factors on a quarterly basis. Each factor could result in an adjustment that is positive, negative, or no Loan losses are charged to the allowance when management believes that collection is unlikely. Collections of loans previously charged off are added to the allowance at the time of recovery. Mortgage l oans held for sale and mortgage banking income Mortgage loans held for sale are carried at the lower of aggregate cost or fair value based on the current fair value of each outstanding loan. Sales of loans are recorded when the proceeds are received, with any gain or loss recorded in mortgage banking income. The Company sells its mortgage loans to third no third not third Premises and equipment Land is carried at cost. Premises and equipment are recorded at cost less accumulated depreciation and amortization. Depreciation on buildings and equipment is computed over the estimated useful lives of the assets using the straight-line method. Leasehold improvements are amortized using the straight-line method over the term of the lease or the estimated useful lives of the asset, whichever is shorter. Other real estate owned Real estate acquired through foreclosure or by deed in lieu of foreclosure is recorded at the lower of cost or fair value less estimated costs to sell on the date acquired. Losses incurred at the time of acquisition of the property are charged to the allowance for loan losses. Subsequent reductions in the estimated value of the property are included with any gains or losses on sale in noninterest income. Bank owned life insurance The Company has purchased life insurance policies on certain key executives. Company owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. Revenue Recognition On January 1, 2018, 2014 09 no Income taxes The provision for income taxes includes income taxes payable for the current year and deferred income taxes. Deferred tax assets and liabilities are determined based on the difference between the financial statement bases and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. A tax position is recognized as a benefit only if it is “more likely than not” 50% not not” no Per share data Earnings per share are determined by dividing net income by the weighted average number of shares of common stock outstanding, giving retroactive effect to any stock dividends. Weighted average shares were 1,671,789 1,658,384 2018 2017, no December 31, 2018 2017. Subsequent events The Company has evaluated events and transactions occurring subsequent to the statement of financial condition date of December 31, 2018 855,

Note 2 - Cash and Cash Equivale

Note 2 - Cash and Cash Equivalents	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Cash and Cash Equivalents Disclosure [Text Block]	2. Cash and Cash Equivalents The Company normally carries balances with other banks that exceed the federally insured limit. The average balance carried in excess of the limit, including unsecured federal funds sold to the same banks, was $ 5,349,977 $5,991,573 December 31, 2018 2017, Deposits held in noninterest-bearing transaction accounts are aggregated with any interest-bearing deposits the owner may $250,000. Banks are required to carry noninterest-bearing cash reserves of specified percentages of deposit balances. The Company's normal balances of cash on hand and on deposit with other banks are sufficient to satisfy the reserve requirements.

Note 3 - Investment Securities

Note 3 - Investment Securities	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	3. Investment Securities Investment securities are summarized as follows: Amortized Unrealized Unrealized Fair December 31, 2018 cost gains losses value Available for sale State and municipal $ 1,506,011 $ 11,161 $ 10,667 $ 1,506,505 SBA pools 2,779,411 - 60,039 2,719,372 Mortgage-backed securities 23,090,618 33,594 758,098 22,366,114 $ 27,376,040 $ 44,755 $ 828,804 $ 26,591,991 Held to maturity State and municipal $ 18,127,067 $ 115,220 $ 209,194 $ 18,033,093 December 31, 2017 Available for sale State and municipal $ 1,510,848 $ 38,494 $ 10,135 $ 1,539,207 SBA pools 3,212,771 75 13,000 3,199,846 Mortgage-backed securities 23,735,332 8,787 553,662 23,190,457 $ 28,458,951 $ 47,356 $ 576,797 $ 27,929,510 Held to maturity State and municipal $ 18,204,182 $ 225,349 $ 121,904 $ 18,307,627 Contractual maturities, shown below, will differ from actual maturities because borrowers and issuers may Available for Sale Held to Maturity Amortized Fair Amortized Fair December 31, 2018 cost value cost value Within one year $ 375,000 $ 375,653 $ 1,009,284 $ 1,011,165 Over one to five years 260,587 249,920 590,522 598,528 Over five to ten years 870,424 880,932 1,858,695 1,876,364 Over ten years - - 14,668,566 14,547,036 1,506,011 1,506,505 18,127,067 18,033,093 Mortgage-backed securities and SBA pools, due in monthly installments 25,870,029 25,085,486 - - $ 27,376,040 $ 26,591,991 $ 18,127,067 $ 18,033,093 December 31, 2017 Within one year $ - $ - $ 165,677 $ 168,260 Over one to five years - - 780,336 794,512 Over five to ten years 1,133,940 1,150,564 1,792,019 1,831,833 Over ten years 376,908 388,643 15,466,150 15,513,022 1,510,848 1,539,207 18,204,182 18,307,627 Mortgage-backed securities and SBA pools, due in monthly installments 26,948,103 26,390,303 - - $ 28,458,951 $ 27,929,510 $ 18,204,182 $ 18,307,627 Securities with a carrying value of $ 11,706,765 $31,982,381 December 31, 2018 2017, In 2018 2017, no The following table sets forth the Company's gross unrealized losses on a continuous basis for investment securities, by category and length of time. December 31, 2018 Less than 12 months 12 months or more Total Unrealized Unrealized Unrealized Description of investments Fair value losses Fair value losses Fair value losses State and municipal $ 3,435,052 $ 42,080 $ 3,740,467 $ 177,781 $ 7,175,519 $ 219,861 SBA pools 443,288 6,707 2,276,084 53,332 2,719,372 60,039 Mortgage-backed securities 596,002 6,631 17,770,790 751,467 18,366,792 758,098 Total $ 4,474,342 $ 55,418 $ 23,787,341 $ 982,580 $ 28,261,683 $ 1,037,998 December 31, 2017 Less than 12 months 12 months or more Total Unrealized Unrealized Unrealized Description of investments Fair value losses Fair value losses Fair value losses State and municipal $ 812,630 $ 1,519 $ 3,444,443 $ 130,520 $ 4,257,073 $ 132,039 SBA pools 551,780 1,903 2,109,832 11,097 2,661,612 13,000 Mortgage-backed securities 2,871,597 41,413 19,571,511 512,249 22,443,108 553,662 Total $ 4,236,007 $ 44,835 $ 25,125,786 $ 653,866 $ 29,361,793 $ 698,701 Management has the ability and intent to hold securities classified as held to maturity until they mature, at which time the Company should receive full value for the securities. As of December 31, 2018, not December 31, 2018, none

Note 4 - Related Party Transact

Note 4 - Related Party Transactions	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	4. Related Party Transactions Certain executive officers and directors of the Company, including members of their immediate families and companies in which they are significant owners (more than 10% not December 31, 2018 2017, 2018 2017 Balance, beginning of year $ 15,577,316 $ 12,782,233 Additions 2,069,000 5,921,920 Amounts collected (2,669,653 ) (3,126,837 ) Change in related parties (1,021,566 ) - Balance, end of year $ 13,955,097 $ 15,577,316 Unused lines of credit to related parties totaled $ 634,724 $746,842 December 31, 2018 2017, $0 $6,534 December 31, 2018 2017, Deposits at the Company from related parties totaled $ 14,665,18 3 $18,592,732 December 31, 2018 2017, Payments to companies controlled by directors totaled $ 4,144 2018 $10,278 2017.

Note 5 - Loans

Note 5 - Loans	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	5. Loans Major categories of loans at December 31, 2018 2017 2018 2017 Real estate: Commercial $ 238,834,149 $ 234,026,574 Construction and land development 18,265,505 18,160,366 Residential 63,024,106 59,241,416 Commercial 23,323,073 23,613,543 Consumer 494,009 554,017 343,940,842 335,595,916 Less: Allowance for loan losses 2,509,334 2,458,911 Deferred origination fees net of costs 530,873 603,299 $ 340,900,635 $ 332,533,706 The maturity and rate repricing distribution of the loan portfolio as of December 31, 2018 2017, 2018 2017 Variable rate, immediately $ 65,523,966 $ 55,901,161 Due within one year 42,060,188 42,042,744 Due over one to five years 153,190,636 136,475,036 Due over five years 83,166,052 101,176,975 $ 343,940,842 $ 335,595,916 Year-end nonaccrual loans, segregated by class of loans, were as follows: 2018 2017 Commercial real estate $ 988,811 $ 2,245,743 At December 31, 2018, two $ 9 88,811 $ 115,168 2018 $ 0 $ 690 ,000 December 31, 2018. At December 31, 2017, one $2,245,743. $82,070 2017 $127,213 $275,000 December 31, 2017. 2018 $197,660. An age analysis of past due loans, segregated by class of loans, as of year-end, is as follows: 90 Days Past Due 90 30 - 59 Days 60 - 89 Days or More Total Total Days or More Past Due Past Due Past Due Past Due Current Loans and Accruing December 31, 2018 Real estate: Commercial $ - $ - $ 988,811 $ 988,811 $ 237,845,338 $ 238,834,149 $ - Construction and land development - - - - 18,265,505 18,265,505 - Residential - - 10,507 10,507 63,013,599 63,024,106 10,507 Commercial - 25,000 - 25,000 23,298,073 23,323,073 - Consumer - - - - 494,009 494,009 - Total $ - $ 25,000 $ 999,318 $ 1,024,318 $ 342,916,524 $ 343,940,842 $ 10,507 December 31, 2017 Real estate: Commercial $ - $ - $ 2,245,743 $ 2,245,743 $ 231,780,831 $ 234,026,574 $ - Construction and land development - - - - 18,160,366 18,160,366 - Residential - - 146,459 146,459 59,094,957 59,241,416 146,459 Commercial - - - - 23,613,543 23,613,543 - Consumer - - - - 554,017 554,017 - Total $ - $ - $ 2,392,202 $ 2,392,202 $ 333,203,714 $ 335,595,916 $ 146,459 Year-end impaired loans, segregated by class of loans, are set forth in the following table: Unpaid Recorded Recorded Contractual Investment Investment Total Average Principal With No With Recorded Related Recorded Interest Balance Allowance Allowance Investment Allowance Investment Recognized December 31, 2018 Commercial real estate $ 3,867,381 $ 3,177,381 $ - $ 3,177,381 $ - $ 4,180,282 $ 120,193 December 31, 2017 Commercial real estate $ 5,458,182 $ 2,937,439 $ 2,245,743 $ 5,183,182 $ 127,213 $ 2,591,591 $ 268,652 Impaired loans include certain loans that have been modified in troubled debt restructurings (“TDRs”) where economic concessions have been granted to borrowers who have experienced or are expected to experience financial difficulties. These concessions typically result from the Company's loss mitigation activities and could include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance, or other actions. Certain TDRs are classified as nonperforming at the time of restructure and may six At December 31, 2018, one $2, 134,570 one $54,000 $54,000 2018. no two At December 31, 2017, three $2,937,439 Two $774,274 2017. 2018. no three As part of our portfolio risk management, the Company assigns a risk grade to each loan. The factors used to determine the grade are the payment history of the loan and the borrower, the value of the collateral and net worth of the guarantor, and cash flow projections of the borrower. Excellent, Above Average, Average and Acceptable grades are assigned to loans with limited or no A description of the general characteristics of loans characterized as watch list or classified is as follows: Pass/Watch Loans graded as Pass/Watch are secured by generally acceptable assets which reflect above-average risk. The loans warrant closer scrutiny by management than is routine, due to circumstances affecting the borrower, the borrower's industry, or the overall economic environment. Borrowers may Special Mention A special mention loan has potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may not not Borrowers may may may Substandard A substandard loan is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard loans have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not Borrowers may Doubtful A doubtful loan has all the weaknesses inherent as a substandard loan with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loans by credit grade, segregated by loan type, at year-end, are as follows: Above Pass Special December 31, 2018 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ 3,632,231 $ 101,633,803 $ 104,454,812 $ 20,356,642 $ - $ 8,756,661 $ - $ 238,834,149 Construction and land development - - 8,190,212 7,871,642 2,203,651 - - - 18,265,505 Residential 35,926 1,178,899 26,856,131 30,169,305 2,093,825 - 2,690,020 - 63,024,106 Commercial 977,054 24,180 12,373,503 7,130,122 2,818,214 - - - 23,323,073 Consumer 3,668 80,670 266,704 63,160 - - 1,340 78,467 494,009 $ 1,016,648 $ 4,915,980 $ 149,320,353 $ 149,689,041 $ 27,472,332 $ - $ 11,448,021 $ 78,467 $ 343,940,842 Above Pass Special December 31, 2017 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ 6,115,925 $ 127,639,361 $ 79,619,726 $ 9,041,882 $ 5,391,589 $ 3,972,348 $ 2,245,743 $ 234,026,574 Construction and land development - 173,633 9,288,372 4,978,964 3,719,397 - - - 18,160,366 Residential 53,948 1,260,128 35,254,016 18,659,174 3,363,570 - 650,580 - 59,241,416 Commercial 1,581,878 121,919 16,225,350 5,545,562 138,834 - - - 23,613,543 Consumer 5,210 96,484 351,093 70,171 - - 2,640 28,419 554,017 $ 1,641,036 $ 7,768,089 $ 188,758,192 $ 108,873,597 $ 16,263,683 $ 5,391,589 $ 4,625,568 $ 2,274,162 $ 335,595,916 The following tables detail activity in the allowance for loan losses by portfolio for the years ended December 31, 2018 2017. one not Allowance for loan losses Outstanding loan Provision ending balance evaluated balances evaluated Beginning for loan Charge Ending for impairment: for impairment: December 31, 2018 balance losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 1,867,397 $ 372,315 $ (690,000 ) $ 204,660 $ 1,754,372 $ - $ 1,754,372 $ 3,177,381 $ 235,656,768 Construction and land development 223,274 (78,496 ) (12,115 ) 63,711 196,374 - 196,374 - 18,265,505 Residential 247,953 153,673 - - 401,626 - 401,626 - 63,024,106 Commercial 87,353 6,090 - 9,167 102,610 - 102,610 - 23,323,073 Consumer 7,027 3,401 - - 10,428 - 10,428 - 494,009 Unallocated 25,907 18,017 - - 43,924 - 43,924 - - $ 2,458,911 $ 475,000 $ (702,115 ) $ 277,538 $ 2,509,334 $ - $ 2,509,334 $ 3,177,381 $ 340,763,461 Allowance for loan losses Outstanding loan Provision ending balance evaluated balances evaluated Beginning for loan Charge Ending for impairment: for impairment: December 31, 2017 balance losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 1,717,749 $ 419,868 $ (275,000 ) $ 4,780 $ 1,867,397 $ 127,213 $ 1,740,184 $ 5,183,182 $ 228,843,392 Construction and land development 204,860 65,850 (47,436 ) - 223,274 - 223,274 - 18,160,366 Residential 247,437 368 - 148 247,953 - 247,953 - 59,241,416 Commercial 125,260 (41,240 ) 3,333 87,353 - 87,353 23,613,543 Consumer 8,826 (1,799 ) - - 7,027 - 7,027 - 554,017 Unallocated 58,954 (33,047 ) - - 25,907 - 25,907 - - $ 2,363,086 $ 410,000 $ (322,436 ) $ 8,261 $ 2,458,911 $ 127,213 $ 2,331,698 $ 5,183,182 $ 330,412,734 Loans with a balance of approximately $ 63 December 31, 2018. $ 51 December 31, 2018. December 31, 2018 2017, $ 3 0.0 $31.7 The Company makes loans to customers located primarily in Baltimore County and Carroll County, Maryland and in surrounding areas of northern Maryland. Although the loan portfolio is diversified, many loans are secured by real estate and its performance will be influenced by the economy of the region, including local real estate markets.

