Farmers and Merchants Bancshares (FMFG) 10-K 11 Mar 22 2021 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 07, 2022	Jun. 30, 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	FY
Document Fiscal Year Focus	2021
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 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
Title of 12(g) Security	Common stock, par value $.01 per share
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
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 Public Float			$ 62,181,414
Entity Common Stock, Shares Outstanding		3,037,137
Auditor Name	YOUNT, HYDE & BARBOUR, P.C.
Auditor Location	Richmond, Virginia
Auditor Firm ID	613
ICFR Auditor Attestation Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Cash and due from banks	$ 25,258,932	$ 39,898,557
Federal funds sold and other interest-bearing deposits	1,203,174	1,077,113
Cash and cash equivalents	26,462,106	40,975,670
Certificates of deposit in other banks	350,000	850,000
Securities available for sale, at fair value	149,237,916	54,477,286
Securities held to maturity, at cost	21,851,975	23,078,519
Equity security, at fair value	543,605	552,566
Restricted stock, at cost	675,400	900,500
Mortgage loans held for sale	126,500	1,673,350
Loans, less allowance for loan losses of $3,650,268 and $3,296,538	482,011,334	521,690,514
Premises and equipment, net	6,259,421	7,736,556
Accrued interest receivable	1,609,063	2,057,491
Deferred income taxes, net	2,177,450	1,219,668
Other real estate owned, net	1,242,365	1,411,605
Bank owned life insurance	11,556,163	11,297,342
Goodwill and other intangibles, net	7,051,080	7,059,408
Other assets	5,522,877	2,336,607
Assets, Total	716,677,255	677,317,082
Deposits:
Noninterest-bearing	124,175,615	103,155,113
Interest-bearing	502,239,055	470,246,434
Total deposits	626,414,670	573,401,547
Amount	5,414,026	24,753,972
Federal Home Loan Bank of Atlanta advances	5,000,000	5,000,000
Long-term debt, net of issuance costs	16,978,905	16,973,280
Accrued interest payable	295,910	409,622
Other liabilities	5,952,286	5,049,178
Liabilities, Total	660,055,797	625,587,599
Commitments and contingencies
Stockholders' equity:
Common stock, par value $.01 per share, authorized 5,000,000 shares; issued and outstanding 3,037,137 in 2021 and 3,011,255 shares in 2020	30,372	30,113
Additional paid-in capital	28,857,422	28,294,139
Retained earnings	29,128,600	22,698,954
Accumulated other comprehensive (loss) income	(1,394,936)	706,277
Stockholders' Equity Attributable to Parent, Ending Balance	56,621,458	51,729,483
Liabilities and Equity, Total	$ 716,677,255	$ 677,317,082

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Allowance for loan losses	$ 3,650,268	$ 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)	3,037,137	3,011,255
Common stock, share outstanding (in shares)	3,037,137	3,011,255

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Interest income:
Loans, including fees	$ 23,491,614	$ 19,291,162
Investment securities - taxable	1,511,970	770,394
Investment securities - tax exempt	611,323	625,099
Federal funds sold and other interest earning assets	65,496	76,525
Total interest income	25,680,403	20,763,180
Interest expense:
Deposits	1,997,873	3,128,994
Securities sold under repurchase agreements	44,628	107,318
Federal Home Loan Bank advances and other borrowings	762,798	222,365
Total interest expense	2,805,299	3,458,677
Net interest income	22,875,104	17,304,503
Provision for loan losses	330,000	625,000
Net interest income after provision for loan losses	22,545,104	16,679,503
Noninterest income:
Mortgage banking income	910,513	1,024,937
Bank owned life insurance income	229,966	188,143
Fair value adjustment of equity security	(15,354)	10,513
Gain on call of debt security	9,190	0
Other	307,513	273,096
Total noninterest income	2,165,914	2,072,119
Noninterest expense:
Salaries	7,214,871	6,137,050
Employee benefits	1,718,465	1,658,651
Occupancy	948,757	758,357
Furniture and equipment	775,829	840,890
Professional services	415,642	424,813
Automated teller machine and debit card expenses	352,130	278,989
Federal Deposit Insurance Corporation premiums	306,123	201,714
Advertising	233,358	237,909
Other real estate owned	190,248	34,861
Acquisition	0	3,236,817
Other	1,973,176	1,772,357
Total noninterest expense	14,128,599	15,582,408
Income before income taxes	10,582,419	3,169,214
Income taxes	2,432,813	487,211
Net income	$ 8,149,606	$ 2,682,003
Earnings per share - basic and diluted (in dollars per share)	$ 2.70	$ 0.90
Deposit Account [Member]
Noninterest income:
Noninterest revenue	$ 724,086	$ 575,430

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Net income	$ 8,149,606	$ 2,682,003
Securities available for sale
Net unrealized gain (loss) arising during the period	(2,889,734)	915,604
Reclassification adjustment for realized gains included in net income	(9,190)	0
Total unrealized gain (loss) on investment securities available for sale	(2,898,924)	915,604
Income tax (expense) benefit	797,711	(251,951)
Total other comprehensive income (loss)	(2,101,213)	663,653
Total comprehensive income	$ 6,048,393	$ 3,345,656

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 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	2,682,003	0	2,682,003
Other comprehensive income (loss)	0	0	0	663,653	663,653
Cash dividends	$ 0	0	(1,551,210)	0	(1,551,210)
Dividends reinvested (in shares)	37,236
Dividends reinvested	$ 373	481,148	0	0	481,521
Balance (in shares) at Dec. 31, 2020	3,011,255
Balance at Dec. 31, 2020	$ 30,113	28,294,139	22,698,954	706,277	51,729,483
Net income	0	0	8,149,606	0	8,149,606
Other comprehensive income (loss)	0	0	0	(2,101,213)	(2,101,213)
Cash dividends	$ 0	0	(1,719,960)	0	(1,719,960)
Dividends reinvested (in shares)	25,882
Dividends reinvested	$ 259	563,283	0	0	563,542
Balance (in shares) at Dec. 31, 2021	3,037,137
Balance at Dec. 31, 2021	$ 30,372	$ 28,857,422	$ 29,128,600	$ (1,394,936)	$ 56,621,458

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Retained Earnings [Member]
Cash dividends, per share (in dollars per share)	$ 0.57	$ 0.52

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities
Net income	$ 8,149,606	$ 2,682,003
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	470,943	415,781
Provision for loan losses	330,000	625,000
Amortization of right of use asset	17,053	34,058
Gain on sale of premises and equipment	(44,510)	0
Write down of other real estate owned	169,240	0
Gain on premium call of debt security	(9,190)	0
Equity security dividends reinvested	(6,393)	(9,732)
Fair value adjustment on equity security	15,354	(10,513)
Gain on sale of SBA loans	(6,917)	(125,520)
Deferred income taxes	(160,070)	(151,331)
Amortization of debt issuance costs	5,625	1,406
Amortization of premiums and accretion of discounts, net	(7,602)	288,961
Bank owned life insurance cash surrender value	(229,966)	(188,143)
Increase (decrease) in
Deferred loan fees and costs, net	(204,430)	531,441
Accrued interest payable	(113,712)	63,408
Other liabilities	1,035,504	163,897
Decrease (increase) in
Mortgage loans held for sale	1,546,850	311,845
Accrued interest receivable	448,428	(200,455)
Other assets	298,917	20,164
Cash provided by operating activities	11,704,730	4,452,270
Cash flows from investing activities
Proceeds from maturity and call of securities, Available for sale	31,327,354	22,224,763
Proceeds from maturity and call of securities, Held to maturity	2,171,420	1,956,420
Proceeds from sale of securities, Available for sale	0	2,025,000
Purchase of securities, Available for sale	(129,676,971)	(28,841,213)
Purchase of securities, Held to maturity	(842,062)	(5,470,258)
Redemption of certificates of deposit	500,000	0
Cash paid for the acquisition of Carroll Bancorp, Inc., net of cash acquired	0	(19,366,118)
Loans made to customers, net of principal collected	39,861,460	(19,478,136)
Proceeds from sale of SBA loans	61,595	1,233,270
Redemption of restricted stock	225,100	402,400
Proceeds from sale of premises and equipment	1,387,613	0
Purchase of bank owned life insurance	(28,855)	0
Purchase of annuity	(3,671,145)	0
Purchases of premises, equipment and software	(300,402)	(387,111)
Cash used in investing activities	(58,984,893)	(45,700,983)
Cash flows from financing activities
Noninterest-bearing deposits	21,020,502	21,273,083
Interest-bearing deposits	32,242,461	30,131,909
Securities sold under repurchase agreements	(19,339,946)	13,795,854
Federal Home Loan Bank of Atlanta advances	0	(8,000,000)
Long-term debt	0	16,971,874
Dividends paid, net of reinvestments	(1,156,418)	(1,069,689)
Cash provided by financing activities	32,766,599	73,103,031
Net increase (decrease) in cash and cash equivalents	(14,513,564)	31,854,318
Cash and cash equivalents at beginning of period	40,975,670	9,121,352
Cash and cash equivalents at end of period	26,462,106	40,975,670
Supplementary disclosure of cash flow information:
Cash paid during the period for interest	3,154,898	3,521,625
Cash paid during the period for income taxes	1,605,500	930,435
Net unrealized gain(loss) on securities available for sale	$ (2,898,924)	$ 915,604

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. Summary of Significant Accounting Policies The accounting and reporting policies reflected in the financial statements conform to accounting principles generally accepted in the United States of America and to general practices within the banking industry. Management makes estimates and assumptions that affect the reported amounts of assets, liabilities, and disclosures of commitments and contingent liabilities at the balance sheet date, and revenues and expenses during the year. These estimates and assumptions may Principles of consolidation The consolidated financial statements include the accounts of Farmers and Merchants Bancshares, Inc. and its wholly owned subsidiaries, Farmers and Merchants Bank (the “Bank”), and Series Protected Cell FCB- 4 one October 1, 2020, December 31, 2021 2020 Business The Bank provides banking services to individuals and businesses located in Baltimore County, Maryland, Carroll County, Maryland and surrounding areas of northern Maryland. The Insurance Subsidiary is a captive insurance entity that provides insurance coverage for the Bank. Reliable Community Financial Services, Inc. is licensed to provide a wide range of investment and insurance products to its customers, but is inactive. Reclassifications Certain reclassifications have been made to the 2020 no Cash and cash equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, money market funds, and federal funds sold. Generally, federal funds are purchased and sold for one Comprehensive income Comprehensive income includes net income and the unrealized gains or losses on investment securities available for sale, net of income taxes. Investment securities As securities are purchased, management determines if the securities should be classified as held to maturity or available for sale. Securities that management has the intent and ability to hold to maturity are recorded at amortized cost, which is cost adjusted for amortization of premiums and accretion of discounts. Discounts are accreted through maturity. Premiums are amortized through the earliest call date. Securities held to meet liquidity needs or that may Equity security at fair value The Company owns a mutual fund that is measured at fair value with changes in fair value recognized in noninterest income. Restricted stock, at cost Restricted stock consists of Federal Home Loan Bank of Atlanta (the “FHLB”) stock, Community Bankers Bank (“CBB”) stock, and Atlantic Community Bankers Bank (“ACBB”) stock. As a member of the FHLB, the Bank is required to purchase FHLB stock in an amount that is based on the Bank’s total assets. Additional stock is purchased and redeemed based on the outstanding FHLB advances to the Bank. CBB and ACBB require its correspondent banking institutions to hold stock as a condition of membership. The restricted investment in bank stocks is carried at cost. On a quarterly basis, management evaluates the bank stocks for impairment based on assessment of the ultimate recoverability of cost rather than by recognizing temporary declines in value. The determination of whether a decline affects the ultimate recoverability of cost is influenced by criteria such as operating performance, liquidity, funding and capital positions, stock repurchase history, dividend history, and impact of legislative and regulatory changes. Loans and allowance for loan losses Loans are stated at the current amount of unpaid principal, adjusted for deferred origination costs, deferred origination fees, 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 and estimable losses on existing loans and other extensions of credit that may three not The allowances established for probable and estimable 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 borrower’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 Loans acquired through business combinations that are designated as purchase credit impaired loans because they meet the specific criteria of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 310 30, 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 difference. These loans are accounted for under ASC 310 30. Loans acquired through business combinations that do not 310 30 310 20, no no Mortgage loans held for sale and mortgage banking income Mortgage loans held for sale are carried at the lower of aggregate cost or fair value based on the current fair value of each outstanding loan. Sales of loans are recorded when the proceeds are received, with any gain or loss recorded in mortgage banking income. The Company sells its mortgage loans to third no third not third Premises and equipment Land is carried at cost. Premises and equipment are recorded at cost less accumulated depreciation and amortization. Depreciation on buildings and equipment is computed over the estimated useful lives of the assets using the straight-line method. Leasehold improvements are amortized using the straight-line method over the term of the lease or the estimated useful lives of the asset, whichever is shorter. Other real estate owned Real estate acquired through foreclosure or by deed in lieu of foreclosure is recorded at fair value less estimated costs to sell on the date acquired establishing a new cost basis. Losses incurred at the time of acquisition of the property are charged to the allowance for loan losses. Subsequent reductions in the estimated value of the property are included with any gains or losses on sale in noninterest expense. Bank owned life insurance The Company has purchased life insurance policies on certain key executives. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. Goodwill and other intangible assets Goodwill is calculated as the purchase premium, if any, after adjusting for the fair value of net assets acquired in purchase transactions. Goodwill is not 10 Revenue recognition ASC Topic 606 not 606 Service Charges on Deposit Accounts: Interchange Income Other Service Charges and Fees: Operating leases The Company accounts for lease obligations in accordance with FASB Accounting Standards Update (“ASU”) 2016 02, 842 2016‑02, Advertising costs Advertising costs are expensed in the period incurred and totaled $ 233,358 December 31, 2021 2020, Income taxes The provision for income taxes includes income taxes payable for the current year and deferred income taxes. Deferred tax assets and liabilities are determined based on the difference between the financial statement bases and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. A tax position is recognized as a benefit only if it is “more likely than not” 50% not not” no Per share data Earnings per share are determined by dividing net income by the weighted average number of shares of common stock outstanding, giving retroactive effect to any stock dividends. Weighted average shares were 3,018,112 2021 2020, December 31, 2021 December 31, 2020. Recent accounting pronouncements Management has the responsibility for the selection and use of appropriate accounting policies. The significant accounting policies used by the Company are described in the notes to the consolidated financial statements. The following accounting guidance has been approved by the FASB and would apply to the Company if the Company entered into an applicable activity. In June 2016, 2016‑13, 2019 10 326 815 842 January 1, 2023 third 2022. In March 2020, 2020 04, 848 2020 04 March 12, 2020 December 31, 2022. In August 2021, 2021 06, 205 942 946 No. 33 10786, No. 33 10835, No. 33 10786, No. 33 10835, not 2021 06 The accounting policies adopted by management are consistent with authoritative GAAP and are consistent with those followed by our peers.

