Farmers and Merchants Bancshares (FMFG) 10-K 10 Mar 23 2022 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2022	Feb. 28, 2023	Jun. 30, 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	FY
Document Fiscal Year Focus	2022
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 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
Title of 12(g) Security	Common stock, par value $.01 per share
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Public Float			$ 61,560.092
Entity Common Stock, Shares Outstanding		3,071,214
Auditor Firm ID	613
Auditor Name	YOUNT, HYDE & BARBOUR, P.C
Auditor Location	Richmond, Virginia

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Cash and due from banks	$ 6,414,822	$ 25,258,932
Federal funds sold and other interest-bearing deposits	848,715	1,203,174
Cash and cash equivalents	7,263,537	26,462,106
Certificates of deposit in other banks	100,000	350,000
Securities available for sale, at fair value	126,314,449	149,237,916
Securities held to maturity, at cost	20,508,997	21,851,975
Equity security, at fair value	489,145	543,605
Restricted stock, at cost	1,332,500	675,400
Mortgage loans held for sale	428,355	126,500
Loans, less allowance for loan losses of $4,150,198 and $3,650,268	516,920,540	482,011,334
Premises and equipment, net	6,186,594	6,259,421
Accrued interest receivable	1,815,784	1,609,063
Deferred income taxes, net	8,392,658	2,177,450
Other real estate owned, net	1,242,365	1,242,365
Bank owned life insurance	14,585,342	11,556,163
Goodwill and other intangibles, net	7,042,752	7,051,080
Other assets	5,587,654	5,522,877
Assets, Total	718,210,672	716,677,255
Deposits:
Noninterest-bearing	126,695,349	124,175,615
Interest-bearing	496,915,775	502,239,055
Total deposits	623,611,124	626,414,670
Securities sold under repurchase agreements	5,175,303	5,414,026
Federal Home Loan Bank of Atlanta advances	20,000,000	5,000,000
Long-term debt, net of issuance costs	15,095,642	16,978,905
Accrued interest payable	349,910	295,910
Other liabilities	6,203,730	5,952,286
Liabilities, Total	670,435,709	660,055,797
Commitments and contingencies
Stockholders' equity:
Common stock, par value $.01 per share, authorized 5,000,000 shares; issued and outstanding 3,071,214 in 2022 and 3,037,137 shares in 2021	30,712	30,372
Additional paid-in capital	29,549,914	28,857,422
Retained earnings	35,300,166	29,128,600
Accumulated other comprehensive loss	(17,105,829)	(1,394,936)
Stockholders' Equity Attributable to Parent, Ending Balance	47,774,963	56,621,458
Liabilities and Equity, Total	$ 718,210,672	$ 716,677,255

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Allowance for loan losses	$ 4,150,198	$ 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)	3,071,214	3,037,137
Common stock, share outstanding (in shares)	3,071,214	3,037,137

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Interest income:
Loans, including fees	$ 22,565,034	$ 23,491,614
Investment securities - taxable	2,981,300	1,511,970
Investment securities - tax exempt	570,655	611,323
Federal funds sold and other interest earning assets	152,664	65,496
Total interest income	26,269,653	25,680,403
Interest expense:
Deposits	1,375,691	1,997,873
Securities sold under repurchase agreements	12,768	44,628
Federal Home Loan Bank advances and other borrowings	757,699	762,798
Total interest expense	2,146,158	2,805,299
Net interest income	24,123,495	22,875,104
Provision for loan losses	475,000	330,000
Net interest income after provision for loan losses	23,648,495	22,545,104
Noninterest income:
Mortgage banking income	214,043	910,513
Bank owned life insurance income	229,179	229,966
Fair value adjustment of equity security	(62,094)	(15,354)
Gain on call of debt security	0	9,190
Gain on insurance proceeds, net	673,483	0
Gain on sale of SBA loans	158,123	6,917
Other	303,303	300,596
Total noninterest income	2,293,938	2,165,914
Noninterest expense:
Salaries	7,865,194	7,214,871
Employee benefits	1,798,150	1,718,465
Occupancy	890,926	948,757
Furniture and equipment	891,250	775,829
Professional services	894,715	415,642
Automated teller machine and debit card expenses	473,917	352,130
Federal Deposit Insurance Corporation premiums	180,196	306,123
Postage, delivery, and armored carrier	235,412	185,542
Advertising	258,032	233,358
Other real estate owned	21,705	190,248
Other	1,857,783	1,787,634
Total noninterest expense	15,367,280	14,128,599
Income before income taxes	10,575,153	10,582,419
Income taxes	2,485,026	2,432,813
Net income	$ 8,090,127	$ 8,149,606
Earnings per share - basic and diluted (in dollars per share)	$ 2.66	$ 2.70
Deposit Account [Member]
Noninterest income:
Noninterest revenue	$ 777,901	$ 724,086

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Net income	$ 8,090,127	$ 8,149,606
Other comprehensive loss, net of income taxes:
Securities available for sale Net unrealized loss arising during the period	(21,675,430)	(2,889,734)
Reclassification adjustment for realized gains included in net income	0	(9,190)
Total unrealized loss on investment securities available for sale	(21,675,430)	(2,898,924)
Income tax benefit	5,964,537	797,711
Total other comprehensive loss	(15,710,893)	(2,101,213)
Total comprehensive (loss) income	$ (7,620,766)	$ 6,048,393

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2020	3,011,255
Balance at Dec. 31, 2020	$ 30,113	$ 28,294,139	$ 22,698,954	$ 706,277	$ 51,729,483
Net income	0	0	8,149,606	0	8,149,606
Other comprehensive income (loss)	0	0	0	(2,101,213)	(2,101,213)
Cash dividends	$ 0	0	(1,719,960)	0	(1,719,960)
Dividends reinvested (in shares)	25,882
Dividends reinvested	$ 259	563,283	0	0	563,542
Balance (in shares) at Dec. 31, 2021	3,037,137
Balance at Dec. 31, 2021	$ 30,372	28,857,422	29,128,600	(1,394,936)	56,621,458
Net income	0	0	8,090,127	0	8,090,127
Other comprehensive income (loss)	0	0	0	(15,710,893)	(15,710,893)
Cash dividends	$ 0	0	(1,918,561)	0	(1,918,561)
Dividends reinvested (in shares)	34,077
Dividends reinvested	$ 340	692,492	0	0	692,832
Balance (in shares) at Dec. 31, 2022	3,071,214
Balance at Dec. 31, 2022	$ 30,712	$ 29,549,914	$ 35,300,166	$ (17,105,829)	$ 47,774,963

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash dividends, per share (in dollars per share)	$ 0.63	$ 0.57

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities
Net income	$ 8,090,127	$ 8,149,606
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	482,489	470,943
Provision for loan losses	475,000	330,000
Amortization of right of use asset	4,355	17,053
Gain on sale of premises and equipment	0	(44,510)
Gain on insurance proceeds	(673,483)	0
Write down of other real estate owned	0	169,240
Gain on premium call of debt security	0	(9,190)
Equity security dividends reinvested	(7,634)	(6,393)
Fair value adjustment on equity security	62,094	15,354
Gain on sale of SBA loans	(158,123)	(6,917)
Deferred income taxes	(250,672)	(160,070)
Amortization of debt issuance costs	5,625	5,625
Amortization of premiums and accretion of discounts, net	(224,663)	(7,602)
Bank owned life insurance cash surrender value	(229,179)	(229,966)
Increase (decrease) in
Deferred loan fees and costs, net	(111,160)	(204,430)
Accrued interest payable	54,000	(113,712)
Other liabilities	396,538	1,035,504
Decrease (increase) in
Mortgage loans held for sale	(301,855)	1,546,850
Accrued interest receivable	(206,721)	448,428
Other assets	(250,776)	298,917
Cash provided by operating activities	7,155,962	11,704,730
Cash flows from investing activities
Proceeds from maturity and call of securities, Available for sale	19,994,811	31,327,354
Proceeds from maturity and call of securities, Held to maturity	1,456,420	2,171,420
Purchase of securities, Available for sale	(19,193,215)	(129,676,971)
Purchase of securities, Held to maturity	0	(842,062)
Redemption of certificates of deposit	250,000	500,000
Loans made to customers, net of principal collected	(35,960,009)	39,861,460
Proceeds from sale of SBA loans	1,250,154	61,595
(Purchase) redemption of restricted stock	(657,100)	225,100
Proceeds from sale of premises and equipment	0	1,387,613
Proceeds from insurance	711,214	0
Purchase of bank owned life insurance	(2,800,000)	(28,855)
Purchase of annuity	0	(3,671,145)
Purchases of premises, equipment and software	(410,843)	(300,402)
Cash used in investing activities	(35,358,568)	(58,984,893)
Cash flows from financing activities
Noninterest-bearing deposits	2,519,734	21,020,502
Interest-bearing deposits	(5,162,357)	32,242,461
Securities sold under repurchase agreements	(238,722)	(19,339,946)
Federal Home Loan Bank of Atlanta advances	15,000,000	0
Long-term debt	(1,888,889)	0
Dividends paid, net of reinvestments	(1,225,729)	(1,156,418)
Cash provided by financing activities	9,004,037	32,766,599
Net decrease in cash and cash equivalents	(19,198,569)	(14,513,564)
Cash and cash equivalents at beginning of period	26,462,106	40,975,670
Cash and cash equivalents at end of period	7,263,537	26,462,106
Supplementary disclosure of cash flow information:
Cash paid during the period for interest	2,239,129	3,154,898
Cash paid during the period for income taxes	3,365,318	1,605,500
Net unrealized loss on securities available for sale	$ (21,675,430)	$ (2,898,924)

