Farmers and Merchants Bancshares (FMFG) 10-Q 14 May 19 2019 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 13, 2019
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 Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding (in shares)		1,682,997
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Assets:
Cash and due from banks	$ 20,088,893	$ 11,480,608
Federal funds sold and other interest-bearing deposits	6,724,288	3,137,629
Cash and cash equivalents	26,813,181	14,618,237
Certificate of deposit in other bank	100,000	100,000
Securities available for sale	30,601,771	26,591,991
Securities held to maturity	18,065,993	18,127,067
Equity security at fair value	514,717	503,827
Federal Home Loan Bank stock, at cost	503,700	575,800
Mortgage loans held for sale	417,465	573,638
Loans, less allowance for loan losses of $2,529,209 and $2,509,334	335,142,379	340,900,635
Premises and equipment	5,032,002	5,075,310
Accrued interest receivable	1,014,800	990,529
Deferred income taxes	1,100,714	1,179,454
Other real estate owned	210,150	210,150
Bank owned life insurance	7,093,740	7,053,354
Other assets	1,873,120	657,885
	428,483,732	417,157,877
Deposits:
Noninterest-bearing	60,431,904	62,717,520
Interest-bearing	304,755,581	291,995,483
Total deposits	365,187,485	354,713,003
Securities sold under repurchase agreements	9,132,795	11,012,000
Federal Home Loan Bank of Atlanta advances	3,000,000	3,000,000
Accrued interest payable	350,206	311,489
Other liabilities	4,114,849	2,726,678
	381,785,335	371,763,170
Stockholders' equity:
Common stock, par value $.01 per share, authorized 5,000,000 shares; issued and outstanding 1,682,997 shares in 2019 and 2018	16,830	16,830
Additional paid-in capital	27,324,794	27,324,794
Retained earnings	19,626,222	18,621,382
Accumulated other comprehensive income	(269,449)	(568,299)
	46,698,397	45,394,707
	$ 428,483,732	$ 417,157,877

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Allowance for loan losses	$ 2,529,209	$ 2,509,334
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	1,682,997
Common stock, share outstanding (in shares)	1,682,997	1,682,997

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Interest income:
Loans, including fees	$ 4,160,086	$ 3,933,155
Investment securities - taxable	152,317	154,860
Investment securities - tax exempt	160,607	142,763
Federal funds sold and other interest earning assets	74,526	26,968
Total interest income	4,547,536	4,257,746
Interest expense:
Deposits	775,531	438,410
Securities sold under repurchase agreements	25,299	34,389
Federal Home Loan Bank advances and other borrowings	20,553	62,962
Total interest expense	821,383	535,761
Net interest income	3,726,153	3,721,985
Provision for loan losses	13,000	50,000
Net interest income after provision for loan losses	3,713,153	3,671,985
Noninterest income:
Mortgage banking income	32,719	54,193
Bank owned life insurance income	40,386	39,905
Unrealized gain on equity security	7,845	960
Gain on sale of SBA loans	130,015	60,508
Total noninterest income	392,396	340,280
Noninterest expense:
Salaries	1,326,783	1,283,510
Employee benefits	381,964	367,454
Occupancy	214,420	177,533
Furniture and equipment	155,147	161,616
Other	676,972	639,177
Total noninterest expense	2,755,286	2,629,290
Income before income taxes	1,350,263	1,382,975
Income taxes	253,976	260,857
Net income	$ 1,096,287	$ 1,122,118
Earnings per share - basic and diluted (in dollars per share)	$ 0.65	$ 0.67
Deposit Account [Member]
Noninterest income:
Noninterest revenue	$ 152,060	$ 161,840
Financial Service, Other [Member]
Noninterest income:
Noninterest revenue	$ 29,371	$ 22,874

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net income	$ 1,096,287	$ 1,122,118
Securities available for sale
Net unrealized gain (loss) arising during the period	412,306	(311,961)
Income tax expense (benefit)	113,456	(85,843)
Total other comprehensive income (loss)	298,850	(226,118)
Total comprehensive income	$ 1,395,137	$ 896,000

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Unaudited Except for Year-end Amounts) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
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			1,122,118		1,122,118
Unrealized gain (loss) on securities available for sale net of income tax expense (benefit)				(226,118)	(226,118)
Reclassification due to adoption of ASU No. 2016-01 | Accounting Standards Update 2016-01 [Member]			(10,416)	10,416
Common stock issued (in shares)	50
Common stock issued	$ 1	1,549			1,550
Balance (in shares) at Mar. 31, 2018	1,667,863
Balance at Mar. 31, 2018	$ 16,679	26,871,345	16,418,327	(609,869)	42,696,482
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
Net income			1,096,287		1,096,287
Unrealized gain (loss) on securities available for sale net of income tax expense (benefit)				298,850	298,850
Adjustment due to adoption of ASU No. 2016-02			(91,447)		(91,447)
Balance (in shares) at Mar. 31, 2019	1,682,997
Balance at Mar. 31, 2019	$ 16,830	$ 27,324,794	$ 19,626,222	$ (269,449)	$ 46,698,397

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Unaudited Except for Year-end Amounts) (Parentheticals) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Unrealized gain (loss) on securities available for sale, tax expense (benefit)	$ 113,456	$ (85,843)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities
Interest received	$ 4,508,539	$ 4,238,900
Fees and commissions received	214,151	238,907
Interest paid	(782,666)	(487,695)
Proceeds from sale of mortgage loans held for sale	1,488,092	2,567,407
Origination of mortgage loans held for sale	(1,331,919)	(2,539,707)
Cash paid to suppliers and employees	(2,865,997)	(2,609,031)
Income taxes paid, net of refunds received
	1,230,200	1,408,781
Cash flows from investing activities
Available for sale	(1,438,497)	(1,364,864)
Held to maturity	200,000
Available for sale	(5,062,430)
Held to maturity	(132,187)
Purchase of certificate of deposit		(242,000)
Loans made to customers, net of principal collected	4,403,357	(5,234,852)
Proceeds from sale of SBA loans	1,483,594	668,508
Redemption of stock in FHLB of Atlanta	72,100	84,000
Purchases of premises, equipment and software	(33,464)	(18,677)
	2,369,467	(3,378,157)
Cash flows from financing activities
Noninterest-bearing deposits	(2,285,616)	(5,217,949)
Interest-bearing deposits	12,760,098	19,219,973
Securities sold under repurchase agreements	(1,879,205)	(2,164,199)
Federal Home Loan Bank of Atlanta advances		(4,500,000)
Common stock issued		1,550
	8,595,277	7,339,375
Net increase in cash and cash equivalents	12,194,944	5,369,999
Cash and cash equivalents at beginning of period	14,618,237	7,237,385
Cash and cash equivalents at end of period	26,813,181	12,607,384
Reconciliation of net income to net cash provided by operating activities
Net income	1,096,287	1,122,118
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	90,167	97,862
Provision for loan losses	13,000	50,000
Lease expense in excess of rent paid	11,083
Equity security dividends reinvested	(3,045)	(2,721)
Unrealized gain on equity security	(7,845)	(960)
Gain on sale of SBA loans	(130,015)	(60,508)
Amortization of premiums and accretion of discounts, net	19,721	37,045
Increase (decrease) in
Deferred loan fees	(11,680)	(9,183)
Accrued interest payable	38,717	48,066
Other liabilities	(115,566)	149,648
Decrease (increase) in
Mortgage loans held for sale	156,173	27,700
Accrued interest receivable	(24,271)	(6,942)
Bank owned life insurance cash surrender value	(40,386)	(39,905)
Other assets	137,860	(3,439)
	$ 1,230,200	$ 1,408,781