Note 6 - Premises and Equipment

Note 6 - Premises and Equipment	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	6. Premises and Equipment A summary of premises and equipment is as follows: Useful lives (in years) 2018 2017 Land and improvements - $ 1,952,998 $ 1,952,998 Buildings and improvements 15 - 39 5,659,635 5,659,635 Furniture and equipment 3 - 10 3,796,514 3,604,769 11,409,147 11,217,402 Accumulated depreciation and amortization 6,333,837 6,011,131 $ 5,075,310 $ 5,206,271 Depreciation and amortization expense $ 322,705 $ 357,650 Software with a net book value of $ 73,022 $126,538 December 31, 2018 2017, $ 57,756 $61,631 2018 2017,

Note 7 - Commitments and Contin

Note 7 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	7. Commitments and Contingencies Lease Commitments The Company has an operating lease for the land on which the Hampstead branch is located. The initial term of the lease expired on September 30, 2009 two five September 30, 2019. six five July 2012, five January 2018, one five five one nine one 2018 September 2015. September 2020 four five May 2018, five two five Future minimum payments under the agreements including those option years for which the Company is reasonably certain to renew are as follows: Year Amount 2019 $ 137,383 2020 141,680 2021 146,120 2022 150,707 2023 155,447 Thereafter 911,769 $ 1,643,106 Rent expense was $ 138,778 $130,608 2018 2017, Credit Commitments Outstanding loan commitments, unused lines of credit, and letters of credit as of December 31, 2018 2017 Loan commitments Construction and land development $ 6,800,240 $ - Commercial 1,143,217 1,295,000 Commercial real estate 2,853,913 7,478,500 Residential 1,557,500 660,000 $ 12,354,870 $ 9,433,500 Unused lines of credit Home-equity lines $ 3,594,847 $ 3,390,515 Commercial lines 23,389,326 36,614,548 $ 26,984,173 $ 40,005,063 Letters of credit $ 1,905,553 $ 1,827,513 Loan commitments and lines of credit are agreements to lend to a customer as long as there is no may not third The maximum exposure to credit loss in the event of nonperformance by the customer is the contractual amount of the commitment. Loan commitments, lines of credit and letters of credit are made on the same terms, including collateral, as outstanding loans. Management is not Insurance Reserves The Insurance Subsidiary insures risks of the Bank (primarily professional liability) that are not one not December 31, 2018 2017 $48,618 $27,413,

Note 8 - Retirement Plans

Note 8 - Retirement Plans	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	8. Retirement Plans The Company has a profit sharing plan qualifying under Section 401 21 six 4% may 100% $ 173,848 $170,142 2018 2017, The Company has entered into agreements with 12 $ 5, 673 $5,228 2018 2017, The Company adopted supplemental executive retirement plans for three $ 240,609 $255,859 2018 2017, Retirement plan expenses are included in employee benefits on the Consolidated Statements of Income.

Note 9 - Interest-Bearing Depos

Note 9 - Interest-Bearing Deposits	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Deposit Liabilities Disclosures [Text Block]	9. Interest-Bearing Deposits Major classifications of interest-bearing deposits are as follows: 2018 2017 NOW $ 56,293,730 $ 43,536,401 Money market 54,995,415 53,750,747 Savings 43,638,363 43,903,240 Certificates of deposit, $250,000 or more 23,335,007 15,896,054 Other time deposits 113,732,968 98,306,849 $ 291,995,483 $ 255,393,291 As of December 31, 2018, Year Amount 2019 $ 84,831,543 2020 30,056,739 2021 13,382,329 2022 2,477,962 2023 6,302,390 Thereafter 17,012 $ 137,067,975

Note 10 - Borrowed Funds

Note 10 - Borrowed Funds	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Debt Disclosure [Text Block]	10. Borrowed Funds Borrowed funds consist of securities sold under repurchase agreements, which represent overnight or term borrowings from customers, advances from the FHLB of Atlanta, the FRB, and overnight borrowings from a commercial bank. The government agency securities that are the collateral for these agreements are owned by the Company and maintained in the custody of an unaffiliated agent designated by the Company. Additional information is as follows: 2018 2017 Amounts outstanding at year-end: Securities sold under repurchase agreements $ 11,012,000 $ 21,768,507 Federal Home Loan Bank advances are summarized as follows: Maturity date Interest Rate Amount 1/16/2018 1.13% $ - $ 1,000,000 1/30/2018 1.25% - 2,000,000 2/12/2018 1.14% - 2,000,000 3/15/2018 1.17% - 2,000,000 5/24/2018 1.26% - 2,000,000 6/28/2018 1.69% - 3,000,000 8/13/2018 1.32% - 2,000,000 9/23/2019 1.25% 2,000,000 2,000,000 11/22/2019 1.99% 1,000,000 1,000,000 Total $ 3,000,000 $ 17,000,000 Weighted average rate paid at December 31: Securities sold under repurchase agreements 1.07 % 0.65 % Federal Home Loan Bank advances 1.50 % 1.35 % Maximum month-end amount outstanding during the year ended December 31: Securities sold under repurchase agreements $ 22,173,010 $ 30,786,064 Federal Home Loan Bank advances 19,000,000 18,000,000 Average amount outstanding during the year ended December 31: Securities sold under repurchase agreements $ 17,479,418 $ 24,702,931 Federal Home Loan Bank advances 8,795,890 13,846,575 Borrowings from FRB and commercial banks 249,047 78,082 Average rate paid during the year ended December 31: Securities sold under repurchase agreements 0.83 % 0.66 % Federal Home Loan Bank advances 1.50 % 1.20 % Borrowings from FRB and commercial banks 1.93 % 1.64 % Investment securities underlying the repurchase agreements at December 31: Carrying value $ 11,706,765 $ 22,363,793 Estimated fair value 11,710,458 22,484,092 Loans and investment securities pledged to the Federal Home Loan Bank at December 31: Carrying value - loans $ 63,305,452 $ 68,406,154 Carrying value - investment securities - 4,749,970 Loans pledged to the Federal Reserve Bank at December 31: Carrying value $ 50,682,236 $ 40,717,623 The Company is approved to borrow approximately $46.4 $25.6 $9.5 $9

Note 11 - Other Noninterest Exp

Note 11 - Other Noninterest Expenses	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Other Income and Other Expense Disclosure [Text Block]	11. Other Noninterest Expenses Other noninterest expenses include the following: 2018 2017 Professional services $ 400,759 $ 452,846 Advertising 237,508 236,564 Automated teller machine and debit card expenses 210,644 285,912 Directors fees 197,116 178,796 Telephone 193,631 179,329 Stationery, printing, and supplies 190,057 170,301 Postage, delivery, and armored carrier 179,677 172,607 Internet banking fees 155,208 157,962 Federal Deposit Insurance Corporation premiums 125,143 125,943 Correspondent bank services 94,763 84,119 Travel and conferences 50,553 51,509 Maryland state regulatory assessment 47,967 44,897 Insurance claims 47,726 27,413 Dues and subscriptions 44,603 39,574 Liability insurance 43,414 49,332 Other real estate owned 42,762 24,441 Remote deposit expenses 31,923 30,895 Credit reports 26,860 23,450 Payroll preparation 21,652 19,406 Other 143,728 118,362 $ 2,485,694 $ 2,473,658

Note 12 - Income Taxes

Note 12 - Income Taxes	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Income Tax Disclosure [Text Block]	12. Income Taxes The components of income tax expense are as follows: 2018 2017 Current Federal $ 834,327 $ 1,532,959 State 383,242 406,410 1,217,569 1,939,369 Revaluation of deferred tax asset due to change in corporate tax rate - 410,391 Deferred (111,360 ) (347,446 ) $ 1,106,209 $ 2,002,314 The Tax Cuts and Jobs Act reduced the Company’s federal corporate income tax rate from 34% 21% 2018. 2017, 2017 21% 2017. $410,391 $64,801 The components of the deferred tax expense are as follows: 2018 2017 Depreciation $ (6,049 ) $ (62,449 ) Provision for loan losses 287 (132,991 ) Other real estate owned allowance for loss (15,231 ) (58,576 ) Nonaccrual interest (8,888 ) (3,633 ) Prepaid captive insurance premium (9,325 ) 13,781 Write-down of equity securities (4,383 ) (592 ) Post-retirement benefits (67,771 ) (102,986 ) $ (111,360 ) $ (347,446 ) The components of the net deferred tax asset are as follows: Deferred tax assets Allowance for loan losses $ 626,841 $ 627,127 Other real estate owned allowance for loss 228,354 213,123 Write-down of equity securities 12,631 4,265 Nonaccrual interest 31,692 22,804 Post-retirement benefits 502,661 434,891 Unrealized loss on securities available for sale 215,751 149,671 1,617,930 1,451,881 Deferred tax liabilities Prepaid captive insurance premium 273,665 282,990 Depreciation 164,811 170,859 438,476 453,849 Net deferred tax asset $ 1,179,454 $ 998,032 The differences between the federal income tax rate in effect each year and the effective tax rate for the Company are reconciled as follows: Statutory federal income tax rate 21.0 % 34.0 % Increase (decrease) resulting from: Federal tax-exempt income (6.5 ) (10.8 ) State income taxes, net of federal income tax benefit 4.7 3.9 Nondeductible expenses 0.1 0.1 Revaluation of deferred tax asset due to change in corporate tax rate - 7.1 Other (0.3 ) 0.3 19.0 % 34.6 % Included in Federal tax-exempt income is the insurance premium revenue of the Insurance Subsidiary. The Company does not not December 31, 2014.

Note 13 - Capital Standards

Note 13 - Capital Standards	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Regulatory Capital Requirements under Banking Regulations [Text Block]	13. Capital Standards The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possible additional, discretionary actions by the regulators that, if undertaken, could have a direct material effect on our financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, we must meet specific capital guidelines that involve quantitative measures of our assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. Our capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. The Basel III Capital Rules became effective for the Bank on January 1, 2015 1 1 1 In connection with the adoption of the Basel III Capital Rules, the Bank elected to opt-out of the requirement to include accumulated other comprehensive income in Common Equity Tier 1 1 Under the revised prompt corrective action requirements, as of January 1, 2015, 1 1 6.5%; 2 1 8%; 3 10%; 4 1 5%. The implementation of the capital conservation buffer began on January 1, 2016, 0.625% four January 1, 2.5% January 1, 2019 not December 31, 2018, The aforementioned capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of Common Equity Tier 1 The following table presents actual and required capital ratios as of December 31, 2018 2017, December 31, 2018 2017, As of December 31, 2018, no The FDIC, through formal or informal agreement, has the authority to require an institution to maintain higher capital ratios than those provided by statute, to be categorized as well capitalized under the regulatory framework for prompt corrective action. The following table presents actual and required capital ratios as of December 31, 2018 2017, Minimum To Be Well (Dollars in thousands) Actual Capital Adequacy Capitalized December 31, 2018 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 47,857 13.50 % $ 34,996 9.88 % $ 35,439 10.00 % Tier 1 capital (to risk-weighted assets) 45,348 12.80 % 27,908 7.88 % 28,351 8.00 % Common equity tier 1 (to risk-weighted assets) 45,348 12.80 % 22,593 6.38 % 23,036 6.50 % Tier 1 leverage (to average assets) 45,348 10.86 % 16,698 4.00 % 20,872 5.00 % Minimum To Be Well (Dollars in thousands) Actual Capital Adequacy Capitalized December 31, 2017 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 44,039 12.54 % $ 32,477 9.25 % $ 35,110 10.00 % Tier 1 capital (to risk-weighted assets) 41,580 11.84 % 25,455 7.25 % 28,088 8.00 % Common equity tier 1 (to risk-weighted assets) 41,580 11.84 % 20,188 5.75 % 22,822 6.50 % Tier 1 leverage (to average assets) 41,580 10.31 % 16,135 4.00 % 20,169 5.00 %

