Farmers and Merchants Bancshares (FMFG) 10-Q 13 May 22 2022 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2022	May 12, 2022
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	Q1
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	000-55756
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	81-3605835
Entity Address, Address Line One	4510 Lower Beckleysville Road, Suite H
Entity Address, City or Town	Hampstead
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	21074
City Area Code	410
Local Phone Number	374-1510
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		3,037,137

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Cash and due from banks	$ 26,506,362	$ 25,258,932
Federal funds sold and other interest-bearing deposits	632,831	1,203,174
Cash and cash equivalents	27,139,193	26,462,106
Certificates of deposit in other banks	350,000	350,000
Securities available for sale, at fair value	145,716,435	149,237,916
Securities held to maturity, at cost	21,343,559	21,851,975
Equity security at fair value	518,091	543,605
Restricted stock, at cost	695,000	675,400
Mortgage loans held for sale	285,000	126,500
Loans, less allowance for loan losses of $3,654,318 and $3,650,268	483,908,857	482,011,334
Premises and equipment, net	6,268,709	6,259,421
Accrued interest receivable	1,562,014	1,609,063
Deferred income taxes, net	4,632,138	2,177,450
Other real estate owned, net	1,242,365	1,242,365
Bank owned life insurance	11,609,153	11,556,163
Goodwill and other intangibles, net	7,048,998	7,051,080
Other assets	5,604,129	5,522,877
Assets, Total	717,923,641	716,677,255
Deposits:
Noninterest-bearing	132,629,508	124,175,615
Interest-bearing	501,151,145	502,239,055
Total deposits	633,780,653	626,414,670
Securities sold under repurchase agreements	4,083,707	5,414,026
Federal Home Loan Bank of Atlanta advances	5,000,000	5,000,000
Long-term debt, net of issuance costs	16,553,090	16,978,905
Accrued interest payable	276,573	295,910
Other liabilities	6,023,131	5,952,286
Liabilities, Total	665,717,154	660,055,797
Stockholders' equity:
Common stock, par value $.01 per share, authorized 5,000,000 shares; issued and outstanding 3,037,137 in 2022 and 2021	30,372	30,372
Additional paid-in capital	28,857,422	28,857,422
Retained earnings	31,179,402	29,128,600
Accumulated other comprehensive loss	(7,860,709)	(1,394,936)
Stockholders' Equity Attributable to Parent, Ending Balance	52,206,487	56,621,458
Liabilities and Equity, Total	$ 717,923,641	$ 716,677,255

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Allowance for loan losses	$ 3,654,318	$ 3,650,268
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	3,037,137
Common stock, share outstanding (in shares)	3,037,137	3,037,137

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Interest income:
Loans, including fees	$ 5,683,362	$ 5,984,657
Investment securities - taxable	644,461	211,224
Investment securities - tax exempt	149,487	160,574
Federal funds sold and other interest earning assets	12,415	14,137
Total interest income	6,489,725	6,370,592
Interest expense:
Deposits	338,560	595,520
Securities sold under repurchase agreements	3,251	13,511
Federal Home Loan Bank advances and other borrowings	183,825	188,106
Total interest expense	525,636	797,137
Net interest income	5,964,089	5,573,455
Provision for loan losses	0	120,000
Net interest income after provision for loan losses	5,964,089	5,453,455
Noninterest income:
Mortgage banking income	122,688	256,267
Bank owned life insurance income	52,990	70,119
Fair value adjustment on equity security	(26,817)	(8,669)
Gain on sale of SBA loans	93,600	0
Gain on premium call of debt security	0	8,569
Total noninterest income	495,807	556,945
Noninterest expense:
Salaries	1,740,395	1,626,338
Employee benefits	511,792	472,888
Occupancy	228,427	250,212
Furniture and equipment	214,615	196,683
Other	1,104,369	849,003
Total noninterest expense	3,799,598	3,395,124
Income before income taxes	2,660,298	2,615,276
Income taxes	609,496	585,701
Net income	$ 2,050,802	$ 2,029,575
Earnings per share - basic and diluted (in dollars per share)	$ 0.68	$ 0.67
Deposit Account [Member]
Noninterest income:
Noninterest revenue	$ 181,466	$ 159,191
Financial Service, Other [Member]
Noninterest income:
Noninterest revenue	$ 71,880	$ 71,468

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net income	$ 2,050,802	$ 2,029,575
Other comprehensive loss, net of income taxes:
Net unrealized loss arising during the period	(8,920,463)	(899,330)
Reclassification adjustment for realized gains included in net income	0	8,569
Total unrealized loss on investment securities available for sale	(8,920,463)	(890,761)
Income tax benefit	(2,454,690)	(245,115)
Total other comprehensive loss	(6,465,773)	(645,646)
Total comprehensive (loss) income	$ (4,414,971)	$ 1,383,929

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 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	2,029,575	0	2,029,575
Unrealized loss on securities available for sale net of income tax benefit	$ 0	0	0	(645,646)	(645,646)
Balance (in shares) at Mar. 31, 2021	3,011,255
Balance at Mar. 31, 2021	$ 30,113	28,294,139	24,728,529	60,631	53,113,412
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
Net income	0	0	2,050,802	0	2,050,802
Unrealized loss on securities available for sale net of income tax benefit	$ 0	0	0	(6,465,773)	(6,465,773)
Balance (in shares) at Mar. 31, 2022	3,037,137
Balance at Mar. 31, 2022	$ 30,372	$ 28,857,422	$ 31,179,402	$ (7,860,709)	$ 52,206,487

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Unrealized gain (loss) on securities available for sale, tax expense (benefit)	$ 2,454,690	$ 245,115

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Reconciliation of net income to net cash provided by operating activities
Net income	$ 2,050,802	$ 2,029,575
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	116,110	117,030
Provision for loan losses	0	120,000
Amortization of right of use asset and lease liability, net	2,177	0
Lease expense in excess of rent paid	0	7,780
Equity security dividends reinvested	(1,303)	(1,816)
Unrealized loss on equity security	26,817	8,669
Gain on sale of SBA loans	(93,600)	0
Gain on sale of premises and equipment	0	(37,613)
Gain on premium call of debt security	0	(8,569)	$ 0
Amortization of debt issuance costs	1,406	1,407
Amortization of premiums and accretion of discounts, net	(212,443)	69,559
Bank owned life insurance cash surrender value	(52,990)	(70,119)
Increase (decrease) in
Deferred loan fees and costs, net	(112,930)	410,480
Accrued interest payable	(19,337)	(51,661)
Other liabilities	106,030	27,154
Decrease (increase) in
Mortgage loans held for sale	(158,500)	(9,350)
Accrued interest receivable	47,049	174,062
Other assets	(127,624)	337,252
Cash provided by operating activities	1,571,664	3,123,840
Cash flows from investing activities
Proceeds from maturity and call of securities, Available for sale	6,232,740	10,454,122
Proceeds from maturity and call of securities, Held to maturity	535,000	1,580,000
Available for sale	(11,776,091)	(31,974,384)
Purchase of securities, Held to maturity	0	(342,061)
Redemption of certificates of deposit	0	500,000
Loans made to customers, net of principal collected	(2,067,575)	1,932,622
Proceeds from sale of loans	664,650	0
Redemption (purchase) of stock in FHLB of Atlanta	(19,600)	225,100
Purchase of bank owned life insurance	0	(3,700,000)
Proceeds from sale of premises and equipment	0	1,359,613
Purchases of premises, equipment and software	(116,388)	(36,909)
Cash used in investing activities	(6,547,264)	(20,001,897)
Cash flows from financing activities
Noninterest-bearing deposits	8,453,893	18,770,755
Interest-bearing deposits	(1,043,666)	11,151,227
Securities sold under repurchase agreements	(1,330,319)	(12,105,703)
Long-term debt principal payments	(427,221)	0
Cash provided by financing activities	5,652,687	17,816,279
Net increase in cash and cash equivalents	677,087	938,222
Cash and cash equivalents at beginning of period	26,462,106	40,975,670	40,975,670
Cash and cash equivalents at end of period	$ 27,139,193	$ 41,913,892	$ 26,462,106

Note 1 - Principles of Consolid

Note 1 - Principles of Consolidation	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Principles of consolidation The consolidated financial statements include the accounts of Farmers and Merchants Bancshares, Inc. and its wholly owned subsidiaries, Farmers and Merchants Bank (the “Bank”), and Series Protected Cell FCB- 4 one

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	2. Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and in accordance with the instructions to Form 10 8 03 X. not three March 31, 2022 not may December 31, 2022 December 31, 2021, 10 December 31, 2021. Summary of Significant Accounting Policies The accounting and reporting policies reflected in the financial statements conform to accounting principles generally accepted in the United States of America and to general practices within the banking industry. Management makes estimates and assumptions that affect the reported amounts of assets, liabilities, and disclosures of commitments and contingent liabilities at the balance sheet date, and revenues and expenses during the year. These estimates and assumptions may Loans and allowance for loan losses Loans are stated at the current amount of unpaid principal, adjusted for deferred origination costs, deferred origination fees, premiums and discounts on acquired loans, and the allowance for loan losses. Interest on loans is accrued based on the principal amounts outstanding. Origination fees and costs, along with premiums and accretable discounts, are amortized to income over the terms of loans. Past due status is based on the contractual terms of the loan. Management may 90 not The allowance for loan losses represents an amount which, in management’s judgment, will be adequate to absorb probable losses on existing loans and other extensions of credit that may three not The allowances established for probable 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 meet the specific criteria of 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 discount. These loans are accounted for under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 310 30, Loans acquired through business combinations that do not 310 30 310 20, no no Goodwill and other intangible assets Goodwill is calculated as the purchase premium, if any, after adjusting for the fair value of net assets acquired in purchase transactions. Goodwill is not Recent Accounting Pronouncements In June 2016, 2016‑13, 2019 10 326 815 842 January 1, 2023 third 2022 March 31, 2022 In March 2020, 2020 04, 848 2020 04 March 12, 2020 December 31, 2022. In March 2022, No. 2022 02, 326 2022 02 2016 13 2016 13, 2022 02 December 15, 2022, not 2016 13, 2022 02 2016 13. 2016 13. may 2022 02 The accounting policies adopted by management are consistent with authoritative GAAP and are consistent with those followed by our peers.

