Farmers and Merchants Bancshares (FMFG) 10-K 19 Mar 21 2020 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2020	Feb. 27, 2021	Jun. 30, 2020
Document Information [Line Items]
Entity Registrant Name	Farmers & Merchants Bancshares, Inc.
Entity Central Index Key	0001698022
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)		3,011,255
Entity Public Float			$ 38,275,762
Entity Shell Company	false
Document Type	10-K
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
Title of 12(g) Security	Common stock, par value $.01 per share

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and due from banks	$ 39,898,557	$ 6,664,307
Federal funds sold and other interest-bearing deposits	1,077,113	2,457,045
Cash and cash equivalents	40,975,670	9,121,352
Certificates of deposit in other banks	850,000	100,000
Securities available for sale	54,477,286	36,531,774
Securities held to maturity	23,078,519	19,510,018
Equity security at fair value	552,566	532,321
Restricted stock, at cost	900,500	376,200
Mortgage loans held for sale	1,673,350	242,000
Loans, less allowance for loan losses of $3,296,538 and $2,593,715	521,690,514	359,382,843
Premises and equipment	7,736,556	5,036,851
Accrued interest receivable	2,057,491	1,019,540
Deferred income taxes	1,219,668	1,036,078
Other real estate owned	1,411,605
Bank owned life insurance	11,297,342	7,145,477
Goodwill and other intangibles	7,059,408
Other assets	2,336,607	2,180,644
Assets, Total	677,317,082	442,215,098
Deposits:
Noninterest-bearing	103,155,113	60,659,015
Interest-bearing	470,246,434	315,954,299
Total deposits	573,401,547	376,613,314
Securities sold under repurchase agreements	24,753,972	10,958,118
Federal Home Loan Bank of Atlanta advances	5,000,000
Long-term debt	16,973,280
Accrued interest payable	409,622	346,214
Other liabilities	5,049,178	4,843,936
Liabilities, Total	625,587,599	392,761,582
Stockholders' equity:
Common stock, par value $.01 per share, authorized 5,000,000 shares; issued and outstanding 3,011,255 shares in 2020 and 2,974,019 shares in 2019	30,113	29,740
Additional paid-in capital	28,294,139	27,812,991
Retained earnings	22,698,954	21,568,161
Accumulated other comprehensive income	706,277	42,624
Stockholders' Equity Attributable to Parent, Ending Balance	51,729,483	49,453,516
Liabilities and Equity, Total	$ 677,317,082	$ 442,215,098

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Allowance for loan losses	$ 3,296,538	$ 2,593,715
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)	3,011,255	2,974,019
Common stock, share outstanding (in shares)	3,011,255	2,974,019

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Interest income:
Loans, including fees	$ 19,291,162	$ 16,894,657
Investment securities - taxable	770,394	869,457
Investment securities - tax exempt	625,099	580,384
Federal funds sold and other interest earning assets	76,525	357,840
Total interest income	20,763,180	18,702,338
Interest expense:
Deposits	3,128,994	3,519,960
Securities sold under repurchase agreements	107,318	114,641
Federal Home Loan Bank advances and other borrowings	222,365	45,352
Total interest expense	3,458,677	3,679,953
Net interest income	17,304,503	15,022,385
Provision for loan losses	625,000	40,000
Net interest income after provision for loan losses	16,679,503	14,982,385
Noninterest income:
Mortgage banking income	1,024,937	397,710
Bank owned life insurance income	188,143	364,729
Unrealized gain on equity security	10,513	16,232
Write down of other real estate owned		(210,150)
Gain on sale of SBA loans	125,520	139,535
Total noninterest income	2,072,119	1,493,567
Noninterest expense:
Salaries	6,137,050	5,472,609
Employee benefits	1,658,651	1,352,202
Occupancy	758,357	771,917
Furniture and equipment	840,890	614,543
Acquisition	3,236,817
Other	2,950,643	2,664,543
Total noninterest expense	15,582,408	10,875,814
Income before income taxes	3,169,214	5,600,138
Income taxes	487,211	1,039,334
Net income	$ 2,682,003	$ 4,560,804
Earnings per share - basic and diluted (in dollars per share)	$ 0.90	$ 1.54
Deposit Account [Member]
Noninterest income:
Noninterest revenue	$ 575,430	$ 663,675
Financial Service, Other [Member]
Noninterest income:
Noninterest revenue	$ 147,576	$ 121,836

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Net income	$ 2,682,003	$ 4,560,804
Securities available for sale
Net unrealized gain arising during the period	915,604	842,856
Income tax expense	(251,951)	(231,933)
Total other comprehensive gain	663,653	610,923
Total comprehensive income	$ 3,345,656	$ 5,171,727

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]AOCI Attributable to Parent [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2018						1,682,997
Balance (Accounting Standards Update 2016-01 [Member]) at Dec. 31, 2018			$ (91,447)		$ (91,447)
Balance at Dec. 31, 2018						$ 16,830	$ 27,324,794	$ 18,621,382	$ (568,299)	$ 45,394,707
Net income								4,560,804		4,560,804
Unrealized gain on securities available for sale net of income tax expense									610,923	610,923
Cash dividends								(1,509,895)		(1,509,895)
Dividends reinvested (in shares)						22,705
Dividends reinvested						$ 227	488,197			488,424
Stock dividend (in shares)						1,268,317
Stock dividend						$ 12,683
Stock dividend								(12,683)
Balance (in shares) at Dec. 31, 2019						2,974,019
Balance at Dec. 31, 2019						$ 29,740	27,812,991	21,568,161	42,624	49,453,516
Net income								2,682,003		2,682,003
Unrealized gain on securities available for sale net of income tax expense									663,653	663,653
Cash dividends								(1,551,210)		(1,551,210)
Dividends reinvested (in shares)						37,236
Dividends reinvested						$ 373	481,148			481,521
Balance (in shares) at Dec. 31, 2020						3,011,255
Balance at Dec. 31, 2020						$ 30,113	$ 28,294,139	$ 22,698,954	$ 706,277	$ 51,729,483

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Unrealized gain (loss) on securities available for sale, tax expense (benefit)	$ 251,951	$ 231,933
Cash dividends, per share (in dollars per share)	$ 0.52	$ 0.51

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities
Interest received	$ 21,071,658	$ 18,648,337
Fees and commissions received	1,747,943	1,455,827
Interest paid	(3,521,625)	(3,645,228)
Proceeds from sale of mortgage loans held for sale	51,397,979	20,046,955
Origination of mortgage loans held for sale	(51,086,134)	(19,715,317)
Cash paid to suppliers and employees	(14,227,116)	(10,019,091)
Income taxes paid	(930,435)	(1,055,967)
Cash provided by operating activities	4,452,270	5,715,516
Cash flows from investing activities
Proceeds from maturity and call of securities Available for sale	22,224,763	8,507,098
Proceeds from maturity and call of securities Held to maturity	1,956,420	1,101,420
Proceeds from sale of securities Available for sale	2,025,000	0
Purchase of securities Available for sale	(28,841,213)	(17,761,884)
Held to maturity	(5,470,258)	(2,457,087)
Cash paid for the acquisition of Carroll Bancorp, Inc., net of cash acquired	(19,366,118)
Loans made to customers, net of principal collected	(19,478,136)	(19,952,309)
Proceeds from sale of SBA loans	1,233,270	1,582,364
Redemption of restricted stock	402,400	199,600
Purchases of premises and equipment	(387,111)	(256,561)
Cash used by investing activities	(45,700,983)	(29,037,359)
Cash flows from financing activities
Noninterest-bearing deposits	21,273,083	(2,058,505)
Interest-bearing deposits	30,131,909	23,958,816
Securities sold under repurchase agreements	13,795,854	(53,882)
Federal Home Loan Bank of Atlanta advances	(8,000,000)	(3,000,000)
Long-term debt	16,971,874
Dividends paid, net of reinvestments	(1,069,689)	(1,021,471)
Cash provided by financing activities	73,103,031	17,824,958
Net increase (decrease) in cash and cash equivalents	31,854,318	(5,496,885)
Cash and cash equivalents at beginning of period	9,121,352	14,618,237
Cash and cash equivalents at end of period	40,975,670	9,121,352
Reconciliation of net income to net cash provided by operating activities
Net income	2,682,003	4,560,804
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	415,781	344,171
Provision for loan losses	625,000	40,000
Lease expense in excess of rent paid	34,058	40,912
Write down of other real estate owned		210,150
Equity security dividends reinvested	(9,732)	(12,262)
Unrealized (gain) loss on equity security	(10,513)	(16,232)
Gain on sale of SBA loans	(125,520)	(139,535)
Deferred income taxes	151,331	(53,841)
Amortization of debt issuance costs	1,406
Amortization of premiums and accretion of discounts, net	288,961	130,575
Increase (decrease) in
Deferred loan fees	531,441	(12,728)
Accrued interest payable	63,408	34,725
Other liabilities	163,897	557,902
Decrease (increase) in
Mortgage loans held for sale	311,845	331,638
Accrued interest receivable	(200,455)	(29,011)
Bank owned life insurance cash surrender value	(188,143)	(92,123)
Other assets	20,164	(179,629)
Cash provided by operating activities	$ 4,452,270	$ 5,715,516

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. Summary of Significant Accounting Policies The accounting and reporting policies reflected in the financial statements conform to accounting principles generally accepted in the United States of America and to general practices within the banking industry. Management makes estimates and assumptions that affect the reported amounts of assets, liabilities, and disclosures of commitments and contingent liabilities at the balance sheet date, and revenues and expenses during the year. These estimates and assumptions may Principles of consolidation The consolidated financial statements include the accounts of Farmers and Merchants Bancshares, Inc. and its wholly owned subsidiaries, Farmers and Merchants Bank (the “Bank”), and Series Protected Cell FCB- 4 one 100% October 1, 2020, December 31, 2020, 2019 Business The Bank provides banking services to individuals and businesses located in Baltimore County, Maryland, Carroll County, Maryland and surrounding areas of northern Maryland. The Insurance Subsidiary is a captive insurance entity that provides insurance coverage for the Bank. Reliable Community Financial Services, Inc. is licensed to provide a wide range of investment and insurance products to its customers, but is inactive. Reclassifications Certain reclassifications have been made to the 2019 no Cash and cash equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, money market funds, and federal funds sold. Generally, federal funds are purchased and sold for one Comprehensive income Comprehensive income includes net income and the unrealized gains or losses on investment securities available for sale, net of income taxes. Investment securities As securities are purchased, management determines if the securities should be classified as held to maturity or available for sale. Securities which management has the intent and ability to hold to maturity are recorded at amortized cost, which is cost adjusted for amortization of premiums and accretion of discounts. Discounts are accreted through maturity. Premiums are amortized through the earliest call date. Securities held to meet liquidity needs or which may Equity security at fair value The Company owns a mutual fund that is measured at fair value with changes in fair value recognized in noninterest income. Restricted stock, at cost Restricted stock consists of Federal Home Loan Bank of Atlanta (the “FHLB”) stock, Community Bankers Bank (“CBB”) stock, and Atlantic Community Bankers Bank (“ACBB”) stock. As a member of the FHLB, the Bank is required to purchase FHLB stock in an amount that is based on the Bank's total assets. Additional stock is purchased and redeemed based on the outstanding FHLB advances to the Bank. CBB and ACBB require its correspondent banking institutions to hold stock as a condition of membership. The restricted investment in bank stocks is carried at cost. On a quarterly basis, management evaluates the bank stocks for impairment based on assessment of the ultimate recoverability of cost rather than by recognizing temporary declines in value. The determination of whether a decline affects the ultimate recoverability of cost is influenced by criteria such as operating performance, liquidity, funding and capital positions, stock repurchase history, dividend history, and impact of legislative and regulatory changes. Loans and allowance for loan losses Loans are stated at the current amount of unpaid principal, adjusted for deferred origination costs, deferred origination fees, and the allowance for loan losses. Interest on loans is accrued based on the principal amounts outstanding. Origination fees and costs are amortized to income over the terms of loans. Past due status is based on the contractual terms of the loan. Management may 90 not The allowance for loan losses represents an amount which, in management's judgment, will be adequate to absorb probable losses on existing loans and other extensions of credit that may three not The allowances established for probable losses on impaired loans are based on a regular analysis and evaluation of problem loans. Management maintains a watch list of problem loans. Loans are classified based on an internal credit risk grading process that evaluates, among other things: (i) the obligor's ability to repay; (ii) the underlying collateral, if any; (iii) the economic environment; and (iv) for commercial borrowers, the industry in which the borrower operates. Specific valuation allowances are determined when the collateral value, if the loan is collateral dependent, or the discounted cash flows of the impaired loan is lower than the carrying value. Historical valuation allowances are calculated based on the historical loss experience of specific types of loans. The Company calculates historical loss ratios for pools of similar loans with similar characteristics based on the proportion of actual charge-offs experienced to the total population of loans in the pool over the prior eight twenty December 31, 2020 2019, twenty Adjustments to the historical valuation allowances are based on general economic conditions and other qualitative risk factors both internal and external to the Company. In general, such adjustments are determined by evaluating, among other things: (i) the impact of economic conditions on the portfolio; (ii) changes in asset quality, including delinquency trends; (iii) the impact of changing interest rates on portfolio risk; (iv) changes in legislative and regulatory policy; (v) the composition and concentrations of credit; and (vi) the effectiveness of the internal loan review function as well as changes to policies and experience of loan personnel. Management evaluates these qualitative factors on a quarterly basis. Each factor could result in an adjustment that is positive, negative, or no Loan losses are charged to the allowance when management believes that collection is unlikely. Collections of loans previously charged off are added to the allowance at the time of recovery. Loans acquired in connection with business combinations are recorded at fair value with no The excess of cash flows expected at acquisition over the estimated fair value is referred to as the accretable discount and is recognized into interest income over the remaining life of the loan. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the nonaccretable discount. These loans are accounted for under ASC 310 30, 310 30" Loans acquired through business combinations that meet the specific criteria of ASC 310 30 Loans acquired through business combinations that do not 310 30 310 20, no Acquired loans that meet the criteria for impairment or nonaccrual of interest prior to the acquisition may may no may first Mortgage loans held for sale and mortgage banking income Mortgage loans held for sale are carried at the lower of aggregate cost or fair value based on the current fair value of each outstanding loan. Sales of loans are recorded when the proceeds are received, with any gain or loss recorded in mortgage banking income. The Company sells its mortgage loans to third no third not third Premises and equipment Land is carried at cost. Premises and equipment are recorded at cost less accumulated depreciation and amortization. Depreciation on buildings and equipment is computed over the estimated useful lives of the assets using the straight-line method. Leasehold improvements are amortized using the straight-line method over the term of the lease or the estimated useful lives of the asset, whichever is shorter. Other real estate owned Real estate acquired through foreclosure or by deed in lieu of foreclosure is recorded at the lower of cost or fair value less estimated costs to sell on the date acquired. Losses incurred at the time of acquisition of the property are charged to the allowance for loan losses. Subsequent reductions in the estimated value of the property are included with any gains or losses on sale in noninterest income. Bank owned life insurance The Company has purchased life insurance policies on certain key executives. Company owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. Goodwill and other intangible assets Goodwill is calculated as the purchase premium, if any, after adjusting for the fair value of net assets acquired in purchase transactions. Goodwill is not 10 Revenue recognition On January 1, 2018, 2014 09 no Operating leases On January 1, 2019, 2016 02, 842 2016‑02, 2016 02, January 1, 2019, $1,400,855, $1,527,019, $91,447 $34,717 Income taxes The provision for income taxes includes income taxes payable for the current year and deferred income taxes. Deferred tax assets and liabilities are determined based on the difference between the financial statement bases and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. A tax position is recognized as a benefit only if it is “more likely than not” 50% not not” no Per share data Earnings per share are determined by dividing net income by the weighted average number of shares of common stock outstanding, giving retroactive effect to any stock dividends. Weighted average shares were 2,983,972 2,952,904 2020 2019, No December 31, 2020 December 31, 2019. Subsequent events The Company has evaluated events and transactions occurring subsequent to the statement of financial condition date of December 31, 2020 855,

Note 2 - Acquisition of Carroll

Note 2 - Acquisition of Carroll Bancorp, Inc.	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Business Combination Disclosure [Text Block]	2. Acquisition of Carroll Bancorp, Inc. Carroll was acquired for approximately $24.8 $7.8 $17 third $176,159,890, $145,153,100, $157,992,286, $144,896,990 The following table presents the book values and fair values of the assets, liabilities, and equity of Carroll at the effective time of the Merger: Book value Fair value Cash $ 5,441,610 $ 5,441,610 Certificates of deposit in other banks 750,000 750,000 Securities available for sale 12,863,795 12,922,620 Restricted stock, at cost 926,700 926,700 Loans held for sale 1,702,950 1,743,195 Loans 145,153,100 145,080,950 Premises and equipment 2,619,413 2,684,240 Other real estate owned 1,411,605 1,411,605 Other assets 5,290,717 5,388,546 Goodwill and other intangibles - 7,061,490 Total assets $ 176,159,890 $ 183,410,956 Deposits $ 144,896,990 $ 145,513,085 FHLB advances 13,000,000 13,000,000 Other liabilities 95,296 90,143 Total liabilities 157,992,286 158,603,228 Stockholders' equity 18,167,604 24,807,728 Total liabilities and stockholders' equity $ 176,159,890 $ 183,410,956 The determination of fair values of the acquired loans required the Company to make certain estimates about discount rates, future expected cash flows, market conditions and other future events that are highly subjective in nature. Based on such factors as past due status, nonaccrual status, bankruptcy status, and credit risk ratings, the acquired loans were divided into loans with evidence of credit quality deterioration, which are accounted for under ASC 310 30 not 310 20 3 two 2 1 2 16 2 3 The Company recognized a core deposit intangible of $83,282, 10 Loans acquired from Carroll were measured at fair value at the acquisition date with no

Note 3 - Cash and Cash Equivale

Note 3 - Cash and Cash Equivalents	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Cash and Cash Equivalents Disclosure [Text Block]	3. Cash and Cash Equivalents The Company normally carries balances with other banks that exceed the federally insured limit. The average balance carried in excess of the limit, including unsecured federal funds sold to the same banks, was $ 8,703,983 $8,500,311 December 31, 2020 2019, Deposits held in noninterest-bearing transaction accounts are aggregated with any interest-bearing deposits the owner may $250,000. Banks are required to carry noninterest-bearing cash reserves of specified percentages of deposit balances. The Company's normal balances of cash on hand and on deposit with other banks are sufficient to satisfy the reserve requirements.