Note 2 - Acquisition of Carroll

Note 2 - Acquisition of Carroll Bancorp, Inc.	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Business Combination Disclosure [Text Block]	2. Acquisition of Carroll Bancorp, Inc. Carroll was acquired for $24,807,728. third The following table presents the book values and fair values of the assets, liabilities, and equity of Carroll at the effective time of the Merger: Book value Fair value Cash $ 5,441,610 $ 5,441,610 Certificates of deposit in other banks 750,000 750,000 Securities available for sale 12,863,795 12,922,620 Restricted stock, at cost 926,700 926,700 Loans held for sale 1,702,950 1,743,195 Loans 145,153,100 145,080,950 Premises and equipment 2,619,413 2,684,240 Other real estate owned 1,411,605 1,411,605 Other assets 5,290,717 5,388,546 Core deposit intangible - 83,282 Goodwill - 6,978,208 Total assets $ 176,159,890 $ 183,410,956 Deposits $ 144,896,990 $ 145,513,085 FHLB advances 13,000,000 13,000,000 Other liabilities 95,296 90,143 Total liabilities 157,992,286 158,603,228 Stockholders' equity 18,167,604 24,807,728 Total liabilities and stockholders' equity $ 176,159,890 $ 183,410,956 The determination of fair values of the acquired loans required the Company to make certain estimates about discount rates, future expected cash flows, market conditions and other future events that are highly subjective in nature. Based on such factors as past due status, nonaccrual status, bankruptcy status, and credit risk ratings, the acquired loans were divided into loans with evidence of credit quality deterioration, which are accounted for under ASC 310 30 not 310 20 3 two 2 1 2 16 2 3 The Company recognized a core deposit intangible of $83,282, which is being amortized using a straight-line method over a 10-year amortization period, consistent with expected future cash flows. See footnote 6 2021 2020. The Company recognized a certificate of deposit premium of $616,377, which is being accreted using the interest method based upon the maturity of each certificate of deposit. Accretion of $249,840 and $129,844 were recorded in 2021 2020, Loans acquired from Carroll were measured at fair value at the acquisition date with no 6 2021 2020.

Note 3 - Cash and Cash Equivale

Note 3 - Cash and Cash Equivalents	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Cash and Cash Equivalents Disclosure [Text Block]	3. Cash and Cash Equivalents The Company normally carries balances with other banks that exceed the federally insured limit. The average balance carried in excess of the limit, including unsecured federal funds sold to the same banks, was $ 7,549,531 December 31, 2021 2020, Deposits held in noninterest-bearing transaction accounts are aggregated with any interest-bearing deposits the owner may $250,000. Banks are required to carry noninterest-bearing cash reserves of specified percentages of deposit balances. The Company's normal balances of cash on hand and on deposit with other banks are sufficient to satisfy the reserve requirements.

Note 4 - Investment Securities

Note 4 - Investment Securities	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	4. Investment Securities Debt securities are summarized as follows: Amortized Unrealized Unrealized Fair December 31, 2021 cost gains losses value Available for sale State and municipal $ 753,061 $ 10,437 $ - $ 763,498 SBA pools 1,418,770 1,656 22,664 1,397,762 Corporate bonds 9,225,153 64,595 55,541 9,234,207 Mortgage-backed securities 139,765,445 336,084 2,259,080 137,842,449 $ 151,162,429 $ 412,772 $ 2,337,285 $ 149,237,916 Held to maturity State and municipal $ 21,851,975 $ 1,020,877 $ 67,251 $ 22,805,601 December 31, 2020 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 December 31, 2021 cost value cost value Within one year $ 499,903 $ 505,360 $ - $ - Over one to five years 3,894,465 3,949,948 799,343 812,955 Over five to ten years 5,583,846 5,542,397 2,046,291 2,211,802 Over ten years - - 19,006,341 19,780,844 9,978,214 9,997,705 21,851,975 22,805,601 Mortgage-backed securities and SBA pools, due in monthly installments 141,184,215 139,240,211 - - $ 151,162,429 $ 149,237,916 $ 21,851,975 $ 22,805,601 Securities with a carrying value of $14,307,989 December 31, 2021 2020, The following table sets forth the Company's gross unrealized losses on a continuous basis for investment securities, by category and length of time. December 31, 2021 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 $ 1,324,648 $ 35,720 $ 715,650 $ 31,531 $ 2,040,298 $ 67,251 SBA pools - - 1,133,398 22,664 1,133,398 22,664 Corporate bonds 5,443,886 55,541 - - 5,443,886 55,541 Mortgage-backed securities 117,840,965 2,034,858 4,781,586 224,222 122,622,551 2,259,080 Total $ 124,609,499 $ 2,126,119 $ 6,630,634 $ 278,417 $ 131,240,133 $ 2,404,536 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 December 31, 2021, not December 31, 2021, none In 2021, 1,263,845 9,190 In 2020, three

Note 5 - Related Party Transact

Note 5 - Related Party Transactions	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	5. Related Party Transactions Certain executive officers and directors of the Company, including members of their immediate families and companies in which they are significant owners (more than 10% 2021 2020. not December 31, 2021 2020, 2021 2020 Balance, beginning of year $ 14,558,882 $ 14,551,236 Additions 2,489,000 1,771,200 Amounts collected (3,225,326 ) (1,763,554 ) Balance, end of year $ 13,822,556 $ 14,558,882 Unused lines of credit to related parties totaled $143,000 December 31, 2021 2020, Deposits at the Company from related parties totaled $27,187,933 December 31, 2021 2020, Payments to companies controlled by directors totaled $40,754 2021 2020. On March 31, 2021, one

Note 6 - Loans

Note 6 - Loans	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	6. Loans Major categories of loans at December 31, 2021 2020 2021 2020 Real estate: Commercial $ 319,185,116 $ 309,284,811 Construction and land development 28,221,854 33,641,916 Residential 107,436,033 121,327,761 Commercial 31,182,206 61,368,105 Consumer 355,958 288,454 486,381,167 525,911,047 Less: Allowance for loan losses 3,650,268 3,296,538 Deferred origination fees net of costs 719,565 923,995 $ 482,011,334 $ 521,690,514 Commercial loans in the table above include $9.7 million and $32.1 million of Paycheck Protection Program (“PPP”) loans as of December 31, 2021 December 31, 2020, 100% 2021 2020. 2021, 2020. December 31, 2021, December 31, 2021, 2022. Year-end nonaccrual loans, segregated by class of loans, were as follows: 2021 2020 Real estate: Commercial $ 4,810,965 $ 4,407,829 Residential 31,500 220,967 Commercial 152,449 - Total $ 4,994,914 $ 4,628,796 At December 31, 2021, two one one 2021 December 31, 2021. At December 31, 2020, two 2020 December 31, 2020. An age analysis of past due loans, segregated by class of loans, as of year-end, is as follows: 90 Days Past Due 90 30 - 59 Days 60 - 89 Days or More Total Total Days or More Past Due Past Due Past Due Past Due Current Loans and Accruing December 31, 2021 Real estate: Commercial $ - $ - $ 502,961 $ 502,961 $ 318,682,155 $ 319,185,116 $ - Construction and land development - - - - 28,221,854 28,221,854 - Residential - - 249,161 249,161 107,186,872 107,436,033 217,661 Commercial - - 415,690 415,690 30,766,516 31,182,206 263,241 Consumer - - - - 355,958 355,958 - Total $ - $ - $ 1,167,812 $ 1,167,812 $ 485,213,355 $ 486,381,167 $ 480,902 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 $ - Year-end impaired loans, segregated by class of loans, are set forth in the following table: Unpaid Recorded Recorded Contractual Investment Investment Total Average Principal With No With Recorded Related Recorded Interest Balance Allowance Allowance Investment Allowance Investment Recognized December 31, 2021 Commercial real estate $ 6,820,932 $ 6,317,971 $ 502,961 $ 6,820,932 $ 129,461 $ 6,740,539 $ 125,079 Construction and land development - - - - - - - Residential real estate 39,228 39,228 - 39,228 - 41,981 1,672 Commercial 152,449 - 152,449 152,449 152,449 76,225 69,005 $ 7,012,609 $ 6,357,199 $ 655,410 $ 7,012,609 $ 281,910 $ 6,858,744 $ 195,756 December 31, 2020 Commercial real estate $ 6,660,145 $ 6,660,145 $ - $ 6,660,145 $ - $ 4,372,567 $ 345,570 Residential real estate 44,733 44,733 - 44,733 - 47,935 2,139 $ 6,704,878 $ 6,704,878 $ - $ 6,704,878 $ - $ 4,420,502 $ 347,709 Impaired loans include certain loans that have been modified in TDRs where economic concessions have been granted to borrowers who have experienced or are expected to experience financial difficulties. These concessions typically result from the Company's loss mitigation activities and could include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance, or other actions. Certain TDRs are classified as nonperforming at the time of restructure and may six At December 31, 2021, one $2,009,967 one $39,228 two 2021. At December 31, 2020, two one 2020. three None 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 December 31, 2021, one not December 31, 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 reflect above-average risk. The loans warrant closer scrutiny by management than is routine, due to circumstances affecting the borrower, the borrower's industry, or the overall economic environment. Borrowers may Special Mention A special mention loan has potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may not not Borrowers may may may Substandard A substandard loan is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard loans have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not Borrowers may Doubtful A doubtful loan has all the weaknesses inherent as a substandard loan with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loans by credit grade, segregated by loan type, at year-end, are as follows: Above Pass Special December 31, 2021 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ 1,225,732 $ 73,924,748 $ 146,174,439 $ 82,018,890 $ 3,345,788 $ 12,495,519 $ - $ 319,185,116 Construction and land development - - 3,853,775 12,452,257 9,973,457 1,942,365 - - 28,221,854 Residential 41,152 708,162 46,358,477 48,295,430 9,570,815 - 2,461,997 - 107,436,033 Commercial 9,774,570 - 5,292,721 12,585,396 3,377,070 - 152,449 - 31,182,206 Consumer 5,813 168,037 147,903 2,280 11,298 - - 20,627 355,958 $ 9,821,535 $ 2,101,931 $ 129,577,624 $ 219,509,802 $ 104,951,530 $ 5,288,153 $ 15,109,965 $ 20,627 $ 486,381,167 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 following tables detail activity in the allowance for loan losses by portfolio for the years ended December 31, 2021 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 December 31, 2021 balance losses offs Recoveries balance Individually Impaired Collectively Individually Impaired Collectively Real estate: Commercial $ 2,230,129 $ 241,301 $ - $ 11,500 $ 2,482,930 $ 129,461 $ - $ 2,353,469 $ 6,820,932 $ 56,825 $ 312,307,359 Construction and land development 201,692 (3,345 ) - 16,200 214,547 - - 214,547 - 383,666 27,838,188 Residential 644,639 (22,111 ) (18,970 ) - 603,558 - - 603,558 39,228 568,151 106,828,654 Commercial 111,390 129,023 - 15,000 255,413 152,449 - 102,964 152,449 - 31,029,757 Consumer 2,138 2,232 - - 4,370 - - 4,370 - - 355,958 Unallocated 106,550 (17,100 ) - - 89,450 - - 89,450 - - - $ 3,296,538 $ 330,000 $ (18,970 ) $ 42,700 $ 3,650,268 $ 281,910 $ - $ 3,368,358 $ 7,012,609 $ 1,008,642 $ 478,359,916 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: Balance at December 31, 2020 $ 2,250,232 Transfer to accretable 460,413 Accretion (1,081,403 ) Balance at December 31, 2021 $ 1,629,242 During 2020, At December 31, 2021, December 31, 2020 December 31, 2021, December 31, 2021, 2021 2020, December 31, 2021, At December 31, 2021, one Loans having an aggregate balance of approximately $111.5 December 31, 2021. $55.4 December 31, 2021. December 31, 2021 2020, $22.1 The Company makes loans to customers located primarily in Baltimore County and Carroll County, Maryland and in surrounding areas of northern Maryland. Although management believes that the loan portfolio is diversified, many loans are secured by real estate and its performance will be influenced by the economy of the region, including local real estate markets.

Note 7 - Premises and Equipment

Note 7 - Premises and Equipment	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	7. Premises and Equipment A summary of premises and equipment is as follows: Useful lives (in years) 2021 2020 Land and improvements - $ 2,602,998 $ 3,237,998 Buildings and improvements 15 - 39 6,302,622 6,989,622 Furniture and equipment 3 - 10 4,752,133 4,509,439 13,657,753 14,737,059 Accumulated depreciation and amortization 7,398,332 7,000,503 $ 6,259,421 $ 7,736,556 Depreciation and amortization expense $ 434,434 $ 371,646 On March 31, 2021, Software with a net book value of $118,614 December 31, 2021 2020, $36,509 2021 2020,

Note 8 - Goodwill and Other Int

Note 8 - Goodwill and Other Intangibles	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	8. Goodwill and Other Intangibles The Merger in October 2020 Goodwill CDI Total Balance at December 31, 2019 $ - $ - $ - Acquired during the year 6,978,208 83,282 7,061,490 Amortization - (2,082 ) (2,082 ) Adjustments - - - Balance at December 31, 2020 6,978,208 81,200 7,059,408 Acquired during the year - - - Amortization - (8,328 ) (8,328 ) Adjustments - - - Balance at December 31, 2021 $ 6,978,208 $ 72,872 $ 7,051,080 The CDI is being amortized over 10 years on a straight line basis. Annual amortization will be $8,328 per year and $6,246 in year 10. not

Note 9 - Commitments and Contin

Note 9 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	9. Commitments and Contingencies Lease Commitments The Company has an operating lease for the land on which the Hampstead branch is located. The initial term of the lease expired on September 30, 2009 three five September 30, 2024. five five July 2012, five January 2018, one five five June 2015. July 2019, June 2020 three five May 2018, five two five The following table shows operating lease right of use assets and operating lease liabilities as of December 31, 2021: Consolidated Balance Sheet classification December 31, 2021 December 31, 2020 Operating lease right of use asset Other assets $ 1,093,382 $ 1,242,832 Operating lease liabilities Other liabilities 1,311,570 1,443,966 Operating lease cost included in occupancy expense in the statement of income was $ 191,913 2021 2020. Future undiscounted lease payments for operating leases with initial terms of one December 31, 2021 Year Amount 2022 $ 181,784 2023 187,951 2024 193,443 2025 199,107 2026 204,952 Thereafter 492,394 Total lease payments 1,459,631 Less imputed interest (148,061 ) Present value of operating lease liabilities $ 1,311,570 For operating leases as of December 31, 2021, December 31, 2021 2020, 174,860 Credit Commitments Outstanding loan commitments, unused lines of credit, and letters of credit as of December 31, 2021 2020 Loan commitments Construction and land development $ 6,810,353 $ 4,668,250 Commercial 630,000 1,000,000 Commercial real estate 23,552,400 15,772,020 Residential 3,804,617 4,668,750 $ 34,797,370 $ 26,109,020 Unused lines of credit Home-equity lines $ 12,707,519 $ 13,716,894 Commercial lines 28,828,911 23,996,679 $ 41,536,430 $ 37,713,573 Letters of credit $ 1,470,742 $ 1,891,428 Loan commitments and lines of credit are agreements to lend to a customer as long as there is no may not third The maximum exposure to credit loss in the event of nonperformance by the customer is the contractual amount of the commitment. Loan commitments, lines of credit and letters of credit are made on the same terms, including collateral, as outstanding loans. Management is not Insurance Reserves The Insurance Subsidiary insures risks of the Bank (primarily professional liability) that are not one not December 31, 2021 2020 $390,171

Note 10 - Retirement Plans

Note 10 - Retirement Plans	12 Months Ended
	Dec. 31, 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 $259,042 2021 2020, The Company has entered into agreements with 12 $6,643 2021 2020, The Company adopted supplemental executive retirement plans for three $168,129 2021 2020, Retirement plan expenses are included in employee benefits on the Consolidated Statements of Income.