Note 3 - Investment Securities

Note 3 - Investment Securities	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	3. Investment Securities Investments in debt securities are summarized as follows: Amortized Unrealized Unrealized Fair March 31, 2022 cost gains losses value Available for sale State and municipal $ 752,413 $ 730 $ 5,780 $ 747,363 SBA pools 1,300,202 1,682 22,049 1,279,835 Corporate bonds 10,960,028 15,803 347,754 10,628,077 Mortgage-backed securities 143,548,768 27,105 10,514,713 133,061,160 $ 156,561,411 $ 45,320 $ 10,890,296 $ 145,716,435 Held to maturity State and municipal $ 21,343,559 $ 156,037 $ 584,827 $ 20,914,769 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 Contractual maturities, shown below, will differ from actual maturities because borrowers and issuers may Available for Sale Held to Maturity Amortized Fair Amortized Fair March 31, 2022 cost value cost value Within one year $ 752,350 $ 754,818 $ - $ - Over one to five years 3,628,616 3,560,563 800,729 800,815 Over five to ten years 7,331,475 7,060,059 1,782,321 1,797,278 Over ten years - - 18,760,509 18,316,676 11,712,441 11,375,440 21,343,559 20,914,769 Mortgage-backed securities and SBA pools, due in monthly installments 144,848,970 134,340,995 - - $ 156,561,411 $ 145,716,435 $ 21,343,559 $ 20,914,769 Securities with a carrying value of $16,852,733 and $14,307,989 as of March 31, 2022 December 31, 2021, During the three March 31, 2022, no three March 31, 2021, The following table sets forth the Company’s gross unrealized losses on a continuous basis for investments in debt securities, by category and length of time, at March 31, 2022 December 31, 2021. March 31, 2022 Less than 12 months 12 months or more Total Description of investments Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss State and municipal $ 7,738,761 $ 412,339 $ 924,219 $ 178,268 $ 8,662,980 $ 590,607 SBA pools - - 1,039,389 22,049 1,039,389 22,049 Corporate bonds 8,201,181 347,754 - - 8,201,181 347,754 Mortgage-backed securities 103,977,709 8,212,229 19,134,680 2,302,484 123,112,389 10,514,713 Total $ 119,917,651 $ 8,972,322 $ 21,098,288 $ 2,502,801 $ 141,015,939 $ 11,475,123 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 Management has the ability and intent to hold securities classified as held to maturity until they mature, at which time the Company should receive full value for the securities. As of March 31, 2022 December 31, 2021, not March 31, 2022 December 31, 2021, not March 31, 2022, At March 31, 2022, none not

Note 4 - Loans

Note 4 - Loans	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	4. Loans Major categories of loans are as follows: March 31, December 31, 2022 2021 Real estate: Commercial $ 329,179,712 $ 319,185,116 Construction and land development 20,325,400 28,221,854 Residential 111,993,662 107,436,033 Commercial 26,374,885 31,182,206 Consumer 296,151 355,958 488,169,810 486,381,167 Less: Allowance for loan losses 3,654,318 3,650,268 Deferred origination fees net of costs 606,635 719,565 $ 483,908,857 $ 482,011,334 Commercial loans in the table above include $4.2 million and $9.7 million of Paycheck Protection Program (“PPP”) loans as of March 31, 2022 December 31, 2021, 100% 2021 2020, three March 31, 2022 2021. March 31, 2022, not Nonaccrual loans, segregated by class of loans, were as follows: March 31, December 31, 2022 2021 Commercial real estate $ 4,780,965 $ 4,810,965 Residential real estate 31,500 31,500 Commercial 152,449 152,449 $ 4,964,914 $ 4,994,914 At March 31, 2022, two one one three March 31, 2022 March 31, 2022. At December 31, 2021, two one 2021 December 31, 2021. An age analysis of past due loans, segregated by type of loan, is as follows: 90 Days Past Due 90 30 - 59 Days 60 - 89 Days or More Total Total Days or More Past Due Past Due Past Due Past Due Current Loans and Accruing March 31, 2022 Real estate: Commercial $ - $ - $ 502,961 $ 502,961 $ 328,676,751 $ 329,179,712 $ - Construction and land development - - - - 20,325,400 20,325,400 - Residential - 216,082 31,500 247,582 111,746,080 111,993,662 - Commercial - - 152,449 152,449 26,222,436 26,374,885 - Consumer - - - - 296,151 296,151 - Total $ - $ 216,082 $ 686,910 $ 902,992 $ 487,266,818 $ 488,169,810 $ - 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 Impaired loans, segregated by class of loans with average recorded investment and interest recognized for the three March 31, 2022 December 31, 2021, Unpaid Recorded Recorded Contractual Investment Investment Total Average Principal With No With Recorded Related Recorded Interest Balance Allowance Allowance Investment Allowance Investment Recognized March 31, 2022 Commercial real estate $ 6,781,030 $ 6,278,069 $ 502,961 $ 6,781,030 $ 129,461 $ 6,800,981 $ 25,054 Residential real estate 37,341 37,341 - 37,341 - 38,285 - Commercial 152,449 - 152,449 152,449 152,449 152,449 378 $ 6,970,820 $ 6,315,410 $ 655,410 $ 6,970,820 $ 281,910 $ 6,991,715 $ 25,432 December 31, 2021 Commercial real estate $ 6,820,932 $ 6,317,971 $ 502,961 $ 6,820,932 $ 129,461 $ 6,740,539 $ 125,079 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 $ 6,858,745 $ 195,756 Impaired loans include TDRs which are loans that have been modified to provide economic concessions to borrowers who have experienced financial difficulties. These concessions typically result from the Company’s loss mitigation activities and could include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance, or other actions. Certain TDRs are classified as nonperforming at the time of restructure and may six At March 31, 2022, two one 2022. March 31, 2022, three no At December 31, 2021, no Section 4013 310 40 19 March 1, 2020 January 1, 2022 60 19 not 30 December 31, 2019 April 2020, i.e. six 19 not 310 40. 19 March 31, 2022, one three March 31, 2022 not As part of our portfolio risk management, the Company assigns a risk grade to each loan. The factors used to determine the grade are the payment history of the loan and the borrower, the value of the collateral and net worth of the guarantor, and cash flow projections of the borrower. Excellent, Above Average, Average and Acceptable grades are assigned to loans with limited or no A description of the general characteristics of loans characterized as watch list or classified is as follows: Pass/Watch Loans graded as Pass/Watch are secured by generally acceptable assets which reflect above-average risk. The loans warrant closer scrutiny by management than is routine, due to circumstances affecting the borrower, the borrower’s industry, or the overall economic environment. Borrowers may Special Mention A special mention loan has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may not not Borrowers may may may Substandard A substandard loan is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard loans have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not Borrowers may Doubtful A doubtful loan has all the weaknesses inherent in a substandard loan with the added characteristic that the weaknesses, based on currently existing facts, conditions, and values, make collection or liquidation in full highly questionable and improbable. Loans by credit grade, segregated by loan type, are as follows: Above Pass Special March 31, 2022 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ 98,984 $ 69,394,973 $ 161,821,022 $ 85,424,219 $ 3,217,512 $ 9,223,002 $ - $ 329,179,712 Construction and land development - - 3,711,277 10,967,190 5,646,933 - - - 20,325,400 Residential 34,250 611,328 45,120,441 56,566,253 7,270,671 - 2,390,719 - 111,993,662 Commercial 4,312,074 - 5,666,167 12,613,235 3,630,960 - 152,449 - 26,374,885 Consumer 4,553 142,436 118,739 1,249 10,293 - 18,881 - 296,151 $ 4,350,877 $ 852,748 $ 124,011,597 $ 241,968,949 $ 101,983,076 $ 3,217,512 $ 11,785,051 $ - $ 488,169,810 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 The principal balance of loans in the Pass/Watch category as of March 31, 2022 December 31, 2021 19. The Company’s allowance for loan losses is based on management’s evaluation of the risks inherent in the Company’s loan portfolio and the general economy. The allowance for loan may The following table details activity in the allowance for loan losses by portfolio for the three March 31, 2022 2021 December 31, 2021. one not Provision for (recovery Allowance for loan losses ending balance evaluated for impairment: Outstanding loan balances evaluated for impairment: Beginning of) Charge Ending Purchase Credit Purchase Credit March 31, 2022 balance loan losses offs Recoveries balance Individually Impaired Collectively Individually Impaired Collectively Real estate: Commercial $ 2,482,930 $ 63,130 $ - $ - $ 2,546,060 $ 129,461 $ - $ 2,416,599 $ 6,781,030 $ 32,991 $ 322,365,691 Construction and land development 214,547 (97,873 ) - 4,050 120,724 - - 120,724 - 379,349 19,946,051 Residential 603,558 51,081 - - 654,639 - - 654,639 37,341 244,789 111,711,532 Commercial 255,413 12,276 - - 267,689 152,449 - 115,240 152,449 - 26,222,436 Consumer 4,370 (738 ) - - 3,632 - - 3,632 - - 296,151 Unallocated 89,450 (27,876 ) - - 61,574 - - 61,574 - - - $ 3,650,268 $ - $ - $ 4,050 $ 3,654,318 $ 281,910 $ - $ 3,372,408 $ 6,970,820 $ 657,129 $ 480,541,861 Provision for (recovery Allowance for loan losses ending balance evaluated for impairment: Outstanding loan balances evaluated for impairment: Beginning of) Charge Ending Purchase Credit Purchase Credit March 31, 2021 balance loan losses offs Recoveries balance Individually Impaired Collectively Individually Impaired Collectively Real estate: Commercial $ 2,230,129 $ 323,768 $ - $ 2,500 $ 2,556,397 $ - $ - $ 2,556,397 $ 6,644,339 $ 45,233 $ 305,552,307 Construction and land development 201,692 (39,269 ) - 4,050 166,473 - - 166,473 - 1,554,070 33,177,080 Residential 644,639 (154,755 ) - - 489,884 - - 489,884 43,371 590,847 116,066,706 Commercial 111,390 (12,143 ) - - 99,247 - - 99,247 - - 60,064,503 Consumer 2,138 320 - - 2,458 - - 2,458 - - 258,484 Unallocated 106,550 2,079 - - 108,629 - - 108,629 - - - $ 3,296,538 $ 120,000 $ - $ 6,550 $ 3,423,088 $ - $ - $ 3,423,088 $ 6,687,710 $ 2,190,177 $ 515,119,080 Provision for (recovery Allowance for loan losses ending balance evaluated for impairment: Outstanding loan balances evaluated for impairment: Beginning of) Charge Ending Purchase Credit Purchase Credit December 31, 2021 balance loan 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 The following table provides activity for the accretable credit discount of purchased loans: 2022 Balance at December 31, 2021 $ 1,629,242 Accretion 211,163 Balance at March 31, 2022 $ 1,418,079 At March 31, 2022, December 31, 2021 one March 31, 2022 March 31, 2022, March 31, 2022, March 31, 2022,