Note 4 - Investment Securities

Note 4 - Investment Securities	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	4. Investment Securities Investment securities are summarized as follows: Amortized Unrealized Unrealized Fair December 31, 2020 cost gains losses value Available for sale State and municipal $ 962,438 $ 24,094 $ - $ 986,532 SBA pools 1,822,226 - 38,419 1,783,807 Corporate bonds 6,692,156 108,172 2,897 6,797,431 Mortgage-backed securities 44,026,055 941,987 58,526 44,909,516 $ 53,502,875 $ 1,074,253 $ 99,842 $ 54,477,286 Held to maturity State and municipal $ 23,078,519 $ 1,177,125 $ 10,858 $ 24,244,786 December 31, 2019 Available for sale State and municipal $ 508,134 $ 4,536 $ - $ 512,670 SBA pools 2,203,834 - 52,037 2,151,797 Mortgage-backed securities 33,760,999 255,843 149,535 33,867,307 $ 36,472,967 $ 260,379 $ 201,572 $ 36,531,774 Held to maturity State and municipal $ 19,510,018 $ 588,393 $ 480 $ 20,097,931 Contractual maturities, shown below, will differ from actual maturities because borrowers and issuers may Available for Sale Held to Maturity Amortized Fair Amortized Fair December 31, 2020 cost value cost value Within one year $ 505,372 $ 502,475 $ 487,741 $ 496,463 Over one to five years 4,646,388 4,755,483 793,876 813,523 Over five to ten years 2,300,591 2,323,451 2,476,827 2,687,063 Over ten years 202,243 202,554 19,320,075 20,247,737 7,654,594 7,783,963 23,078,519 24,244,786 Mortgage-backed securities and SBA pools, due in monthly installments 45,848,281 46,693,323 - - $ 53,502,875 $ 54,477,286 $ 23,078,519 $ 24,244,786 Available for Sale Held to Maturity Amortized Fair Amortized Fair December 31, 2019 cost value cost value Within one year $ - $ - $ 257,150 $ 261,204 Over one to five years 258,134 258,838 562,587 565,140 Over five to ten years 250,000 253,832 2,717,125 2,782,474 Over ten years - - 15,973,156 16,489,113 508,134 512,670 19,510,018 20,097,931 Mortgage-backed securities and SBA pools, due in monthly installments 35,964,833 36,019,104 - - $ 36,472,967 $ 36,531,774 $ 19,510,018 $ 20,097,931 Securities with a carrying value of $34,958,212 $11,441,474 December 31, 2020 2019, The following table sets forth the Company's gross unrealized losses on a continuous basis for investment securities, by category and length of time. December 31, 2020 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 $ 719,430 $ 10,858 $ - $ - $ 719,430 $ 10,858 SBA pools - - 1,783,807 38,419 1,783,807 38,419 Corporate bonds 502,754 2,897 - - 502,754 2,897 Mortgage-backed securities 9,286,525 57,987 96,652 539 9,383,177 58,526 Total $ 10,508,709 $ 71,742 $ 1,880,459 $ 38,958 $ 12,389,168 $ 110,700 December 31, 2019 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 $ 251,618 $ 480 $ - $ - $ 251,618 $ 480 SBA pools - - 2,151,797 52,037 2,151,797 52,037 Mortgage-backed securities 10,643,624 58,063 7,295,788 91,472 17,939,412 149,535 Total $ 10,895,242 $ 58,543 $ 9,447,585 $ 143,509 $ 20,342,827 $ 202,052 Management has the ability and intent to hold securities classified as held to maturity until they mature, at which time the Company should receive full value for the securities. As of December 31, 2020, not December 31, 2020, none In 2020, three $2,025,000 no In 2019, no

Note 5 - Related Party Transact

Note 5 - Related Party Transactions	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	5. Related Party Transactions Certain executive officers and directors of the Company, including members of their immediate families and companies in which they are significant owners (more than 10% 2020 2019. not December 31, 2020 2019, 2020 2019 Balance, beginning of year $ 14,551,236 $ 13,955,097 Additions 1,771,200 5,934,975 Amounts collected (1,763,554 ) (5,338,836 ) Balance, end of year $ 14,558,882 $ 14,551,236 Unused lines of credit to related parties totaled $330,315 $337,000 December 31, 2020 2019, Deposits at the Company from related parties totaled $20,611,092 $16,237,540 December 31, 2020 2019, Payments to companies controlled by directors totaled $54,544 2020 $22,469 2019. In February 2021, one $1,370,000 $1.1

Note 6 - Loans

Note 6 - Loans	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	6. Loans Major categories of loans at December 31, 2020 2019 2020 2019 Real estate: Commercial $ 274,501,327 $ 240,938,149 Construction and land development 33,641,916 18,194,955 Residential 156,111,245 76,122,069 Commercial 61,368,105 26,947,503 Consumer 288,454 292,027 525,911,047 362,494,703 Less: Allowance for loan losses 3,296,538 2,593,715 Deferred origination fees net of costs 923,995 518,145 $ 521,690,514 $ 359,382,843 Commercial loans in the table above include $32,071,443 100% December 31, 2020 December 31, 2020, $1,286,000 Year-end nonaccrual loans, segregated by class of loans, were as follows: 2020 2019 Real estate: Commercial $ 4,407,829 $ - Residential 220,967 - $ 4,628,796 $ - At December 31, 2020, one $4,407,829 two $220,967. $13,395 2020 $0 $8,176 December 31, 2020. At December 31, 2019, no An age analysis of past due loans, segregated by class of loans, as of year-end, is as follows: 90 Days Past Due 90 30 - 59 Days 60 - 89 Days or More Total Total Days or More Past Due Past Due Past Due Past Due Current Loans and Accruing December 31, 2020 Real estate: Commercial $ 182,656 $ - $ - $ 182,656 $ 274,318,671 $ 274,501,327 $ - Construction and land development - - - - 33,641,916 33,641,916 - Residential 24,591 - 220,967 245,558 155,865,687 156,111,245 - Commercial - - - - 61,368,105 61,368,105 - Consumer - - - - 288,454 288,454 - Total $ 207,247 $ - $ 220,967 $ 428,214 $ 525,482,833 $ 525,911,047 $ - December 31, 2019 Real estate: Commercial $ 224,794 $ - $ - $ 224,794 $ 240,713,355 $ 240,938,149 $ - Construction and land development - - - - 18,194,955 18,194,955 - Residential 59,892 - - 59,892 76,062,177 76,122,069 - Commercial - - - - 26,947,503 26,947,503 - Consumer - - - - 292,027 292,027 - Total $ 284,686 $ - $ - $ 284,686 $ 362,210,017 $ 362,494,703 $ - Year-end impaired loans, segregated by class of loans, are set forth in the following table: Unpaid Recorded Recorded Contractual Investment Investment Total Average Principal With No With Recorded Related Recorded Interest Balance Allowance Allowance Investment Allowance Investment Recognized December 31, 2020 Commercial real estate $ 7,246,478 $ 6,660,145 $ 151,553 $ 6,811,698 $ - $ 4,448,343 $ 352,938 Construction and land development 1,719,010 - 1,566,174 1,566,174 - 783,087 22,520 Residential real estate 1,121,649 215,229 595,434 810,663 - 430,360 10,656 $ 10,087,137 $ 6,875,374 $ 2,313,161 $ 9,188,535 $ - $ 5,661,790 $ 386,114 December 31, 2019 Commercial real estate $ 2,084,988 $ 2,084,988 $ - $ 2,084,988 $ - $ 2,631,185 $ 106,874 Residential real estate 50,057 50,057 - 50,057 - 25,029 2,876 $ 2,135,045 $ 2,135,045 $ - $ 2,135,045 $ - $ 2,656,214 $ 109,750 Impaired loans include certain loans that have been modified in troubled debt restructurings (“TDRs”) where economic concessions have been granted to borrowers who have experienced or are expected to experience financial difficulties. These concessions typically result from the Company's loss mitigation activities and could include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance, or other actions. Certain TDRs are classified as nonperforming at the time of restructure and may six At December 31, 2020, two $2,252,316 one $44,733 One $182,656 2020. three no three At December 31, 2019, one $2,084,988 one $50,057 no two Section 4013 310 40 19 March 1, 2020 December 31, 2020 60 19 not 30 December 31, 2019 April 2020, six 19 not 310 40. 19 second 2020, $109.2 30% third 2020, $21.8 three 6% December 31, 2020, five two $14.7 3% None December 31, 2020 As part of our portfolio risk management, the Company assigns a risk grade to each loan. The factors used to determine the grade are the payment history of the loan and the borrower, the value of the collateral and net worth of the guarantor, and cash flow projections of the borrower. Excellent, Above Average, Average and Acceptable grades are assigned to loans with limited or no A description of the general characteristics of loans characterized as watch list or classified is as follows: Pass/Watch Loans graded as Pass/Watch are secured by generally acceptable assets which reflect above-average risk. The loans warrant closer scrutiny by management than is routine, due to circumstances affecting the borrower, the borrower's industry, or the overall economic environment. Borrowers may Special Mention A special mention loan has potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may not not Borrowers may may may Substandard A substandard loan is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard loans have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not Borrowers may Doubtful A doubtful loan has all the weaknesses inherent as a substandard loan with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loans by credit grade, segregated by loan type, at year-end, are as follows: Above Pass Special December 31, 2020 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ 2,010,472 $ 80,782,360 $ 83,504,722 $ 93,013,211 $ 5,951,177 $ 9,239,385 $ - $ 274,501,327 Construction and land development - - 2,962,300 15,944,499 13,168,844 - 1,566,273 - 33,641,916 Residential 36,285 1,026,824 79,207,040 45,302,862 27,611,830 - 2,926,404 - 156,111,245 Commercial 32,088,058 - 10,037,516 13,532,170 5,710,361 - - - 61,368,105 Consumer 13,729 109,955 131,171 6,671 15,663 - - 11,265 288,454 $ 32,138,072 $ 3,147,251 $ 173,120,387 $ 158,290,924 $ 139,519,909 $ 5,951,177 $ 13,732,062 $ 11,265 $ 525,911,047 Above Pass Special December 31, 2019 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ 2,769,944 $ 91,274,940 $ 110,566,629 $ 27,438,005 $ - $ 8,888,631 $ - $ 240,938,149 Construction and land development - 216,000 4,737,737 8,572,151 4,669,067 - - - 18,194,955 Residential 39,817 1,633,783 30,767,418 34,784,120 6,386,377 - 2,510,554 - 76,122,069 Commercial 153,848 20,000 11,682,299 11,995,143 3,096,213 - - - 26,947,503 Consumer 2,327 99,385 91,620 60,049 19,214 - 240 19,192 292,027 $ 195,992 $ 4,739,112 $ 138,554,014 $ 165,978,092 $ 41,608,876 $ - $ 11,399,425 $ 19,192 $ 362,494,703 The following tables detail activity in the allowance for loan losses by portfolio for the years ended December 31, 2020 2019. one not Allowance for loan losses Outstanding loan Provision ending balance evaluated balances evaluated Beginning for loan Charge Ending for impairment: for impairment: December 31, 2020 balance losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 1,763,861 $ 418,806 $ - $ 47,462 $ 2,230,129 $ - $ 2,230,129 $ 6,811,698 $ 267,689,629 Construction and land development 192,828 (5,536 ) - 14,400 201,692 - 201,692 1,566,174 32,075,742 Residential 478,124 166,515 - - 644,639 - 644,639 810,663 155,300,582 Commercial 107,782 (12,353 ) - 15,961 111,390 - 111,390 - 61,368,105 Consumer 4,133 (1,995 ) - - 2,138 - 2,138 - 288,454 Unallocated 46,987 59,563 - - 106,550 - 106,550 - - $ 2,593,715 $ 625,000 $ - $ 77,823 $ 3,296,538 $ - $ 3,296,538 $ 9,188,535 $ 516,722,512 Allowance for loan losses Outstanding loan Provision ending balance evaluated balances evaluated Beginning for loan Charge Ending for impairment: for impairment: December 31, 2019 balance losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 1,754,372 $ (11,700 ) $ - $ 21,189 $ 1,763,861 $ - $ 1,763,861 $ 2,084,988 $ 238,853,161 Construction and land development 196,374 (17,571 ) - 14,025 192,828 - 192,828 - 18,194,955 Residential 401,626 76,498 - - 478,124 - 478,124 50,057 76,072,012 Commercial 102,610 (3,995 ) - 9,167 107,782 - 107,782 - 26,947,503 Consumer 10,428 (6,295 ) - - 4,133 - 4,133 - 292,027 Unallocated 43,924 3,063 - - 46,987 - 46,987 - - $ 2,509,334 $ 40,000 $ - $ 44,381 $ 2,593,715 $ - $ 2,593,715 $ 2,135,045 $ 360,359,658 The following table provides activity for the accretable yield of purchased loans: 2020 Balance at beginning of the year $ - Acquired during the year 2,478,000 Accretion 227,768 Adjustments - Balance at end of year $ 2,250,232 At December 31, 2020, $927,000. December 31, 2020, $2,124,008. December 31, 2020, $135,413,180 $134,347,454. Loans having an aggregate balance of approximately $115.3 December 31, 2020. $76 December 31, 2020. December 31, 2020 2019, $21.0 $24.2 The Company makes loans primarily to customers located primarily in Baltimore County and Carroll County, Maryland and in surrounding areas of northern Maryland. Although management believes that the loan portfolio is diversified, many loans are secured by real estate and its performance will be influenced by the economy of the region, including local real estate markets.

Note 7 - Premises and Equipment

Note 7 - Premises and Equipment	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	7. Premises and Equipment A summary of premises and equipment is as follows: Useful lives (in years) 2020 2019 Land and improvements - $ 3,237,998 $ 1,952,998 Buildings and improvements 15 - 39 6,989,622 5,659,635 Furniture and equipment 3 - 10 4,509,439 4,053,075 14,737,059 11,665,708 Accumulated depreciation and amortization 7,000,503 6,628,857 $ 7,736,556 $ 5,036,851 Depreciation and amortization expense $ 371,646 $ 295,020 The Bank has entered into a contract to sell for $1,370,000 one two December 31, 2020 $1,322,000, March 31, 2021. Software with a net book value of $155,122 $47,802 December 31, 2020 2019, $44,135 $49,151 2020 2019,

Note 8 - Goodwill and Other Int

Note 8 - Goodwill and Other Intangibles	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	8. Goodwill and Other Intangibles The acquisition of Carroll in October 2020 Goodwill CDI Total 2020 Balance at beginning of the year $ - $ - $ - Acquired during the year 6,978,208 83,282 7,061,490 Amortization - (2,082 ) (2,082 ) Adjustments - - - Balance at end of year $ 6,978,208 $ 81,200 $ 7,059,408 The CDI is being amortized over 10 $8,328 9 $6,246 10. not

Note 9 - Commitments and Contin

Note 9 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	9. Commitments and Contingencies Lease Commitments The Company has an operating lease for the land on which the Hampstead branch is located. The initial term of the lease expired on September 30, 2009 three five September 30, 2024. five five July 2012, five January 2018, one five five June 2015. July 2019, June 2020 three five May 2018, five two five The following table shows operating lease right of use assets and operating lease liabilities as of December 31, 2020: Consolidated Balance Sheet classification December 31, 2020 December 31, 2019 Operating lease right of use asset Other assets $ 1,242,832 $ 1,392,281 Operating lease liabilities Other liabilities 1,443,966 1,559,356 Operating lease cost included in occupancy expense in the statement of income was $ 195,106 2020 $195,039 2019. Future undiscounted lease payments for operating leases with initial terms of one December 31, 2020 Year Amount 2021 $ 210,956 2022 221,497 2023 228,531 2024 234,910 2025 241,483 Thereafter 899,195 Total lease payments 2,036,572 Less imputed interest (592,606 ) Present value of operating lease liabilities $ 1,443,966 For operating leases as of December 31, 2020, 8.51 3.25%. December 31, 2020 2019, 161,046 $154,127, Credit Commitments Outstanding loan commitments, unused lines of credit, and letters of credit as of December 31, 2020 2019 Loan commitments Construction and land development $ 4,668,250 $ 1,322,275 Commercial 1,000,000 4,102,000 Commercial real estate 15,772,020 7,560,714 Residential 4,668,750 770,499 $ 26,109,020 $ 13,755,488 Unused lines of credit Home-equity lines $ 13,716,894 $ 3,700,404 Commercial lines 23,996,679 22,229,095 $ 37,713,573 $ 25,929,499 Letters of credit $ 1,891,428 $ 1,935,613 Loan commitments and lines of credit are agreements to lend to a customer as long as there is no may not third The maximum exposure to credit loss in the event of nonperformance by the customer is the contractual amount of the commitment. Loan commitments, lines of credit and letters of credit are made on the same terms, including collateral, as outstanding loans. Management is not Insurance Reserves The Insurance Subsidiary insures risks of the Bank (primarily professional liability) that are not one not December 31, 2020 2019 $315,419 $191,951,

Note 10 - Retirement Plans

Note 10 - Retirement Plans	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Retirement Benefits [Text Block]	10. Retirement Plans The Company has a profit sharing plan qualifying under Section 401 21 six 4% may 100% $237,612 $193,109 2020 2019, The Company has entered into agreements with 12 $6,356 $5,873 2020 2019, The Company adopted supplemental executive retirement plans for three $207,858 $145,964 2020 2019, Retirement plan expenses are included in employee benefits on the Consolidated Statements of Income.

