Farmers and Merchants Bancshares (FMFG) 10-Q 8 Aug 19 2019 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 09, 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)		1,691,091
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false
Title of 12(b) Security	Common Stock

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Assets:
Cash and due from banks	$ 19,434,418	$ 11,480,608
Federal funds sold and other interest-bearing deposits	3,221,403	3,137,629
Cash and cash equivalents	22,655,821	14,618,237
Certificate of deposit in other bank	100,000	100,000
Securities available for sale	36,098,444	26,591,991
Securities held to maturity	19,411,483	18,127,067
Equity security at fair value	524,710	503,827
Federal Home Loan Bank stock, at cost	503,700	575,800
Mortgage loans held for sale	972,750	573,638
Loans, less allowance for loan losses of $2,551,125 and $2,509,334	340,171,316	340,900,635
Premises and equipment	4,969,930	5,075,310
Accrued interest receivable	1,006,419	990,529
Deferred income taxes	981,334	1,179,454
Other real estate owned		210,150
Bank owned life insurance	7,063,146	7,053,354
Other assets	1,989,743	657,885
	436,448,796	417,157,877
Deposits:
Noninterest-bearing	61,009,944	62,717,520
Interest-bearing	311,165,456	291,995,483
Total deposits	372,175,400	354,713,003
Securities sold under repurchase agreements	8,789,585	11,012,000
Federal Home Loan Bank of Atlanta advances	3,000,000	3,000,000
Accrued interest payable	580,101	311,489
Other liabilities	4,168,677	2,726,678
	388,713,763	371,763,170
Stockholders' equity:
Common stock, par value $.01 per share, authorized 5,000,000 shares; issued and outstanding 1,691,091 in 2019 and 1,682,997 shares in 2018	16,911	16,830
Additional paid-in capital	27,561,593	27,324,794
Retained earnings	20,111,524	18,621,382
Accumulated other comprehensive income	45,005	(568,299)
	47,735,033	45,394,707
	$ 436,448,796	$ 417,157,877

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Allowance for loan losses	$ 2,551,125	$ 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)	1,691,091	1,682,997
Common stock, share outstanding (in shares)	1,691,091	1,682,997

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Interest income:
Loans, including fees	$ 4,172,235	$ 4,048,984	$ 8,332,321	$ 7,982,139
Investment securities - taxable	222,272	149,998	397,108	304,858
Investment securities - tax exempt	143,125	142,799	281,213	285,562
Federal funds sold and other interest earning assets	121,824	43,725	196,350	70,693
Total interest income	4,659,456	4,385,506	9,206,992	8,643,252
Interest expense:
Deposits	885,246	499,916	1,660,777	938,326
Securities sold under repurchase agreements	28,423	35,012	53,722	69,401
Federal Home Loan Bank advances and other borrowings	11,195	45,985	31,748	108,947
Total interest expense	924,864	580,913	1,746,247	1,116,674
Net interest income	3,734,592	3,804,593	7,460,745	7,526,578
Provision for loan losses		75,000	13,000	125,000
Net interest income after provision for loan losses	3,734,592	3,729,593	7,447,745	7,401,578
Noninterest income:
Mortgage banking income	72,879	60,468	105,598	114,661
Bank owned life insurance income	242,012	40,489	9,792	80,394
Unrealized gain (loss) on equity security	6,911	(12,439)	14,756	(11,479)
Write down of other real estate owned	(210,150)		(210,150)
Gain on sale of SBA loans	9,520		139,535	60,508
Total noninterest income	323,233	290,496	715,629	631,611
Noninterest expense:
Salaries	1,309,007	1,264,702	2,635,790	2,548,212
Employee benefits	314,145	322,568	696,109	690,022
Occupancy	190,543	189,156	404,963	366,689
Furniture and equipment	155,933	165,392	311,080	327,008
Other	639,568	687,062	1,316,540	1,326,239
Total noninterest expense	2,609,196	2,628,880	5,364,482	5,258,170
Income before income taxes	1,448,629	1,391,209	2,798,892	2,775,019
Income taxes	222,808	245,962	476,784	507,836
Net income	$ 1,225,821	$ 1,145,247	$ 2,322,108	$ 2,267,183
Earnings per share - basic and diluted (in dollars per share)	$ 0.73	$ 0.69	$ 1.38	$ 1.36
Deposit Account [Member]
Noninterest income:
Noninterest revenue	$ 166,115	$ 173,888	$ 318,175	$ 335,728
Financial Service, Other [Member]
Noninterest income:
Noninterest revenue	$ 35,946	$ 28,090	$ 65,317	$ 51,799

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Net income	$ 1,225,821	$ 1,145,247	$ 2,322,108	$ 2,267,183
Securities available for sale
Net unrealized gain (loss) arising during the period	433,834	(107,478)	846,140	(419,439)
Income tax expense (benefit)	119,380	(29,576)	232,836	(115,419)
Total other comprehensive income (loss)	314,454	(77,902)	613,304	(304,020)
Total comprehensive income	$ 1,540,275	$ 1,067,345	$ 2,935,412	$ 1,963,163

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			2,267,183		2,267,183
Unrealized gain (loss) on securities available for sale net of income tax expense (benefit)				(304,020)	(304,020)
Reclassification due to adoption of ASU No. 2016-01 | Accounting Standards Update 2016-01 [Member]			(10,416)	10,416
Cash dividends			(667,145)		(667,145)
Dividends reinvested (in shares)	7,338
Dividends reinvested	$ 73	215,359			215,432
Balance (in shares) at Jun. 30, 2018	1,675,151
Balance at Jun. 30, 2018	$ 16,751	27,085,155	16,896,247	(687,771)	43,310,382
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			2,322,108		2,322,108
Unrealized gain (loss) on securities available for sale net of income tax expense (benefit)				613,304	613,304
Cash dividends			(740,519)		(740,519)
Dividends reinvested (in shares)	8,094
Dividends reinvested	$ 81	236,799			236,880
Adjustment due to adoption of ASU No. 2016-02			(91,447)		(91,447)
Balance (in shares) at Jun. 30, 2019	1,691,091
Balance at Jun. 30, 2019	$ 16,911	$ 27,561,593	$ 20,111,524	$ 45,005	$ 47,735,033

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Unaudited Except for Year-end Amounts) (Parentheticals) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Unrealized gain (loss) on securities available for sale, tax expense (benefit)	$ 232,836	$ (115,419)
Cash dividends (in dollars per share)	$ 0.44	$ 0.40

