Farmers and Merchants Bancshares (FMFG) 10-Q 16 Aug 21 2021 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Aug. 06, 2021
Document Information [Line Items]
Entity Central Index Key	0001698022
Entity Registrant Name	Farmers & Merchants Bancshares, Inc.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	000-55756
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	81-3605835
Entity Address, Address Line One	4510 Lower Beckleysville Road, Suite H
Entity Address, City or Town	Hampstead
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	21074
City Area Code	410
Local Phone Number	374-1510
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		3,023,487

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Assets
Cash and due from banks	$ 31,687,027	$ 39,898,557
Federal funds sold and other interest-bearing deposits	769,123	1,077,113
Cash and cash equivalents	32,456,150	40,975,670
Certificates of deposit in other banks	350,000	850,000
Securities available for sale, at fair value	98,251,607	54,477,286
Securities held to maturity, at cost	21,401,599	23,078,519
Equity security at fair value	547,914	552,566
Restricted stock, at cost	675,169	900,500
Mortgage loans held for sale	1,317,820	1,673,350
Loans, less allowance for loan losses of $3,404,168 and $3,296,538	517,356,334	521,690,514
Premises and equipment, net	6,304,771	7,736,556
Accrued interest receivable	1,777,967	2,057,491
Deferred income taxes, net	1,521,861	1,219,668
Other real estate owned	1,411,605	1,411,605
Bank owned life insurance	15,150,383	11,297,342
Goodwill and other intangibles	7,055,274	7,059,408
Other assets	1,908,201	2,336,607
Assets, Total	707,486,655	677,317,082
Deposits:
Noninterest-bearing	126,712,827	103,155,113
Interest-bearing	485,417,230	470,246,434
Total deposits	612,130,057	573,401,547
Securities sold under repurchase agreements	13,686,564	24,753,972
Federal Home Loan Bank of Atlanta advances	5,000,000	5,000,000
Long-term debt, net of issuance costs	16,976,093	16,973,280
Accrued interest payable	154,780	409,622
Other liabilities	5,123,819	5,049,178
Liabilities, Total	653,071,313	625,587,599
Stockholders' equity:
Common stock, par value $.01 per share, authorized 5,000,000 shares; issued and outstanding 3,023,487 in 2021 and 3,011,255 in 2020	30,235	30,113
Additional paid-in capital	28,557,249	28,294,139
Retained earnings	25,917,571	22,698,954
Accumulated other comprehensive (loss) income	(89,713)	706,277
Stockholders' Equity Attributable to Parent, Ending Balance	54,415,342	51,729,483
Liabilities and Equity, Total	$ 707,486,655	$ 677,317,082

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Allowance for loan losses	$ 3,404,168	$ 3,296,538
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)	3,023,487	3,011,255
Common stock, share outstanding (in shares)	3,023,487	3,011,255

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Interest income:
Loans, including fees	$ 5,783,660	$ 4,393,267	$ 11,768,317	$ 8,715,921
Investment securities - taxable	329,731	191,255	540,955	401,761
Investment securities - tax exempt	152,412	154,699	312,986	298,783
Federal funds sold and other interest earning assets	15,308	16,007	29,445	48,799
Total interest income	6,281,111	4,755,228	12,651,703	9,465,264
Interest expense:
Deposits	533,437	832,464	1,128,957	1,738,663
Securities sold under repurchase agreements	14,972	39,496	28,483	77,690
Federal Home Loan Bank advances and other borrowings	190,181	12,865	378,287	12,974
Total interest expense	738,590	884,825	1,535,727	1,829,327
Net interest income	5,542,521	3,870,403	11,115,976	7,635,937
(Recovery of) provision for loan losses	(20,000)	350,000	100,000	475,000
Net interest income after (recovery of) provision for loan losses	5,562,521	3,520,403	11,015,976	7,160,937
Noninterest income:
Mortgage banking income	240,666	350,110	496,933	412,367
Bank owned life insurance income	82,922	43,211	153,041	85,223
Gain on sale of premises and equipment	0	0	37,613	0
Fair value adjustment on equity security	511	4,535	(8,158)	13,045
Gain on sale of SBA loans	0	63,635	0	63,635
Gain on premium call of debt security	0	0	8,569	0
Total noninterest income	548,556	608,226	1,105,501	910,228
Noninterest expense:
Salaries	1,844,736	1,296,278	3,471,074	2,651,197
Employee benefits	438,133	359,450	911,021	806,554
Occupancy	245,318	185,394	495,530	368,546
Furniture and equipment	183,689	165,812	380,372	326,261
Acquisition	0	165,096	0	344,920
Other	797,257	689,973	1,646,260	1,310,838
Total noninterest expense	3,509,133	2,862,003	6,904,257	5,808,316
Income before income taxes	2,601,944	1,266,626	5,217,220	2,262,849
Income taxes	569,725	230,571	1,155,426	383,487
Net income	$ 2,032,219	$ 1,036,055	$ 4,061,794	$ 1,879,362
Earnings per share - basic and diluted (in dollars per share)	$ 0.67	$ 0.35	$ 1.35	$ 0.63
Deposit Account [Member]
Noninterest income:
Noninterest revenue	$ 176,483	$ 117,658	$ 335,674	$ 276,213
Financial Service, Other [Member]
Noninterest income:
Noninterest revenue	$ 47,974	$ 29,077	$ 81,829	$ 59,745

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net income	$ 2,032,219	$ 1,036,055	$ 4,061,794	$ 1,879,362
Securities available for sale
Net unrealized gain (loss) arising during the period	(207,421)	883,144	(1,106,751)	1,055,835
Reclassification adjustment for realized gains and losses included in net income	0	0	8,569	0
Total unrealized gain (loss) on investment securities available for sale	(207,421)	883,144	(1,098,182)	1,055,835
Income tax expense (benefit)	(57,077)	243,019	(302,192)	290,539
Total other comprehensive income (loss)	(150,344)	640,125	(795,990)	765,296
Total comprehensive income	$ 1,881,875	$ 1,676,180	$ 3,265,804	$ 2,644,658

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
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	0	0	1,879,362	0	1,879,362
Other comprehensive income (loss)	0	0	0	765,296	765,296
Cash dividends	$ 0	0	(773,464)	0	(773,464)
Dividends reinvested (in shares)	17,944
Dividends reinvested	$ 180	241,167	0	0	241,347
Balance (in shares) at Jun. 30, 2020	2,991,963
Balance at Jun. 30, 2020	$ 29,920	28,054,158	22,674,059	807,920	51,566,057
Balance (in shares) at Mar. 31, 2020	2,974,019
Balance at Mar. 31, 2020	$ 29,740	27,812,991	22,411,468	167,795	50,421,994
Net income	0	0	1,036,055	0	1,036,055
Other comprehensive income (loss)	0	0	0	640,125	640,125
Cash dividends	$ 0	0	(773,464)	0	(773,464)
Dividends reinvested (in shares)	17,944
Dividends reinvested	$ 180	241,167	0	0	241,347
Balance (in shares) at Jun. 30, 2020	2,991,963
Balance at Jun. 30, 2020	$ 29,920	28,054,158	22,674,059	807,920	51,566,057
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
Net income	0	0	4,061,794	0	4,061,794
Other comprehensive income (loss)	0	0	0	(795,990)	(795,990)
Cash dividends	$ 0	0	(843,177)	0	(843,177)
Dividends reinvested (in shares)	12,232
Dividends reinvested	$ 122	263,110	0	0	263,232
Balance (in shares) at Jun. 30, 2021	3,023,487
Balance at Jun. 30, 2021	$ 30,235	28,557,249	25,917,571	(89,713)	54,415,342
Balance (in shares) at Mar. 31, 2021	3,011,255
Balance at Mar. 31, 2021	$ 30,113	28,294,139	24,728,529	60,631	53,113,412
Net income	0	0	2,032,219	0	2,032,219
Other comprehensive income (loss)	0	0	0	(150,344)	(150,344)
Cash dividends	$ 0	0	(843,177)	0	(843,177)
Dividends reinvested (in shares)	12,232
Dividends reinvested	$ 122	263,110	0	0	263,232
Balance (in shares) at Jun. 30, 2021	3,023,487
Balance at Jun. 30, 2021	$ 30,235	$ 28,557,249	$ 25,917,571	$ (89,713)	$ 54,415,342

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Retained Earnings [Member]
Cash dividends, per share (in dollars per share)	$ 0.28	$ 0.26	$ 0.28	$ 0.26

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities
Interest received	$ 13,180,690	$ 9,404,760
Fees and commissions received	914,436	748,326
Interest paid	(1,931,141)	(1,866,535)
Proceeds from sale of mortgage loans held for sale	24,664,376	21,655,071
Origination of mortgage loans held for sale	(24,308,846)	(22,887,047)
Cash paid to suppliers and employees	(6,385,841)	(5,413,489)
Income taxes paid, net of refunds received	(650,000)	0
Net Cash Provided by (Used in) Operating Activities, Total	5,483,674	1,641,086
Cash flows from investing activities
Proceeds from maturity and call of securities Available for sale	17,250,486	6,711,028
Proceeds from maturity and call of securities Held to maturity	2,078,569	500,000
Available for sale	(62,471,145)	(19,890,543)
Held to maturity	(342,062)	(3,065,625)
Purchases of certificates of deposit	500,000	(1,500,000)
Loans made to customers, net of principal collected	3,981,211	(26,132,027)
Proceeds from sale of loans	0	683,885
Redemption(purchase) of stock in FHLB of Atlanta	225,331	(235,100)
Purchase of bank owned life insurance	(3,700,000)	0
Proceeds from sale of premises and equipment	1,359,613	0
Purchases of premises, equipment and software	(113,873)	(148,898)
Net Cash Provided by (Used in) Investing Activities, Total	(41,231,870)	(43,077,280)
Cash flows from financing activities
Noninterest-bearing deposits	23,557,714	25,292,071
Interest-bearing deposits	15,318,315	29,255,715
Securities sold under repurchase agreements	(11,067,408)	292,803
Federal Home Loan Bank of Atlanta advances	0	5,000,000
Dividends paid, net of reinvestments	(579,945)	(532,117)
Net Cash Provided by (Used in) Financing Activities, Total	27,228,676	59,308,472
Net increase in cash and cash equivalents	(8,519,520)	17,872,278
Cash and cash equivalents at beginning of period	40,975,670	9,121,352
Cash and cash equivalents at end of period	32,456,150	26,993,630
Reconciliation of net income to net cash provided by operating activities
Net income	4,061,794	1,879,362
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	241,912	164,949
Provision for loan losses	100,000	475,000
Amortization of right of use asset	15,475	17,215
Equity security dividends reinvested	(3,506)	(5,440)
Fair value adjustment on equity securities	8,158	(13,045)
Gain on sale of SBA loans	0	(63,635)
Gain on sale of premises and equipment	(37,613)	0
Gain on premium call of debt security	(8,569)	0
Amortization of debt issuance costs	2,813	0
Amortization of premiums and accretion of discounts, net	130,805	154,435
Bank owned life insurance cash surrender value	(153,041)	(85,222)
Increase (decrease) in
Deferred loan fees and costs, net	275,916	649,928
Accrued interest payable	(254,842)	(37,208)
Other liabilities	133,891	419,608
Decrease (increase) in
Mortgage loans held for sale	355,530	(1,231,976)
Accrued interest receivable	279,524	(704,992)
Other assets	335,427	22,107
Net Cash Provided by (Used in) Operating Activities, Total	$ 5,483,674	$ 1,641,086