Note 14 - Fair Value

Note 14 - Fair Value	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Fair Value Disclosures [Text Block]	14. Fair Value Accounting standards define fair value as the price that would be received upon the sale of an asset or paid upon the transfer of a liability in an orderly transaction between market participants. The price in the principal market used to measure the fair value of the asset or liability is not The standards require the use of valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. The standards establish a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: ● Level 1: ● Level 2: 1 not ● Level 3: The Company uses the following methods and significant assumptions to estimate the fair values of the following assets: ● Securities available for sale: The fair values of securities available for sale are determined by obtaining quoted prices from a nationally recognized securities pricing agent. If quoted market prices are not ● Equity security at fair value: The Company’s investment in an equity mutual fund is valued based on the net asset value of the fund, which is classified as Level 1. ● Other real estate owned (“OREO”): Nonrecurring fair value adjustments to OREO reflect full or partial write-downs that are based on the OREO’s observable market price or current appraised value of the real estate. Since the market for OREO is not 3. third 10% ● Impaired loans: Nonrecurring fair value adjustments to impaired loans reflect full or partial write-downs and reserves that are based on the impaired loan’s observable market price or current appraised value of the collateral. Since the market for impaired loans is not 3. third 10% The following table summarizes financial assets measured at fair value on a recurring and nonrecurring basis as of December 31, 2018 2017, Carrying Value: Level 1 Level 2 Level 3 Total December 31, 2018 Recurring Available for sale securities State and municipal $ - $ 1,506,505 $ - $ 1,506,505 SBA pools - 2,719,372 - 2,719,372 Mortgage-backed securities - 22,366,114 - 22,366,114 $ - $ 26,591,991 $ - $ 26,591,991 Equity security at fair value $ 503,827 $ - $ - $ 503,827 Nonrecurring Other real estate owned $ - $ - $ 210,150 $ 210,150 Impaired loans - - 3,177,381 3,177,381 December 31, 2017 Recurring Available for sale securities State and municipal $ - $ 1,539,207 $ - $ 1,539,207 SBA pools - 3,199,846 - 3,199,846 Mortgage-backed securities - 23,190,457 - 23,190,457 $ - $ 27,929,510 $ - $ 27,929,510 Equity security at fair value $ 503,881 $ - $ - $ 503,881 Nonrecurring Other real estate owned $ - $ - $ 265,500 $ 265,500 Impaired loans - - 5,055,969 5,055,969 Reconciliation of Level 3 Inputs Other Real Impaired Estate Owned Loans December 31, 2017 fair value $ 265,500 $ 5,055,969 Additions - 1,747,826 Advances - 19,086 Write-downs/charge-offs (55,350 ) (690,000 ) Recoveries - 197,660 Loan loss provision - 127,213 Principal payments received - (3,280,373 ) December 31, 2018 fair value $ 210,150 $ 3,177,381 The estimated fair value of financial instruments that are reported at amortized cost in the Company’s consolidated balance sheets, segregated by the level of the valuation inputs were as follows: December 31, 2018 December 31, 2017 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets Level 2 inputs Securities held to maturity 18,127,067 18,033,093 18,204,182 18,307,627 Mortgage loans held for sale 573,638 582,248 327,700 332,558 Federal Home Loan Bank stock 575,800 575,800 1,063,600 1,063,600 Level 3 inputs Loans, net 340,900,635 337,385,842 332,533,706 332,689,848 Financial liabilities Level 1 inputs Noninterest-bearing deposits $ 62,717,520 $ 62,717,520 $ 64,403,133 $ 64,403,133 Securities sold under repurchase agreements 11,012,000 11,012,000 21,768,507 21,768,507 Level 2 inputs Interest-bearing deposits 291,995,483 281,761,483 255,393,291 244,403,291 Federal Home Loan Bank advances 3,000,000 2,971,000 17,000,000 16,957,000 The fair value of mortgage loans held for sale is determined by the expected sales price. Beginning in the first 2018, 2016 01, first 2018. 3 In addition, an incremental liquidity discount is applied to certain loans, using historical sales of loans during periods of similar economic conditions as a benchmark. In comparison, loan fair values as of December 31, 2017 December 31, 2018 December 31, 2017 not The fair values of interest-bearing checking, savings, and money market deposit accounts are equal to their carrying amounts. The fair values of fixed-maturity time deposits are estimated based on interest rates currently offered for deposits of similar remaining maturities. The fair value of credit commitments are considered to be the same as the contractual amounts, and are not

Note 15 - Parent Company Financ

Note 15 - Parent Company Financial Information	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Condensed Financial Information of Parent Company Only Disclosure [Text Block]	15. Parent Company Financial Information The condensed financial statements for the Company (parent only) are presented below: Balance Sheets December 31, 2018 2017 Assets Cash and cash equivalents $ 64,243 $ 48,384 Investment in subsidiaries 45,330,464 41,743,068 Other assets - 7,480 $ 45,394,707 $ 41,798,932 Liabilities and Stockholders' Equity Stockholders' equity Common stock, par value $.01 per share, authorized 5,000,000 shares; issued and outstanding 1,682,997 shares in 2018 and 1,667,813 shares in 2017 $ 16,830 $ 16,678 Additional paid-in capital 27,324,794 26,869,796 Retained earnings 18,621,382 15,306,625 Accumulated other comprehensive income (568,299 ) (394,167 ) 45,394,707 41,798,932 $ 45,394,707 $ 41,798,932 Statements of Income Years Ended December 31, 2018 2017 Income Cash dividends from subsidiary $ 1,541,225 $ 1,250,278 Total income 1,541,225 1,250,278 Noninterest expense 492 455 Income before before income taxes and equity in undistributed income of subsidiaries 1,540,733 1,249,823 Income taxes (benefit) - - Income before before equity in undistributed income of subsidiaries 1,540,733 1,249,823 Equity in undistributed income of subsidiaries 3,171,943 2,539,418 $ 4,712,676 $ 3,789,241 Statements of Cash Flows Years Ended December 31, 2018 2017 Cash flows from operating activities Net Income $ 4,712,676 $ 3,789,241 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed income of subsidiaries (3,171,943 ) (2,539,418 ) Other 7,479 - Cash provided by operating activities 1,548,212 1,249,823 Cash flows from investing activities Contibution of capital to subsdiaries (600,000 ) (300,000 ) Cash used by investing activities (600,000 ) (300,000 ) Cash flows from financing activities Proceeds form sale of common stock 1,550 - Dividends paid, net of reinvestments (933,903 ) (953,525 ) Cash provided by financing activities (932,353 ) (953,525 ) Net increase (decrease) in cash and cash equivalents 15,859 (3,702 ) Cash and cash equivalents at beginning of period 48,384 52,086 Cash and cash equivalents at end of period $ 64,243 $ 48,384

Note 16 - Quarterly Results of

Note 16 - Quarterly Results of Operations	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Quarterly Financial Information [Text Block]	16. Quarterly Results of Operations Three Months Ended Unaudited 2018 December 31 September 30 June 30 March 31 Interest income $ 4,599,891 $ 4,525,190 $ 4,385,506 $ 4,257,746 Interest expense 726,549 664,018 580,913 535,761 Net interest income 3,873,342 3,861,172 3,804,593 3,721,985 Provision for loan losses 450,000 (100,000 ) 75,000 50,000 Net income 1,136,805 1,308,688 1,145,065 1,122,118 Earnings per share - basic and diluted $ 0.68 $ 0.78 $ 0.69 $ 0.67 2017 December 31 September 30 June 30 March 31 Interest income $ 4,264,414 $ 4,232,017 $ 4,121,760 $ 3,976,612 Interest expense 466,104 442,805 412,618 385,713 Net interest income 3,798,310 3,789,212 3,709,142 3,590,899 Provision for loan losses 60,000 225,000 75,000 50,000 Net income 656,339 1,014,456 1,134,889 983,557 Earnings per share - basic and diluted $ 0.39 $ 0.61 $ 0.69 $ 0.59

Note 17 - Litigation

Note 17 - Litigation	12 Months Ended
	Dec. 31, 2018
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	17. Litigation In the ordinary course of its business, the Company is periodically party to various legal actions normally associated with a financial institution. Management does not

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of consolidation The consolidated financial statements include the accounts of Farmers and Merchants Bancshares, Inc. and its wholly owned subsidiaries, Farmers and Merchants Bank (the “Bank”), and Series Protected Cell FCB- 4 one 100%
Business Description, Policy [Policy Text Block]	Business Farmers and Merchants Bank provides banking services to individuals and businesses located in Baltimore County, Maryland, Carroll County, Maryland and surrounding areas of northern Maryland. The Insurance Subsidiary is a captive insurance entity that provides insurance coverage for Farmers and Merchants Bank. Reliable Community Financial Services, Inc. is licensed to provide a wide range of investment and insurance products to its customers, but is inactive.
Reclassification, Policy [Policy Text Block]	Reclassifications Certain reclassifications have been made to the 2017 no
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and cash equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, money market funds, and federal funds sold. Generally, federal funds are purchased and sold for one
Comprehensive Income, Policy [Policy Text Block]	Comprehensive income Comprehensive income includes net income and the unrealized gains or losses on investment securities available for sale, net of income taxes.
Investment, Policy [Policy Text Block]	Investment securities As securities are purchased, management determines if the securities should be classified as held to maturity or available for sale. Securities which management has the intent and ability to hold to maturity are recorded at amortized cost, which is cost adjusted for amortization of premiums and accretion of discounts. Discounts are accreted through maturity. Premiums are amortized through the earliest call date. Securities held to meet liquidity needs or which may
Equity Securities, Policy [Policy Text Block]	Equity security at fair value On January 1, 2018, $10,416 $10,416 December 31, 2018.
Federal Home Loan Bank stocks [Policy Text Block]	Federal Home Loan Bank stock As a member of the Federal Home Loan Bank of Atlanta (the “FHLB”), the Bank is required to purchase FHLB stock in an amount that is based on the Bank’s total assets. Additional stock is purchased and redeemed based on the outstanding FHLB advances to the Bank. The stock is recorded at cost on the balance sheet.
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block]	Loans and allowance for loan losses Loans are stated at the current amount of unpaid principal, adjusted for deferred origination costs, deferred origination fees, and the allowance for loan losses. Interest on loans is accrued based on the principal amounts outstanding. Origination fees and costs are amortized to income over the terms of loans. Past due status is based on the contractual terms of the loan. Management may 90 not The allowance for loan losses represents an amount which, in management’s judgment, will be adequate to absorb probable losses on existing loans and other extensions of credit that may three The allowances established for probable losses on impaired loans are based on a regular analysis and evaluation of problem loans. Management maintains a watch list of problem loans. Loans are classified based on an internal credit risk grading process that evaluates, among other things: (i) the obligor's ability to repay; (ii) the underlying collateral, if any; (iii) the economic environment; and (iv) for commercial borrowers, the industry in which the borrower operates. Specific valuation allowances are determined when the collateral value, if the loan is collateral dependent, or the discounted cash flows of the impaired loan is lower than the carrying value. Historical valuation allowances are calculated based on the historical loss experience of specific types of loans. The Company calculates historical loss ratios for pools of similar loans with similar characteristics based on the proportion of actual charge-offs experienced to the total population of loans in the pool over the prior eight twenty December 31, 2018 2017, twenty Adjustments to the historical valuation allowances are based on general economic conditions and other qualitative risk factors both internal and external to the Company. In general, such adjustments are determined by evaluating, among other things: (i) the impact of economic conditions on the portfolio; (ii) changes in asset quality, including delinquency trends; (iii) the impact of changing interest rates on portfolio risk; (iv) changes in legislative and regulatory policy; (v) the composition and concentrations of credit; and (vi) the effectiveness of the internal loan review function as well as changes to policies and experience of loan personnel. Management evaluates these qualitative factors on a quarterly basis. Each factor could result in an adjustment that is positive, negative, or no Loan losses are charged to the allowance when management believes that collection is unlikely. Collections of loans previously charged off are added to the allowance at the time of recovery.
Loans and Leases Receivable, Mortgage Banking Activities, Policy [Policy Text Block]	Mortgage l oans held for sale and mortgage banking income Mortgage loans held for sale are carried at the lower of aggregate cost or fair value based on the current fair value of each outstanding loan. Sales of loans are recorded when the proceeds are received, with any gain or loss recorded in mortgage banking income. The Company sells its mortgage loans to third no third not third
Property, Plant and Equipment, Policy [Policy Text Block]	Premises and equipment Land is carried at cost. Premises and equipment are recorded at cost less accumulated depreciation and amortization. Depreciation on buildings and equipment is computed over the estimated useful lives of the assets using the straight-line method. Leasehold improvements are amortized using the straight-line method over the term of the lease or the estimated useful lives of the asset, whichever is shorter.
Real Estate Owned, Valuation Allowance, Policy [Policy Text Block]	Other real estate owned Real estate acquired through foreclosure or by deed in lieu of foreclosure is recorded at the lower of cost or fair value less estimated costs to sell on the date acquired. Losses incurred at the time of acquisition of the property are charged to the allowance for loan losses. Subsequent reductions in the estimated value of the property are included with any gains or losses on sale in noninterest income.
Bank Owned Life Insurance, Policy [Policy Text Block]	Bank owned life insurance The Company has purchased life insurance policies on certain key executives. Company owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement.
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition On January 1, 2018, 2014 09 no
Income Tax, Policy [Policy Text Block]	Income taxes The provision for income taxes includes income taxes payable for the current year and deferred income taxes. Deferred tax assets and liabilities are determined based on the difference between the financial statement bases and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. A tax position is recognized as a benefit only if it is “more likely than not” 50% not not” no
Earnings Per Share, Policy [Policy Text Block]	Per share data Earnings per share are determined by dividing net income by the weighted average number of shares of common stock outstanding, giving retroactive effect to any stock dividends. Weighted average shares were 1,671,789 1,658,384 2018 2017, no December 31, 2018 2017.
Subsequent Events, Policy [Policy Text Block]	Subsequent events The Company has evaluated events and transactions occurring subsequent to the statement of financial condition date of December 31, 2018 855,