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities
Interest received	$ 9,156,111	$ 8,608,553
Fees and commissions received	765,151	502,188
Interest paid	(1,477,635)	(1,034,881)
Proceeds from sale of mortgage loans held for sale	4,924,657	4,785,472
Origination of mortgage loans held for sale	(5,323,769)	(5,722,937)
Cash paid to suppliers and employees	(5,410,566)	(4,751,554)
Income taxes paid, net of refunds received	(249,711)	(614,760)
	2,384,238	1,772,081
Cash flows from investing activities
Available for sale	(2,923,369)	(2,674,444)
Held to maturity	500,000
Available for sale	(11,643,636)
Held to maturity	(1,770,815)
Purchase of certificate of deposit		(242,000)
Loans made to customers, net of principal collected	(701,101)	(12,062,675)
Proceeds from sale of loans	1,582,364	668,508
(Purchase) redemption of stock in FHLB of Atlanta	72,100	381,500
Purchases of premises, equipment and software	(45,278)	(136,117)
	(9,082,997)	(8,716,340)
Cash flows from financing activities
Noninterest-bearing deposits	(1,707,576)	(1,481,474)
Interest-bearing deposits	19,169,973	21,960,936
Securities sold under repurchase agreements	(2,222,415)	(3,246,645)
Federal Home Loan Bank of Atlanta advances (repayments)		(9,500,000)
Dividends paid, net of reinvestments	(503,639)	(451,713)
Common stock issued		1,550
	14,736,343	7,282,654
Net increase (decrease) in cash and cash equivalents	8,037,584	338,395
Cash and cash equivalents at beginning of period	14,618,237	7,237,385
Cash and cash equivalents at end of period	22,655,821	7,575,780
Reconciliation of net income to net cash provided by operating activities
Net income	2,322,108	2,267,183
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	176,885	194,595
Provision for loan losses	13,000	125,000
Lease expense in excess of rent paid	20,273
Write down of other real estate owned	210,150
Equity security dividend reinvested	(6,127)	(5,481)
Unrealized (gain) loss on equity security	(14,756)	11,479
Gain on sale of loans	(139,535)	(60,508)
Decrease (increase) in mortgage loans held for sale	(399,112)	(937,465)
Amortization of premiums and accretion of discounts, net	46,353	69,248
Increase (decrease) in
Deferred loan fees	(25,409)	(10,665)
Accrued interest payable	268,612	81,793
Other liabilities	(36,563)	191,266
Decrease (increase) in
Accrued interest receivable	(15,890)	(18,553)
Bank owned life insurance cash surrender value	(9,792)	(80,394)
Other assets	(25,959)	(55,417)
	$ 2,384,238	$ 1,772,081

Note 1 - Principles of Consolid

Note 1 - Principles of Consolidation	6 Months Ended
	Jun. 30, 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	6 Months Ended
	Jun. 30, 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 six June 30, 2019 not may December 31, 2019 December 31, 2018, 10 Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) No. 2016 - 02, “Leases (Topic 841 ).” Among other things, in the amendments in ASU 2016 - 02, lessees are required to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (i) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (ii) a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Under the new guidance, lessor accounting is largely unchanged. Certain targeted improvements were made to align, where necessary, lessor accounting with the lessee accounting model and Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Lessees (for capital and operating leases) and lessors (for sales-type, direct financing, and operating leases) must apply a modified retrospective transition approach for leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The modified retrospective approach would not require any transition accounting for leases that expired before the earliest comparative period presented. Lessees and lessors may not apply a full retrospective transition approach. The Company adopted the provisions of ASU 2016 - 02, effective January 1, 2019, by recording an asset of $1,400,855, a liability of $1,527,019, a $91,447 adjustment to retained earnings, and a $34,717 adjustment to deferred income taxes. In June 2016, the FASB issued ASU 2016 - 13, “Financial Instruments – Credit Losses”. The ASU sets forth a “current expected credit loss” (CECL) model which requires the Company to measure all expected credit losses for financial instruments held at the reporting date based on historical experience, current conditions, and reasonable supportable forecasts. This replaces the existing incurred loss model and is applicable to the measurement of credit losses on financial assets measured at amortized cost and applies to some off-balance sheet credit exposures. This ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. However, in July 2019, the FASB proposed extending the implementation date to 2023 for SEC registered smaller reporting companies and private companies. The Company is considered a smaller reporting company. The proposal is expected to be enacted before the end of 2019. The Company has engaged a third -party vendor to assist in the implementation of this ASU. In August 2018, the FASB issued ASU 2018 - 13, “Fair Value Measurement (Topic 820 ) - Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement.” ASU 2018 - 13 modifies the disclosure requirements on fair value measurements in ASC Topic 820. The amendments in this update remove disclosures that no longer are considered cost beneficial, modify/clarify the specific requirements of certain disclosures, and add disclosure requirements identified as relevant. ASU 2018 - 13 will be effective for us on January 1, 2020, with early adoption permitted, and is not expected to have a material impact on the Company’s financial statements. In August 2018, the FASB issued ASU 2018 - 14, “Compensation - Retirement Benefits-Defined Benefit Plans-General (Subtopic 715 - 20 ).” ASU 2018 - 14 amends and modifies the disclosure requirements for employers that sponsor defined benefit pension or other post-retirement plans. The amendments in this update remove disclosures that no longer are considered cost beneficial, clarify the specific requirements of disclosures, and add disclosure requirements identified as relevant. ASU 2018 - 14 will be effective for us on January 1, 2021, with early adoption permitted, and is not expected to have a material impact on the Company’s financial statements. In August 2018, the FASB issued ASU 2018 - 15, “Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350 - 40 ) - Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract.” ASU 2018 - 15 clarifies certain aspects of ASU 2015 - 05, “Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement,” which was issued in April 2015. Specifically, ASU 2018 - 15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). ASU 2018 - 15 does not affect the accounting for the service element of a hosting arrangement that is a service contract. ASU 2018 - 15 will be effective for us on January 1, 2020, with early adoption permitted, and is not expected to have a material impact on the Company’s financial statements.