Note 11 - Interest-bearing Depo

Note 11 - Interest-bearing Deposits	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Deposit Liabilities Disclosures [Text Block]	11. Interest-Bearing Deposits Major classifications of interest-bearing deposits are as follows: 2021 2020 NOW $ 130,486,845 $ 107,763,512 Money market 90,994,339 83,740,032 Savings 99,959,988 80,890,934 Certificates of deposit, greater than $250,000 34,697,273 38,700,152 Other time deposits 146,100,610 159,151,804 $ 502,239,055 $ 470,246,434 As of December 31, 2021, Year Amount 2022 $ 134,504,155 2023 33,911,560 2024 6,968,424 2025 1,486,784 2026 3,926,960 $ 180,797,883

Note 12 - Borrowed Funds

Note 12 - Borrowed Funds	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Debt Disclosure [Text Block]	12. Borrowed Funds Borrowed funds consist of securities sold under repurchase agreements, which represent overnight or term borrowings from customers, advances from the FHLB of Atlanta, the FRB, and overnight borrowings from a commercial bank. The government agency securities that are the collateral for these agreements are owned by the Company and maintained in the custody of an unaffiliated agent designated by the Company. On September 30, 2020, October 1, 2020, September 30, 2025. October 1, 2021. nine Additional information is as follows: 2021 2020 Amounts outstanding at year-end: Securities sold under repurchase agreements $ 5,414,026 $ 24,753,972 Federal Home Loan Bank advances: Maturity date Interest Rate Amount 3/30/2025 1.00% 5,000,000 5,000,000 Long-term debt (net of isuuance costs): Maturity date Interest Rate Amount 9/30/2025 4.10% 16,978,905 16,973,280 Weighted average rate paid at December 31: Securities sold under repurchase agreements 0.31 % 0.61 % Federal Home Loan Bank advances 1.00 % 1.00 % Long-term debt 4.10 % 4.10 % Average rate paid during the year ended December 31: Securities sold under repurchase agreements 0.43 % 1.15 % Federal Home Loan Bank advances 1.01 % 0.84 % Long-term debt 4.10 % 4.10 % Investment securities underlying the repurchase agreements at December 31: Carrying value $ 7,062,928 $ 34,958,212 Loans pledged to the Federal Home Loan Bank at December 31: Carrying value - loans $ 111,547,027 $ 115,282,801 Loans pledged to the Federal Reserve Bank at December 31: Carrying value $ 55,399,031 $ 76,027,628 The Company is approved to borrow approximately $83.0 million against eligible pledged single family residential loans, eligible pledged multi-family loans, eligible pledged commercial loans, and eligible pledged securities under a secured line of credit with the FHLB. In addition, the Company has a facility with the FRB whereby the Company can borrow up to $25.3 million. The Company also has available an unsecured federal funds line of credit of $14.5 million and a secured federal funds line of credit of $9 million from commercial banks.

Note 13 - Income Taxes

Note 13 - Income Taxes	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	13. Income Taxes The components of income tax expense are as follows: 2021 2020 Current Federal $ 1,798,535 $ 387,193 State 794,348 251,349 2,592,883 638,542 Deferred (160,070 ) (151,331 ) $ 2,432,813 $ 487,211 The components of the deferred tax expense are as follows: 2021 2020 Depreciation $ 8,291 $ (18,006 ) Provision for loan losses (141,488 ) (171,984 ) Other real estate owned allowance for loss (46,561 ) - Nonaccrual interest (83,961 ) (2,752 ) Prepaid captive insurance premium (14,375 ) 76,855 Write-down of equity securities (4,227 ) 2,893 Lease liability, net of right of use asset (4,693 ) (9,372 ) Purchase accounting adjustments 175,037 29,982 Post-retirement benefits (48,093 ) (58,947 ) $ (160,070 ) $ (151,331 ) The components of the net deferred tax asset are as follows: 2021 2020 Deferred tax assets Allowance for loan losses $ 951,348 $ 809,860 Other real estate owned allowance for loss 434,628 388,066 Capital loss carryover 5,300 5,300 Nonaccrual interest 88,581 4,620 Post-retirement benefits 651,482 603,390 Purchase accounting adjustments 235,142 392,341 Unrealized loss on securities available for sale 468,726 - Lease liability, net of right of use asset 60,040 55,347 2,895,247 2,258,924 Deferred tax liabilities Prepaid captive insurance premium 357,518 371,894 Depreciation 348,900 322,770 Unrealized gain on securities available for sale - 328,986 Other 11,379 15,606 717,797 1,039,256 Net deferred tax asset $ 2,177,450 $ 1,219,668 The differences between the federal income tax rate in effect each year and the effective tax rate for the Company are reconciled as follows: 2021 2020 Statutory federal income tax rate 21.0 % 21.0 Increase (decrease) resulting from: Federal tax-exempt income (4.4 ) (12.3 ) State income taxes, net of federal income tax benefit 5.8 4.5 Nondeductible expenses - 2.2 Other 0.6 - 23.0 % 15.4 Included in Federal tax-exempt income is the insurance premium revenue of the Insurance Subsidiary. The IRS recently audited our fiscal year 2016, 2017, 2018 not December 31, 2021 not The Company does not not December 31, 2018

Note 14 - Capital Standards

Note 14 - Capital Standards	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Regulatory Capital Requirements under Banking Regulations [Text Block]	14. Capital Standards The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possible additional, discretionary actions by the regulators that, if undertaken, could have a direct material effect on our financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, we must meet specific capital guidelines that involve quantitative measures of our assets, liabilities, and certain off‑balance sheet items as calculated under regulatory accounting practices. Our capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. The Basel III Capital Rules became effective for the Bank on January 1, 2015 1 1 1 In connection with the adoption of the Basel III Capital Rules, the Bank elected to opt-out of the requirement to include accumulated other comprehensive income in Common Equity Tier 1 1 Under the revised prompt corrective action requirements, insured depository institutions are required to meet the following in order to qualify as "well capitalized:" (i) a Common Equity Tier 1 6.5%; 1 8%; 10%; 1 5%. The implementation of the capital conservation buffer began on January 1, 2016, 0.625% four January 1, 2.5% January 1, 2020 not The aforementioned capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of Common Equity Tier 1 On September 17, 2019, On April 6, 2020, two 8% second 2020, 8.5% 2021, 9% 1 8%, $10 not not The following table presents actual and required capital ratios as of December 31, 2021 2020, December 31, 2021 2020, As of December 31, 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. The following table presents actual and required capital ratios as of December 31, 2021 2020, Minimum To Be Well (Dollars in thousands) Actual Capital Adequacy Capitalized December 31, 2021 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 69,957 13.24 % $ 55,471 10.50 % $ 52,830 10.00 % Tier 1 capital (to risk-weighted assets) 66,307 12.55 % 44,905 8.50 % 42,264 8.00 % Common equity tier 1 (to risk- weighted assets) 66,307 12.55 % 36,981 7.00 % 34,339 6.50 % Tier 1 leverage (to average assets) 66,307 9.27 % 28,614 4.00 % 35,767 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 15 - Fair Value

Note 15 - Fair Value	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Fair Value Disclosures [Text Block]	15. Fair Value Accounting standards define fair value as the price that would be received upon the sale of an asset or paid upon the transfer of a liability in an orderly transaction between market participants (an “exit” price). The price in the principal market used to measure the fair value of the asset or liability is not The standards require the use of valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. The standards establish a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: ● Level 1: ● Level 2: 1 not ● Level 3: The Company uses the following methods and significant assumptions to estimate the fair values of the following assets: ● Securities available for sale: The fair values of securities available for sale are determined by obtaining quoted prices from a nationally recognized securities pricing agent. If quoted market prices are not ● Equity security at fair value: The Company’s investment in an equity mutual fund is valued based on the net asset value of the fund, which is classified as Level 1. ● Other real estate owned (“OREO”): Nonrecurring fair value adjustments to OREO reflect full or partial write-downs that are based on the OREO’s observable market price or current appraised value of the real estate. Since the market for OREO is not 3. third $0 ● Impaired loans: Nonrecurring fair value adjustments to impaired loans reflect full or partial write-downs and reserves that are based on the impaired loan’s observable market price or current appraised value of the collateral. Since the market for impaired loans is not 3. third The following table summarizes financial assets measured at fair value on a recurring and nonrecurring basis as of December 31, 2021 2020, Carrying Value: Level 1 Level 2 Level 3 Total December 31, 2021 Recurring: Available for sale securities State and municipal $ - $ 763,498 $ - $ 763,498 SBA pools - 1,397,762 - 1,397,762 Corporate bonds - 8,584,207 650,000 9,234,207 Mortgage-backed securities - 137,842,449 - 137,842,449 $ - $ 148,587,916 $ 650,000 $ 149,237,916 Equity security at fair value $ 543,605 $ - $ - $ 543,605 Nonrecurring: Other real estate owned, net $ - $ - $ 1,242,365 $ 1,242,365 Impaired loans - - 373,500 373,500 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 - 6,697,431 100,000 6,797,431 Mortgage-backed securities - 44,909,516 - 44,909,516 $ - $ 54,377,286 $ 100,000 $ 54,477,286 Equity security at fair value $ 552,566 $ - $ - $ 552,566 Nonrecurring: Other real estate owned, net $ - $ - $ 1,411,605 $ 1,411,605 Reconciliation of Level 3 Inputs Corporate Bonds December 31, 2020 fair value $ 100,000 Additions 650,000 Principal payments received (100,000 ) December 31, 2021 fair value $ 650,000 The estimated fair value of financial instruments that are reported at amortized cost in the Company’s consolidated balance sheets, segregated by the level of the valuation inputs were as follows: December 31, 2021 December 31, 2020 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets Level 1 inputs Cash and cash equivalents $ 26,462,106 $ 26,462,106 $ 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 1,609,063 1,609,063 2,057,491 2,057,491 Securities held to maturity 21,851,975 22,805,601 19,904,059 21,070,326 Mortgage loans held for sale 126,500 128,829 1,673,350 1,705,781 Restricted stock, at cost 675,400 675,400 900,500 900,500 Bank owned life insurance 11,556,163 11,556,163 11,297,342 11,297,342 Level 3 inputs Securities held to maturity 3,073,040 3,073,040 3,174,460 3,174,460 Loans, net 482,011,334 487,012,970 521,690,514 527,132,047 Financial liabilities Level 1 inputs Noninterest-bearing deposits $ 124,175,615 $ 124,175,615 $ 103,155,113 $ 103,155,113 Securities sold under repurchase agreements 5,414,026 5,414,026 24,753,972 24,753,972 Level 2 inputs Interest-bearing deposits 502,239,055 502,396,172 470,246,434 474,096,434 Federal Home Loan Bank advances 5,000,000 4,967,000 5,000,000 5,136,000 Long-term debt 16,978,905 17,298,111 16,973,280 17,018,416 Accrued interest payable 295,910 295,910 409,622 409,622

Note 16 - Parent Company Financ

Note 16 - Parent Company Financial Information	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Condensed Financial Information of Parent Company Only Disclosure [Text Block]	16. Parent Company Financial Information The condensed financial statements for the Company (parent only) are presented below: Balance Sheets December 31, 2021 2020 Assets Cash and cash equivalents $ 930,354 $ 200,925 Investment in subsidiaries 72,662,265 68,645,516 Other assets 185,866 36,380 $ 73,778,485 $ 68,882,821 Liabilities and Stockholders' Equity Long-term debt $ 16,978,905 $ 16,973,280 Accrued interest payable 178,122 180,058 17,157,027 17,153,338 Stockholders' equity Common stock, par value $ .01 5,000,000 3,037,137 3,011,255 30,372 30,113 Additional paid-in capital 28,857,422 28,294,139 Retained earnings 29,128,600 22,698,954 Accumulated other comprehensive income (1,394,936 ) 706,277 56,621,458 51,729,483 $ 73,778,485 $ 68,882,821 Statements of Income Years Ended December 31, 2021 2020 Income Cash dividends from subsidiaries $ 2,595,000 $ 9,452,045 Total income 2,595,000 9,452,045 Interest expense - long-term debt (712,306 ) (181,465 ) Noninterest expense (537 ) (521 ) Income before income taxes and equity in undistributed income of subsidiaries 1,882,157 9,270,059 Income taxes (benefit) (149,486 ) (37,812 ) Income before before equity in undistributed income of subsidiaries 2,031,643 9,307,871 Dividends in excess of income of bank subsidiary - (6,759,815 ) Dividends in excess of income of insurance subsidiary (100,019 ) - Equity in undistributed income of bank subsidiary 6,217,982 - Equity in undistributed income of insurance subsidiary - 133,947 Net Income $ 8,149,606 $ 2,682,003 Statements of Cash Flows Years Ended December 31, 2021 2020 Cash flows from operating activities Net Income $ 8,149,606 $ 2,682,003 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed income of insurance subsidiary - (133,947 ) Equity in undistributed income of bank subsidiary (6,217,982 ) - (Decrease) increase in accrued interest payable (1,935 ) 180,058 Amortization of debt issuance costs 5,625 1,406 Income tax receivable (149,486 ) (37,812 ) Dividend received in excess of income of insurance subsidiary 100,019 - Dividend received in excess of income of bank subsidiary - 6,759,815 Cash provided by operating activities 1,885,847 9,451,523 Cash flows from investing activities Contribution of capital to subsidiaries - (690,000 ) Acquisition of Carroll Bancorp, Inc. net of cash acquired - (24,526,935 ) Cash used by investing activities - (25,216,935 ) Cash flows from financing activities Long-term debt - 16,971,874 Dividends paid, net of reinvestments (1,156,418 ) (1,069,689 ) Cash provided by (used in) financing activities (1,156,418 ) 15,902,185 Net increase in cash and cash equivalents 729,429 136,773 Cash and cash equivalents at beginning of period 200,925 64,152 Cash and cash equivalents at end of period $ 930,354 $ 200,925 The accompanying notes are an integral part of these consolidated financial statements.