Note 5 - Goodwill and Other Int

Note 5 - Goodwill and Other Intangibles	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	5. Goodwill and Other Intangibles The acquisition of Carroll Bancorp, Inc. in October 2020 Goodwill CDI Total Balance at December 31, 2021 $ 6,978,208 $ 72,872 $ 7,051,080 Amortization - (2,082 ) (2,082 ) Balance at March 31, 2022 $ 6,978,208 $ 70,790 $ 7,048,998 The CDI is being amortized over 10 years on a straight-line basis. Annual amortization will be $8,328 for each of the years ended December 31, 2022 2029 2030. not

Note 6 - Lease Commitments

Note 6 - Lease Commitments	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	6. Lease Commitments The Company and its subsidiaries are obligated under operating leases for certain office premises. The following table shows operating lease right of use assets and operating lease liabilities as of March 31, 2022 December 31, 2021: Consolidated Balance Sheet classification March 31, 2022 December 31, 2021 Operating lease right of use asset Other assets $ 1,056,020 $ 1,093,382 Operating lease liabilities Other liabilities 1,276,385 1,311,570 Operating lease cost included in occupancy expense in the statement of income for the three March 31, 2022 2021 A maturity analysis of operating lease liabilities, including those option years for which the Company is reasonably certain to renew, and reconciliation of the undiscounted cash flows to the total operating lease liabilities are as follows: Year Amount 2022 $ 137,059 2023 187,951 2024 193,443 2025 199,107 2026 204,952 Thereafter 492,394 Total undiscounted cash flow 1,414,906 Discount (138,521 ) Lease liabilities $ 1,276,385 For operating leases as of March 31, 2022, three March 31, 2022 2021,

Note 7 - Capital Standards

Note 7 - Capital Standards	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Regulatory Capital Requirements under Banking Regulations [Text Block]	7. Capital Standards Farmers and Merchants Bancshares, Inc. and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possible additional, discretionary actions by the regulators that, if undertaken, could have a direct material effect on our financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, we must meet specific capital guidelines that involve quantitative measures of our assets, liabilities, and certain off‑balance sheet items as calculated under regulatory accounting practices. Our capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Quantitative measures established by the Basel III Capital Rules to ensure capital adequacy require the maintenance of minimum amounts and ratios (set forth in the table below) of Common Equity Tier 1 1 1 In connection with the adoption of the Basel III Capital Rules, the Bank elected to opt-out of the requirement to include accumulated other comprehensive income in Common Equity Tier 1 1 Insured depository institutions are required to meet the following in order to qualify as “well capitalized”: (i) a common equity Tier 1 6.5%; 1 8%; 10%; 1 5%. The implementation of the capital conservation buffer began on January 1, 2016 0.625% four January 1, 2.5% January 1, 2019 not March 31, 2022, The aforementioned capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of Common Equity Tier 1 The following table presents actual and required capital ratios as of March 31, 2022 December 31, 2021 March 31, 2022 December 31, 2021 Minimum To Be Well (Dollars in thousands) Actual Capital Adequacy Capitalized March 31, 2022 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 71,541 13.09 % $ 57,396 10.50 % $ 54,663 10.00 % Tier 1 capital (to risk-weighted assets) 67,887 12.42 % 46,463 8.50 % 43,730 8.00 % Common equity tier 1 (to risk- weighted assets) 67,887 12.42 % 38,264 7.00 % 35,531 6.50 % Tier 1 leverage (to average assets) 67,887 9.60 % 28,290 4.00 % 35,363 5.00 % 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 % To be categorized as well capitalized, the Bank must maintain ratios as set forth in the table. As of March 31, 2022, no The FDIC, through formal or informal agreement, has the authority to require an institution to maintain higher capital ratios than those provided by statute, to be categorized as well capitalized under the regulatory framework for prompt corrective action.

Note 8 - Fair Value

Note 8 - Fair Value	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Fair Value Disclosures [Text Block]	8. Fair Value In accordance with FASB ASC 820, no not may not The fair value guidance provides a consistent definition of fair value, which focuses on exit price in the principal or most advantageous market for the asset or liability in an orderly transaction (that is, not may In accordance with the guidance, a hierarchy of valuation techniques is based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. The three 820 two ● Level 1: ● Level 2: 1 not ● Level 3: The Company uses the following methods and significant assumptions to estimate the fair values of the following assets: ● Securities available for sale: The fair values of securities available for sale are determined by obtaining quoted prices from a nationally recognized securities pricing agent. If quoted market prices are not ● Equity security at fair value: The Company’s investment in an equity mutual fund is valued based on the net asset value of the fund, which is classified as Level 1. ● Other real estate owned (“OREO”): Nonrecurring fair value adjustments to OREO reflect full or partial write-downs that are based on the OREO’s observable market price or current appraised value of the real estate. Since the market for OREO is not 3. third ● Impaired loans: Nonrecurring fair value adjustments to impaired loans reflect full or partial write-downs and reserves that are based on the impaired loan’s observable market price or current appraised value of the collateral. Since the market for impaired loans is not 3. third The following table summarizes financial assets measured at fair value on a recurring and nonrecurring basis as of March 31, 2022 December 31, 2021, Carrying Value: Level 1 Level 2 Level 3 Total March 31, 2022 Recurring: Available for sale securities State and municipal $ - $ 747,363 $ - $ 747,363 SBA pools - 1,279,835 - 1,279,835 Corporate bonds - 10,628,077 - 10,628,077 Mortgage-backed securities - 133,061,160 - 133,061,160 $ - $ 145,716,435 $ - $ 145,716,435 Equity security at fair value Mutual fund $ 518,091 $ - $ - $ 518,091 Nonrecurring: Other real estate owned, net $ - $ - $ 1,242,365 $ 1,242,365 Impaired loans - - $ 373,500 $ 373,500 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 Mutual fund $ 543,605 $ - $ - $ 543,605 Nonrecurring: Other real estate owned, net $ - $ - $ 1,242,365 $ 1,242,365 Impaired loans - - 373,500 373,500 The estimated fair value of financial instruments that are reported at amortized cost in the Company’s consolidated balance sheets, segregated by the level of the valuation inputs were as follows: March 31, 2022 December 31, 2021 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets Level 1 inputs Cash and cash equivalents $ 27,139,193 $ 27,139,193 $ 26,462,106 $ 26,462,106 Level 2 inputs Certificates of deposit in other banks 350,000 350,000 350,000 350,000 Accrued interest receivable 1,562,014 1,562,014 1,609,063 1,609,063 Securities held to maturity 21,343,559 20,914,769 21,851,975 22,805,601 Mortgage loans held for sale 285,000 287,015 126,500 128,829 Restricted stock, at cost 695,000 695,000 675,400 675,400 Bank owned life insurance 11,609,153 11,609,153 11,556,163 11,556,163 Level 3 inputs Securities held to maturity - - 3,073,040 3,073,040 Loans, net 483,908,857 486,099,069 482,011,334 487,012,970 Financial liabilities Level 1 inputs Noninterest-bearing deposits $ 132,629,508 $ 132,629,508 $ 124,175,615 $ 124,175,615 Securities sold under repurchase agreements 4,083,707 4,083,707 5,414,026 5,414,026 Level 2 inputs Interest-bearing deposits 501,151,145 499,421,145 502,239,055 502,396,172 Federal Home Loan Bank advances 5,000,000 4,764,000 5,000,000 4,967,000 Long-term debt 16,553,090 16,718,129 16,978,905 17,298,111 Accrued interest payable 276,573 276,573 295,910 295,910

Note 9 - Earnings Per Share

Note 9 - Earnings Per Share	3 Months Ended
	Mar. 31, 2022
Notes to Financial Statements
Earnings Per Share [Text Block]	9. Earnings per Share Basic earnings per share is determined by dividing net income available to stockholders by the weighted-average number of shares of common stock outstanding during the period and does not three March 31, 2022 2021. no three March 31, 2022 2021. Three Months Ended March 31, 2022 2021 Net income $ 2,050,802 $ 2,029,575 Weighted average shares outstanding 3,037,137 3,011,255 Earnings per share - basic and diluted $ 0.68 $ 0.67

Note 10 - Retirement Plans

Note 10 - Retirement Plans	3 Months Ended
	Mar. 31, 2022
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 three March 31, 2022 2021. The Company has entered into agreements with 12 employees to provide certain life insurance benefits payable in connection with policies of life insurance on those employees that are owned by the Company. Each of the agreements provides for the amount of death insurance benefits to be paid to beneficiaries of the insured. For this plan, the Company expensed $1,702 and $1,661 for the three March 31, 2022 2021. The Company adopted supplemental executive retirement plans for three three March 31, 2022 2021. Retirement plan expenses are included in employee benefits on the consolidated statements of income.