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. Summary of Significant Accounting Policies The accounting and reporting policies reflected in the financial statements conform to accounting principles generally accepted in the United States of America and to general practices within the banking industry. Management makes estimates and assumptions that affect the reported amounts of assets, liabilities, and disclosures of commitments and contingent liabilities at the balance sheet date, and revenues and expenses during the year. These estimates and assumptions may Principles of consolidation The consolidated financial statements include the accounts of Farmers and Merchants Bancshares, Inc. and its wholly owned subsidiaries, Farmers and Merchants Bank (the “Bank”), and Series Protected Cell FCB- 4 one October 1, 2020, Business The Bank provides banking services to individuals and businesses located in Baltimore County, Maryland, Carroll County, Maryland and surrounding areas of northern Maryland. The Insurance Subsidiary is a captive insurance entity that provides insurance coverage for the Bank. The Bank chose not November 7, 2022, may November 7, 2023. Reclassifications Certain reclassifications have been made to the 2021 no Cash and cash equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, money market funds, and federal funds sold. Generally, federal funds are purchased and sold for one Comprehensive (loss) income Comprehensive (loss) income includes net income and the unrealized gains or losses on investment securities available for sale, net of income taxes. Investment securities As debt securities are purchased, management determines if the securities should be classified as held to maturity or available for sale. Securities that management has the intent and ability to hold to maturity are recorded at amortized cost, which is cost adjusted for amortization of premiums and accretion of discounts. Discounts are accreted through maturity. Premiums are amortized through the earliest call date. Securities held to meet liquidity needs or that may The Company regularly evaluates its securities whose values have declined below their amortized cost to assess whether the decline in fair value is other-than-temporary. The Company considers various factors in determining whether a decline in fair value is other-than-temporary including the issuer's financial condition and/or future prospects, the effects of changes in interest rates or credit spreads, the expected recovery period and other quantitative and qualitative information. The valuation of securities for impairment is a process subject to estimation, judgment and uncertainty and is intended to determine whether declines in the fair value of investments should be recognized in current period earnings. The risks and uncertainties include changes in general economic conditions and future changes in assessments of the aforementioned factors. It is expected that such factors will change in the future, which may not not not Equity security at fair value The Company owns a mutual fund that is measured at fair value with changes in fair value recognized in noninterest income. Restricted stock, at cost Restricted stock consists of Federal Home Loan Bank of Atlanta (the “FHLB”) stock, Community Bankers Bank (“CBB”) stock, and Atlantic Community Bankers Bank (“ACBB”) stock. As a member of the FHLB, the Bank is required to purchase FHLB stock in an amount that is based on the Bank’s total assets. Additional stock is purchased and redeemed based on the outstanding FHLB advances to the Bank. CBB and ACBB require its correspondent banking institutions to hold stock as a condition of membership. The restricted investment in bank stocks is carried at cost. On a quarterly basis, management evaluates the bank stocks for impairment based on assessment of the ultimate recoverability of cost rather than by recognizing temporary declines in value. The determination of whether a decline affects the ultimate recoverability of cost is influenced by criteria such as operating performance, liquidity, funding and capital positions, stock repurchase history, dividend history, and impact of legislative and regulatory changes. Loans and allowance for loan losses Loans are stated at the current amount of unpaid principal, adjusted for deferred origination costs, deferred origination fees, premiums and discounts on acquired loans, and the allowance for loan losses. Interest on loans is accrued based on the principal amounts outstanding. Origination fees and costs, along with premiums and accretable discounts, are amortized to income over the terms of loans. Past due status is based on the contractual terms of the loan. Management may 90 not The allowance for loan losses represents an amount which, in management’s judgment, will be adequate to absorb probable and estimable losses on existing loans and other extensions of credit that may three not The allowances established for probable and estimable losses on impaired loans are based on a regular analysis and evaluation of problem loans. Management maintains a watch list of problem loans. Loans are classified based on an internal credit risk grading process that evaluates, among other things: (i) the borrower’s ability to repay; (ii) the underlying collateral, if any; (iii) the economic environment; and (iv) for commercial borrowers, the industry in which the borrower operates. Specific valuation allowances are determined when the collateral value, if the loan is collateral dependent, or the discounted cash flows of the impaired loan is lower than the carrying value. Historical valuation allowances are calculated based on the historical loss experience of specific types of loans. The Company calculates historical loss ratios for pools of similar loans with similar characteristics based on the proportion of actual charge-offs experienced to the total population of loans in the pool over the prior twenty Adjustments to the historical valuation allowances are based on general economic conditions and other qualitative risk factors both internal and external to the Company. In general, such adjustments are determined by evaluating, among other things: (i) the impact of economic conditions on the portfolio; (ii) changes in asset quality, including delinquency trends; (iii) the impact of changing interest rates on portfolio risk; (iv) changes in legislative and regulatory policy; (v) the composition and concentrations of credit; and (vi) the effectiveness of the internal loan review function as well as changes to policies and experience of loan personnel. Management evaluates these qualitative factors on a quarterly basis. Each factor could result in an adjustment that is positive, negative, or no Loan losses are charged to the allowance when management believes that collection is unlikely. Collections of loans previously charged off are added to the allowance at the time of recovery. Loans acquired in connection with business combinations are recorded at fair value with no Loans acquired through business combinations that are designated as purchase credit impaired loans because they meet the specific criteria of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 310 30, The excess of cash flows expected at acquisition over the estimated fair value is referred to as the accretable discount and is recognized into interest income over the remaining life of the loan. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the nonaccretable difference. These loans are accounted for under ASC 310 30. Loans acquired through business combinations that do not 310 30 310 20, no no Mortgage loans held for sale and mortgage banking income Mortgage loans held for sale are carried at the lower of aggregate cost or fair value based on the current fair value of each outstanding loan. Sales of loans are recorded when the proceeds are received, with any gain or loss recorded in mortgage banking income. The Company sells its mortgage loans to third no third not third Premises and equipment Land is carried at cost. Premises and equipment are recorded at cost less accumulated depreciation and amortization. Depreciation on buildings and equipment is computed over the estimated useful lives of the assets using the straight-line method. Leasehold improvements are amortized using the straight-line method over the term of the lease or the estimated useful lives of the asset, whichever is shorter. Other real estate owned Real estate acquired through foreclosure or by deed in lieu of foreclosure is recorded at fair value less estimated costs to sell on the date acquired establishing a new cost basis. Losses incurred at the time of acquisition of the property are charged to the allowance for loan losses. Subsequent reductions in the estimated value of the property are included with any gains or losses on sale in noninterest expense. Bank owned life insurance The Company has purchased life insurance policies on certain key executives. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement. Goodwill and other intangible assets Goodwill is calculated as the purchase premium, if any, after adjusting for the fair value of net assets acquired in purchase transactions. Goodwill is not 10 Revenue recognition ASC Topic 606 not 606 Service Charges on Deposit Accounts: Interchange Income Other Service Charges and Fees: Operating leases The Company accounts for lease obligations in accordance with FASB Accounting Standards Update (“ASU”) 2016 02, 842 2016‑02, no Advertising costs Advertising costs are expensed in the period incurred and totaled $ 258,032 December 31, 2022 2021, Income taxes The provision for income taxes includes income taxes payable for the current year and deferred income taxes. Deferred tax assets and liabilities are determined based on the difference between the financial statement basis and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. A tax position is recognized as a benefit only if it is “more likely than not” 50% not not” no Per share data Earnings per share is determined by dividing net income by the weighted average number of shares of common stock outstanding, giving retroactive effect to any stock dividends. Weighted average shares were 3,046,377 2022 2021, December 31, 2022 December 31, 2021. Recent accounting pronouncements Management has the responsibility for the selection and use of appropriate accounting policies. The significant accounting policies used by the Company are described in the notes to the consolidated financial statements. The following accounting guidance has been approved by the FASB and would apply to the Company if the Company entered into an applicable activity. During June 2016, 2016 13, 326 2016 13 January 1, 2023 not December 31, 2022 The Company is utilizing a third 326, not may In March 2022, 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 In March 2020, 2020 04, 848 2020 04 March 12, 2020 December 31, 2022. In December 2022, 2022 06, 848 848”. 2022 06 848. 848 848 2021, June 30, 2023. 848 may 848 December 31, 2022, December 31, 2024, no 848. The ASU is effective for all entities upon issuance. The Company is assessing ASU 2022 06 The accounting policies adopted by management are consistent with authoritative GAAP and are consistent with those followed by our peers.

Note 2 - Cash and Cash Equivale

Note 2 - Cash and Cash Equivalents	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Cash and Cash Equivalents Disclosure [Text Block]	2. Cash and Cash Equivalents The Company normally carries balances with other banks that exceed the federally insured limit. The average balance carried in excess of the limit, including unsecured federal funds sold to the same banks, was $ 11,945,635 December 31, 2022 2021, Deposits held in noninterest-bearing transaction accounts are aggregated with any interest-bearing deposits the owner may $250,000. Banks are required to carry noninterest-bearing cash reserves of specified percentages of deposit balances. The Company's normal balances of cash on hand and on deposit with other banks are sufficient to satisfy the reserve requirements. The FRB reserve requirement was $0 December 31, 2022 2021.

Note 3 - Investment Securities

Note 3 - Investment Securities	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	3. Investment Securities Debt securities are summarized as follows: Amortized Unrealized Unrealized Fair December 31, 2022 cost gains losses value Available for sale State and municipal $ 570,122 $ - $ 17,841 $ 552,281 SBA pools 1,033,606 1,425 15,234 1,019,797 Corporate bonds 10,414,146 - 1,024,250 9,389,896 Mortgage-backed securities 137,896,519 - 22,544,044 115,352,475 $ 149,914,393 $ 1,425 $ 23,601,369 $ 126,314,449 Held to maturity State and municipal $ 20,508,997 $ 4,176 $ 1,633,378 $ 18,879,795 December 31, 2021 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 December 31, 2022 cost value cost value Within one year $ 580,522 $ 564,841 $ 330,000 $ 330,175 Over one to five years 3,079,483 2,937,072 474,937 469,235 Over five to ten years 7,324,263 6,440,264 3,308,340 3,162,389 Over ten years - - 16,395,720 14,917,996 10,984,268 9,942,177 20,508,997 18,879,795 Mortgage-backed securities and SBA pools, due in monthly installments 138,930,125 116,372,272 - - $ 149,914,393 $ 126,314,449 $ 20,508,997 $ 18,879,795 Securities with a carrying value of $24,258,980 December 31, 2022 2021, The following table sets forth the Company's gross unrealized losses on a continuous basis for investment securities, by category and length of time. December 31, 2022 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 $ 13,668,676 $ 1,057,412 $ 1,537,715 $ 593,807 $ 15,206,391 $ 1,651,219 SBA pools - - 857,259 15,234 857,259 15,234 Corporate bonds 4,184,875 356,746 4,805,021 667,504 8,989,896 1,024,250 Mortgage-backed securities 25,284,430 2,293,151 90,068,045 20,250,893 115,352,475 22,544,044 Total $ 43,137,981 $ 3,707,309 $ 97,268,040 $ 21,527,438 $ 140,406,021 $ 25,234,747 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 December 31, 2022, not December 31, 2022, none In 2022, In 2021,

Note 4 - Related Party Transact

Note 4 - Related Party Transactions	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	4. Related Party Transactions Certain executive officers and directors of the Company, including members of their immediate families and companies in which they are significant owners (more than 10% 2022 2021. not December 31, 2022 2021, 2022 2021 Balance, beginning of year $ 13,822,556 $ 14,558,882 Additions 3,274,719 2,489,000 Amounts collected (4,869,554 ) (3,225,326 ) Balance, end of year $ 12,227,721 $ 13,822,556 Unused lines of credit to related parties totaled $208,100 December 31, 2022 2021, Letters of credit issued to related parties totaled $ 15,847 December 31, 2022 2021, Deposits at the Company from related parties totaled $10,138,362 December 31, 2022 2021, Payments to companies controlled by directors totaled $54,624 2022 2021. On March 31, 2021, one