Note 17 - Litigation

Note 17 - Litigation	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	17. Litigation In the ordinary course of its business, the Company is periodically party to various legal actions normally associated with a financial institution. Management does not

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of consolidation The consolidated financial statements include the accounts of Farmers and Merchants Bancshares, Inc. and its wholly owned subsidiaries, Farmers and Merchants Bank (the “Bank”), and Series Protected Cell FCB- 4 one October 1, 2020, December 31, 2021 2020
Business Description, Policy [Policy Text Block]	Business The Bank provides banking services to individuals and businesses located in Baltimore County, Maryland, Carroll County, Maryland and surrounding areas of northern Maryland. The Insurance Subsidiary is a captive insurance entity that provides insurance coverage for the Bank. Reliable Community Financial Services, Inc. is licensed to provide a wide range of investment and insurance products to its customers, but is inactive.
Reclassification, Comparability Adjustment [Policy Text Block]	Reclassifications Certain reclassifications have been made to the 2020 no
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and cash equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, money market funds, and federal funds sold. Generally, federal funds are purchased and sold for one
Comprehensive Income, Policy [Policy Text Block]	Comprehensive income Comprehensive income includes net income and the unrealized gains or losses on investment securities available for sale, net of income taxes.
Investment, Policy [Policy Text Block]	Investment securities As securities are purchased, management determines if the securities should be classified as held to maturity or available for sale. Securities that management has the intent and ability to hold to maturity are recorded at amortized cost, which is cost adjusted for amortization of premiums and accretion of discounts. Discounts are accreted through maturity. Premiums are amortized through the earliest call date. Securities held to meet liquidity needs or that may
Equity Securities, Policy [Policy Text Block]	Equity security at fair value The Company owns a mutual fund that is measured at fair value with changes in fair value recognized in noninterest income.
Federal Home Loan Bank stocks [Policy Text Block]	Restricted stock, at cost Restricted stock consists of Federal Home Loan Bank of Atlanta (the “FHLB”) stock, Community Bankers Bank (“CBB”) stock, and Atlantic Community Bankers Bank (“ACBB”) stock. As a member of the FHLB, the Bank is required to purchase FHLB stock in an amount that is based on the Bank’s total assets. Additional stock is purchased and redeemed based on the outstanding FHLB advances to the Bank. CBB and ACBB require its correspondent banking institutions to hold stock as a condition of membership. The restricted investment in bank stocks is carried at cost. On a quarterly basis, management evaluates the bank stocks for impairment based on assessment of the ultimate recoverability of cost rather than by recognizing temporary declines in value. The determination of whether a decline affects the ultimate recoverability of cost is influenced by criteria such as operating performance, liquidity, funding and capital positions, stock repurchase history, dividend history, and impact of legislative and regulatory changes.
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block]	Loans and allowance for loan losses Loans are stated at the current amount of unpaid principal, adjusted for deferred origination costs, deferred origination fees, 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 and estimable losses on existing loans and other extensions of credit that may three not The allowances established for probable and estimable 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 borrower’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 Loans acquired through business combinations that are designated as purchase credit impaired loans because they meet the specific criteria of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 310 30, 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 difference. These loans are accounted for under ASC 310 30. Loans acquired through business combinations that do not 310 30 310 20, no no
Mortgage Banking Activity [Policy Text Block]	Mortgage loans held for sale and mortgage banking income Mortgage loans held for sale are carried at the lower of aggregate cost or fair value based on the current fair value of each outstanding loan. Sales of loans are recorded when the proceeds are received, with any gain or loss recorded in mortgage banking income. The Company sells its mortgage loans to third no third not third
Property, Plant and Equipment, Policy [Policy Text Block]	Premises and equipment Land is carried at cost. Premises and equipment are recorded at cost less accumulated depreciation and amortization. Depreciation on buildings and equipment is computed over the estimated useful lives of the assets using the straight-line method. Leasehold improvements are amortized using the straight-line method over the term of the lease or the estimated useful lives of the asset, whichever is shorter.
Real Estate Owned, Valuation Allowance, Policy [Policy Text Block]	Other real estate owned Real estate acquired through foreclosure or by deed in lieu of foreclosure is recorded at fair value less estimated costs to sell on the date acquired establishing a new cost basis. Losses incurred at the time of acquisition of the property are charged to the allowance for loan losses. Subsequent reductions in the estimated value of the property are included with any gains or losses on sale in noninterest expense.
Bank Owned Life Insurance, Policy [Policy Text Block]	Bank owned life insurance The Company has purchased life insurance policies on certain key executives. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement.
Goodwill and Intangible Assets, Policy [Policy Text Block]	Goodwill and other intangible assets Goodwill is calculated as the purchase premium, if any, after adjusting for the fair value of net assets acquired in purchase transactions. Goodwill is not 10
Revenue from Contract with Customer [Policy Text Block]	Revenue recognition ASC Topic 606 not 606 Service Charges on Deposit Accounts: Interchange Income Other Service Charges and Fees:
Lessee, Leases [Policy Text Block]	Operating leases The Company accounts for lease obligations in accordance with FASB Accounting Standards Update (“ASU”) 2016 02, 842 2016‑02,
Advertising Cost [Policy Text Block]	Advertising costs Advertising costs are expensed in the period incurred and totaled $ 233,358 December 31, 2021 2020,
Income Tax, Policy [Policy Text Block]	Income taxes The provision for income taxes includes income taxes payable for the current year and deferred income taxes. Deferred tax assets and liabilities are determined based on the difference between the financial statement bases and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. A tax position is recognized as a benefit only if it is “more likely than not” 50% not not” no
Earnings Per Share, Policy [Policy Text Block]	Per share data Earnings per share are determined by dividing net income by the weighted average number of shares of common stock outstanding, giving retroactive effect to any stock dividends. Weighted average shares were 3,018,112 2021 2020, December 31, 2021 December 31, 2020.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent accounting pronouncements Management has the responsibility for the selection and use of appropriate accounting policies. The significant accounting policies used by the Company are described in the notes to the consolidated financial statements. The following accounting guidance has been approved by the FASB and would apply to the Company if the Company entered into an applicable activity. In June 2016, 2016‑13, 2019 10 326 815 842 January 1, 2023 third 2022. In March 2020, 2020 04, 848 2020 04 March 12, 2020 December 31, 2022. In August 2021, 2021 06, 205 942 946 No. 33 10786, No. 33 10835, No. 33 10786, No. 33 10835, not 2021 06 The accounting policies adopted by management are consistent with authoritative GAAP and are consistent with those followed by our peers.

Note 2 - Acquisition of Carro_2

Note 2 - Acquisition of Carroll Bancorp, Inc. (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Book value Fair value Cash $ 5,441,610 $ 5,441,610 Certificates of deposit in other banks 750,000 750,000 Securities available for sale 12,863,795 12,922,620 Restricted stock, at cost 926,700 926,700 Loans held for sale 1,702,950 1,743,195 Loans 145,153,100 145,080,950 Premises and equipment 2,619,413 2,684,240 Other real estate owned 1,411,605 1,411,605 Other assets 5,290,717 5,388,546 Core deposit intangible - 83,282 Goodwill - 6,978,208 Total assets $ 176,159,890 $ 183,410,956 Deposits $ 144,896,990 $ 145,513,085 FHLB advances 13,000,000 13,000,000 Other liabilities 95,296 90,143 Total liabilities 157,992,286 158,603,228 Stockholders' equity 18,167,604 24,807,728 Total liabilities and stockholders' equity $ 176,159,890 $ 183,410,956

Note 4 - Investment Securities

Note 4 - Investment Securities (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Marketable Securities [Table Text Block]	Amortized Unrealized Unrealized Fair December 31, 2021 cost gains losses value Available for sale State and municipal $ 753,061 $ 10,437 $ - $ 763,498 SBA pools 1,418,770 1,656 22,664 1,397,762 Corporate bonds 9,225,153 64,595 55,541 9,234,207 Mortgage-backed securities 139,765,445 336,084 2,259,080 137,842,449 $ 151,162,429 $ 412,772 $ 2,337,285 $ 149,237,916 Held to maturity State and municipal $ 21,851,975 $ 1,020,877 $ 67,251 $ 22,805,601 December 31, 2020 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 December 31, 2021 cost value cost value Within one year $ 499,903 $ 505,360 $ - $ - Over one to five years 3,894,465 3,949,948 799,343 812,955 Over five to ten years 5,583,846 5,542,397 2,046,291 2,211,802 Over ten years - - 19,006,341 19,780,844 9,978,214 9,997,705 21,851,975 22,805,601 Mortgage-backed securities and SBA pools, due in monthly installments 141,184,215 139,240,211 - - $ 151,162,429 $ 149,237,916 $ 21,851,975 $ 22,805,601
Schedule of Unrealized Loss on Investments [Table Text Block]	December 31, 2021 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 $ 1,324,648 $ 35,720 $ 715,650 $ 31,531 $ 2,040,298 $ 67,251 SBA pools - - 1,133,398 22,664 1,133,398 22,664 Corporate bonds 5,443,886 55,541 - - 5,443,886 55,541 Mortgage-backed securities 117,840,965 2,034,858 4,781,586 224,222 122,622,551 2,259,080 Total $ 124,609,499 $ 2,126,119 $ 6,630,634 $ 278,417 $ 131,240,133 $ 2,404,536 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 5 - Related Party Transa_2

Note 5 - Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Related Party Transactions [Table Text Block]	2021 2020 Balance, beginning of year $ 14,558,882 $ 14,551,236 Additions 2,489,000 1,771,200 Amounts collected (3,225,326 ) (1,763,554 ) Balance, end of year $ 13,822,556 $ 14,558,882

Note 6 - Loans (Tables)

Note 6 - Loans (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	2021 2020 Real estate: Commercial $ 319,185,116 $ 309,284,811 Construction and land development 28,221,854 33,641,916 Residential 107,436,033 121,327,761 Commercial 31,182,206 61,368,105 Consumer 355,958 288,454 486,381,167 525,911,047 Less: Allowance for loan losses 3,650,268 3,296,538 Deferred origination fees net of costs 719,565 923,995 $ 482,011,334 $ 521,690,514
Financing Receivable, Nonaccrual [Table Text Block]	2021 2020 Real estate: Commercial $ 4,810,965 $ 4,407,829 Residential 31,500 220,967 Commercial 152,449 - Total $ 4,994,914 $ 4,628,796
Financing Receivable, Past Due [Table Text Block]	90 Days Past Due 90 30 - 59 Days 60 - 89 Days or More Total Total Days or More Past Due Past Due Past Due Past Due Current Loans and Accruing December 31, 2021 Real estate: Commercial $ - $ - $ 502,961 $ 502,961 $ 318,682,155 $ 319,185,116 $ - Construction and land development - - - - 28,221,854 28,221,854 - Residential - - 249,161 249,161 107,186,872 107,436,033 217,661 Commercial - - 415,690 415,690 30,766,516 31,182,206 263,241 Consumer - - - - 355,958 355,958 - Total $ - $ - $ 1,167,812 $ 1,167,812 $ 485,213,355 $ 486,381,167 $ 480,902 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 December 31, 2021 Commercial real estate $ 6,820,932 $ 6,317,971 $ 502,961 $ 6,820,932 $ 129,461 $ 6,740,539 $ 125,079 Construction and land development - - - - - - - Residential real estate 39,228 39,228 - 39,228 - 41,981 1,672 Commercial 152,449 - 152,449 152,449 152,449 76,225 69,005 $ 7,012,609 $ 6,357,199 $ 655,410 $ 7,012,609 $ 281,910 $ 6,858,744 $ 195,756 December 31, 2020 Commercial real estate $ 6,660,145 $ 6,660,145 $ - $ 6,660,145 $ - $ 4,372,567 $ 345,570 Residential real estate 44,733 44,733 - 44,733 - 47,935 2,139 $ 6,704,878 $ 6,704,878 $ - $ 6,704,878 $ - $ 4,420,502 $ 347,709
Financing Receivable Credit Quality Indicators [Table Text Block]	Above Pass Special December 31, 2021 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ 1,225,732 $ 73,924,748 $ 146,174,439 $ 82,018,890 $ 3,345,788 $ 12,495,519 $ - $ 319,185,116 Construction and land development - - 3,853,775 12,452,257 9,973,457 1,942,365 - - 28,221,854 Residential 41,152 708,162 46,358,477 48,295,430 9,570,815 - 2,461,997 - 107,436,033 Commercial 9,774,570 - 5,292,721 12,585,396 3,377,070 - 152,449 - 31,182,206 Consumer 5,813 168,037 147,903 2,280 11,298 - - 20,627 355,958 $ 9,821,535 $ 2,101,931 $ 129,577,624 $ 219,509,802 $ 104,951,530 $ 5,288,153 $ 15,109,965 $ 20,627 $ 486,381,167 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 December 31, 2021 balance losses offs Recoveries balance Individually Impaired Collectively Individually Impaired Collectively Real estate: Commercial $ 2,230,129 $ 241,301 $ - $ 11,500 $ 2,482,930 $ 129,461 $ - $ 2,353,469 $ 6,820,932 $ 56,825 $ 312,307,359 Construction and land development 201,692 (3,345 ) - 16,200 214,547 - - 214,547 - 383,666 27,838,188 Residential 644,639 (22,111 ) (18,970 ) - 603,558 - - 603,558 39,228 568,151 106,828,654 Commercial 111,390 129,023 - 15,000 255,413 152,449 - 102,964 152,449 - 31,029,757 Consumer 2,138 2,232 - - 4,370 - - 4,370 - - 355,958 Unallocated 106,550 (17,100 ) - - 89,450 - - 89,450 - - - $ 3,296,538 $ 330,000 $ (18,970 ) $ 42,700 $ 3,650,268 $ 281,910 $ - $ 3,368,358 $ 7,012,609 $ 1,008,642 $ 478,359,916 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]	Balance at December 31, 2020 $ 2,250,232 Transfer to accretable 460,413 Accretion (1,081,403 ) Balance at December 31, 2021 $ 1,629,242

Note 7 - Premises and Equipme_2

Note 7 - Premises and Equipment (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Property, Plant and Equipment [Table Text Block]	Useful lives (in years) 2021 2020 Land and improvements - $ 2,602,998 $ 3,237,998 Buildings and improvements 15 - 39 6,302,622 6,989,622 Furniture and equipment 3 - 10 4,752,133 4,509,439 13,657,753 14,737,059 Accumulated depreciation and amortization 7,398,332 7,000,503 $ 6,259,421 $ 7,736,556 Depreciation and amortization expense $ 434,434 $ 371,646

Note 8 - Goodwill and Other I_2

Note 8 - Goodwill and Other Intangibles (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Intangible Assets and Goodwill [Table Text Block]	Goodwill CDI Total Balance at December 31, 2019 $ - $ - $ - Acquired during the year 6,978,208 83,282 7,061,490 Amortization - (2,082 ) (2,082 ) Adjustments - - - Balance at December 31, 2020 6,978,208 81,200 7,059,408 Acquired during the year - - - Amortization - (8,328 ) (8,328 ) Adjustments - - - Balance at December 31, 2021 $ 6,978,208 $ 72,872 $ 7,051,080