Note 1 - Principles of Consolid

Note 1 - Principles of Consolidation	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Principles of consolidation The consolidated financial statements include the accounts of Farmers and Merchants Bancshares, Inc. and its wholly owned subsidiaries, Farmers and Merchants Bank (the “Bank”), and Series Protected Cell FCB- 4 one October 1, 2020, three six June 30, 2021, 2020

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	2. Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and in accordance with the instructions to Form 10 8 03 X. not three six June 30, 2021 not may December 31, 2021 December 31, 2020, 10 December 31, 2020. 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 Loans and allowance for loan losses Loans are stated at the current amount of unpaid principal, adjusted for deferred origination costs, deferred origination fees, premiums and discounts on acquired loans, and the allowance for loan losses. Interest on loans is accrued based on the principal amounts outstanding. Origination fees and costs, along with premiums and accretable discounts, 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 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 Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 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 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 Recent Accounting Pronouncements In June 2016, 2016‑13, 2019 10 326 815 842 2023 third In December 2019, 2019 12, 740 740. 2019 12 December 15, 2020. not In March 2020, 2020 04, 848 2020 04 March 12, 2020 December 31, 2022.

Note 3 - Investment Securities

Note 3 - Investment Securities	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	3. Investment Securities Investments in debt securities are summarized as follows: Amortized Unrealized Unrealized Fair June 30, 2021 cost gains losses value Available for sale State and municipal $ 756,552 $ 14,425 $ - $ 770,977 SBA pools 1,682,144 1,957 27,013 1,657,088 Corporate bonds 7,955,863 121,417 2,694 8,074,586 Mortgage-backed securities 87,980,820 672,743 904,607 87,748,956 $ 98,375,379 $ 810,542 $ 934,314 $ 98,251,607 Held to maturity State and municipal $ 21,401,599 $ 1,013,209 $ 56,888 $ 22,357,920 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 Contractual maturities, shown below, will differ from actual maturities because borrowers and issuers may Available for Sale Held to Maturity Amortized Fair Amortized Fair June 30, 2021 cost value cost value Within one year $ 499,816 $ 511,785 $ - $ - Over one to five years 4,122,839 4,234,922 796,579 811,970 Over five to ten years 4,089,760 4,098,856 2,032,001 2,101,343 Over ten years - - 18,573,019 19,444,607 8,712,415 8,845,563 21,401,599 22,357,920 Mortgage-backed securities and SBA pools, due in monthly installments 89,662,964 89,406,044 - - $ 98,375,379 $ 98,251,607 $ 21,401,599 $ 22,357,920 December 31, 2020 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 Securities with a carrying value of $23,432,296 June 30, 2021 December 31, 2020, During the six June 30, 2021, 513,845 8,569 six June 30, 2020. The following table sets forth the Company’s gross unrealized losses on a continuous basis for investments in debt securities, by category and length of time, at June 30, 2021 December 31, 2020. June 30, 2021 Less than 12 months 12 months or more Total Description of investments Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss State and municipal $ 1,538,840 $ 56,888 $ - $ - $ 1,538,840 $ 56,888 SBA pools - - 1,338,764 27,013 1,338,764 27,013 Corporate bonds 1,610,022 2,694 - - 1,610,022 2,694 Mortgage-backed securities 50,748,391 894,680 943,976 9,927 51,692,367 904,607 Total $ 53,897,253 $ 954,262 $ 2,282,740 $ 36,940 $ 56,179,993 $ 991,202 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 Management has the ability and intent to hold securities classified as held to maturity until they mature, at which time the Company should receive full value for the securities. As of June 30, 2021 December 31, 2020, not June 30, 2021 December 31, 2020, not June 30, 2021, At June 30, 2021, none 1 2 3 not The factors considered in evaluating securities for impairment include whether the Bank intends to sell the security, whether it is more likely than not