Note 11 - Interest-bearing Depo

Note 11 - Interest-bearing Deposits	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Deposit Liabilities Disclosures [Text Block]	11. Interest-Bearing Deposits Major classifications of interest-bearing deposits are as follows: 2020 2019 NOW $ 107,763,512 $ 63,299,218 Money market 83,740,032 54,323,501 Savings 80,890,934 47,572,517 Certificates of deposit, $250,000 or more 38,700,152 33,251,181 Other time deposits 159,151,804 117,507,882 $ 470,246,434 $ 315,954,299 As of December 31, 2020, Year Amount 2021 $ 133,669,557 2022 38,374,714 2023 21,959,383 2024 2,152,623 2025 1,695,679 $ 197,851,956

Note 12 - Borrowed Funds

Note 12 - Borrowed Funds	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Debt Disclosure [Text Block]	12. Borrowed Funds Borrowed funds consist of securities sold under repurchase agreements, which represent overnight or term borrowings from customers, advances from the FHLB of Atlanta, the FRB, and overnight borrowings from a commercial bank. The government agency securities that are the collateral for these agreements are owned by the Company and maintained in the custody of an unaffiliated agent designated by the Company. On September 30, 2020, $17,000,000 October 1, 2020, $28,126, $16,971,874. September 30, 2025. 4.10%. October 1, 2021. $174,250. $646,472, nine $9,916,667 Additional information is as follows: 2020 2019 Amounts outstanding at year-end: Securities sold under repurchase agreements $ 24,753,972 $ 10,958,118 Federal Home Loan Bank advances: Maturity date Interest Rate Amount 3/30/2025 1.00% 5,000,000 - Long-term debt (net of isuuance costs): Maturity date Interest Rate Amount 9/30/2025 4.10% 16,973,280 - Weighted average rate paid at December 31: Securities sold under repurchase agreements 0.61 % 1.49 % Federal Home Loan Bank advances 1.00 % 0.00 % Long-term debt 4.10 % 0.00 % Maximum month-end amount outstanding during the year ended December 31: Securities sold under repurchase agreements $ 24,753,972 $ 10,958,118 Federal Home Loan Bank advances 10,000,000 6,500,000 Long-term debt (net of isuuance costs) 16,973,280 - Average amount outstanding during the year ended December 31: Securities sold under repurchase agreements $ 9,355,593 $ 9,273,092 Federal Home Loan Bank advances 4,877,052 2,610,959 Borrowings from FRB and commercial banks - 90,966 Long-term debt (net of isuuance costs) 4,425,976 - Average rate paid during the year ended December 31: Securities sold under repurchase agreements 1.15 % 1.24 % Federal Home Loan Bank advances 0.84 % 1.62 % Borrowings from FRB and commercial banks 0.00 % 2.91 % Long-term debt 4.10 % 0.00 % Investment securities underlying the repurchase agreements at December 31: Carrying value $ 34,958,212 $ 11,441,474 Estimated fair value 35,880,915 11,859,595 Loans pledged to the Federal Home Loan Bank at December 31: Carrying value - loans $ 115,282,801 $ 80,432,808 Loans pledged to the Federal Reserve Bank at December 31: Carrying value $ 76,027,628 $ 46,086,041 The Company is approved to borrow approximately $89.3 $33.2 $14.5 $9

Note 13 - Other Noninterest Exp

Note 13 - Other Noninterest Expenses	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Other Income and Other Expense Disclosure [Text Block]	13. Other Noninterest Expenses Other noninterest expenses include the following: 2020 2019 Professional services $ 424,813 $ 448,704 Automated teller machine and debit card expenses 278,989 254,792 Advertising 237,909 292,301 Telephone 224,805 204,486 Stationery, printing, and supplies 208,510 181,823 Directors fees 203,335 212,161 Federal Deposit Insurance Corporation premiums 201,714 30,571 Insurance claims 200,000 178,500 Internet banking fees 185,815 152,750 Postage, delivery, and armored carrier 145,544 154,583 Correspondent bank services 135,621 128,622 Liability insurance 54,251 49,447 Other taxes 52,544 - Maryland state regulatory assessment 51,310 48,794 Dues and subscriptions 48,517 41,261 Credit reports 42,592 29,825 Remote deposit expenses 37,298 31,278 Other real estate owned 34,861 13,408 Travel and conferences 27,141 52,152 Payroll processing 25,830 21,406 Other 129,244 137,679 $ 2,950,643 $ 2,664,543

Note 14 - Income Taxes

Note 14 - Income Taxes	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Income Tax Disclosure [Text Block]	14. Income Taxes The components of income tax expense are as follows: 2020 2019 Current Federal $ 387,193 $ 756,984 State 251,349 336,191 638,542 1,093,175 Deferred (151,331 ) (53,841 ) $ 487,211 $ 1,039,334 The components of the deferred tax expense are as follows: 2020 2019 Depreciation $ 18,006 $ 10,501 Provision for loan losses 171,984 (11,007 ) Other real estate owned allowance for loss - (57,828 ) Nonaccrual interest 2,752 31,691 Prepaid captive insurance premium (76,855 ) 21,373 Write-down of equity securities (2,893 ) 9,767 Capitol loss carryover - (5,300 ) Lease liability, net of right of use asset 9,372 (11,258 ) Purchase accounting adjustments (29,982 ) - Post-retirement benefits 58,947 (41,780 ) $ 151,331 $ (53,841 ) The components of the net deferred tax asset are as follows: Deferred tax assets Allowance for loan losses $ 809,860 $ 637,848 Other real estate owned allowance for loss 388,066 286,182 Write-down of equity securities - 2,864 Capital loss carryover 5,300 5,300 Nonaccrual interest 4,620 - Post-retirement benefits 603,390 544,442 Purchase accounting adjustments 392,341 - Lease liability, net of right of use asset 55,347 45,975 2,258,924 1,522,611 Deferred tax liabilities Prepaid captive insurance premium 371,894 295,039 Write-down of equity securities 15,606 - Unrealized gain on securities available for sale 328,986 16,182 Depreciation 322,770 175,312 1,039,256 486,533 Net deferred tax asset $ 1,219,668 $ 1,036,078 The differences between the federal income tax rate in effect each year and the effective tax rate for the Company are reconciled as follows: Statutory federal income tax rate 21.0 % 21.0 % Increase (decrease) resulting from: Federal tax-exempt income (12.3 ) (7.0 ) State income taxes, net of federal income tax benefit 4.5 4.4 Nondeductible expenses 2.2 0.1 Other - 0.1 15.4 % 18.6 % Included in Federal tax-exempt income is the insurance premium revenue of the Insurance Subsidiary. Our fiscal year 2016, 2017, 2018 not not not $2.6 December 31, 2020. not The Company does not not December 31, 2016

Note 15 - Capital Standards

Note 15 - Capital Standards	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Regulatory Capital Requirements under Banking Regulations [Text Block]	15. 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, insured depository institutions are required to meet the following in order to qualify as "well capitalized:" ( 1 1 6.5%; 2 1 8%; 3 10%; 4 1 5%. The implementation of the capital conservation buffer began on January 1, 2016, 0.625% four January 1, 2.5% January 1, 2020 not The aforementioned capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of Common Equity Tier 1 The following table presents actual and required capital ratios as of December 31, 2020 2019, December 31, 2020 2019, As of December 31, 2020 no The FDIC, through formal or informal agreement, has the authority to require an institution to maintain higher capital ratios than those provided by statute, to be categorized as well capitalized under the regulatory framework for prompt corrective action. The following table presents actual and required capital ratios as of December 31, 2020 2019, Minimum To Be Well (Dollars in thousands) Actual Capital Adequacy Capitalized December 31, 2020 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 63,400 12.62 % $ 52,732 10.50 % $ 50,221 10.00 % Tier 1 capital (to risk-weighted assets) 60,104 11.97 % 42,688 8.50 % 40,177 8.00 % Common equity tier 1 (to risk-weighted assets) 60,104 11.97 % 35,155 7.00 % 32,644 6.50 % Tier 1 leverage (to average assets) 60,104 9.05 % 26,569 4.00 % 33,211 5.00 % Minimum To Be Well (Dollars in thousands) Actual Capital Adequacy Capitalized December 31, 2019 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 51,274 13.88 % $ 38,775 10.50 % $ 36,928 10.00 % Tier 1 capital (to risk-weighted assets) 48,681 13.18 % 31,389 8.50 % 29,543 8.00 % Common equity tier 1 (to risk-weighted assets) 48,681 13.18 % 25,850 7.00 % 24,003 6.50 % Tier 1 leverage (to average assets) 48,681 10.94 % 17,798 4.00 % 22,247 5.00 %

Note 16 - Fair Value

Note 16 - Fair Value	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Fair Value Disclosures [Text Block]	16. 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% $0 ● Impaired loans: Nonrecurring fair value adjustments to impaired loans reflect full or partial write-downs and reserves that are based on the impaired loan's observable market price or current appraised value of the collateral. Since the market for impaired loans is not 3. third 10% The following table summarizes financial assets measured at fair value on a recurring and nonrecurring basis as of December 31, 2020 2019, Carrying Value: Level 1 Level 2 Level 3 Total December 31, 2020 Recurring Available for sale securities State and municipal $ - $ 986,532 $ - $ 986,532 SBA pools - 1,783,807 - 1,783,807 Corporate bonds - 6,797,431 - 6,797,431 Mortgage-backed securities - 44,909,516 - 44,909,516 $ - $ 54,477,286 $ - $ 54,477,286 Equity security at fair value $ 552,566 $ - $ - $ 552,566 Nonrecurring Other real estate owned $ - $ - $ 1,411,605 $ 1,411,605 Impaired loans - - 9,188,535 9,188,535 December 31, 2019 Recurring Available for sale securities State and municipal $ - $ 512,670 $ - $ 512,670 SBA pools - 2,151,797 - 2,151,797 Mortgage-backed securities - 33,867,307 - 33,867,307 $ - $ 36,531,774 $ - $ 36,531,774 Equity security at fair value $ 532,321 $ - $ - $ 532,321 Nonrecurring Other real estate owned $ - $ - $ - $ - Impaired loans - - 2,135,045 2,135,045 Reconciliation of Level 3 Inputs Other Real Impaired Estate Owned Loans December 31, 2019 fair value $ - $ 2,135,045 Additions 1,411,605 7,141,460 Advances - 26,499 Write-downs/charge-offs - - Recoveries - - Loan loss provision - - Yield premium accretion (4,139 ) Principal payments received - (110,330 ) December 31, 2020 fair value $ 1,411,605 $ 9,188,535 The estimated fair value of financial instruments that are reported at amortized cost in the Company's consolidated balance sheets, segregated by the level of the valuation inputs were as follows: December 31, 2020 December 31, 2019 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets Level 2 inputs Securities held to maturity $ 23,078,519 $ 24,244,786 $ 19,510,018 $ 20,097,931 Mortgage loans held for sale 1,673,350 1,705,781 242,000 245,857 Restricted stock, at cost 900,500 900,500 376,200 376,200 Level 3 inputs Loans, net 521,690,514 527,132,047 359,382,843 359,346,031 Financial liabilities Level 1 inputs Noninterest-bearing deposits $ 103,155,113 $ 103,155,113 $ 60,659,015 $ 60,659,015 Securities sold under repurchase agreements 24,753,972 24,753,972 10,958,118 10,958,118 Level 2 inputs Interest-bearing deposits 470,246,434 474,096,434 315,954,299 313,622,299 Federal Home Loan Bank advances 5,000,000 5,136,000 - - Long-term debt 16,973,280 17,018,416 - - The fair value of mortgage loans held for sale was determined by the expected sales price. The fair value of loans was determined using an exit price methodology as prescribed by FASB Accounting Standards Update 2016 01. 3 In addition, an incremental liquidity discount is applied to certain loans, using historical sales of loans during periods of similar economic conditions as a benchmark. 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 17 - Parent Company Financ

Note 17 - Parent Company Financial Information	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Condensed Financial Information of Parent Company Only Disclosure [Text Block]	17. Parent Company Financial Information The condensed financial statements for the Company (parent only) are presented below: Balance Sheets December 31, 2020 2019 Assets Cash and cash equivalents $ 200,925 $ 64,152 Investment in subsidiaries 68,645,516 49,389,364 Other assets 36,380 - $ 68,882,821 $ 49,453,516 Liabilities and Stockholders' Equity Long-term debt $ 16,973,280 $ - Accrued interest payable 180,058 - 17,153,338 - Stockholders' equity Common stock, par value $.01 per share, authorized 5,000,000 shares; issued and outstanding 3,011,255 shares in 2020 and 2,974,019 shares in 2019 30,113 29,740 Additional paid-in capital 28,294,139 27,812,991 Retained earnings 22,698,954 21,568,161 Accumulated other comprehensive income 706,277 42,624 51,729,483 49,453,516 $ 68,882,821 $ 49,453,516 Statements of Income Years Ended December 31, 2020 2019 Income Cash dividends from subsidiaries $ 9,452,045 $ 1,331,917 Total income 9,452,045 1,331,917 Interest expense - long-term debt (181,465 ) - Noninterest expense (521 ) (537 ) Income before income taxes and equity in undistributed income of subsidiaries 9,270,059 1,331,380 Income taxes (benefit) (37,812 ) - Income before before equity in undistributed income of subsidiaries 9,307,871 1,331,380 Dividends in excess of income of bank subsidiary (6,759,815 ) - Equity in undistributed income of insurance subsidiary 133,947 3,229,424 Net Income $ 2,682,003 $ 4,560,804 Statements of Cash Flows Years Ended December 31, 2020 2019 Cash flows from operating activities Net Income $ 2,682,003 $ 4,560,804 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed income of insurance subsidiary (133,947 ) (3,229,424 ) Accrued interest payable 180,058 - Amortization of debt issuance costs 1,406 - Income tax receivable (37,812 ) - Dividend received in excess of income of bank subsidiary 6,759,815 - Cash provided by operating activities 9,451,523 1,331,380 Cash flows from investing activities Contribution of capital to subsidiaries (690,000 ) (310,000 ) Acquisition of Carroll Bancorp, Inc. net of cash acquired (24,526,935 ) - Cash used by investing activities (25,216,935 ) (310,000 ) Cash flows from financing activities Long-term debt 16,971,874 - Dividends paid, net of reinvestments (1,069,689 ) (1,021,471 ) Cash provided by financing activities 15,902,185 (1,021,471 ) Net increase (decrease) in cash and cash equivalents 136,773 (91 ) Cash and cash equivalents at beginning of period 64,152 64,243 Cash and cash equivalents at end of period $ 200,925 $ 64,152

Note 18 - Quarterly Results of

Note 18 - Quarterly Results of Operations	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Quarterly Financial Information [Text Block]	18. Quarterly Results of Operations Three Months Ended Unaudited 2020 December 31 September 30 June 30 March 31 Interest income $ 6,475,562 $ 4,822,354 $ 4,755,228 $ 4,710,036 Interest expense 907,745 721,605 884,825 944,502 Net interest income 5,567,817 4,100,749 3,870,403 3,765,534 Provision for loan losses 150,000 - 350,000 125,000 Net income 417,394 385,247 1,036,055 843,307 Earnings per share - basic and diluted $ 0.14 $ 0.13 $ 0.35 $ 0.28 2019 December 31 September 30 June 30 March 31 Interest income $ 4,776,334 $ 4,719,012 $ 4,659,456 $ 4,547,536 Interest expense 977,295 956,411 924,864 821,383 Net interest income 3,799,039 3,762,601 3,734,592 3,726,153 Provision for loan losses 40,000 (13,000 ) - 13,000 Net income 1,060,786 1,177,910 1,225,821 1,096,287 Earnings per share - basic and diluted $ 0.36 $ 0.40 $ 0.42 $ 0.37