Note 3 - Investment Securities

Note 3 - Investment Securities (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Marketable Securities [Table Text Block]	Amortized Unrealized Unrealized Fair December 31, 2018 cost gains losses value Available for sale State and municipal $ 1,506,011 $ 11,161 $ 10,667 $ 1,506,505 SBA pools 2,779,411 - 60,039 2,719,372 Mortgage-backed securities 23,090,618 33,594 758,098 22,366,114 $ 27,376,040 $ 44,755 $ 828,804 $ 26,591,991 Held to maturity State and municipal $ 18,127,067 $ 115,220 $ 209,194 $ 18,033,093 December 31, 2017 Available for sale State and municipal $ 1,510,848 $ 38,494 $ 10,135 $ 1,539,207 SBA pools 3,212,771 75 13,000 3,199,846 Mortgage-backed securities 23,735,332 8,787 553,662 23,190,457 $ 28,458,951 $ 47,356 $ 576,797 $ 27,929,510 Held to maturity State and municipal $ 18,204,182 $ 225,349 $ 121,904 $ 18,307,627
Investments Classified by Contractual Maturity Date [Table Text Block]	Available for Sale Held to Maturity Amortized Fair Amortized Fair December 31, 2018 cost value cost value Within one year $ 375,000 $ 375,653 $ 1,009,284 $ 1,011,165 Over one to five years 260,587 249,920 590,522 598,528 Over five to ten years 870,424 880,932 1,858,695 1,876,364 Over ten years - - 14,668,566 14,547,036 1,506,011 1,506,505 18,127,067 18,033,093 Mortgage-backed securities and SBA pools, due in monthly installments 25,870,029 25,085,486 - - $ 27,376,040 $ 26,591,991 $ 18,127,067 $ 18,033,093 December 31, 2017 Within one year $ - $ - $ 165,677 $ 168,260 Over one to five years - - 780,336 794,512 Over five to ten years 1,133,940 1,150,564 1,792,019 1,831,833 Over ten years 376,908 388,643 15,466,150 15,513,022 1,510,848 1,539,207 18,204,182 18,307,627 Mortgage-backed securities and SBA pools, due in monthly installments 26,948,103 26,390,303 - - $ 28,458,951 $ 27,929,510 $ 18,204,182 $ 18,307,627
Schedule of Unrealized Loss on Investments [Table Text Block]	December 31, 2018 Less than 12 months 12 months or more Total Unrealized Unrealized Unrealized Description of investments Fair value losses Fair value losses Fair value losses State and municipal $ 3,435,052 $ 42,080 $ 3,740,467 $ 177,781 $ 7,175,519 $ 219,861 SBA pools 443,288 6,707 2,276,084 53,332 2,719,372 60,039 Mortgage-backed securities 596,002 6,631 17,770,790 751,467 18,366,792 758,098 Total $ 4,474,342 $ 55,418 $ 23,787,341 $ 982,580 $ 28,261,683 $ 1,037,998 December 31, 2017 Less than 12 months 12 months or more Total Unrealized Unrealized Unrealized Description of investments Fair value losses Fair value losses Fair value losses State and municipal $ 812,630 $ 1,519 $ 3,444,443 $ 130,520 $ 4,257,073 $ 132,039 SBA pools 551,780 1,903 2,109,832 11,097 2,661,612 13,000 Mortgage-backed securities 2,871,597 41,413 19,571,511 512,249 22,443,108 553,662 Total $ 4,236,007 $ 44,835 $ 25,125,786 $ 653,866 $ 29,361,793 $ 698,701

Note 4 - Related Party Transa_2

Note 4 - Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Schedule of Related Party Transactions [Table Text Block]	2018 2017 Balance, beginning of year $ 15,577,316 $ 12,782,233 Additions 2,069,000 5,921,920 Amounts collected (2,669,653 ) (3,126,837 ) Change in related parties (1,021,566 ) - Balance, end of year $ 13,955,097 $ 15,577,316

Note 5 - Loans (Tables)

Note 5 - Loans (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	2018 2017 Real estate: Commercial $ 238,834,149 $ 234,026,574 Construction and land development 18,265,505 18,160,366 Residential 63,024,106 59,241,416 Commercial 23,323,073 23,613,543 Consumer 494,009 554,017 343,940,842 335,595,916 Less: Allowance for loan losses 2,509,334 2,458,911 Deferred origination fees net of costs 530,873 603,299 $ 340,900,635 $ 332,533,706
Maturity and Rate Repricing Distribution of the Loans and Leases Receivable [Table Text Block]	2018 2017 Variable rate, immediately $ 65,523,966 $ 55,901,161 Due within one year 42,060,188 42,042,744 Due over one to five years 153,190,636 136,475,036 Due over five years 83,166,052 101,176,975 $ 343,940,842 $ 335,595,916
Schedule of Financing Receivables, Non Accrual Status [Table Text Block]	2018 2017 Commercial real estate $ 988,811 $ 2,245,743
Past Due Financing Receivables [Table Text Block]	90 Days Past Due 90 30 - 59 Days 60 - 89 Days or More Total Total Days or More Past Due Past Due Past Due Past Due Current Loans and Accruing December 31, 2018 Real estate: Commercial $ - $ - $ 988,811 $ 988,811 $ 237,845,338 $ 238,834,149 $ - Construction and land development - - - - 18,265,505 18,265,505 - Residential - - 10,507 10,507 63,013,599 63,024,106 10,507 Commercial - 25,000 - 25,000 23,298,073 23,323,073 - Consumer - - - - 494,009 494,009 - Total $ - $ 25,000 $ 999,318 $ 1,024,318 $ 342,916,524 $ 343,940,842 $ 10,507 December 31, 2017 Real estate: Commercial $ - $ - $ 2,245,743 $ 2,245,743 $ 231,780,831 $ 234,026,574 $ - Construction and land development - - - - 18,160,366 18,160,366 - Residential - - 146,459 146,459 59,094,957 59,241,416 146,459 Commercial - - - - 23,613,543 23,613,543 - Consumer - - - - 554,017 554,017 - Total $ - $ - $ 2,392,202 $ 2,392,202 $ 333,203,714 $ 335,595,916 $ 146,459
Impaired Financing Receivables [Table Text Block]	Unpaid Recorded Recorded Contractual Investment Investment Total Average Principal With No With Recorded Related Recorded Interest Balance Allowance Allowance Investment Allowance Investment Recognized December 31, 2018 Commercial real estate $ 3,867,381 $ 3,177,381 $ - $ 3,177,381 $ - $ 4,180,282 $ 120,193 December 31, 2017 Commercial real estate $ 5,458,182 $ 2,937,439 $ 2,245,743 $ 5,183,182 $ 127,213 $ 2,591,591 $ 268,652
Financing Receivable Credit Quality Indicators [Table Text Block]	Above Pass Special December 31, 2018 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ 3,632,231 $ 101,633,803 $ 104,454,812 $ 20,356,642 $ - $ 8,756,661 $ - $ 238,834,149 Construction and land development - - 8,190,212 7,871,642 2,203,651 - - - 18,265,505 Residential 35,926 1,178,899 26,856,131 30,169,305 2,093,825 - 2,690,020 - 63,024,106 Commercial 977,054 24,180 12,373,503 7,130,122 2,818,214 - - - 23,323,073 Consumer 3,668 80,670 266,704 63,160 - - 1,340 78,467 494,009 $ 1,016,648 $ 4,915,980 $ 149,320,353 $ 149,689,041 $ 27,472,332 $ - $ 11,448,021 $ 78,467 $ 343,940,842 Above Pass Special December 31, 2017 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ 6,115,925 $ 127,639,361 $ 79,619,726 $ 9,041,882 $ 5,391,589 $ 3,972,348 $ 2,245,743 $ 234,026,574 Construction and land development - 173,633 9,288,372 4,978,964 3,719,397 - - - 18,160,366 Residential 53,948 1,260,128 35,254,016 18,659,174 3,363,570 - 650,580 - 59,241,416 Commercial 1,581,878 121,919 16,225,350 5,545,562 138,834 - - - 23,613,543 Consumer 5,210 96,484 351,093 70,171 - - 2,640 28,419 554,017 $ 1,641,036 $ 7,768,089 $ 188,758,192 $ 108,873,597 $ 16,263,683 $ 5,391,589 $ 4,625,568 $ 2,274,162 $ 335,595,916
Allowance for Credit Losses on Financing Receivables [Table Text Block]	Allowance for loan losses Outstanding loan Provision ending balance evaluated balances evaluated Beginning for loan Charge Ending for impairment: for impairment: December 31, 2018 balance losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 1,867,397 $ 372,315 $ (690,000 ) $ 204,660 $ 1,754,372 $ - $ 1,754,372 $ 3,177,381 $ 235,656,768 Construction and land development 223,274 (78,496 ) (12,115 ) 63,711 196,374 - 196,374 - 18,265,505 Residential 247,953 153,673 - - 401,626 - 401,626 - 63,024,106 Commercial 87,353 6,090 - 9,167 102,610 - 102,610 - 23,323,073 Consumer 7,027 3,401 - - 10,428 - 10,428 - 494,009 Unallocated 25,907 18,017 - - 43,924 - 43,924 - - $ 2,458,911 $ 475,000 $ (702,115 ) $ 277,538 $ 2,509,334 $ - $ 2,509,334 $ 3,177,381 $ 340,763,461 Allowance for loan losses Outstanding loan Provision ending balance evaluated balances evaluated Beginning for loan Charge Ending for impairment: for impairment: December 31, 2017 balance losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 1,717,749 $ 419,868 $ (275,000 ) $ 4,780 $ 1,867,397 $ 127,213 $ 1,740,184 $ 5,183,182 $ 228,843,392 Construction and land development 204,860 65,850 (47,436 ) - 223,274 - 223,274 - 18,160,366 Residential 247,437 368 - 148 247,953 - 247,953 - 59,241,416 Commercial 125,260 (41,240 ) 3,333 87,353 - 87,353 23,613,543 Consumer 8,826 (1,799 ) - - 7,027 - 7,027 - 554,017 Unallocated 58,954 (33,047 ) - - 25,907 - 25,907 - - $ 2,363,086 $ 410,000 $ (322,436 ) $ 8,261 $ 2,458,911 $ 127,213 $ 2,331,698 $ 5,183,182 $ 330,412,734

Note 6 - Premises and Equipme_2

Note 6 - Premises and Equipment (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Property, Plant and Equipment [Table Text Block]	Useful lives (in years) 2018 2017 Land and improvements - $ 1,952,998 $ 1,952,998 Buildings and improvements 15 - 39 5,659,635 5,659,635 Furniture and equipment 3 - 10 3,796,514 3,604,769 11,409,147 11,217,402 Accumulated depreciation and amortization 6,333,837 6,011,131 $ 5,075,310 $ 5,206,271 Depreciation and amortization expense $ 322,705 $ 357,650

Note 7 - Commitments and Cont_2

Note 7 - Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Year Amount 2019 $ 137,383 2020 141,680 2021 146,120 2022 150,707 2023 155,447 Thereafter 911,769 $ 1,643,106
Schedule of Credit Commitments [Table Text Block]	2018 2017 Loan commitments Construction and land development $ 6,800,240 $ - Commercial 1,143,217 1,295,000 Commercial real estate 2,853,913 7,478,500 Residential 1,557,500 660,000 $ 12,354,870 $ 9,433,500 Unused lines of credit Home-equity lines $ 3,594,847 $ 3,390,515 Commercial lines 23,389,326 36,614,548 $ 26,984,173 $ 40,005,063 Letters of credit $ 1,905,553 $ 1,827,513

Note 9 - Interest-Bearing Dep_2

Note 9 - Interest-Bearing Deposits (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Deposit Liabilities, Type [Table Text Block]	2018 2017 NOW $ 56,293,730 $ 43,536,401 Money market 54,995,415 53,750,747 Savings 43,638,363 43,903,240 Certificates of deposit, $250,000 or more 23,335,007 15,896,054 Other time deposits 113,732,968 98,306,849 $ 291,995,483 $ 255,393,291
Time Deposit Maturities [Table Text Block]	Year Amount 2019 $ 84,831,543 2020 30,056,739 2021 13,382,329 2022 2,477,962 2023 6,302,390 Thereafter 17,012 $ 137,067,975

Note 10 - Borrowed Funds (Table

Note 10 - Borrowed Funds (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Schedule of Debt [Table Text Block]	2018 2017 Amounts outstanding at year-end: Securities sold under repurchase agreements $ 11,012,000 $ 21,768,507 Federal Home Loan Bank advances are summarized as follows: Maturity date Interest Rate Amount 1/16/2018 1.13% $ - $ 1,000,000 1/30/2018 1.25% - 2,000,000 2/12/2018 1.14% - 2,000,000 3/15/2018 1.17% - 2,000,000 5/24/2018 1.26% - 2,000,000 6/28/2018 1.69% - 3,000,000 8/13/2018 1.32% - 2,000,000 9/23/2019 1.25% 2,000,000 2,000,000 11/22/2019 1.99% 1,000,000 1,000,000 Total $ 3,000,000 $ 17,000,000 Weighted average rate paid at December 31: Securities sold under repurchase agreements 1.07 % 0.65 % Federal Home Loan Bank advances 1.50 % 1.35 % Maximum month-end amount outstanding during the year ended December 31: Securities sold under repurchase agreements $ 22,173,010 $ 30,786,064 Federal Home Loan Bank advances 19,000,000 18,000,000 Average amount outstanding during the year ended December 31: Securities sold under repurchase agreements $ 17,479,418 $ 24,702,931 Federal Home Loan Bank advances 8,795,890 13,846,575 Borrowings from FRB and commercial banks 249,047 78,082 Average rate paid during the year ended December 31: Securities sold under repurchase agreements 0.83 % 0.66 % Federal Home Loan Bank advances 1.50 % 1.20 % Borrowings from FRB and commercial banks 1.93 % 1.64 % Investment securities underlying the repurchase agreements at December 31: Carrying value $ 11,706,765 $ 22,363,793 Estimated fair value 11,710,458 22,484,092 Loans and investment securities pledged to the Federal Home Loan Bank at December 31: Carrying value - loans $ 63,305,452 $ 68,406,154 Carrying value - investment securities - 4,749,970 Loans pledged to the Federal Reserve Bank at December 31: Carrying value $ 50,682,236 $ 40,717,623