Note 4 - Loans

Note 4 - Loans	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	4. Loans Major categories of loans are as follows: June 30, December 31, 2021 2020 Real estate: Commercial $ 319,322,780 $ 309,284,811 Construction and land development 31,411,527 33,641,916 Residential 119,493,617 121,327,761 Commercial 51,330,242 61,368,105 Consumer 402,457 288,454 521,960,623 525,911,047 Less: Allowance for loan losses 3,404,168 3,296,538 Deferred origination fees net of costs 1,200,121 923,995 $ 517,356,334 $ 521,690,514 Commercial loans in the table above include $26.5 million and $31.1 million of Paycheck Protection Program (“PPP”) loans as of June 30, 2021 December 31, 2020, 100% six June 30, 2021. six June 30, 2021, Nonaccrual loans, segregated by class of loans, were as follows: June 30, December 31, 2021 2020 Real estate: Commercial $ 4,388,004 $ 4,407,829 Residential 31,500 220,967 $ 4,419,504 $ 4,628,796 At June 30, 2021, one one six June 30, 2021 June 30, 2021. At December 31, 2020, one two 2020 December 31, 2020. An age analysis of past due loans, segregated by type of loan, is as follows: 90 Days Past Due 90 30 - 59 Days 60 - 89 Days or More Total Total Days or More Past Due Past Due Past Due Past Due Current Loans and Accruing June 30, 2021 Real estate: Commercial $ - $ - $ - $ - $ 319,322,780 $ 319,322,780 $ - Construction and land development - - - - 31,411,527 31,411,527 - Residential - - 31,500 31,500 119,462,117 119,493,617 - Commercial - - - - 51,330,242 51,330,242 - Consumer - - - - 402,457 402,457 - Total $ - $ - $ 31,500 $ 31,500 $ 521,929,123 $ 521,960,623 $ - December 31, 2020 Real estate: Commercial $ 182,656 $ - $ - $ 182,656 $ 309,102,155 $ 309,284,811 $ - Construction and land development - - - - 33,641,916 33,641,916 - Residential 24,591 - 220,967 245,558 121,082,203 121,327,761 - 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 $ - Impaired loans, segregated by class of loans with average recorded investment and interest recognized for the six June 30, 2021 December 31, 2020, Unpaid Recorded Recorded Contractual Investment Investment Total Average Principal With No With Recorded Related Recorded Interest Balance Allowance Allowance Investment Allowance Investment Recognized June 30, 2021 Commercial real estate $ 6,609,506 $ 6,609,506 $ - $ 6,609,506 $ - $ 6,634,826 $ 56,179 Construction and land development - - - - - - - Residential real estate 42,005 42,005 - 42,005 - 43,369 857 $ 6,651,511 $ 6,651,511 $ - $ 6,651,511 $ - $ 6,678,195 $ 57,036 December 31, 2020 Commercial real estate $ 6,660,145 $ 6,660,145 $ - $ 6,660,145 $ - $ 4,448,343 $ 345,570 Construction and land development - - - - - - - Residential real estate 44,733 44,733 - 44,733 - 430,360 2,139 $ 6,704,878 $ 6,704,878 $ - $ 6,704,878 $ - $ 4,878,703 $ 347,709 Impaired loans include troubled debt restructurings (“TDRs”), which are loans that have been modified to provide economic concessions to borrowers who have experienced financial difficulties. These concessions typically result from the Company’s loss mitigation activities and could include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance, or other actions. Certain TDRs are classified as nonperforming at the time of restructure and may six At June 30, 2021, two one June 30, 2021, three no three At December 31, 2020, two one 2020. three three Section 4013 310 40 19 March 1, 2020 January 1, 2022 60 19 not 30 December 31, 2019 April 2020, six 19 not 310 40. 19 June 30, 2021, three None June 30, 2021 As part of our portfolio risk management, the Company assigns a risk grade to each loan. The factors used to determine the grade are the payment history of the loan and the borrower, the value of the collateral and net worth of the guarantor, and cash flow projections of the borrower. Excellent, Above Average, Average and Acceptable grades are assigned to loans with limited or no A description of the general characteristics of loans characterized as watch list or classified is as follows: Pass/Watch Loans graded as Pass/Watch are secured by generally acceptable assets which reflect above-average risk. The loans warrant closer scrutiny by management than is routine, due to circumstances affecting the borrower, the borrower’s industry, or the overall economic environment. Borrowers may Special Mention A special mention loan has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may not not Borrowers may may may Substandard A substandard loan is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard loans have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not Borrowers may Doubtful A doubtful loan has all the weaknesses inherent in a substandard loan with the added characteristic that the weaknesses, based on currently existing facts, conditions, and values, make collection or liquidation in full highly questionable and improbable. Loans by credit grade, segregated by loan type, are as follows: Above Pass Special June 30, 2021 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ 1,678,287 $ 87,503,664 $ 113,377,554 $ 103,216,843 $ 5,700,716 $ 7,845,716 $ - $ 319,322,780 Construction and land development - - 5,758,191 11,984,373 8,893,951 1,841,696 2,933,316 - 31,411,527 Residential 49,334 902,490 57,430,049 48,605,991 9,981,116 - 2,524,637 - 119,493,617 Commercial 26,227,641 - 6,978,988 13,448,027 4,675,586 - - - 51,330,242 Consumer 8,279 227,779 131,465 4,668 13,854 - - 16,412 402,457 $ 26,285,254 $ 2,808,556 $ 157,802,357 $ 187,420,613 $ 126,781,350 $ 7,542,412 $ 13,303,669 $ 16,412 $ 521,960,623 Above Pass Special December 31, 2020 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ 2,010,472 $ 96,178,011 $ 87,860,036 $ 108,045,730 $ 5,951,177 $ 9,239,385 $ - $ 309,284,811 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 63,811,389 40,947,548 12,579,311 - 2,926,404 - 121,327,761 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 The principal balance of loans in the Pass/Watch category as of June 30, 2021 December 31, 2020 19. 90 The Company’s allowance for loan losses is based on management’s evaluation of the risks inherent in the Company’s loan portfolio and the general economy. The allowance for loan may The following table details activity in the allowance for loan losses by portfolio for the six June 30, 2021 2020 December 31, 2020. one not Allowance for loan losses ending Outstanding loan balances Provision balance evaluated for impairment: evaluated for impairment: Beginning for loan Charge Ending Purchase Credit Purchase Credit June 30, 2021 balance losses offs Recoveries balance Individually Impaired Collectively Individually Impaired Collectively Real estate: Commercial $ 2,230,129 $ 373,796 $ - $ 3,500 $ 2,607,425 $ - $ - $ 2,607,425 $ 6,609,506 - $ 312,713,274 Construction and land development 201,692 (67,611 ) - 8,100 142,181 - - 142,181 - 1,544,309 29,867,218 Residential 644,639 (148,627 ) (18,970 ) - 477,042 - - 477,042 42,005 511,413 118,940,199 Commercial 111,390 (18,184 ) - 15,000 108,206 - - 108,206 - - 51,330,242 Consumer 2,138 450 - - 2,588 - - 2,588 - - 402,457 Unallocated 106,550 (39,824 ) - - 66,726 - - 66,726 - - - $ 3,296,538 $ 100,000 $ (18,970 ) $ 26,600 $ 3,404,168 $ - $ - $ 3,404,168 $ 6,651,511 $ 2,055,722 $ 513,253,390 Allowance for loan losses ending Outstanding loan balances Provision balance evaluated for impairment: evaluated for impairment: Beginning for loan Charge Ending Purchase Credit Purchase Credit June 30, 2020 balance losses offs Recoveries balance Individually Impaired Collectively Individually Impaired Collectively Real estate: Commercial $ 1,763,861 $ 396,409 $ - $ 44,962 $ 2,205,232 $ - $ - $ 2,205,232 $ 2,502,296 $ - $ 233,437,877 Construction and land development 192,828 22,302 - 7,200 222,330 - - 222,330 - - 20,550,954 Residential 478,124 55,640 - - 533,764 - - 533,764 49,342 - 75,045,229 Commercial 107,782 (7,709 ) - 15,835 115,908 - - 115,908 - - 56,272,588 Consumer 4,133 (740 ) - - 3,393 - - 3,393 - - 216,190 Unallocated 46,987 9,098 - - 56,085 - - 56,085 - - - $ 2,593,715 $ 475,000 $ - $ 67,997 $ 3,136,712 $ - $ - $ 3,136,712 $ 2,551,638 $ - $ 385,522,838 Allowance for loan losses ending Outstanding loan balances Provision balance evaluated for impairment: evaluated for impairment: Beginning for loan Charge Ending Purchase Credit Purchase Credit December 31, 2020 balance losses offs Recoveries balance Individually Impaired Collectively Individually Impaired Collectively Real estate: Commercial $ 1,763,861 $ 418,806 $ - $ 47,462 $ 2,230,129 $ - $ - $ 2,230,129 $ 6,660,245 $ 151,453 $ 302,473,113 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 - - 644,639 215,230 595,433 120,517,098 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 $ 6,875,475 $ 2,313,060 $ 516,722,512 The following table provides activity for the accretable credit discount of purchased loans: 2021 Balance at December 31, 2020 $ 2,250,232 Acquired during the year - Accretion 409,056 Adjustments - Balance at June 30, 2021 $ 1,841,176 At June 30, 2021, June 30, 2021, June 30, 2021, June 30, 2021,

Note 5 - Goodwill and Other Int

Note 5 - Goodwill and Other Intangibles	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	5. Goodwill and Other Intangibles The acquisition of Carroll in October 2020 Goodwill CDI Total Balance at December 31, 2020 $ 6,978,208 $ 81,200 $ 7,059,408 Acquired during the year - - - Amortization - (4,134 ) (4,134 ) Adjustments - - - Balance at June 30, 2021 $ 6,978,208 $ 77,066 $ 7,055,274 The CDI is being amortized over 10 years on a straight line basis. Annual amortization will be $8,328 for each of the years ended December 31, 2021 2029 2030. not

Note 6 - Lease Commitments

Note 6 - Lease Commitments	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	6. Lease Commitments The Company and its subsidiaries are obligated under operating leases for certain office premises. The following table shows operating lease right of use assets and operating lease liabilities as of June 30, 2021 December 31, 2020: Consolidated Balance Sheet classification June 30, 2021 December 31, 2020 Operating lease right of use asset Other assets $ 1,168,107 $ 1,242,832 Operating lease liabilities Other liabilities 1,384,716 1,443,966 Operating lease cost included in occupancy expense in the statement of income for the six June 30, 2021 2020 A maturity analysis of operating lease liabilities, including those option years for which the Company is reasonably certain to renew, and reconciliation of the undiscounted cash flows to the total operating lease liabilities are as follows: Year Amount 2021 $ 107,384 2022 221,497 2023 228,531 2024 234,910 2025 241,483 Thereafter 899,195 Total undiscounted cash flow 1,933,000 Discount (548,284 ) Lease liabilities $ 1,384,716 For operating leases as of June 30, 2021, six June 30, 2021 2020,

Note 7 - Capital Standards

Note 7 - Capital Standards	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Regulatory Capital Requirements under Banking Regulations [Text Block]	7. Capital Standards Farmers and Merchants Bancshares, Inc. and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possible additional, discretionary actions by the regulators that, if undertaken, could have a direct material effect on our financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, we must meet specific capital guidelines that involve quantitative measures of our assets, liabilities, and certain off‑balance sheet items as calculated under regulatory accounting practices. Our capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Quantitative measures established by the Basel III Capital Rules to ensure capital adequacy require the maintenance of minimum amounts and ratios (set forth in the table below) of Common Equity Tier 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 Insured depository institutions are required to meet the following in order to qualify as “well capitalized”: (i) a common equity Tier 1 6.5%; 1 8%; 10%; 1 The implementation of the capital conservation buffer began on January 1, 2016, 0.625% four January 1, 2.5% January 1, 2019 not June 30, 2021, The aforementioned capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of Common Equity Tier 1 The following table presents actual and required capital ratios as of June 30, 2021 December 31, 2020 June 30, 2021 December 31, 2020 Minimum To Be Well (Dollars in thousands) Actual Capital Adequacy Capitalized June 30, 2021 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 66,196 12.58 % $ 55,251 10.50 % $ 52,620 10.00 % Tier 1 capital (to risk-weighted assets) 62,792 11.93 % 44,727 8.50 % 42,096 8.00 % Common equity tier 1 (to risk- weighted assets) 62,792 11.93 % 36,834 7.00 % 34,203 6.50 % Tier 1 leverage (to average assets) 62,792 9.00 % 27,896 4.00 % 34,870 5.00 % 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 % To be categorized as well capitalized, the Bank must maintain ratios as set forth in the table. As of June 30, 2021, no The FDIC, through formal or informal agreement, has the authority to require an institution to maintain higher capital ratios than those provided by statute, to be categorized as well capitalized under the regulatory framework for prompt corrective action.

Note 8 - Fair Value

Note 8 - Fair Value	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Fair Value Disclosures [Text Block]	8. Fair Value In accordance with FASB ASC 820, no not may not The fair value guidance provides a consistent definition of fair value, which focuses on exit price in the principal or most advantageous market for the asset or liability in an orderly transaction (that is, not may In accordance with the guidance, a hierarchy of valuation techniques is based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. The three 820 two ● 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 ● 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 The following table summarizes financial assets measured at fair value on a recurring and nonrecurring basis as of June 30, 2021 December 31, 2020, Carrying Value: Level 1 Level 2 Level 3 Total June 30, 2021 Recurring Available for sale securities State and municipal $ - $ 770,977 $ - $ 770,977 SBA pools - 1,657,088 - 1,657,088 Corporate bonds - 8,074,586 - 8,074,586 Mortgage-backed securities - 87,748,956 - 87,748,956 $ - $ 98,251,607 $ - $ 98,251,607 Equity security at fair value Mutual fund $ 547,914 $ - $ - $ 547,914 Nonrecurring Other real estate owned $ - $ - $ 1,411,605 $ 1,411,605 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 Mutual fund $ 552,566 $ - $ - $ 552,566 Nonrecurring Other real estate owned $ - $ - $ 1,411,605 $ 1,411,605 The estimated fair value of financial instruments that are reported at amortized cost in the Company’s consolidated balance sheets, segregated by the level of the valuation inputs were as follows: June 30, 2021 December 31, 2020 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets Level 1 inputs Cash and cash equivalents $ 32,456,150 $ 32,456,150 $ 40,975,670 $ 40,975,670 Level 2 inputs Certificates of deposit in other banks 350,000 350,000 850,000 850,000 Accrued interest receivable 1,777,967 1,777,967 2,057,491 2,057,491 Securities held to maturity 21,401,599 22,357,920 23,078,519 24,244,786 Mortgage loans held for sale 1,317,820 1,342,904 1,673,350 1,705,781 Restricted stock 547,914 547,914 900,500 900,500 Bank owned life insurance 15,150,383 15,150,383 11,297,342 11,297,342 Level 3 inputs Loans, net 517,356,334 525,395,623 521,690,514 527,132,047 Financial liabilities Level 1 inputs Noninterest-bearing deposits $ 126,712,827 $ 126,712,827 $ 103,155,113 $ 103,155,113 Securities sold under repurchase agreements 13,686,564 13,686,564 24,753,972 24,753,972 Level 2 inputs Interest-bearing deposits 485,417,230 486,656,230 470,246,434 474,096,434 Federal Home Loan Bank advances 5,000,000 5,049,000 5,000,000 5,136,000 Long-term debt 16,976,093 17,298,274 16,973,280 17,018,416 Accrued interest payable 154,780 154,780 409,622 409,622