Note 19 - Litigation

Note 19 - Litigation	12 Months Ended
	Dec. 31, 2020
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	19. Litigation In the ordinary course of its business, the Company is periodically party to various legal actions normally associated with a financial institution. Management does not

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of consolidation The consolidated financial statements include the accounts of Farmers and Merchants Bancshares, Inc. and its wholly owned subsidiaries, Farmers and Merchants Bank (the “Bank”), and Series Protected Cell FCB- 4 one 100% October 1, 2020, December 31, 2020, 2019
Business Description, Policy [Policy Text Block]	Business The Bank provides banking services to individuals and businesses located in Baltimore County, Maryland, Carroll County, Maryland and surrounding areas of northern Maryland. The Insurance Subsidiary is a captive insurance entity that provides insurance coverage for the Bank. Reliable Community Financial Services, Inc. is licensed to provide a wide range of investment and insurance products to its customers, but is inactive.
Reclassification, Comparability Adjustment [Policy Text Block]	Reclassifications Certain reclassifications have been made to the 2019 no
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and cash equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, money market funds, and federal funds sold. Generally, federal funds are purchased and sold for one
Comprehensive Income, Policy [Policy Text Block]	Comprehensive income Comprehensive income includes net income and the unrealized gains or losses on investment securities available for sale, net of income taxes.
Investment, Policy [Policy Text Block]	Investment securities As securities are purchased, management determines if the securities should be classified as held to maturity or available for sale. Securities which management has the intent and ability to hold to maturity are recorded at amortized cost, which is cost adjusted for amortization of premiums and accretion of discounts. Discounts are accreted through maturity. Premiums are amortized through the earliest call date. Securities held to meet liquidity needs or which may
Equity Securities, Policy [Policy Text Block]	Equity security at fair value The Company owns a mutual fund that is measured at fair value with changes in fair value recognized in noninterest income.
Federal Home Loan Bank stocks [Policy Text Block]	Restricted stock, at cost Restricted stock consists of Federal Home Loan Bank of Atlanta (the “FHLB”) stock, Community Bankers Bank (“CBB”) stock, and Atlantic Community Bankers Bank (“ACBB”) stock. As a member of the FHLB, the Bank is required to purchase FHLB stock in an amount that is based on the Bank's total assets. Additional stock is purchased and redeemed based on the outstanding FHLB advances to the Bank. CBB and ACBB require its correspondent banking institutions to hold stock as a condition of membership. The restricted investment in bank stocks is carried at cost. On a quarterly basis, management evaluates the bank stocks for impairment based on assessment of the ultimate recoverability of cost rather than by recognizing temporary declines in value. The determination of whether a decline affects the ultimate recoverability of cost is influenced by criteria such as operating performance, liquidity, funding and capital positions, stock repurchase history, dividend history, and impact of legislative and regulatory changes.
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block]	Loans and allowance for loan losses Loans are stated at the current amount of unpaid principal, adjusted for deferred origination costs, deferred origination fees, and the allowance for loan losses. Interest on loans is accrued based on the principal amounts outstanding. Origination fees and costs are amortized to income over the terms of loans. Past due status is based on the contractual terms of the loan. Management may 90 not The allowance for loan losses represents an amount which, in management's judgment, will be adequate to absorb probable losses on existing loans and other extensions of credit that may three not The allowances established for probable losses on impaired loans are based on a regular analysis and evaluation of problem loans. Management maintains a watch list of problem loans. Loans are classified based on an internal credit risk grading process that evaluates, among other things: (i) the obligor's ability to repay; (ii) the underlying collateral, if any; (iii) the economic environment; and (iv) for commercial borrowers, the industry in which the borrower operates. Specific valuation allowances are determined when the collateral value, if the loan is collateral dependent, or the discounted cash flows of the impaired loan is lower than the carrying value. Historical valuation allowances are calculated based on the historical loss experience of specific types of loans. The Company calculates historical loss ratios for pools of similar loans with similar characteristics based on the proportion of actual charge-offs experienced to the total population of loans in the pool over the prior eight twenty December 31, 2020 2019, twenty Adjustments to the historical valuation allowances are based on general economic conditions and other qualitative risk factors both internal and external to the Company. In general, such adjustments are determined by evaluating, among other things: (i) the impact of economic conditions on the portfolio; (ii) changes in asset quality, including delinquency trends; (iii) the impact of changing interest rates on portfolio risk; (iv) changes in legislative and regulatory policy; (v) the composition and concentrations of credit; and (vi) the effectiveness of the internal loan review function as well as changes to policies and experience of loan personnel. Management evaluates these qualitative factors on a quarterly basis. Each factor could result in an adjustment that is positive, negative, or no Loan losses are charged to the allowance when management believes that collection is unlikely. Collections of loans previously charged off are added to the allowance at the time of recovery. Loans acquired in connection with business combinations are recorded at fair value with no The excess of cash flows expected at acquisition over the estimated fair value is referred to as the accretable discount and is recognized into interest income over the remaining life of the loan. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the nonaccretable discount. These loans are accounted for under ASC 310 30, 310 30" Loans acquired through business combinations that meet the specific criteria of ASC 310 30 Loans acquired through business combinations that do not 310 30 310 20, no Acquired loans that meet the criteria for impairment or nonaccrual of interest prior to the acquisition may may no may first
Mortgage Banking Activity [Policy Text Block]	Mortgage loans held for sale and mortgage banking income Mortgage loans held for sale are carried at the lower of aggregate cost or fair value based on the current fair value of each outstanding loan. Sales of loans are recorded when the proceeds are received, with any gain or loss recorded in mortgage banking income. The Company sells its mortgage loans to third no third not third
Property, Plant and Equipment, Policy [Policy Text Block]	Premises and equipment Land is carried at cost. Premises and equipment are recorded at cost less accumulated depreciation and amortization. Depreciation on buildings and equipment is computed over the estimated useful lives of the assets using the straight-line method. Leasehold improvements are amortized using the straight-line method over the term of the lease or the estimated useful lives of the asset, whichever is shorter.
Real Estate Owned, Valuation Allowance, Policy [Policy Text Block]	Other real estate owned Real estate acquired through foreclosure or by deed in lieu of foreclosure is recorded at the lower of cost or fair value less estimated costs to sell on the date acquired. Losses incurred at the time of acquisition of the property are charged to the allowance for loan losses. Subsequent reductions in the estimated value of the property are included with any gains or losses on sale in noninterest income.
Bank Owned Life Insurance, Policy [Policy Text Block]	Bank owned life insurance The Company has purchased life insurance policies on certain key executives. Company owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement.
Goodwill and Intangible Assets, Policy [Policy Text Block]	Goodwill and other intangible assets Goodwill is calculated as the purchase premium, if any, after adjusting for the fair value of net assets acquired in purchase transactions. Goodwill is not 10
Revenue from Contract with Customer [Policy Text Block]	Revenue recognition On January 1, 2018, 2014 09 no
Lessee, Leases [Policy Text Block]	Operating leases On January 1, 2019, 2016 02, 842 2016‑02, 2016 02, January 1, 2019, $1,400,855, $1,527,019, $91,447 $34,717
Income Tax, Policy [Policy Text Block]	Income taxes The provision for income taxes includes income taxes payable for the current year and deferred income taxes. Deferred tax assets and liabilities are determined based on the difference between the financial statement bases and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. A tax position is recognized as a benefit only if it is “more likely than not” 50% not not” no
Earnings Per Share, Policy [Policy Text Block]	Per share data Earnings per share are determined by dividing net income by the weighted average number of shares of common stock outstanding, giving retroactive effect to any stock dividends. Weighted average shares were 2,983,972 2,952,904 2020 2019, No December 31, 2020 December 31, 2019.
Subsequent Events, Policy [Policy Text Block]	Subsequent events The Company has evaluated events and transactions occurring subsequent to the statement of financial condition date of December 31, 2020 855,

Note 2 - Acquisition of Carro_2

Note 2 - Acquisition of Carroll Bancorp, Inc. (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Book value Fair value Cash $ 5,441,610 $ 5,441,610 Certificates of deposit in other banks 750,000 750,000 Securities available for sale 12,863,795 12,922,620 Restricted stock, at cost 926,700 926,700 Loans held for sale 1,702,950 1,743,195 Loans 145,153,100 145,080,950 Premises and equipment 2,619,413 2,684,240 Other real estate owned 1,411,605 1,411,605 Other assets 5,290,717 5,388,546 Goodwill and other intangibles - 7,061,490 Total assets $ 176,159,890 $ 183,410,956 Deposits $ 144,896,990 $ 145,513,085 FHLB advances 13,000,000 13,000,000 Other liabilities 95,296 90,143 Total liabilities 157,992,286 158,603,228 Stockholders' equity 18,167,604 24,807,728 Total liabilities and stockholders' equity $ 176,159,890 $ 183,410,956

Note 4 - Investment Securities

Note 4 - Investment Securities (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Marketable Securities [Table Text Block]	Amortized Unrealized Unrealized Fair December 31, 2020 cost gains losses value Available for sale State and municipal $ 962,438 $ 24,094 $ - $ 986,532 SBA pools 1,822,226 - 38,419 1,783,807 Corporate bonds 6,692,156 108,172 2,897 6,797,431 Mortgage-backed securities 44,026,055 941,987 58,526 44,909,516 $ 53,502,875 $ 1,074,253 $ 99,842 $ 54,477,286 Held to maturity State and municipal $ 23,078,519 $ 1,177,125 $ 10,858 $ 24,244,786 December 31, 2019 Available for sale State and municipal $ 508,134 $ 4,536 $ - $ 512,670 SBA pools 2,203,834 - 52,037 2,151,797 Mortgage-backed securities 33,760,999 255,843 149,535 33,867,307 $ 36,472,967 $ 260,379 $ 201,572 $ 36,531,774 Held to maturity State and municipal $ 19,510,018 $ 588,393 $ 480 $ 20,097,931
Investments Classified by Contractual Maturity Date [Table Text Block]	Available for Sale Held to Maturity Amortized Fair Amortized Fair December 31, 2020 cost value cost value Within one year $ 505,372 $ 502,475 $ 487,741 $ 496,463 Over one to five years 4,646,388 4,755,483 793,876 813,523 Over five to ten years 2,300,591 2,323,451 2,476,827 2,687,063 Over ten years 202,243 202,554 19,320,075 20,247,737 7,654,594 7,783,963 23,078,519 24,244,786 Mortgage-backed securities and SBA pools, due in monthly installments 45,848,281 46,693,323 - - $ 53,502,875 $ 54,477,286 $ 23,078,519 $ 24,244,786 Available for Sale Held to Maturity Amortized Fair Amortized Fair December 31, 2019 cost value cost value Within one year $ - $ - $ 257,150 $ 261,204 Over one to five years 258,134 258,838 562,587 565,140 Over five to ten years 250,000 253,832 2,717,125 2,782,474 Over ten years - - 15,973,156 16,489,113 508,134 512,670 19,510,018 20,097,931 Mortgage-backed securities and SBA pools, due in monthly installments 35,964,833 36,019,104 - - $ 36,472,967 $ 36,531,774 $ 19,510,018 $ 20,097,931
Schedule of Unrealized Loss on Investments [Table Text Block]	December 31, 2020 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 $ 719,430 $ 10,858 $ - $ - $ 719,430 $ 10,858 SBA pools - - 1,783,807 38,419 1,783,807 38,419 Corporate bonds 502,754 2,897 - - 502,754 2,897 Mortgage-backed securities 9,286,525 57,987 96,652 539 9,383,177 58,526 Total $ 10,508,709 $ 71,742 $ 1,880,459 $ 38,958 $ 12,389,168 $ 110,700 December 31, 2019 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 $ 251,618 $ 480 $ - $ - $ 251,618 $ 480 SBA pools - - 2,151,797 52,037 2,151,797 52,037 Mortgage-backed securities 10,643,624 58,063 7,295,788 91,472 17,939,412 149,535 Total $ 10,895,242 $ 58,543 $ 9,447,585 $ 143,509 $ 20,342,827 $ 202,052

Note 5 - Related Party Transa_2

Note 5 - Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Related Party Transactions [Table Text Block]	2020 2019 Balance, beginning of year $ 14,551,236 $ 13,955,097 Additions 1,771,200 5,934,975 Amounts collected (1,763,554 ) (5,338,836 ) Balance, end of year $ 14,558,882 $ 14,551,236

Note 6 - Loans (Tables)

Note 6 - Loans (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	2020 2019 Real estate: Commercial $ 274,501,327 $ 240,938,149 Construction and land development 33,641,916 18,194,955 Residential 156,111,245 76,122,069 Commercial 61,368,105 26,947,503 Consumer 288,454 292,027 525,911,047 362,494,703 Less: Allowance for loan losses 3,296,538 2,593,715 Deferred origination fees net of costs 923,995 518,145 $ 521,690,514 $ 359,382,843
Financing Receivable, Nonaccrual [Table Text Block]	2020 2019 Real estate: Commercial $ 4,407,829 $ - Residential 220,967 - $ 4,628,796 $ -
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 December 31, 2020 Real estate: Commercial $ 182,656 $ - $ - $ 182,656 $ 274,318,671 $ 274,501,327 $ - Construction and land development - - - - 33,641,916 33,641,916 - Residential 24,591 - 220,967 245,558 155,865,687 156,111,245 - Commercial - - - - 61,368,105 61,368,105 - Consumer - - - - 288,454 288,454 - Total $ 207,247 $ - $ 220,967 $ 428,214 $ 525,482,833 $ 525,911,047 $ - December 31, 2019 Real estate: Commercial $ 224,794 $ - $ - $ 224,794 $ 240,713,355 $ 240,938,149 $ - Construction and land development - - - - 18,194,955 18,194,955 - Residential 59,892 - - 59,892 76,062,177 76,122,069 - Commercial - - - - 26,947,503 26,947,503 - Consumer - - - - 292,027 292,027 - Total $ 284,686 $ - $ - $ 284,686 $ 362,210,017 $ 362,494,703 $ -
Impaired Financing Receivables [Table Text Block]	Unpaid Recorded Recorded Contractual Investment Investment Total Average Principal With No With Recorded Related Recorded Interest Balance Allowance Allowance Investment Allowance Investment Recognized December 31, 2020 Commercial real estate $ 7,246,478 $ 6,660,145 $ 151,553 $ 6,811,698 $ - $ 4,448,343 $ 352,938 Construction and land development 1,719,010 - 1,566,174 1,566,174 - 783,087 22,520 Residential real estate 1,121,649 215,229 595,434 810,663 - 430,360 10,656 $ 10,087,137 $ 6,875,374 $ 2,313,161 $ 9,188,535 $ - $ 5,661,790 $ 386,114 December 31, 2019 Commercial real estate $ 2,084,988 $ 2,084,988 $ - $ 2,084,988 $ - $ 2,631,185 $ 106,874 Residential real estate 50,057 50,057 - 50,057 - 25,029 2,876 $ 2,135,045 $ 2,135,045 $ - $ 2,135,045 $ - $ 2,656,214 $ 109,750
Financing Receivable Credit Quality Indicators [Table Text Block]	Above Pass Special December 31, 2020 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ 2,010,472 $ 80,782,360 $ 83,504,722 $ 93,013,211 $ 5,951,177 $ 9,239,385 $ - $ 274,501,327 Construction and land development - - 2,962,300 15,944,499 13,168,844 - 1,566,273 - 33,641,916 Residential 36,285 1,026,824 79,207,040 45,302,862 27,611,830 - 2,926,404 - 156,111,245 Commercial 32,088,058 - 10,037,516 13,532,170 5,710,361 - - - 61,368,105 Consumer 13,729 109,955 131,171 6,671 15,663 - - 11,265 288,454 $ 32,138,072 $ 3,147,251 $ 173,120,387 $ 158,290,924 $ 139,519,909 $ 5,951,177 $ 13,732,062 $ 11,265 $ 525,911,047 Above Pass Special December 31, 2019 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ 2,769,944 $ 91,274,940 $ 110,566,629 $ 27,438,005 $ - $ 8,888,631 $ - $ 240,938,149 Construction and land development - 216,000 4,737,737 8,572,151 4,669,067 - - - 18,194,955 Residential 39,817 1,633,783 30,767,418 34,784,120 6,386,377 - 2,510,554 - 76,122,069 Commercial 153,848 20,000 11,682,299 11,995,143 3,096,213 - - - 26,947,503 Consumer 2,327 99,385 91,620 60,049 19,214 - 240 19,192 292,027 $ 195,992 $ 4,739,112 $ 138,554,014 $ 165,978,092 $ 41,608,876 $ - $ 11,399,425 $ 19,192 $ 362,494,703
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: December 31, 2020 balance losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 1,763,861 $ 418,806 $ - $ 47,462 $ 2,230,129 $ - $ 2,230,129 $ 6,811,698 $ 267,689,629 Construction and land development 192,828 (5,536 ) - 14,400 201,692 - 201,692 1,566,174 32,075,742 Residential 478,124 166,515 - - 644,639 - 644,639 810,663 155,300,582 Commercial 107,782 (12,353 ) - 15,961 111,390 - 111,390 - 61,368,105 Consumer 4,133 (1,995 ) - - 2,138 - 2,138 - 288,454 Unallocated 46,987 59,563 - - 106,550 - 106,550 - - $ 2,593,715 $ 625,000 $ - $ 77,823 $ 3,296,538 $ - $ 3,296,538 $ 9,188,535 $ 516,722,512 Allowance for loan losses Outstanding loan Provision ending balance evaluated balances evaluated Beginning for loan Charge Ending for impairment: for impairment: December 31, 2019 balance losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 1,754,372 $ (11,700 ) $ - $ 21,189 $ 1,763,861 $ - $ 1,763,861 $ 2,084,988 $ 238,853,161 Construction and land development 196,374 (17,571 ) - 14,025 192,828 - 192,828 - 18,194,955 Residential 401,626 76,498 - - 478,124 - 478,124 50,057 76,072,012 Commercial 102,610 (3,995 ) - 9,167 107,782 - 107,782 - 26,947,503 Consumer 10,428 (6,295 ) - - 4,133 - 4,133 - 292,027 Unallocated 43,924 3,063 - - 46,987 - 46,987 - - $ 2,509,334 $ 40,000 $ - $ 44,381 $ 2,593,715 $ - $ 2,593,715 $ 2,135,045 $ 360,359,658
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table Text Block]	2020 Balance at beginning of the year $ - Acquired during the year 2,478,000 Accretion 227,768 Adjustments - Balance at end of year $ 2,250,232