Note 11 - Other Noninterest E_2

Note 11 - Other Noninterest Expenses (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Schedule of Other Nonoperating Income (Expense) [Table Text Block]	2018 2017 Professional services $ 400,759 $ 452,846 Advertising 237,508 236,564 Automated teller machine and debit card expenses 210,644 285,912 Directors fees 197,116 178,796 Telephone 193,631 179,329 Stationery, printing, and supplies 190,057 170,301 Postage, delivery, and armored carrier 179,677 172,607 Internet banking fees 155,208 157,962 Federal Deposit Insurance Corporation premiums 125,143 125,943 Correspondent bank services 94,763 84,119 Travel and conferences 50,553 51,509 Maryland state regulatory assessment 47,967 44,897 Insurance claims 47,726 27,413 Dues and subscriptions 44,603 39,574 Liability insurance 43,414 49,332 Other real estate owned 42,762 24,441 Remote deposit expenses 31,923 30,895 Credit reports 26,860 23,450 Payroll preparation 21,652 19,406 Other 143,728 118,362 $ 2,485,694 $ 2,473,658

Note 12 - Income Taxes (Tables)

Note 12 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	2018 2017 Current Federal $ 834,327 $ 1,532,959 State 383,242 406,410 1,217,569 1,939,369 Revaluation of deferred tax asset due to change in corporate tax rate - 410,391 Deferred (111,360 ) (347,446 ) $ 1,106,209 $ 2,002,314
Schedule of Components of Deferred Tax Expense Benefit [Table Text Block]	2018 2017 Depreciation $ (6,049 ) $ (62,449 ) Provision for loan losses 287 (132,991 ) Other real estate owned allowance for loss (15,231 ) (58,576 ) Nonaccrual interest (8,888 ) (3,633 ) Prepaid captive insurance premium (9,325 ) 13,781 Write-down of equity securities (4,383 ) (592 ) Post-retirement benefits (67,771 ) (102,986 ) $ (111,360 ) $ (347,446 )
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Deferred tax assets Allowance for loan losses $ 626,841 $ 627,127 Other real estate owned allowance for loss 228,354 213,123 Write-down of equity securities 12,631 4,265 Nonaccrual interest 31,692 22,804 Post-retirement benefits 502,661 434,891 Unrealized loss on securities available for sale 215,751 149,671 1,617,930 1,451,881 Deferred tax liabilities Prepaid captive insurance premium 273,665 282,990 Depreciation 164,811 170,859 438,476 453,849 Net deferred tax asset $ 1,179,454 $ 998,032
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Statutory federal income tax rate 21.0 % 34.0 % Increase (decrease) resulting from: Federal tax-exempt income (6.5 ) (10.8 ) State income taxes, net of federal income tax benefit 4.7 3.9 Nondeductible expenses 0.1 0.1 Revaluation of deferred tax asset due to change in corporate tax rate - 7.1 Other (0.3 ) 0.3 19.0 % 34.6 %

Note 13 - Capital Standards (Ta

Note 13 - Capital Standards (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block]	Minimum To Be Well (Dollars in thousands) Actual Capital Adequacy Capitalized December 31, 2018 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 47,857 13.50 % $ 34,996 9.88 % $ 35,439 10.00 % Tier 1 capital (to risk-weighted assets) 45,348 12.80 % 27,908 7.88 % 28,351 8.00 % Common equity tier 1 (to risk-weighted assets) 45,348 12.80 % 22,593 6.38 % 23,036 6.50 % Tier 1 leverage (to average assets) 45,348 10.86 % 16,698 4.00 % 20,872 5.00 % Minimum To Be Well (Dollars in thousands) Actual Capital Adequacy Capitalized December 31, 2017 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 44,039 12.54 % $ 32,477 9.25 % $ 35,110 10.00 % Tier 1 capital (to risk-weighted assets) 41,580 11.84 % 25,455 7.25 % 28,088 8.00 % Common equity tier 1 (to risk-weighted assets) 41,580 11.84 % 20,188 5.75 % 22,822 6.50 % Tier 1 leverage (to average assets) 41,580 10.31 % 16,135 4.00 % 20,169 5.00 %

Note 14 - Fair Value (Tables)

Note 14 - Fair Value (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	Carrying Value: Level 1 Level 2 Level 3 Total December 31, 2018 Recurring Available for sale securities State and municipal $ - $ 1,506,505 $ - $ 1,506,505 SBA pools - 2,719,372 - 2,719,372 Mortgage-backed securities - 22,366,114 - 22,366,114 $ - $ 26,591,991 $ - $ 26,591,991 Equity security at fair value $ 503,827 $ - $ - $ 503,827 Nonrecurring Other real estate owned $ - $ - $ 210,150 $ 210,150 Impaired loans - - 3,177,381 3,177,381 December 31, 2017 Recurring Available for sale securities State and municipal $ - $ 1,539,207 $ - $ 1,539,207 SBA pools - 3,199,846 - 3,199,846 Mortgage-backed securities - 23,190,457 - 23,190,457 $ - $ 27,929,510 $ - $ 27,929,510 Equity security at fair value $ 503,881 $ - $ - $ 503,881 Nonrecurring Other real estate owned $ - $ - $ 265,500 $ 265,500 Impaired loans - - 5,055,969 5,055,969
Fair Value, Assets Measured on Non-recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Reconciliation of Level 3 Inputs Other Real Impaired Estate Owned Loans December 31, 2017 fair value $ 265,500 $ 5,055,969 Additions - 1,747,826 Advances - 19,086 Write-downs/charge-offs (55,350 ) (690,000 ) Recoveries - 197,660 Loan loss provision - 127,213 Principal payments received - (3,280,373 ) December 31, 2018 fair value $ 210,150 $ 3,177,381
Fair Value, by Balance Sheet Grouping [Table Text Block]	December 31, 2018 December 31, 2017 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets Level 2 inputs Securities held to maturity 18,127,067 18,033,093 18,204,182 18,307,627 Mortgage loans held for sale 573,638 582,248 327,700 332,558 Federal Home Loan Bank stock 575,800 575,800 1,063,600 1,063,600 Level 3 inputs Loans, net 340,900,635 337,385,842 332,533,706 332,689,848 Financial liabilities Level 1 inputs Noninterest-bearing deposits $ 62,717,520 $ 62,717,520 $ 64,403,133 $ 64,403,133 Securities sold under repurchase agreements 11,012,000 11,012,000 21,768,507 21,768,507 Level 2 inputs Interest-bearing deposits 291,995,483 281,761,483 255,393,291 244,403,291 Federal Home Loan Bank advances 3,000,000 2,971,000 17,000,000 16,957,000

Note 15 - Parent Company Fina_2

Note 15 - Parent Company Financial Information (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Condensed Balance Sheet [Table Text Block]	Balance Sheets December 31, 2018 2017 Assets Cash and cash equivalents $ 64,243 $ 48,384 Investment in subsidiaries 45,330,464 41,743,068 Other assets - 7,480 $ 45,394,707 $ 41,798,932 Liabilities and Stockholders' Equity Stockholders' equity Common stock, par value $.01 per share, authorized 5,000,000 shares; issued and outstanding 1,682,997 shares in 2018 and 1,667,813 shares in 2017 $ 16,830 $ 16,678 Additional paid-in capital 27,324,794 26,869,796 Retained earnings 18,621,382 15,306,625 Accumulated other comprehensive income (568,299 ) (394,167 ) 45,394,707 41,798,932 $ 45,394,707 $ 41,798,932
Condensed Income Statement [Table Text Block]	Statements of Income Years Ended December 31, 2018 2017 Income Cash dividends from subsidiary $ 1,541,225 $ 1,250,278 Total income 1,541,225 1,250,278 Noninterest expense 492 455 Income before before income taxes and equity in undistributed income of subsidiaries 1,540,733 1,249,823 Income taxes (benefit) - - Income before before equity in undistributed income of subsidiaries 1,540,733 1,249,823 Equity in undistributed income of subsidiaries 3,171,943 2,539,418 $ 4,712,676 $ 3,789,241
Condensed Cash Flow Statement [Table Text Block]	Statements of Cash Flows Years Ended December 31, 2018 2017 Cash flows from operating activities Net Income $ 4,712,676 $ 3,789,241 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed income of subsidiaries (3,171,943 ) (2,539,418 ) Other 7,479 - Cash provided by operating activities 1,548,212 1,249,823 Cash flows from investing activities Contibution of capital to subsdiaries (600,000 ) (300,000 ) Cash used by investing activities (600,000 ) (300,000 ) Cash flows from financing activities Proceeds form sale of common stock 1,550 - Dividends paid, net of reinvestments (933,903 ) (953,525 ) Cash provided by financing activities (932,353 ) (953,525 ) Net increase (decrease) in cash and cash equivalents 15,859 (3,702 ) Cash and cash equivalents at beginning of period 48,384 52,086 Cash and cash equivalents at end of period $ 64,243 $ 48,384

Note 16 - Quarterly Results o_2

Note 16 - Quarterly Results of Operations (Tables)	12 Months Ended
	Dec. 31, 2018
Notes Tables
Quarterly Financial Information [Table Text Block]	Three Months Ended Unaudited 2018 December 31 September 30 June 30 March 31 Interest income $ 4,599,891 $ 4,525,190 $ 4,385,506 $ 4,257,746 Interest expense 726,549 664,018 580,913 535,761 Net interest income 3,873,342 3,861,172 3,804,593 3,721,985 Provision for loan losses 450,000 (100,000 ) 75,000 50,000 Net income 1,136,805 1,308,688 1,145,065 1,122,118 Earnings per share - basic and diluted $ 0.68 $ 0.78 $ 0.69 $ 0.67 2017 December 31 September 30 June 30 March 31 Interest income $ 4,264,414 $ 4,232,017 $ 4,121,760 $ 3,976,612 Interest expense 466,104 442,805 412,618 385,713 Net interest income 3,798,310 3,789,212 3,709,142 3,590,899 Provision for loan losses 60,000 225,000 75,000 50,000 Net income 656,339 1,014,456 1,134,889 983,557 Earnings per share - basic and diluted $ 0.39 $ 0.61 $ 0.69 $ 0.59

Note 1 - Summary of Significa_2

Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Weighted Average Number of Shares Outstanding, Basic, Total	1,671,789	1,658,384
Weighted Average Number Diluted Shares Outstanding Adjustment, Total	0	0
Retained Earnings [Member] | Accounting Standards Update 2016-01 [Member]
Reclassification Due to Adoption of ASU	$ (10,416)
AOCI Attributable to Parent [Member] | Accounting Standards Update 2016-01 [Member]
Reclassification Due to Adoption of ASU	$ 10,416
First Community Bankers Insurance Co., LLC [Member]
Percentage of Ownership	100.00%

Note 2 - Cash and Cash Equiva_2

Note 2 - Cash and Cash Equivalents (Details Textual) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Cash, Uninsured Amount	$ 5,349,977	$ 5,991,573
Cash, FDIC Insured Amount	$ 250,000

Note 3 - Investment Securitie_2

Note 3 - Investment Securities (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Security Owned and Pledged as Collateral, Fair Value, Total	$ 11,706,765	$ 31,982,381
Proceeds from Sale and Maturity of Marketable Securities, Total	$ 0	$ 0

Note 3 - Investment Securitie_3

Note 3 - Investment Securities - Investments in Debt Securities (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Available for sale
Amortized cost, available for sale	$ 27,376,040	$ 28,458,951
Unrealized gains, available for sale	44,755	47,356
Unrealized losses, available for sale	828,804	576,797
Fair value, available for sale	26,591,991	27,929,510
Held to maturity
Amortized cost, held to maturity	18,127,067	18,204,182
Fair value, held to maturity	18,033,093	18,307,627
Amortized cost, available for sale	27,376,040	28,458,951
Unrealized gains, available for sale	44,755	47,356
Unrealized losses, available for sale	828,804	576,797
Fair value, available for sale	26,591,991	27,929,510
US States and Political Subdivisions Debt Securities [Member]
Available for sale
Amortized cost, available for sale	1,506,011	1,510,848
Unrealized gains, available for sale	11,161	38,494
Unrealized losses, available for sale	10,667	10,135
Fair value, available for sale	1,506,505	1,539,207
Held to maturity
Amortized cost, held to maturity	18,127,067	18,204,182
Unrealized gains, held to maturity	115,220	225,349
Unrealized losses, held to maturity	209,194	121,904
Fair value, held to maturity	18,033,093	18,307,627
Amortized cost, available for sale	1,506,011	1,510,848
Unrealized gains, available for sale	11,161	38,494
Unrealized losses, available for sale	10,667	10,135
Fair value, available for sale	1,506,505	1,539,207
SBA Pools [Member]
Available for sale
Amortized cost, available for sale	2,779,411	3,212,771
Unrealized gains, available for sale		75
Unrealized losses, available for sale	60,039	13,000
Fair value, available for sale	2,719,372	3,199,846
Held to maturity
Amortized cost, available for sale	2,779,411	3,212,771
Unrealized gains, available for sale		75
Unrealized losses, available for sale	60,039	13,000
Fair value, available for sale	2,719,372	3,199,846
Collateralized Mortgage Backed Securities [Member]
Available for sale
Amortized cost, available for sale	23,090,618	23,735,332
Unrealized gains, available for sale	33,594	8,787
Unrealized losses, available for sale	758,098	553,662
Fair value, available for sale	22,366,114	23,190,457
Held to maturity
Amortized cost, available for sale	23,090,618	23,735,332
Unrealized gains, available for sale	33,594	8,787
Unrealized losses, available for sale	758,098	553,662
Fair value, available for sale	$ 22,366,114	$ 23,190,457