Note 9 - Earnings Per Share

Note 9 - Earnings Per Share	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Earnings Per Share [Text Block]	9. Earnings per Share Basic earnings per share is determined by dividing net income available to stockholders by the weighted-average number of shares of common stock outstanding during the period and does not three six June 30, 2021 2020. no six June 30, 2021 2020. Three Months Ended Six Months Ended June 30 June 30 2021 2020 2021 2020 Net income $ 2,032,219 $ 1,036,055 $ 4,061,794 $ 1,879,362 Weighted average shares outstanding 3,011,927 2,975,005 3,011,593 2,974,512 Earnings per share - basic and diluted $ 0.67 $ 0.35 $ 1.35 $ 0.63

Note 10 - Retirement Plans

Note 10 - Retirement Plans	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Retirement Benefits [Text Block]	10. Retirement Plans The Company has a profit sharing plan qualifying under Section 401 21 six may $64,824 three June 30, 2021 2020, 141,748 six June 30, 2021 2020. The Company has entered into agreements with 12 $1,661 three June 30, 2021 2020, $3,322 six June 30, 2021 2020. The Company adopted supplemental executive retirement plans for three $42,000 three June 30, 2021 2020, $84,000 six June 30, 2021 2020 Retirement plan expenses are included in employee benefits on the consolidated statements of income.

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
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, premiums and discounts on acquired loans, and the allowance for loan losses. Interest on loans is accrued based on the principal amounts outstanding. Origination fees and costs, along with premiums and accretable discounts, 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 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 Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 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
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
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In June 2016, 2016‑13, 2019 10 326 815 842 2023 third In December 2019, 2019 12, 740 740. 2019 12 December 15, 2020. not In March 2020, 2020 04, 848 2020 04 March 12, 2020 December 31, 2022.

Note 3 - Investment Securities

Note 3 - Investment Securities (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Marketable Securities [Table Text Block]	Amortized Unrealized Unrealized Fair June 30, 2021 cost gains losses value Available for sale State and municipal $ 756,552 $ 14,425 $ - $ 770,977 SBA pools 1,682,144 1,957 27,013 1,657,088 Corporate bonds 7,955,863 121,417 2,694 8,074,586 Mortgage-backed securities 87,980,820 672,743 904,607 87,748,956 $ 98,375,379 $ 810,542 $ 934,314 $ 98,251,607 Held to maturity State and municipal $ 21,401,599 $ 1,013,209 $ 56,888 $ 22,357,920 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
Investments Classified by Contractual Maturity Date [Table Text Block]	Available for Sale Held to Maturity Amortized Fair Amortized Fair June 30, 2021 cost value cost value Within one year $ 499,816 $ 511,785 $ - $ - Over one to five years 4,122,839 4,234,922 796,579 811,970 Over five to ten years 4,089,760 4,098,856 2,032,001 2,101,343 Over ten years - - 18,573,019 19,444,607 8,712,415 8,845,563 21,401,599 22,357,920 Mortgage-backed securities and SBA pools, due in monthly installments 89,662,964 89,406,044 - - $ 98,375,379 $ 98,251,607 $ 21,401,599 $ 22,357,920 December 31, 2020 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
Schedule of Unrealized Loss on Investments [Table Text Block]	June 30, 2021 Less than 12 months 12 months or more Total Description of investments Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss State and municipal $ 1,538,840 $ 56,888 $ - $ - $ 1,538,840 $ 56,888 SBA pools - - 1,338,764 27,013 1,338,764 27,013 Corporate bonds 1,610,022 2,694 - - 1,610,022 2,694 Mortgage-backed securities 50,748,391 894,680 943,976 9,927 51,692,367 904,607 Total $ 53,897,253 $ 954,262 $ 2,282,740 $ 36,940 $ 56,179,993 $ 991,202 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

Note 4 - Loans (Tables)

Note 4 - Loans (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	June 30, December 31, 2021 2020 Real estate: Commercial $ 319,322,780 $ 309,284,811 Construction and land development 31,411,527 33,641,916 Residential 119,493,617 121,327,761 Commercial 51,330,242 61,368,105 Consumer 402,457 288,454 521,960,623 525,911,047 Less: Allowance for loan losses 3,404,168 3,296,538 Deferred origination fees net of costs 1,200,121 923,995 $ 517,356,334 $ 521,690,514
Financing Receivable, Nonaccrual [Table Text Block]	June 30, December 31, 2021 2020 Real estate: Commercial $ 4,388,004 $ 4,407,829 Residential 31,500 220,967 $ 4,419,504 $ 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 June 30, 2021 Real estate: Commercial $ - $ - $ - $ - $ 319,322,780 $ 319,322,780 $ - Construction and land development - - - - 31,411,527 31,411,527 - Residential - - 31,500 31,500 119,462,117 119,493,617 - Commercial - - - - 51,330,242 51,330,242 - Consumer - - - - 402,457 402,457 - Total $ - $ - $ 31,500 $ 31,500 $ 521,929,123 $ 521,960,623 $ - December 31, 2020 Real estate: Commercial $ 182,656 $ - $ - $ 182,656 $ 309,102,155 $ 309,284,811 $ - Construction and land development - - - - 33,641,916 33,641,916 - Residential 24,591 - 220,967 245,558 121,082,203 121,327,761 - 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 $ -
Impaired Financing Receivables [Table Text Block]	Unpaid Recorded Recorded Contractual Investment Investment Total Average Principal With No With Recorded Related Recorded Interest Balance Allowance Allowance Investment Allowance Investment Recognized June 30, 2021 Commercial real estate $ 6,609,506 $ 6,609,506 $ - $ 6,609,506 $ - $ 6,634,826 $ 56,179 Construction and land development - - - - - - - Residential real estate 42,005 42,005 - 42,005 - 43,369 857 $ 6,651,511 $ 6,651,511 $ - $ 6,651,511 $ - $ 6,678,195 $ 57,036 December 31, 2020 Commercial real estate $ 6,660,145 $ 6,660,145 $ - $ 6,660,145 $ - $ 4,448,343 $ 345,570 Construction and land development - - - - - - - Residential real estate 44,733 44,733 - 44,733 - 430,360 2,139 $ 6,704,878 $ 6,704,878 $ - $ 6,704,878 $ - $ 4,878,703 $ 347,709
Financing Receivable Credit Quality Indicators [Table Text Block]	Above Pass Special June 30, 2021 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ 1,678,287 $ 87,503,664 $ 113,377,554 $ 103,216,843 $ 5,700,716 $ 7,845,716 $ - $ 319,322,780 Construction and land development - - 5,758,191 11,984,373 8,893,951 1,841,696 2,933,316 - 31,411,527 Residential 49,334 902,490 57,430,049 48,605,991 9,981,116 - 2,524,637 - 119,493,617 Commercial 26,227,641 - 6,978,988 13,448,027 4,675,586 - - - 51,330,242 Consumer 8,279 227,779 131,465 4,668 13,854 - - 16,412 402,457 $ 26,285,254 $ 2,808,556 $ 157,802,357 $ 187,420,613 $ 126,781,350 $ 7,542,412 $ 13,303,669 $ 16,412 $ 521,960,623 Above Pass Special December 31, 2020 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ 2,010,472 $ 96,178,011 $ 87,860,036 $ 108,045,730 $ 5,951,177 $ 9,239,385 $ - $ 309,284,811 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 63,811,389 40,947,548 12,579,311 - 2,926,404 - 121,327,761 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
Financing Receivable, Allowance for Credit Loss [Table Text Block]	Allowance for loan losses ending Outstanding loan balances Provision balance evaluated for impairment: evaluated for impairment: Beginning for loan Charge Ending Purchase Credit Purchase Credit June 30, 2021 balance losses offs Recoveries balance Individually Impaired Collectively Individually Impaired Collectively Real estate: Commercial $ 2,230,129 $ 373,796 $ - $ 3,500 $ 2,607,425 $ - $ - $ 2,607,425 $ 6,609,506 - $ 312,713,274 Construction and land development 201,692 (67,611 ) - 8,100 142,181 - - 142,181 - 1,544,309 29,867,218 Residential 644,639 (148,627 ) (18,970 ) - 477,042 - - 477,042 42,005 511,413 118,940,199 Commercial 111,390 (18,184 ) - 15,000 108,206 - - 108,206 - - 51,330,242 Consumer 2,138 450 - - 2,588 - - 2,588 - - 402,457 Unallocated 106,550 (39,824 ) - - 66,726 - - 66,726 - - - $ 3,296,538 $ 100,000 $ (18,970 ) $ 26,600 $ 3,404,168 $ - $ - $ 3,404,168 $ 6,651,511 $ 2,055,722 $ 513,253,390 Allowance for loan losses ending Outstanding loan balances Provision balance evaluated for impairment: evaluated for impairment: Beginning for loan Charge Ending Purchase Credit Purchase Credit June 30, 2020 balance losses offs Recoveries balance Individually Impaired Collectively Individually Impaired Collectively Real estate: Commercial $ 1,763,861 $ 396,409 $ - $ 44,962 $ 2,205,232 $ - $ - $ 2,205,232 $ 2,502,296 $ - $ 233,437,877 Construction and land development 192,828 22,302 - 7,200 222,330 - - 222,330 - - 20,550,954 Residential 478,124 55,640 - - 533,764 - - 533,764 49,342 - 75,045,229 Commercial 107,782 (7,709 ) - 15,835 115,908 - - 115,908 - - 56,272,588 Consumer 4,133 (740 ) - - 3,393 - - 3,393 - - 216,190 Unallocated 46,987 9,098 - - 56,085 - - 56,085 - - - $ 2,593,715 $ 475,000 $ - $ 67,997 $ 3,136,712 $ - $ - $ 3,136,712 $ 2,551,638 $ - $ 385,522,838 Allowance for loan losses ending Outstanding loan balances Provision balance evaluated for impairment: evaluated for impairment: Beginning for loan Charge Ending Purchase Credit Purchase Credit December 31, 2020 balance losses offs Recoveries balance Individually Impaired Collectively Individually Impaired Collectively Real estate: Commercial $ 1,763,861 $ 418,806 $ - $ 47,462 $ 2,230,129 $ - $ - $ 2,230,129 $ 6,660,245 $ 151,453 $ 302,473,113 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 - - 644,639 215,230 595,433 120,517,098 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 $ 6,875,475 $ 2,313,060 $ 516,722,512
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table Text Block]	2021 Balance at December 31, 2020 $ 2,250,232 Acquired during the year - Accretion 409,056 Adjustments - Balance at June 30, 2021 $ 1,841,176