Note 7 - Premises and Equipme_2

Note 7 - Premises and Equipment (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Property, Plant and Equipment [Table Text Block]	Useful lives (in years) 2020 2019 Land and improvements - $ 3,237,998 $ 1,952,998 Buildings and improvements 15 - 39 6,989,622 5,659,635 Furniture and equipment 3 - 10 4,509,439 4,053,075 14,737,059 11,665,708 Accumulated depreciation and amortization 7,000,503 6,628,857 $ 7,736,556 $ 5,036,851 Depreciation and amortization expense $ 371,646 $ 295,020

Note 8 - Goodwill and Other I_2

Note 8 - Goodwill and Other Intangibles (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Intangible Assets and Goodwill [Table Text Block]	Goodwill CDI Total 2020 Balance at beginning of the year $ - $ - $ - Acquired during the year 6,978,208 83,282 7,061,490 Amortization - (2,082 ) (2,082 ) Adjustments - - - Balance at end of year $ 6,978,208 $ 81,200 $ 7,059,408

Note 9 - Commitments and Cont_2

Note 9 - Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Components of Lease Assets and Liabilities [Table Text Block]	Consolidated Balance Sheet classification December 31, 2020 December 31, 2019 Operating lease right of use asset Other assets $ 1,242,832 $ 1,392,281 Operating lease liabilities Other liabilities 1,443,966 1,559,356
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Year Amount 2021 $ 210,956 2022 221,497 2023 228,531 2024 234,910 2025 241,483 Thereafter 899,195 Total lease payments 2,036,572 Less imputed interest (592,606 ) Present value of operating lease liabilities $ 1,443,966
Schedule of Credit Commitments [Table Text Block]	2020 2019 Loan commitments Construction and land development $ 4,668,250 $ 1,322,275 Commercial 1,000,000 4,102,000 Commercial real estate 15,772,020 7,560,714 Residential 4,668,750 770,499 $ 26,109,020 $ 13,755,488 Unused lines of credit Home-equity lines $ 13,716,894 $ 3,700,404 Commercial lines 23,996,679 22,229,095 $ 37,713,573 $ 25,929,499 Letters of credit $ 1,891,428 $ 1,935,613

Note 11 - Interest-bearing De_2

Note 11 - Interest-bearing Deposits (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Deposit Liabilities, Type [Table Text Block]	2020 2019 NOW $ 107,763,512 $ 63,299,218 Money market 83,740,032 54,323,501 Savings 80,890,934 47,572,517 Certificates of deposit, $250,000 or more 38,700,152 33,251,181 Other time deposits 159,151,804 117,507,882 $ 470,246,434 $ 315,954,299
Time Deposit Maturities [Table Text Block]	Year Amount 2021 $ 133,669,557 2022 38,374,714 2023 21,959,383 2024 2,152,623 2025 1,695,679 $ 197,851,956

Note 12 - Borrowed Funds (Table

Note 12 - Borrowed Funds (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Debt [Table Text Block]	2020 2019 Amounts outstanding at year-end: Securities sold under repurchase agreements $ 24,753,972 $ 10,958,118 Federal Home Loan Bank advances: Maturity date Interest Rate Amount 3/30/2025 1.00% 5,000,000 - Long-term debt (net of isuuance costs): Maturity date Interest Rate Amount 9/30/2025 4.10% 16,973,280 - Weighted average rate paid at December 31: Securities sold under repurchase agreements 0.61 % 1.49 % Federal Home Loan Bank advances 1.00 % 0.00 % Long-term debt 4.10 % 0.00 % Maximum month-end amount outstanding during the year ended December 31: Securities sold under repurchase agreements $ 24,753,972 $ 10,958,118 Federal Home Loan Bank advances 10,000,000 6,500,000 Long-term debt (net of isuuance costs) 16,973,280 - Average amount outstanding during the year ended December 31: Securities sold under repurchase agreements $ 9,355,593 $ 9,273,092 Federal Home Loan Bank advances 4,877,052 2,610,959 Borrowings from FRB and commercial banks - 90,966 Long-term debt (net of isuuance costs) 4,425,976 - Average rate paid during the year ended December 31: Securities sold under repurchase agreements 1.15 % 1.24 % Federal Home Loan Bank advances 0.84 % 1.62 % Borrowings from FRB and commercial banks 0.00 % 2.91 % Long-term debt 4.10 % 0.00 % Investment securities underlying the repurchase agreements at December 31: Carrying value $ 34,958,212 $ 11,441,474 Estimated fair value 35,880,915 11,859,595 Loans pledged to the Federal Home Loan Bank at December 31: Carrying value - loans $ 115,282,801 $ 80,432,808 Loans pledged to the Federal Reserve Bank at December 31: Carrying value $ 76,027,628 $ 46,086,041

Note 13 - Other Noninterest E_2

Note 13 - Other Noninterest Expenses (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Other Nonoperating Income (Expense) [Table Text Block]	2020 2019 Professional services $ 424,813 $ 448,704 Automated teller machine and debit card expenses 278,989 254,792 Advertising 237,909 292,301 Telephone 224,805 204,486 Stationery, printing, and supplies 208,510 181,823 Directors fees 203,335 212,161 Federal Deposit Insurance Corporation premiums 201,714 30,571 Insurance claims 200,000 178,500 Internet banking fees 185,815 152,750 Postage, delivery, and armored carrier 145,544 154,583 Correspondent bank services 135,621 128,622 Liability insurance 54,251 49,447 Other taxes 52,544 - Maryland state regulatory assessment 51,310 48,794 Dues and subscriptions 48,517 41,261 Credit reports 42,592 29,825 Remote deposit expenses 37,298 31,278 Other real estate owned 34,861 13,408 Travel and conferences 27,141 52,152 Payroll processing 25,830 21,406 Other 129,244 137,679 $ 2,950,643 $ 2,664,543

Note 14 - Income Taxes (Tables)

Note 14 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	2020 2019 Current Federal $ 387,193 $ 756,984 State 251,349 336,191 638,542 1,093,175 Deferred (151,331 ) (53,841 ) $ 487,211 $ 1,039,334
Schedule of Components of Deferred Tax Expense Benefit [Table Text Block]	2020 2019 Depreciation $ 18,006 $ 10,501 Provision for loan losses 171,984 (11,007 ) Other real estate owned allowance for loss - (57,828 ) Nonaccrual interest 2,752 31,691 Prepaid captive insurance premium (76,855 ) 21,373 Write-down of equity securities (2,893 ) 9,767 Capitol loss carryover - (5,300 ) Lease liability, net of right of use asset 9,372 (11,258 ) Purchase accounting adjustments (29,982 ) - Post-retirement benefits 58,947 (41,780 ) $ 151,331 $ (53,841 )
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	Deferred tax assets Allowance for loan losses $ 809,860 $ 637,848 Other real estate owned allowance for loss 388,066 286,182 Write-down of equity securities - 2,864 Capital loss carryover 5,300 5,300 Nonaccrual interest 4,620 - Post-retirement benefits 603,390 544,442 Purchase accounting adjustments 392,341 - Lease liability, net of right of use asset 55,347 45,975 2,258,924 1,522,611 Deferred tax liabilities Prepaid captive insurance premium 371,894 295,039 Write-down of equity securities 15,606 - Unrealized gain on securities available for sale 328,986 16,182 Depreciation 322,770 175,312 1,039,256 486,533 Net deferred tax asset $ 1,219,668 $ 1,036,078
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	Statutory federal income tax rate 21.0 % 21.0 % Increase (decrease) resulting from: Federal tax-exempt income (12.3 ) (7.0 ) State income taxes, net of federal income tax benefit 4.5 4.4 Nondeductible expenses 2.2 0.1 Other - 0.1 15.4 % 18.6 %

Note 15 - Capital Standards (Ta

Note 15 - Capital Standards (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block]	Minimum To Be Well (Dollars in thousands) Actual Capital Adequacy Capitalized December 31, 2020 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 63,400 12.62 % $ 52,732 10.50 % $ 50,221 10.00 % Tier 1 capital (to risk-weighted assets) 60,104 11.97 % 42,688 8.50 % 40,177 8.00 % Common equity tier 1 (to risk-weighted assets) 60,104 11.97 % 35,155 7.00 % 32,644 6.50 % Tier 1 leverage (to average assets) 60,104 9.05 % 26,569 4.00 % 33,211 5.00 % Minimum To Be Well (Dollars in thousands) Actual Capital Adequacy Capitalized December 31, 2019 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 51,274 13.88 % $ 38,775 10.50 % $ 36,928 10.00 % Tier 1 capital (to risk-weighted assets) 48,681 13.18 % 31,389 8.50 % 29,543 8.00 % Common equity tier 1 (to risk-weighted assets) 48,681 13.18 % 25,850 7.00 % 24,003 6.50 % Tier 1 leverage (to average assets) 48,681 10.94 % 17,798 4.00 % 22,247 5.00 %

Note 16 - Fair Value (Tables)

Note 16 - Fair Value (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	Carrying Value: Level 1 Level 2 Level 3 Total December 31, 2020 Recurring Available for sale securities State and municipal $ - $ 986,532 $ - $ 986,532 SBA pools - 1,783,807 - 1,783,807 Corporate bonds - 6,797,431 - 6,797,431 Mortgage-backed securities - 44,909,516 - 44,909,516 $ - $ 54,477,286 $ - $ 54,477,286 Equity security at fair value $ 552,566 $ - $ - $ 552,566 Nonrecurring Other real estate owned $ - $ - $ 1,411,605 $ 1,411,605 Impaired loans - - 9,188,535 9,188,535 December 31, 2019 Recurring Available for sale securities State and municipal $ - $ 512,670 $ - $ 512,670 SBA pools - 2,151,797 - 2,151,797 Mortgage-backed securities - 33,867,307 - 33,867,307 $ - $ 36,531,774 $ - $ 36,531,774 Equity security at fair value $ 532,321 $ - $ - $ 532,321 Nonrecurring Other real estate owned $ - $ - $ - $ - Impaired loans - - 2,135,045 2,135,045
Fair Value, Assets Measured on Non-recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Reconciliation of Level 3 Inputs Other Real Impaired Estate Owned Loans December 31, 2019 fair value $ - $ 2,135,045 Additions 1,411,605 7,141,460 Advances - 26,499 Write-downs/charge-offs - - Recoveries - - Loan loss provision - - Yield premium accretion (4,139 ) Principal payments received - (110,330 ) December 31, 2020 fair value $ 1,411,605 $ 9,188,535
Fair Value, by Balance Sheet Grouping [Table Text Block]	December 31, 2020 December 31, 2019 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets Level 2 inputs Securities held to maturity $ 23,078,519 $ 24,244,786 $ 19,510,018 $ 20,097,931 Mortgage loans held for sale 1,673,350 1,705,781 242,000 245,857 Restricted stock, at cost 900,500 900,500 376,200 376,200 Level 3 inputs Loans, net 521,690,514 527,132,047 359,382,843 359,346,031 Financial liabilities Level 1 inputs Noninterest-bearing deposits $ 103,155,113 $ 103,155,113 $ 60,659,015 $ 60,659,015 Securities sold under repurchase agreements 24,753,972 24,753,972 10,958,118 10,958,118 Level 2 inputs Interest-bearing deposits 470,246,434 474,096,434 315,954,299 313,622,299 Federal Home Loan Bank advances 5,000,000 5,136,000 - - Long-term debt 16,973,280 17,018,416 - -

Note 17 - Parent Company Fina_2

Note 17 - Parent Company Financial Information (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Condensed Balance Sheet [Table Text Block]	Balance Sheets December 31, 2020 2019 Assets Cash and cash equivalents $ 200,925 $ 64,152 Investment in subsidiaries 68,645,516 49,389,364 Other assets 36,380 - $ 68,882,821 $ 49,453,516 Liabilities and Stockholders' Equity Long-term debt $ 16,973,280 $ - Accrued interest payable 180,058 - 17,153,338 - Stockholders' equity Common stock, par value $.01 per share, authorized 5,000,000 shares; issued and outstanding 3,011,255 shares in 2020 and 2,974,019 shares in 2019 30,113 29,740 Additional paid-in capital 28,294,139 27,812,991 Retained earnings 22,698,954 21,568,161 Accumulated other comprehensive income 706,277 42,624 51,729,483 49,453,516 $ 68,882,821 $ 49,453,516
Condensed Income Statement [Table Text Block]	Statements of Income Years Ended December 31, 2020 2019 Income Cash dividends from subsidiaries $ 9,452,045 $ 1,331,917 Total income 9,452,045 1,331,917 Interest expense - long-term debt (181,465 ) - Noninterest expense (521 ) (537 ) Income before income taxes and equity in undistributed income of subsidiaries 9,270,059 1,331,380 Income taxes (benefit) (37,812 ) - Income before before equity in undistributed income of subsidiaries 9,307,871 1,331,380 Dividends in excess of income of bank subsidiary (6,759,815 ) - Equity in undistributed income of insurance subsidiary 133,947 3,229,424 Net Income $ 2,682,003 $ 4,560,804
Condensed Cash Flow Statement [Table Text Block]	Statements of Cash Flows Years Ended December 31, 2020 2019 Cash flows from operating activities Net Income $ 2,682,003 $ 4,560,804 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed income of insurance subsidiary (133,947 ) (3,229,424 ) Accrued interest payable 180,058 - Amortization of debt issuance costs 1,406 - Income tax receivable (37,812 ) - Dividend received in excess of income of bank subsidiary 6,759,815 - Cash provided by operating activities 9,451,523 1,331,380 Cash flows from investing activities Contribution of capital to subsidiaries (690,000 ) (310,000 ) Acquisition of Carroll Bancorp, Inc. net of cash acquired (24,526,935 ) - Cash used by investing activities (25,216,935 ) (310,000 ) Cash flows from financing activities Long-term debt 16,971,874 - Dividends paid, net of reinvestments (1,069,689 ) (1,021,471 ) Cash provided by financing activities 15,902,185 (1,021,471 ) Net increase (decrease) in cash and cash equivalents 136,773 (91 ) Cash and cash equivalents at beginning of period 64,152 64,243 Cash and cash equivalents at end of period $ 200,925 $ 64,152

Note 18 - Quarterly Results o_2

Note 18 - Quarterly Results of Operations (Tables)	12 Months Ended
	Dec. 31, 2020
Notes Tables
Quarterly Financial Information [Table Text Block]	Three Months Ended Unaudited 2020 December 31 September 30 June 30 March 31 Interest income $ 6,475,562 $ 4,822,354 $ 4,755,228 $ 4,710,036 Interest expense 907,745 721,605 884,825 944,502 Net interest income 5,567,817 4,100,749 3,870,403 3,765,534 Provision for loan losses 150,000 - 350,000 125,000 Net income 417,394 385,247 1,036,055 843,307 Earnings per share - basic and diluted $ 0.14 $ 0.13 $ 0.35 $ 0.28 2019 December 31 September 30 June 30 March 31 Interest income $ 4,776,334 $ 4,719,012 $ 4,659,456 $ 4,547,536 Interest expense 977,295 956,411 924,864 821,383 Net interest income 3,799,039 3,762,601 3,734,592 3,726,153 Provision for loan losses 40,000 (13,000 ) - 13,000 Net income 1,060,786 1,177,910 1,225,821 1,096,287 Earnings per share - basic and diluted $ 0.36 $ 0.40 $ 0.42 $ 0.37