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block]	Loans and allowance for loan losses Loans are stated at the current amount of unpaid principal, adjusted for deferred origination costs, deferred origination fees, premiums and discounts on acquired loans, and the allowance for loan losses. Interest on loans is accrued based on the principal amounts outstanding. Origination fees and costs, along with premiums and accretable discounts, are amortized to income over the terms of loans. Past due status is based on the contractual terms of the loan. Management may 90 not The allowance for loan losses represents an amount which, in management’s judgment, will be adequate to absorb probable losses on existing loans and other extensions of credit that may three not The allowances established for probable 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 meet the specific criteria of 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 discount. These loans are accounted for under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 310 30, Loans acquired through business combinations that do not 310 30 310 20, no no
Goodwill and Intangible Assets, Policy [Policy Text Block]	Goodwill and other intangible assets Goodwill is calculated as the purchase premium, if any, after adjusting for the fair value of net assets acquired in purchase transactions. Goodwill is not
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In June 2016, 2016‑13, 2019 10 326 815 842 January 1, 2023 third 2022 March 31, 2022 In March 2020, 2020 04, 848 2020 04 March 12, 2020 December 31, 2022. In March 2022, No. 2022 02, 326 2022 02 2016 13 2016 13, 2022 02 December 15, 2022, not 2016 13, 2022 02 2016 13. 2016 13. may 2022 02 The accounting policies adopted by management are consistent with authoritative GAAP and are consistent with those followed by our peers.

Note 3 - Investment Securities

Note 3 - Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Marketable Securities [Table Text Block]	Amortized Unrealized Unrealized Fair March 31, 2022 cost gains losses value Available for sale State and municipal $ 752,413 $ 730 $ 5,780 $ 747,363 SBA pools 1,300,202 1,682 22,049 1,279,835 Corporate bonds 10,960,028 15,803 347,754 10,628,077 Mortgage-backed securities 143,548,768 27,105 10,514,713 133,061,160 $ 156,561,411 $ 45,320 $ 10,890,296 $ 145,716,435 Held to maturity State and municipal $ 21,343,559 $ 156,037 $ 584,827 $ 20,914,769 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
Investments Classified by Contractual Maturity Date [Table Text Block]	Available for Sale Held to Maturity Amortized Fair Amortized Fair March 31, 2022 cost value cost value Within one year $ 752,350 $ 754,818 $ - $ - Over one to five years 3,628,616 3,560,563 800,729 800,815 Over five to ten years 7,331,475 7,060,059 1,782,321 1,797,278 Over ten years - - 18,760,509 18,316,676 11,712,441 11,375,440 21,343,559 20,914,769 Mortgage-backed securities and SBA pools, due in monthly installments 144,848,970 134,340,995 - - $ 156,561,411 $ 145,716,435 $ 21,343,559 $ 20,914,769
Schedule of Unrealized Loss on Investments [Table Text Block]	March 31, 2022 Less than 12 months 12 months or more Total Description of investments Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss State and municipal $ 7,738,761 $ 412,339 $ 924,219 $ 178,268 $ 8,662,980 $ 590,607 SBA pools - - 1,039,389 22,049 1,039,389 22,049 Corporate bonds 8,201,181 347,754 - - 8,201,181 347,754 Mortgage-backed securities 103,977,709 8,212,229 19,134,680 2,302,484 123,112,389 10,514,713 Total $ 119,917,651 $ 8,972,322 $ 21,098,288 $ 2,502,801 $ 141,015,939 $ 11,475,123 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

Note 4 - Loans (Tables)

Note 4 - Loans (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	March 31, December 31, 2022 2021 Real estate: Commercial $ 329,179,712 $ 319,185,116 Construction and land development 20,325,400 28,221,854 Residential 111,993,662 107,436,033 Commercial 26,374,885 31,182,206 Consumer 296,151 355,958 488,169,810 486,381,167 Less: Allowance for loan losses 3,654,318 3,650,268 Deferred origination fees net of costs 606,635 719,565 $ 483,908,857 $ 482,011,334
Financing Receivable, Nonaccrual [Table Text Block]	March 31, December 31, 2022 2021 Commercial real estate $ 4,780,965 $ 4,810,965 Residential real estate 31,500 31,500 Commercial 152,449 152,449 $ 4,964,914 $ 4,994,914
Financing Receivable, Past Due [Table Text Block]	90 Days Past Due 90 30 - 59 Days 60 - 89 Days or More Total Total Days or More Past Due Past Due Past Due Past Due Current Loans and Accruing March 31, 2022 Real estate: Commercial $ - $ - $ 502,961 $ 502,961 $ 328,676,751 $ 329,179,712 $ - Construction and land development - - - - 20,325,400 20,325,400 - Residential - 216,082 31,500 247,582 111,746,080 111,993,662 - Commercial - - 152,449 152,449 26,222,436 26,374,885 - Consumer - - - - 296,151 296,151 - Total $ - $ 216,082 $ 686,910 $ 902,992 $ 487,266,818 $ 488,169,810 $ - 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
Impaired Financing Receivables [Table Text Block]	Unpaid Recorded Recorded Contractual Investment Investment Total Average Principal With No With Recorded Related Recorded Interest Balance Allowance Allowance Investment Allowance Investment Recognized March 31, 2022 Commercial real estate $ 6,781,030 $ 6,278,069 $ 502,961 $ 6,781,030 $ 129,461 $ 6,800,981 $ 25,054 Residential real estate 37,341 37,341 - 37,341 - 38,285 - Commercial 152,449 - 152,449 152,449 152,449 152,449 378 $ 6,970,820 $ 6,315,410 $ 655,410 $ 6,970,820 $ 281,910 $ 6,991,715 $ 25,432 December 31, 2021 Commercial real estate $ 6,820,932 $ 6,317,971 $ 502,961 $ 6,820,932 $ 129,461 $ 6,740,539 $ 125,079 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 $ 6,858,745 $ 195,756
Financing Receivable Credit Quality Indicators [Table Text Block]	Above Pass Special March 31, 2022 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ 98,984 $ 69,394,973 $ 161,821,022 $ 85,424,219 $ 3,217,512 $ 9,223,002 $ - $ 329,179,712 Construction and land development - - 3,711,277 10,967,190 5,646,933 - - - 20,325,400 Residential 34,250 611,328 45,120,441 56,566,253 7,270,671 - 2,390,719 - 111,993,662 Commercial 4,312,074 - 5,666,167 12,613,235 3,630,960 - 152,449 - 26,374,885 Consumer 4,553 142,436 118,739 1,249 10,293 - 18,881 - 296,151 $ 4,350,877 $ 852,748 $ 124,011,597 $ 241,968,949 $ 101,983,076 $ 3,217,512 $ 11,785,051 $ - $ 488,169,810 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
Financing Receivable, Allowance for Credit Loss [Table Text Block]	Provision for (recovery Allowance for loan losses ending balance evaluated for impairment: Outstanding loan balances evaluated for impairment: Beginning of) Charge Ending Purchase Credit Purchase Credit March 31, 2022 balance loan losses offs Recoveries balance Individually Impaired Collectively Individually Impaired Collectively Real estate: Commercial $ 2,482,930 $ 63,130 $ - $ - $ 2,546,060 $ 129,461 $ - $ 2,416,599 $ 6,781,030 $ 32,991 $ 322,365,691 Construction and land development 214,547 (97,873 ) - 4,050 120,724 - - 120,724 - 379,349 19,946,051 Residential 603,558 51,081 - - 654,639 - - 654,639 37,341 244,789 111,711,532 Commercial 255,413 12,276 - - 267,689 152,449 - 115,240 152,449 - 26,222,436 Consumer 4,370 (738 ) - - 3,632 - - 3,632 - - 296,151 Unallocated 89,450 (27,876 ) - - 61,574 - - 61,574 - - - $ 3,650,268 $ - $ - $ 4,050 $ 3,654,318 $ 281,910 $ - $ 3,372,408 $ 6,970,820 $ 657,129 $ 480,541,861 Provision for (recovery Allowance for loan losses ending balance evaluated for impairment: Outstanding loan balances evaluated for impairment: Beginning of) Charge Ending Purchase Credit Purchase Credit March 31, 2021 balance loan losses offs Recoveries balance Individually Impaired Collectively Individually Impaired Collectively Real estate: Commercial $ 2,230,129 $ 323,768 $ - $ 2,500 $ 2,556,397 $ - $ - $ 2,556,397 $ 6,644,339 $ 45,233 $ 305,552,307 Construction and land development 201,692 (39,269 ) - 4,050 166,473 - - 166,473 - 1,554,070 33,177,080 Residential 644,639 (154,755 ) - - 489,884 - - 489,884 43,371 590,847 116,066,706 Commercial 111,390 (12,143 ) - - 99,247 - - 99,247 - - 60,064,503 Consumer 2,138 320 - - 2,458 - - 2,458 - - 258,484 Unallocated 106,550 2,079 - - 108,629 - - 108,629 - - - $ 3,296,538 $ 120,000 $ - $ 6,550 $ 3,423,088 $ - $ - $ 3,423,088 $ 6,687,710 $ 2,190,177 $ 515,119,080 Provision for (recovery Allowance for loan losses ending balance evaluated for impairment: Outstanding loan balances evaluated for impairment: Beginning of) Charge Ending Purchase Credit Purchase Credit December 31, 2021 balance loan 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
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table Text Block]	2022 Balance at December 31, 2021 $ 1,629,242 Accretion 211,163 Balance at March 31, 2022 $ 1,418,079