Note 1 - Principles of Consolid

Note 1 - Principles of Consolidation	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. 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%

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	2. Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and in accordance with the instructions to Form 10 8 03 X. not three March 31, 2019 not may December 31, 2019 December 31, 2018, 10 Recent Accounting Pronouncements In February 2016, No. 2016 02, 841 2016 02, 606, December 15, 2018, not may not 2016 02, January 1, 2019, $1,400,855, $1,527,019, $91,447 $34,717 In June 2016, 2016 13, December 15, 2019, third In August 2018, 2018 13, 820 2018 13 820. no 2018 13 January 1, 2020, not In August 2018, 2018 14, 715 20 2018 14 no 2018 14 January 1, 2021, not In August 2018, 2018 15, 350 40 2018 15 2015 05, April 2015. 2018 15 2018 15 not 2018 15 January 1, 2020, not

Note 3 - Investment Securities

Note 3 - Investment Securities	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	3. Investment Securities Investments in debt securities are summarized as follows: Amortized Unrealized Unrealized Fair March 31, 2019 cost gains losses value Available for sale State and municipal $ 1,130,283 $ 8,235 $ 5,228 $ 1,133,290 SBA pools 2,658,758 - 54,648 2,604,110 Mortgage-backed securities 27,184,473 102,422 422,524 26,864,371 $ 30,973,514 $ 110,657 $ 482,400 $ 30,601,771 Held to maturity State and municipal $ 18,065,993 $ 220,230 $ 50,038 $ 18,236,185 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 Contractual maturities, shown below, will differ from actual maturities because borrowers and issuers may Available for Sale Held to Maturity Amortized Fair Amortized Fair March 31, 2019 cost value cost value Within one year $ - $ - $ 804,270 $ 805,908 Over one to five years 259,981 254,753 589,690 597,571 Over five to ten years 870,302 878,537 1,859,628 1,900,827 Over ten years - - 14,812,405 14,931,879 1,130,283 1,133,290 18,065,993 18,236,185 Mortgage-backed securities and SBA pools, due in monthly installments 29,843,231 29,468,481 - - $ 30,973,514 $ 30,601,771 $ 18,065,993 $ 18,236,185 December 31, 2018 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 Securities with a carrying value of $9,657,069 $11,706,765 March 31, 2019 December 31, 2018, The following table sets forth the Company’s gross unrealized losses on a continuous basis for investments in debt securities, by category and length of time, at March 31, 2019 December 31, 2018. March 31, 2019 Less than 12 months 12 months or more Total Description of investments Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss State and municipal $ - $ - $ 3,092,607 $ 55,266 $ 3,092,607 $ 55,266 SBA pools - - 2,604,110 54,648 2,604,110 54,648 Mortgage-backed securities - - 17,414,593 422,524 17,414,593 422,524 Total $ - $ - $ 23,111,310 $ 532,438 $ 23,111,310 $ 532,438 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 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 March 31, 2019 December 31, 2018, not March 31, 2019 December 31, 2018, none

Note 4 - Loans

Note 4 - Loans	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	4. Loans Major categories of loans are as follows: March 31, December 31, 2019 2018 Real estate: Commercial $ 236,794,302 $ 238,834,149 Construction and land development 15,914,131 18,265,505 Residential 63,019,749 63,024,106 Commercial 22,095,306 23,323,073 Consumer 367,293 494,009 338,190,781 343,940,842 Less: Allowance for loan losses 2,529,209 2,509,334 Deferred origination fees net of costs 519,193 530,873 $ 335,142,379 $ 340,900,635 Non-accrual loans, segregated by class of loans, were as follows: March 31, December 31, 2019 2018 Commercial real estate $ 988,811 $ 988,811 At March 31, 2019, two $988,811 $31,733 three March 31, 2019 $0 $690,000 March 31, 2019. At December 31, 2018, two $988,811. $115,168 December 31, 2018 $0 $690,000 December 31, 2018. An age analysis of past due loans, segregated by type of loan, 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 March 31, 2019 Real estate: Commercial $ - $ - $ 988,811 $ 988,811 $ 235,805,491 $ 236,794,302 $ - Construction and land development - - - - 15,914,131 15,914,131 - Residential 274,110 - - 274,110 62,745,639 63,019,749 - Commercial - - - - 22,095,306 22,095,306 - Consumer - - - - 367,293 367,293 - Total $ 274,110 $ - $ 988,811 $ 1,262,921 $ 336,927,860 $ 338,190,781 $ - 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 Impaired loans, segregated by class of loans with average recorded investment and interest recognized for the three March 31, 2019 December 31, 2018, Unpaid Recorded Recorded Contractual Investment Investment Total Average Principal With No With Recorded Related Recorded Interest Balance Allowance Allowance Investment Allowance Investment Recognized March 31, 2019 Real estate: Commercial real estate $ 3,800,855 $ 3,110,855 $ - $ 3,110,855 $ - $ 3,144,118 $ 26,589 Residential real estate 52,938 52,938 - 52,938 - 26,469 724 $ 3,853,793 $ 3,163,793 $ - $ 3,163,793 $ - $ 3,170,587 $ 27,313 December 31, 2018 Commercial real estate $ 3,867,381 $ 3,177,381 $ - $ 3,177,381 $ - $ 4,180,282 $ 120,193 Impaired loans also 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 March 31, 2019, one $2,122,044 one $52,938 no two At December 31, 2018, one $2,134,570 one $54,000 $54,000 2018. no two 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 Company 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, are as follows: Above Pass Special March 31, 2019 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ 3,491,312 $ 97,290,160 $ 104,534,189 $ 22,775,714 $ - $ 8,702,927 $ - $ 236,794,302 Construction and land development - - 5,865,774 7,733,236 2,315,121 - - - 15,914,131 Residential 20,490 1,416,824 24,815,266 28,517,090 5,653,182 - 2,596,897 - 63,019,749 Commercial 912,227 22,200 9,998,931 8,135,261 3,026,687 - - - 22,095,306 Consumer 12,944 108,534 159,671 60,543 - - 5,188 20,413 367,293 $ 945,661 $ 5,038,870 $ 138,129,802 $ 148,980,319 $ 33,770,704 $ - $ 11,305,012 $ 20,413 $ 338,190,781 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 The Company’s allowance for loan losses is based on management’s evaluation of the risks inherent in the Company’s loan portfolio and the general economy. The allowance for loan may The following table details activity in the allowance for loan losses by portfolio for the three March 31, 2019 2018, December 31, 2018. one not Allowance for loan losses Outstanding loan Provision ending balance evaluated balances evaluated Beginning for loan Charge Ending for impairment: for impairment: March 31, 2019 balance losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 1,754,372 $ 3,524 $ - $ 1,000 $ 1,758,896 $ - $ 1,758,896 $ 3,163,793 $ 233,630,509 Construction and land development 196,374 (29,317 ) - 3,375 170,432 - 170,432 - 15,914,131 Residential 401,626 32,059 - - 433,685 - 433,685 - 63,019,749 Commercial 102,610 (3,482 ) - 2,500 101,628 - 101,628 - 22,095,306 Consumer 10,428 (5,569 ) - - 4,859 - 4,859 - 367,293 Unallocated 43,924 15,785 - - 59,709 - 59,709 - - $ 2,509,334 $ 13,000 $ - $ 6,875 $ 2,529,209 $ - $ 2,529,209 $ 3,163,793 $ 335,026,988 Allowance for loan losses Outstanding loan Provision ending balance evaluated balances evaluated Beginning for loan Charge Ending for impairment: for impairment: March 31, 2018 balance losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 1,867,397 $ 62,323 $ - $ 2,000 $ 1,931,720 $ 28,577 $ 1,903,143 $ 4,396,741 $ 232,971,398 Construction and land development 223,274 16,225 (10,622 ) - 228,877 - 228,877 - 19,247,095 Residential 247,953 (722 ) - - 247,231 - 247,231 - 59,083,653 Commercial 87,353 (2,648 ) - 1,666 86,371 - 86,371 - 23,996,157 Consumer 7,027 729 - - 7,756 - 7,756 - 520,768 Unallocated 25,907 (25,907 ) - - - - - - - $ 2,458,911 $ 50,000 $ (10,622 ) $ 3,666 $ 2,501,955 $ 28,577 $ 2,473,378 $ 4,396,741 $ 335,819,071 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