Note 3 - Investment Securities

Note 3 - Investment Securities	6 Months Ended
	Jun. 30, 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 June 30, 2019 cost gains losses value Available for sale State and municipal $ 1,379,487 $ 5,960 $ 412 $ 1,385,035 SBA pools 2,544,930 - 48,999 2,495,931 Mortgage-backed securities 32,111,936 299,312 193,770 32,217,478 $ 36,036,353 $ 305,272 $ 243,181 $ 36,098,444 Held to maturity State and municipal $ 19,411,483 $ 423,557 $ 3,664 $ 19,831,376 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 June 30, 2019 cost value cost value Within one year $ - $ - $ 501,088 $ 501,885 Over one to five years 259,374 259,428 588,860 595,799 Over five to ten years 1,120,113 1,125,607 2,947,579 3,020,446 Over ten years - - 15,373,956 15,713,246 1,379,487 1,385,035 19,411,483 19,831,376 Mortgage-backed securities and SBA pools, due in monthly installments 34,656,866 34,713,409 - - $ 36,036,353 $ 36,098,444 $ 19,411,483 $ 19,831,376 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 $ 9,200,129 $11,706,765 June 30, 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 June 30, 2019 December 31, 2018. June 30, 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 $ 711,400 $ 1,429 $ 551,586 $ 2,647 $ 1,262,986 $ 4,076 SBA pools - - 2,465,699 48,999 2,465,699 48,999 Mortgage-backed securities 1,667,716 200 13,427,832 193,570 15,095,548 193,770 Total $ 2,379,116 $ 1,629 $ 16,445,117 $ 245,216 $ 18,824,233 $ 246,845 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 June 30, 2019 December 31, 2018, not June 30, 2019 December 31, 2018, not

Note 4 - Loans

Note 4 - Loans	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	4. Loans Major categories of loans are as follows: June 30, December 31, 2019 2018 Real estate: Commercial $ 237,294,916 $ 238,834,149 Construction and land development 16,384,252 18,265,505 Residential 67,471,222 63,024,106 Commercial 21,769,797 23,323,073 Consumer 307,718 494,009 343,227,905 343,940,842 Less: Allowance for loan losses 2,551,125 2,509,334 Deferred origination fees net of costs 505,464 530,873 $ 340,171,316 $ 340,900,635 Non-accrual loans, segregated by class of loans, were as follows: June 30, December 31, 2019 2018 Commercial real estate $ - $ 988,811 At June 30, 2019, no At December 31, 2018, two $988,811. $115,168 December 31, 2018 $0 $690,000 December 31, 2018. three June 30, 2019 $15,299. 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 June 30, 2019 Real estate: Commercial $ - $ - $ - $ - $ 237,294,916 $ 237,294,916 $ - Construction and land development - - - - 16,384,252 16,384,252 - Residential 56,067 205,139 - 261,206 67,210,016 67,471,222 - Commercial - - - - 21,769,797 21,769,797 - Consumer - - - - 307,718 307,718 - Total $ 56,067 $ 205,139 $ - $ 261,206 $ 342,966,699 $ 343,227,905 $ - 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 six June 30, 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 June 30, 2019 Real estate: Commercial $ 2,109,945 $ 2,109,945 $ - $ 2,109,945 $ - $ 2,643,663 $ 53,312 Residential 51,870 51,870 - 51,870 - 25,935 1,442 $ 2,161,815 $ 2,161,815 $ - $ 2,161,815 $ - $ 2,669,598 $ 54,754 December 31, 2018 Commercial real estate $ 3,867,381 $ 3,177,381 $ - $ 3,177,381 $ - $ 4,180,282 $ 120,193 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 June 30, 2019, one $2, 109,945 one $ 51,870 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 in a substandard loan with the added characteristic that the weaknesses, based on currently existing facts, conditions, and values, make collection or liquidation in full highly questionable and improbable. Loans by credit grade, segregated by loan type, are as follows: Above Pass Special June 30, 2019 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ 3,293,941 $ 95,754,466 $ 106,162,538 $ 23,068,185 $ - $ 9,015,786 $ - $ 237,294,916 Construction and land development - 135,000 6,191,715 6,782,514 3,275,023 - - - 16,384,252 Residential 17,804 1,568,259 25,319,845 31,361,216 6,635,674 - 2,568,424 - 67,471,222 Commercial 198,810 65,206 10,431,303 8,220,594 2,853,884 - - - 21,769,797 Consumer 12,022 105,518 111,716 57,906 - - 840 19,716 307,718 $ 228,636 $ 5,167,924 $ 137,809,045 $ 152,584,768 $ 35,832,766 $ - $ 11,585,050 $ 19,716 $ 343,227,905 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 six June 30, 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: June 30, 2019 balance losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 1,754,372 $ (17,650 ) $ - $ 17,799 $ 1,754,521 $ - $ 1,754,521 $ 2,109,945 $ 235,184,971 Construction and land development 196,374 (26,548 ) - 6,826 176,652 - 176,652 - 16,384,252 Residential 401,626 51,910 - - 453,536 - 453,536 51,870 67,419,352 Commercial 102,610 (10,999 ) - 4,166 95,777 - 95,777 - 21,769,797 Consumer 10,428 (7,134 ) - - 3,294 - 3,294 - 307,718 Unallocated 43,924 23,421 - - 67,345 - 67,345 - - $ 2,509,334 $ 13,000 $ - $ 28,791 $ 2,551,125 $ - $ 2,551,125 $ 2,161,815 $ 341,066,090 Allowance for loan losses Outstanding loan Provision ending balance evaluated balances evaluated Beginning for loan Charge Ending for impairment: for impairment: June 30, 2018 balance losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 1,867,397 $ 39,796 $ - $ 154,500 $ 2,061,693 $ 225,701 $ 1,835,992 $ 3,852,180 $ 238,264,389 Construction and land development 223,274 34,898 (10,622 ) - 247,550 - 247,550 - 22,494,576 Residential 247,953 7,914 - - 255,867 - 255,867 - 59,418,252 Commercial 87,353 (7,632 ) - 4,166 83,887 - 83,887 - 22,675,755 Consumer 7,027 (173 ) - - 6,854 - 6,854 - 493,483 Unallocated 25,907 50,197 - - 76,104 - 76,104 - - $ 2,458,911 $ 125,000 $ (10,622 ) $ 158,666 $ 2,731,955 $ 225,701 $ 2,506,254 $ 3,852,180 $ 343,346,455 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	6 Months Ended
	Jun. 30, 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 June 30, 2019: Consolidated Balance Sheet classification June 30, 2019 Operating lease right of use asset Other assets $ 1,332,126 Operating lease liabilities Other liabilities $ 1,478,562 Operating lease cost included in occupancy expense in the statement of income for the three six June 30, 2019 $46,414 $94,221, 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 $ 69,391 2020 141,680 2021 146,120 2022 150,707 2023 155,447 Thereafter 911,769 Total lease payments 1,575,114 Less imputed interest (96,552 ) Present value of operating lease liabilities $ 1,478,562 For operating leases as of June 30, 2019, 9.9 3.36%. three six June 30, 2019, $37,224 $73,948,