Note 5 - Loans

Note 5 - Loans	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	5. Loans Major categories of loans at December 31, 2022 2021 2022 2021 Real estate: Commercial $ 351,794,702 $ 319,185,116 Construction and land development 23,978,373 28,221,854 Residential 114,683,149 107,436,033 Commercial 31,066,497 31,182,206 Consumer 156,422 355,958 521,679,143 486,381,167 Less: Allowance for loan losses 4,150,198 3,650,268 Deferred origination fees net of costs 608,405 719,565 $ 516,920,540 $ 482,011,334 Commercial loans in the table above include $0.7 million and $9.7 million of Paycheck Protection Program (“PPP”) loans as of December 31, 2022 December 31, 2021, 100% 2022 2021. Year-end nonaccrual loans, segregated by class of loans, were as follows: 2022 2021 Real estate: Commercial $ 502,961 $ 4,810,965 Residential - 31,500 Commercial 152,449 152,449 Total $ 655,410 $ 4,994,914 At December 31, 2022, one one 2022 At December 31, 2021, two one one 2021 December 31, 2021. An age analysis of past due loans, segregated by class of loans, as of year-end, is as follows: 90 Days Past Due 90 30 - 59 Days 60 - 89 Days or More Total Total Days or More Past Due Past Due Past Due Past Due Current Loans and Accruing December 31, 2022 Real estate: Commercial $ - $ - $ 502,961 $ 502,961 $ 351,291,741 $ 351,794,702 $ - Construction and land development - - - - 23,978,373 23,978,373 - Residential 311,409 - - 311,409 114,371,740 114,683,149 - Commercial - - 152,449 152,449 30,914,048 31,066,497 - Consumer - - - - 156,422 156,422 - Total $ 311,409 $ - $ 655,410 $ 966,819 $ 520,712,324 $ 521,679,143 $ - 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 Year-end impaired loans, segregated by class of loans, are set forth in the following table: Unpaid Recorded Recorded Contractual Investment Investment Total Average Principal With No With Recorded Related Recorded Interest Balance Allowance Allowance Investment Allowance Investment Recognized December 31, 2022 Commercial real estate $ 7,019,415 $ 6,516,454 $ 502,961 $ 7,019,415 $ 129,461 $ 6,920,174 $ 223,476 Residential real estate 256,350 256,350 - 256,350 - 147,789 10,594 Commercial 152,449 - 152,449 152,449 152,449 152,449 - $ 7,428,214 $ 6,772,804 $ 655,410 $ 7,428,214 $ 281,910 $ 7,220,412 $ 234,070 December 31, 2021 Commercial real estate $ 6,820,932 $ 6,317,971 $ 502,961 $ 6,820,932 $ 129,461 $ 6,740,539 $ 125,079 Construction and land development - - - - - - - Residential real estate 39,228 39,228 - 39,228 - 41,981 1,672 Commercial 152,449 - 152,449 152,449 152,449 76,225 69,005 $ 7,012,609 $ 6,357,199 $ 655,410 $ 7,012,609 $ 281,910 $ 6,858,745 $ 195,756 Impaired loans include certain loans, classified as TDRs that have been modified to grant economic concessions to borrowers who have experienced or are expected to experience financial difficulties. These concessions typically result from the Company's loss mitigation activities and could include reductions in the interest rate, payment extensions, forgiveness of principal, forbearance, or other actions. Certain TDRs are classified as nonperforming at the time of restructure and may six At December 31, 2022, two $6,516,454 two $256,350 four None four 4,542,896 222,767 2022. At December 31, 2021, one two no 2021. As part of our portfolio risk management, the Company assigns a risk grade to each loan. The factors used to determine the grade are the payment history of the loan and the borrower, the value of the collateral and net worth of the guarantor, and cash flow projections of the borrower. Excellent, Above Average, Average and Acceptable grades are assigned to loans with limited or no A description of the general characteristics of loans characterized as watch list or classified is as follows: Pass/Watch Loans graded as Pass/Watch reflect above-average risk. The loans warrant closer scrutiny by management than is routine, due to circumstances affecting the borrower, the borrower's industry, or the overall economic environment. Borrowers may Special Mention A special mention loan has potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may not not Borrowers may may may Substandard A substandard loan is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Substandard loans have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not Borrowers may Doubtful A doubtful loan has all the weaknesses inherent as a substandard loan with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loans by credit grade, segregated by loan type, at year-end, are as follows: Above Pass Special December 31, 2022 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ - $ 65,908,980 $ 201,854,424 $ 70,826,837 $ 3,558,954 $ 9,645,507 $ - $ 351,794,702 Construction and land development - - 3,845,351 12,087,402 8,045,620 - - - 23,978,373 Residential 15,613 573,108 35,774,807 63,833,864 10,815,681 1,397,282 2,272,794 - 114,683,149 Commercial 178,916 - 4,347,337 16,039,145 9,773,961 574,689 152,449 - 31,066,497 Consumer 722 15,715 93,684 4,439 6,481 - - 35,381 156,422 $ 195,251 $ 588,823 $ 109,970,159 $ 293,819,274 $ 99,468,580 $ 5,530,925 $ 12,070,750 $ 35,381 $ 521,679,143 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 following tables detail activity in the allowance for loan losses by portfolio for the years ended December 31, 2022 2021. one not Allowance for loan losses ending Outstanding loan balances Provision balance evaluated for impairment: evaluated for impairment: Beginning for loan Charge Ending Purchase Credit Purchase Credit December 31, 2022 balance losses offs Recoveries balance Individually Impaired Collectively Individually Impaired Collectively Real estate: Commercial $ 2,482,930 $ 343,424 $ (7,772 ) $ - $ 2,818,582 $ 129,461 $ - $ 2,689,121 $ 7,019,415 $ - $ 344,775,287 Construction and land development 214,547 (66,151 ) - 16,200 164,596 - - 164,596 - 369,622 23,608,751 Residential 603,558 171,391 - 18,970 793,919 - - 793,919 256,350 209,583 114,217,216 Commercial 255,413 84,358 (2,468 ) - 337,303 152,449 - 184,854 152,449 - 30,914,048 Consumer 4,370 336 - - 4,706 - - 4,706 - - 156,422 Unallocated 89,450 (58,358 ) - - 31,092 - - 31,092 - - - $ 3,650,268 $ 475,000 $ (10,240 ) $ 35,170 $ 4,150,198 $ 281,910 $ - $ 3,868,288 $ 7,428,214 $ 579,205 $ 513,671,724 Allowance for loan losses ending Outstanding loan balances Provision balance evaluated for impairment: evaluated for impairment: Beginning for loan Charge Ending Purchase Credit Purchase Credit December 31, 2021 balance losses offs Recoveries balance Individually Impaired Collectively Individually Impaired Collectively Real estate: Commercial $ 2,230,129 $ 241,301 $ - $ 11,500 $ 2,482,930 $ 129,461 $ - $ 2,353,469 $ 6,820,932 $ 56,825 $ 312,307,359 Construction and land development 201,692 (3,345 ) - 16,200 214,547 - - 214,547 - 383,666 27,838,188 Residential 644,639 (22,111 ) (18,970 ) - 603,558 - - 603,558 39,228 568,151 106,828,654 Commercial 111,390 129,023 - 15,000 255,413 152,449 - 102,964 152,449 - 31,029,757 Consumer 2,138 2,232 - - 4,370 - - 4,370 - - 355,958 Unallocated 106,550 (17,100 ) - - 89,450 - - 89,450 - - - $ 3,296,538 $ 330,000 $ (18,970 ) $ 42,700 $ 3,650,268 $ 281,910 $ - $ 3,368,358 $ 7,012,609 $ 1,008,642 $ 478,359,916 Loans acquired from Carroll were measured at fair value at the acquisition date with no Balance at December 31, 2021 $ 1,629,242 Transfer to accretable - Accretion (698,269 ) Balance at December 31, 2022 $ 930,973 During 2021, At December 31, 2022, December 31, 2021 December 31, 2022, December 31, 2022, 2022 2021, December 31, 2022, Loans having an aggregate balance of approximately $458.9 December 31, 2022. $62.7 December 31, 2022. December 31, 2022 2021, $13.5 The Company makes loans to customers located primarily in Baltimore County and Carroll County, Maryland and in surrounding areas of northern Maryland. Although management believes that the loan portfolio is diversified, many loans are secured by real estate and its performance will be influenced by the economy of the region, including local real estate markets.

Note 6 - Premises and Equipment

Note 6 - Premises and Equipment	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	6. Premises and Equipment A summary of premises and equipment is as follows: Useful lives 2022 2021 Land and improvements - $ 2,602,998 $ 2,602,998 Buildings and improvements 15-39 years 6,171,003 6,302,622 Furniture and equipment 3-10 years 5,162,976 4,752,133 13,936,977 13,657,753 Accumulated depreciation and amortization 7,750,383 7,398,332 $ 6,186,594 $ 6,259,421 Depreciation and amortization expense $ 445,939 $ 434,434 In July 2022, On March 31, 2021, Software with a net book value of $90,927 December 31, 2022 2021, $36,550 2022 2021,

Note 7 - Goodwill and Other Int

Note 7 - Goodwill and Other Intangibles	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	7. Goodwill and Other Intangibles The Merger in October 2020 Goodwill CDI Total Balance at December 31, 2020 $ 6,978,208 $ 81,200 $ 7,059,408 Amortization - (8,328 ) (8,328 ) Balance at December 31, 2021 6,978,208 72,872 7,051,080 Amortization - (8,328 ) (8,328 ) Balance at December 31, 2022 $ 6,978,208 $ 64,544 $ 7,042,752 The CDI is being amortized over 10 years on a straight line basis. Annual amortization will be $8,328 per year and $6,246 in year 10. not