Note 5 - Lease Commitments

Note 5 - Lease Commitments	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	5. Lease Commitments The Company and its subsidiaries are obligated under operating lease for certain office premises. The following table shows operating lease right of use assets and operating lease liabilities as of March 31, 2019: Consolidated Balance Sheet classification March 31, 2019 Operating lease right of use asset Other assets $ 1,366,490 Operating lease liabilities Other liabilities $ 1,503,737 Operating lease cost included in occupancy expense in the statement of income for the three March 31, 2019 $47,807. 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 $ 103,387 2020 141,680 2021 146,120 2022 150,707 2023 155,447 Thereafter 911,769 Total lease payments 1,609,110 Less imputed interest (105,373 ) Present value of operating lease liabilities $ 1,503,737 For operating leases as of March 31, 2019, 10.1 3.35%. three March 31, 2019, $36,724

Note 6 - Capital Standards

Note 6 - Capital Standards	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Regulatory Capital Requirements under Banking Regulations [Text Block]	6. 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 6.5%; 1 8%; 10%; 1 5%. March 31, 2019, The implementation of the capital conservation buffer began on January 1, 2016, 0.625% four January 1, 2.5% January 1, 2019 not March 31, 2019, 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 table below presents actual and required capital ratios as of March 31, 2019 December 31, 2018, March 31, 2019 December 31, 2018 Capital ratios of the Company are substantially the same as the Bank’s. Minimum Capital Adequacy To Be Well (Dollars in thousands) Actual Phase-In Schedule Capitalized March 31, 2019 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 48,615 13.79 % $ 37,022 10.50 % $ 35,259 10.00 % Tier 1 capital (to risk-weighted assets) 46,086 13.07 % 29,970 8.50 % 28,207 8.00 % Common equity tier 1 (to risk- weighted assets) 46,086 13.07 % 24,681 7.00 % 22,918 6.50 % Tier 1 leverage (to average assets) 46,086 10.97 % 16,812 4.00 % 21,015 5.00 % Minimum Capital Adequacy To Be Well (Dollars in thousands) Actual Phase-In Schedule 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 % As of March 31, 2019, 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.

Note 7 - Fair Value

Note 7 - Fair Value	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Fair Value Disclosures [Text Block]	7. 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 March 31, 2019 December 31, 2018, Carrying Value: Level 1 Level 2 Level 3 Total March 31, 2019 Recurring Available for sale securities State and municipal $ - $ 1,133,290 $ - $ 1,133,290 SBA pools - 2,604,110 - 2,604,110 Mortgage-backed securities - 26,864,371 - 26,864,371 $ - $ 30,601,771 $ - $ 30,601,771 Equity security at fair value Mutual fund $ 514,717 $ - $ - $ 514,717 Nonrecurring Other real estate owned $ - $ - $ 210,150 $ 210,150 Impaired loans - - 3,163,793 3,163,793 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 Mutual fund $ 503,827 $ - $ - $ 503,827 Nonrecurring Other real estate owned $ - $ - $ 210,150 $ 210,150 Impaired loans - - 3,177,381 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: March 31, 2019 December 31, 2018 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets Level 2 inputs Securities held to maturity $ 18,065,993 $ 18,236,185 $ 18,127,067 $ 18,033,093 Mortgage loans held for sale 417,465 426,075 573,638 582,248 Federal Home Loan Bank stock 503,700 503,700 575,800 575,800 Level 3 inputs Loans, net 335,142,379 331,705,398 340,900,635 337,385,842 Financial liabilities Level 1 inputs Noninterest-bearing deposits $ 60,431,904 $ 60,431,904 $ 62,717,520 $ 62,717,520 Securities sold under repurchase agreements 9,132,795 9,132,795 11,012,000 11,012,000 Level 2 inputs Interest-bearing deposits 304,755,581 297,345,581 291,995,483 281,761,483 Federal Home Loan Bank advances 3,000,000 2,983,000 3,000,000 2,971,000 The fair value of mortgage loans held for sale is determined by the expected sales price. The fair value of loans were determined using an exit price methodology as prescribed by ASU 2016 01. 3 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 8 - Earnings Per Share

Note 8 - Earnings Per Share	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Earnings Per Share [Text Block]	8. Earnings per Share Basic earnings per share is determined by dividing net income available to stockholders by the weighted-average number of shares of common stock outstanding during the period and does not three March 31, 2019 2018. no March 31, 2019 2018. Three Months Ended Three Months Ended March 31, 2019 March 31, 2018 Net income $ 1,096,287 $ 1,122,118 Weighted average shares outstanding 1,682,997 1,667,833 Earnings per share - basic and diluted $ 0.65 $ 0.67

Note 9 - Retirement Plans

Note 9 - Retirement Plans	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	9. Retirement Plans The Company has a profit sharing plan qualifying under Section 401 21 six 4% may 100% $61,817 $48,654 three March 31, 2019 2018, The Company has entered into agreements with 12 $1,468 $1,418 three March 31, 2019 2018, The Company adopted supplemental executive retirement plans for three $30,600 $60,000 three March 31, 2019 2018, Retirement plan expenses are included in employee benefits on the consolidated statements of income.