Note 9 - Commitments and Cont_2

Note 9 - Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Components of Lease Assets and Liabilities [Table Text Block]	Consolidated Balance Sheet classification December 31, 2021 December 31, 2020 Operating lease right of use asset Other assets $ 1,093,382 $ 1,242,832 Operating lease liabilities Other liabilities 1,311,570 1,443,966
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Year Amount 2022 $ 181,784 2023 187,951 2024 193,443 2025 199,107 2026 204,952 Thereafter 492,394 Total lease payments 1,459,631 Less imputed interest (148,061 ) Present value of operating lease liabilities $ 1,311,570
Schedule of Credit Commitments [Table Text Block]	2021 2020 Loan commitments Construction and land development $ 6,810,353 $ 4,668,250 Commercial 630,000 1,000,000 Commercial real estate 23,552,400 15,772,020 Residential 3,804,617 4,668,750 $ 34,797,370 $ 26,109,020 Unused lines of credit Home-equity lines $ 12,707,519 $ 13,716,894 Commercial lines 28,828,911 23,996,679 $ 41,536,430 $ 37,713,573 Letters of credit $ 1,470,742 $ 1,891,428

Note 11 - Interest-bearing De_2

Note 11 - Interest-bearing Deposits (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Deposit Liabilities, Type [Table Text Block]	2021 2020 NOW $ 130,486,845 $ 107,763,512 Money market 90,994,339 83,740,032 Savings 99,959,988 80,890,934 Certificates of deposit, greater than $250,000 34,697,273 38,700,152 Other time deposits 146,100,610 159,151,804 $ 502,239,055 $ 470,246,434
Time Deposit Maturities [Table Text Block]	Year Amount 2022 $ 134,504,155 2023 33,911,560 2024 6,968,424 2025 1,486,784 2026 3,926,960 $ 180,797,883

Note 12 - Borrowed Funds (Table

Note 12 - Borrowed Funds (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Debt [Table Text Block]	2021 2020 Amounts outstanding at year-end: Securities sold under repurchase agreements $ 5,414,026 $ 24,753,972 Federal Home Loan Bank advances: Maturity date Interest Rate Amount 3/30/2025 1.00% 5,000,000 5,000,000 Long-term debt (net of isuuance costs): Maturity date Interest Rate Amount 9/30/2025 4.10% 16,978,905 16,973,280 Weighted average rate paid at December 31: Securities sold under repurchase agreements 0.31 % 0.61 % Federal Home Loan Bank advances 1.00 % 1.00 % Long-term debt 4.10 % 4.10 % Average rate paid during the year ended December 31: Securities sold under repurchase agreements 0.43 % 1.15 % Federal Home Loan Bank advances 1.01 % 0.84 % Long-term debt 4.10 % 4.10 % Investment securities underlying the repurchase agreements at December 31: Carrying value $ 7,062,928 $ 34,958,212 Loans pledged to the Federal Home Loan Bank at December 31: Carrying value - loans $ 111,547,027 $ 115,282,801 Loans pledged to the Federal Reserve Bank at December 31: Carrying value $ 55,399,031 $ 76,027,628

Note 13 - Income Taxes (Tables)

Note 13 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	2021 2020 Current Federal $ 1,798,535 $ 387,193 State 794,348 251,349 2,592,883 638,542 Deferred (160,070 ) (151,331 ) $ 2,432,813 $ 487,211
Schedule of Components of Deferred Tax Expense Benefit [Table Text Block]	2021 2020 Depreciation $ 8,291 $ (18,006 ) Provision for loan losses (141,488 ) (171,984 ) Other real estate owned allowance for loss (46,561 ) - Nonaccrual interest (83,961 ) (2,752 ) Prepaid captive insurance premium (14,375 ) 76,855 Write-down of equity securities (4,227 ) 2,893 Lease liability, net of right of use asset (4,693 ) (9,372 ) Purchase accounting adjustments 175,037 29,982 Post-retirement benefits (48,093 ) (58,947 ) $ (160,070 ) $ (151,331 )
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	2021 2020 Deferred tax assets Allowance for loan losses $ 951,348 $ 809,860 Other real estate owned allowance for loss 434,628 388,066 Capital loss carryover 5,300 5,300 Nonaccrual interest 88,581 4,620 Post-retirement benefits 651,482 603,390 Purchase accounting adjustments 235,142 392,341 Unrealized loss on securities available for sale 468,726 - Lease liability, net of right of use asset 60,040 55,347 2,895,247 2,258,924 Deferred tax liabilities Prepaid captive insurance premium 357,518 371,894 Depreciation 348,900 322,770 Unrealized gain on securities available for sale - 328,986 Other 11,379 15,606 717,797 1,039,256 Net deferred tax asset $ 2,177,450 $ 1,219,668
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	2021 2020 Statutory federal income tax rate 21.0 % 21.0 Increase (decrease) resulting from: Federal tax-exempt income (4.4 ) (12.3 ) State income taxes, net of federal income tax benefit 5.8 4.5 Nondeductible expenses - 2.2 Other 0.6 - 23.0 % 15.4

Note 14 - Capital Standards (Ta

Note 14 - Capital Standards (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2021 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 69,957 13.24 % $ 55,471 10.50 % $ 52,830 10.00 % Tier 1 capital (to risk-weighted assets) 66,307 12.55 % 44,905 8.50 % 42,264 8.00 % Common equity tier 1 (to risk- weighted assets) 66,307 12.55 % 36,981 7.00 % 34,339 6.50 % Tier 1 leverage (to average assets) 66,307 9.27 % 28,614 4.00 % 35,767 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 15 - Fair Value (Tables)

Note 15 - Fair Value (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	Carrying Value: Level 1 Level 2 Level 3 Total December 31, 2021 Recurring: Available for sale securities State and municipal $ - $ 763,498 $ - $ 763,498 SBA pools - 1,397,762 - 1,397,762 Corporate bonds - 8,584,207 650,000 9,234,207 Mortgage-backed securities - 137,842,449 - 137,842,449 $ - $ 148,587,916 $ 650,000 $ 149,237,916 Equity security at fair value $ 543,605 $ - $ - $ 543,605 Nonrecurring: Other real estate owned, net $ - $ - $ 1,242,365 $ 1,242,365 Impaired loans - - 373,500 373,500 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 - 6,697,431 100,000 6,797,431 Mortgage-backed securities - 44,909,516 - 44,909,516 $ - $ 54,377,286 $ 100,000 $ 54,477,286 Equity security at fair value $ 552,566 $ - $ - $ 552,566 Nonrecurring: Other real estate owned, net $ - $ - $ 1,411,605 $ 1,411,605
Fair Value, Assets Measured on Non-recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Reconciliation of Level 3 Inputs Corporate Bonds December 31, 2020 fair value $ 100,000 Additions 650,000 Principal payments received (100,000 ) December 31, 2021 fair value $ 650,000
Fair Value, by Balance Sheet Grouping [Table Text Block]	December 31, 2021 December 31, 2020 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets Level 1 inputs Cash and cash equivalents $ 26,462,106 $ 26,462,106 $ 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 1,609,063 1,609,063 2,057,491 2,057,491 Securities held to maturity 21,851,975 22,805,601 19,904,059 21,070,326 Mortgage loans held for sale 126,500 128,829 1,673,350 1,705,781 Restricted stock, at cost 675,400 675,400 900,500 900,500 Bank owned life insurance 11,556,163 11,556,163 11,297,342 11,297,342 Level 3 inputs Securities held to maturity 3,073,040 3,073,040 3,174,460 3,174,460 Loans, net 482,011,334 487,012,970 521,690,514 527,132,047 Financial liabilities Level 1 inputs Noninterest-bearing deposits $ 124,175,615 $ 124,175,615 $ 103,155,113 $ 103,155,113 Securities sold under repurchase agreements 5,414,026 5,414,026 24,753,972 24,753,972 Level 2 inputs Interest-bearing deposits 502,239,055 502,396,172 470,246,434 474,096,434 Federal Home Loan Bank advances 5,000,000 4,967,000 5,000,000 5,136,000 Long-term debt 16,978,905 17,298,111 16,973,280 17,018,416 Accrued interest payable 295,910 295,910 409,622 409,622

Note 16 - Parent Company Fina_2

Note 16 - Parent Company Financial Information (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Condensed Balance Sheet [Table Text Block]	Balance Sheets December 31, 2021 2020 Assets Cash and cash equivalents $ 930,354 $ 200,925 Investment in subsidiaries 72,662,265 68,645,516 Other assets 185,866 36,380 $ 73,778,485 $ 68,882,821 Liabilities and Stockholders' Equity Long-term debt $ 16,978,905 $ 16,973,280 Accrued interest payable 178,122 180,058 17,157,027 17,153,338 Stockholders' equity Common stock, par value $ .01 5,000,000 3,037,137 3,011,255 30,372 30,113 Additional paid-in capital 28,857,422 28,294,139 Retained earnings 29,128,600 22,698,954 Accumulated other comprehensive income (1,394,936 ) 706,277 56,621,458 51,729,483 $ 73,778,485 $ 68,882,821
Condensed Income Statement [Table Text Block]	Statements of Income Years Ended December 31, 2021 2020 Income Cash dividends from subsidiaries $ 2,595,000 $ 9,452,045 Total income 2,595,000 9,452,045 Interest expense - long-term debt (712,306 ) (181,465 ) Noninterest expense (537 ) (521 ) Income before income taxes and equity in undistributed income of subsidiaries 1,882,157 9,270,059 Income taxes (benefit) (149,486 ) (37,812 ) Income before before equity in undistributed income of subsidiaries 2,031,643 9,307,871 Dividends in excess of income of bank subsidiary - (6,759,815 ) Dividends in excess of income of insurance subsidiary (100,019 ) - Equity in undistributed income of bank subsidiary 6,217,982 - Equity in undistributed income of insurance subsidiary - 133,947 Net Income $ 8,149,606 $ 2,682,003
Condensed Cash Flow Statement [Table Text Block]	Statements of Cash Flows Years Ended December 31, 2021 2020 Cash flows from operating activities Net Income $ 8,149,606 $ 2,682,003 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed income of insurance subsidiary - (133,947 ) Equity in undistributed income of bank subsidiary (6,217,982 ) - (Decrease) increase in accrued interest payable (1,935 ) 180,058 Amortization of debt issuance costs 5,625 1,406 Income tax receivable (149,486 ) (37,812 ) Dividend received in excess of income of insurance subsidiary 100,019 - Dividend received in excess of income of bank subsidiary - 6,759,815 Cash provided by operating activities 1,885,847 9,451,523 Cash flows from investing activities Contribution of capital to subsidiaries - (690,000 ) Acquisition of Carroll Bancorp, Inc. net of cash acquired - (24,526,935 ) Cash used by investing activities - (25,216,935 ) Cash flows from financing activities Long-term debt - 16,971,874 Dividends paid, net of reinvestments (1,156,418 ) (1,069,689 ) Cash provided by (used in) financing activities (1,156,418 ) 15,902,185 Net increase in cash and cash equivalents 729,429 136,773 Cash and cash equivalents at beginning of period 200,925 64,152 Cash and cash equivalents at end of period $ 930,354 $ 200,925

Note 1 - Summary of Significa_2

Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Advertising Expense	$ 233,358	$ 237,909
Weighted Average Number of Shares Outstanding, Basic, Total (in shares)	3,018,112	2,983,972
Weighted Average Number Diluted Shares Outstanding Adjustment, Total (in shares)	0	0
First Community Bankers Insurance Co., LLC [Member]
Percentage of Ownership	100.00%

Note 2 - Acquisition of Carro_3

Note 2 - Acquisition of Carroll Bancorp, Inc. (Details Textual) - USD ($)	Oct. 01, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Assets, Total		$ 716,677,255	$ 677,317,082
Liabilities, Total		660,055,797	625,587,599
Deposits, Total		626,414,670	573,401,547
Goodwill, Ending Balance		$ 6,978,208	6,978,208	$ 0
Core Deposits [Member]
Finite-Lived Intangible Asset, Useful Life (Year)		10 years
Carroll Bancorp, Inc.[Member]
Assets, Total	$ 176,159,890
Financing Receivable, after Allowance for Credit Loss, Total	145,153,100
Liabilities, Total	157,992,286
Deposits, Total	144,896,990
Carroll Bancorp, Inc.[Member]
Business Combination, Consideration Transferred, Total	24,807,728
Payments to Acquire Businesses, Gross	7,800,000
Business Combination, Consideration Transferred, Liabilities Incurred	17,000,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets, Total	176,432,748
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities, Total	158,603,228
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net, Total	17,829,520
Goodwill, Ending Balance	6,978,208
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	83,282
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Certificates of Deposit Premium	616,377
Accretion Expense		$ 249,840	$ 129,844
Carroll Bancorp, Inc.[Member] | Core Deposits [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 83,282
Finite-Lived Intangible Asset, Useful Life (Year)	10 years

Note 2 - Acquisition of Carro_4

Note 2 - Acquisition of Carroll Bancorp, Inc. - Estimate of Fair Value (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Oct. 01, 2020	Dec. 31, 2019
Goodwill, Ending Balance	$ 6,978,208	$ 6,978,208		$ 0
Carroll Bancorp, Inc.[Member]
Cash			$ 5,441,610
Certificates of deposit in other banks			750,000
Securities available for sale			12,922,620
Restricted stock, at cost			926,700
Loans held for sale			1,743,195
Loans			145,080,950
Premises and equipment			2,684,240
Other real estate owned			1,411,605
Other assets			5,388,546
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles			83,282
Goodwill, Ending Balance			6,978,208
Total assets			183,410,956
Deposits			145,513,085
FHLB advances			13,000,000
Other liabilities			90,143
Total liabilities			158,603,228
Stockholders' equity			24,807,728
Total liabilities and stockholders' equity			183,410,956
Reported Value By Acquiree [Member] | Carroll Bancorp, Inc.[Member]
Cash			5,441,610
Certificates of deposit in other banks			750,000
Securities available for sale			12,863,795
Restricted stock, at cost			926,700
Loans held for sale			1,702,950
Loans			145,153,100
Premises and equipment			2,619,413
Other real estate owned			1,411,605
Other assets			5,290,717
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles			0
Goodwill, Ending Balance			0
Total assets			176,159,890
Deposits			144,896,990
FHLB advances			13,000,000
Other liabilities			95,296
Total liabilities			157,992,286
Stockholders' equity			18,167,604
Total liabilities and stockholders' equity			$ 176,159,890

Note 3 - Cash and Cash Equiva_2

Note 3 - Cash and Cash Equivalents (Details Textual) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Cash, Uninsured Amount	$ 7,549,531	$ 8,703,983

Note 4 - Investment Securitie_2

Note 4 - Investment Securities (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Security Owned and Pledged as Collateral, Fair Value, Total	$ 14,307,989	$ 34,958,212
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale	31,327,354	22,224,763
Debt Securities, Available-for-sale, Realized Gain (Loss), Total	9,190	0
Proceeds from Sale of Debt Securities, Available-for-sale	0	$ 2,025,000
Securities Called at a Premium [Member]
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale	$ 1,263,845