Note 8 - Commitments and Contin

Note 8 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	8. Commitments and Contingencies Lease Commitments The Company has an operating lease for the land on which the Hampstead branch is located. The initial term of the lease expired on September 30, 2009 three five September 30, 2024. five five July 2012, five January 2018, one five five June 2015. July 2019, June 2020 three five May 2018, five two five The following table shows operating lease right of use assets and operating lease liabilities as of December 31, 2022: Consolidated Balance Sheet classification December 31, 2022 December 31, 2021 Operating lease right of use asset Other assets $ 943,933 $ 1,093,382 Operating lease liabilities Other liabilities 1,166,476 1,311,570 Operating lease cost included in occupancy expense in the statement of income was $ 188,909 2022 2021. Future undiscounted lease payments for operating leases with initial terms of one December 31, 2022 Year Amount 2023 $ 188,734 2024 194,252 2025 199,944 2026 205,816 2027 211,874 Thereafter 282,496 Total lease payments 1,283,116 Less imputed interest (116,640 ) Present value of operating lease liabilities $ 1,166,476 For operating leases as of December 31, 2022, December 31, 2022 2021, 184,554 Credit Commitments Outstanding loan commitments, unused lines of credit, and letters of credit as of December 31, 2022 2021 Loan commitments Construction and land development $ 911,500 $ 6,810,353 Commercial 398,046 630,000 Commercial real estate 9,264,000 23,552,400 Residential 3,402,371 3,804,617 $ 13,975,917 $ 34,797,370 Unused lines of credit Home-equity lines $ 12,086,758 $ 12,707,519 Commercial lines 25,464,025 28,828,911 $ 37,550,783 $ 41,536,430 Letters of credit $ 1,403,956 $ 1,470,742 Loan commitments and lines of credit are agreements to lend to a customer as long as there is no may not third The maximum exposure to credit loss in the event of nonperformance by the customer is the contractual amount of the commitment. Loan commitments, lines of credit and letters of credit are made on the same terms, including collateral, as outstanding loans. Management is not Insurance Reserves Until November 6, 2022, not one not December 31, 2022 2021 $530,720 not November 6, 2022. may

Note 9 - Retirement Plans

Note 9 - Retirement Plans	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Retirement Benefits [Text Block]	9. Retirement Plans The Company has a profit sharing plan qualifying under Section 401 21 six may $256,251 2022 2021, The Company has entered into agreements with 12 $6,809 2022 2021, The Company adopted supplemental executive retirement plans for four of its executives. The plans provide cash compensation to the executive officers under certain circumstances, including a separation of service. The benefits vest over the period from adoption to a specified age for each executive. The Company recorded expenses, including interest, of $154,911 2022 2021, Retirement plan expenses are included in employee benefits on the Consolidated Statements of Income.

Note 10 - Interest-bearing Depo

Note 10 - Interest-bearing Deposits	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Deposit Liabilities Disclosures [Text Block]	10. Interest-Bearing Deposits Major classifications of interest-bearing deposits are as follows: 2022 2021 NOW $ 135,716,736 $ 130,486,845 Money market 99,173,640 90,994,339 Savings 103,308,454 99,959,988 Certificates of deposit, greater than $250,000 37,976,238 34,697,273 Other time deposits 120,740,707 146,100,610 $ 496,915,775 $ 502,239,055 As of December 31, 2022, Year Amount 2023 $ 110,590,325 2024 39,187,383 2025 4,711,082 2026 2,570,470 2027 1,657,685 $ 158,716,945 In connection with the Merger, the Company recognized a certificate of deposit premium of $616,377, which is being accreted using the interest method based upon the maturity of each certificate of deposit. Accretion of $160,923 and $249,840 were recorded in 2022 2021,

Note 11 - Borrowed Funds

Note 11 - Borrowed Funds	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Debt Disclosure [Text Block]	11. Borrowed Funds Borrowed funds consist of securities sold under repurchase agreements, which represent overnight or term borrowings from customers, advances from the FHLB of Atlanta, the FRB, and overnight borrowings from a commercial bank. The government agency securities that are the collateral for these agreements are owned by the Company and maintained in the custody of an unaffiliated agent designated by the Company. On September 30, 2020, October 1, 2020, September 30, 2025. October 1, 2021. nine Additional information is as follows: 2022 2021 Amounts outstanding at year-end: Securities sold under repurchase agreements $ 5,175,303 $ 5,414,026 Federal Home Loan Bank advances: Maturity date Interest Rate Amount 3/30/2025 - fixed rate 1.00% 5,000,000 5,000,000 11/20/2023 - daily rate 4.57% 15,000,000 - Total $ 20,000,000 $ 5,000,000 Long-term debt (net of issuance costs): Maturity date Interest Rate Amount 9/30/2025 4.10% 15,095,642 16,978,905 Weighted average rate paid at December 31: Securities sold under repurchase agreements 0.30 % 0.31 % Federal Home Loan Bank advances 3.68 % 1.00 % Long-term debt 4.10 % 4.10 % Average rate paid during the year ended December 31: Securities sold under repurchase agreements 0.30 % 0.43 % Federal Home Loan Bank advances 1.55 % 1.01 % Long-term debt 4.10 % 4.10 % Investment securities underlying the repurchase agreements at December 31: Carrying value $ 11,389,983 $ 7,062,928 Loans pledged to the Federal Home Loan Bank at December 31: Carrying value - loans $ 458,863,387 $ 111,547,027 Loans pledged to the Federal Reserve Bank at December 31: Carrying value $ 62,720,368 $ 55,399,031 The Company is approved to borrow approximately $60.5 million against eligible pledged single family residential loans, eligible pledged multi-family loans, eligible pledged commercial loans, and eligible pledged securities under a secured line of credit with the FHLB. In addition, the Company has a facility with the FRB whereby the Company can borrow up to $25.4 million. The Company also has available an unsecured federal funds line of credit of $14.5 million and a secured federal funds line of credit of $9 million from commercial banks.

Note 12 - Income Taxes

Note 12 - Income Taxes	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Income Tax Disclosure [Text Block]	12. Income Taxes The components of income tax expense are as follows: 2022 2021 Current Federal $ 1,852,205 $ 1,798,535 State 883,493 794,348 2,735,698 2,592,883 Deferred (250,672 ) (160,070 ) $ 2,485,026 $ 2,432,813 The components of the deferred tax expense are as follows: 2022 2021 Depreciation $ 15,108 $ 8,291 Insurance proceeds for storm damage 185,326 $ - Provision for loan losses (160,332 ) (141,488 ) Other real estate owned allowance for loss - (46,561 ) Nonaccrual interest (29,429 ) (83,961 ) Prepaid captive insurance premium (357,518 ) (14,375 ) Write-down of equity securities (11,583 ) (4,227 ) Lease liability, net of right of use asset (1,198 ) (4,693 ) Purchase accounting adjustments 153,455 175,037 Post-retirement benefits (44,501 ) (48,093 ) $ (250,672 ) $ (160,070 ) The components of the net deferred tax asset are as follows: 2022 2021 Deferred tax assets Allowance for loan losses $ 1,111,679 $ 951,348 Other real estate owned allowance for loss 434,628 434,628 Capital loss carryover - 5,300 Nonaccrual interest 118,010 88,581 Post-retirement benefits 695,983 651,482 Purchase accounting adjustments 81,687 235,142 Unrealized loss on securities available for sale 6,433,263 468,726 Lease liability, net of right of use asset 61,238 60,040 Other 21,079 - 8,957,567 2,895,247 Deferred tax liabilities Prepaid captive insurance premium - 357,518 Depreciation 364,008 348,900 Insurance proceeds from storm damage 185,326 - Other 15,575 11,379 564,909 717,797 Net deferred tax asset $ 8,392,658 $ 2,177,450 The differences between the federal income tax rate in effect each year and the effective tax rate for the Company are reconciled as follows: 2022 2021 Statutory federal income tax rate 21.0 % 21.0 % Increase (decrease) resulting from: Federal tax-exempt income (3.6 ) (4.4 ) State income taxes, net of federal income tax benefit 5.8 5.8 Other 0.3 0.6 23.5 % 23.0 % Included in Federal tax-exempt income is the insurance premium revenue of the Insurance Subsidiary. The IRS recently audited our fiscal year 2016, 2017, 2018 not December 31, 2022 2019, 2020, 2021 2019, 2020 2021 not may not The Company does not not December 31, 2018.

Note 13 - Capital Standards

Note 13 - Capital Standards	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Regulatory Capital Requirements under Banking Regulations [Text Block]	13. Capital Standards The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possible additional, discretionary actions by the regulators that, if undertaken, could have a direct material effect on our financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, we must meet specific capital guidelines that involve quantitative measures of our assets, liabilities, and certain off‑balance sheet items as calculated under regulatory accounting practices. Our capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. The Basel III Capital Rules became effective for the Bank on January 1, 2015 1 1 1 In connection with the adoption of the Basel III Capital Rules, the Bank elected to opt-out of the requirement to include accumulated other comprehensive income in Common Equity Tier 1 1 Under the revised prompt corrective action requirements, insured depository institutions are required to meet the following in order to qualify as "well capitalized:" (i) a Common Equity Tier 1 6.5%; 1 8%; 10%; 1 5%. The implementation of the capital conservation buffer began on January 1, 2015, 0.625% four January 1, 2.5% January 1, 2019 not The aforementioned capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of Common Equity Tier 1 On September 17, 2019, On April 6, 2020, two 8% second 2020, 8.5% 2021, 9% 1 8%, $10 not not The following table presents actual and required capital ratios as of December 31, 2022 2021, December 31, 2022 2021, As of December 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. The following table presents actual and required capital ratios as of December 31, 2022 2021, Minimum To Be Well (Dollars in thousands) Actual Capital Adequacy Capitalized December 31, 2022 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 75,826 12.96 % $ 61,410 10.50 % $ 58,486 10.00 % Tier 1 capital (to risk-weighted assets) 71,676 12.26 % 49,713 8.50 % 46,789 8.00 % Common equity tier 1 (to risk- weighted assets) 71,676 12.26 % 40,940 7.00 % 38,016 6.50 % Tier 1 leverage (to average assets) 71,676 9.83 % 29,167 4.00 % 36,459 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 14 - Fair Value