Note 10 - Subsequent Events

Note 10 - Subsequent Events	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Subsequent Events [Text Block]	10. Subsequent Events The Company has evaluated subsequent events for potential recognition and/or disclosure through the date the consolidated financial statements were issued. No

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In February 2016, No. 2016 02, 841 2016 02, 606, December 15, 2018, not may not 2016 02, January 1, 2019, $1,400,855, $1,527,019, $91,447 $34,717 In June 2016, 2016 13, December 15, 2019, third In August 2018, 2018 13, 820 2018 13 820. no 2018 13 January 1, 2020, not In August 2018, 2018 14, 715 20 2018 14 no 2018 14 January 1, 2021, not In August 2018, 2018 15, 350 40 2018 15 2015 05, April 2015. 2018 15 2018 15 not 2018 15 January 1, 2020, not

Note 3 - Investment Securities

Note 3 - Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Marketable Securities [Table Text Block]	Amortized Unrealized Unrealized Fair March 31, 2019 cost gains losses value Available for sale State and municipal $ 1,130,283 $ 8,235 $ 5,228 $ 1,133,290 SBA pools 2,658,758 - 54,648 2,604,110 Mortgage-backed securities 27,184,473 102,422 422,524 26,864,371 $ 30,973,514 $ 110,657 $ 482,400 $ 30,601,771 Held to maturity State and municipal $ 18,065,993 $ 220,230 $ 50,038 $ 18,236,185 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
Investments Classified by Contractual Maturity Date [Table Text Block]	Available for Sale Held to Maturity Amortized Fair Amortized Fair March 31, 2019 cost value cost value Within one year $ - $ - $ 804,270 $ 805,908 Over one to five years 259,981 254,753 589,690 597,571 Over five to ten years 870,302 878,537 1,859,628 1,900,827 Over ten years - - 14,812,405 14,931,879 1,130,283 1,133,290 18,065,993 18,236,185 Mortgage-backed securities and SBA pools, due in monthly installments 29,843,231 29,468,481 - - $ 30,973,514 $ 30,601,771 $ 18,065,993 $ 18,236,185 December 31, 2018 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
Schedule of Unrealized Loss on Investments [Table Text Block]	March 31, 2019 Less than 12 months 12 months or more Total Description of investments Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss State and municipal $ - $ - $ 3,092,607 $ 55,266 $ 3,092,607 $ 55,266 SBA pools - - 2,604,110 54,648 2,604,110 54,648 Mortgage-backed securities - - 17,414,593 422,524 17,414,593 422,524 Total $ - $ - $ 23,111,310 $ 532,438 $ 23,111,310 $ 532,438 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

Note 4 - Loans (Tables)

Note 4 - Loans (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	March 31, December 31, 2019 2018 Real estate: Commercial $ 236,794,302 $ 238,834,149 Construction and land development 15,914,131 18,265,505 Residential 63,019,749 63,024,106 Commercial 22,095,306 23,323,073 Consumer 367,293 494,009 338,190,781 343,940,842 Less: Allowance for loan losses 2,529,209 2,509,334 Deferred origination fees net of costs 519,193 530,873 $ 335,142,379 $ 340,900,635
Financing Receivable, Nonaccrual [Table Text Block]	March 31, December 31, 2019 2018 Commercial real estate $ 988,811 $ 988,811
Financing Receivable, Past Due [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 March 31, 2019 Real estate: Commercial $ - $ - $ 988,811 $ 988,811 $ 235,805,491 $ 236,794,302 $ - Construction and land development - - - - 15,914,131 15,914,131 - Residential 274,110 - - 274,110 62,745,639 63,019,749 - Commercial - - - - 22,095,306 22,095,306 - Consumer - - - - 367,293 367,293 - Total $ 274,110 $ - $ 988,811 $ 1,262,921 $ 336,927,860 $ 338,190,781 $ - 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
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 March 31, 2019 Real estate: Commercial real estate $ 3,800,855 $ 3,110,855 $ - $ 3,110,855 $ - $ 3,144,118 $ 26,589 Residential real estate 52,938 52,938 - 52,938 - 26,469 724 $ 3,853,793 $ 3,163,793 $ - $ 3,163,793 $ - $ 3,170,587 $ 27,313 December 31, 2018 Commercial real estate $ 3,867,381 $ 3,177,381 $ - $ 3,177,381 $ - $ 4,180,282 $ 120,193
Financing Receivable Credit Quality Indicators [Table Text Block]	Above Pass Special March 31, 2019 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ 3,491,312 $ 97,290,160 $ 104,534,189 $ 22,775,714 $ - $ 8,702,927 $ - $ 236,794,302 Construction and land development - - 5,865,774 7,733,236 2,315,121 - - - 15,914,131 Residential 20,490 1,416,824 24,815,266 28,517,090 5,653,182 - 2,596,897 - 63,019,749 Commercial 912,227 22,200 9,998,931 8,135,261 3,026,687 - - - 22,095,306 Consumer 12,944 108,534 159,671 60,543 - - 5,188 20,413 367,293 $ 945,661 $ 5,038,870 $ 138,129,802 $ 148,980,319 $ 33,770,704 $ - $ 11,305,012 $ 20,413 $ 338,190,781 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
Financing Receivable, Allowance for Credit Loss [Table Text Block]	Allowance for loan losses Outstanding loan Provision ending balance evaluated balances evaluated Beginning for loan Charge Ending for impairment: for impairment: March 31, 2019 balance losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 1,754,372 $ 3,524 $ - $ 1,000 $ 1,758,896 $ - $ 1,758,896 $ 3,163,793 $ 233,630,509 Construction and land development 196,374 (29,317 ) - 3,375 170,432 - 170,432 - 15,914,131 Residential 401,626 32,059 - - 433,685 - 433,685 - 63,019,749 Commercial 102,610 (3,482 ) - 2,500 101,628 - 101,628 - 22,095,306 Consumer 10,428 (5,569 ) - - 4,859 - 4,859 - 367,293 Unallocated 43,924 15,785 - - 59,709 - 59,709 - - $ 2,509,334 $ 13,000 $ - $ 6,875 $ 2,529,209 $ - $ 2,529,209 $ 3,163,793 $ 335,026,988 Allowance for loan losses Outstanding loan Provision ending balance evaluated balances evaluated Beginning for loan Charge Ending for impairment: for impairment: March 31, 2018 balance losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 1,867,397 $ 62,323 $ - $ 2,000 $ 1,931,720 $ 28,577 $ 1,903,143 $ 4,396,741 $ 232,971,398 Construction and land development 223,274 16,225 (10,622 ) - 228,877 - 228,877 - 19,247,095 Residential 247,953 (722 ) - - 247,231 - 247,231 - 59,083,653 Commercial 87,353 (2,648 ) - 1,666 86,371 - 86,371 - 23,996,157 Consumer 7,027 729 - - 7,756 - 7,756 - 520,768 Unallocated 25,907 (25,907 ) - - - - - - - $ 2,458,911 $ 50,000 $ (10,622 ) $ 3,666 $ 2,501,955 $ 28,577 $ 2,473,378 $ 4,396,741 $ 335,819,071 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

Note 5 - Lease Commitments (Tab

Note 5 - Lease Commitments (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Components of Lease Assets and Liabilities [Table Text Block]	Consolidated Balance Sheet classification March 31, 2019 Operating lease right of use asset Other assets $ 1,366,490 Operating lease liabilities Other liabilities $ 1,503,737
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Year Amount 2019 $ 103,387 2020 141,680 2021 146,120 2022 150,707 2023 155,447 Thereafter 911,769 Total lease payments 1,609,110 Less imputed interest (105,373 ) Present value of operating lease liabilities $ 1,503,737