Note 5 - Goodwill and Other I_2

Note 5 - Goodwill and Other Intangibles (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Schedule of Intangible Assets and Goodwill [Table Text Block]	Goodwill CDI Total Balance at December 31, 2021 $ 6,978,208 $ 72,872 $ 7,051,080 Amortization - (2,082 ) (2,082 ) Balance at March 31, 2022 $ 6,978,208 $ 70,790 $ 7,048,998

Note 6 - Lease Commitments (Tab

Note 6 - Lease Commitments (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Schedule of Components of Lease Assets and Liabilities [Table Text Block]	Consolidated Balance Sheet classification March 31, 2022 December 31, 2021 Operating lease right of use asset Other assets $ 1,056,020 $ 1,093,382 Operating lease liabilities Other liabilities 1,276,385 1,311,570
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Year Amount 2022 $ 137,059 2023 187,951 2024 193,443 2025 199,107 2026 204,952 Thereafter 492,394 Total undiscounted cash flow 1,414,906 Discount (138,521 ) Lease liabilities $ 1,276,385

Note 7 - Capital Standards (Tab

Note 7 - Capital Standards (Tables)	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 71,541 13.09 % $ 57,396 10.50 % $ 54,663 10.00 % Tier 1 capital (to risk-weighted assets) 67,887 12.42 % 46,463 8.50 % 43,730 8.00 % Common equity tier 1 (to risk- weighted assets) 67,887 12.42 % 38,264 7.00 % 35,531 6.50 % Tier 1 leverage (to average assets) 67,887 9.60 % 28,290 4.00 % 35,363 5.00 % 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 %

Note 8 - Fair Value (Tables)

Note 8 - Fair Value (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	Carrying Value: Level 1 Level 2 Level 3 Total March 31, 2022 Recurring: Available for sale securities State and municipal $ - $ 747,363 $ - $ 747,363 SBA pools - 1,279,835 - 1,279,835 Corporate bonds - 10,628,077 - 10,628,077 Mortgage-backed securities - 133,061,160 - 133,061,160 $ - $ 145,716,435 $ - $ 145,716,435 Equity security at fair value Mutual fund $ 518,091 $ - $ - $ 518,091 Nonrecurring: Other real estate owned, net $ - $ - $ 1,242,365 $ 1,242,365 Impaired loans - - $ 373,500 $ 373,500 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 Mutual fund $ 543,605 $ - $ - $ 543,605 Nonrecurring: Other real estate owned, net $ - $ - $ 1,242,365 $ 1,242,365 Impaired loans - - 373,500 373,500
Fair Value, by Balance Sheet Grouping [Table Text Block]	March 31, 2022 December 31, 2021 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets Level 1 inputs Cash and cash equivalents $ 27,139,193 $ 27,139,193 $ 26,462,106 $ 26,462,106 Level 2 inputs Certificates of deposit in other banks 350,000 350,000 350,000 350,000 Accrued interest receivable 1,562,014 1,562,014 1,609,063 1,609,063 Securities held to maturity 21,343,559 20,914,769 21,851,975 22,805,601 Mortgage loans held for sale 285,000 287,015 126,500 128,829 Restricted stock, at cost 695,000 695,000 675,400 675,400 Bank owned life insurance 11,609,153 11,609,153 11,556,163 11,556,163 Level 3 inputs Securities held to maturity - - 3,073,040 3,073,040 Loans, net 483,908,857 486,099,069 482,011,334 487,012,970 Financial liabilities Level 1 inputs Noninterest-bearing deposits $ 132,629,508 $ 132,629,508 $ 124,175,615 $ 124,175,615 Securities sold under repurchase agreements 4,083,707 4,083,707 5,414,026 5,414,026 Level 2 inputs Interest-bearing deposits 501,151,145 499,421,145 502,239,055 502,396,172 Federal Home Loan Bank advances 5,000,000 4,764,000 5,000,000 4,967,000 Long-term debt 16,553,090 16,718,129 16,978,905 17,298,111 Accrued interest payable 276,573 276,573 295,910 295,910

Note 9 - Earnings Per Share (Ta

Note 9 - Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, 2022 2021 Net income $ 2,050,802 $ 2,029,575 Weighted average shares outstanding 3,037,137 3,011,255 Earnings per share - basic and diluted $ 0.68 $ 0.67

Note 1 - Principles of Consol_2

Note 1 - Principles of Consolidation (Details Textual)	3 Months Ended
	Mar. 31, 2022
First Community Bankers Insurance Co., LLC [Member]
Percentage of Ownership	100.00%

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation (Details Textual)	3 Months Ended	15 Months Ended
	Mar. 31, 2022	Mar. 31, 2022
Core Deposits [Member]
Finite-Lived Intangible Asset, Useful Life (Year)	10 years	10 years

Note 3 - Investment Securitie_2

Note 3 - Investment Securities (Details Textual)	3 Months Ended		12 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale	$ 6,232,740	$ 10,454,122
Debt Securities, Available-for-Sale, Realized Gain (Loss), Total	$ 0	8,569	$ 0
Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions	156
Held-to-Maturity, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions	20
Securities Called at a Premium [Member]
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale		$ 513,845
Asset Pledged as Collateral [Member] | Government Deposits and Securities Sold Under Repurchase Agreement [Member]
Debt Securities, Total	$ 16,852,733		$ 14,307,989

Note 3 - Investment Securitie_3

Note 3 - Investment Securities - Investments in Debt Securities (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Amortized cost, available for sale	$ 156,561,411	$ 151,162,429
Unrealized gains, available for sale	45,320	412,772
Unrealized losses, available for sale	10,890,296	2,337,285
Fair value, available for sale	145,716,435	149,237,916
Amortized cost, held to maturity	21,343,559	21,851,975
Fair value, held to maturity	20,914,769
US States and Political Subdivisions Debt Securities [Member]
Amortized cost, available for sale	752,413	753,061
Unrealized gains, available for sale	730	10,437
Unrealized losses, available for sale	5,780	0
Fair value, available for sale	747,363	763,498
Amortized cost, held to maturity	21,343,559	21,851,975
Unrealized gains, held to maturity	156,037	1,020,877
Unrealized losses, held to maturity	584,827	67,251
Fair value, held to maturity	20,914,769	22,805,601
SBA Pools [Member]
Amortized cost, available for sale	1,300,202	1,418,770
Unrealized gains, available for sale	1,682	1,656
Unrealized losses, available for sale	22,049	22,664
Fair value, available for sale	1,279,835	1,397,762
Corporate Debt Securities [Member]
Amortized cost, available for sale	10,960,028	9,225,153
Unrealized gains, available for sale	15,803	64,595
Unrealized losses, available for sale	347,754	55,541
Fair value, available for sale	10,628,077	9,234,207
Collateralized Mortgage-Backed Securities [Member]
Amortized cost, available for sale	143,548,768	139,765,445
Unrealized gains, available for sale	27,105	336,084
Unrealized losses, available for sale	10,514,713	2,259,080
Fair value, available for sale	$ 133,061,160	$ 137,842,449

Note 3 - Investment Securitie_4

Note 3 - Investment Securities - Contractual Maturities (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Available for Sale Amortized cost, Within one year	$ 752,350
Available for Sale Fair value, Within one year	754,818
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	3,628,616
Available for Sale Fair value, Over one to five years	3,560,563
Held to Maturity Amortized cost, Over one to five years	800,729
Held to Maturity Fair value, Over one to five years	800,815
Available for Sale Amortized cost, Fair value, Over one to five years	7,331,475
Available for Sale Fair value, Over five to ten years	7,060,059
Held to Maturity Amortized cost, Over five to ten years	1,782,321
Held to Maturity Fair value, Over five to ten years	1,797,278
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	18,760,509
Held to Maturity Fair value, Over ten years	18,316,676
Available for Sale Amortized cost, total maturity	11,712,441
Available for Sale Fair value, total maturity	11,375,440
Held to Maturity Amortized cost, total maturity	21,343,559
Held to Maturity Fair value, total maturity	20,914,769
Available for Sale Amortized cost, due in monthly installments	144,848,970
Available for Sale Fair value, due in monthly installments	134,340,995
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	156,561,411	$ 151,162,429
Available for Sale Fair value Total	145,716,435	149,237,916
Held to Maturity Amortized cost Total	21,343,559	$ 21,851,975
Held to Maturity Fair value Total	$ 20,914,769