Note 6 - Capital Standards

Note 6 - Capital Standards	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Regulatory Capital Requirements under Banking Regulations [Text Block]	6. Capital Standards Farmers and Merchants Bancshares, Inc. 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%. The implementation of the capital conservation buffer began on January 1, 2016, 0.625% four January 1, 2.5% January 1, 2019 not June 30, 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 following table presents actual and required capital ratios as of June 30, 2019 December 31, 2018, June 30, 2019 December 31, 2018 Minimum Capital Adequacy To Be Well (Dollars in thousands) Actual Phase-In Schedule Capitalized June 30, 2019 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 49,098 13.92 % $ 37,046 10.50 % $ 35,282 10.00 % Tier 1 capital (to risk-weighted assets) 46,547 13.19 % 29,990 8.50 % 28,226 8.00 % Common equity tier 1 (to risk- weighted assets) 46,547 13.19 % 24,697 7.00 % 22,933 6.50 % Tier 1 leverage (to average assets) 46,547 10.76 % 17,307 4.00 % 21,633 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 % To be categorized as well capitalized, the Bank must maintain ratios as set forth in the table. As of June 30, 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	6 Months Ended
	Jun. 30, 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 ● 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 June 30, 2019 December 31, 2018, Carrying Value: Level 1 Level 2 Level 3 Total June 30, 2019 Recurring Available for sale securities State and municipal $ - $ 1,385,035 $ - $ 1,385,035 SBA pools - 2,495,931 - 2,495,931 Mortgage-backed securities - 32,217,478 - 32,217,478 $ - $ 36,098,444 $ - $ 36,098,444 Equity security at fair value Mutual fund $ 524,710 $ - $ - $ 524,710 Nonrecurring Impaired loans - - 2,161,815 2,161,815 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: June 30, 2019 December 31, 2018 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets Level 2 inputs Securities held to maturity $ 19,411,483 $ 19,831,376 $ 18,127,067 $ 18,033,093 Mortgage loans held for sale 972,750 987,697 573,638 582,248 Federal Home Loan Bank stock 503,700 503,700 575,800 575,800 Level 3 inputs Loans, net 340,171,316 339,362,905 340,900,635 337,385,842 Financial liabilities Level 1 inputs Noninterest-bearing deposits $ 61,009,944 $ 61,009,944 $ 62,717,520 $ 62,717,520 Securities sold under repurchase agreements 8,789,585 8,789,585 11,012,000 11,012,000 Level 2 inputs Interest-bearing deposits 311,165,456 308,365,456 291,995,483 281,761,483 Federal Home Loan Bank advances 3,000,000 2,994,000 3,000,000 2,971,000 The fair value of mortgage loans held for sale is determined by the expected sales price. Beginning in the first 2019, 2016 01, first 2019. 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	6 Months Ended
	Jun. 30, 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 six June 30, 2019 2018. no three six June 30, 2019 2018. Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Net income $ 1,225,821 $ 1,145,247 $ 2,322,108 $ 2,267,183 Weighted average shares outstanding 1,683,175 1,667,943 1,683,087 1,667,889 Earnings per share - basic and diluted $ 0.73 $ 0.69 $ 1.38 $ 1.36

Note 9 - Retirement Plans

Note 9 - Retirement Plans	6 Months Ended
	Jun. 30, 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% $ 40,776 $39,334 three June 30, 2019 2018, $ 102,5 93 $87,988 six June 30, 2019 2018, The Company has entered into agreements with 12 $1,4 68 $1,419 three June 30, 2019 2018, $ 2,936 $2,837 six June 30, 2019 2018, The Company adopted supplemental executive retirement plans for three $ 30,600 $60,000 three June 30, 2019 2018, $ 61,200 $120,000 six June 30, 2019 2018, Retirement plan expenses are included in employee benefits on the consolidated statements of income.

Note 10 - Subsequent Events

Note 10 - Subsequent Events	6 Months Ended
	Jun. 30, 2019
Notes to Financial Statements
Subsequent Events [Text Block]	1 0 . 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)	6 Months Ended
	Jun. 30, 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, July 2019, 2023 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)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Marketable Securities [Table Text Block]	Amortized Unrealized Unrealized Fair June 30, 2019 cost gains losses value Available for sale State and municipal $ 1,379,487 $ 5,960 $ 412 $ 1,385,035 SBA pools 2,544,930 - 48,999 2,495,931 Mortgage-backed securities 32,111,936 299,312 193,770 32,217,478 $ 36,036,353 $ 305,272 $ 243,181 $ 36,098,444 Held to maturity State and municipal $ 19,411,483 $ 423,557 $ 3,664 $ 19,831,376 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 June 30, 2019 cost value cost value Within one year $ - $ - $ 501,088 $ 501,885 Over one to five years 259,374 259,428 588,860 595,799 Over five to ten years 1,120,113 1,125,607 2,947,579 3,020,446 Over ten years - - 15,373,956 15,713,246 1,379,487 1,385,035 19,411,483 19,831,376 Mortgage-backed securities and SBA pools, due in monthly installments 34,656,866 34,713,409 - - $ 36,036,353 $ 36,098,444 $ 19,411,483 $ 19,831,376 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]	June 30, 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 $ 711,400 $ 1,429 $ 551,586 $ 2,647 $ 1,262,986 $ 4,076 SBA pools - - 2,465,699 48,999 2,465,699 48,999 Mortgage-backed securities 1,667,716 200 13,427,832 193,570 15,095,548 193,770 Total $ 2,379,116 $ 1,629 $ 16,445,117 $ 245,216 $ 18,824,233 $ 246,845 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)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	June 30, December 31, 2019 2018 Real estate: Commercial $ 237,294,916 $ 238,834,149 Construction and land development 16,384,252 18,265,505 Residential 67,471,222 63,024,106 Commercial 21,769,797 23,323,073 Consumer 307,718 494,009 343,227,905 343,940,842 Less: Allowance for loan losses 2,551,125 2,509,334 Deferred origination fees net of costs 505,464 530,873 $ 340,171,316 $ 340,900,635
Financing Receivable, Nonaccrual [Table Text Block]	June 30, December 31, 2019 2018 Commercial real estate $ - $ 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 June 30, 2019 Real estate: Commercial $ - $ - $ - $ - $ 237,294,916 $ 237,294,916 $ - Construction and land development - - - - 16,384,252 16,384,252 - Residential 56,067 205,139 - 261,206 67,210,016 67,471,222 - Commercial - - - - 21,769,797 21,769,797 - Consumer - - - - 307,718 307,718 - Total $ 56,067 $ 205,139 $ - $ 261,206 $ 342,966,699 $ 343,227,905 $ - 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 June 30, 2019 Real estate: Commercial $ 2,109,945 $ 2,109,945 $ - $ 2,109,945 $ - $ 2,643,663 $ 53,312 Residential 51,870 51,870 - 51,870 - 25,935 1,442 $ 2,161,815 $ 2,161,815 $ - $ 2,161,815 $ - $ 2,669,598 $ 54,754 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 June 30, 2019 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ 3,293,941 $ 95,754,466 $ 106,162,538 $ 23,068,185 $ - $ 9,015,786 $ - $ 237,294,916 Construction and land development - 135,000 6,191,715 6,782,514 3,275,023 - - - 16,384,252 Residential 17,804 1,568,259 25,319,845 31,361,216 6,635,674 - 2,568,424 - 67,471,222 Commercial 198,810 65,206 10,431,303 8,220,594 2,853,884 - - - 21,769,797 Consumer 12,022 105,518 111,716 57,906 - - 840 19,716 307,718 $ 228,636 $ 5,167,924 $ 137,809,045 $ 152,584,768 $ 35,832,766 $ - $ 11,585,050 $ 19,716 $ 343,227,905 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: June 30, 2019 balance losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 1,754,372 $ (17,650 ) $ - $ 17,799 $ 1,754,521 $ - $ 1,754,521 $ 2,109,945 $ 235,184,971 Construction and land development 196,374 (26,548 ) - 6,826 176,652 - 176,652 - 16,384,252 Residential 401,626 51,910 - - 453,536 - 453,536 51,870 67,419,352 Commercial 102,610 (10,999 ) - 4,166 95,777 - 95,777 - 21,769,797 Consumer 10,428 (7,134 ) - - 3,294 - 3,294 - 307,718 Unallocated 43,924 23,421 - - 67,345 - 67,345 - - $ 2,509,334 $ 13,000 $ - $ 28,791 $ 2,551,125 $ - $ 2,551,125 $ 2,161,815 $ 341,066,090 Allowance for loan losses Outstanding loan Provision ending balance evaluated balances evaluated Beginning for loan Charge Ending for impairment: for impairment: June 30, 2018 balance losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 1,867,397 $ 39,796 $ - $ 154,500 $ 2,061,693 $ 225,701 $ 1,835,992 $ 3,852,180 $ 238,264,389 Construction and land development 223,274 34,898 (10,622 ) - 247,550 - 247,550 - 22,494,576 Residential 247,953 7,914 - - 255,867 - 255,867 - 59,418,252 Commercial 87,353 (7,632 ) - 4,166 83,887 - 83,887 - 22,675,755 Consumer 7,027 (173 ) - - 6,854 - 6,854 - 493,483 Unallocated 25,907 50,197 - - 76,104 - 76,104 - - $ 2,458,911 $ 125,000 $ (10,622 ) $ 158,666 $ 2,731,955 $ 225,701 $ 2,506,254 $ 3,852,180 $ 343,346,455 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)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Schedule of Components of Lease Assets and Liabilities [Table Text Block]	Consolidated Balance Sheet classification June 30, 2019 Operating lease right of use asset Other assets $ 1,332,126 Operating lease liabilities Other liabilities $ 1,478,562
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Year Amount 2019 $ 69,391 2020 141,680 2021 146,120 2022 150,707 2023 155,447 Thereafter 911,769 Total lease payments 1,575,114 Less imputed interest (96,552 ) Present value of operating lease liabilities $ 1,478,562