Note 6 - Capital Standards (Tab

Note 6 - Capital Standards (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block]	Minimum Capital Adequacy To Be Well (Dollars in thousands) Actual Phase-In Schedule Capitalized March 31, 2019 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 48,615 13.79 % $ 37,022 10.50 % $ 35,259 10.00 % Tier 1 capital (to risk-weighted assets) 46,086 13.07 % 29,970 8.50 % 28,207 8.00 % Common equity tier 1 (to risk- weighted assets) 46,086 13.07 % 24,681 7.00 % 22,918 6.50 % Tier 1 leverage (to average assets) 46,086 10.97 % 16,812 4.00 % 21,015 5.00 % Minimum Capital Adequacy To Be Well (Dollars in thousands) Actual Phase-In Schedule 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 %

Note 7 - Fair Value (Tables)

Note 7 - Fair Value (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	Carrying Value: Level 1 Level 2 Level 3 Total March 31, 2019 Recurring Available for sale securities State and municipal $ - $ 1,133,290 $ - $ 1,133,290 SBA pools - 2,604,110 - 2,604,110 Mortgage-backed securities - 26,864,371 - 26,864,371 $ - $ 30,601,771 $ - $ 30,601,771 Equity security at fair value Mutual fund $ 514,717 $ - $ - $ 514,717 Nonrecurring Other real estate owned $ - $ - $ 210,150 $ 210,150 Impaired loans - - 3,163,793 3,163,793 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 Mutual fund $ 503,827 $ - $ - $ 503,827 Nonrecurring Other real estate owned $ - $ - $ 210,150 $ 210,150 Impaired loans - - 3,177,381 3,177,381
Fair Value, by Balance Sheet Grouping [Table Text Block]	March 31, 2019 December 31, 2018 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets Level 2 inputs Securities held to maturity $ 18,065,993 $ 18,236,185 $ 18,127,067 $ 18,033,093 Mortgage loans held for sale 417,465 426,075 573,638 582,248 Federal Home Loan Bank stock 503,700 503,700 575,800 575,800 Level 3 inputs Loans, net 335,142,379 331,705,398 340,900,635 337,385,842 Financial liabilities Level 1 inputs Noninterest-bearing deposits $ 60,431,904 $ 60,431,904 $ 62,717,520 $ 62,717,520 Securities sold under repurchase agreements 9,132,795 9,132,795 11,012,000 11,012,000 Level 2 inputs Interest-bearing deposits 304,755,581 297,345,581 291,995,483 281,761,483 Federal Home Loan Bank advances 3,000,000 2,983,000 3,000,000 2,971,000

Note 8 - Earnings Per Share (Ta

Note 8 - Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Three Months Ended March 31, 2019 March 31, 2018 Net income $ 1,096,287 $ 1,122,118 Weighted average shares outstanding 1,682,997 1,667,833 Earnings per share - basic and diluted $ 0.65 $ 0.67

Note 1 - Principles of Consol_2

Note 1 - Principles of Consolidation (Details Textual)	3 Months Ended
	Mar. 31, 2019
First Community Bankers Insurance Co., LLC [Member]
Percentage of Ownership	100.00%

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation (Details Textual) - USD ($)	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Operating Lease, Liability, Total	$ 1,503,737
Deferred Income Tax Assets, Net, Total	$ 1,100,714		$ 1,179,454
Accounting Standards Update 2016-02 [Member]
Operating Lease, Right-of-Use Asset		$ 1,400,855
Operating Lease, Liability, Total		1,527,019
Deferred Income Tax Assets, Net, Total		34,717
Accounting Standards Update 2016-02 [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption		$ 91,447

Note 3 - Investment Securitie_2

Note 3 - Investment Securities (Details Textual) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Security Owned and Pledged as Collateral, Fair Value, Total	$ 9,657,069	$ 11,706,765

Note 3 - Investment Securitie_3

Note 3 - Investment Securities - Investments in Debt Securities (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Amortized cost, available for sale	$ 30,973,514	$ 27,376,040
Unrealized gains, available for sale	110,657	44,755
Unrealized losses, available for sale	482,400	828,804
Fair value, available for sale	30,601,771	26,591,991
Amortized cost, held to maturity	18,065,993	18,127,067
Fair value, held to maturity	18,236,185	18,033,093
US States and Political Subdivisions Debt Securities [Member]
Amortized cost, available for sale	1,130,283	1,506,011
Unrealized gains, available for sale	8,235	11,161
Unrealized losses, available for sale	5,228	10,667
Fair value, available for sale	1,133,290	1,506,505
Amortized cost, held to maturity	18,065,993	18,127,067
Unrealized gains, held to maturity	220,230	115,220
Unrealized losses, held to maturity	50,038	209,194
Fair value, held to maturity	18,236,185	18,033,093
SBA Pools [Member]
Amortized cost, available for sale	2,658,758	2,779,411
Unrealized gains, available for sale
Unrealized losses, available for sale	54,648	60,039
Fair value, available for sale	2,604,110	2,719,372
Collateralized Mortgage Backed Securities [Member]
Amortized cost, available for sale	27,184,473	23,090,618
Unrealized gains, available for sale	102,422	33,594
Unrealized losses, available for sale	422,524	758,098
Fair value, available for sale	$ 26,864,371	$ 22,366,114

Note 3 - Investment Securitie_4

Note 3 - Investment Securities - Contractual Maturities (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
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	804,270	1,009,284
Held to Maturity Fair value, Within one year	805,908	1,011,165
Available for Sale Amortized cost, Over one to five years	259,981	260,587
Available for Sale Fair value,Over one to five years	254,753	249,920
Held to Maturity Amortized cost, Over one to five years	589,690	590,522
Held to Maturity Fair value, Over one to five years	597,571	598,528
Available for Sale Amortized cost, Over five to ten years	870,302	870,424
Available for Sale Fair value, Over five to ten years	878,537	880,932
Held to Maturity Amortized cost, Over five to ten years	1,859,628	1,858,695
Held to Maturity Fair value, Over five to ten years	1,900,827	1,876,364
Available for Sale Amortized cost, Over ten years
Available for Sale Fair value, Over ten years
Held to Maturity Amortized cost, Over ten years	14,812,405	14,668,566
Held to Maturity Fair value, Over ten years	14,931,879	14,547,036
Available for Sale Amortized cost, total maturity	1,130,283	1,506,011
Available for Sale Fair value, total maturity	1,133,290	1,506,505
Held to Maturity Amortized cost, total maturity	18,065,993	18,127,067
Held to Maturity Fair value, total maturity	18,236,185	18,033,093
Available for Sale Amortized cost, due in monthly installments	29,843,231	25,870,029
Available for Sale Fair value, due in monthly installments	29,468,481	25,085,486
Held to Maturity Amortized cost, due in monthly installments
Held to Maturity Fair value, due in monthly installments
Available for Sale Amortized cost Total	30,973,514	27,376,040
Available for Sale Fair value Total	30,601,771	26,591,991
Held to Maturity Amortized cost Total	18,065,993	18,127,067
Held to Maturity Fair value Total	$ 18,236,185	$ 18,033,093