Note 3 - Investment Securitie_4

Note 3 - Investment Securities - Contractual Maturities (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Available for Sale Amortized cost, Within one year	$ 375,000
Available for Sale Fair value, Within one year	375,653
Held to Maturity Amortized cost, Within one year	1,009,284	165,677
Held to Maturity Fair value, Within one year	1,011,165	168,260
Available for Sale Amortized cost, Over one to five years	260,587
Available for Sale Fair value,Over one to five years	249,920
Held to Maturity Amortized cost, Over one to five years	590,522	780,336
Held to Maturity Fair value, Over one to five years	598,528	794,512
Available for Sale Amortized cost, Over five to ten years	870,424	1,133,940
Available for Sale Fair value, Over five to ten years	880,932	1,150,564
Held to Maturity Amortized cost, Over five to ten years	1,858,695	1,792,019
Held to Maturity Fair value, Over five to ten years	1,876,364	1,831,833
Available for Sale Amortized cost, Over ten years		376,908
Available for Sale Fair value, Over ten years		388,643
Held to Maturity Amortized cost, Over ten years	14,668,566	15,466,150
Held to Maturity Fair value, Over ten years	14,547,036	15,513,022
Available for Sale Amortized cost, total maturity	1,506,011	1,510,848
Available for Sale Fair value, total maturity	1,506,505	1,539,207
Held to Maturity Amortized cost, total maturity	18,127,067	18,204,182
Held to Maturity Fair value, total maturity	18,033,093	18,307,627
Available for Sale Amortized cost, due in monthly installments	25,870,029	26,948,103
Available for Sale Fair value, due in monthly installments	25,085,486	26,390,303
Held to Maturity Amortized cost, due in monthly installments
Held to Maturity Fair value, due in monthly installments
Available for Sale Amortized cost Total	27,376,040	28,458,951
Available for Sale Fair value Total	26,591,991	27,929,510
Held to Maturity Amortized cost Total	18,127,067	18,204,182
Held to Maturity Fair value Total	$ 18,033,093	$ 18,307,627

Note 3 - Investment Securitie_5

Note 3 - Investment Securities - Gross Unrealized Losses on Continuous Basis for Investment Securities (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Less than 12 months Fair value	$ 4,474,342	$ 4,236,007
State and municipal	55,418	44,835
12 months or more Fair value	23,787,341	25,125,786
12 months or more Unrealized losses	982,580	653,866
Total Fair value	28,261,683	29,361,793
Total Unrealized losses	1,037,998	698,701
US States and Political Subdivisions Debt Securities [Member]
Less than 12 months Fair value	3,435,052	812,630
State and municipal	42,080	1,519
12 months or more Fair value	3,740,467	3,444,443
12 months or more Unrealized losses	177,781	130,520
Total Fair value	7,175,519	4,257,073
Total Unrealized losses	219,861	132,039
SBA Pools [Member]
Less than 12 months Fair value	443,288	551,780
State and municipal	6,707	1,903
12 months or more Fair value	2,276,084	2,109,832
12 months or more Unrealized losses	53,332	11,097
Total Fair value	2,719,372	2,661,612
Total Unrealized losses	60,039	13,000
Collateralized Mortgage Backed Securities [Member]
Less than 12 months Fair value	596,002	2,871,597
State and municipal	6,631	41,413
12 months or more Fair value	17,770,790	19,571,511
12 months or more Unrealized losses	751,467	512,249
Total Fair value	18,366,792	22,443,108
Total Unrealized losses	$ 758,098	$ 553,662

Note 4 - Related Party Transa_3

Note 4 - Related Party Transactions (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Loans and Leases Receivable, Related Parties, Ending Balance	$ 13,955,097	$ 15,577,316	$ 12,782,233
Related Party Deposit Liabilities	14,665,183	18,592,732
Payments to Fund Long-term Loans to Related Parties	4,144	10,278
Director [Member]
Letters of Credit Outstanding, Amount	0	6,534
Unused lines of Credit [Member]
Loans and Leases Receivable, Related Parties, Ending Balance	$ 634,724	$ 746,842

Note 4 - Related Party Transa_4

Note 4 - Related Party Transactions - Related Party Loan Activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Balance, beginning of year	$ 15,577,316	$ 12,782,233
Additions	2,069,000	5,921,920
Amounts collected	(2,669,653)	(3,126,837)
Change in related parties	(1,021,566)
Balance, end of year	$ 13,955,097	$ 15,577,316

Note 5 - Loans (Details Textual

Note 5 - Loans (Details Textual)	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Financing Receivable, Allowance for Credit Losses, Recovery	$ 277,538	$ 8,261
Financing Receivable, Allowance for Credit Losses, Write-downs	702,115	322,436
Participating Mortgage Loans, Participation Liabilities, Amount	30,000,000	$ 31,700,000
Federal Home Loan Bank of Atlanta [Member]
Loans Pledged as Collateral	63,000,000
Federal Home Loan Bank of Richmond [Member]
Loans Pledged as Collateral	$ 51,000,000
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Number of Loans, Nonaccrual Status	2	1
Financing Receivable, Recorded Investment, Nonaccrual Status	$ 988,811	$ 2,245,743
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans	115,168	82,070
Impaired Financing Receivable, Related Allowance		127,213
Financing Receivable, Allowance for Credit Losses, Recovery	$ 204,660	$ 4,780
Number of Loans Classified as TDR	1	3
Financing Receivable, Modifications, Recorded Investment	$ 2,134,570	$ 2,937,439
Financing Receivable, Modifications, Pre-Modification Recorded Investment		774,274
Financing Receivable, Allowance for Credit Losses, Write-downs	690,000	275,000
Commercial Real Estate Portfolio Segment [Member] | Nonaccrual Loans [Member]
Impaired Financing Receivable, Related Allowance	0	127,213
Allowance for Loan and Lease Losses Write-offs, Net, Total	690,000	275,000
Financing Receivable, Allowance for Credit Losses, Recovery	197,660
Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses, Recovery		148
Number of Loans Classified as TDR	1
Financing Receivable, Modifications, Recorded Investment	$ 54,000
Financing Receivable, Modifications, Pre-Modification Recorded Investment	54,000
Financing Receivable, Allowance for Credit Losses, Write-downs
Commercial Real Estate and Residential Loans Classified As TDR [Member]
Financing Receivable, Allowance for Credit Losses, Write-downs	0
Commercial Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Losses, Recovery	9,167	3,333
Financing Receivable, Allowance for Credit Losses, Write-downs	$ 0

Note 5 - Loans - Major Categori

Note 5 - Loans - Major Categories of Loans (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Loans	$ 343,940,842	$ 335,595,916
Allowance for loan losses	2,509,334	2,458,911
Deferred origination fees net of costs	530,873	603,299
	340,900,635	332,533,706
Commercial Real Estate Portfolio Segment [Member]
Loans	238,834,149	234,026,574
Construction and Land Development [Member]
Loans	18,265,505	18,160,366
Residential Portfolio Segment [Member]
Loans	63,024,106	59,241,416
Commercial Portfolio Segment [Member]
Loans	23,323,073	23,613,543
Consumer Portfolio Segment [Member]
Loans	$ 494,009	$ 554,017

Note 5 - Loans - Maturity and R

Note 5 - Loans - Maturity and Rate Repricing Distribution of the Loan Portfolio (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Variable rate, immediately	$ 65,523,966	$ 55,901,161
Due within one year	42,060,188	42,042,744
Due over one to five years	153,190,636	136,475,036
Due over five years	83,166,052	101,176,975
	$ 343,940,842	$ 335,595,916

Note 5 - Loans - Non-accrual Lo

Note 5 - Loans - Non-accrual Loans (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Commercial Real Estate Portfolio Segment [Member]
Commercial real estate	$ 988,811	$ 2,245,743

Note 5 - Loans - Past Due Loans

Note 5 - Loans - Past Due Loans (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Loans, past due	$ 1,024,318	$ 2,392,202
Loans, current	342,916,524	333,203,714
Loans	343,940,842	335,595,916
Loans, 90 days past due and still accruing	10,507	146,459
Financing Receivables, 30 to 59 Days Past Due [Member]
Loans, past due
Financing Receivables, 60 to 89 Days Past Due [Member]
Loans, past due	25,000
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Loans, past due	999,318	2,392,202
Commercial Real Estate Portfolio Segment [Member]
Loans, past due	988,811	2,245,743
Loans, current	237,845,338	231,780,831
Loans	238,834,149	234,026,574
Loans, 90 days past due and still accruing
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Loans, past due
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Loans, past due
Commercial Real Estate Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Loans, past due	988,811	2,245,743
Construction and Land Development [Member]
Loans, past due
Loans, current	18,265,505	18,160,366
Loans	18,265,505	18,160,366
Loans, 90 days past due and still accruing
Construction and Land Development [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Loans, past due
Construction and Land Development [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Loans, past due
Construction and Land Development [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Loans, past due
Residential Portfolio Segment [Member]
Loans, past due	10,507	146,459
Loans, current	63,013,599	59,094,957
Loans	63,024,106	59,241,416
Loans, 90 days past due and still accruing	10,507	146,459
Residential Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Loans, past due
Residential Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Loans, past due
Residential Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Loans, past due	10,507	146,459
Commercial Portfolio Segment [Member]
Loans, past due	25,000
Loans, current	23,298,073	23,613,543
Loans	23,323,073	23,613,543
Loans, 90 days past due and still accruing
Commercial Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Loans, past due
Commercial Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Loans, past due	25,000
Commercial Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Loans, past due
Consumer Portfolio Segment [Member]
Loans, past due
Loans, current	494,009	554,017
Loans	494,009	554,017
Loans, 90 days past due and still accruing
Consumer Portfolio Segment [Member] | Financing Receivables, 30 to 59 Days Past Due [Member]
Loans, past due
Consumer Portfolio Segment [Member] | Financing Receivables, 60 to 89 Days Past Due [Member]
Loans, past due
Consumer Portfolio Segment [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Loans, past due

Note 5 - Loans - Impaired Loans

Note 5 - Loans - Impaired Loans (Details) - Commercial Real Estate Portfolio Segment [Member] - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Unpaid Contractual Principal Balance	$ 3,867,381	$ 5,458,182
Recorded Investment With No Allowance	3,177,381	2,937,439
Recorded Investment With Allowance		2,245,743
Total Recorded Investment	3,177,381	5,183,182
Related Allowance		127,213
Average Recorded Investment	4,180,282	2,591,591
Interest Recognized	$ 120,193	$ 268,652

Note 5 - Loans - Loans by Credi

Note 5 - Loans - Loans by Credit Grade (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Loans	$ 343,940,842	$ 335,595,916
Excellent [Member]
Loans	1,016,648	1,641,036
Above Average [Member]
Loans	4,915,980	7,768,089
Average [Member]
Loans	149,320,353	188,758,192
Acceptable [Member]
Loans	149,689,041	108,873,597
Pass [Member]
Loans	27,472,332	16,263,683
Special Mention [Member]
Loans		5,391,589
Substandard [Member]
Loans	11,448,021	4,625,568
Doubtful [Member]
Loans	78,467	2,274,162
Commercial Real Estate Portfolio Segment [Member]
Loans	238,834,149	234,026,574
Commercial Real Estate Portfolio Segment [Member] | Excellent [Member]
Loans
Commercial Real Estate Portfolio Segment [Member] | Above Average [Member]
Loans	3,632,231	6,115,925
Commercial Real Estate Portfolio Segment [Member] | Average [Member]
Loans	101,633,803	127,639,361
Commercial Real Estate Portfolio Segment [Member] | Acceptable [Member]
Loans	104,454,812	79,619,726
Commercial Real Estate Portfolio Segment [Member] | Pass [Member]
Loans	20,356,642	9,041,882
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member]
Loans		5,391,589
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member]
Loans	8,756,661	3,972,348
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member]
Loans		2,245,743
Construction and Land Development [Member]
Loans	18,265,505	18,160,366
Construction and Land Development [Member] | Excellent [Member]
Loans
Construction and Land Development [Member] | Above Average [Member]
Loans		173,633
Construction and Land Development [Member] | Average [Member]
Loans	8,190,212	9,288,372
Construction and Land Development [Member] | Acceptable [Member]
Loans	7,871,642	4,978,964
Construction and Land Development [Member] | Pass [Member]
Loans	2,203,651	3,719,397
Construction and Land Development [Member] | Special Mention [Member]
Loans
Construction and Land Development [Member] | Substandard [Member]
Loans
Construction and Land Development [Member] | Doubtful [Member]
Loans
Residential Portfolio Segment [Member]
Loans	63,024,106	59,241,416
Residential Portfolio Segment [Member] | Excellent [Member]
Loans	35,926	53,948
Residential Portfolio Segment [Member] | Above Average [Member]
Loans	1,178,899	1,260,128
Residential Portfolio Segment [Member] | Average [Member]
Loans	26,856,131	35,254,016
Residential Portfolio Segment [Member] | Acceptable [Member]
Loans	30,169,305	18,659,174
Residential Portfolio Segment [Member] | Pass [Member]
Loans	2,093,825	3,363,570
Residential Portfolio Segment [Member] | Special Mention [Member]
Loans
Residential Portfolio Segment [Member] | Substandard [Member]
Loans	2,690,020	650,580
Residential Portfolio Segment [Member] | Doubtful [Member]
Loans
Commercial Portfolio Segment [Member]
Loans	23,323,073	23,613,543
Commercial Portfolio Segment [Member] | Excellent [Member]
Loans	977,054	1,581,878
Commercial Portfolio Segment [Member] | Above Average [Member]
Loans	24,180	121,919
Commercial Portfolio Segment [Member] | Average [Member]
Loans	12,373,503	16,225,350
Commercial Portfolio Segment [Member] | Acceptable [Member]
Loans	7,130,122	5,545,562
Commercial Portfolio Segment [Member] | Pass [Member]
Loans	2,818,214	138,834
Commercial Portfolio Segment [Member] | Special Mention [Member]
Loans
Commercial Portfolio Segment [Member] | Substandard [Member]
Loans
Commercial Portfolio Segment [Member] | Doubtful [Member]
Loans
Consumer Portfolio Segment [Member]
Loans	494,009	554,017
Consumer Portfolio Segment [Member] | Excellent [Member]
Loans	3,668	5,210
Consumer Portfolio Segment [Member] | Above Average [Member]
Loans	80,670	96,484
Consumer Portfolio Segment [Member] | Average [Member]
Loans	266,704	351,093
Consumer Portfolio Segment [Member] | Acceptable [Member]
Loans	63,160	70,171
Consumer Portfolio Segment [Member] | Pass [Member]
Loans
Consumer Portfolio Segment [Member] | Special Mention [Member]
Loans
Consumer Portfolio Segment [Member] | Substandard [Member]
Loans	1,340	2,640
Consumer Portfolio Segment [Member] | Doubtful [Member]
Loans	$ 78,467	$ 28,419