Note 3 - Investment Securitie_5

Note 3 - Investment Securities - Gross Unrealized Losses on Continuous Basis for Investment Securities (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Less than 12 months Fair value	$ 119,917,651	$ 124,609,499
Less than 12 months Unrealized losses	8,972,322	2,126,119
12 months or more Fair value	21,098,288	6,630,634
12 months or more Unrealized losses	2,502,801	278,417
Total Fair value	141,015,939	131,240,133
Total Unrealized losses	11,475,123	2,404,536
US States and Political Subdivisions Debt Securities [Member]
Less than 12 months Fair value	7,738,761	1,324,648
Less than 12 months Unrealized losses	412,339	35,720
12 months or more Fair value	924,219	715,650
12 months or more Unrealized losses	178,268	31,531
Total Fair value	8,662,980	2,040,298
Total Unrealized losses	590,607	67,251
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	1,039,389	1,133,398
12 months or more Unrealized losses	22,049	22,664
Total Fair value	1,039,389	1,133,398
Total Unrealized losses	22,049	22,664
Corporate Debt Securities [Member]
Less than 12 months Fair value	8,201,181	5,443,886
Less than 12 months Unrealized losses	347,754	55,541
12 months or more Fair value	0	0
12 months or more Unrealized losses	0	0
Total Fair value	8,201,181	5,443,886
Total Unrealized losses	347,754	55,541
Collateralized Mortgage-Backed Securities [Member]
Less than 12 months Fair value	103,977,709	117,840,965
Less than 12 months Unrealized losses	8,212,229	2,034,858
12 months or more Fair value	19,134,680	4,781,586
12 months or more Unrealized losses	2,302,484	224,222
Total Fair value	123,112,389	122,622,551
Total Unrealized losses	$ 10,514,713	$ 2,259,080

Note 4 - Loans (Details Textual

Note 4 - Loans (Details Textual)	3 Months Ended		12 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Loans and Leases Receivable, Gross	$ 488,169,810		$ 486,381,167
Unamortized Loan Commitment and Origination Fees and Unamortized Discounts or Premiums			2,323,000
Loans and Leases Receivable, Deferred Income	606,635		719,565
Financing Receivable, Nonaccrual	4,964,914		4,994,914
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans	59,182		219,734
Impaired Financing Receivable, Related Allowance	281,910		281,910
Financing Receivable, Allowance for Credit Loss, Writeoff	0	$ 0	18,970
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, Nonaccretable Difference	$ 241,587
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Reclassifications from Nonaccretable Difference	225,000
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield	1,418,079		1,629,242
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Accretion	211,163
Certain Loans Acquired in Transfer, Accretable Yield	1,257,038
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance	96,265,413
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net	95,862,785
Mortgage Loans in Process of Foreclosure, Amount	0
Financial Asset Acquired with Credit Deterioration [Member]
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield	86,342
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Accretion	54,266
Nonaccrual Loans [Member]
Impaired Financing Receivable, Related Allowance	281,910		281,910
Allowance for Loan and Lease Losses Write-offs, Net	27,146		27,146
Commercial Portfolio Segment [Member]
Loans and Leases Receivable, Gross	26,374,885		$ 31,182,206
Financing Receivable, Number of Loans, Nonaccrual Status			1
Financing Receivable, Nonaccrual	152,449		$ 152,449
Impaired Financing Receivable, Related Allowance	152,449		$ 152,449
Number of Loans Classified as TDR			1
Financing Receivable, Allowance for Credit Loss, Writeoff	0	0	$ 0
Commercial Real Estate Portfolio Segment [Member]
Loans and Leases Receivable, Gross	$ 329,179,712		$ 319,185,116
Financing Receivable, Number of Loans, Nonaccrual Status	2		2
Financing Receivable, Nonaccrual	$ 4,780,965		$ 4,810,965
Impaired Financing Receivable, Related Allowance	$ 129,461		$ 129,461
Number of Loans Classified as TDR	2		1
Financing Receivable, Troubled Debt Restructuring	$ 6,278,069		$ 2,009,967
Financing Receivable, Troubled Debt Restructuring, Premodification	4,278,004
Financing Receivable, Allowance for Credit Loss, Writeoff	0	0	0
Residential Portfolio Segment [Member]
Loans and Leases Receivable, Gross	$ 111,993,662		107,436,033
Financing Receivable, Number of Loans, Nonaccrual Status	1
Financing Receivable, Nonaccrual	$ 31,500		31,500
Impaired Financing Receivable, Related Allowance	$ 0		$ 0
Number of Loans Classified as TDR	1		1
Financing Receivable, Troubled Debt Restructuring	$ 37,341		$ 39,228
Financing Receivable, Allowance for Credit Loss, Writeoff	0	0	18,970
SBA CARES Act Paycheck Protection Program [Member] | Commercial Portfolio Segment [Member]
Loans and Leases Receivable, Gross	4,200,000		9,700,000
Financing Receivable, Loans Originated Amount			$ 60,000,000	$ 60,000,000
Interest Income, Financing Receivable, before Allowance for Credit Loss	105,000	$ 369,000
Loans and Leases Receivable, Deferred Income	$ 91,000

Note 4 - Loans - Major Categori

Note 4 - Loans - Major Categories of Loans (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Loans	$ 488,169,810	$ 486,381,167
Allowance for loan losses	3,654,318	3,650,268
Deferred origination fees net of costs	606,635	719,565
Loans and Leases Receivable, Net Amount	483,908,857	482,011,334
Commercial Real Estate Portfolio Segment [Member]
Loans	329,179,712	319,185,116
Construction and Land Development [Member]
Loans	20,325,400	28,221,854
Residential Portfolio Segment [Member]
Loans	111,993,662	107,436,033
Commercial Portfolio Segment [Member]
Loans	26,374,885	31,182,206
Consumer Portfolio Segment [Member]
Loans	$ 296,151	$ 355,958

Note 4 - Loans - Non-accrual Lo

Note 4 - Loans - Non-accrual Loans (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Nonaccrual loans	$ 4,964,914	$ 4,994,914
Commercial Real Estate Portfolio Segment [Member]
Nonaccrual loans	4,780,965	4,810,965
Residential Portfolio Segment [Member]
Nonaccrual loans	31,500	31,500
Commercial Portfolio Segment [Member]
Nonaccrual loans	$ 152,449	$ 152,449

Note 4 - Loans - Past Due Loans

Note 4 - Loans - Past Due Loans (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Loans	$ 488,169,810	$ 486,381,167
Loans, 90 days past due and still accruing	0	480,902
Financial Asset, 30 to 59 Days Past Due [Member]
Loans	0	0
Financial Asset, 60 to 89 Days Past Due [Member]
Loans	216,082	0
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans	686,910	1,167,812
Financial Asset, Past Due [Member]
Loans	902,992	1,167,812
Financial Asset, Not Past Due [Member]
Loans	487,266,818	485,213,355
Commercial Real Estate Portfolio Segment [Member]
Loans	329,179,712	319,185,116
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	0
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	502,961
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Loans	502,961	502,961
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Loans	328,676,751	318,682,155
Construction and Land Development [Member]
Loans	20,325,400	28,221,854
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	20,325,400	28,221,854
Residential Portfolio Segment [Member]
Loans	111,993,662	107,436,033
Loans, 90 days past due and still accruing	0	217,661
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Loans	0	0
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Loans	216,082	0
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans	31,500	249,161
Residential Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Loans	247,582	249,161
Residential Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Loans	111,746,080	107,186,872
Commercial Portfolio Segment [Member]
Loans	26,374,885	31,182,206
Loans, 90 days past due and still accruing	0	263,241
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	152,449	415,690
Commercial Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Loans	152,449	415,690
Commercial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Loans	26,222,436	30,766,516
Consumer Portfolio Segment [Member]
Loans	296,151	355,958
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	$ 296,151	$ 355,958

Note 4 - Loans - Impaired Loans

Note 4 - Loans - Impaired Loans (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Unpaid Contractual Principal Balance	$ 6,970,820	$ 7,012,609
Recorded Investment With No Allowance	6,315,410	6,357,199
Recorded Investment With Allowance	655,410	655,410
Total Recorded Investment	6,970,820	7,012,609
Related Allowance	281,910	281,910
Average Recorded Investment	6,991,715	6,858,745
Interest Recognized	25,432	195,756
Commercial Real Estate Portfolio Segment [Member]
Unpaid Contractual Principal Balance	6,781,030	6,820,932
Recorded Investment With No Allowance	6,278,069	6,317,971
Recorded Investment With Allowance	502,961	502,961
Total Recorded Investment	6,781,030	6,820,932
Related Allowance	129,461	129,461
Average Recorded Investment	6,800,981	6,740,539
Interest Recognized	25,054	125,079
Residential Portfolio Segment [Member]
Unpaid Contractual Principal Balance	37,341	39,228
Recorded Investment With No Allowance	37,341	39,228
Recorded Investment With Allowance	0	0
Total Recorded Investment	37,341	39,228
Related Allowance	0	0
Average Recorded Investment	38,285	41,981
Interest Recognized	0	1,672
Commercial Portfolio Segment [Member]
Unpaid Contractual Principal Balance	152,449	152,449
Recorded Investment With No Allowance	0	0
Recorded Investment With Allowance	152,449	152,449
Total Recorded Investment	152,449	152,449
Related Allowance	152,449	152,449
Average Recorded Investment	152,449	76,225
Interest Recognized	$ 378	$ 69,005