Note 3 - Investment Securitie_5

Note 3 - Investment Securities - Gross Unrealized Losses on Continuous Basis for Investment Securities (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Less than 12 months Fair value		$ 4,474,342
State and municipal		55,418
12 months or more Fair value	23,111,310	23,787,341
12 months or more Unrealized losses	532,438	982,580
Total Fair value	23,111,310	28,261,683
Total Unrealized losses	532,438	1,037,998
US States and Political Subdivisions Debt Securities [Member]
Less than 12 months Fair value		3,435,052
State and municipal		42,080
12 months or more Fair value	3,092,607	3,740,467
12 months or more Unrealized losses	55,266	177,781
Total Fair value	3,092,607	7,175,519
Total Unrealized losses	55,266	219,861
SBA Pools [Member]
Less than 12 months Fair value		443,288
State and municipal		6,707
12 months or more Fair value	2,604,110	2,276,084
12 months or more Unrealized losses	54,648	53,332
Total Fair value	2,604,110	2,719,372
Total Unrealized losses	54,648	60,039
Collateralized Mortgage Backed Securities [Member]
Less than 12 months Fair value		596,002
State and municipal		6,631
12 months or more Fair value	17,414,593	17,770,790
12 months or more Unrealized losses	422,524	751,467
Total Fair value	17,414,593	18,366,792
Total Unrealized losses	$ 422,524	$ 758,098

Note 4 - Loans (Details Textual

Note 4 - Loans (Details Textual)	3 Months Ended		12 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)
Impaired Financing Receivable, Related Allowance
Financing Receivable, Allowance for Credit Loss, Writeoff		$ 10,622	$ 702,115
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Number of Loans, Nonaccrual Status	2		2
Financing Receivable, Nonaccrual	$ 988,811		$ 988,811
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans	31,733		115,168
Impaired Financing Receivable, Related Allowance
Number of Loans Classified as TDR	1		1
Financing Receivable, Troubled Debt Restructuring	$ 2,122,044		$ 2,134,570
Financing Receivable, Allowance for Credit Loss, Writeoff			690,000
Commercial Real Estate Portfolio Segment [Member] | Nonaccrual Loans [Member]
Impaired Financing Receivable, Related Allowance	0		0
Allowance for Loan and Lease Losses Write-offs, Net, Total	690,000		$ 690,000
Residential Portfolio Segment [Member]
Impaired Financing Receivable, Related Allowance
Number of Loans Classified as TDR	1		1
Financing Receivable, Troubled Debt Restructuring	$ 52,938		$ 54,000
Financing Receivable, Allowance for Credit Loss, Writeoff
Financing Receivable, Troubled Debt Restructuring, Premodification			54,000
Commercial Real Estate and Residential Loans Classified As TDR [Member]
Financing Receivable, Allowance for Credit Loss, Writeoff	$ 0		$ 0

Note 4 - Loans - Major Categori

Note 4 - Loans - Major Categories of Loans (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Loans	$ 338,190,781	$ 343,940,842
Allowance for loan losses	2,529,209	2,509,334
Deferred origination fees net of costs	519,193	530,873
	335,142,379	340,900,635
Commercial Real Estate Portfolio Segment [Member]
Loans	236,794,302	238,834,149
Construction and Land Development [Member]
Loans	15,914,131	18,265,505
Residential Portfolio Segment [Member]
Loans	63,019,749	63,024,106
Commercial Portfolio Segment [Member]
Loans	22,095,306	23,323,073
Consumer Portfolio Segment [Member]
Loans	$ 367,293	$ 494,009

Note 4 - Loans - Non-accrual Lo

Note 4 - Loans - Non-accrual Loans (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Commercial Real Estate Portfolio Segment [Member]
Commercial real estate	$ 988,811	$ 988,811

Note 4 - Loans - Past Due Loans

Note 4 - Loans - Past Due Loans (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Loans, past due	$ 1,262,921	$ 1,024,318
Loans, current	336,927,860	342,916,524
Loans	338,190,781	343,940,842
Loans, 90 days past due and still accruing		10,507
Financial Asset, 30 to 59 Days Past Due [Member]
Loans, past due	274,110
Financial Asset, 60 to 89 Days Past Due [Member]
Loans, past due		25,000
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans, past due	988,811	999,318
Commercial Real Estate Portfolio Segment [Member]
Loans, past due	988,811	988,811
Loans, current	235,805,491	237,845,338
Loans	236,794,302	238,834,149
Loans, 90 days past due and still accruing
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Loans, past due
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Loans, past due
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans, past due	988,811	988,811
Construction and Land Development [Member]
Loans, past due
Loans, current	15,914,131	18,265,505
Loans	15,914,131	18,265,505
Loans, 90 days past due and still accruing
Construction and Land Development [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Loans, past due
Construction and Land Development [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Loans, past due
Construction and Land Development [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans, past due
Residential Portfolio Segment [Member]
Loans, past due	274,110	10,507
Loans, current	62,745,639	63,013,599
Loans	63,019,749	63,024,106
Loans, 90 days past due and still accruing		10,507
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Loans, past due	274,110
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Loans, past due
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans, past due		10,507
Commercial Portfolio Segment [Member]
Loans, past due		25,000
Loans, current	22,095,306	23,298,073
Loans	22,095,306	23,323,073
Loans, 90 days past due and still accruing
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Loans, past due
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Loans, past due		25,000
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans, past due
Consumer Portfolio Segment [Member]
Loans, past due
Loans, current	367,293	494,009
Loans	367,293	494,009
Loans, 90 days past due and still accruing
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Loans, past due
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Loans, past due
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans, past due

Note 4 - Loans - Impaired Loans

Note 4 - Loans - Impaired Loans (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Unpaid Contractual Principal Balance	$ 3,853,793
Recorded Investment With No Allowance	3,163,793
Recorded Investment With Allowance
Total Recorded Investment	3,163,793
Related Allowance
Average Recorded Investment	3,170,587
Interest Recognized	27,313
Commercial Real Estate Portfolio Segment [Member]
Unpaid Contractual Principal Balance	3,800,855	$ 3,867,381
Recorded Investment With No Allowance	3,110,855	3,177,381
Recorded Investment With Allowance
Total Recorded Investment	3,110,855	3,177,381
Related Allowance
Average Recorded Investment	3,144,118	4,180,282
Interest Recognized	26,589	$ 120,193
Residential Portfolio Segment [Member]
Unpaid Contractual Principal Balance	52,938
Recorded Investment With No Allowance	52,938
Recorded Investment With Allowance
Total Recorded Investment	52,938
Related Allowance
Average Recorded Investment	26,469
Interest Recognized	$ 724