Note 5 - Loans - Allowance for

Note 5 - Loans - Allowance for Loan Losses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Beginning balance	$ 2,458,911	$ 2,363,086
Provision for loan losses	475,000	410,000
Charge offs	(702,115)	(322,436)
Recoveries	277,538	8,261
Ending balance	2,509,334	2,458,911
Allowance for loan losses, individually		127,213
Allowance for loan losses, collectively	2,509,334	2,331,698
Outstanding loan, individually	3,177,381	5,183,182
Outstanding loan, collectively	340,763,461	330,412,734
Commercial Real Estate Portfolio Segment [Member]
Beginning balance	1,867,397	1,717,749
Provision for loan losses	372,315	419,868
Charge offs	(690,000)	(275,000)
Recoveries	204,660	4,780
Ending balance	1,754,372	1,867,397
Allowance for loan losses, individually		127,213
Allowance for loan losses, collectively	1,754,372	1,740,184
Outstanding loan, individually	3,177,381	5,183,182
Outstanding loan, collectively	235,656,768	228,843,392
Construction and Land Development [Member]
Beginning balance	223,274	204,860
Provision for loan losses	(78,496)	65,850
Charge offs	(12,115)	(47,436)
Recoveries	63,711
Ending balance	196,374	223,274
Allowance for loan losses, individually
Allowance for loan losses, collectively	196,374	223,274
Outstanding loan, individually
Outstanding loan, collectively	18,265,505	18,160,366
Residential Portfolio Segment [Member]
Beginning balance	247,953	247,437
Provision for loan losses	153,673	368
Charge offs
Recoveries		148
Ending balance	401,626	247,953
Allowance for loan losses, individually
Allowance for loan losses, collectively	401,626	247,953
Outstanding loan, individually
Outstanding loan, collectively	63,024,106	59,241,416
Commercial Portfolio Segment [Member]
Beginning balance	87,353	125,260
Provision for loan losses	6,090	(41,240)
Charge offs	0
Recoveries	9,167	3,333
Ending balance	102,610	87,353
Allowance for loan losses, individually
Allowance for loan losses, collectively	102,610	87,353
Outstanding loan, individually
Outstanding loan, collectively	23,323,073	23,613,543
Consumer Portfolio Segment [Member]
Beginning balance	7,027	8,826
Provision for loan losses	3,401	(1,799)
Charge offs
Recoveries
Ending balance	10,428	7,027
Allowance for loan losses, individually
Allowance for loan losses, collectively	10,428	7,027
Outstanding loan, individually
Outstanding loan, collectively	494,009	554,017
Unallocated Financing Receivables [Member]
Beginning balance	25,907	58,954
Provision for loan losses	18,017	(33,047)
Charge offs
Recoveries
Ending balance	43,924	25,907
Allowance for loan losses, individually
Allowance for loan losses, collectively	43,924	25,907
Outstanding loan, individually
Outstanding loan, collectively

Note 6 - Premises and Equipme_3

Note 6 - Premises and Equipment (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Amortization of Intangible Assets, Total	$ 57,756	$ 61,631
Other Assets [Member]
Intangible Assets, Net (Excluding Goodwill), Total	$ 73,022	$ 126,538

Note 6 - Premises and Equipme_4

Note 6 - Premises and Equipment - Premises and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment, Gross	$ 11,409,147	$ 11,217,402
Accumulated depreciation and amortization	6,333,837	6,011,131
Property, Plant and Equipment, Net	5,075,310	5,206,271
Depreciation and amortization expense	$ 322,705	357,650
Minimum [Member]
Property, Plant and Equipment, Estimated Useful Lives (Year)
Maximum [Member]
Property, Plant and Equipment, Estimated Useful Lives (Year)
Land and Land Improvements [Member]
Property, Plant and Equipment, Estimated Useful Lives (Year)	0 years
Property, Plant and Equipment, Gross	$ 1,952,998	1,952,998
Building and Building Improvements [Member]
Property, Plant and Equipment, Gross	$ 5,659,635	5,659,635
Building and Building Improvements [Member] | Minimum [Member]
Property, Plant and Equipment, Estimated Useful Lives (Year)	15 years
Building and Building Improvements [Member] | Maximum [Member]
Property, Plant and Equipment, Estimated Useful Lives (Year)	39 years
Furniture and Fixtures [Member]
Property, Plant and Equipment, Gross	$ 3,796,514	$ 3,604,769
Furniture and Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment, Estimated Useful Lives (Year)	3 years
Furniture and Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment, Estimated Useful Lives (Year)	10 years

Note 7 - Commitments and Cont_3

Note 7 - Commitments and Contingencies (Details Textual)	1 Months Ended	12 Months Ended
	Jan. 31, 2018	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	May 31, 2018	Sep. 30, 2015	Jul. 01, 2012	Sep. 30, 2009
Operating Leases, Rent Expense, Total		$ 138,778	$ 130,608
First Community Bankers Insurance Co., LLC [Member]
Liability for Claims and Claims Adjustment Expense, Ending Balance		$ 48,618	$ 27,413
Operating Lease for Hampstead Branch [Member]
Lessee, Operating Lease, Number of Renewal Terms							2
Lessee, Operating Lease, Renewal Term		5 years					5 years
Lessee, Operating Lease, Additional Renewal Term Number		6
Operating Lease for Certain Facilities of Greenmount Branch [Member]
Lessee, Operating Lease, Renewal Term	5 years
Lessee, Operating Lease, Term of Contract						5 years
Lessee, Operating Lease, Option to Renew, Term of Contract	5 years
Operating Lease for Its Atrium Branch Facility [Member]
Lessee, Operating Lease, Renewal Term		1 year
Lessee, Operating Lease, Additional Renewal Term Number		9
Lessee, Operating Lease, Term of Contract		1 year
Operating Lease for the Corporate Headquarters [Member]
Lessee, Operating Lease, Renewal Term					5 years
Lessee, Operating Lease, Additional Renewal Term Number					4
Lease for Carroll Lutheran Village Branch [Member]
Lessee, Operating Lease, Renewal Term				5 years
Lessee, Operating Lease, Additional Renewal Term Number				2
Lessee, Operating Lease, Term of Contract				5 years

Note 7 - Lease Commitments - Fu

Note 7 - Lease Commitments - Future Minimum Lease Payments (Details)	Dec. 31, 2018USD ($)
2019	$ 137,383
2020	141,680
2021	146,120
2022	150,707
2023	155,447
Thereafter	911,769
	$ 1,643,106

Note 7 - Outstanding Loan Commi

Note 7 - Outstanding Loan Commitments, Unused Lines of Credit, and Letters of Credit (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Letter of Credit [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	$ 1,905,553	$ 1,827,513
Loan Origination Commitments [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	12,354,870	9,433,500
Unused lines of Credit [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	26,984,173	40,005,063
Unused lines of Credit [Member] | Home Equity Loan [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	3,594,847	3,390,515
Unused lines of Credit [Member] | Commercial Lines [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	23,389,326	36,614,548
Construction and Land Development [Member] | Loan Origination Commitments [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	6,800,240
Commercial Portfolio Segment [Member] | Loan Origination Commitments [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	1,143,217	1,295,000
Commercial Real Estate Portfolio Segment [Member] | Loan Origination Commitments [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	2,853,913	7,478,500
Residential Portfolio Segment [Member] | Loan Origination Commitments [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	$ 1,557,500	$ 660,000

Note 8 - Retirement Plans (Deta

Note 8 - Retirement Plans (Details Textual)	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Number of Employees Covered by Life Insurance Policy	12
Other Postretirement Benefits Cost (Reversal of Cost)	$ 5,673	$ 5,228
Employee Benefits and Share-based Compensation	$ 1,313,392	1,289,263
Supplemental Employee Retirement Plan [Member]
Number of Employees Participating in Plan	3
Employee Benefits and Share-based Compensation	$ 240,609	255,859
Profit Sharing Plan [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	4.00%
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	100.00%
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 173,848	$ 170,142

Note 9 - Interest-Bearing Dep_3

Note 9 - Interest-Bearing Deposits - Classification of Interest-Bearing Deposits (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
NOW	$ 56,293,730	$ 43,536,401
Money market	54,995,415	53,750,747
Savings	43,638,363	43,903,240
Certificates of deposit, $250,000 or more	23,335,007	15,896,054
Other time deposits	113,732,968	98,306,849
Interest-bearing Deposit Liabilities	$ 291,995,483	$ 255,393,291

Note 9 - Interest-Bearing Dep_4

Note 9 - Interest-Bearing Deposits - Certificates of Deposit Maturity Schedule (Details)	Dec. 31, 2018USD ($)
2019	$ 84,831,543
2020	30,056,739
2021	13,382,329
2022	2,477,962
2023	6,302,390
Thereafter	17,012
Time Deposits	$ 137,067,975

Note 10 - Borrowed Funds (Detai

Note 10 - Borrowed Funds (Details Textual) $ in Millions	Dec. 31, 2018USD ($)
Unsecured Line of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 9.5
Secured Line of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	9
Federal Home Loan Bank Advances [Member]
Line of Credit Facility, Maximum Borrowing Capacity	46.4
Federal Reserve Bank Advances [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 25.6

Note 10 - Borrowed Funds - Outs

Note 10 - Borrowed Funds - Outstanding Advances (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Amount	$ 11,012,000	$ 21,768,507
Amount	$ 3,000,000	$ 17,000,000
Federal Home Loan Bank advances	1.50%	1.35%
Federal Home Loan Bank advances	$ 19,000,000	$ 18,000,000
Federal Home Loan Bank, Advances, Activity for Year, Average Balance of Agreements Outstanding	$ 8,795,890	$ 13,846,575
Average rate, federal Home Loan Bank advances	1.50%	1.20%
Investment securities underlying the repurchase agreements at year end: Carrying value	$ 11,706,765	$ 22,363,793
Investment securities underlying the repurchase agreements at year end: Estimated fair value	11,710,458	22,484,092
Loans pledged to the Federal Home Loan Bank at year-end: Carrying value - loans	63,305,452	68,406,154
Loans pledged to the Federal Home Loan Bank at year-end: Carrying value - investment securities		4,749,970
Loans pledged to the Federal Reserve Bank at year-end: Carrying value	$ 50,682,236	40,717,623
Federal Home Loan Bank Advances at 1.13% Due in 2018[Member]
Interest Rate	1.13%
Label 7	Jan. 16, 2018
Amount		1,000,000
Federal Home Loan Bank Advances at 1.25% Due in 2018 [Member]
Interest Rate	1.25%
Label 7	Jan. 30, 2018
Amount		2,000,000
Federal Home Loan Bank Advances at 1.14% Due in 2018 [Member]
Interest Rate	1.14%
Label 7	Feb. 12, 2018
Amount		2,000,000
Federal Home Loan Bank Advances at 1.17% Due in 2018 [Member]
Interest Rate	1.17%
Label 7	Mar. 15, 2018
Amount		2,000,000
Federal Home Loan Bank Advances at 1.26% Due in 2018 [Member]
Interest Rate	1.26%
Label 7	May 24, 2018
Amount		2,000,000
Federal Home Loan Bank Advances at 1.69% Due in 2018 [Member]
Interest Rate	169.00%
Label 7	Jun. 28, 2018
Amount		3,000,000
Federal Home Loan Bank Advances at 1.32% Due in 2018 [Member]
Interest Rate	132.00%
Label 7	Aug. 13, 2018
Amount		2,000,000
Federal Home Loan Bank Advances at 1.25% Due in 2019 [Member]
Interest Rate	125.00%
Label 7	Sep. 23, 2019
Amount	$ 2,000,000	2,000,000
Federal Home Loan Bank Advances at 1.99% Due in 2019 [Member]
Interest Rate	199.00%
Label 7	Nov. 22, 2019
Amount	$ 1,000,000	$ 1,000,000
Securities Sold under Agreements to Repurchase [Member]
Securities sold under repurchase agreements	1.07%	0.65%
Securities sold under repurchase agreements	$ 22,173,010	$ 30,786,064
Short-term Debt, Average Outstanding Amount	$ 17,479,418	$ 24,702,931
Average rate, securities sold under repurchase agreements	0.83%	0.66%
Borrowings from FRB and Commercial Banks [Member]
Short-term Debt, Average Outstanding Amount	$ 249,047	$ 78,082
Average rate, securities sold under repurchase agreements	1.93%	1.64%

Note 11 - Other Noninterest E_3

Note 11 - Other Noninterest Expenses - Summary of Other Noninterest Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Professional services	$ 400,759	$ 452,846
Advertising	237,508	236,564
Automated teller machine and debit card expenses	210,644	285,912
Directors fees	197,116	178,796
Telephone	193,631	179,329
Stationery, printing, and supplies	190,057	170,301
Postage, delivery, and armored carrier	179,677	172,607
Internet banking fees	155,208	157,962
Federal Deposit Insurance Corporation premiums	125,143	125,943
Correspondent bank services	94,763	84,119
Travel and conferences	50,553	51,509
Maryland state regulatory assessment	47,967	44,897
Insurance claims	47,726	27,413
Dues and subscriptions	44,603	39,574
Liability insurance	43,414	49,332
Other real estate owned	42,762	24,441
Remote deposit expenses	31,923	30,895
Credit reports	26,860	23,450
Payroll preparation	21,652	19,406
Other	143,728	118,362
	$ 2,485,694	$ 2,473,658

Note 12 - Income Taxes (Details

Note 12 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	34.00%
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability		$ 410,391
Income Tax Expense (Benefit),Adjustment of Deferred Tax (Asset) Liability for Unrealized Losses on Available for Sale Securities		$ 64,801

Note 12 - Income Taxes - Compon

Note 12 - Income Taxes - Components of Income Tax Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Current
Federal	$ 834,327	$ 1,532,959
State	383,242	406,410
Current Income Tax Expense (Benefit), Total	1,217,569	1,939,369
Revaluation of deferred tax asset due to change in corporate tax rate		410,391
Deferred	(111,360)	(347,446)
Income Tax Expense (Benefit), Total	$ 1,106,209	$ 2,002,314