Note 5 - Goodwill and Other I_2

Note 5 - Goodwill and Other Intangibles (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Intangible Assets and Goodwill [Table Text Block]	Goodwill CDI Total Balance at December 31, 2020 $ 6,978,208 $ 81,200 $ 7,059,408 Acquired during the year - - - Amortization - (4,134 ) (4,134 ) Adjustments - - - Balance at June 30, 2021 $ 6,978,208 $ 77,066 $ 7,055,274

Note 6 - Lease Commitments (Tab

Note 6 - Lease Commitments (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Components of Lease Assets and Liabilities [Table Text Block]	Consolidated Balance Sheet classification June 30, 2021 December 31, 2020 Operating lease right of use asset Other assets $ 1,168,107 $ 1,242,832 Operating lease liabilities Other liabilities 1,384,716 1,443,966
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Year Amount 2021 $ 107,384 2022 221,497 2023 228,531 2024 234,910 2025 241,483 Thereafter 899,195 Total undiscounted cash flow 1,933,000 Discount (548,284 ) Lease liabilities $ 1,384,716

Note 7 - Capital Standards (Tab

Note 7 - Capital Standards (Tables)	6 Months Ended
	Jun. 30, 2021
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 June 30, 2021 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 66,196 12.58 % $ 55,251 10.50 % $ 52,620 10.00 % Tier 1 capital (to risk-weighted assets) 62,792 11.93 % 44,727 8.50 % 42,096 8.00 % Common equity tier 1 (to risk- weighted assets) 62,792 11.93 % 36,834 7.00 % 34,203 6.50 % Tier 1 leverage (to average assets) 62,792 9.00 % 27,896 4.00 % 34,870 5.00 % 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 %

Note 8 - Fair Value (Tables)

Note 8 - Fair Value (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	Carrying Value: Level 1 Level 2 Level 3 Total June 30, 2021 Recurring Available for sale securities State and municipal $ - $ 770,977 $ - $ 770,977 SBA pools - 1,657,088 - 1,657,088 Corporate bonds - 8,074,586 - 8,074,586 Mortgage-backed securities - 87,748,956 - 87,748,956 $ - $ 98,251,607 $ - $ 98,251,607 Equity security at fair value Mutual fund $ 547,914 $ - $ - $ 547,914 Nonrecurring Other real estate owned $ - $ - $ 1,411,605 $ 1,411,605 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 Mutual fund $ 552,566 $ - $ - $ 552,566 Nonrecurring Other real estate owned $ - $ - $ 1,411,605 $ 1,411,605
Fair Value, by Balance Sheet Grouping [Table Text Block]	June 30, 2021 December 31, 2020 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets Level 1 inputs Cash and cash equivalents $ 32,456,150 $ 32,456,150 $ 40,975,670 $ 40,975,670 Level 2 inputs Certificates of deposit in other banks 350,000 350,000 850,000 850,000 Accrued interest receivable 1,777,967 1,777,967 2,057,491 2,057,491 Securities held to maturity 21,401,599 22,357,920 23,078,519 24,244,786 Mortgage loans held for sale 1,317,820 1,342,904 1,673,350 1,705,781 Restricted stock 547,914 547,914 900,500 900,500 Bank owned life insurance 15,150,383 15,150,383 11,297,342 11,297,342 Level 3 inputs Loans, net 517,356,334 525,395,623 521,690,514 527,132,047 Financial liabilities Level 1 inputs Noninterest-bearing deposits $ 126,712,827 $ 126,712,827 $ 103,155,113 $ 103,155,113 Securities sold under repurchase agreements 13,686,564 13,686,564 24,753,972 24,753,972 Level 2 inputs Interest-bearing deposits 485,417,230 486,656,230 470,246,434 474,096,434 Federal Home Loan Bank advances 5,000,000 5,049,000 5,000,000 5,136,000 Long-term debt 16,976,093 17,298,274 16,973,280 17,018,416 Accrued interest payable 154,780 154,780 409,622 409,622

Note 9 - Earnings Per Share (Ta

Note 9 - Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Six Months Ended June 30 June 30 2021 2020 2021 2020 Net income $ 2,032,219 $ 1,036,055 $ 4,061,794 $ 1,879,362 Weighted average shares outstanding 3,011,927 2,975,005 3,011,593 2,974,512 Earnings per share - basic and diluted $ 0.67 $ 0.35 $ 1.35 $ 0.63

Note 1 - Principles of Consol_2

Note 1 - Principles of Consolidation (Details Textual)	Oct. 01, 2020
First Community Bankers Insurance Co., LLC [Member]
Percentage of Ownership	100.00%

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation (Details Textual)	6 Months Ended
	Jun. 30, 2021
Core Deposits [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	10 years

Note 3 - Investment Securitie_2

Note 3 - Investment Securities (Details Textual)	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Security Owned and Pledged as Collateral, Fair Value, Total	$ 23,432,296		$ 23,432,296		$ 34,958,212
Proceeds from Sale of Debt Securities, Available-for-sale			513,845
Debt Securities, Available-for-sale, Realized Gain (Loss), Total	$ 0	$ 0	$ 8,569	$ 0
Debt Securities, Available-for-sale, Unrealized Loss Position, Number of Positions	46		46
Held-to-maturity, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	3		3

Note 3 - Investment Securitie_3

Note 3 - Investment Securities - Investments in Debt Securities (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Amortized cost, available for sale	$ 98,375,379	$ 53,502,875
Unrealized gains, available for sale	810,542	1,074,253
Unrealized losses, available for sale	934,314	99,842
Fair value, available for sale	98,251,607	54,477,286
Amortized cost, held to maturity	21,401,599	23,078,519
Fair value, held to maturity	22,357,920	24,244,786
US States and Political Subdivisions Debt Securities [Member]
Amortized cost, available for sale	756,552	962,438
Unrealized gains, available for sale	14,425	24,094
Unrealized losses, available for sale	0	0
Fair value, available for sale	770,977	986,532
Amortized cost, held to maturity	21,401,599	23,078,519
Unrealized gains, held to maturity	1,013,209	1,177,125
Unrealized losses, held to maturity	56,888	10,858
Fair value, held to maturity	22,357,920	24,244,786
SBA Pools [Member]
Amortized cost, available for sale	1,682,144	1,822,226
Unrealized gains, available for sale	1,957	0
Unrealized losses, available for sale	27,013	38,419
Fair value, available for sale	1,657,088	1,783,807
Corporate Debt Securities [Member]
Amortized cost, available for sale	7,955,863	6,692,156
Unrealized gains, available for sale	121,417	108,172
Unrealized losses, available for sale	2,694	2,897
Fair value, available for sale	8,074,586	6,797,431
Collateralized Mortgage Backed Securities [Member]
Amortized cost, available for sale	87,980,820	44,026,055
Unrealized gains, available for sale	672,743	941,987
Unrealized losses, available for sale	904,607	58,526
Fair value, available for sale	$ 87,748,956	$ 44,909,516

Note 3 - Investment Securitie_4

Note 3 - Investment Securities - Contractual Maturities (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Available for Sale Amortized cost, Within one year	$ 499,816	$ 505,372
Available for Sale Fair value, Within one year	511,785	502,475
Held to Maturity Amortized cost, Within one year	0	487,741
Held to Maturity Fair value, Within one year	0	496,463
Available for Sale Amortized cost, Over one to five years	4,122,839	4,646,388
Available for Sale Fair value, Over one to five years	4,234,922	4,755,483
Held to Maturity Amortized cost, Over one to five years	796,579	793,876
Held to Maturity Fair value, Over one to five years	811,970	813,523
Available for Sale Amortized cost, Fair value, Over one to five years	4,089,760	2,300,591
Available for Sale Fair value, Over five to ten years	4,098,856	2,323,451
Held to Maturity Amortized cost, Over five to ten years	2,032,001	2,476,827
Held to Maturity Fair value, Over five to ten years	2,101,343	2,687,063
Available for Sale Amortized cost, Over ten years	0	202,243
Available for Sale Fair value, Over ten years	0	202,554
Held to Maturity Amortized cost, Over ten years	18,573,019	19,320,075
Held to Maturity Fair value, Over ten years	19,444,607	20,247,737
Available for Sale Amortized cost, total maturity	8,712,415	7,654,594
Available for Sale Fair value, total maturity	8,845,563	7,783,963
Held to Maturity Amortized cost, total maturity	21,401,599
Held to Maturity Fair value, total maturity	22,357,920	24,244,786
Available for Sale Amortized cost, due in monthly installments	89,662,964	45,848,281
Available for Sale Fair value, due in monthly installments	89,406,044	46,693,323
Held to Maturity Amortized cost, due in monthly installments	0	0
Held to Maturity Fair value, due in monthly installments	0	0
Available for Sale Amortized cost Total	98,375,379	53,502,875
Available for Sale Fair value Total	98,251,607	54,477,286
Held to Maturity Amortized cost Total	21,401,599	23,078,519
Held to Maturity Fair value Total	22,357,920	24,244,786
Available for Sale Amortized cost, total maturity	8,712,415	7,654,594
Available for Sale Fair value, total maturity	8,845,563	7,783,963
Securities held to maturity, at cost	21,401,599	23,078,519
Held to Maturity Fair value, total maturity	22,357,920	24,244,786
Available for Sale Amortized cost Total	98,375,379	53,502,875
Available for Sale Fair value Total	98,251,607	54,477,286
Held to Maturity Fair value Total	$ 22,357,920	$ 24,244,786