Note 6 - Capital Standards (Tab

Note 6 - Capital Standards (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2019 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 49,098 13.92 % $ 37,046 10.50 % $ 35,282 10.00 % Tier 1 capital (to risk-weighted assets) 46,547 13.19 % 29,990 8.50 % 28,226 8.00 % Common equity tier 1 (to risk- weighted assets) 46,547 13.19 % 24,697 7.00 % 22,933 6.50 % Tier 1 leverage (to average assets) 46,547 10.76 % 17,307 4.00 % 21,633 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)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	Carrying Value: Level 1 Level 2 Level 3 Total June 30, 2019 Recurring Available for sale securities State and municipal $ - $ 1,385,035 $ - $ 1,385,035 SBA pools - 2,495,931 - 2,495,931 Mortgage-backed securities - 32,217,478 - 32,217,478 $ - $ 36,098,444 $ - $ 36,098,444 Equity security at fair value Mutual fund $ 524,710 $ - $ - $ 524,710 Nonrecurring Impaired loans - - 2,161,815 2,161,815 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]	June 30, 2019 December 31, 2018 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets Level 2 inputs Securities held to maturity $ 19,411,483 $ 19,831,376 $ 18,127,067 $ 18,033,093 Mortgage loans held for sale 972,750 987,697 573,638 582,248 Federal Home Loan Bank stock 503,700 503,700 575,800 575,800 Level 3 inputs Loans, net 340,171,316 339,362,905 340,900,635 337,385,842 Financial liabilities Level 1 inputs Noninterest-bearing deposits $ 61,009,944 $ 61,009,944 $ 62,717,520 $ 62,717,520 Securities sold under repurchase agreements 8,789,585 8,789,585 11,012,000 11,012,000 Level 2 inputs Interest-bearing deposits 311,165,456 308,365,456 291,995,483 281,761,483 Federal Home Loan Bank advances 3,000,000 2,994,000 3,000,000 2,971,000

Note 8 - Earnings Per Share (Ta

Note 8 - Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three months ended June 30, Six months ended June 30, 2019 2018 2019 2018 Net income $ 1,225,821 $ 1,145,247 $ 2,322,108 $ 2,267,183 Weighted average shares outstanding 1,683,175 1,667,943 1,683,087 1,667,889 Earnings per share - basic and diluted $ 0.73 $ 0.69 $ 1.38 $ 1.36

Note 1 - Principles of Consol_2

Note 1 - Principles of Consolidation (Details Textual)	6 Months Ended
	Jun. 30, 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 ($)	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Operating Lease, Liability, Total	$ 1,478,562
Deferred Income Tax Assets, Net, Total	$ 981,334		$ 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 ($)	Jun. 30, 2019	Dec. 31, 2018
Security Owned and Pledged as Collateral, Fair Value, Total	$ 9,200,129	$ 11,706,765

Note 3 - Investment Securitie_3

Note 3 - Investment Securities - Investments in Debt Securities (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Amortized cost, available for sale	$ 36,036,353	$ 27,376,040
Unrealized gains, available for sale	305,272	44,755
Unrealized losses, available for sale	243,181	828,804
Fair value, available for sale	36,098,444	26,591,991
Amortized cost, held to maturity	19,411,483	18,127,067
Fair value, held to maturity	19,831,376	18,033,093
US States and Political Subdivisions Debt Securities [Member]
Amortized cost, available for sale	1,379,487	1,506,011
Unrealized gains, available for sale	5,960	11,161
Unrealized losses, available for sale	412	10,667
Fair value, available for sale	1,385,035	1,506,505
Amortized cost, held to maturity	19,411,483	18,127,067
Unrealized gains, held to maturity	423,557	115,220
Unrealized losses, held to maturity	3,664	209,194
Fair value, held to maturity	19,831,376	18,033,093
SBA Pools [Member]
Amortized cost, available for sale	2,544,930	2,779,411
Unrealized gains, available for sale
Unrealized losses, available for sale	48,999	60,039
Fair value, available for sale	2,495,931	2,719,372
Collateralized Mortgage Backed Securities [Member]
Amortized cost, available for sale	32,111,936	23,090,618
Unrealized gains, available for sale	299,312	33,594
Unrealized losses, available for sale	193,770	758,098
Fair value, available for sale	$ 32,217,478	$ 22,366,114