Note 1 - Summary of Significa_2

Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Jan. 01, 2019
Retained Earnings (Accumulated Deficit), Ending Balance	$ 22,698,954	$ 21,568,161
Deferred Income Tax Assets, Net, Total	$ 1,219,668	$ 1,036,078
Weighted Average Number of Shares Outstanding, Basic, Total (in shares)	2,983,972	2,952,904
Weighted Average Number Diluted Shares Outstanding Adjustment, Total (in shares)	0	0
Accounting Standards Update 2016-02 [Member]
Operating Lease, Right-of-Use Asset			$ 1,400,855
Operating Lease, Liability, Total			1,527,019
Retained Earnings (Accumulated Deficit), Ending Balance			(91,447)
Deferred Income Tax Assets, Net, Total			$ 34,717
First Community Bankers Insurance Co., LLC [Member]
Percentage of Ownership	100.00%

Note 2 - Acquisition of Carro_3

Note 2 - Acquisition of Carroll Bancorp, Inc. (Details Textual) - USD ($)	Oct. 01, 2020	Dec. 31, 2020	Dec. 31, 2019
Assets, Total		$ 677,317,082	$ 442,215,098
Liabilities, Total		625,587,599	392,761,582
Deposits, Total		$ 573,401,547	$ 376,613,314
Core Deposits [Member]
Finite-Lived Intangible Asset, Useful Life (Year)		10 years
Carroll Bancorp, Inc.[Member]
Assets, Total	$ 176,159,890
Financing Receivable, after Allowance for Credit Loss, Total	145,153,100
Liabilities, Total	157,992,286
Deposits, Total	144,896,990
Carroll Bancorp, Inc.[Member]
Business Combination, Consideration Transferred, Total	24,800,000
Payments to Acquire Businesses, Gross	7,800,000
Business Combination, Consideration Transferred, Liabilities Incurred	17,000,000
Carroll Bancorp, Inc.[Member] | Core Deposits [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 83,282
Finite-Lived Intangible Asset, Useful Life (Year)	10 years

Note 2 - Acquisition of Carro_4

Note 2 - Acquisition of Carroll Bancorp, Inc. - Estimate of Fair Value (Details) - Carroll Bancorp, Inc.[Member]	Oct. 01, 2020USD ($)
Cash	$ 5,441,610
Certificates of deposit in other banks	750,000
Securities available for sale	12,922,620
Restricted stock, at cost	926,700
Loans held for sale	1,743,195
Loans	145,080,950
Premises and equipment	2,684,240
Other real estate owned	1,411,605
Other assets	5,388,546
Goodwill and other intangibles	7,061,490
Total assets	183,410,956
Deposits	145,513,085
FHLB advances	13,000,000
Other liabilities	90,143
Total liabilities	158,603,228
Stockholders' equity	24,807,728
Total liabilities and stockholders' equity	183,410,956
Reported Value By Acquiree [Member]
Cash	5,441,610
Certificates of deposit in other banks	750,000
Securities available for sale	12,863,795
Restricted stock, at cost	926,700
Loans held for sale	1,702,950
Loans	145,153,100
Premises and equipment	2,619,413
Other real estate owned	1,411,605
Other assets	5,290,717
Goodwill and other intangibles
Total assets	176,159,890
Deposits	144,896,990
FHLB advances	13,000,000
Other liabilities	95,296
Total liabilities	157,992,286
Stockholders' equity	18,167,604
Total liabilities and stockholders' equity	$ 176,159,890

Note 3 - Cash and Cash Equiva_2

Note 3 - Cash and Cash Equivalents (Details Textual) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Cash, Uninsured Amount	$ 8,703,983	$ 8,500,311

Note 4 - Investment Securitie_2

Note 4 - Investment Securities (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Security Owned and Pledged as Collateral, Fair Value, Total	$ 34,958,212	$ 11,441,474
Proceeds from Sale of Debt Securities, Available-for-sale	2,025,000	$ 0
Debt Securities, Available-for-sale, Realized Gain (Loss), Total	$ 0

Note 4 - Investment Securitie_3

Note 4 - Investment Securities - Investments in Debt Securities (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Amortized cost, available for sale	$ 53,502,875	$ 36,472,967
Unrealized gains, available for sale	1,074,253	260,379
Unrealized losses, available for sale	99,842	201,572
Fair value, available for sale	54,477,286	36,531,774
Amortized cost, held to maturity	23,078,519	19,510,018
Fair value, held to maturity	24,244,786	20,097,931
US States and Political Subdivisions Debt Securities [Member]
Amortized cost, available for sale	962,438	508,134
Unrealized gains, available for sale	24,094	4,536
Unrealized losses, available for sale
Fair value, available for sale	986,532	512,670
Amortized cost, held to maturity	23,078,519	19,510,018
Unrealized gains, held to maturity	1,177,125	588,393
Unrealized losses, held to maturity	10,858	480
Fair value, held to maturity	24,244,786	20,097,931
SBA Pools [Member]
Amortized cost, available for sale	1,822,226	2,203,834
Unrealized gains, available for sale
Unrealized losses, available for sale	38,419	52,037
Fair value, available for sale	1,783,807	2,151,797
Corporate Debt Securities [Member]
Amortized cost, available for sale	6,692,156
Unrealized gains, available for sale	108,172
Unrealized losses, available for sale	2,897
Fair value, available for sale	6,797,431
Collateralized Mortgage Backed Securities [Member]
Amortized cost, available for sale	44,026,055	33,760,999
Unrealized gains, available for sale	941,987	255,843
Unrealized losses, available for sale	58,526	149,535
Fair value, available for sale	$ 44,909,516	$ 33,867,307

Note 4 - Investment Securitie_4

Note 4 - Investment Securities - Contractual Maturities (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Available for Sale Amortized cost, Within one year	$ 505,372
Available for Sale Fair value, Within one year	502,475
Held to Maturity Amortized cost, Within one year	487,741	257,150
Held to Maturity Fair value, Within one year	496,463	261,204
Available for Sale Amortized cost, Over one to five years	4,646,388	258,134
Available for Sale Fair value, Over one to five years	4,755,483	258,838
Held to Maturity Amortized cost, Over one to five years	793,876	562,587
Held to Maturity Fair value, Over one to five years	813,523	565,140
Available for Sale Amortized cost, Over five to ten years	2,300,591	250,000
Available for Sale Fair value, Over five to ten years	2,323,451	253,832
Held to Maturity Amortized cost, Over five to ten years	2,476,827	2,717,125
Held to Maturity Fair value, Over five to ten years	2,687,063	2,782,474
Available for Sale Amortized cost, Over ten years	202,243
Available for Sale Fair value, Over ten years	202,554
Held to Maturity Amortized cost, Over ten years	19,320,075	15,973,156
Held to Maturity Fair value, Over ten years	20,247,737	16,489,113
Available for Sale Amortized cost, total maturity	7,654,594	508,134
Available for Sale Fair value, total maturity	7,783,963	512,670
Held to Maturity Amortized cost, total maturity	23,078,519	19,510,018
Held to Maturity Fair value, total maturity	24,244,786	20,097,931
Available for Sale Amortized cost, due in monthly installments	45,848,281	35,964,833
Available for Sale Fair value, due in monthly installments	46,693,323	36,019,104
Held to Maturity Amortized cost, due in monthly installments
Held to Maturity Fair value, due in monthly installments
Available for Sale Amortized cost Total	53,502,875	36,472,967
Available for Sale Fair value Total	54,477,286	36,531,774
Held to Maturity Amortized cost Total	23,078,519	19,510,018
Held to Maturity Fair value Total	$ 24,244,786	$ 20,097,931

Note 4 - Investment Securitie_5

Note 4 - Investment Securities - Gross Unrealized Losses on Continuous Basis for Investment Securities (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Less than 12 months Fair value	$ 10,508,709	$ 10,895,242
Less than 12 months Unrealized losses	71,742	58,543
12 months or more Fair value	1,880,459	9,447,585
12 months or more Unrealized losses	38,958	143,509
Total Fair value	12,389,168	20,342,827
Total Unrealized losses	110,700	202,052
US States and Political Subdivisions Debt Securities [Member]
Less than 12 months Fair value	719,430	251,618
Less than 12 months Unrealized losses	10,858	480
12 months or more Fair value
12 months or more Unrealized losses
Total Fair value	719,430	251,618
Total Unrealized losses	10,858	480
SBA Pools [Member]
Less than 12 months Fair value
Less than 12 months Unrealized losses
12 months or more Fair value	1,783,807	2,151,797
12 months or more Unrealized losses	38,419	52,037
Total Fair value	1,783,807	2,151,797
Total Unrealized losses	38,419	52,037
Corporate Debt Securities [Member]
Less than 12 months Fair value	502,754
Less than 12 months Unrealized losses	2,897
12 months or more Fair value
12 months or more Unrealized losses
Total Fair value	502,754
Total Unrealized losses	2,897
Collateralized Mortgage Backed Securities [Member]
Less than 12 months Fair value	9,286,525	10,643,624
Less than 12 months Unrealized losses	57,987	58,063
12 months or more Fair value	96,652	7,295,788
12 months or more Unrealized losses	539	91,472
Total Fair value	9,383,177	17,939,412
Total Unrealized losses	$ 58,526	$ 149,535

Note 5 - Related Party Transa_3

Note 5 - Related Party Transactions (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Feb. 28, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Loans and Leases Receivable, Related Parties, Ending Balance		$ 14,558,882	$ 14,551,236	$ 13,955,097
Related Party Deposit Liabilities		20,611,092	16,237,540
Payments to Fund Long-term Loans to Related Parties		54,544	22,469
The Company Related to Director [Member] | Subsequent Event [Member]
Loans and Leases Receivable, Related Parties, Ending Balance	$ 1,100,000
The Company Related to Director [Member] | Subsequent Event [Member] | Sale Of Real Property To Related Party [Member]
Related Party Transaction, Amounts of Transaction	$ 1,370,000
Unused lines of Credit [Member]
Loans and Leases Receivable, Related Parties, Ending Balance		$ 330,315	$ 337,000

Note 5 - Related Party Transa_4

Note 5 - Related Party Transactions - Related Party Loan Activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Balance, beginning of year	$ 14,551,236	$ 13,955,097
Additions	1,771,200	5,934,975
Amounts collected	(1,763,554)	(5,338,836)
Balance, end of year	$ 14,558,882	$ 14,551,236

Note 6 - Loans (Details Textual

Note 6 - Loans (Details Textual)	3 Months Ended		9 Months Ended	12 Months Ended
	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Jun. 30, 2020USD ($)
Loans and Leases Receivable, Gross, Total	$ 525,911,047			$ 525,911,047	$ 362,494,703
Financing Receivable, Nonaccrual	4,628,796			4,628,796
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans				13,395
Impaired Financing Receivable, Related Allowance
Financing Receivable, Allowance for Credit Loss, Writeoff
Financing Receivable, Deferred Payments						$ 109,200,000
Percentage of Loan Portfolio with Modifications						30.00%
Financing Receivable, Deferred Payments, Subsequent Additional Deferrals		$ 21,800,000
Financing Receivable, Percent of Outstanding Loan Balance Additional Deferred		6.00%
Certain Loans Acquired in Transfer, Nonaccretable Difference	927,000			927,000
Certain Loans Acquired in Transfer, Accretable Yield	2,124,008			2,124,008
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance, Total	135,413,180			135,413,180
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net	134,347,454			134,347,454
Participating Mortgage Loans, Participation Liabilities, Amount	21,000,000			21,000,000	24,200,000
Federal Home Loan Bank of Atlanta [Member]
Loans Pledged as Collateral	115,300,000			115,300,000
Federal Home Loan Bank of Richmond [Member]
Loans Pledged as Collateral	76,000,000			76,000,000
Carroll Bancorp, Inc.[Member]
Financing Receivable, Deferred Payments, Subsequent Additional Deferrals	$ 14,700,000
Financing Receivable, Percent of Outstanding Loan Balance Additional Deferred	3.00%
Nonaccrual Loans [Member]
Impaired Financing Receivable, Related Allowance	$ 0			0
Allowance for Loan and Lease Losses Write-offs, Net, Total				8,176
Commercial Portfolio Segment [Member]
Loans and Leases Receivable, Gross, Total	61,368,105			61,368,105	26,947,503
Financing Receivable, Allowance for Credit Loss, Writeoff
Commercial Portfolio Segment [Member] | SBA CARES Act Paycheck Protection Program [Member]
Loans and Leases Receivable, Gross, Total	32,071,443			32,071,443
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums, Total	1,286,000			1,286,000
Commercial Real Estate Portfolio Segment [Member]
Loans and Leases Receivable, Gross, Total	$ 274,501,327			$ 274,501,327	240,938,149
Financing Receivable, Number of Loans, Nonaccrual Status	1			1
Financing Receivable, Nonaccrual	$ 4,407,829			$ 4,407,829
Impaired Financing Receivable, Related Allowance
Number of Loans Classified as TDR	2			2	1
Financing Receivable, Troubled Debt Restructuring	$ 2,252,316			$ 2,252,316	$ 2,084,988
Financing Receivable, Modifications, Number of Contracts				1
Financing Receivable, Troubled Debt Restructuring, Premodification				$ 182,656
Financing Receivable, Allowance for Credit Loss, Writeoff
Residential Portfolio Segment [Member]
Loans and Leases Receivable, Gross, Total	$ 156,111,245			$ 156,111,245	76,122,069
Financing Receivable, Number of Loans, Nonaccrual Status	2			2
Financing Receivable, Nonaccrual	$ 220,967			$ 220,967
Impaired Financing Receivable, Related Allowance
Number of Loans Classified as TDR	1			1	1
Financing Receivable, Troubled Debt Restructuring	$ 44,733			$ 44,733	$ 50,057
Financing Receivable, Allowance for Credit Loss, Writeoff
Commercial Real Estate and Residential Loans Classified As TDR [Member]
Financing Receivable, Allowance for Credit Loss, Writeoff			$ 0		$ 0

Note 6 - Loans - Major Categori

Note 6 - Loans - Major Categories of Loans (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Loans	$ 525,911,047	$ 362,494,703
Allowance for loan losses	3,296,538	2,593,715
Deferred origination fees net of costs	923,995	518,145
Loans and Leases Receivable, Net Amount, Total	521,690,514	359,382,843
Commercial Real Estate Portfolio Segment [Member]
Loans	274,501,327	240,938,149
Construction and Land Development [Member]
Loans	33,641,916	18,194,955
Residential Portfolio Segment [Member]
Loans	156,111,245	76,122,069
Commercial Portfolio Segment [Member]
Loans	61,368,105	26,947,503
Consumer Portfolio Segment [Member]
Loans	$ 288,454	$ 292,027

Note 6 - Loans - Non-accrual Lo

Note 6 - Loans - Non-accrual Loans (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Nonaccrual loans	$ 4,628,796
Commercial Real Estate Portfolio Segment [Member]
Nonaccrual loans	4,407,829
Residential Portfolio Segment [Member]
Nonaccrual loans	$ 220,967

Note 6 - Loans - Past Due Loans

Note 6 - Loans - Past Due Loans (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Loans, past due	$ 428,214	$ 284,686
Loans, current	525,482,833	362,210,017
Loans	525,911,047	362,494,703
Loans, 90 days past due and still accruing
Financial Asset, 30 to 59 Days Past Due [Member]
Loans, past due	207,247	284,686
Financial Asset, 60 to 89 Days Past Due [Member]
Loans, past due
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans, past due	220,967
Commercial Real Estate Portfolio Segment [Member]
Loans, past due	182,656	224,794
Loans, current	274,318,671	240,713,355
Loans	274,501,327	240,938,149
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	182,656	224,794
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
Construction and Land Development [Member]
Loans, past due
Loans, current	33,641,916	18,194,955
Loans	33,641,916	18,194,955
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	245,558	59,892
Loans, current	155,865,687	76,062,177
Loans	156,111,245	76,122,069
Loans, 90 days past due and still accruing
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Loans, past due	24,591	59,892
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	220,967
Commercial Portfolio Segment [Member]
Loans, past due
Loans, current	61,368,105	26,947,503
Loans	61,368,105	26,947,503
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
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	288,454	292,027
Loans	288,454	292,027
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 6 - Loans - Impaired Loans

Note 6 - Loans - Impaired Loans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Unpaid Contractual Principal Balance	$ 10,087,137	$ 2,135,045
Recorded Investment With No Allowance	6,875,374	2,135,045
Recorded Investment With Allowance	2,313,161
Total Recorded Investment	9,188,535	2,135,045
Related Allowance
Average Recorded Investment	5,661,790	2,656,214
Interest Recognized	386,114	109,750
Commercial Real Estate Portfolio Segment [Member]
Unpaid Contractual Principal Balance	7,246,478	2,084,988
Recorded Investment With No Allowance	6,660,145	2,084,988
Recorded Investment With Allowance	151,553
Total Recorded Investment	6,811,698	2,084,988
Related Allowance
Average Recorded Investment	4,448,343	2,631,185
Interest Recognized	352,938	106,874
Construction and Land Development [Member]
Unpaid Contractual Principal Balance	1,719,010
Recorded Investment With No Allowance
Recorded Investment With Allowance	1,566,174
Total Recorded Investment	1,566,174
Related Allowance
Average Recorded Investment	783,087
Interest Recognized	22,520
Residential Portfolio Segment [Member]
Unpaid Contractual Principal Balance	1,121,649	50,057
Recorded Investment With No Allowance	215,229	50,057
Recorded Investment With Allowance	595,434
Total Recorded Investment	810,663	50,057
Related Allowance
Average Recorded Investment	430,360	25,029
Interest Recognized	$ 10,656	$ 2,876