Note 14 - Fair Value	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Fair Value Disclosures [Text Block]	14. Fair Value Accounting standards define fair value as the price that would be received upon the sale of an asset or paid upon the transfer of a liability in an orderly transaction between market participants (an “exit” price). The price in the principal market used to measure the fair value of the asset or liability is not The standards require the use of valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. The standards establish a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: ● Level 1: ● Level 2: 1 not ● Level 3: The Company uses the following methods and significant assumptions to estimate the fair values of the following assets: ● Securities available for sale: The fair values of securities available for sale are determined by obtaining quoted prices from a nationally recognized securities pricing agent. If quoted market prices are not not ● Equity security at fair value: The Company’s investment in an equity mutual fund is valued based on the net asset value of the fund, which is classified as Level 1. ● Other real estate owned (“OREO”): Nonrecurring fair value adjustments to OREO reflect full or partial write-downs that are based on the OREO’s observable market price or current appraised value of the real estate. Since the market for OREO is not 3. third $0 ● Impaired loans: Nonrecurring fair value adjustments to impaired loans reflect full or partial write-downs and reserves that are based on the impaired loan’s observable market price or current appraised value of the collateral. Since the market for impaired loans is not 3. third The following table summarizes financial assets measured at fair value on a recurring and nonrecurring basis as of December 31, 2022 2021, Carrying Value: Level 1 Level 2 Level 3 Total December 31, 2022 Recurring: Available for sale securities State and municipal $ - $ 552,281 $ - $ 552,281 SBA pools - 1,019,797 - 1,019,797 Corporate bonds - 8,989,896 400,000 9,389,896 Mortgage-backed securities - 115,352,475 - 115,352,475 $ - $ 125,914,449 $ 400,000 $ 126,314,449 Equity security at fair value $ 489,145 $ - $ - $ 489,145 Nonrecurring: Other real estate owned, net $ - $ - $ 1,242,365 $ 1,242,365 Impaired loans - - 373,500 373,500 December 31, 2021 Recurring: Available for sale securities State and municipal $ - $ 763,498 $ - $ 763,498 SBA pools - 1,397,762 - 1,397,762 Corporate bonds - 8,584,207 650,000 9,234,207 Mortgage-backed securities - 137,842,449 - 137,842,449 $ - $ 148,587,916 $ 650,000 $ 149,237,916 Equity security at fair value $ 543,605 $ - $ - $ 543,605 Nonrecurring: Other real estate owned, net $ - $ - $ 1,242,365 $ 1,242,365 Impaired loans - - 373,500 373,500 The following table provides information describing the unobservable inputs used in level 3 December 31, 2022 2021: December 31, 2022 and 2021 Description of Asset Fair Value Valuation technique Unobservable Inputs Range (Average) Loans with Impairment $ 373,500 Third party appraisals and in-house real estate valuations of fair value Marketability/selling costs and current market conditions 0% to 20% (10%) Other real estate loans $ 1,242,365 Third party appraisals and in-house real estate valuations of fair value Marketability/selling costs and current market conditions 0% to 10% (5%) Reconciliation of Level 3 Inputs Corporate Bonds December 31, 2021 fair value $ 650,000 Additions - Principal payments received - Transfer to level 2 (250,000 ) December 31, 2022 fair value $ 400,000 The estimated fair value of financial instruments that are reported at amortized cost in the Company’s consolidated balance sheets, segregated by the level of the valuation inputs were as follows: December 31, 2022 December 31, 2021 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets Level 1 inputs Cash and cash equivalents $ 7,263,537 $ 7,263,537 $ 26,462,106 $ 26,462,106 Level 2 inputs Certificates of deposit in other banks 100,000 100,000 350,000 350,000 Accrued interest receivable 1,815,784 1,815,784 1,609,063 1,609,063 Securities held to maturity 17,537,377 15,908,175 18,778,935 19,732,561 Mortgage loans held for sale 428,355 434,271 126,500 128,829 Restricted stock, at cost 1,332,500 1,332,500 675,400 675,400 Bank owned life insurance 14,585,342 14,585,342 11,556,163 11,556,163 Level 3 inputs Securities held to maturity (1) 2,971,620 2,971,620 3,073,040 3,073,040 Loans, net 516,920,540 503,144,771 482,011,334 487,012,970 Financial liabilities Level 1 inputs Noninterest-bearing deposits $ 126,695,349 $ 126,695,349 $ 124,175,615 $ 124,175,615 Securities sold under repurchase agreements 5,175,303 5,175,303 5,414,026 5,414,026 Level 2 inputs Interest-bearing deposits 496,915,775 492,769,775 502,239,055 502,396,172 Federal Home Loan Bank advances 20,000,000 19,622,000 5,000,000 4,967,000 Long-term debt 15,095,642 14,241,237 16,978,905 17,298,111 Accrued interest payable 349,910 349,910 295,910 295,910 ( 1

Note 15 - Parent Company Financ

Note 15 - Parent Company Financial Information	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Condensed Financial Information of Parent Company Only Disclosure [Text Block]	15. Parent Company Financial Information The condensed financial statements for the Company (parent only) are presented below: Balance Sheets December 31, 2022 2021 Assets Cash and cash equivalents $ 806,384 $ 930,354 Investment in subsidiaries 62,064,533 72,662,265 Other assets 158,127 185,866 $ 63,029,044 $ 73,778,485 Liabilities and Stockholders' Equity Long-term debt $ 15,095,642 $ 16,978,905 Accrued interest payable 158,439 178,122 15,254,081 17,157,027 Stockholders' equity Common stock, par value $ .01 5,000,000 3,071,214 3,037,137 30,712 30,372 Additional paid-in capital 29,549,914 28,857,422 Retained earnings 35,300,166 29,128,600 Accumulated other comprehensive income (17,105,829 ) (1,394,936 ) 47,774,963 56,621,458 $ 63,029,044 $ 73,778,485 Statements of Income Years Ended December 31, 2022 2021 Income Cash dividends from subsidiaries $ 3,574,000 $ 2,595,000 Total income 3,574,000 2,595,000 Interest expense - long-term debt (664,621 ) (712,306 ) Noninterest expense (90,969 ) (537 ) Income before income taxes and equity in (distributed) undistributed income of subsidiaries 2,818,410 1,882,157 Income taxes (benefit) (158,556 ) (149,486 ) Income before equity in (distributed) undistributed income of subsidiaries 2,976,966 2,031,643 Dividends in excess of income of insurance subsidiary (247,472 ) (100,019 ) Equity in undistributed income of bank subsidiary 5,360,633 6,217,982 Net Income $ 8,090,127 $ 8,149,606 Statements of Cash Flows Years Ended December 31, 2022 2021 Cash flows from operating activities Net Income $ 8,090,127 $ 8,149,606 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed income of bank subsidiary (5,360,633 ) (6,217,982 ) Decrease in accrued interest payable (19,683 ) (1,935 ) Amortization of debt issuance costs 5,625 5,625 Change in income tax receivable 27,739 (149,486 ) Dividend received in excess of income of insurance subsidiary 247,472 100,019 Cash provided by operating activities 2,990,647 1,885,847 Cash flows from investing activities Cash used by investing activities - - Cash flows from financing activities Long-term debt (1,888,888 ) - Dividends paid, net of reinvestments (1,225,729 ) (1,156,418 ) Cash used in financing activities (3,114,617 ) (1,156,418 ) Net (decrease) increase in cash and cash equivalents (123,970 ) 729,429 Cash and cash equivalents at beginning of period 930,354 200,925 Cash and cash equivalents at end of period $ 806,384 $ 930,354

Note 16 - Litigation

Note 16 - Litigation	12 Months Ended
	Dec. 31, 2022
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	16. Litigation In the ordinary course of its business, the Company is periodically party to various legal actions normally associated with a financial institution. Management does not