Note 4 - Loans - Loans by Credi

Note 4 - Loans - Loans by Credit Grade (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Loans	$ 338,190,781	$ 343,940,842
Excellent [Member]
Loans	945,661	1,016,648
Above Average [Member]
Loans	5,038,870	4,915,980
Average [Member]
Loans	138,129,802	149,320,353
Acceptable [Member]
Loans	148,980,319	149,689,041
Pass [Member]
Loans	33,770,704	27,472,332
Special Mention [Member]
Loans
Substandard [Member]
Loans	11,305,012	11,448,021
Doubtful [Member]
Loans	20,413	78,467
Commercial Real Estate Portfolio Segment [Member]
Loans	236,794,302	238,834,149
Commercial Real Estate Portfolio Segment [Member] | Excellent [Member]
Loans
Commercial Real Estate Portfolio Segment [Member] | Above Average [Member]
Loans	3,491,312	3,632,231
Commercial Real Estate Portfolio Segment [Member] | Average [Member]
Loans	97,290,160	101,633,803
Commercial Real Estate Portfolio Segment [Member] | Acceptable [Member]
Loans	104,534,189	104,454,812
Commercial Real Estate Portfolio Segment [Member] | Pass [Member]
Loans	22,775,714	20,356,642
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member]
Loans
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member]
Loans	8,702,927	8,756,661
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member]
Loans
Construction and Land Development [Member]
Loans	15,914,131	18,265,505
Construction and Land Development [Member] | Excellent [Member]
Loans
Construction and Land Development [Member] | Above Average [Member]
Loans
Construction and Land Development [Member] | Average [Member]
Loans	5,865,774	8,190,212
Construction and Land Development [Member] | Acceptable [Member]
Loans	7,733,236	7,871,642
Construction and Land Development [Member] | Pass [Member]
Loans	2,315,121	2,203,651
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	63,019,749	63,024,106
Residential Portfolio Segment [Member] | Excellent [Member]
Loans	20,490	35,926
Residential Portfolio Segment [Member] | Above Average [Member]
Loans	1,416,824	1,178,899
Residential Portfolio Segment [Member] | Average [Member]
Loans	24,815,266	26,856,131
Residential Portfolio Segment [Member] | Acceptable [Member]
Loans	28,517,090	30,169,305
Residential Portfolio Segment [Member] | Pass [Member]
Loans	5,653,182	2,093,825
Residential Portfolio Segment [Member] | Special Mention [Member]
Loans
Residential Portfolio Segment [Member] | Substandard [Member]
Loans	2,596,897	2,690,020
Residential Portfolio Segment [Member] | Doubtful [Member]
Loans
Commercial Portfolio Segment [Member]
Loans	22,095,306	23,323,073
Commercial Portfolio Segment [Member] | Excellent [Member]
Loans	912,227	977,054
Commercial Portfolio Segment [Member] | Above Average [Member]
Loans	22,200	24,180
Commercial Portfolio Segment [Member] | Average [Member]
Loans	9,998,931	12,373,503
Commercial Portfolio Segment [Member] | Acceptable [Member]
Loans	8,135,261	7,130,122
Commercial Portfolio Segment [Member] | Pass [Member]
Loans	3,026,687	2,818,214
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	367,293	494,009
Consumer Portfolio Segment [Member] | Excellent [Member]
Loans	12,944	3,668
Consumer Portfolio Segment [Member] | Above Average [Member]
Loans	108,534	80,670
Consumer Portfolio Segment [Member] | Average [Member]
Loans	159,671	266,704
Consumer Portfolio Segment [Member] | Acceptable [Member]
Loans	60,543	63,160
Consumer Portfolio Segment [Member] | Pass [Member]
Loans
Consumer Portfolio Segment [Member] | Special Mention [Member]
Loans
Consumer Portfolio Segment [Member] | Substandard [Member]
Loans	5,188	1,340
Consumer Portfolio Segment [Member] | Doubtful [Member]
Loans	$ 20,413	$ 78,467

Note 4 - Loans - Allowance for

Note 4 - Loans - Allowance for Loan Losses (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Beginning balance	$ 2,509,334	$ 2,458,911	$ 2,458,911
Provision for loan losses	13,000	50,000	475,000
Charge offs		(10,622)	(702,115)
Recoveries	6,875	3,666	277,538
Ending balance	2,529,209	2,501,955	2,509,334
Allowance for loan losses, individually		28,577
Allowance for loan losses, collectively	2,529,209	2,473,378	2,509,334
Outstanding loan, individually	3,163,793	4,396,741	3,177,381
Outstanding loan, collectively	335,026,988	335,819,071	340,763,461
Commercial Real Estate Portfolio Segment [Member]
Beginning balance	1,754,372	1,867,397	1,867,397
Provision for loan losses	3,524	62,323	372,315
Charge offs			(690,000)
Recoveries	1,000	2,000	204,660
Ending balance	1,758,896	1,931,720	1,754,372
Allowance for loan losses, individually		28,577
Allowance for loan losses, collectively	1,758,896	1,903,143	1,754,372
Outstanding loan, individually	3,163,793	4,396,741	3,177,381
Outstanding loan, collectively	233,630,509	232,971,398	235,656,768
Construction and Land Development [Member]
Beginning balance	196,374	223,274	223,274
Provision for loan losses	(29,317)	16,225	(78,496)
Charge offs		(10,622)	(12,115)
Recoveries	3,375		63,711
Ending balance	170,432	228,877	196,374
Allowance for loan losses, individually
Allowance for loan losses, collectively	170,432	228,877	196,374
Outstanding loan, individually
Outstanding loan, collectively	15,914,131	19,247,095	18,265,505
Residential Portfolio Segment [Member]
Beginning balance	401,626	247,953	247,953
Provision for loan losses	32,059	(722)	153,673
Charge offs
Recoveries
Ending balance	433,685	247,231	401,626
Allowance for loan losses, individually
Allowance for loan losses, collectively	433,685	247,231	401,626
Outstanding loan, individually
Outstanding loan, collectively	63,019,749	59,083,653	63,024,106
Commercial Portfolio Segment [Member]
Beginning balance	102,610	87,353	87,353
Provision for loan losses	(3,482)	(2,648)	6,090
Charge offs
Recoveries	2,500	1,666	9,167
Ending balance	101,628	86,371	102,610
Allowance for loan losses, individually
Allowance for loan losses, collectively	101,628	86,371	102,610
Outstanding loan, individually
Outstanding loan, collectively	22,095,306	23,996,157	23,323,073
Consumer Portfolio Segment [Member]
Beginning balance	10,428	7,027	7,027
Provision for loan losses	(5,569)	729	3,401
Charge offs
Recoveries
Ending balance	4,859	7,756	10,428
Allowance for loan losses, individually
Allowance for loan losses, collectively	4,859	7,756	10,428
Outstanding loan, individually
Outstanding loan, collectively	367,293	520,768	494,009
Unallocated Financing Receivables [Member]
Beginning balance	43,924	25,907	25,907
Provision for loan losses	15,785	(25,907)	18,017
Charge offs
Recoveries
Ending balance	59,709		43,924
Allowance for loan losses, individually
Allowance for loan losses, collectively	59,709		43,924
Outstanding loan, individually
Outstanding loan, collectively