Note 4 - Loans - Loans by Credi

Note 4 - Loans - Loans by Credit Grade (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Loans	$ 488,169,810	$ 486,381,167
Excellent [Member]
Loans	4,350,877	9,821,535
Above Average [Member]
Loans	852,748	2,101,931
Average [Member]
Loans	124,011,597	129,577,624
Acceptable [Member]
Loans	241,968,949	219,509,802
Pass [Member]
Loans	101,983,076	104,951,530
Special Mention [Member]
Loans	3,217,512	5,288,153
Substandard [Member]
Loans	11,785,051	15,109,965
Doubtful [Member]
Loans	0	20,627
Commercial Real Estate Portfolio Segment [Member]
Loans	329,179,712	319,185,116
Commercial Real Estate Portfolio Segment [Member] | Excellent [Member]
Loans	0	0
Commercial Real Estate Portfolio Segment [Member] | Above Average [Member]
Loans	98,984	1,225,732
Commercial Real Estate Portfolio Segment [Member] | Average [Member]
Loans	69,394,973	73,924,748
Commercial Real Estate Portfolio Segment [Member] | Acceptable [Member]
Loans	161,821,022	146,174,439
Commercial Real Estate Portfolio Segment [Member] | Pass [Member]
Loans	85,424,219	82,018,890
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member]
Loans	3,217,512	3,345,788
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member]
Loans	9,223,002	12,495,519
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member]
Loans	0	0
Construction and Land Development [Member]
Loans	20,325,400	28,221,854
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	3,711,277	3,853,775
Construction and Land Development [Member] | Acceptable [Member]
Loans	10,967,190	12,452,257
Construction and Land Development [Member] | Pass [Member]
Loans	5,646,933	9,973,457
Construction and Land Development [Member] | Special Mention [Member]
Loans	0	1,942,365
Construction and Land Development [Member] | Substandard [Member]
Loans	0	0
Construction and Land Development [Member] | Doubtful [Member]
Loans	0	0
Residential Portfolio Segment [Member]
Loans	111,993,662	107,436,033
Residential Portfolio Segment [Member] | Excellent [Member]
Loans	34,250	41,152
Residential Portfolio Segment [Member] | Above Average [Member]
Loans	611,328	708,162
Residential Portfolio Segment [Member] | Average [Member]
Loans	45,120,441	46,358,477
Residential Portfolio Segment [Member] | Acceptable [Member]
Loans	56,566,253	48,295,430
Residential Portfolio Segment [Member] | Pass [Member]
Loans	7,270,671	9,570,815
Residential Portfolio Segment [Member] | Special Mention [Member]
Loans	0	0
Residential Portfolio Segment [Member] | Substandard [Member]
Loans	2,390,719	2,461,997
Residential Portfolio Segment [Member] | Doubtful [Member]
Loans	0	0
Commercial Portfolio Segment [Member]
Loans	26,374,885	31,182,206
Commercial Portfolio Segment [Member] | Excellent [Member]
Loans	4,312,074	9,774,570
Commercial Portfolio Segment [Member] | Above Average [Member]
Loans	0	0
Commercial Portfolio Segment [Member] | Average [Member]
Loans	5,666,167	5,292,721
Commercial Portfolio Segment [Member] | Acceptable [Member]
Loans	12,613,235	12,585,396
Commercial Portfolio Segment [Member] | Pass [Member]
Loans	3,630,960	3,377,070
Commercial Portfolio Segment [Member] | Special Mention [Member]
Loans	0	0
Commercial Portfolio Segment [Member] | Substandard [Member]
Loans	152,449	152,449
Commercial Portfolio Segment [Member] | Doubtful [Member]
Loans	0	0
Consumer Portfolio Segment [Member]
Loans	296,151	355,958
Consumer Portfolio Segment [Member] | Excellent [Member]
Loans	4,553	5,813
Consumer Portfolio Segment [Member] | Above Average [Member]
Loans	142,436	168,037
Consumer Portfolio Segment [Member] | Average [Member]
Loans	118,739	147,903
Consumer Portfolio Segment [Member] | Acceptable [Member]
Loans	1,249	2,280
Consumer Portfolio Segment [Member] | Pass [Member]
Loans	10,293	11,298
Consumer Portfolio Segment [Member] | Special Mention [Member]
Loans	0	0
Consumer Portfolio Segment [Member] | Substandard [Member]
Loans	18,881	0
Consumer Portfolio Segment [Member] | Doubtful [Member]
Loans	$ 0	$ 20,627

Note 4 - Loans - Allowance for

Note 4 - Loans - Allowance for Loan Losses (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Allowance for loan losses	$ 3,650,268	$ 3,296,538	$ 3,296,538
Provision for loan losses	0	120,000	330,000
Charge offs	0	0	(18,970)
Recoveries	4,050	6,550	42,700
Allowance for loan losses	3,654,318	3,423,088	3,650,268
Allowance for loan losses ending balance evaluated for impairment individually	281,910	0	281,910
Allowance for loan losses ending balance evaluated for impairment collectively	3,372,408	3,423,088	3,368,358
Outstanding loan balances evaluated for impairment individually	6,970,820	6,687,710	7,012,609
Outstanding loan balances evaluated for impairment purchase credit impaired	483,908,857		482,011,334
Outstanding loan balances evaluated for impairment collectively	480,541,861	515,119,080	478,359,916
Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0	0
Outstanding loan balances evaluated for impairment purchase credit impaired	657,129	2,190,177	1,008,642
Commercial Real Estate Portfolio Segment [Member]
Allowance for loan losses	2,482,930	2,230,129	2,230,129
Provision for loan losses	63,130	323,768	241,301
Charge offs	0	0	0
Recoveries	0	2,500	11,500
Allowance for loan losses	2,546,060	2,556,397	2,482,930
Allowance for loan losses ending balance evaluated for impairment individually	129,461	0	129,461
Allowance for loan losses ending balance evaluated for impairment collectively	2,416,599	2,556,397	2,353,469
Outstanding loan balances evaluated for impairment individually	6,781,030	6,644,339	6,820,932
Outstanding loan balances evaluated for impairment collectively	322,365,691	305,552,307	312,307,359
Commercial Real Estate Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0	0
Outstanding loan balances evaluated for impairment purchase credit impaired	32,991	45,233	56,825
Construction and Land Development [Member]
Allowance for loan losses	214,547	201,692	201,692
Provision for loan losses	(97,873)	(39,269)	(3,345)
Charge offs	0	0	0
Recoveries	4,050	4,050	16,200
Allowance for loan losses	120,724	166,473	214,547
Allowance for loan losses ending balance evaluated for impairment individually	0	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	120,724	166,473	214,547
Outstanding loan balances evaluated for impairment individually	0	0	0
Outstanding loan balances evaluated for impairment collectively	19,946,051	33,177,080	27,838,188
Construction and Land Development [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0	0
Outstanding loan balances evaluated for impairment purchase credit impaired	379,349	1,554,070	383,666
Residential Portfolio Segment [Member]
Allowance for loan losses	603,558	644,639	644,639
Provision for loan losses	51,081	(154,755)	(22,111)
Charge offs	0	0	(18,970)
Recoveries	0	0	0
Allowance for loan losses	654,639	489,884	603,558
Allowance for loan losses ending balance evaluated for impairment individually	0	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	654,639	489,884	603,558
Outstanding loan balances evaluated for impairment individually	37,341	43,371	39,228
Outstanding loan balances evaluated for impairment collectively	111,711,532	116,066,706	106,828,654
Residential Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0	0
Outstanding loan balances evaluated for impairment purchase credit impaired	244,789	590,847	568,151
Commercial Portfolio Segment [Member]
Allowance for loan losses	255,413	111,390	111,390
Provision for loan losses	12,276	(12,143)	129,023
Charge offs	0	0	0
Recoveries	0	0	15,000
Allowance for loan losses	267,689	99,247	255,413
Allowance for loan losses ending balance evaluated for impairment individually	152,449	0	152,449
Allowance for loan losses ending balance evaluated for impairment collectively	115,240	99,247	102,964
Outstanding loan balances evaluated for impairment individually	152,449	0	152,449
Outstanding loan balances evaluated for impairment collectively	26,222,436	60,064,503	31,029,757
Commercial Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0	0
Outstanding loan balances evaluated for impairment purchase credit impaired	0	0	0
Consumer Portfolio Segment [Member]
Allowance for loan losses	4,370	2,138	2,138
Provision for loan losses	(738)	320	2,232
Charge offs	0	0	0
Recoveries	0	0	0
Allowance for loan losses	3,632	2,458	4,370
Allowance for loan losses ending balance evaluated for impairment individually	0	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	3,632	2,458	4,370
Outstanding loan balances evaluated for impairment individually	0	0	0
Outstanding loan balances evaluated for impairment collectively	296,151	258,484	355,958
Consumer Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0	0
Outstanding loan balances evaluated for impairment purchase credit impaired	0	0	0
Unallocated Financing Receivables [Member]
Allowance for loan losses	89,450	106,550	106,550
Provision for loan losses	(27,876)	2,079	(17,100)
Charge offs	0	0	0
Recoveries	0	0	0
Allowance for loan losses	61,574	108,629	89,450
Allowance for loan losses ending balance evaluated for impairment individually	0	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	61,574	108,629	89,450
Outstanding loan balances evaluated for impairment individually	0	0	0
Outstanding loan balances evaluated for impairment collectively	0	0	0
Unallocated Financing Receivables [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0	0
Outstanding loan balances evaluated for impairment purchase credit impaired	$ 0	$ 0	$ 0