Note 4 - Investment Securitie_3

Note 4 - Investment Securities - Investments in Debt Securities (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Amortized cost, available for sale	$ 151,162,429	$ 53,502,875
Unrealized gains, available for sale	412,772	1,074,253
Unrealized losses, available for sale	2,337,285	99,842
Fair value, available for sale	149,237,916	54,477,286
Amortized cost, held to maturity	21,851,975	23,078,519
Fair value, held to maturity	22,805,601
US States and Political Subdivisions Debt Securities [Member]
Amortized cost, available for sale	753,061	962,438
Unrealized gains, available for sale	10,437	24,094
Unrealized losses, available for sale	0	0
Fair value, available for sale	763,498	986,532
Amortized cost, held to maturity	21,851,975	23,078,519
Unrealized gains, held to maturity	1,020,877	1,177,125
Unrealized losses, held to maturity	67,251	10,858
Fair value, held to maturity	22,805,601	24,244,786
SBA Pools [Member]
Amortized cost, available for sale	1,418,770	1,822,226
Unrealized gains, available for sale	1,656	0
Unrealized losses, available for sale	22,664	38,419
Fair value, available for sale	1,397,762	1,783,807
Corporate Debt Securities [Member]
Amortized cost, available for sale	9,225,153	6,692,156
Unrealized gains, available for sale	64,595	108,172
Unrealized losses, available for sale	55,541	2,897
Fair value, available for sale	9,234,207	6,797,431
Collateralized Mortgage Backed Securities [Member]
Amortized cost, available for sale	139,765,445	44,026,055
Unrealized gains, available for sale	336,084	941,987
Unrealized losses, available for sale	2,259,080	58,526
Fair value, available for sale	$ 137,842,449	$ 44,909,516

Note 4 - Investment Securitie_4

Note 4 - Investment Securities - Contractual Maturities (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Available for Sale Amortized cost, Within one year	$ 499,903
Available for Sale Fair value, Within one year	505,360
Held to Maturity Amortized cost, Within one year	0
Held to Maturity Fair value, Within one year	0
Available for Sale Amortized cost, Over one to five years	3,894,465
Available for Sale Fair value, Over one to five years	3,949,948
Held to Maturity Amortized cost, Over one to five years	799,343
Held to Maturity Fair value, Over one to five years	812,955
Available for Sale Amortized cost, Fair value, Over one to five years	5,583,846
Available for Sale Fair value, Over five to ten years	5,542,397
Held to Maturity Amortized cost, Over five to ten years	2,046,291
Held to Maturity Fair value, Over five to ten years	2,211,802
Available for Sale Amortized cost, Over ten years	0
Available for Sale Fair value, Over ten years	0
Held to Maturity Amortized cost, Over ten years	19,006,341
Held to Maturity Fair value, Over ten years	19,780,844
Available for Sale Amortized cost, total maturity	9,978,214
Available for Sale Fair value, total maturity	9,997,705
Held to Maturity Amortized cost, total maturity	21,851,975
Held to Maturity Fair value, total maturity	22,805,601
Available for Sale Amortized cost, due in monthly installments	141,184,215
Available for Sale Fair value, due in monthly installments	139,240,211
Held to Maturity Amortized cost, due in monthly installments	0
Held to Maturity Fair value, due in monthly installments	0
Available for Sale, Amortized cost	151,162,429	$ 53,502,875
Available for Sale Fair value Total	149,237,916	54,477,286
Held to Maturity Amortized cost Total	21,851,975	$ 23,078,519
Held to Maturity Fair value Total	$ 22,805,601

Note 4 - Investment Securitie_5

Note 4 - Investment Securities - Gross Unrealized Losses on Continuous Basis for Investment Securities (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Less than 12 months Fair value	$ 124,609,499	$ 10,508,709
Less than 12 months Unrealized losses	2,126,119	71,742
12 months or more Fair value	6,630,634	1,880,459
12 months or more Unrealized losses	278,417	38,958
Total Fair value	131,240,133	12,389,168
Total Unrealized losses	2,404,536	110,700
US States and Political Subdivisions Debt Securities [Member]
Less than 12 months Fair value	1,324,648	719,430
Less than 12 months Unrealized losses	35,720	10,858
12 months or more Fair value	715,650	0
12 months or more Unrealized losses	31,531	0
Total Fair value	2,040,298	719,430
Total Unrealized losses	67,251	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	1,133,398	1,783,807
12 months or more Unrealized losses	22,664	38,419
Total Fair value	1,133,398	1,783,807
Total Unrealized losses	22,664	38,419
Corporate Debt Securities [Member]
Less than 12 months Fair value	5,443,886	502,754
Less than 12 months Unrealized losses	55,541	2,897
12 months or more Fair value	0	0
12 months or more Unrealized losses	0	0
Total Fair value	5,443,886	502,754
Total Unrealized losses	55,541	2,897
Collateralized Mortgage Backed Securities [Member]
Less than 12 months Fair value	117,840,965	9,286,525
Less than 12 months Unrealized losses	2,034,858	57,987
12 months or more Fair value	4,781,586	96,652
12 months or more Unrealized losses	224,222	539
Total Fair value	122,622,551	9,383,177
Total Unrealized losses	$ 2,259,080	$ 58,526

Note 5 - Related Party Transa_3

Note 5 - Related Party Transactions (Details Textual) - USD ($)	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Loans and Leases Receivable, Related Parties, Ending Balance		$ 13,822,556	$ 14,558,882	$ 14,551,236
Related Party Deposit Liabilities		27,187,933	20,611,092
Payments to Fund Long-term Loans to Related Parties		40,754	54,544
The Company Related to Director [Member]
Loans and Leases Receivable, Related Parties, Ending Balance	$ 1,096,000
The Company Related to Director [Member] | Sale Of Real Property To Related Party [Member]
Related Party Transaction, Amounts of Transaction	$ 1,359,613
Unused lines of Credit [Member]
Loans and Leases Receivable, Related Parties, Ending Balance		$ 143,000	$ 330,515

Note 5 - Related Party Transa_4

Note 5 - Related Party Transactions - Related Party Loan Activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Balance, beginning of year	$ 14,558,882	$ 14,551,236
Additions	2,489,000	1,771,200
Amounts collected	(3,225,326)	(1,763,554)
Balance, end of year	$ 13,822,556	$ 14,558,882

Note 6 - Loans (Details Textual

Note 6 - Loans (Details Textual)	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Loans and Leases Receivable, Gross, Total	$ 486,381,167	$ 525,911,047
Loans and Leases Receivable, Deferred Income, Total	719,565	923,995
Financing Receivable, Nonaccrual	4,994,914	4,628,796
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans	219,734	13,395
Impaired Financing Receivable, Related Allowance	$ 281,910	$ 0
Financing Receivable, Modifications, Number of Contracts	0
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts		0
Financing Receivable, Allowance for Credit Loss, Writeoff	$ 18,970	$ 0
Financing Receivable, Deferred Payments, Subsequent Additional Deferrals	$ 4,300,000
Financing Receivable, Percent of Outstanding Loan Balance Additional Deferred	1.00%
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Accretion	$ 1,081,403	227,768
Certain Loans Acquired in Transfer, Nonaccretable Difference	466,587
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Reclassifications from Nonaccretable Difference	460,413	460,413
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Ending Balance	1,629,242	2,250,232
Certain Loans Acquired in Transfer, Accretable Yield	1,405,133
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Amortization	718,875	214,992
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance, Total	101,209,577
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net	100,518,881
Mortgage Loans in Process of Foreclosure, Amount	31,500
Participating Mortgage Loans, Participation Liabilities, Amount	22,100,000	21,000,000
Federal Home Loan Bank of Atlanta [Member]
Loans Pledged as Collateral	111,500,000
Federal Home Loan Bank of Richmond [Member]
Loans Pledged as Collateral	55,400,000
Financial Asset Acquired with Credit Deterioration [Member]
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Accretion	319,805
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Ending Balance	140,608
Nonaccrual Loans [Member]
Impaired Financing Receivable, Related Allowance	281,910	0
Allowance for Loan and Lease Losses Write-offs, Net, Total	27,146	8,176
Commercial Portfolio Segment [Member]
Loans and Leases Receivable, Gross, Total	$ 31,182,206	61,368,105
Financing Receivable, Number of Loans, Nonaccrual Status	1
Financing Receivable, Nonaccrual	$ 152,449	0
Impaired Financing Receivable, Related Allowance	152,449
Financing Receivable, Allowance for Credit Loss, Writeoff	0	0
Commercial Real Estate Portfolio Segment [Member]
Loans and Leases Receivable, Gross, Total	$ 319,185,116	$ 309,284,811
Financing Receivable, Number of Loans, Nonaccrual Status	2	1
Financing Receivable, Nonaccrual	$ 4,810,965	$ 4,407,829
Impaired Financing Receivable, Related Allowance	$ 129,461	$ 0
Number of Loans Classified as TDR	1	2
Financing Receivable, Troubled Debt Restructuring	$ 2,009,967	$ 2,252,316
Financing Receivable, Troubled Debt Restructuring, Premodification		182,656
Financing Receivable, Allowance for Credit Loss, Writeoff	0	0
Residential Portfolio Segment [Member]
Loans and Leases Receivable, Gross, Total	$ 107,436,033	$ 121,327,761
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	$ 39,228	$ 44,733
Financing Receivable, Allowance for Credit Loss, Writeoff	18,970	0
SBA CARES Act Paycheck Protection Program [Member] | Commercial Portfolio Segment [Member]
Loans and Leases Receivable, Gross, Total	9,700,000	32,100,000
Financing Receivable, Loans Originated Amount	22,000,000	38,000,000
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums, Total	1,037,000	$ 1,286,000
Interest Income, Financing Receivable, before Allowance for Credit Loss	909,000
Loans and Leases Receivable, Deferred Income, Total	$ 271,000

Note 6 - Loans - Major Categori

Note 6 - Loans - Major Categories of Loans (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Loans	$ 486,381,167	$ 525,911,047
Allowance for loan losses	3,650,268	3,296,538
Deferred origination fees net of costs	719,565	923,995
Loans and Leases Receivable, Net Amount, Total	482,011,334	521,690,514
Commercial Real Estate Portfolio Segment [Member]
Loans	319,185,116	309,284,811
Construction and Land Development [Member]
Loans	28,221,854	33,641,916
Residential Portfolio Segment [Member]
Loans	107,436,033	121,327,761
Commercial Portfolio Segment [Member]
Loans	31,182,206	61,368,105
Consumer Portfolio Segment [Member]
Loans	$ 355,958	$ 288,454

Note 6 - Loans - Non-accrual Lo

Note 6 - Loans - Non-accrual Loans (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Nonaccrual loans	$ 4,994,914	$ 4,628,796
Commercial Real Estate Portfolio Segment [Member]
Nonaccrual loans	4,810,965	4,407,829
Residential Portfolio Segment [Member]
Nonaccrual loans	31,500	220,967
Commercial Portfolio Segment [Member]
Nonaccrual loans	$ 152,449	$ 0

Note 6 - Loans - Past Due Loans

Note 6 - Loans - Past Due Loans (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Loans	$ 486,381,167	$ 525,911,047
Loans, 90 days past due and still accruing	480,902	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	1,167,812	220,967
Financial Asset, Past Due [Member]
Loans	1,167,812	428,214
Financial Asset, Not Past Due [Member]
Loans	485,213,355	525,482,833
Commercial Real Estate Portfolio Segment [Member]
Loans	319,185,116	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	502,961	0
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Loans	502,961	182,656
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Loans	318,682,155	309,102,155
Construction and Land Development [Member]
Loans	28,221,854	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	28,221,854	33,641,916
Residential Portfolio Segment [Member]
Loans	107,436,033	121,327,761
Loans, 90 days past due and still accruing	217,661	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	249,161	220,967
Residential Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Loans	249,161	245,558
Residential Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Loans	107,186,872	121,082,203
Commercial Portfolio Segment [Member]
Loans	31,182,206	61,368,105
Loans, 90 days past due and still accruing	263,241	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	415,690	0
Commercial Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Loans	415,690	0
Commercial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Loans	30,766,516	61,368,105
Consumer Portfolio Segment [Member]
Loans	355,958	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	$ 355,958	$ 288,454

Note 6 - Loans - Impaired Loans

Note 6 - Loans - Impaired Loans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Unpaid Contractual Principal Balance	$ 7,012,609	$ 6,704,878
Recorded Investment With No Allowance	6,357,199	6,704,878
Recorded Investment With Allowance	655,410	0
Total Recorded Investment	7,012,609	6,704,878
Related Allowance	281,910	0
Average Recorded Investment	6,858,744	4,420,502
Interest Recognized	195,756	347,709
Commercial Real Estate Portfolio Segment [Member]
Unpaid Contractual Principal Balance	6,820,932	6,660,145
Recorded Investment With No Allowance	6,317,971	6,660,145
Recorded Investment With Allowance	502,961	0
Total Recorded Investment	6,820,932	6,660,145
Related Allowance	129,461	0
Average Recorded Investment	6,740,539	4,372,567
Interest Recognized	125,079	345,570
Construction and Land Development [Member]
Unpaid Contractual Principal Balance	0
Recorded Investment With No Allowance	0
Recorded Investment With Allowance	0
Total Recorded Investment	0
Related Allowance	0
Average Recorded Investment	0
Interest Recognized	0
Residential Portfolio Segment [Member]
Unpaid Contractual Principal Balance	39,228	44,733
Recorded Investment With No Allowance	39,228	44,733
Recorded Investment With Allowance	0	0
Total Recorded Investment	39,228	44,733
Related Allowance	0	0
Average Recorded Investment	41,981	47,935
Interest Recognized	1,672	$ 2,139
Commercial Portfolio Segment [Member]
Unpaid Contractual Principal Balance	152,449
Recorded Investment With No Allowance	0
Recorded Investment With Allowance	152,449
Total Recorded Investment	152,449
Related Allowance	152,449
Average Recorded Investment	76,225
Interest Recognized	$ 69,005