Note 3 - Investment Securitie_4

Note 3 - Investment Securities - Contractual Maturities (Details) - USD ($)	Jun. 30, 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	501,088	1,009,284
Held to Maturity Fair value, Within one year	501,885	1,011,165
Available for Sale Amortized cost, Over one to five years	259,374	260,587
Available for Sale Fair value,Over one to five years	259,428	249,920
Held to Maturity Amortized cost, Over one to five years	588,860	590,522
Held to Maturity Fair value, Over one to five years	595,799	598,528
Available for Sale Amortized cost, Over five to ten years	1,120,113	870,424
Available for Sale Fair value, Over five to ten years	1,125,607	880,932
Held to Maturity Amortized cost, Over five to ten years	2,947,579	1,858,695
Held to Maturity Fair value, Over five to ten years	3,020,446	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	15,373,956	14,668,566
Held to Maturity Fair value, Over ten years	15,713,246	14,547,036
Available for Sale Amortized cost, total maturity	1,379,487	1,506,011
Available for Sale Fair value, total maturity	1,385,035	1,506,505
Held to Maturity Amortized cost, total maturity	19,411,483	18,127,067
Held to Maturity Fair value, total maturity	19,831,376	18,033,093
Available for Sale Amortized cost, due in monthly installments	34,656,866	25,870,029
Available for Sale Fair value, due in monthly installments	34,713,409	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	36,036,353	27,376,040
Available for Sale Fair value Total	36,098,444	26,591,991
Held to Maturity Amortized cost Total	19,411,483	18,127,067
Held to Maturity Fair value Total	$ 19,831,376	$ 18,033,093

Note 3 - Investment Securitie_5

Note 3 - Investment Securities - Gross Unrealized Losses on Continuous Basis for Investment Securities (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Less than 12 months Fair value	$ 2,379,116	$ 4,474,342
State and municipal	1,629	55,418
12 months or more Fair value	16,445,117	23,787,341
12 months or more Unrealized losses	245,216	982,580
Total Fair value	18,824,233	28,261,683
Total Unrealized losses	246,845	1,037,998
US States and Political Subdivisions Debt Securities [Member]
Less than 12 months Fair value	711,400	3,435,052
State and municipal	1,429	42,080
12 months or more Fair value	551,586	3,740,467
12 months or more Unrealized losses	2,647	177,781
Total Fair value	1,262,986	7,175,519
Total Unrealized losses	4,076	219,861
SBA Pools [Member]
Less than 12 months Fair value		443,288
State and municipal		6,707
12 months or more Fair value	2,465,699	2,276,084
12 months or more Unrealized losses	48,999	53,332
Total Fair value	2,465,699	2,719,372
Total Unrealized losses	48,999	60,039
Collateralized Mortgage Backed Securities [Member]
Less than 12 months Fair value	1,667,716	596,002
State and municipal	200	6,631
12 months or more Fair value	13,427,832	17,770,790
12 months or more Unrealized losses	193,570	751,467
Total Fair value	15,095,548	18,366,792
Total Unrealized losses	$ 193,770	$ 758,098

Note 4 - Loans (Details Textual

Note 4 - Loans (Details Textual)	3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 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
Financing Receivable, Nonaccrual				$ 988,811
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans				115,168
Impaired Financing Receivable, Related Allowance
Number of Loans Classified as TDR	1	1		1
Financing Receivable, Troubled Debt Restructuring	$ 2,109,945	$ 2,109,945		$ 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
Allowance for Loan and Lease Losses Write-offs, Net, Total				$ 690,000
Allowance for Loan and Lease Loss, Recovery of Bad Debts	15,299
Residential Portfolio Segment [Member]
Impaired Financing Receivable, Related Allowance
Number of Loans Classified as TDR	1	1		1
Financing Receivable, Troubled Debt Restructuring	$ 51,870	$ 51,870		$ 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 ($)	Jun. 30, 2019	Dec. 31, 2018
Loans	$ 343,227,905	$ 343,940,842
Allowance for loan losses	2,551,125	2,509,334
Deferred origination fees net of costs	505,464	530,873
	340,171,316	340,900,635
Commercial Real Estate Portfolio Segment [Member]
Loans	237,294,916	238,834,149
Construction and Land Development [Member]
Loans	16,384,252	18,265,505
Residential Portfolio Segment [Member]
Loans	67,471,222	63,024,106
Commercial Portfolio Segment [Member]
Loans	21,769,797	23,323,073
Consumer Portfolio Segment [Member]
Loans	$ 307,718	$ 494,009

Note 4 - Loans - Non-accrual Lo

Note 4 - Loans - Non-accrual Loans (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Commercial Real Estate Portfolio Segment [Member]
Commercial real estate		$ 988,811

Note 4 - Loans - Past Due Loans

Note 4 - Loans - Past Due Loans (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Loans, past due	$ 261,206	$ 1,024,318
Loans, current	342,966,699	342,916,524
Loans	343,227,905	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	56,067
Financial Asset, 60 to 89 Days Past Due [Member]
Loans, past due	205,139	25,000
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans, past due		999,318
Commercial Real Estate Portfolio Segment [Member]
Loans, past due		988,811
Loans, current	237,294,916	237,845,338
Loans	237,294,916	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
Construction and Land Development [Member]
Loans, past due
Loans, current	16,384,252	18,265,505
Loans	16,384,252	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	261,206	10,507
Loans, current	67,210,016	63,013,599
Loans	67,471,222	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	56,067
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Loans, past due	205,139
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	21,769,797	23,298,073
Loans	21,769,797	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	307,718	494,009
Loans	307,718	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 ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Unpaid Contractual Principal Balance	$ 2,161,815
Recorded Investment With No Allowance	2,161,815
Recorded Investment With Allowance
Total Recorded Investment	2,161,815
Related Allowance
Average Recorded Investment	2,669,598
Interest Recognized	54,754
Commercial Real Estate Portfolio Segment [Member]
Unpaid Contractual Principal Balance	2,109,945	$ 3,867,381
Recorded Investment With No Allowance	2,109,945	3,177,381
Recorded Investment With Allowance
Total Recorded Investment	2,109,945	3,177,381
Related Allowance
Average Recorded Investment	2,643,663	4,180,282
Interest Recognized	53,312	$ 120,193
Residential Portfolio Segment [Member]
Unpaid Contractual Principal Balance	51,870
Recorded Investment With No Allowance	51,870
Recorded Investment With Allowance
Total Recorded Investment	51,870
Related Allowance
Average Recorded Investment	25,935
Interest Recognized	$ 1,442