Note 12 - Income Taxes - Comp_2

Note 12 - Income Taxes - Components of Deferred Tax Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Depreciation	$ (6,049)	$ (62,449)
Provision for loan losses	287	(132,991)
Other real estate owned allowance for loss	(15,231)	(58,576)
Nonaccrual interest	(8,888)	(3,633)
Prepaid captive insurance premium	(9,325)	13,781
Write-down of equity securities	(4,383)	(592)
Post-retirement benefits	(67,771)	(102,986)
	$ (111,360)	$ (347,446)

Note 12 - Income Taxes - Comp_3

Note 12 - Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets
Allowance for loan losses	$ 626,841	$ 627,127
Other real estate owned allowance for loss	228,354	213,123
Write-down of equity securities	12,631	4,265
Nonaccrual interest	31,692	22,804
Post-retirement benefits	502,661	434,891
Unrealized loss on securities available for sale	215,751	149,671
Deferred Tax Assets, Net of Valuation Allowance, Total	1,617,930	1,451,881
Deferred tax liabilities
Prepaid captive insurance premium	273,665	282,990
Depreciation	164,811	170,859
Deferred Tax Liabilities, Total	438,476	453,849
Net deferred tax asset	$ 1,179,454	$ 998,032

Note 12 - Income Taxes - Reconc

Note 12 - Income Taxes - Reconciliation of Effective Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Statutory federal income tax rate	21.00%	34.00%
Federal tax-exempt income	(6.50%)	(10.80%)
State income taxes, net of federal income tax benefit	4.70%	3.90%
Nondeductible expenses	0.10%	0.10%
Revaluation of deferred tax asset due to change in corporate tax rate		7.10%
Other	(0.30%)	0.30%
	19.00%	34.60%

Note 13 - Capital Standards (De

Note 13 - Capital Standards (Details Textual)	Dec. 31, 2018	Dec. 31, 2017
Common Equity Tier One Capital Required to be Well Capitalized Ratio	6.50%	6.50%
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets	8.00%	8.00%
Capital Required to be Well Capitalized to Risk Weighted Assets	10.00%	10.00%
Tier One Leverage Capital Required to be Well Capitalized to Average Assets	5.00%	5.00%

Note 13 - Capital Standards - C

Note 13 - Capital Standards - Capital Requirements (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Capital	$ 47,857	$ 44,039
Capital to Risk Weighted Assets	13.50%	12.54%
Capital Required for Capital Adequacy	$ 34,996	$ 32,477
Capital Required for Capital Adequacy to Risk Weighted Assets	9.88%	9.25%
Capital Required to be Well Capitalized	$ 35,439	$ 35,110
Capital Required to be Well Capitalized to Risk Weighted Assets	10.00%	10.00%
Tier One Risk Based Capital	$ 45,348	$ 41,580
Tier One Risk Based Capital to Risk Weighted Assets	12.80%	11.84%
Tier One Risk Based Capital Required for Capital Adequacy	$ 27,908	$ 25,455
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets	7.88%	7.25%
Tier One Risk Based Capital Required to be Well Capitalized	$ 28,351	$ 28,088
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets	8.00%	8.00%
Common Equity Tier One Capital	$ 45,348	$ 41,580
Common Equity Tier One Capital Ratio	12.80%	11.84%
Common Equity Tier One Capital Required for Capital Adequacy	$ 22,593	$ 20,188
Common Equity Tier One Capital Required for Capital Adequacy Ratio	6.38%	5.75%
Common Equity Tier One Capital Required to be Well-Capitalized	$ 23,036	$ 22,822
Common Equity Tier One Capital Required to be Well Capitalized Ratio	6.50%	6.50%
Tier One Leverage Capital	$ 45,348	$ 41,580
Tier One Leverage Capital to Average Assets	10.86%	10.31%
Tier One Leverage Capital Required for Capital Adequacy	$ 16,698	$ 16,135
Tier One Leverage Capital Required for Capital Adequacy to Average Assets	4.00%	4.00%
Tier One Leverage Capital Required to be Well Capitalized	$ 20,872	$ 20,169
Tier One Leverage Capital Required to be Well Capitalized to Average Assets	5.00%	5.00%

Note 14 - Fair Value (Details T

Note 14 - Fair Value (Details Textual)	12 Months Ended
	Dec. 31, 2018
Other Real Estate Owned [Member]
Expected Sales Costs to Appraised Value, Percentage	10.00%
Impaired Loans [Member]
Expected Sales Costs to Appraised Value, Percentage	10.00%

Note 14 - Fair Value - Summariz

Note 14 - Fair Value - Summarizes Financial Assets Measured at Fair Value (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Fair value, available for sale	$ 26,591,991	$ 27,929,510
Equity security at fair value	503,827	503,881
Fair Value, Measurements, Recurring [Member]
Fair value, available for sale	26,591,991	27,929,510
Equity security at fair value	503,827	503,881
Fair Value, Measurements, Nonrecurring [Member]
Other real estate owned	210,150	265,500
Impaired loans	3,177,381	5,055,969
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair value, available for sale
Equity security at fair value	503,827	503,881
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member]
Other real estate owned
Impaired loans
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair value, available for sale	26,591,991	27,929,510
Equity security at fair value
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member]
Other real estate owned
Impaired loans
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair value, available for sale
Equity security at fair value
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member]
Other real estate owned	210,150	265,500
Impaired loans	3,177,381	5,055,969
US States and Political Subdivisions Debt Securities [Member]
Fair value, available for sale	1,506,505	1,539,207
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member]
Fair value, available for sale	1,506,505	1,539,207
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair value, available for sale
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair value, available for sale	1,506,505	1,539,207
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair value, available for sale
SBA Pools [Member]
Fair value, available for sale	2,719,372	3,199,846
SBA Pools [Member] | Fair Value, Measurements, Recurring [Member]
Fair value, available for sale	2,719,372	3,199,846
SBA Pools [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair value, available for sale
SBA Pools [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair value, available for sale	2,719,372	3,199,846
SBA Pools [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair value, available for sale
Collateralized Mortgage Backed Securities [Member]
Fair value, available for sale	22,366,114	23,190,457
Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member]
Fair value, available for sale	22,366,114	23,190,457
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member]
Fair value, available for sale
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member]
Fair value, available for sale	22,366,114	23,190,457
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member]
Fair value, available for sale

Note 14 - Fair Value - Reconcil

Note 14 - Fair Value - Reconciliation of Level 3 Inputs (Details)	12 Months Ended
	Dec. 31, 2018USD ($)
Other Real Estate Owned [Member]
Fair value beginning balance	$ 265,500
Additions
Advances
Write-downs/charge-offs	(55,350)
Fair Value Recoveries
Loan loss provision
Principal payments received
Fair value ending balance	210,150
Impaired Loans [Member]
Fair value beginning balance	5,055,969
Additions	1,747,826
Advances	19,086
Write-downs/charge-offs	(690,000)
Fair Value Recoveries	197,660
Loan loss provision	127,213
Principal payments received	(3,280,373)
Fair value ending balance	$ 3,177,381

Note 14 - Fair Value - Estimate

Note 14 - Fair Value - Estimated Fair Value of Financial Instruments (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Fair value, held to maturity	$ 18,033,093	$ 18,307,627
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value, held to maturity	18,127,067	18,204,182
Mortgage loans held for sale	573,638	327,700
Federal Home Loan Bank stock	575,800	1,063,600
Interest-bearing deposits	291,995,483	255,393,291
Federal Home Loan Bank advances	3,000,000	17,000,000
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Loans, net	340,900,635	332,533,706
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Noninterest-bearing deposits	62,717,520	64,403,133
Securities sold under repurchase agreements	11,012,000	21,768,507
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value, held to maturity	18,033,093	18,307,627
Mortgage loans held for sale	582,248	332,558
Federal Home Loan Bank stock	575,800	1,063,600
Interest-bearing deposits	281,761,483	244,403,291
Federal Home Loan Bank advances	2,971,000	16,957,000
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Loans, net	337,385,842	332,689,848
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Noninterest-bearing deposits	62,717,520	64,403,133
Securities sold under repurchase agreements	$ 11,012,000	$ 21,768,507

Note 15 - Parent Company Fina_3

Note 15 - Parent Company Financial Information - Balance Sheets (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Other assets	$ 657,885	$ 622,856
Assets	417,157,877	402,904,469
Common stock, par value $.01 per share, authorized 5,000,000 shares; issued and outstanding 1,682,997 shares in 2018 and 1,667,813 shares in 2017	16,830	16,678
Additional paid-in capital	27,324,794	26,869,796
Retained earnings	18,621,382	15,306,625
Accumulated other comprehensive loss	(568,299)	(394,167)
Stockholders' Equity Attributable to Parent	45,394,707	41,798,932	$ 39,012,277
Liabilities and Equity	417,157,877	402,904,469
Parent Company [Member]
Cash and cash equivalents	64,243	48,384
Investment in subsidiaries	45,330,464	41,743,068
Other assets		7,480
Assets	45,394,707	41,798,932
Common stock, par value $.01 per share, authorized 5,000,000 shares; issued and outstanding 1,682,997 shares in 2018 and 1,667,813 shares in 2017	16,830	16,678
Additional paid-in capital	27,324,794	26,869,796
Retained earnings	18,621,382	15,306,625
Accumulated other comprehensive loss	(568,299)	(394,167)
Stockholders' Equity Attributable to Parent	45,394,707	41,798,932
Liabilities and Equity	$ 45,394,707	$ 41,798,932

Note 15 - Parent Company Fina_4

Note 15 - Parent Company Financial Information - Balance Sheets (Details) (Parentheticals) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, share authorized (in shares)	5,000,000	5,000,000
Common stock, share issued (in shares)	1,682,997	1,667,813
Common stock, share outstanding (in shares)	1,682,997	1,667,813
Parent Company [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, share authorized (in shares)	5,000,000	5,000,000
Common stock, share issued (in shares)	1,682,997	1,667,813
Common stock, share outstanding (in shares)	1,682,997	1,667,813

Note 15 - Parent Company Fina_5

Note 15 - Parent Company Financial Information - Statements of Income (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Interest income:
Total income	$ 4,599,891	$ 4,525,190	$ 4,385,506	$ 4,257,746	$ 4,264,414	$ 4,232,017	$ 4,121,760	$ 3,976,612	$ 17,768,333	$ 16,594,803
Noninterest expense									10,332,480	10,023,102
Income before before income taxes and equity in undistributed income of subsidiaries									5,818,885	5,791,555
Income taxes (benefit)									1,106,209	2,002,314
	$ 1,136,805	$ 1,308,688	$ 1,145,065	$ 1,122,118	$ 656,339	$ 1,014,456	$ 1,134,889	$ 983,557	4,712,676	3,789,241
Parent Company [Member]
Interest income:
Cash dividends from subsidiary									1,541,225	1,250,278
Total income									1,541,225	1,250,278
Noninterest expense									492	455
Income before before income taxes and equity in undistributed income of subsidiaries									1,540,733	1,249,823
Income taxes (benefit)
Income before before equity in undistributed income of subsidiaries									1,540,733	1,249,823
Equity in undistributed income of subsidiaries									3,171,943	2,539,418
									$ 4,712,676	$ 3,789,241

Note 15 - Parent Company Fina_6

Note 15 - Parent Company Financial Information - Statements of Cash Flows (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities
	$ 1,136,805	$ 1,308,688	$ 1,145,065	$ 1,122,118	$ 656,339	$ 1,014,456	$ 1,134,889	$ 983,557	$ 4,712,676	$ 3,789,241
Adjustments to reconcile net income to net cash provided by operating activities
Cash provided by operating activities									5,363,783	7,684,982
Cash flows from investing activities
Cash used by investing activities									(7,210,650)	(32,430,623)
Cash flows from financing activities
Common stock issued									1,550
Dividends paid, net of reinvestments									(933,903)	(953,525)
Cash provided by financing activities									9,227,719	18,670,111
Net increase (decrease) in cash and cash equivalents									7,380,852	(6,075,530)
Cash and cash equivalents at beginning of period				7,237,385				13,312,915	7,237,385	13,312,915
Cash and cash equivalents at end of period	14,618,237				7,237,385				14,618,237	7,237,385
Parent Company [Member]
Cash flows from operating activities
									4,712,676	3,789,241
Adjustments to reconcile net income to net cash provided by operating activities
Equity in undistributed income of subsidiaries									(3,171,943)	(2,539,418)
Other									7,479
Cash provided by operating activities									1,548,212	1,249,823
Cash flows from investing activities
Contibution of capital to subsdiaries									(600,000)	(300,000)
Cash used by investing activities									(600,000)	(300,000)
Cash flows from financing activities
Common stock issued									1,550
Dividends paid, net of reinvestments									(933,903)	(953,525)
Cash provided by financing activities									(932,353)	(953,525)
Net increase (decrease) in cash and cash equivalents									15,859	(3,702)
Cash and cash equivalents at beginning of period				$ 48,384				$ 52,086	48,384	52,086
Cash and cash equivalents at end of period	$ 64,243				$ 48,384				$ 64,243	$ 48,384

Note 16 - Quarterly Results o_3

Note 16 - Quarterly Results of Operations - Summary of Quarterly Results (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Total income	$ 4,599,891	$ 4,525,190	$ 4,385,506	$ 4,257,746	$ 4,264,414	$ 4,232,017	$ 4,121,760	$ 3,976,612	$ 17,768,333	$ 16,594,803
Interest expense	726,549	664,018	580,913	535,761	466,104	442,805	412,618	385,713	2,507,241	1,707,240
Net interest income	3,873,342	3,861,172	3,804,593	3,721,985	3,798,310	3,789,212	3,709,142	3,590,899	15,261,092	14,887,563
Provision for loan losses	450,000	(100,000)	75,000	50,000	60,000	225,000	75,000	50,000	475,000	410,000
	$ 1,136,805	$ 1,308,688	$ 1,145,065	$ 1,122,118	$ 656,339	$ 1,014,456	$ 1,134,889	$ 983,557	$ 4,712,676	$ 3,789,241
Earnings per share - basic and diluted (in dollars per share)	$ 0.68	$ 0.78	$ 0.69	$ 0.67	$ 0.39	$ 0.61	$ 0.69	$ 0.59	$ 2.82	$ 2.28