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of consolidation The consolidated financial statements include the accounts of Farmers and Merchants Bancshares, Inc. and its wholly owned subsidiaries, Farmers and Merchants Bank (the “Bank”), and Series Protected Cell FCB- 4 one October 1, 2020,
Business Description, Policy [Policy Text Block]	Business The Bank provides banking services to individuals and businesses located in Baltimore County, Maryland, Carroll County, Maryland and surrounding areas of northern Maryland. The Insurance Subsidiary is a captive insurance entity that provides insurance coverage for the Bank. The Bank chose not November 7, 2022, may November 7, 2023.
Reclassification, Comparability Adjustment [Policy Text Block]	Reclassifications Certain reclassifications have been made to the 2021 no
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and cash equivalents For purposes of reporting cash flows, cash and cash equivalents include cash on hand, amounts due from banks, money market funds, and federal funds sold. Generally, federal funds are purchased and sold for one
Comprehensive Income, Policy [Policy Text Block]	Comprehensive (loss) income Comprehensive (loss) income includes net income and the unrealized gains or losses on investment securities available for sale, net of income taxes.
Investment, Policy [Policy Text Block]	Investment securities As debt securities are purchased, management determines if the securities should be classified as held to maturity or available for sale. Securities that management has the intent and ability to hold to maturity are recorded at amortized cost, which is cost adjusted for amortization of premiums and accretion of discounts. Discounts are accreted through maturity. Premiums are amortized through the earliest call date. Securities held to meet liquidity needs or that may The Company regularly evaluates its securities whose values have declined below their amortized cost to assess whether the decline in fair value is other-than-temporary. The Company considers various factors in determining whether a decline in fair value is other-than-temporary including the issuer's financial condition and/or future prospects, the effects of changes in interest rates or credit spreads, the expected recovery period and other quantitative and qualitative information. The valuation of securities for impairment is a process subject to estimation, judgment and uncertainty and is intended to determine whether declines in the fair value of investments should be recognized in current period earnings. The risks and uncertainties include changes in general economic conditions and future changes in assessments of the aforementioned factors. It is expected that such factors will change in the future, which may not not not
Equity Securities, Policy [Policy Text Block]	Equity security at fair value The Company owns a mutual fund that is measured at fair value with changes in fair value recognized in noninterest income.
Federal Home Loan Bank stocks [Policy Text Block]	Restricted stock, at cost Restricted stock consists of Federal Home Loan Bank of Atlanta (the “FHLB”) stock, Community Bankers Bank (“CBB”) stock, and Atlantic Community Bankers Bank (“ACBB”) stock. As a member of the FHLB, the Bank is required to purchase FHLB stock in an amount that is based on the Bank’s total assets. Additional stock is purchased and redeemed based on the outstanding FHLB advances to the Bank. CBB and ACBB require its correspondent banking institutions to hold stock as a condition of membership. The restricted investment in bank stocks is carried at cost. On a quarterly basis, management evaluates the bank stocks for impairment based on assessment of the ultimate recoverability of cost rather than by recognizing temporary declines in value. The determination of whether a decline affects the ultimate recoverability of cost is influenced by criteria such as operating performance, liquidity, funding and capital positions, stock repurchase history, dividend history, and impact of legislative and regulatory changes.
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block]	Loans and allowance for loan losses Loans are stated at the current amount of unpaid principal, adjusted for deferred origination costs, deferred origination fees, premiums and discounts on acquired loans, and the allowance for loan losses. Interest on loans is accrued based on the principal amounts outstanding. Origination fees and costs, along with premiums and accretable discounts, are amortized to income over the terms of loans. Past due status is based on the contractual terms of the loan. Management may 90 not The allowance for loan losses represents an amount which, in management’s judgment, will be adequate to absorb probable and estimable losses on existing loans and other extensions of credit that may three not The allowances established for probable and estimable losses on impaired loans are based on a regular analysis and evaluation of problem loans. Management maintains a watch list of problem loans. Loans are classified based on an internal credit risk grading process that evaluates, among other things: (i) the borrower’s ability to repay; (ii) the underlying collateral, if any; (iii) the economic environment; and (iv) for commercial borrowers, the industry in which the borrower operates. Specific valuation allowances are determined when the collateral value, if the loan is collateral dependent, or the discounted cash flows of the impaired loan is lower than the carrying value. Historical valuation allowances are calculated based on the historical loss experience of specific types of loans. The Company calculates historical loss ratios for pools of similar loans with similar characteristics based on the proportion of actual charge-offs experienced to the total population of loans in the pool over the prior twenty Adjustments to the historical valuation allowances are based on general economic conditions and other qualitative risk factors both internal and external to the Company. In general, such adjustments are determined by evaluating, among other things: (i) the impact of economic conditions on the portfolio; (ii) changes in asset quality, including delinquency trends; (iii) the impact of changing interest rates on portfolio risk; (iv) changes in legislative and regulatory policy; (v) the composition and concentrations of credit; and (vi) the effectiveness of the internal loan review function as well as changes to policies and experience of loan personnel. Management evaluates these qualitative factors on a quarterly basis. Each factor could result in an adjustment that is positive, negative, or no Loan losses are charged to the allowance when management believes that collection is unlikely. Collections of loans previously charged off are added to the allowance at the time of recovery. Loans acquired in connection with business combinations are recorded at fair value with no Loans acquired through business combinations that are designated as purchase credit impaired loans because they meet the specific criteria of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 310 30, The excess of cash flows expected at acquisition over the estimated fair value is referred to as the accretable discount and is recognized into interest income over the remaining life of the loan. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition is referred to as the nonaccretable difference. These loans are accounted for under ASC 310 30. Loans acquired through business combinations that do not 310 30 310 20, no no
Mortgage Banking Activity [Policy Text Block]	Mortgage loans held for sale and mortgage banking income Mortgage loans held for sale are carried at the lower of aggregate cost or fair value based on the current fair value of each outstanding loan. Sales of loans are recorded when the proceeds are received, with any gain or loss recorded in mortgage banking income. The Company sells its mortgage loans to third no third not third
Property, Plant and Equipment, Policy [Policy Text Block]	Premises and equipment Land is carried at cost. Premises and equipment are recorded at cost less accumulated depreciation and amortization. Depreciation on buildings and equipment is computed over the estimated useful lives of the assets using the straight-line method. Leasehold improvements are amortized using the straight-line method over the term of the lease or the estimated useful lives of the asset, whichever is shorter.
Real Estate Owned, Valuation Allowance, Policy [Policy Text Block]	Other real estate owned Real estate acquired through foreclosure or by deed in lieu of foreclosure is recorded at fair value less estimated costs to sell on the date acquired establishing a new cost basis. Losses incurred at the time of acquisition of the property are charged to the allowance for loan losses. Subsequent reductions in the estimated value of the property are included with any gains or losses on sale in noninterest expense.
Bank Owned Life Insurance, Policy [Policy Text Block]	Bank owned life insurance The Company has purchased life insurance policies on certain key executives. Bank owned life insurance is recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or other amounts due that are probable at settlement.
Goodwill and Intangible Assets, Policy [Policy Text Block]	Goodwill and other intangible assets Goodwill is calculated as the purchase premium, if any, after adjusting for the fair value of net assets acquired in purchase transactions. Goodwill is not 10
Revenue from Contract with Customer [Policy Text Block]	Revenue recognition ASC Topic 606 not 606 Service Charges on Deposit Accounts: Interchange Income Other Service Charges and Fees:
Lessee, Leases [Policy Text Block]	Operating leases The Company accounts for lease obligations in accordance with FASB Accounting Standards Update (“ASU”) 2016 02, 842 2016‑02, no
Advertising Cost [Policy Text Block]	Advertising costs Advertising costs are expensed in the period incurred and totaled $ 258,032 December 31, 2022 2021,
Income Tax, Policy [Policy Text Block]	Income taxes The provision for income taxes includes income taxes payable for the current year and deferred income taxes. Deferred tax assets and liabilities are determined based on the difference between the financial statement basis and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. A tax position is recognized as a benefit only if it is “more likely than not” 50% not not” no
Earnings Per Share, Policy [Policy Text Block]	Per share data Earnings per share is determined by dividing net income by the weighted average number of shares of common stock outstanding, giving retroactive effect to any stock dividends. Weighted average shares were 3,046,377 2022 2021, December 31, 2022 December 31, 2021.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent accounting pronouncements Management has the responsibility for the selection and use of appropriate accounting policies. The significant accounting policies used by the Company are described in the notes to the consolidated financial statements. The following accounting guidance has been approved by the FASB and would apply to the Company if the Company entered into an applicable activity. During June 2016, 2016 13, 326 2016 13 January 1, 2023 not December 31, 2022 The Company is utilizing a third 326, not may In March 2022, 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 In March 2020, 2020 04, 848 2020 04 March 12, 2020 December 31, 2022. In December 2022, 2022 06, 848 848”. 2022 06 848. 848 848 2021, June 30, 2023. 848 may 848 December 31, 2022, December 31, 2024, no 848. The ASU is effective for all entities upon issuance. The Company is assessing ASU 2022 06 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)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Marketable Securities [Table Text Block]	Amortized Unrealized Unrealized Fair December 31, 2022 cost gains losses value Available for sale State and municipal $ 570,122 $ - $ 17,841 $ 552,281 SBA pools 1,033,606 1,425 15,234 1,019,797 Corporate bonds 10,414,146 - 1,024,250 9,389,896 Mortgage-backed securities 137,896,519 - 22,544,044 115,352,475 $ 149,914,393 $ 1,425 $ 23,601,369 $ 126,314,449 Held to maturity State and municipal $ 20,508,997 $ 4,176 $ 1,633,378 $ 18,879,795 December 31, 2021 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 December 31, 2022 cost value cost value Within one year $ 580,522 $ 564,841 $ 330,000 $ 330,175 Over one to five years 3,079,483 2,937,072 474,937 469,235 Over five to ten years 7,324,263 6,440,264 3,308,340 3,162,389 Over ten years - - 16,395,720 14,917,996 10,984,268 9,942,177 20,508,997 18,879,795 Mortgage-backed securities and SBA pools, due in monthly installments 138,930,125 116,372,272 - - $ 149,914,393 $ 126,314,449 $ 20,508,997 $ 18,879,795
Schedule of Unrealized Loss on Investments [Table Text Block]	December 31, 2022 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 $ 13,668,676 $ 1,057,412 $ 1,537,715 $ 593,807 $ 15,206,391 $ 1,651,219 SBA pools - - 857,259 15,234 857,259 15,234 Corporate bonds 4,184,875 356,746 4,805,021 667,504 8,989,896 1,024,250 Mortgage-backed securities 25,284,430 2,293,151 90,068,045 20,250,893 115,352,475 22,544,044 Total $ 43,137,981 $ 3,707,309 $ 97,268,040 $ 21,527,438 $ 140,406,021 $ 25,234,747 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 - Related Party Transa_2

Note 4 - Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Related Party Transactions [Table Text Block]	2022 2021 Balance, beginning of year $ 13,822,556 $ 14,558,882 Additions 3,274,719 2,489,000 Amounts collected (4,869,554 ) (3,225,326 ) Balance, end of year $ 12,227,721 $ 13,822,556

Note 5 - Loans (Tables)

Note 5 - Loans (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	2022 2021 Real estate: Commercial $ 351,794,702 $ 319,185,116 Construction and land development 23,978,373 28,221,854 Residential 114,683,149 107,436,033 Commercial 31,066,497 31,182,206 Consumer 156,422 355,958 521,679,143 486,381,167 Less: Allowance for loan losses 4,150,198 3,650,268 Deferred origination fees net of costs 608,405 719,565 $ 516,920,540 $ 482,011,334
Financing Receivable, Nonaccrual [Table Text Block]	2022 2021 Real estate: Commercial $ 502,961 $ 4,810,965 Residential - 31,500 Commercial 152,449 152,449 Total $ 655,410 $ 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 December 31, 2022 Real estate: Commercial $ - $ - $ 502,961 $ 502,961 $ 351,291,741 $ 351,794,702 $ - Construction and land development - - - - 23,978,373 23,978,373 - Residential 311,409 - - 311,409 114,371,740 114,683,149 - Commercial - - 152,449 152,449 30,914,048 31,066,497 - Consumer - - - - 156,422 156,422 - Total $ 311,409 $ - $ 655,410 $ 966,819 $ 520,712,324 $ 521,679,143 $ - 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 December 31, 2022 Commercial real estate $ 7,019,415 $ 6,516,454 $ 502,961 $ 7,019,415 $ 129,461 $ 6,920,174 $ 223,476 Residential real estate 256,350 256,350 - 256,350 - 147,789 10,594 Commercial 152,449 - 152,449 152,449 152,449 152,449 - $ 7,428,214 $ 6,772,804 $ 655,410 $ 7,428,214 $ 281,910 $ 7,220,412 $ 234,070 December 31, 2021 Commercial real estate $ 6,820,932 $ 6,317,971 $ 502,961 $ 6,820,932 $ 129,461 $ 6,740,539 $ 125,079 Construction and land development - - - - - - - Residential real estate 39,228 39,228 - 39,228 - 41,981 1,672 Commercial 152,449 - 152,449 152,449 152,449 76,225 69,005 $ 7,012,609 $ 6,357,199 $ 655,410 $ 7,012,609 $ 281,910 $ 6,858,745 $ 195,756
Financing Receivable Credit Quality Indicators [Table Text Block]	Above Pass Special December 31, 2022 Excellent average Average Acceptable watch mention Substandard Doubtful Total Real estate: Commercial $ - $ - $ 65,908,980 $ 201,854,424 $ 70,826,837 $ 3,558,954 $ 9,645,507 $ - $ 351,794,702 Construction and land development - - 3,845,351 12,087,402 8,045,620 - - - 23,978,373 Residential 15,613 573,108 35,774,807 63,833,864 10,815,681 1,397,282 2,272,794 - 114,683,149 Commercial 178,916 - 4,347,337 16,039,145 9,773,961 574,689 152,449 - 31,066,497 Consumer 722 15,715 93,684 4,439 6,481 - - 35,381 156,422 $ 195,251 $ 588,823 $ 109,970,159 $ 293,819,274 $ 99,468,580 $ 5,530,925 $ 12,070,750 $ 35,381 $ 521,679,143 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]	Allowance for loan losses ending Outstanding loan balances Provision balance evaluated for impairment: evaluated for impairment: Beginning for loan Charge Ending Purchase Credit Purchase Credit December 31, 2022 balance losses offs Recoveries balance Individually Impaired Collectively Individually Impaired Collectively Real estate: Commercial $ 2,482,930 $ 343,424 $ (7,772 ) $ - $ 2,818,582 $ 129,461 $ - $ 2,689,121 $ 7,019,415 $ - $ 344,775,287 Construction and land development 214,547 (66,151 ) - 16,200 164,596 - - 164,596 - 369,622 23,608,751 Residential 603,558 171,391 - 18,970 793,919 - - 793,919 256,350 209,583 114,217,216 Commercial 255,413 84,358 (2,468 ) - 337,303 152,449 - 184,854 152,449 - 30,914,048 Consumer 4,370 336 - - 4,706 - - 4,706 - - 156,422 Unallocated 89,450 (58,358 ) - - 31,092 - - 31,092 - - - $ 3,650,268 $ 475,000 $ (10,240 ) $ 35,170 $ 4,150,198 $ 281,910 $ - $ 3,868,288 $ 7,428,214 $ 579,205 $ 513,671,724 Allowance for loan losses ending Outstanding loan balances Provision balance evaluated for impairment: evaluated for impairment: Beginning for loan Charge Ending Purchase Credit Purchase Credit December 31, 2021 balance losses offs Recoveries balance Individually Impaired Collectively Individually Impaired Collectively Real estate: Commercial $ 2,230,129 $ 241,301 $ - $ 11,500 $ 2,482,930 $ 129,461 $ - $ 2,353,469 $ 6,820,932 $ 56,825 $ 312,307,359 Construction and land development 201,692 (3,345 ) - 16,200 214,547 - - 214,547 - 383,666 27,838,188 Residential 644,639 (22,111 ) (18,970 ) - 603,558 - - 603,558 39,228 568,151 106,828,654 Commercial 111,390 129,023 - 15,000 255,413 152,449 - 102,964 152,449 - 31,029,757 Consumer 2,138 2,232 - - 4,370 - - 4,370 - - 355,958 Unallocated 106,550 (17,100 ) - - 89,450 - - 89,450 - - - $ 3,296,538 $ 330,000 $ (18,970 ) $ 42,700 $ 3,650,268 $ 281,910 $ - $ 3,368,358 $ 7,012,609 $ 1,008,642 $ 478,359,916
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table Text Block]	Balance at December 31, 2021 $ 1,629,242 Transfer to accretable - Accretion (698,269 ) Balance at December 31, 2022 $ 930,973