Note 6 - Loans - Loans by Credi

Note 6 - Loans - Loans by Credit Grade (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Loans	$ 486,381,167	$ 525,911,047
Excellent [Member]
Loans	9,821,535	32,138,072
Above Average [Member]
Loans	2,101,931	3,147,251
Average [Member]
Loans	129,577,624	173,120,387
Acceptable [Member]
Loans	219,509,802	158,290,924
Pass [Member]
Loans	104,951,530	139,519,909
Special Mention [Member]
Loans	5,288,153	5,951,177
Substandard [Member]
Loans	15,109,965	13,732,062
Doubtful [Member]
Loans	20,627	11,265
Commercial Real Estate Portfolio Segment [Member]
Loans	319,185,116	309,284,811
Commercial Real Estate Portfolio Segment [Member] | Excellent [Member]
Loans	0	0
Commercial Real Estate Portfolio Segment [Member] | Above Average [Member]
Loans	1,225,732	2,010,472
Commercial Real Estate Portfolio Segment [Member] | Average [Member]
Loans	73,924,748	96,178,011
Commercial Real Estate Portfolio Segment [Member] | Acceptable [Member]
Loans	146,174,439	87,860,036
Commercial Real Estate Portfolio Segment [Member] | Pass [Member]
Loans	82,018,890	108,045,730
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member]
Loans	3,345,788	5,951,177
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member]
Loans	12,495,519	9,239,385
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member]
Loans	0	0
Construction and Land Development [Member]
Loans	28,221,854	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	3,853,775	2,962,300
Construction and Land Development [Member] | Acceptable [Member]
Loans	12,452,257	15,944,499
Construction and Land Development [Member] | Pass [Member]
Loans	9,973,457	13,168,844
Construction and Land Development [Member] | Special Mention [Member]
Loans	1,942,365	0
Construction and Land Development [Member] | Substandard [Member]
Loans	0	1,566,273
Construction and Land Development [Member] | Doubtful [Member]
Loans	0	0
Residential Portfolio Segment [Member]
Loans	107,436,033	121,327,761
Residential Portfolio Segment [Member] | Excellent [Member]
Loans	41,152	36,285
Residential Portfolio Segment [Member] | Above Average [Member]
Loans	708,162	1,026,824
Residential Portfolio Segment [Member] | Average [Member]
Loans	46,358,477	63,811,389
Residential Portfolio Segment [Member] | Acceptable [Member]
Loans	48,295,430	40,947,548
Residential Portfolio Segment [Member] | Pass [Member]
Loans	9,570,815	12,579,311
Residential Portfolio Segment [Member] | Special Mention [Member]
Loans	0	0
Residential Portfolio Segment [Member] | Substandard [Member]
Loans	2,461,997	2,926,404
Residential Portfolio Segment [Member] | Doubtful [Member]
Loans	0	0
Commercial Portfolio Segment [Member]
Loans	31,182,206	61,368,105
Commercial Portfolio Segment [Member] | Excellent [Member]
Loans	9,774,570	32,088,058
Commercial Portfolio Segment [Member] | Above Average [Member]
Loans	0	0
Commercial Portfolio Segment [Member] | Average [Member]
Loans	5,292,721	10,037,516
Commercial Portfolio Segment [Member] | Acceptable [Member]
Loans	12,585,396	13,532,170
Commercial Portfolio Segment [Member] | Pass [Member]
Loans	3,377,070	5,710,361
Commercial Portfolio Segment [Member] | Special Mention [Member]
Loans	0	0
Commercial Portfolio Segment [Member] | Substandard [Member]
Loans	152,449	0
Commercial Portfolio Segment [Member] | Doubtful [Member]
Loans	0	0
Consumer Portfolio Segment [Member]
Loans	355,958	288,454
Consumer Portfolio Segment [Member] | Excellent [Member]
Loans	5,813	13,729
Consumer Portfolio Segment [Member] | Above Average [Member]
Loans	168,037	109,955
Consumer Portfolio Segment [Member] | Average [Member]
Loans	147,903	131,171
Consumer Portfolio Segment [Member] | Acceptable [Member]
Loans	2,280	6,671
Consumer Portfolio Segment [Member] | Pass [Member]
Loans	11,298	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	$ 20,627	$ 11,265

Note 6 - Loans - Allowance for

Note 6 - Loans - Allowance for Loan Losses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Allowance for loan losses	$ 3,296,538	$ 2,593,715
Provision for loan losses	330,000	625,000
Charge offs	(18,970)	0
Recoveries	42,700	77,823
Allowance for loan losses	3,650,268	3,296,538
Allowance for loan losses ending balance evaluated for impairment individually	281,910	0
Allowance for loan losses ending balance evaluated for impairment collectively	3,368,358	3,296,538
Outstanding loan balances evaluated for impairment individually	7,012,609	6,875,475
Outstanding loan balances evaluated for impairment purchase credit impaired	482,011,334	521,690,514
Outstanding loan balances evaluated for impairment collectively	478,359,916	516,722,512
Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0
Outstanding loan balances evaluated for impairment purchase credit impaired	1,008,642	2,313,060
Commercial Real Estate Portfolio Segment [Member]
Allowance for loan losses	2,230,129	1,763,861
Provision for loan losses	241,301	418,806
Charge offs	0	0
Recoveries	11,500	47,462
Allowance for loan losses	2,482,930	2,230,129
Allowance for loan losses ending balance evaluated for impairment individually	129,461	0
Allowance for loan losses ending balance evaluated for impairment collectively	2,353,469	2,230,129
Outstanding loan balances evaluated for impairment individually	6,820,932	6,660,245
Outstanding loan balances evaluated for impairment collectively	312,307,359	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
Outstanding loan balances evaluated for impairment purchase credit impaired	56,825	151,453
Construction and Land Development [Member]
Allowance for loan losses	201,692	192,828
Provision for loan losses	(3,345)	(5,536)
Charge offs	0	0
Recoveries	16,200	14,400
Allowance for loan losses	214,547	201,692
Allowance for loan losses ending balance evaluated for impairment individually	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	214,547	201,692
Outstanding loan balances evaluated for impairment individually	0	0
Outstanding loan balances evaluated for impairment collectively	27,838,188	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
Outstanding loan balances evaluated for impairment purchase credit impaired	383,666	1,566,174
Residential Portfolio Segment [Member]
Allowance for loan losses	644,639	478,124
Provision for loan losses	(22,111)	166,515
Charge offs	(18,970)	0
Recoveries	0	0
Allowance for loan losses	603,558	644,639
Allowance for loan losses ending balance evaluated for impairment individually	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	603,558	644,639
Outstanding loan balances evaluated for impairment individually	39,228	215,230
Outstanding loan balances evaluated for impairment collectively	106,828,654	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
Outstanding loan balances evaluated for impairment purchase credit impaired	568,151	595,433
Commercial Portfolio Segment [Member]
Allowance for loan losses	111,390	107,782
Provision for loan losses	129,023	(12,353)
Charge offs	0	0
Recoveries	15,000	15,961
Allowance for loan losses	255,413	111,390
Allowance for loan losses ending balance evaluated for impairment individually	152,449	0
Allowance for loan losses ending balance evaluated for impairment collectively	102,964	111,390
Outstanding loan balances evaluated for impairment individually	152,449	0
Outstanding loan balances evaluated for impairment collectively	31,029,757	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
Outstanding loan balances evaluated for impairment purchase credit impaired	0	0
Consumer Portfolio Segment [Member]
Allowance for loan losses	2,138	4,133
Provision for loan losses	2,232	(1,995)
Charge offs	0	0
Recoveries	0	0
Allowance for loan losses	4,370	2,138
Allowance for loan losses ending balance evaluated for impairment individually	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	4,370	2,138
Outstanding loan balances evaluated for impairment individually	0	0
Outstanding loan balances evaluated for impairment collectively	355,958	288,454
Consumer Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0
Outstanding loan balances evaluated for impairment purchase credit impaired	0	0
Unallocated Financing Receivables [Member]
Allowance for loan losses	106,550	46,987
Provision for loan losses	(17,100)	59,563
Charge offs	0	0
Recoveries	0	0
Allowance for loan losses	89,450	106,550
Allowance for loan losses ending balance evaluated for impairment individually	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	89,450	106,550
Outstanding loan balances evaluated for impairment individually	0	0
Outstanding loan balances evaluated for impairment collectively	0	0
Unallocated Financing Receivables [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0
Outstanding loan balances evaluated for impairment purchase credit impaired	$ 0	$ 0

Note 6 - Loans - Activity for A

Note 6 - Loans - Activity for Accretable Yield of Purchased Loans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Balance at December 31, 2020	$ 2,250,232
Transfer to accretable	460,413	$ 460,413
Accretion	(1,081,403)	(227,768)
Balance at December 31, 2021	$ 1,629,242	$ 2,250,232

Note 7 - Premises and Equipme_3

Note 7 - Premises and Equipment (Details Textual) - USD ($)	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Proceeds from Sale of Property, Plant, and Equipment, Total		$ 1,387,613	$ 0
Property, Plant and Equipment, Net, Ending Balance		6,259,421	7,736,556
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property		44,510	0
Amortization of Intangible Assets, Total		36,509	44,135
Other Assets [Member]
Intangible Assets, Net (Excluding Goodwill), Total		$ 118,614	$ 155,122
Real Property Acquired from Carroll in Merger [Member]
Proceeds from Sale of Property, Plant, and Equipment, Total	$ 1,359,613
Property, Plant and Equipment, Net, Ending Balance	1,322,000
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	$ 37,613

Note 7 - Premises and Equipme_4

Note 7 - Premises and Equipment - Premises and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment, Gross	$ 13,657,753	$ 14,737,059
Accumulated depreciation and amortization	7,398,332	7,000,503
Property, Plant and Equipment, Net	6,259,421	7,736,556
Depreciation and amortization expense	434,434	371,646
Land and Land Improvements [Member]
Property, Plant and Equipment, Gross	2,602,998	3,237,998
Building and Building Improvements [Member]
Property, Plant and Equipment, Gross	$ 6,302,622	6,989,622
Building and Building Improvements [Member] | Minimum [Member]
Property, Plant and Equipment, Estimated Useful Lives (Year)	15 years
Building and Building Improvements [Member] | Maximum [Member]
Property, Plant and Equipment, Estimated Useful Lives (Year)	39 years
Furniture and Fixtures [Member]
Property, Plant and Equipment, Gross	$ 4,752,133	$ 4,509,439
Furniture and Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment, Estimated Useful Lives (Year)	3 years
Furniture and Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment, Estimated Useful Lives (Year)	10 years

Note 8 - Goodwill and Other I_3

Note 8 - Goodwill and Other Intangibles (Details Textual) - Core Deposits [Member]	12 Months Ended
	Dec. 31, 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 Ten	6,246
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

Note 8 - Goodwill and Other I_4

Note 8 - Goodwill and Other Intangibles - Changes in Goodwill and Other Intangibles (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Balance	$ 6,978,208	$ 0
Balance	7,059,408	0
Acquired during the year, goodwill	0	6,978,208
Acquired during the year	0	7,061,490
Amortization, other intangible	(36,509)	(44,135)
Amortization	(8,328)	(2,082)
Balance	6,978,208	6,978,208
Balance	7,051,080	7,059,408
Core Deposits [Member]
Balance, other intangible	81,200	0
Acquired during the year, other intangible	0	83,282
Amortization, other intangible	(8,328)	(2,082)
Balance, other intangible	$ 72,872	$ 81,200

Note 9 - Commitments and Cont_3

Note 9 - Commitments and Contingencies (Details Textual)	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Jun. 30, 2020	May 31, 2018	Jan. 31, 2018	Sep. 30, 2009
Operating Lease, Cost	$ 191,913	$ 195,106
Operating Lease, Weighted Average Remaining Lease Term (Year)	7 years 6 months 7 days
Operating Lease, Weighted Average Discount Rate, Percent	3.25%
Operating Lease, Payments	$ 174,860	161,046
First Community Bankers Insurance Co., LLC [Member]
Liability for Claims and Claims Adjustment Expense, Ending Balance	$ 390,171	$ 315,419
Operating Lease for Hampstead Branch [Member]
Lessee, Operating Lease, Number of Renewal Terms						3
Lessee, Operating Lease, Renewal Term (Year)		5 years
Operating Lease for Certain Facilities of Greenmount Branch [Member]
Lessee, Operating Lease, Renewal Term (Year)					5 years
Lessee, Operating Lease, Term of Contract (Year)					5 years
Operating Lease for the Corporate Headquarters [Member]
Lessee, Operating Lease, Renewal Term (Year)			5 years
Lease for Carroll Lutheran Village Branch [Member]
Lessee, Operating Lease, Renewal Term (Year)				5 years
Lessee, Operating Lease, Term of Contract (Year)				5 years
Lessee, Operating Lease, Additional Renewal Term Number				2

Note 9 - Commitments and Cont_4

Note 9 - Commitments and Contingencies - Operating Lease Assets and Liabilities (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Other Assets [Member]
Operating lease right of use asset	$ 1,093,382	$ 1,242,832
Other Liabilities [Member]
Operating lease liabilities	$ 1,311,570	$ 1,443,966

Note 9 - Commitments and Cont_5

Note 9 - Commitments and Contingencies - Operating Lease Liabilities (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
2022	$ 181,784
2023	187,951
2024	193,443
2025	199,107
2026	204,952
Thereafter	492,394
Total lease payments	1,459,631
Less imputed interest	(148,061)
Other Liabilities [Member]
Present value of operating lease liabilities	$ 1,311,570	$ 1,443,966

Note 9 - Commitment and Conting

Note 9 - Commitment and Contingencies - Outstanding Loan Commitments, Unused Lines of Credit, and Letters of Credit (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Letter of Credit [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	$ 1,470,742	$ 1,891,428
Loan Origination Commitments [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	34,797,370	26,109,020
Unused lines of Credit [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	41,536,430	37,713,573
Unused lines of Credit [Member] | Home Equity Loan [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	12,707,519	13,716,894
Unused lines of Credit [Member] | Commercial Lines [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	28,828,911	23,996,679
Construction and Land Development [Member] | Loan Origination Commitments [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	6,810,353	4,668,250
Commercial Portfolio Segment [Member] | Loan Origination Commitments [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	630,000	1,000,000
Commercial Real Estate Portfolio Segment [Member] | Loan Origination Commitments [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	23,552,400	15,772,020
Residential Portfolio Segment [Member] | Loan Origination Commitments [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	$ 3,804,617	$ 4,668,750

Note 10 - Retirement Plans (Det

Note 10 - Retirement Plans (Details Textual)	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Number of Employees Covered by Life Insurance Policy	12
Other Postretirement Benefits Cost (Reversal of Cost)	$ 6,643	$ 6,356
Employee Benefits and Share-based Compensation	$ 1,718,465	1,658,651
Supplemental Employee Retirement Plan [Member]
Number of Employees Participating in Plan	3
Employee Benefits and Share-based Compensation	$ 168,129	207,858
Profit Sharing Plan [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	4.00%
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	100.00%
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 259,042	$ 237,612

Note 11 - Interest-bearing De_3

Note 11 - Interest-bearing Deposits - Classification of Interest-Bearing Deposits (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
NOW	$ 130,486,845	$ 107,763,512
Money market	90,994,339	83,740,032
Savings	99,959,988	80,890,934
Certificates of deposit, greater than $250,000	34,697,273	38,700,152
Other time deposits	146,100,610	159,151,804
Interest-bearing Deposit Liabilities	$ 502,239,055	$ 470,246,434

Note 11 - Interest-bearing De_4

Note 11 - Interest-bearing Deposits - Certificates of Deposit Maturity Schedule (Details)	Dec. 31, 2021USD ($)
2022	$ 134,504,155
2023	33,911,560
2024	6,968,424
2025	1,486,784
2026	3,926,960
Time Deposits	$ 180,797,883

Note 12 - Borrowed Funds (Detai

Note 12 - Borrowed Funds (Details Textual) - USD ($)	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2025
Proceeds from Issuance of Long-term Debt, Total		$ 0	$ 16,971,874
Unsecured Line of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity		14,500,000
Secured Line of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity		9,000,000
Federal Home Loan Bank Advances [Member]
Line of Credit Facility, Maximum Borrowing Capacity		83,000,000
Federal Reserve Bank Advances [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 25,300,000
Loan to Fund Merger Consideration [Member]
Debt Instrument, Face Amount	$ 17,000,000
Payments of Debt Issuance Costs	28,126
Proceeds from Issuance of Long-term Debt, Total	$ 16,971,874
Debt Instrument, Interest Rate, Stated Percentage	4.10%	4.10%	4.10%
Long-Term Debt, Maturity, Year Five		$ 9,916,667
Loan to Fund Merger Consideration [Member] | Forecast [Member]
Debt Instrument, Periodic Payment, Total				$ 646,472