Note 3 - Investment Securitie_5

Note 3 - Investment Securities - Gross Unrealized Losses on Continuous Basis for Investment Securities (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Less than 12 months Fair value	$ 53,897,253	$ 10,508,709
Less than 12 months Unrealized losses	954,262	71,742
12 months or more Fair value	2,282,740	1,880,459
12 months or more Unrealized losses	36,940	38,958
Total Fair value	56,179,993	12,389,168
Total Unrealized losses	991,202	110,700
US States and Political Subdivisions Debt Securities [Member]
Less than 12 months Fair value	1,538,840	719,430
Less than 12 months Unrealized losses	56,888	10,858
12 months or more Fair value	0	0
12 months or more Unrealized losses	0	0
Total Fair value	1,538,840	719,430
Total Unrealized losses	56,888	10,858
SBA Pools [Member]
Less than 12 months Fair value	0	0
Less than 12 months Unrealized losses	0	0
12 months or more Fair value	1,338,764	1,783,807
12 months or more Unrealized losses	27,013	38,419
Total Fair value	1,338,764	1,783,807
Total Unrealized losses	27,013	38,419
Corporate Debt Securities [Member]
Less than 12 months Fair value	1,610,022	502,754
Less than 12 months Unrealized losses	2,694	2,897
12 months or more Fair value	0	0
12 months or more Unrealized losses	0	0
Total Fair value	1,610,022	502,754
Total Unrealized losses	2,694	2,897
Collateralized Mortgage Backed Securities [Member]
Less than 12 months Fair value	50,748,391	9,286,525
Less than 12 months Unrealized losses	894,680	57,987
12 months or more Fair value	943,976	96,652
12 months or more Unrealized losses	9,927	539
Total Fair value	51,692,367	9,383,177
Total Unrealized losses	$ 904,607	$ 58,526

Note 4 - Loans (Details Textual

Note 4 - Loans (Details Textual)	6 Months Ended		9 Months Ended	12 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)	Mar. 31, 2021USD ($)
Loans and Leases Receivable, Gross, Total	$ 521,960,623			$ 525,911,047	$ 521,960,623
Financing Receivable, Nonaccrual	4,419,504			4,628,796
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans	124,308			13,395
Impaired Financing Receivable, Related Allowance	0			0
Financing Receivable, Allowance for Credit Loss, Writeoff	18,970	$ 0		0
Financing Receivable, Deferred Payments, Subsequent Additional Deferrals	$ 5,100,000
Financing Receivable, Percent of Outstanding Loan Balance Additional Deferred	1.00%
Certain Loans Acquired in Transfer, Nonaccretable Difference	$ 927,000
Certain Loans Acquired in Transfer, Accretable Yield	1,737,899
Participating Mortgage Loans, Participation Liabilities, Amount	120,592,735
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net	119,562,458
Mortgage Loans in Process of Foreclosure, Amount	0
Nonaccrual Loans [Member]
Impaired Financing Receivable, Related Allowance	0			0
Allowance for Loan and Lease Losses Write-offs, Net, Total	8,176			8,176
Commercial Portfolio Segment [Member]
Loans and Leases Receivable, Gross, Total	51,330,242			61,368,105	51,330,242
Financing Receivable, Allowance for Credit Loss, Writeoff	0	0		0
Commercial Real Estate Portfolio Segment [Member]
Loans and Leases Receivable, Gross, Total	$ 319,322,780			$ 309,284,811	319,322,780
Financing Receivable, Number of Loans, Nonaccrual Status	1			1
Financing Receivable, Nonaccrual	$ 4,388,004			$ 4,407,829
Impaired Financing Receivable, Related Allowance	$ 0			$ 0
Number of Loans Classified as TDR	2			2
Financing Receivable, Troubled Debt Restructuring	$ 2,221,502			$ 2,252,316
Financing Receivable, Troubled Debt Restructuring, Premodification				182,656
Financing Receivable, Allowance for Credit Loss, Writeoff	0	0		0
Residential Portfolio Segment [Member]
Loans and Leases Receivable, Gross, Total	$ 119,493,617			$ 121,327,761	$ 119,493,617
Financing Receivable, Number of Loans, Nonaccrual Status	1			2
Financing Receivable, Nonaccrual	$ 31,500			$ 220,967
Impaired Financing Receivable, Related Allowance	$ 0			$ 0
Number of Loans Classified as TDR	1			1
Financing Receivable, Troubled Debt Restructuring	$ 42,005			$ 44,733
Financing Receivable, Allowance for Credit Loss, Writeoff	18,970	$ 0		0
Commercial Real Estate and Residential Loans Classified As TDR [Member]
Financing Receivable, Allowance for Credit Loss, Writeoff			$ 0
SBA CARES Act Paycheck Protection Program [Member] | Commercial Portfolio Segment [Member]
Loans and Leases Receivable, Gross, Total	26,500,000			$ 31,100,000
Financing Receivable, Loans Originated Amount	22,000,000
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums, Total	$ 1,037,000

Note 4 - Loans - Major Categori

Note 4 - Loans - Major Categories of Loans (Details) - USD ($)	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Loans	$ 521,960,623	$ 521,960,623	$ 525,911,047
Allowance for loan losses	3,404,168		3,296,538
Deferred origination fees net of costs	1,200,121		923,995
Loans and Leases Receivable, Net Amount, Total	517,356,334		521,690,514
Commercial Real Estate Portfolio Segment [Member]
Loans	319,322,780	319,322,780	309,284,811
Construction and Land Development [Member]
Loans	31,411,527	31,411,527	33,641,916
Residential Portfolio Segment [Member]
Loans	119,493,617	119,493,617	121,327,761
Commercial Portfolio Segment [Member]
Loans	51,330,242	51,330,242	61,368,105
Consumer Portfolio Segment [Member]
Loans	$ 402,457	$ 402,457	$ 288,454

Note 4 - Loans - Non-accrual Lo

Note 4 - Loans - Non-accrual Loans (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Nonaccrual loans	$ 4,419,504	$ 4,628,796
Commercial Real Estate Portfolio Segment [Member]
Nonaccrual loans	4,388,004	4,407,829
Residential Portfolio Segment [Member]
Nonaccrual loans	$ 31,500	$ 220,967

Note 4 - Loans - Past Due Loans

Note 4 - Loans - Past Due Loans (Details) - USD ($)	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Loans	$ 521,960,623	$ 521,960,623	$ 525,911,047
Loans, 90 days past due and still accruing		0	0
Financial Asset, 30 to 59 Days Past Due [Member]
Loans		0	207,247
Financial Asset, 60 to 89 Days Past Due [Member]
Loans		0	0
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans		31,500	220,967
Financial Asset, Past Due [Member]
Loans		31,500	428,214
Financial Asset, Not Past Due [Member]
Loans		521,929,123	525,482,833
Commercial Real Estate Portfolio Segment [Member]
Loans	319,322,780	319,322,780	309,284,811
Loans, 90 days past due and still accruing		0	0
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Loans		0	182,656
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Loans		0	0
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans		0	0
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Loans		0	182,656
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Loans		319,322,780	309,102,155
Construction and Land Development [Member]
Loans	31,411,527	31,411,527	33,641,916
Loans, 90 days past due and still accruing		0	0
Construction and Land Development [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Loans		0	0
Construction and Land Development [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Loans		0	0
Construction and Land Development [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans		0	0
Construction and Land Development [Member] | Financial Asset, Past Due [Member]
Loans		0	0
Construction and Land Development [Member] | Financial Asset, Not Past Due [Member]
Loans		31,411,527	33,641,916
Residential Portfolio Segment [Member]
Loans	119,493,617	119,493,617	121,327,761
Loans, 90 days past due and still accruing		0	0
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Loans		0	24,591
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Loans		0	0
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans		31,500	220,967
Residential Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Loans		31,500	245,558
Residential Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Loans		119,462,117	121,082,203
Commercial Portfolio Segment [Member]
Loans	51,330,242	51,330,242	61,368,105
Loans, 90 days past due and still accruing		0	0
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Loans		0	0
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Loans		0	0
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans		0	0
Commercial Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Loans		0	0
Commercial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Loans		51,330,242	61,368,105
Consumer Portfolio Segment [Member]
Loans	$ 402,457	402,457	288,454
Loans, 90 days past due and still accruing		0	0
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Loans		0	0
Consumer Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Loans		0	0
Consumer Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans		0	0
Consumer Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Loans		0	0
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Loans		$ 402,457	$ 288,454