Note 6 - Premises and Equipme_2

Note 6 - Premises and Equipment (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Property, Plant and Equipment [Table Text Block]	Useful lives 2022 2021 Land and improvements - $ 2,602,998 $ 2,602,998 Buildings and improvements 15-39 years 6,171,003 6,302,622 Furniture and equipment 3-10 years 5,162,976 4,752,133 13,936,977 13,657,753 Accumulated depreciation and amortization 7,750,383 7,398,332 $ 6,186,594 $ 6,259,421 Depreciation and amortization expense $ 445,939 $ 434,434

Note 7 - Goodwill and Other I_2

Note 7 - Goodwill and Other Intangibles (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Intangible Assets and Goodwill [Table Text Block]	Goodwill CDI Total Balance at December 31, 2020 $ 6,978,208 $ 81,200 $ 7,059,408 Amortization - (8,328 ) (8,328 ) Balance at December 31, 2021 6,978,208 72,872 7,051,080 Amortization - (8,328 ) (8,328 ) Balance at December 31, 2022 $ 6,978,208 $ 64,544 $ 7,042,752

Note 8 - Commitments and Cont_2

Note 8 - Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Components of Lease Assets and Liabilities [Table Text Block]	Consolidated Balance Sheet classification December 31, 2022 December 31, 2021 Operating lease right of use asset Other assets $ 943,933 $ 1,093,382 Operating lease liabilities Other liabilities 1,166,476 1,311,570
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Year Amount 2023 $ 188,734 2024 194,252 2025 199,944 2026 205,816 2027 211,874 Thereafter 282,496 Total lease payments 1,283,116 Less imputed interest (116,640 ) Present value of operating lease liabilities $ 1,166,476
Schedule of Credit Commitments [Table Text Block]	2022 2021 Loan commitments Construction and land development $ 911,500 $ 6,810,353 Commercial 398,046 630,000 Commercial real estate 9,264,000 23,552,400 Residential 3,402,371 3,804,617 $ 13,975,917 $ 34,797,370 Unused lines of credit Home-equity lines $ 12,086,758 $ 12,707,519 Commercial lines 25,464,025 28,828,911 $ 37,550,783 $ 41,536,430 Letters of credit $ 1,403,956 $ 1,470,742

Note 10 - Interest-bearing De_2

Note 10 - Interest-bearing Deposits (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Deposit Liabilities, Type [Table Text Block]	2022 2021 NOW $ 135,716,736 $ 130,486,845 Money market 99,173,640 90,994,339 Savings 103,308,454 99,959,988 Certificates of deposit, greater than $250,000 37,976,238 34,697,273 Other time deposits 120,740,707 146,100,610 $ 496,915,775 $ 502,239,055
Time Deposit Maturities [Table Text Block]	Year Amount 2023 $ 110,590,325 2024 39,187,383 2025 4,711,082 2026 2,570,470 2027 1,657,685 $ 158,716,945

Note 11 - Borrowed Funds (Table

Note 11 - Borrowed Funds (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Debt [Table Text Block]	2022 2021 Amounts outstanding at year-end: Securities sold under repurchase agreements $ 5,175,303 $ 5,414,026 Federal Home Loan Bank advances: Maturity date Interest Rate Amount 3/30/2025 - fixed rate 1.00% 5,000,000 5,000,000 11/20/2023 - daily rate 4.57% 15,000,000 - Total $ 20,000,000 $ 5,000,000 Long-term debt (net of issuance costs): Maturity date Interest Rate Amount 9/30/2025 4.10% 15,095,642 16,978,905 Weighted average rate paid at December 31: Securities sold under repurchase agreements 0.30 % 0.31 % Federal Home Loan Bank advances 3.68 % 1.00 % Long-term debt 4.10 % 4.10 % Average rate paid during the year ended December 31: Securities sold under repurchase agreements 0.30 % 0.43 % Federal Home Loan Bank advances 1.55 % 1.01 % Long-term debt 4.10 % 4.10 % Investment securities underlying the repurchase agreements at December 31: Carrying value $ 11,389,983 $ 7,062,928 Loans pledged to the Federal Home Loan Bank at December 31: Carrying value - loans $ 458,863,387 $ 111,547,027 Loans pledged to the Federal Reserve Bank at December 31: Carrying value $ 62,720,368 $ 55,399,031

Note 12 - Income Taxes (Tables)

Note 12 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	2022 2021 Current Federal $ 1,852,205 $ 1,798,535 State 883,493 794,348 2,735,698 2,592,883 Deferred (250,672 ) (160,070 ) $ 2,485,026 $ 2,432,813
Schedule of Components of Deferred Tax Expense Benefit [Table Text Block]	2022 2021 Depreciation $ 15,108 $ 8,291 Insurance proceeds for storm damage 185,326 $ - Provision for loan losses (160,332 ) (141,488 ) Other real estate owned allowance for loss - (46,561 ) Nonaccrual interest (29,429 ) (83,961 ) Prepaid captive insurance premium (357,518 ) (14,375 ) Write-down of equity securities (11,583 ) (4,227 ) Lease liability, net of right of use asset (1,198 ) (4,693 ) Purchase accounting adjustments 153,455 175,037 Post-retirement benefits (44,501 ) (48,093 ) $ (250,672 ) $ (160,070 )
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	2022 2021 Deferred tax assets Allowance for loan losses $ 1,111,679 $ 951,348 Other real estate owned allowance for loss 434,628 434,628 Capital loss carryover - 5,300 Nonaccrual interest 118,010 88,581 Post-retirement benefits 695,983 651,482 Purchase accounting adjustments 81,687 235,142 Unrealized loss on securities available for sale 6,433,263 468,726 Lease liability, net of right of use asset 61,238 60,040 Other 21,079 - 8,957,567 2,895,247 Deferred tax liabilities Prepaid captive insurance premium - 357,518 Depreciation 364,008 348,900 Insurance proceeds from storm damage 185,326 - Other 15,575 11,379 564,909 717,797 Net deferred tax asset $ 8,392,658 $ 2,177,450
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	2022 2021 Statutory federal income tax rate 21.0 % 21.0 % Increase (decrease) resulting from: Federal tax-exempt income (3.6 ) (4.4 ) State income taxes, net of federal income tax benefit 5.8 5.8 Other 0.3 0.6 23.5 % 23.0 %

Note 13 - Capital Standards (Ta

Note 13 - Capital Standards (Tables)	12 Months Ended
	Dec. 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 December 31, 2022 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 75,826 12.96 % $ 61,410 10.50 % $ 58,486 10.00 % Tier 1 capital (to risk-weighted assets) 71,676 12.26 % 49,713 8.50 % 46,789 8.00 % Common equity tier 1 (to risk- weighted assets) 71,676 12.26 % 40,940 7.00 % 38,016 6.50 % Tier 1 leverage (to average assets) 71,676 9.83 % 29,167 4.00 % 36,459 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 14 - Fair Value (Tables)