Note 4 - Loans - Loans by Credi

Note 4 - Loans - Loans by Credit Grade (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Loans	$ 343,227,905	$ 343,940,842
Excellent [Member]
Loans	228,636	1,016,648
Above Average [Member]
Loans	5,167,924	4,915,980
Average [Member]
Loans	137,809,045	149,320,353
Acceptable [Member]
Loans	152,584,768	149,689,041
Pass [Member]
Loans	35,832,766	27,472,332
Special Mention [Member]
Loans
Substandard [Member]
Loans	11,585,050	11,448,021
Doubtful [Member]
Loans	19,716	78,467
Commercial Real Estate Portfolio Segment [Member]
Loans	237,294,916	238,834,149
Commercial Real Estate Portfolio Segment [Member] | Excellent [Member]
Loans
Commercial Real Estate Portfolio Segment [Member] | Above Average [Member]
Loans	3,293,941	3,632,231
Commercial Real Estate Portfolio Segment [Member] | Average [Member]
Loans	95,754,466	101,633,803
Commercial Real Estate Portfolio Segment [Member] | Acceptable [Member]
Loans	106,162,538	104,454,812
Commercial Real Estate Portfolio Segment [Member] | Pass [Member]
Loans	23,068,185	20,356,642
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member]
Loans
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member]
Loans	9,015,786	8,756,661
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member]
Loans
Construction and Land Development [Member]
Loans	16,384,252	18,265,505
Construction and Land Development [Member] | Excellent [Member]
Loans
Construction and Land Development [Member] | Above Average [Member]
Loans	135,000
Construction and Land Development [Member] | Average [Member]
Loans	6,191,715	8,190,212
Construction and Land Development [Member] | Acceptable [Member]
Loans	6,782,514	7,871,642
Construction and Land Development [Member] | Pass [Member]
Loans	3,275,023	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	67,471,222	63,024,106
Residential Portfolio Segment [Member] | Excellent [Member]
Loans	17,804	35,926
Residential Portfolio Segment [Member] | Above Average [Member]
Loans	1,568,259	1,178,899
Residential Portfolio Segment [Member] | Average [Member]
Loans	25,319,845	26,856,131
Residential Portfolio Segment [Member] | Acceptable [Member]
Loans	31,361,216	30,169,305
Residential Portfolio Segment [Member] | Pass [Member]
Loans	6,635,674	2,093,825
Residential Portfolio Segment [Member] | Special Mention [Member]
Loans
Residential Portfolio Segment [Member] | Substandard [Member]
Loans	2,568,424	2,690,020
Residential Portfolio Segment [Member] | Doubtful [Member]
Loans
Commercial Portfolio Segment [Member]
Loans	21,769,797	23,323,073
Commercial Portfolio Segment [Member] | Excellent [Member]
Loans	198,810	977,054
Commercial Portfolio Segment [Member] | Above Average [Member]
Loans	65,206	24,180
Commercial Portfolio Segment [Member] | Average [Member]
Loans	10,431,303	12,373,503
Commercial Portfolio Segment [Member] | Acceptable [Member]
Loans	8,220,594	7,130,122
Commercial Portfolio Segment [Member] | Pass [Member]
Loans	2,853,884	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	307,718	494,009
Consumer Portfolio Segment [Member] | Excellent [Member]
Loans	12,022	3,668
Consumer Portfolio Segment [Member] | Above Average [Member]
Loans	105,518	80,670
Consumer Portfolio Segment [Member] | Average [Member]
Loans	111,716	266,704
Consumer Portfolio Segment [Member] | Acceptable [Member]
Loans	57,906	63,160
Consumer Portfolio Segment [Member] | Pass [Member]
Loans
Consumer Portfolio Segment [Member] | Special Mention [Member]
Loans
Consumer Portfolio Segment [Member] | Substandard [Member]
Loans	840	1,340
Consumer Portfolio Segment [Member] | Doubtful [Member]
Loans	$ 19,716	$ 78,467

Note 4 - Loans - Allowance for

Note 4 - Loans - Allowance for Loan Losses (Details) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Beginning balance	$ 2,509,334	$ 2,458,911	$ 2,458,911
Provision for loan losses	13,000	125,000	475,000
Charge offs		(10,622)	(702,115)
Recoveries	28,791	158,666	277,538
Ending balance	2,551,125	2,731,955	2,509,334
Allowance for loan losses, individually		225,701
Allowance for loan losses, collectively	2,551,125	2,506,254	2,509,334
Outstanding loan, individually	2,161,815	3,852,180	3,177,381
Outstanding loan, collectively	341,066,090	343,346,455	340,763,461
Commercial Real Estate Portfolio Segment [Member]
Beginning balance	1,754,372	1,867,397	1,867,397
Provision for loan losses	(17,650)	39,796	372,315
Charge offs			(690,000)
Recoveries	17,799	154,500	204,660
Ending balance	1,754,521	2,061,693	1,754,372
Allowance for loan losses, individually		225,701
Allowance for loan losses, collectively	1,754,521	1,835,992	1,754,372
Outstanding loan, individually	2,109,945	3,852,180	3,177,381
Outstanding loan, collectively	235,184,971	238,264,389	235,656,768
Construction and Land Development [Member]
Beginning balance	196,374	223,274	223,274
Provision for loan losses	(26,548)	34,898	(78,496)
Charge offs		(10,622)	(12,115)
Recoveries	6,826		63,711
Ending balance	176,652	247,550	196,374
Allowance for loan losses, individually
Allowance for loan losses, collectively	176,652	247,550	196,374
Outstanding loan, individually
Outstanding loan, collectively	16,384,252	22,494,576	18,265,505
Residential Portfolio Segment [Member]
Beginning balance	401,626	247,953	247,953
Provision for loan losses	51,910	7,914	153,673
Charge offs
Recoveries
Ending balance	453,536	255,867	401,626
Allowance for loan losses, individually
Allowance for loan losses, collectively	453,536	255,867	401,626
Outstanding loan, individually	51,870
Outstanding loan, collectively	67,419,352	59,418,252	63,024,106
Commercial Portfolio Segment [Member]
Beginning balance	102,610	87,353	87,353
Provision for loan losses	(10,999)	(7,632)	6,090
Charge offs
Recoveries	4,166	4,166	9,167
Ending balance	95,777	83,887	102,610
Allowance for loan losses, individually
Allowance for loan losses, collectively	95,777	83,887	102,610
Outstanding loan, individually
Outstanding loan, collectively	21,769,797	22,675,755	23,323,073
Consumer Portfolio Segment [Member]
Beginning balance	10,428	7,027	7,027
Provision for loan losses	(7,134)	(173)	3,401
Charge offs
Recoveries
Ending balance	3,294	6,854	10,428
Allowance for loan losses, individually
Allowance for loan losses, collectively	3,294	6,854	10,428
Outstanding loan, individually
Outstanding loan, collectively	307,718	493,483	494,009
Unallocated Financing Receivables [Member]
Beginning balance	43,924	25,907	25,907
Provision for loan losses	23,421	50,197	18,017
Charge offs
Recoveries
Ending balance	67,345	76,104	43,924
Allowance for loan losses, individually
Allowance for loan losses, collectively	67,345	76,104	43,924
Outstanding loan, individually
Outstanding loan, collectively