Note 4 - Loans - Impaired Loans

Note 4 - Loans - Impaired Loans (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Unpaid Contractual Principal Balance	$ 6,651,511	$ 6,704,878
Recorded Investment With No Allowance	6,651,511	6,704,878
Recorded Investment With Allowance	0	0
Total Recorded Investment	6,651,511	6,704,878
Related Allowance	0	0
Average Recorded Investment	6,678,195	4,878,703
Interest Recognized	57,036	347,709
Commercial Real Estate Portfolio Segment [Member]
Unpaid Contractual Principal Balance	6,609,506	6,660,145
Recorded Investment With No Allowance	6,609,506	6,660,145
Recorded Investment With Allowance	0	0
Total Recorded Investment	6,609,506	6,660,145
Related Allowance	0	0
Average Recorded Investment	6,634,826	4,448,343
Interest Recognized	56,179	345,570
Construction and Land Development [Member]
Unpaid Contractual Principal Balance	0	0
Recorded Investment With No Allowance	0	0
Recorded Investment With Allowance	0	0
Total Recorded Investment	0	0
Related Allowance	0	0
Average Recorded Investment	0	0
Interest Recognized	0	0
Residential Portfolio Segment [Member]
Unpaid Contractual Principal Balance	42,005	44,733
Recorded Investment With No Allowance	42,005	44,733
Recorded Investment With Allowance	0	0
Total Recorded Investment	42,005	44,733
Related Allowance	0	0
Average Recorded Investment	43,369	430,360
Interest Recognized	$ 857	$ 2,139

Note 4 - Loans - Loans by Credi

Note 4 - Loans - Loans by Credit Grade (Details) - USD ($)	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020
Loans	$ 521,960,623	$ 521,960,623	$ 525,911,047
Excellent [Member]
Loans	26,285,254		32,138,072
Above Average [Member]
Loans	2,808,556		3,147,251
Average [Member]
Loans	157,802,357		173,120,387
Acceptable [Member]
Loans	187,420,613		158,290,924
Pass [Member]
Loans	126,781,350		139,519,909
Special Mention [Member]
Loans	7,542,412		5,951,177
Substandard [Member]
Loans	13,303,669		13,732,062
Doubtful [Member]
Loans	16,412		11,265
Commercial Real Estate Portfolio Segment [Member]
Loans	319,322,780	319,322,780	309,284,811
Commercial Real Estate Portfolio Segment [Member] | Excellent [Member]
Loans	0		0
Commercial Real Estate Portfolio Segment [Member] | Above Average [Member]
Loans	1,678,287		2,010,472
Commercial Real Estate Portfolio Segment [Member] | Average [Member]
Loans	87,503,664		96,178,011
Commercial Real Estate Portfolio Segment [Member] | Acceptable [Member]
Loans	113,377,554		87,860,036
Commercial Real Estate Portfolio Segment [Member] | Pass [Member]
Loans	103,216,843		108,045,730
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member]
Loans	5,700,716		5,951,177
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member]
Loans	7,845,716		9,239,385
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member]
Loans	0		0
Construction and Land Development [Member]
Loans	31,411,527	31,411,527	33,641,916
Construction and Land Development [Member] | Excellent [Member]
Loans	0		0
Construction and Land Development [Member] | Above Average [Member]
Loans	0		0
Construction and Land Development [Member] | Average [Member]
Loans	5,758,191		2,962,300
Construction and Land Development [Member] | Acceptable [Member]
Loans	11,984,373		15,944,499
Construction and Land Development [Member] | Pass [Member]
Loans	8,893,951		13,168,844
Construction and Land Development [Member] | Special Mention [Member]
Loans	1,841,696		0
Construction and Land Development [Member] | Substandard [Member]
Loans	2,933,316		1,566,273
Construction and Land Development [Member] | Doubtful [Member]
Loans	0		0
Residential Portfolio Segment [Member]
Loans	119,493,617	119,493,617	121,327,761
Residential Portfolio Segment [Member] | Excellent [Member]
Loans	49,334		36,285
Residential Portfolio Segment [Member] | Above Average [Member]
Loans	902,490		1,026,824
Residential Portfolio Segment [Member] | Average [Member]
Loans	57,430,049		63,811,389
Residential Portfolio Segment [Member] | Acceptable [Member]
Loans	48,605,991		40,947,548
Residential Portfolio Segment [Member] | Pass [Member]
Loans	9,981,116		12,579,311
Residential Portfolio Segment [Member] | Special Mention [Member]
Loans	0		0
Residential Portfolio Segment [Member] | Substandard [Member]
Loans	2,524,637		2,926,404
Residential Portfolio Segment [Member] | Doubtful [Member]
Loans	0		0
Commercial Portfolio Segment [Member]
Loans	51,330,242	51,330,242	61,368,105
Commercial Portfolio Segment [Member] | Excellent [Member]
Loans	26,227,641		32,088,058
Commercial Portfolio Segment [Member] | Above Average [Member]
Loans	0		0
Commercial Portfolio Segment [Member] | Average [Member]
Loans	6,978,988		10,037,516
Commercial Portfolio Segment [Member] | Acceptable [Member]
Loans	13,448,027		13,532,170
Commercial Portfolio Segment [Member] | Pass [Member]
Loans	4,675,586		5,710,361
Commercial Portfolio Segment [Member] | Special Mention [Member]
Loans	0		0
Commercial Portfolio Segment [Member] | Substandard [Member]
Loans	0		0
Commercial Portfolio Segment [Member] | Doubtful [Member]
Loans	0		0
Consumer Portfolio Segment [Member]
Loans	402,457	$ 402,457	288,454
Consumer Portfolio Segment [Member] | Excellent [Member]
Loans	8,279		13,729
Consumer Portfolio Segment [Member] | Above Average [Member]
Loans	227,779		109,955
Consumer Portfolio Segment [Member] | Average [Member]
Loans	131,465		131,171
Consumer Portfolio Segment [Member] | Acceptable [Member]
Loans	4,668		6,671
Consumer Portfolio Segment [Member] | Pass [Member]
Loans	13,854		15,663
Consumer Portfolio Segment [Member] | Special Mention [Member]
Loans	0		0
Consumer Portfolio Segment [Member] | Substandard [Member]
Loans	0		0
Consumer Portfolio Segment [Member] | Doubtful [Member]
Loans	$ 16,412		$ 11,265

Note 4 - Loans - Allowance for

Note 4 - Loans - Allowance for Loan Losses (Details) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Allowance for loan losses	$ 3,296,538	$ 2,593,715	$ 2,593,715
Provision for loan losses	100,000	475,000	625,000
Charge offs	(18,970)	0	0
Recoveries	26,600	67,997	77,823
Allowance for loan losses	3,404,168	3,136,712	3,296,538
Allowance for loan losses ending balance evaluated for impairment individually	0	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	3,404,168	3,136,712	3,296,538
Outstanding loan balances evaluated for impairment individually	6,651,511	2,551,638	6,875,475
Outstanding loan balances evaluated for impairment purchase credit impaired	517,356,334		521,690,514
Outstanding loan balances evaluated for impairment collectively	513,253,390	385,522,838	516,722,512
Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0	0
Outstanding loan balances evaluated for impairment purchase credit impaired	2,055,722	0	2,313,060
Commercial Real Estate Portfolio Segment [Member]
Allowance for loan losses	2,230,129	1,763,861	1,763,861
Provision for loan losses	373,796	396,409	418,806
Charge offs	0	0	0
Recoveries	3,500	44,962	47,462
Allowance for loan losses	2,607,425	2,205,232	2,230,129
Allowance for loan losses ending balance evaluated for impairment individually	0	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	2,607,425	2,205,232	2,230,129
Outstanding loan balances evaluated for impairment individually	6,609,506	2,502,296	6,660,245
Outstanding loan balances evaluated for impairment collectively	312,713,274	233,437,877	302,473,113
Commercial Real Estate Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0	0
Outstanding loan balances evaluated for impairment purchase credit impaired	0	0	151,453
Construction and Land Development [Member]
Allowance for loan losses	201,692	192,828	192,828
Provision for loan losses	(67,611)	22,302	(5,536)
Charge offs	0	0	0
Recoveries	8,100	7,200	14,400
Allowance for loan losses	142,181	222,330	201,692
Allowance for loan losses ending balance evaluated for impairment individually	0	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	142,181	222,330	201,692
Outstanding loan balances evaluated for impairment individually	0	0	0
Outstanding loan balances evaluated for impairment collectively	29,867,218	20,550,954	32,075,742
Construction and Land Development [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0	0
Outstanding loan balances evaluated for impairment purchase credit impaired	1,544,309	0	1,566,174
Residential Portfolio Segment [Member]
Allowance for loan losses	644,639	478,124	478,124
Provision for loan losses	(148,627)	55,640	166,515
Charge offs	(18,970)	0	0
Recoveries	0	0	0
Allowance for loan losses	477,042	533,764	644,639
Allowance for loan losses ending balance evaluated for impairment individually	0	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	477,042	533,764	644,639
Outstanding loan balances evaluated for impairment individually	42,005	49,342	215,230
Outstanding loan balances evaluated for impairment collectively	118,940,199	75,045,229	120,517,098
Residential Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0	0
Outstanding loan balances evaluated for impairment purchase credit impaired	511,413	0	595,433
Commercial Portfolio Segment [Member]
Allowance for loan losses	111,390	107,782	107,782
Provision for loan losses	(18,184)	(7,709)	(12,353)
Charge offs	0	0	0
Recoveries	15,000	15,835	15,961
Allowance for loan losses	108,206	115,908	111,390
Allowance for loan losses ending balance evaluated for impairment individually	0	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	108,206	115,908	111,390
Outstanding loan balances evaluated for impairment individually	0	0	0
Outstanding loan balances evaluated for impairment collectively	51,330,242	56,272,588	61,368,105
Commercial Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0	0
Outstanding loan balances evaluated for impairment purchase credit impaired	0	0	0
Consumer Portfolio Segment [Member]
Allowance for loan losses	2,138	4,133	4,133
Provision for loan losses	450	(740)	(1,995)
Charge offs	0	0	0
Recoveries	0	0	0
Allowance for loan losses	2,588	3,393	2,138
Allowance for loan losses ending balance evaluated for impairment individually	0	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	2,588	3,393	2,138
Outstanding loan balances evaluated for impairment individually	0	0	0
Outstanding loan balances evaluated for impairment collectively	402,457	216,190	288,454
Consumer Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0	0
Outstanding loan balances evaluated for impairment purchase credit impaired	0	0	0
Unallocated Financing Receivables [Member]
Allowance for loan losses	106,550	46,987	46,987
Provision for loan losses	(39,824)	9,098	59,563
Charge offs	0	0	0
Recoveries	0	0	0
Allowance for loan losses	66,726	56,085	106,550
Allowance for loan losses ending balance evaluated for impairment individually	0	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	66,726	56,085	106,550
Outstanding loan balances evaluated for impairment individually	0	0	0
Outstanding loan balances evaluated for impairment collectively	0	0	0
Unallocated Financing Receivables [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0	0
Outstanding loan balances evaluated for impairment purchase credit impaired	$ 0	$ 0	$ 0