Note 6 - Loans - Loans by Credi

Note 6 - Loans - Loans by Credit Grade (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Loans	$ 525,911,047	$ 362,494,703
Excellent [Member]
Loans	32,138,072	195,992
Above Average [Member]
Loans	3,147,251	4,739,112
Average [Member]
Loans	173,120,387	138,554,014
Acceptable [Member]
Loans	158,290,924	165,978,092
Pass [Member]
Loans	139,519,909	41,608,876
Special Mention [Member]
Loans	5,951,177
Substandard [Member]
Loans	13,732,062	11,399,425
Doubtful [Member]
Loans	11,265	19,192
Commercial Real Estate Portfolio Segment [Member]
Loans	274,501,327	240,938,149
Commercial Real Estate Portfolio Segment [Member] | Excellent [Member]
Loans
Commercial Real Estate Portfolio Segment [Member] | Above Average [Member]
Loans	2,010,472	2,769,944
Commercial Real Estate Portfolio Segment [Member] | Average [Member]
Loans	80,782,360	91,274,940
Commercial Real Estate Portfolio Segment [Member] | Acceptable [Member]
Loans	83,504,722	110,566,629
Commercial Real Estate Portfolio Segment [Member] | Pass [Member]
Loans	93,013,211	27,438,005
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member]
Loans	5,951,177
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member]
Loans	9,239,385	8,888,631
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member]
Loans
Construction and Land Development [Member]
Loans	33,641,916	18,194,955
Construction and Land Development [Member] | Excellent [Member]
Loans
Construction and Land Development [Member] | Above Average [Member]
Loans		216,000
Construction and Land Development [Member] | Average [Member]
Loans	2,962,300	4,737,737
Construction and Land Development [Member] | Acceptable [Member]
Loans	15,944,499	8,572,151
Construction and Land Development [Member] | Pass [Member]
Loans	13,168,844	4,669,067
Construction and Land Development [Member] | Special Mention [Member]
Loans
Construction and Land Development [Member] | Substandard [Member]
Loans	1,566,273
Construction and Land Development [Member] | Doubtful [Member]
Loans
Residential Portfolio Segment [Member]
Loans	156,111,245	76,122,069
Residential Portfolio Segment [Member] | Excellent [Member]
Loans	36,285	39,817
Residential Portfolio Segment [Member] | Above Average [Member]
Loans	1,026,824	1,633,783
Residential Portfolio Segment [Member] | Average [Member]
Loans	79,207,040	30,767,418
Residential Portfolio Segment [Member] | Acceptable [Member]
Loans	45,302,862	34,784,120
Residential Portfolio Segment [Member] | Pass [Member]
Loans	27,611,830	6,386,377
Residential Portfolio Segment [Member] | Special Mention [Member]
Loans
Residential Portfolio Segment [Member] | Substandard [Member]
Loans	2,926,404	2,510,554
Residential Portfolio Segment [Member] | Doubtful [Member]
Loans
Commercial Portfolio Segment [Member]
Loans	61,368,105	26,947,503
Commercial Portfolio Segment [Member] | Excellent [Member]
Loans	32,088,058	153,848
Commercial Portfolio Segment [Member] | Above Average [Member]
Loans		20,000
Commercial Portfolio Segment [Member] | Average [Member]
Loans	10,037,516	11,682,299
Commercial Portfolio Segment [Member] | Acceptable [Member]
Loans	13,532,170	11,995,143
Commercial Portfolio Segment [Member] | Pass [Member]
Loans	5,710,361	3,096,213
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	288,454	292,027
Consumer Portfolio Segment [Member] | Excellent [Member]
Loans	13,729	2,327
Consumer Portfolio Segment [Member] | Above Average [Member]
Loans	109,955	99,385
Consumer Portfolio Segment [Member] | Average [Member]
Loans	131,171	91,620
Consumer Portfolio Segment [Member] | Acceptable [Member]
Loans	6,671	60,049
Consumer Portfolio Segment [Member] | Pass [Member]
Loans	15,663	19,214
Consumer Portfolio Segment [Member] | Special Mention [Member]
Loans
Consumer Portfolio Segment [Member] | Substandard [Member]
Loans		240
Consumer Portfolio Segment [Member] | Doubtful [Member]
Loans	$ 11,265	$ 19,192

Note 6 - Loans - Allowance for

Note 6 - Loans - Allowance for Loan Losses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Beginning balance	$ 2,593,715	$ 2,509,334
Provision for loan losses	625,000	40,000
Charge offs
Recoveries	77,823	44,381
Ending balance	3,296,538	2,593,715
Allowance for loan losses, individually
Allowance for loan losses, collectively	3,296,538	2,593,715
Outstanding loan, individually	9,188,535	2,135,045
Outstanding loan, collectively	516,722,512	360,359,658
Commercial Real Estate Portfolio Segment [Member]
Beginning balance	1,763,861	1,754,372
Provision for loan losses	418,806	(11,700)
Charge offs
Recoveries	47,462	21,189
Ending balance	2,230,129	1,763,861
Allowance for loan losses, individually
Allowance for loan losses, collectively	2,230,129	1,763,861
Outstanding loan, individually	6,811,698	2,084,988
Outstanding loan, collectively	267,689,629	238,853,161
Construction and Land Development [Member]
Beginning balance	192,828	196,374
Provision for loan losses	(5,536)	(17,571)
Charge offs
Recoveries	14,400	14,025
Ending balance	201,692	192,828
Allowance for loan losses, individually
Allowance for loan losses, collectively	201,692	192,828
Outstanding loan, individually	1,566,174
Outstanding loan, collectively	32,075,742	18,194,955
Residential Portfolio Segment [Member]
Beginning balance	478,124	401,626
Provision for loan losses	166,515	76,498
Charge offs
Recoveries
Ending balance	644,639	478,124
Allowance for loan losses, individually
Allowance for loan losses, collectively	644,639	478,124
Outstanding loan, individually	810,663	50,057
Outstanding loan, collectively	155,300,582	76,072,012
Commercial Portfolio Segment [Member]
Beginning balance	107,782	102,610
Provision for loan losses	(12,353)	(3,995)
Charge offs
Recoveries	15,961	9,167
Ending balance	111,390	107,782
Allowance for loan losses, individually
Allowance for loan losses, collectively	111,390	107,782
Outstanding loan, individually
Outstanding loan, collectively	61,368,105	26,947,503
Consumer Portfolio Segment [Member]
Beginning balance	4,133	10,428
Provision for loan losses	(1,995)	(6,295)
Charge offs
Recoveries
Ending balance	2,138	4,133
Allowance for loan losses, individually
Allowance for loan losses, collectively	2,138	4,133
Outstanding loan, individually
Outstanding loan, collectively	288,454	292,027
Unallocated Financing Receivables [Member]
Beginning balance	46,987	43,924
Provision for loan losses	59,563	3,063
Charge offs
Recoveries
Ending balance	106,550	46,987
Allowance for loan losses, individually
Allowance for loan losses, collectively	106,550	46,987
Outstanding loan, individually
Outstanding loan, collectively

Note 6 - Loans - Activity for A

Note 6 - Loans - Activity for Accretable Yield of Purchased Loans (Details)	12 Months Ended
	Dec. 31, 2020USD ($)
Balance at beginning of the year
Acquired during the year	2,478,000
Accretion	227,768
Adjustments
Balance at end of year	$ 2,250,232

Note 7 - Premises and Equipme_3

Note 7 - Premises and Equipment (Details Textual) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment, Net, Ending Balance		$ 7,736,556	$ 5,036,851
Amortization of Intangible Assets, Total		44,135	49,151
Other Assets [Member]
Intangible Assets, Net (Excluding Goodwill), Total		155,122	$ 47,802
Real Property Acquired from Carroll in Merger [Member]
Property, Plant and Equipment, Net, Ending Balance		$ 1,322,000
Real Property Acquired from Carroll in Merger [Member] | Forecast [Member]
Proceeds from Sale of Property, Plant, and Equipment, Total	$ 1,370,000

Note 7 - Premises and Equipme_4

Note 7 - Premises and Equipment - Premises and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment, Gross	$ 14,737,059	$ 11,665,708
Accumulated depreciation and amortization	7,000,503	6,628,857
Property, Plant and Equipment, Net	7,736,556	5,036,851
Depreciation and amortization expense	371,646	295,020
Land and Land Improvements [Member]
Property, Plant and Equipment, Gross	3,237,998	1,952,998
Building and Building Improvements [Member]
Property, Plant and Equipment, Gross	$ 6,989,622	5,659,635
Building and Building Improvements [Member] | Minimum [Member]
Property, Plant and Equipment, Estimated Useful Lives (Year)	15 years
Building and Building Improvements [Member] | Maximum [Member]
Property, Plant and Equipment, Estimated Useful Lives (Year)	39 years
Furniture and Fixtures [Member]
Property, Plant and Equipment, Gross	$ 4,509,439	$ 4,053,075
Furniture and Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment, Estimated Useful Lives (Year)	3 years
Furniture and Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment, Estimated Useful Lives (Year)	10 years

Note 8 - Goodwill and Other I_3

Note 8 - Goodwill and Other Intangibles (Details Textual) - Core Deposits [Member]	12 Months Ended
	Dec. 31, 2020USD ($)
Finite-Lived Intangible Asset, Useful Life (Year)	10 years
Finite-Lived Intangible Asset, Expected Amortization, Year One	$ 8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Two	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Three	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Four	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Five	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Six	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Seven	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Eight	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Nine	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Ten	$ 6,246

Note 8 - Goodwill and Other I_4

Note 8 - Goodwill and Other Intangibles - Changes in Goodwill and Other Intangibles (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Balance, goodwill
Balance at beginning of the year
Acquired during the year, goodwill	6,978,208
Acquired during the year	7,061,490
Amortization, other intangible	(44,135)	$ (49,151)
Amortization	(2,082)
Balance, goodwill	6,978,208
Balance at end of year	7,059,408
Core Deposits [Member]
Balance, other intangible
Acquired during the year, other intangible	83,282
Amortization, other intangible	(2,082)
Balance, other intangible	$ 81,200

Note 9 - Commitments and Cont_3

Note 9 - Commitments and Contingencies (Details Textual)	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Jun. 30, 2020	May 31, 2018	Jan. 31, 2018	Sep. 30, 2009
Operating Lease, Cost	$ 195,106	$ 195,039
Operating Lease, Weighted Average Remaining Lease Term (Year)	8 years 186 days
Operating Lease, Weighted Average Discount Rate, Percent		3.25%
Operating Lease, Payments	$ 161,046	$ 154,127
First Community Bankers Insurance Co., LLC [Member]
Liability for Claims and Claims Adjustment Expense, Ending Balance	$ 315,419	$ 191,951
Operating Lease for Hampstead Branch [Member]
Lessee, Operating Lease, Number of Renewal Terms						3
Lessee, Operating Lease, Renewal Term (Year)	5 years
Operating Lease for Certain Facilities of Greenmount Branch [Member]
Lessee, Operating Lease, Renewal Term (Year)					5 years
Lessee, Operating Lease, Term of Contract (Year)					5 years
Operating Lease for the Corporate Headquarters [Member]
Lessee, Operating Lease, Number of Renewal Terms			3
Lessee, Operating Lease, Renewal Term (Year)			5 years
Lease for Carroll Lutheran Village Branch [Member]
Lessee, Operating Lease, Renewal Term (Year)				5 years
Lessee, Operating Lease, Term of Contract (Year)				5 years
Lessee, Operating Lease, Additional Renewal Term Number				2

Note 9 - Commitments and Cont_4

Note 9 - Commitments and Contingencies - Operating Lease Assets and Liabilities (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Other Assets [Member]
Operating Lease, Right-of-Use Asset	$ 1,242,832	$ 1,392,281
Other Liabilities [Member]
Operating Lease, Liability, Total	$ 1,443,966	$ 1,559,356

Note 9 - Commitment and Conting

Note 9 - Commitment and Contingencies - Operating Lease Liabilities (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
2021	$ 210,956
2022	221,497
2023	228,531
2024	234,910
2025	241,483
Thereafter	899,195
Total lease payments	2,036,572
Less imputed interest	(592,606)
Other Liabilities [Member]
Operating Lease, Liability, Total	$ 1,443,966	$ 1,559,356

Note 9 - Commitment and Conti_2

Note 9 - Commitment and Contingencies - Outstanding Loan Commitments, Unused Lines of Credit, and Letters of Credit (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Letter of Credit [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	$ 1,891,428	$ 1,935,613
Loan Origination Commitments [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	26,109,020	13,755,488
Unused lines of Credit [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	37,713,573	25,929,499
Unused lines of Credit [Member] | Home Equity Loan [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	13,716,894	3,700,404
Unused lines of Credit [Member] | Commercial Lines [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	23,996,679	22,229,095
Construction and Land Development [Member] | Loan Origination Commitments [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	4,668,250	1,322,275
Commercial Portfolio Segment [Member] | Loan Origination Commitments [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	1,000,000	4,102,000
Commercial Real Estate Portfolio Segment [Member] | Loan Origination Commitments [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	15,772,020	7,560,714
Residential Portfolio Segment [Member] | Loan Origination Commitments [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	$ 4,668,750	$ 770,499

Note 10 - Retirement Plans (Det

Note 10 - Retirement Plans (Details Textual)	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Number of Employees Covered by Life Insurance Policy		12
Other Postretirement Benefits Cost (Reversal of Cost)	$ 6,356	$ 5,873
Employee Benefits and Share-based Compensation	$ 1,658,651	1,352,202
Supplemental Employee Retirement Plan [Member]
Number of Employees Participating in Plan	3
Employee Benefits and Share-based Compensation	$ 207,858	145,964
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	$ 237,612	$ 193,109

Note 11 - Interest-bearing De_3

Note 11 - Interest-bearing Deposits - Classification of Interest-Bearing Deposits (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
NOW	$ 107,763,512	$ 63,299,218
Money market	83,740,032	54,323,501
Savings	80,890,934	47,572,517
Certificates of deposit, $250,000 or more	38,700,152	33,251,181
Other time deposits	159,151,804	117,507,882
Interest-bearing Deposit Liabilities	$ 470,246,434	$ 315,954,299

Note 11 - Interest-bearing De_4

Note 11 - Interest-bearing Deposits - Certificates of Deposit Maturity Schedule (Details)	Dec. 31, 2020USD ($)
2021	$ 133,669,557
2022	38,374,714
2023	21,959,383
2024	2,152,623
2025	1,695,679
Time Deposits	$ 197,851,956

Note 12 - Borrowed Funds (Detai

Note 12 - Borrowed Funds (Details Textual) - USD ($)	Sep. 30, 2020	Sep. 30, 2021	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2025
Proceeds from Issuance of Long-term Debt, Total			$ 16,971,874
Unsecured Line of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity			14,500,000
Secured Line of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity			9,000,000
Federal Home Loan Bank Advances [Member]
Line of Credit Facility, Maximum Borrowing Capacity			89,300,000
Federal Reserve Bank Advances [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 33,200,000
Loan to Fund Merger Consideration [Member]
Debt Instrument, Face Amount	$ 17,000,000
Payments of Debt Issuance Costs	28,126
Proceeds from Issuance of Long-term Debt, Total	$ 16,971,874
Debt Instrument, Interest Rate, Stated Percentage	4.10%		4.10%
Long-Term Debt, Maturity, Year Five			$ 9,916,667
Loan to Fund Merger Consideration [Member] | Forecast [Member]
Debt Instrument, Periodic Payment, Interest		$ 174,250
Debt Instrument, Periodic Payment, Total					$ 646,472

Note 12 - Borrowed Funds - Outs

Note 12 - Borrowed Funds - Outstanding Advances (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2020
Securities sold under repurchase agreements	$ 24,753,972	$ 10,958,118
Amount	5,000,000
Amount	$ 16,973,280
Federal Home Loan Bank advances	1.00%	0.00%
Federal Home Loan Bank advances	$ 10,000,000	$ 6,500,000
Federal Home Loan Bank, Advances, Activity for Year, Average Balance of Agreements Outstanding	$ 4,877,052	$ 2,610,959
Average rate, federal Home Loan Bank advances	0.84%	1.62%
Investment securities underlying the repurchase agreements at year end: Carrying value	$ 34,958,212	$ 11,441,474
Investment securities underlying the repurchase agreements at year end: Estimated fair value	35,880,915	11,859,595
Loans pledged to the Federal Home Loan Bank at year-end: Carrying value - loans	115,282,801	80,432,808
Loans pledged to the Federal Reserve Bank at year-end: Carrying value	$ 76,027,628	$ 46,086,041
Securities Sold under Agreements to Repurchase [Member]
Securities sold under repurchase agreements	0.61%	1.49%
Securities sold under repurchase agreements	$ 24,753,972	$ 10,958,118
Short-term Debt, Average Outstanding Amount	$ 9,355,593	$ 9,273,092
Average rate, securities sold under repurchase agreements	1.15%	1.24%
Borrowings from FRB and Commercial Banks [Member]
Short-term Debt, Average Outstanding Amount		$ 90,966
Average rate, securities sold under repurchase agreements	0.00%	2.91%
Federal Home Loan Bank Advances at 1.00% Due in 2025 [Member]
Maturity date	Mar. 30, 2025
Interest Rate	1.00%
Amount	$ 5,000,000
Loan to Fund Merger Consideration [Member]
Maturity date	Sep. 30, 2025
Interest Rate	4.10%		4.10%
Amount	$ 16,973,280
Long-term debt	4.10%	0.00%
Long-term debt (net of isuuance costs), Average Outstanding Amount	$ 4,425,976
Average rate, long-term debt	4.10%	0.00%