Note 5 - Lease Commitments (Det

Note 5 - Lease Commitments (Details Textual)	3 Months Ended	6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2019USD ($)
Operating Lease, Cost	$ 46,414	$ 94,221
Operating Lease, Weighted Average Remaining Lease Term	9 years 328 days	9 years 328 days
Operating Lease, Weighted Average Discount Rate, Percent	3.36%	3.36%
Operating Lease, Payments	$ 37,224	$ 73,948

Note 5 - Lease Commitments - Op

Note 5 - Lease Commitments - Operating Lease Assets and Liabilities (Details)	Jun. 30, 2019USD ($)
Operating Lease, Liability, Total	$ 1,478,562
Other Assets [Member]
Operating Lease, Right-of-Use Asset	1,332,126
Other Liabilities [Member]
Operating Lease, Liability, Total	$ 1,478,562

Note 5 - Lease Commitments - _2

Note 5 - Lease Commitments - Operating Lease Liabilities (Details)	Jun. 30, 2019USD ($)
2019	$ 69,391
2020	141,680
2021	146,120
2022	150,707
2023	155,447
Thereafter	911,769
Total lease payments	1,575,114
Less imputed interest	(96,552)
Operating Lease, Liability, Total	$ 1,478,562

Note 6 - Capital Standards (Det

Note 6 - Capital Standards (Details Textual)	Jun. 30, 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 ($)	Jun. 30, 2019	Dec. 31, 2018
Capital	$ 49,098	$ 47,857
Capital to Risk Weighted Assets	13.92%	13.50%
Capital Required for Capital Adequacy	$ 37,046	$ 34,996
Capital Required for Capital Adequacy to Risk Weighted Assets	10.50%	9.88%
Capital Required to be Well Capitalized	$ 35,282	$ 35,439
Capital Required to be Well Capitalized to Risk Weighted Assets	10.00%	10.00%
Tier One Risk Based Capital	$ 46,547	$ 45,348
Tier One Risk Based Capital to Risk Weighted Assets	13.19%	12.80%
Tier One Risk Based Capital Required for Capital Adequacy	$ 29,990	$ 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	$ 28,226	$ 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	$ 46,547	$ 45,348
Common Equity Tier One Capital Ratio	13.19%	12.80%
Common Equity Tier One Capital Required for Capital Adequacy	$ 24,697	$ 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	$ 22,933	$ 23,036
Common Equity Tier One Capital Required to be Well Capitalized Ratio	6.50%	6.50%
Tier One Leverage Capital	$ 46,547	$ 45,348
Tier One Leverage Capital to Average Assets	10.76%	10.86%
Tier One Leverage Capital Required for Capital Adequacy	$ 17,307	$ 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	$ 21,633	$ 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)	6 Months Ended
	Jun. 30, 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 ($)	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Fair value, available for sale	$ 36,098,444		$ 26,591,991
Equity security at fair value	524,710		503,827
Mutual fund	524,710		503,827
Fair Value, Recurring [Member]
Fair value, available for sale	36,098,444		26,591,991
Equity security at fair value	524,710
Mutual fund	524,710
Fair Value, Nonrecurring [Member]
Impaired loans	2,161,815		3,177,381
Other real estate owned		$ 210,150
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	524,710
Mutual fund	524,710
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member]
Impaired loans
Other real estate owned
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	36,098,444		26,591,991
Equity security at fair value
Mutual fund
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member]
Impaired loans
Other real estate owned
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]
Impaired loans	2,161,815		3,177,381
Other real estate owned		$ 210,150
US States and Political Subdivisions Debt Securities [Member]
Fair value, available for sale	1,385,035		1,506,505
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	1,385,035		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	1,385,035		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	2,495,931		2,719,372
SBA Pools [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	2,495,931		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	2,495,931		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	32,217,478		22,366,114
Collateralized Mortgage Backed Securities [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	32,217,478		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	32,217,478		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 ($)	Jun. 30, 2019	Dec. 31, 2018
Fair value, held to maturity	$ 19,831,376	$ 18,033,093
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value, held to maturity	19,411,483	18,127,067
Mortgage loans held for sale	972,750	573,638
Federal Home Loan Bank stock	503,700	575,800
Interest-bearing deposits	311,165,456	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	340,171,316	340,900,635
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Noninterest-bearing deposits	61,009,944	62,717,520
Securities sold under repurchase agreements	8,789,585	11,012,000
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value, held to maturity	19,831,376	18,033,093
Mortgage loans held for sale	987,697	582,248
Federal Home Loan Bank stock	503,700	575,800
Interest-bearing deposits	308,365,456	281,761,483
Federal Home Loan Bank advances	2,994,000	2,971,000
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Loans, net	339,362,905	337,385,842
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Noninterest-bearing deposits	61,009,944	62,717,520
Securities sold under repurchase agreements	$ 8,789,585	$ 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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Net income	$ 1,225,821	$ 1,145,247	$ 2,322,108	$ 2,267,183
Weighted average shares outstanding (in shares)	1,683,175	1,667,943	1,683,087	1,667,889
Earnings per share - basic and diluted (in dollars per share)	$ 0.73	$ 0.69	$ 1.38	$ 1.36

Note 9 - Retirement Plans (Deta

Note 9 - Retirement Plans (Details Textual)	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2019
Number of Employees Covered by Life Insurance Policy					12
Other Postretirement Benefits Cost (Reversal of Cost)	$ 1,468	$ 1,419	$ 2,936	$ 2,837
Employee Benefits and Share-based Compensation	$ 314,145	322,568	$ 696,109	690,022
Supplemental Employee Retirement Plan [Member]
Number of Employees Participating in Plan	3		3
Employee Benefits and Share-based Compensation	$ 30,600	60,000	$ 61,200	120,000
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	$ 40,776	$ 39,334	$ 102,593	$ 87,988