Note 5 - Lease Commitments (Det

Note 5 - Lease Commitments (Details Textual)	3 Months Ended
	Mar. 31, 2019USD ($)
Operating Lease, Cost	$ 47,807
Operating Lease, Weighted Average Remaining Lease Term	10 years 36 days
Operating Lease, Weighted Average Discount Rate, Percent	3.35%
Operating Lease, Payments	$ 36,724

Note 5 - Lease Commitments - Op

Note 5 - Lease Commitments - Operating Lease Assets and Liabilities (Details)	Mar. 31, 2019USD ($)
Operating Lease, Liability, Total	$ 1,503,737
Other Assets [Member]
Operating Lease, Right-of-Use Asset	1,366,490
Other Liabilities [Member]
Operating Lease, Liability, Total	$ 1,503,737

Note 5 - Lease Commitments - _2

Note 5 - Lease Commitments - Operating Lease Liabilities (Details)	Mar. 31, 2019USD ($)
2019	$ 103,387
2020	141,680
2021	146,120
2022	150,707
2023	155,447
Thereafter	911,769
Total lease payments	1,609,110
Less imputed interest	(105,373)
Operating Lease, Liability, Total	$ 1,503,737

Note 6 - Capital Standards (Det

Note 6 - Capital Standards (Details Textual)	Mar. 31, 2019	Dec. 31, 2018
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 6 - Capital Standards - Ca

Note 6 - Capital Standards - Capital Requirements (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Capital	$ 48,615	$ 47,857
Capital to Risk Weighted Assets	13.79%	13.50%
Capital Required for Capital Adequacy	$ 37,022	$ 34,996
Capital Required for Capital Adequacy to Risk Weighted Assets	10.50%	9.88%
Capital Required to be Well Capitalized	$ 35,259	$ 35,439
Capital Required to be Well Capitalized to Risk Weighted Assets	10.00%	10.00%
Tier One Risk Based Capital	$ 46,086	$ 45,348
Tier One Risk Based Capital to Risk Weighted Assets	13.07%	12.80%
Tier One Risk Based Capital Required for Capital Adequacy	$ 29,970	$ 27,908
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets	8.50%	7.88%
Tier One Risk Based Capital Required to be Well Capitalized	$ 28,207	$ 28,351
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets	8.00%	8.00%
Common Equity Tier One Capital	$ 46,086	$ 45,348
Common Equity Tier One Capital Ratio	13.07%	12.80%
Common Equity Tier One Capital Required for Capital Adequacy	$ 24,681	$ 22,593
Common Equity Tier One Capital Required for Capital Adequacy Ratio	7.00%	6.38%
Common Equity Tier One Capital Required to be Well-Capitalized	$ 22,918	$ 23,036
Common Equity Tier One Capital Required to be Well Capitalized Ratio	6.50%	6.50%
Tier One Leverage Capital	$ 46,086	$ 45,348
Tier One Leverage Capital to Average Assets	10.97%	10.86%
Tier One Leverage Capital Required for Capital Adequacy	$ 16,812	$ 16,698
Tier One Leverage Capital Required for Capital Adequacy to Average Assets	4.00%	4.00%
Tier One Leverage Capital Required to be Well Capitalized	$ 21,015	$ 20,872
Tier One Leverage Capital Required to be Well Capitalized to Average Assets	5.00%	5.00%

Note 7 - Fair Value (Details Te

Note 7 - Fair Value (Details Textual)	3 Months Ended
	Mar. 31, 2019
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 7 - Fair Value - Summarize

Note 7 - Fair Value - Summarizes Financial Assets Measured at Fair Value (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Fair value, available for sale	$ 30,601,771	$ 26,591,991
Equity security at fair value	514,717	503,827
Mutual fund	514,717	503,827
Fair Value, Recurring [Member]
Fair value, available for sale	30,601,771	26,591,991
Equity security at fair value	514,717
Mutual fund	514,717
Fair Value, Nonrecurring [Member]
Other real estate owned	210,150	210,150
Impaired loans	3,163,793	3,177,381
Fair Value, Inputs, Level 1 [Member]
Equity security at fair value		503,827
Mutual fund		503,827
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale
Equity security at fair value	514,717
Mutual fund	514,717
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member]
Other real estate owned
Impaired loans
Fair Value, Inputs, Level 2 [Member]
Equity security at fair value
Mutual fund
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	30,601,771	26,591,991
Equity security at fair value
Mutual fund
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member]
Other real estate owned
Impaired loans
Fair Value, Inputs, Level 3 [Member]
Equity security at fair value
Mutual fund
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale
Equity security at fair value
Mutual fund
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member]
Other real estate owned	210,150	210,150
Impaired loans	3,163,793	3,177,381
US States and Political Subdivisions Debt Securities [Member]
Fair value, available for sale	1,133,290	1,506,505
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	1,133,290	1,506,505
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	1,133,290	1,506,505
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale
SBA Pools [Member]
Fair value, available for sale	2,604,110	2,719,372
SBA Pools [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	2,604,110	2,719,372
SBA Pools [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale
SBA Pools [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	2,604,110	2,719,372
SBA Pools [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale
Collateralized Mortgage Backed Securities [Member]
Fair value, available for sale	26,864,371	22,366,114
Collateralized Mortgage Backed Securities [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	26,864,371	22,366,114
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	26,864,371	22,366,114
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale

Note 7 - Fair Value - Estimated

Note 7 - Fair Value - Estimated Fair Value of Financial Instruments (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Fair value, held to maturity	$ 18,236,185	$ 18,033,093
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value, held to maturity	18,065,993	18,127,067
Mortgage loans held for sale	417,465	573,638
Federal Home Loan Bank stock	503,700	575,800
Interest-bearing deposits	304,755,581	291,995,483
Federal Home Loan Bank advances	3,000,000	3,000,000
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Loans, net	335,142,379	340,900,635
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Noninterest-bearing deposits	60,431,904	62,717,520
Securities sold under repurchase agreements	9,132,795	11,012,000
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value, held to maturity	18,236,185	18,033,093
Mortgage loans held for sale	426,075	582,248
Federal Home Loan Bank stock	503,700	575,800
Interest-bearing deposits	297,345,581	281,761,483
Federal Home Loan Bank advances	2,983,000	2,971,000
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Loans, net	331,705,398	337,385,842
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Noninterest-bearing deposits	60,431,904	62,717,520
Securities sold under repurchase agreements	$ 9,132,795	$ 11,012,000

Note 8 - Earnings Per Share - B

Note 8 - Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Net income	$ 1,096,287	$ 1,122,118
Weighted average shares outstanding (in shares)	1,682,997	1,667,833
Earnings per share - basic and diluted (in dollars per share)	$ 0.65	$ 0.67

Note 9 - Retirement Plans (Deta

Note 9 - Retirement Plans (Details Textual)	3 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)
Number of Employees Covered by Life Insurance Policy	12
Other Postretirement Benefits Cost (Reversal of Cost)	$ 1,468	$ 1,418
Employee Benefits and Share-based Compensation	$ 381,964	367,454
Supplemental Employee Retirement Plan [Member]
Number of Employees Participating in Plan	3
Employee Benefits and Share-based Compensation	$ 30,600	60,000
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	$ 61,817	$ 48,654