Note 13 - Other Noninterest E_3

Note 13 - Other Noninterest Expenses - Summary of Other Noninterest Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Professional services	$ 424,813	$ 448,704
Automated teller machine and debit card expenses	278,989	254,792
Advertising	237,909	292,301
Telephone	224,805	204,486
Stationery, printing, and supplies	208,510	181,823
Directors fees	203,335	212,161
Federal Deposit Insurance Corporation premiums	201,714	30,571
Insurance claims	200,000	178,500
Internet banking fees	185,815	152,750
Postage, delivery, and armored carrier	145,544	154,583
Correspondent bank services	135,621	128,622
Liability insurance	54,251	49,447
Other taxes	52,544
Maryland state regulatory assessment	51,310	48,794
Dues and subscriptions	48,517	41,261
Credit reports	42,592	29,825
Remote deposit expenses	37,298	31,278
Other real estate owned	34,861	13,408
Travel and conferences	27,141	52,152
Payroll processing	25,830	21,406
Other	129,244	137,679
Other Noninterest Expense	$ 2,950,643	$ 2,664,543

Note 14 - Income Taxes (Details

Note 14 - Income Taxes (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
Income Tax Examination, Penalties and Interest Expense, Total	$ 2.6
Open Tax Year	2016 2017 2018 2019 2020

Note 14 - Income Taxes - Compon

Note 14 - Income Taxes - Components of Income Tax Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Federal	$ 387,193	$ 756,984
State	251,349	336,191
Current Income Tax Expense (Benefit), Total	638,542	1,093,175
Deferred	151,331	(53,841)
Income Tax Expense (Benefit), Total	$ 487,211	$ 1,039,334

Note 14 - Income Taxes - Comp_2

Note 14 - Income Taxes - Components of Deferred Tax Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Depreciation	$ 18,006	$ 10,501
Provision for loan losses	171,984	(11,007)
Other real estate owned allowance for loss		(57,828)
Nonaccrual interest	2,752	31,691
Prepaid captive insurance premium	(76,855)	21,373
Write-down of equity securities	(2,893)	9,767
Capitol loss carryover		(5,300)
Lease liability, net of right of use asset	9,372	(11,258)
Purchase accounting adjustments	(29,982)
Post-retirement benefits	58,947	(41,780)
Deferred Income Tax Expense (Benefit), Total	$ 151,331	$ (53,841)

Note 14 - Income Taxes - Comp_3

Note 14 - Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Allowance for loan losses	$ 809,860	$ 637,848
Other real estate owned allowance for loss	388,066	286,182
Write-down of equity securities		2,864
Capital loss carryover	5,300	5,300
Nonaccrual interest	4,620
Post-retirement benefits	603,390	544,442
Purchase accounting adjustments	392,341
Lease liability, net of right of use asset	55,347	45,975
Deferred Tax Assets, Net of Valuation Allowance, Total	2,258,924	1,522,611
Deferred tax liabilities
Prepaid captive insurance premium	371,894	295,039
Write-down of equity securities	15,606
Unrealized gain on securities available for sale	328,986	16,182
Depreciation	322,770	175,312
Deferred Tax Liabilities, Total	1,039,256	486,533
Net deferred tax asset	$ 1,219,668	$ 1,036,078

Note 14 - Income Taxes - Reconc

Note 14 - Income Taxes - Reconciliation of Effective Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Statutory federal income tax rate	21.00%	21.00%
Federal tax-exempt income	(12.30%)	(7.00%)
State income taxes, net of federal income tax benefit	4.50%	4.40%
Nondeductible expenses	2.20%	0.10%
Other		0.10%
Effective Income Tax Rate Reconciliation, Percent, Total	15.40%	18.60%

Note 15 - Capital Standards (De

Note 15 - Capital Standards (Details Textual)	Dec. 31, 2020	Dec. 31, 2019
Banking Regulation, Common Equity Tier One Risk-Based Capital Ratio, Well Capitalized, Minimum	0.065	0.065
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets	0.08	0.08
Capital Required to be Well Capitalized to Risk Weighted Assets	0.1	0.1
Tier One Leverage Capital Required to be Well Capitalized to Average Assets	0.05	0.05

Note 15 - Capital Standards - C

Note 15 - Capital Standards - Capital Requirements (Details) $ in Thousands	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Capital	$ 63,400	$ 51,274
Capital to Risk Weighted Assets	0.1262	0.1388
Capital Required for Capital Adequacy	$ 52,732	$ 38,775
Capital Required for Capital Adequacy to Risk Weighted Assets	0.105	0.105
Capital Required to be Well Capitalized	$ 50,221	$ 36,928
Capital Required to be Well Capitalized to Risk Weighted Assets	0.1	0.1
Tier One Risk Based Capital	$ 60,104	$ 48,681
Tier One Risk Based Capital to Risk Weighted Assets	0.1197	0.1318
Tier One Risk Based Capital Required for Capital Adequacy	$ 42,688	$ 31,389
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets	0.085	0.085
Tier One Risk Based Capital Required to be Well Capitalized	$ 40,177	$ 29,543
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets	0.08	0.08
Common Equity Tier One Capital	$ 60,104	$ 48,681
Common Equity Tier One Capital Ratio	0.1197	0.1318
Common Equity Tier One Capital Required for Capital Adequacy	$ 35,155	$ 25,850
Common Equity Tier One Capital Required for Capital Adequacy Ratio	0.07	0.07
Common Equity Tier One Capital Required to be Well-Capitalized	$ 32,644	$ 24,003
Common Equity Tier One Capital Required to be Well Capitalized Ratio	0.065	0.065
Tier One Leverage Capital	$ 60,104	$ 48,681
Tier One Leverage Capital to Average Assets	0.0905	0.1094
Tier One Leverage Capital Required for Capital Adequacy	$ 26,569	$ 17,798
Tier One Leverage Capital Required for Capital Adequacy to Average Assets	0.04	0.04
Tier One Leverage Capital Required to be Well Capitalized	$ 33,211	$ 22,247
Tier One Leverage Capital Required to be Well Capitalized to Average Assets	0.05	0.05

Note 16 - Fair Value (Details T

Note 16 - Fair Value (Details Textual)	12 Months Ended
	Dec. 31, 2020
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 16 - Fair Value - Summariz

Note 16 - Fair Value - Summarizes Financial Assets Measured at Fair Value (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Fair value, available for sale	$ 54,477,286	$ 36,531,774
Equity security at fair value	552,566	532,321
Fair Value, Recurring [Member]
Fair value, available for sale	54,477,286	36,531,774
Equity security at fair value	552,566	532,321
Fair Value, Nonrecurring [Member]
Other real estate owned	1,411,605
Impaired loans	9,188,535	2,135,045
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale
Equity security at fair value	552,566	532,321
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member]
Other real estate owned
Impaired loans
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	54,477,286	36,531,774
Equity security at fair value
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member]
Other real estate owned
Impaired loans
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale
Equity security at fair value
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member]
Other real estate owned	1,411,605
Impaired loans	9,188,535	2,135,045
US States and Political Subdivisions Debt Securities [Member]
Fair value, available for sale	986,532	512,670
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	986,532	512,670
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	986,532	512,670
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	1,783,807	2,151,797
SBA Pools [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	1,783,807	2,151,797
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	1,783,807	2,151,797
SBA Pools [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale
Corporate Debt Securities [Member]
Fair value, available for sale	6,797,431
Corporate Debt Securities [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	6,797,431
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	6,797,431
Corporate Debt Securities [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	44,909,516	33,867,307
Collateralized Mortgage Backed Securities [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	44,909,516	33,867,307
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	44,909,516	33,867,307
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale

Note 16 - Fair Value - Reconcil

Note 16 - Fair Value - Reconciliation of Level 3 Inputs (Details)	12 Months Ended
	Dec. 31, 2020USD ($)
Other Real Estate Owned [Member]
Fair value beginning balance
Additions	1,411,605
Advances
Write-downs/charge-offs
Fair Value Recoveries
Loan loss provision
Yield premium accretion
Principal payments received
Fair value ending balance	1,411,605
Impaired Loans [Member]
Fair value beginning balance	2,135,045
Additions	7,141,460
Advances	26,499
Write-downs/charge-offs
Fair Value Recoveries
Loan loss provision
Yield premium accretion	(4,139)
Principal payments received	(110,330)
Fair value ending balance	$ 9,188,535

Note 16 - Fair Value - Estimate

Note 16 - Fair Value - Estimated Fair Value of Financial Instruments (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Fair value, held to maturity	$ 24,244,786	$ 20,097,931
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value, held to maturity	23,078,519	19,510,018
Mortgage loans held for sale	1,673,350	242,000
Restricted stock, at cost	900,500	376,200
Interest-bearing deposits	470,246,434	315,954,299
Federal Home Loan Bank advances	5,000,000
Long-term debt	16,973,280
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Loans, net	521,690,514	359,382,843
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Noninterest-bearing deposits	103,155,113	60,659,015
Securities sold under repurchase agreements	24,753,972	10,958,118
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Fair value, held to maturity	24,244,786	20,097,931
Mortgage loans held for sale	1,705,781	245,857
Restricted stock, at cost	900,500	376,200
Interest-bearing deposits	474,096,434	313,622,299
Federal Home Loan Bank advances	5,136,000
Long-term debt	17,018,416
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Loans, net	527,132,047	359,346,031
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Noninterest-bearing deposits	103,155,113	60,659,015
Securities sold under repurchase agreements	$ 24,753,972	$ 10,958,118

Note 17 - Parent Company Fina_3

Note 17 - Parent Company Financial Information - Balance Sheets (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other assets	$ 2,336,607	$ 2,180,644
Assets	677,317,082	442,215,098
Amount	16,973,280
Accrued interest payable	409,622	346,214
Liabilities, Total	625,587,599	392,761,582
Common stock, par value $.01 per share, authorized 5,000,000 shares; issued and outstanding 3,011,255 shares in 2020 and 2,974,019 shares in 2019	30,113	29,740
Additional paid-in capital	28,294,139	27,812,991
Retained earnings	22,698,954	21,568,161
Accumulated other comprehensive income	706,277	42,624
Stockholders' Equity Attributable to Parent, Ending Balance	51,729,483	49,453,516	$ 45,394,707
Liabilities and Equity, Total	677,317,082	442,215,098
Parent Company [Member]
Cash and cash equivalents	200,925	64,152
Investment in subsidiaries	68,645,516	49,389,364
Other assets	36,380
Assets	68,882,821	49,453,516
Amount	16,973,280
Accrued interest payable	180,058
Liabilities, Total	17,153,338
Common stock, par value $.01 per share, authorized 5,000,000 shares; issued and outstanding 3,011,255 shares in 2020 and 2,974,019 shares in 2019	30,113	29,740
Additional paid-in capital	28,294,139	27,812,991
Retained earnings	22,698,954	21,568,161
Accumulated other comprehensive income	706,277	42,624
Stockholders' Equity Attributable to Parent, Ending Balance	51,729,483	49,453,516
Liabilities and Equity, Total	$ 68,882,821	$ 49,453,516

Note 17 - Parent Company Fina_4

Note 17 - Parent Company Financial Information - Balance Sheets (Details) (Parentheticals) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01	$ 0.01
Common Stock, Shares Authorized (in shares)	5,000,000	5,000,000
Common Stock, Shares, Issued (in shares)	3,011,255	2,974,019
Common Stock, Shares, Outstanding (in shares)	3,011,255	2,974,019
Parent Company [Member]
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01	$ 0.01
Common Stock, Shares Authorized (in shares)	5,000,000	5,000,000
Common Stock, Shares, Issued (in shares)	3,011,255	2,974,019
Common Stock, Shares, Outstanding (in shares)	3,011,255	2,974,019

Note 17 - Parent Company Fina_5

Note 17 - Parent Company Financial Information - Statements of Income (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Interest income	$ 6,475,562	$ 4,822,354	$ 4,755,228	$ 4,710,036	$ 4,776,334	$ 4,719,012	$ 4,659,456	$ 4,547,536	$ 20,763,180	$ 18,702,338
Noninterest expense									15,582,408	10,875,814
Income before income taxes and equity in undistributed income of subsidiaries									3,169,214	5,600,138
Income taxes (benefit)									487,211	1,039,334
Net income	$ 417,394	$ 385,247	$ 1,036,055	$ 843,307	$ 1,060,786	$ 1,177,910	$ 1,225,821	$ 1,096,287	2,682,003	4,560,804
Parent Company [Member]
Cash dividends from subsidiaries									9,452,045	1,331,917
Interest income									9,452,045	1,331,917
Interest expense - long-term debt									(181,465)
Noninterest expense									521	537
Income before income taxes and equity in undistributed income of subsidiaries									9,270,059	1,331,380
Income taxes (benefit)									(37,812)
Income before before equity in undistributed income of subsidiaries									9,307,871	1,331,380
Dividends in excess of income of bank subsidiary									(6,759,815)
Equity in undistributed income of insurance subsidiary									133,947	3,229,424
Net income									$ 2,682,003	$ 4,560,804

Note 17 - Parent Company Fina_6

Note 17 - Parent Company Financial Information - Statements of Cash Flows (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Net income	$ 417,394	$ 385,247	$ 1,036,055	$ 843,307	$ 1,060,786	$ 1,177,910	$ 1,225,821	$ 1,096,287	$ 2,682,003	$ 4,560,804
Accrued interest payable									63,408	34,725
Amortization of debt issuance costs									1,406
Cash provided by operating activities									4,452,270	5,715,516
Acquisition of Carroll Bancorp, Inc. net of cash acquired									(19,366,118)
Cash used by investing activities									(45,700,983)	(29,037,359)
Proceeds from Issuance of Long-term Debt, Total									16,971,874
Dividends paid, net of reinvestments									(1,069,689)	(1,021,471)
Cash provided by financing activities									73,103,031	17,824,958
Net increase (decrease) in cash and cash equivalents									31,854,318	(5,496,885)
Cash and cash equivalents at beginning of period				9,121,352				14,618,237	9,121,352	14,618,237
Cash and cash equivalents at end of period	40,975,670				9,121,352				40,975,670	9,121,352
Parent Company [Member]
Net income									2,682,003	4,560,804
Equity in undistributed income of insurance subsidiary									(133,947)	(3,229,424)
Accrued interest payable									180,058
Amortization of debt issuance costs									1,406
Income tax receivable									(37,812)
Dividend received in excess of income of bank subsidiary									6,759,815
Cash provided by operating activities									9,451,523	1,331,380
Contribution of capital to subsidiaries									(690,000)	(310,000)
Acquisition of Carroll Bancorp, Inc. net of cash acquired									(24,526,935)
Cash used by investing activities									(25,216,935)	(310,000)
Proceeds from Issuance of Long-term Debt, Total									16,971,874
Dividends paid, net of reinvestments									(1,069,689)	(1,021,471)
Cash provided by financing activities									15,902,185	(1,021,471)
Net increase (decrease) in cash and cash equivalents									136,773	(91)
Cash and cash equivalents at beginning of period				$ 64,152				$ 64,243	64,152	64,243
Cash and cash equivalents at end of period	$ 200,925				$ 64,152				$ 200,925	$ 64,152

Note 18 - Quarterly Results o_3

Note 18 - Quarterly Results of Operations - Summary of Quarterly Results (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Interest income	$ 6,475,562	$ 4,822,354	$ 4,755,228	$ 4,710,036	$ 4,776,334	$ 4,719,012	$ 4,659,456	$ 4,547,536	$ 20,763,180	$ 18,702,338
Interest expense	907,745	721,605	884,825	944,502	977,295	956,411	924,864	821,383	3,458,677	3,679,953
Net interest income	5,567,817	4,100,749	3,870,403	3,765,534	3,799,039	3,762,601	3,734,592	3,726,153	17,304,503	15,022,385
Provision for loan losses	150,000		350,000	125,000	40,000	(13,000)		13,000	625,000	40,000
Net income	$ 417,394	$ 385,247	$ 1,036,055	$ 843,307	$ 1,060,786	$ 1,177,910	$ 1,225,821	$ 1,096,287	$ 2,682,003	$ 4,560,804
Earnings per share - basic and diluted (in dollars per share)	$ 0.14	$ 0.13	$ 0.35	$ 0.28	$ 0.36	$ 0.40	$ 0.42	$ 0.37	$ 0.90	$ 1.54