Note 4 - Loans - Activity for A

Note 4 - Loans - Activity for Accretable Yield of Purchased Loans (Details)	3 Months Ended
	Mar. 31, 2022USD ($)
Balance at December 31, 2021	$ 1,629,242
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Accretion	211,163
Balance at March 31, 2022	$ 1,418,079

Note 5 - Goodwill and Other I_3

Note 5 - Goodwill and Other Intangibles (Details Textual) - Core Deposits [Member]	3 Months Ended	15 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2022USD ($)
Finite-Lived Intangible Asset, Useful Life (Year)	10 years	10 years
Finite-Lived Intangible Asset, Expected Amortization, Year One	$ 8,328	$ 8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Two	8,328	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Three	8,328	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Four	8,328	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Five	8,328	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Six	8,328	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Seven	8,328	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Eight	8,328	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Nine	8,328	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Ten	$ 6,246	$ 6,246

Note 5 - Goodwill and Other I_4

Note 5 - Goodwill and Other Intangibles - Changes in Goodwill and Other Intangibles (Details)	3 Months Ended
	Mar. 31, 2022USD ($)
Balance	$ 6,978,208
Balance	7,051,080
Amortization	(2,082)
Balance	6,978,208
Balance	7,048,998
Core Deposits [Member]
Balance, other intangible	72,872
Amortization, other intangible	(2,082)
Balance, other intangible	$ 70,790

Note 6 - Lease Commitments (Det

Note 6 - Lease Commitments (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Lease, Cost	$ 47,529	$ 49,930
Operating Lease, Weighted Average Remaining Lease Term (Year)	7 years 3 months 18 days
Operating Lease, Weighted Average Discount Rate, Percent	3.25%
Operating Lease, Payments	$ 45,353	$ 42,150

Note 6 - Lease Commitments - Op

Note 6 - Lease Commitments - Operating Lease Assets and Liabilities (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Operating lease liabilities	$ 1,276,385
Other Assets [Member]
Operating lease right of use asset	1,056,020	$ 1,093,382
Other Liabilities [Member]
Operating lease liabilities	$ 1,276,385	$ 1,311,570

Note 6 - Lease Commitments - _2

Note 6 - Lease Commitments - Operating Lease Liabilities (Details)	Mar. 31, 2022USD ($)
2022	$ 137,059
2023	187,951
2024	193,443
2025	199,107
2026	204,952
Thereafter	492,394
Total undiscounted cash flow	1,414,906
Discount	(138,521)
Lease liabilities	$ 1,276,385

Note 7 - Capital Standards (Det

Note 7 - Capital Standards (Details Textual)	Mar. 31, 2022	Dec. 31, 2021
Banking Regulation, Common Equity Tier One Risk-Based Capital Ratio, Well Capitalized, Minimum	0.065	0.0650
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets	0.08	0.0800
Capital Required to be Well Capitalized to Risk Weighted Assets	0.10	0.1000
Tier One Leverage Capital Required to be Well Capitalized to Average Assets	0.05	0.0500

Note 7 - Capital Standards - Ca

Note 7 - Capital Standards - Capital Requirements (Details) $ in Thousands	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)
Capital	$ 71,541	$ 69,957
Capital to Risk Weighted Assets	0.1309	0.1324
Capital Required for Capital Adequacy	$ 57,396	$ 55,471
Capital Required for Capital Adequacy to Risk Weighted Assets	0.1050	0.1050
Capital Required to be Well Capitalized	$ 54,663	$ 52,830
Capital Required to be Well Capitalized to Risk Weighted Assets	0.10	0.1000
Tier One Risk Based Capital	$ 67,887	$ 66,307
Tier One Risk Based Capital to Risk Weighted Assets	0.1242	0.1255
Tier One Risk Based Capital Required for Capital Adequacy	$ 46,463	$ 44,905
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	$ 43,730	$ 42,264
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets	0.08	0.0800
Common Equity Tier One Capital	$ 67,887	$ 66,307
Common Equity Tier One Capital Ratio	0.1242	0.1255
Common Equity Tier One Capital Required for Capital Adequacy	$ 38,264	$ 36,981
Common Equity Tier One Capital Required for Capital Adequacy Ratio	0.0700	0.0700
Common Equity Tier One Capital Required to be Well-Capitalized	$ 35,531	$ 34,339
Common Equity Tier One Capital Required to be Well Capitalized Ratio	0.065	0.0650
Tier One Leverage Capital	$ 67,887	$ 66,307
Tier One Leverage Capital to Average Assets	0.0960	0.0927
Tier One Leverage Capital Required for Capital Adequacy	$ 28,290	$ 28,614
Tier One Leverage Capital Required for Capital Adequacy to Average Assets	0.0400	0.0400
Tier One Leverage Capital Required to be Well Capitalized	$ 35,363	$ 35,767
Tier One Leverage Capital Required to be Well Capitalized to Average Assets	0.05	0.0500

Note 8 - Fair Value (Details Te

Note 8 - Fair Value (Details Textual)	3 Months Ended
	Mar. 31, 2022
Other Real Estate Owned [Member]
Expected Sales Costs to Appraised Value, Percentage	10.00%
Impaired Loans [Member]
Expected Sales Costs to Appraised Value, Percentage	10.00%

Note 8 - Fair Value - Summarize

Note 8 - Fair Value - Summarizes Financial Assets Measured at Fair Value (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Fair value, available for sale	$ 145,716,435	$ 149,237,916
Fair Value, Recurring [Member]
Fair value, available for sale	145,716,435	149,237,916
Mutual fund	518,091	543,605
Fair Value, Nonrecurring [Member]
Other real estate owned, net	1,242,365	1,242,365
Impaired loans	373,500	373,500
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	0	0
Mutual fund	518,091	543,605
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member]
Other real estate owned, net	0	0
Impaired loans	0	0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	145,716,435	148,587,916
Mutual fund	0	0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member]
Other real estate owned, net	0	0
Impaired loans	0	0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	0	650,000
Mutual fund	0	0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member]
Other real estate owned, net	1,242,365	1,242,365
Impaired loans	373,500	373,500
US States and Political Subdivisions Debt Securities [Member]
Fair value, available for sale	747,363	763,498
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	747,363	763,498
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	747,363	763,498
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	1,279,835	1,397,762
SBA Pools [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	1,279,835	1,397,762
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	1,279,835	1,397,762
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	10,628,077	9,234,207
Corporate Debt Securities [Member] | Fair Value, Nonrecurring [Member]
Fair value, available for sale	10,628,077	9,234,207
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member]
Fair value, available for sale	0	0
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member]
Fair value, available for sale	10,628,077	8,584,207
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member]
Fair value, available for sale	0	650,000
Collateralized Mortgage-Backed Securities [Member]
Fair value, available for sale	133,061,160	137,842,449
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	133,061,160	137,842,449
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	133,061,160	137,842,449
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	$ 0	$ 0

Note 8 - Fair Value - Estimated

Note 8 - Fair Value - Estimated Fair Value of Financial Instruments (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Fair value, held to maturity	$ 20,914,769
Securities held to maturity	20,914,769
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	27,139,193	$ 26,462,106
Noninterest-bearing deposits	132,629,508	124,175,615
Securities sold under repurchase agreements	4,083,707	5,414,026
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Certificates of deposit in other banks	350,000	350,000
Accrued interest receivable	1,562,014	1,609,063
Fair value, held to maturity	21,343,559	21,851,975
Mortgage loans held for sale	285,000	126,500
Restricted stock, at cost	695,000	675,400
Bank owned life insurance	11,609,153	11,556,163
Securities held to maturity	21,343,559	21,851,975
Interest-bearing deposits	501,151,145	502,239,055
Federal Home Loan Bank advances	5,000,000	5,000,000
Long-term debt	16,553,090	16,978,905
Accrued interest payable	276,573	295,910
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value, held to maturity	0	3,073,040
Securities held to maturity	0	3,073,040
Loans, net	483,908,857	482,011,334
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	27,139,193	26,462,106
Noninterest-bearing deposits	132,629,508	124,175,615
Securities sold under repurchase agreements	4,083,707	5,414,026
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Certificates of deposit in other banks	350,000	350,000
Accrued interest receivable	1,562,014	1,609,063
Fair value, held to maturity	20,914,769	22,805,601
Mortgage loans held for sale	287,015	128,829
Restricted stock, at cost	695,000	675,400
Bank owned life insurance	11,609,153	11,556,163
Securities held to maturity	20,914,769	22,805,601
Interest-bearing deposits	499,421,145	502,396,172
Federal Home Loan Bank advances	4,764,000	4,967,000
Long-term debt	16,718,129	17,298,111
Accrued interest payable	276,573	295,910
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value, held to maturity	0	3,073,040
Securities held to maturity	0	3,073,040
Loans, net	$ 486,099,069	$ 487,012,970

Note 9 - Earnings Per Share - B

Note 9 - Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net income	$ 2,050,802	$ 2,029,575
Weighted average shares outstanding (in shares)	3,037,137	3,011,255
Earnings per share - basic and diluted (in dollars per share)	$ 0.68	$ 0.67

Note 10 - Retirement Plans (Det

Note 10 - Retirement Plans (Details Textual)	3 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 79,740	$ 76,924
Number of Employees Covered by Life Insurance Policy	12
Other Postretirement Benefits Cost (Reversal of Cost)	$ 1,702	1,661
Employee Benefits and Share-Based Compensation	$ 511,792	472,888
Supplemental Employee Retirement Plan [Member]
Number of Employees Participating in Plan	3
Employee Benefits and Share-Based Compensation	$ 45,000	$ 42,000
Profit Sharing Plan [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	4.00%
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	100.00%