Note 12 - Borrowed Funds - Outs

Note 12 - Borrowed Funds - Outstanding Advances (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Sep. 30, 2020
Amount	$ 5,414,026	$ 24,753,972
Amount	5,000,000	5,000,000
9/30/2025	$ 16,978,905	$ 16,973,280
Federal Home Loan Bank advances	1.01%	0.84%
Investment securities underlying the repurchase agreements at December 31: Carrying value	$ 7,062,928	$ 34,958,212
Loans pledged to the Federal Home Loan Bank at December 31: Carrying value - loans	111,547,027	115,282,801
Loans pledged to the Federal Reserve Bank at December 31: Carrying value	$ 55,399,031	$ 76,027,628
Securities Sold under Agreements to Repurchase [Member]
Interest Rate	0.43%	1.15%
Securities sold under repurchase agreements	0.31%	0.61%
Federal Home Loan Bank Advances at 1.00% Due in 2025 [Member]
Maturity date	Mar. 30, 2025
Interest Rate	1.00%
Amount	$ 5,000,000	$ 5,000,000
Federal Home Loan Bank advances	1.00%	1.00%
Loan to Fund Merger Consideration [Member]
Interest Rate	4.10%
9/30/2025	$ 16,978,905	$ 16,973,280
Long-term debt	4.10%	4.10%
Long-term debt	4.10%	4.10%	4.10%

Note 13 - Income Taxes (Details

Note 13 - Income Taxes (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)
Income Tax Examination, Penalties and Interest Expense, Total	$ 3
Open Tax Year	2018 2019 2020 2021

Note 13 - Income Taxes - Compon

Note 13 - Income Taxes - Components of Income Tax Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Federal	$ 1,798,535	$ 387,193
State	794,348	251,349
Current Income Tax Expense (Benefit), Total	2,592,883	638,542
Deferred income taxes	(160,070)	(151,331)
Income Tax Expense (Benefit), Total	$ 2,432,813	$ 487,211

Note 13 - Income Taxes - Comp_2

Note 13 - Income Taxes - Components of Deferred Tax Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Depreciation	$ 8,291	$ (18,006)
Provision for loan losses	(141,488)	(171,984)
Other real estate owned allowance for loss	(46,561)	0
Nonaccrual interest	(83,961)	(2,752)
Prepaid captive insurance premium	(14,375)	76,855
Write-down of equity securities	(4,227)	2,893
Lease liability, net of right of use asset	(4,693)	(9,372)
Purchase accounting adjustments	175,037	29,982
Post-retirement benefits	(48,093)	(58,947)
Deferred Income Tax Expense (Benefit), Total	$ (160,070)	$ (151,331)

Note 13 - Income Taxes - Comp_3

Note 13 - Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Allowance for loan losses	$ 951,348	$ 809,860
Other real estate owned allowance for loss	434,628	388,066
Capital loss carryover	5,300	5,300
Nonaccrual interest	88,581	4,620
Post-retirement benefits	651,482	603,390
Purchase accounting adjustments	235,142	392,341
Unrealized loss on securities available for sale	468,726	0
Lease liability, net of right of use asset	60,040	55,347
Deferred Tax Assets, Net of Valuation Allowance, Total	2,895,247	2,258,924
Deferred tax liabilities
Prepaid captive insurance premium	357,518	371,894
Depreciation	348,900	322,770
Unrealized gain on securities available for sale	0	328,986
Other	11,379	15,606
Deferred Tax Liabilities, Total	717,797	1,039,256
Net deferred tax asset	$ 2,177,450	$ 1,219,668

Note 13 - Income Taxes - Reconc

Note 13 - Income Taxes - Reconciliation of Effective Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Statutory federal income tax rate	21.00%	21.00%
Federal tax-exempt income	(4.40%)	(12.30%)
State income taxes, net of federal income tax benefit	5.80%	4.50%
Nondeductible expenses	0.00%	2.20%
Other	0.60%	0.00%
Effective Income Tax Rate Reconciliation, Percent, Total	23.00%	15.40%

Note 14 - Capital Standards (De

Note 14 - Capital Standards (Details Textual)	Dec. 31, 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 14 - Capital Standards - C

Note 14 - Capital Standards - Capital Requirements (Details) $ in Thousands	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Capital	$ 69,957	$ 63,400
Capital to Risk Weighted Assets	0.1324	0.1262
Capital Required for Capital Adequacy	$ 55,471	$ 52,732
Capital Required for Capital Adequacy to Risk Weighted Assets	0.1050	0.1050
Capital Required to be Well Capitalized	$ 52,830	$ 50,221
Capital Required to be Well Capitalized to Risk Weighted Assets	0.10	0.1000
Tier One Risk Based Capital	$ 66,307	$ 60,104
Tier One Risk Based Capital to Risk Weighted Assets	0.1255	0.1197
Tier One Risk Based Capital Required for Capital Adequacy	$ 44,905	$ 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	$ 42,264	$ 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	$ 66,307	$ 60,104
Common Equity Tier One Capital Ratio	0.1255	0.1197
Common Equity Tier One Capital Required for Capital Adequacy	$ 36,981	$ 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	$ 34,339	$ 32,644
Common Equity Tier One Capital Required to be Well Capitalized Ratio	0.065	0.0650
Tier One Leverage Capital	$ 66,307	$ 60,104
Tier One Leverage Capital to Average Assets	0.0927	0.0905
Tier One Leverage Capital Required for Capital Adequacy	$ 28,614	$ 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	$ 35,767	$ 33,211
Tier One Leverage Capital Required to be Well Capitalized to Average Assets	0.05	0.0500

Note 15 - Fair Value (Details T

Note 15 - Fair Value (Details Textual)	12 Months Ended
	Dec. 31, 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 15 - Fair Value - Summariz

Note 15 - Fair Value - Summarizes Financial Assets Measured at Fair Value (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Fair value, available for sale	$ 149,237,916	$ 54,477,286
Equity security at fair value	543,605	552,566
Fair Value, Recurring [Member]
Fair value, available for sale	149,237,916	54,477,286
Equity security at fair value	543,605	552,566
Fair Value, Nonrecurring [Member]
Other real estate owned, net	1,242,365	1,411,605
Impaired loans	373,500
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	0	0
Equity security at fair value	543,605	552,566
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member]
Other real estate owned, net	0	0
Impaired loans	0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	148,587,916	54,377,286
Equity security at fair value	0	0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member]
Other real estate owned, net	0	0
Impaired loans	0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	650,000	100,000
Equity security at fair value	0	0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member]
Other real estate owned, net	1,242,365	1,411,605
Impaired loans	373,500
US States and Political Subdivisions Debt Securities [Member]
Fair value, available for sale	763,498	986,532
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	763,498	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	763,498	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	1,397,762	1,783,807
SBA Pools [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	1,397,762	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	1,397,762	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	9,234,207	6,797,431
Corporate Debt Securities [Member] | Fair Value, Recurring [Member]
Fair value, available for sale		6,797,431
Corporate Debt Securities [Member] | Fair Value, Nonrecurring [Member]
Fair value, available for sale	9,234,207
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale		0
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member]
Fair value, available for sale	0
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale		6,697,431
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member]
Fair value, available for sale	8,584,207
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale		100,000
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member]
Fair value, available for sale	650,000
Collateralized Mortgage Backed Securities [Member]
Fair value, available for sale	137,842,449	44,909,516
Collateralized Mortgage Backed Securities [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	137,842,449	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	137,842,449	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 15 - Fair Value - Reconcil

Note 15 - Fair Value - Reconciliation of Level 3 Inputs (Details) - Other Real Estate Owned [Member]	12 Months Ended
	Dec. 31, 2021USD ($)
Fair value beginning balance	$ 100,000
Additions	650,000
Principal payments received	(100,000)
Fair value ending balance	$ 650,000

Note 15 - Fair Value - Estimate

Note 15 - Fair Value - Estimated Fair Value of Financial Instruments (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Fair value, held to maturity	$ 22,805,601
Securities held to maturity	22,805,601
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	26,462,106	$ 40,975,670
Noninterest-bearing deposits	124,175,615	103,155,113
Securities sold under repurchase agreements	5,414,026	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	1,609,063	2,057,491
Fair value, held to maturity	21,851,975	19,904,059
Mortgage loans held for sale	126,500	1,673,350
Restricted stock, at cost	675,400	900,500
Bank owned life insurance	11,556,163	11,297,342
Securities held to maturity	21,851,975	19,904,059
Interest-bearing deposits	502,239,055	470,246,434
Federal Home Loan Bank advances	5,000,000	5,000,000
Long-term debt	16,978,905	16,973,280
Accrued interest payable	295,910	409,622
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value, held to maturity	3,073,040	3,174,460
Securities held to maturity	3,073,040	3,174,460
Loans, net	482,011,334	521,690,514
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	26,462,106	40,975,670
Noninterest-bearing deposits	124,175,615	103,155,113
Securities sold under repurchase agreements	5,414,026	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	1,609,063	2,057,491
Fair value, held to maturity	22,805,601	21,070,326
Mortgage loans held for sale	128,829	1,705,781
Restricted stock, at cost	675,400	900,500
Bank owned life insurance	11,556,163	11,297,342
Securities held to maturity	22,805,601	21,070,326
Interest-bearing deposits	502,396,172	474,096,434
Federal Home Loan Bank advances	4,967,000	5,136,000
Long-term debt	17,298,111	17,018,416
Accrued interest payable	295,910	409,622
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value, held to maturity	3,073,040	3,174,460
Securities held to maturity	3,073,040	3,174,460
Loans, net	$ 487,012,970	$ 527,132,047

Note 16 - Parent Company Fina_3

Note 16 - Parent Company Financial Information - Balance Sheets (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other assets	$ 5,522,877	$ 2,336,607
Assets	716,677,255	677,317,082
9/30/2025	16,978,905	16,973,280
Accrued interest payable	295,910	409,622
Liabilities, Total	660,055,797	625,587,599
Common stock, par value $.01 per share, authorized 5,000,000 shares; issued and outstanding 3,037,137 in 2021 and 3,011,255 shares in 2020	30,372	30,113
Additional paid-in capital	28,857,422	28,294,139
Retained earnings	29,128,600	22,698,954
Accumulated other comprehensive income	(1,394,936)	706,277
Stockholders' Equity Attributable to Parent, Ending Balance	56,621,458	51,729,483	$ 49,453,516
Liabilities and Equity, Total	716,677,255	677,317,082
Parent Company [Member]
Cash and cash equivalents	930,354	200,925
Investment in subsidiaries	72,662,265	68,645,516
Other assets	185,866	36,380
Assets	73,778,485	68,882,821
9/30/2025	16,978,905	16,973,280
Accrued interest payable	178,122	180,058
Liabilities, Total	17,157,027	17,153,338
Common stock, par value $.01 per share, authorized 5,000,000 shares; issued and outstanding 3,037,137 in 2021 and 3,011,255 shares in 2020	30,372	30,113
Additional paid-in capital	28,857,422	28,294,139
Retained earnings	29,128,600	22,698,954
Accumulated other comprehensive income	(1,394,936)	706,277
Stockholders' Equity Attributable to Parent, Ending Balance	56,621,458	51,729,483
Liabilities and Equity, Total	$ 73,778,485	$ 68,882,821

Note 16 - Parent Company Fina_4

Note 16 - Parent Company Financial Information - Balance Sheets (Details) (Parentheticals) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01	$ 0.01
Common Stock, Shares Authorized (in shares)	5,000,000	5,000,000
Common Stock, Shares, Issued (in shares)	3,037,137	3,011,255
Common Stock, Shares, Outstanding (in shares)	3,037,137	3,011,255
Parent Company [Member]
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01	$ 0.01
Common Stock, Shares Authorized (in shares)	5,000,000	5,000,000
Common Stock, Shares, Issued (in shares)	3,037,137	3,011,255
Common Stock, Shares, Outstanding (in shares)	3,037,137	3,011,255

Note 16 - Parent Company Fina_5

Note 16 - Parent Company Financial Information - Statements of Income (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Total income	$ 25,680,403	$ 20,763,180
Noninterest expense	14,128,599	15,582,408
Income taxes (benefit)	2,432,813	487,211
Net Income	8,149,606	2,682,003
Parent Company [Member]
Cash dividends from subsidiaries	2,595,000	9,452,045
Total income	2,595,000	9,452,045
Interest expense - long-term debt	(712,306)	(181,465)
Noninterest expense	537	521
Income before income taxes and equity in undistributed income of subsidiaries	1,882,157	9,270,059
Income taxes (benefit)	(149,486)	(37,812)
Income before before equity in undistributed income of subsidiaries	2,031,643	9,307,871
Dividends in excess of income of bank subsidiary	0	(6,759,815)
Dividends in excess of income of insurance subsidiary	(100,019)	0
Equity in undistributed income of bank subsidiary	6,217,982	0
Equity in undistributed income of insurance subsidiary	0	133,947
Net Income	$ 8,149,606	$ 2,682,003

Note 16 - Parent Company Fina_6

Note 16 - Parent Company Financial Information - Statements of Cash Flows (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Net Income	$ 8,149,606	$ 2,682,003
(Decrease) increase in accrued interest payable	(113,712)	63,408
Amortization of debt issuance costs	5,625	1,406
Cash provided by operating activities	11,704,730	4,452,270
Cash paid for the acquisition of Carroll Bancorp, Inc., net of cash acquired	0	(19,366,118)
Cash used by investing activities	(58,984,893)	(45,700,983)
Proceeds from Issuance of Long-term Debt, Total	0	16,971,874
Dividends paid, net of reinvestments	(1,156,418)	(1,069,689)
Cash provided by (used in) financing activities	32,766,599	73,103,031
Net increase in cash and cash equivalents	(14,513,564)	31,854,318
Cash and cash equivalents at beginning of period	40,975,670	9,121,352
Cash and cash equivalents at end of period	26,462,106	40,975,670
Parent Company [Member]
Net Income	8,149,606	2,682,003
Equity in undistributed income of insurance subsidiary	0	(133,947)
Equity in undistributed income of bank subsidiary	(6,217,982)	0
(Decrease) increase in accrued interest payable	(1,935)	180,058
Amortization of debt issuance costs	5,625	1,406
Income tax receivable	(149,486)	(37,812)
Dividend received in excess of income of insurance subsidiary	100,019	0
Dividend received in excess of income of bank subsidiary	0	6,759,815
Cash provided by operating activities	1,885,847	9,451,523
Contribution of capital to subsidiaries	0	(690,000)
Cash paid for the acquisition of Carroll Bancorp, Inc., net of cash acquired	0	(24,526,935)
Cash used by investing activities	0	(25,216,935)
Proceeds from Issuance of Long-term Debt, Total	0	16,971,874
Dividends paid, net of reinvestments	(1,156,418)	(1,069,689)
Cash provided by (used in) financing activities	(1,156,418)	15,902,185
Net increase in cash and cash equivalents	729,429	136,773
Cash and cash equivalents at beginning of period	200,925	64,152
Cash and cash equivalents at end of period	$ 930,354	$ 200,925