Note 4 - Loans - Activity for A

Note 4 - Loans - Activity for Accretable Yield of Purchased Loans (Details)	6 Months Ended
	Jun. 30, 2021USD ($)
Balance at December 31, 2020	$ 2,250,232
Acquired during the year	0
Accretion	409,056
Adjustments	0
Balance at June 30, 2021	$ 1,841,176

Note 5 - Goodwill and Other I_3

Note 5 - Goodwill and Other Intangibles (Details Textual) - Core Deposits [Member]	6 Months Ended
	Jun. 30, 2021USD ($)
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 5 - Goodwill and Other I_4

Note 5 - Goodwill and Other Intangibles - Changes in Goodwill and Other Intangibles (Details)	6 Months Ended
	Jun. 30, 2021USD ($)
Balance	$ 6,978,208
Balance	7,059,408
Acquired during the year, goodwill	0
Acquired during the year	0
Amortization	(4,134)
Balance	6,978,208
Balance	7,055,274
Core Deposits [Member]
Balance, other intangible	81,200
Acquired during the year, other intangible	0
Amortization, other intangible	(4,134)
Balance, other intangible	$ 77,066

Note 6 - Lease Commitments (Det

Note 6 - Lease Commitments (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Operating Lease, Cost	$ 101,351	$ 94,134
Operating Lease, Weighted Average Remaining Lease Term (Year)	8 years
Operating Lease, Weighted Average Discount Rate, Percent	3.25%
Operating Lease, Payments	$ 85,876	$ 76,920

Note 6 - Lease Commitments - Op

Note 6 - Lease Commitments - Operating Lease Assets and Liabilities (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Operating lease liabilities	$ 1,384,716
Other Assets [Member]
Operating lease right of use asset	1,168,107	$ 1,242,832
Other Liabilities [Member]
Operating lease liabilities	$ 1,384,716	$ 1,443,966

Note 6 - Lease Commitments - _2

Note 6 - Lease Commitments - Operating Lease Liabilities (Details)	Jun. 30, 2021USD ($)
2021	$ 107,384
2022	221,497
2023	228,531
2024	234,910
2025	241,483
Thereafter	899,195
Total undiscounted cash flow	1,933,000
Discount	(548,284)
Lease liabilities	$ 1,384,716

Note 7 - Capital Standards (Det

Note 7 - Capital Standards (Details Textual)	Jun. 30, 2021	Dec. 31, 2020
Banking Regulation, Common Equity Tier One Risk-Based Capital Ratio, Well Capitalized, Minimum	0.065	0.0650
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets	0.08	0.0800
Capital Required to be Well Capitalized to Risk Weighted Assets	0.10	0.1000
Tier One Leverage Capital Required to be Well Capitalized to Average Assets	0.05	0.0500

Note 7 - Capital Standards - Ca

Note 7 - Capital Standards - Capital Requirements (Details) $ in Thousands	Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)
Capital	$ 66,196	$ 63,400
Capital to Risk Weighted Assets	0.1258	0.1262
Capital Required for Capital Adequacy	$ 55,251	$ 52,732
Capital Required for Capital Adequacy to Risk Weighted Assets	0.1050	0.1050
Capital Required to be Well Capitalized	$ 52,620	$ 50,221
Capital Required to be Well Capitalized to Risk Weighted Assets	0.10	0.1000
Tier One Risk Based Capital	$ 62,792	$ 60,104
Tier One Risk Based Capital to Risk Weighted Assets	0.1193	0.1197
Tier One Risk Based Capital Required for Capital Adequacy	$ 44,727	$ 42,688
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets	0.0850	0.0850
Tier One Risk Based Capital Required to be Well Capitalized	$ 42,096	$ 40,177
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets	0.08	0.0800
Common Equity Tier One Capital	$ 62,792	$ 60,104
Common Equity Tier One Capital Ratio	0.1193	0.1197
Common Equity Tier One Capital Required for Capital Adequacy	$ 36,834	$ 35,155
Common Equity Tier One Capital Required for Capital Adequacy Ratio	0.0700	0.0700
Common Equity Tier One Capital Required to be Well-Capitalized	$ 34,203	$ 32,644
Common Equity Tier One Capital Required to be Well Capitalized Ratio	0.065	0.0650
Tier One Leverage Capital	$ 62,792	$ 60,104
Tier One Leverage Capital to Average Assets	0.0900	0.0905
Tier One Leverage Capital Required for Capital Adequacy	$ 27,896	$ 26,569
Tier One Leverage Capital Required for Capital Adequacy to Average Assets	0.0400	0.0400
Tier One Leverage Capital Required to be Well Capitalized	$ 34,870	$ 33,211
Tier One Leverage Capital Required to be Well Capitalized to Average Assets	0.05	0.0500

Note 8 - Fair Value (Details Te

Note 8 - Fair Value (Details Textual)	6 Months Ended
	Jun. 30, 2021
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 8 - Fair Value - Summarize

Note 8 - Fair Value - Summarizes Financial Assets Measured at Fair Value (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Fair value, available for sale	$ 98,251,607	$ 54,477,286
Fair Value, Recurring [Member]
Fair value, available for sale	98,251,607	54,477,286
Mutual fund	547,914	552,566
Fair Value, Nonrecurring [Member]
Other real estate owned	1,411,605	1,411,605
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	0	0
Mutual fund	547,914	552,566
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member]
Other real estate owned	0	0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	98,251,607	54,477,286
Mutual fund	0	0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member]
Other real estate owned	0	0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	0	0
Mutual fund	0	0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member]
Other real estate owned	1,411,605	1,411,605
US States and Political Subdivisions Debt Securities [Member]
Fair value, available for sale	770,977	986,532
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	770,977	986,532
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	0	0
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	770,977	986,532
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	0	0
SBA Pools [Member]
Fair value, available for sale	1,657,088	1,783,807
SBA Pools [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	1,657,088	1,783,807
SBA Pools [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	0	0
SBA Pools [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	1,657,088	1,783,807
SBA Pools [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	0	0
Corporate Debt Securities [Member]
Fair value, available for sale	8,074,586	6,797,431
Corporate Debt Securities [Member] | Fair Value, Nonrecurring [Member]
Fair value, available for sale	8,074,586	6,797,431
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member]
Fair value, available for sale	0	0
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member]
Fair value, available for sale	8,074,586	6,797,431
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member]
Fair value, available for sale	0	0
Collateralized Mortgage Backed Securities [Member]
Fair value, available for sale	87,748,956	44,909,516
Collateralized Mortgage Backed Securities [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	87,748,956	44,909,516
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	0	0
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	87,748,956	44,909,516
Collateralized Mortgage Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	$ 0	$ 0

Note 8 - Fair Value - Estimated

Note 8 - Fair Value - Estimated Fair Value of Financial Instruments (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Fair value, held to maturity	$ 22,357,920	$ 24,244,786
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	32,456,150	40,975,670
Noninterest-bearing deposits	126,712,827	103,155,113
Securities sold under repurchase agreements	13,686,564	24,753,972
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Certificates of deposit in other banks	350,000	850,000
Accrued interest receivable	1,777,967	2,057,491
Fair value, held to maturity	21,401,599	23,078,519
Mortgage loans held for sale	1,317,820	1,673,350
Restricted stock	547,914	900,500
Bank owned life insurance	15,150,383	11,297,342
Interest-bearing deposits	485,417,230	470,246,434
Federal Home Loan Bank advances	5,000,000	5,000,000
Long-term debt	16,976,093	16,973,280
Accrued interest payable	154,780	409,622
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Loans, net	517,356,334	521,690,514
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	32,456,150	40,975,670
Noninterest-bearing deposits	126,712,827	103,155,113
Securities sold under repurchase agreements	13,686,564	24,753,972
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Certificates of deposit in other banks	350,000	850,000
Accrued interest receivable	1,777,967	2,057,491
Fair value, held to maturity	22,357,920	24,244,786
Mortgage loans held for sale	1,342,904	1,705,781
Restricted stock	547,914	900,500
Bank owned life insurance	15,150,383	11,297,342
Interest-bearing deposits	486,656,230	474,096,434
Federal Home Loan Bank advances	5,049,000	5,136,000
Long-term debt	17,298,274	17,018,416
Accrued interest payable	154,780	409,622
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Loans, net	$ 525,395,623	$ 527,132,047

Note 9 - Earnings Per Share - B

Note 9 - Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Net income	$ 2,032,219	$ 1,036,055	$ 4,061,794	$ 1,879,362
Weighted average shares outstanding (in shares)	3,011,927	2,975,005	3,011,593	2,974,512
Earnings per share - basic and diluted (in dollars per share)	$ 0.67	$ 0.35	$ 1.35	$ 0.63

Note 10 - Retirement Plans (Det

Note 10 - Retirement Plans (Details Textual)	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 64,824	$ 42,941	$ 141,748	$ 109,590
Number of Employees Covered by Life Insurance Policy	12		12
Other Postretirement Benefits Cost (Reversal of Cost)	$ 1,661	1,589	$ 3,322	3,178
Employee Benefits and Share-based Compensation	438,133	$ 359,450	911,021	$ 806,554
Supplemental Employee Retirement Plan [Member]
Number of Employees Participating in Plan		3		3
Employee Benefits and Share-based Compensation	$ 42,000	$ 51,300	$ 84,000	$ 102,600
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%