Note 14 - Fair Value (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	Carrying Value: Level 1 Level 2 Level 3 Total December 31, 2022 Recurring: Available for sale securities State and municipal $ - $ 552,281 $ - $ 552,281 SBA pools - 1,019,797 - 1,019,797 Corporate bonds - 8,989,896 400,000 9,389,896 Mortgage-backed securities - 115,352,475 - 115,352,475 $ - $ 125,914,449 $ 400,000 $ 126,314,449 Equity security at fair value $ 489,145 $ - $ - $ 489,145 Nonrecurring: Other real estate owned, net $ - $ - $ 1,242,365 $ 1,242,365 Impaired loans - - 373,500 373,500 December 31, 2021 Recurring: Available for sale securities State and municipal $ - $ 763,498 $ - $ 763,498 SBA pools - 1,397,762 - 1,397,762 Corporate bonds - 8,584,207 650,000 9,234,207 Mortgage-backed securities - 137,842,449 - 137,842,449 $ - $ 148,587,916 $ 650,000 $ 149,237,916 Equity security at fair value $ 543,605 $ - $ - $ 543,605 Nonrecurring: Other real estate owned, net $ - $ - $ 1,242,365 $ 1,242,365 Impaired loans - - 373,500 373,500
Fair Value Measurements, Nonrecurring [Table Text Block]	December 31, 2022 and 2021 Description of Asset Fair Value Valuation technique Unobservable Inputs Range (Average) Loans with Impairment $ 373,500 Third party appraisals and in-house real estate valuations of fair value Marketability/selling costs and current market conditions 0% to 20% (10%) Other real estate loans $ 1,242,365 Third party appraisals and in-house real estate valuations of fair value Marketability/selling costs and current market conditions 0% to 10% (5%)
Fair Value, Assets Measured on Non-recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Reconciliation of Level 3 Inputs Corporate Bonds December 31, 2021 fair value $ 650,000 Additions - Principal payments received - Transfer to level 2 (250,000 ) December 31, 2022 fair value $ 400,000
Fair Value, by Balance Sheet Grouping [Table Text Block]	December 31, 2022 December 31, 2021 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets Level 1 inputs Cash and cash equivalents $ 7,263,537 $ 7,263,537 $ 26,462,106 $ 26,462,106 Level 2 inputs Certificates of deposit in other banks 100,000 100,000 350,000 350,000 Accrued interest receivable 1,815,784 1,815,784 1,609,063 1,609,063 Securities held to maturity 17,537,377 15,908,175 18,778,935 19,732,561 Mortgage loans held for sale 428,355 434,271 126,500 128,829 Restricted stock, at cost 1,332,500 1,332,500 675,400 675,400 Bank owned life insurance 14,585,342 14,585,342 11,556,163 11,556,163 Level 3 inputs Securities held to maturity (1) 2,971,620 2,971,620 3,073,040 3,073,040 Loans, net 516,920,540 503,144,771 482,011,334 487,012,970 Financial liabilities Level 1 inputs Noninterest-bearing deposits $ 126,695,349 $ 126,695,349 $ 124,175,615 $ 124,175,615 Securities sold under repurchase agreements 5,175,303 5,175,303 5,414,026 5,414,026 Level 2 inputs Interest-bearing deposits 496,915,775 492,769,775 502,239,055 502,396,172 Federal Home Loan Bank advances 20,000,000 19,622,000 5,000,000 4,967,000 Long-term debt 15,095,642 14,241,237 16,978,905 17,298,111 Accrued interest payable 349,910 349,910 295,910 295,910

Note 15 - Parent Company Fina_2

Note 15 - Parent Company Financial Information (Tables)	12 Months Ended
	Dec. 31, 2022
Notes Tables
Condensed Balance Sheet [Table Text Block]	Balance Sheets December 31, 2022 2021 Assets Cash and cash equivalents $ 806,384 $ 930,354 Investment in subsidiaries 62,064,533 72,662,265 Other assets 158,127 185,866 $ 63,029,044 $ 73,778,485 Liabilities and Stockholders' Equity Long-term debt $ 15,095,642 $ 16,978,905 Accrued interest payable 158,439 178,122 15,254,081 17,157,027 Stockholders' equity Common stock, par value $ .01 5,000,000 3,071,214 3,037,137 30,712 30,372 Additional paid-in capital 29,549,914 28,857,422 Retained earnings 35,300,166 29,128,600 Accumulated other comprehensive income (17,105,829 ) (1,394,936 ) 47,774,963 56,621,458 $ 63,029,044 $ 73,778,485
Condensed Income Statement [Table Text Block]	Statements of Income Years Ended December 31, 2022 2021 Income Cash dividends from subsidiaries $ 3,574,000 $ 2,595,000 Total income 3,574,000 2,595,000 Interest expense - long-term debt (664,621 ) (712,306 ) Noninterest expense (90,969 ) (537 ) Income before income taxes and equity in (distributed) undistributed income of subsidiaries 2,818,410 1,882,157 Income taxes (benefit) (158,556 ) (149,486 ) Income before equity in (distributed) undistributed income of subsidiaries 2,976,966 2,031,643 Dividends in excess of income of insurance subsidiary (247,472 ) (100,019 ) Equity in undistributed income of bank subsidiary 5,360,633 6,217,982 Net Income $ 8,090,127 $ 8,149,606
Condensed Cash Flow Statement [Table Text Block]	Statements of Cash Flows Years Ended December 31, 2022 2021 Cash flows from operating activities Net Income $ 8,090,127 $ 8,149,606 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed income of bank subsidiary (5,360,633 ) (6,217,982 ) Decrease in accrued interest payable (19,683 ) (1,935 ) Amortization of debt issuance costs 5,625 5,625 Change in income tax receivable 27,739 (149,486 ) Dividend received in excess of income of insurance subsidiary 247,472 100,019 Cash provided by operating activities 2,990,647 1,885,847 Cash flows from investing activities Cash used by investing activities - - Cash flows from financing activities Long-term debt (1,888,888 ) - Dividends paid, net of reinvestments (1,225,729 ) (1,156,418 ) Cash used in financing activities (3,114,617 ) (1,156,418 ) Net (decrease) increase in cash and cash equivalents (123,970 ) 729,429 Cash and cash equivalents at beginning of period 930,354 200,925 Cash and cash equivalents at end of period $ 806,384 $ 930,354

Note 1 - Summary of Significa_2

Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Advertising Expense	$ 258,032	$ 233,358
Weighted Average Number of Shares Outstanding, Basic, Total (in shares)	3,046,377	3,018,112
Weighted Average Number of Shares Outstanding, Diluted, Adjustment, Total (in shares)	0	0
First Community Bankers Insurance Co., LLC [Member]
Percentage of Ownership	100%

Note 2 - Cash and Cash Equiva_2

Note 2 - Cash and Cash Equivalents (Details Textual) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Cash, Uninsured Amount	$ 11,945,635	$ 7,549,531

Note 3 - Investment Securitie_2

Note 3 - Investment Securities (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale	$ 19,994,811	$ 31,327,354
Debt Securities, Available-for-Sale, Realized Gain (Loss), Total	0	9,190
Securities Called at a Premium [Member]
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale	0	1,263,845
Asset Pledged as Collateral [Member] | Government Deposits and Securities Sold Under Repurchase Agreement [Member]
Debt Securities, Total	$ 24,258,980	$ 14,307,989

Note 3 - Investment Securitie_3

Note 3 - Investment Securities - Investments in Debt Securities (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Amortized cost, available for sale	$ 149,914,393		$ 151,162,429
Unrealized gains, available for sale	1,425	$ 412,772
Unrealized losses, available for sale	23,601,369	2,337,285
Fair value, available for sale	126,314,449	149,237,916
Amortized cost, held to maturity	20,508,997	21,851,975
Fair value, held to maturity	18,879,795
US States and Political Subdivisions Debt Securities [Member]
Amortized cost, available for sale	570,122		753,061
Unrealized gains, available for sale	0	10,437
Unrealized losses, available for sale	17,841	0
Fair value, available for sale	552,281	763,498
Amortized cost, held to maturity	20,508,997		21,851,975
Unrealized gains, held to maturity	4,176	1,020,877
Unrealized losses, held to maturity	1,633,378	67,251
Fair value, held to maturity	18,879,795	22,805,601
SBA Pools [Member]
Amortized cost, available for sale	1,033,606		1,418,770
Unrealized gains, available for sale	1,425	1,656
Unrealized losses, available for sale	15,234	22,664
Fair value, available for sale	1,019,797	1,397,762
Corporate Debt Securities [Member]
Amortized cost, available for sale	10,414,146		9,225,153
Unrealized gains, available for sale	0	64,595
Unrealized losses, available for sale	1,024,250	55,541
Fair value, available for sale	9,389,896	9,234,207
Collateralized Mortgage-Backed Securities [Member]
Amortized cost, available for sale	137,896,519		$ 139,765,445
Unrealized gains, available for sale	0	336,084
Unrealized losses, available for sale	22,544,044	2,259,080
Fair value, available for sale	$ 115,352,475	$ 137,842,449

Note 3 - Investment Securitie_4

Note 3 - Investment Securities - Contractual Maturities (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Available for Sale Amortized cost, Within one year	$ 580,522
Available for Sale Fair value, Within one year	564,841
Held to Maturity Amortized cost, Within one year	330,000
Held to Maturity Fair value, Within one year	330,175
Available for Sale Amortized cost, Over one to five years	3,079,483
Available for Sale Fair value, Over one to five years	2,937,072
Held to Maturity Amortized cost, Over one to five years	474,937
Held to Maturity Fair value, Over one to five years	469,235
Available for Sale Amortized cost, Fair value, Over one to five years	7,324,263
Available for Sale Fair value, Over five to ten years	6,440,264
Held to Maturity Amortized cost, Over five to ten years	3,308,340
Held to Maturity Fair value, Over five to ten years	3,162,389
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	16,395,720
Held to Maturity Fair value, Over ten years	14,917,996
Available for Sale Amortized cost, total maturity	10,984,268
Available for Sale Fair value, total maturity	9,942,177
Held to Maturity Amortized cost, total maturity	20,508,997
Held to Maturity Fair value, total maturity	18,879,795
Available for Sale Amortized cost, due in monthly installments	138,930,125
Available for Sale Fair value, due in monthly installments	116,372,272
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	149,914,393		$ 151,162,429
Available for Sale Fair value Total	126,314,449	$ 149,237,916
Held to Maturity Amortized cost Total	20,508,997	$ 21,851,975
Held to Maturity Fair value Total	$ 18,879,795

Note 3 - Investment Securitie_5

Note 3 - Investment Securities - Gross Unrealized Losses on Continuous Basis for Investment Securities (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Less than 12 months Fair value	$ 43,137,981	$ 124,609,499
Less than 12 months Unrealized losses	3,707,309	2,126,119
12 months or more Fair value	97,268,040	6,630,634
12 months or more Unrealized losses	21,527,438	278,417
Total Fair value	140,406,021	131,240,133
Total Unrealized losses	25,234,747	2,404,536
US States and Political Subdivisions Debt Securities [Member]
Less than 12 months Fair value	13,668,676	1,324,648
Less than 12 months Unrealized losses	1,057,412	35,720
12 months or more Fair value	1,537,715	715,650
12 months or more Unrealized losses	593,807	31,531
Total Fair value	15,206,391	2,040,298
Total Unrealized losses	1,651,219	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	857,259	1,133,398
12 months or more Unrealized losses	15,234	22,664
Total Fair value	857,259	1,133,398
Total Unrealized losses	15,234	22,664
Corporate Debt Securities [Member]
Less than 12 months Fair value	4,184,875	5,443,886
Less than 12 months Unrealized losses	356,746	55,541
12 months or more Fair value	4,805,021	0
12 months or more Unrealized losses	667,504	0
Total Fair value	8,989,896	5,443,886
Total Unrealized losses	1,024,250	55,541
Collateralized Mortgage-Backed Securities [Member]
Less than 12 months Fair value	25,284,430	117,840,965
Less than 12 months Unrealized losses	2,293,151	2,034,858
12 months or more Fair value	90,068,045	4,781,586
12 months or more Unrealized losses	20,250,893	224,222
Total Fair value	115,352,475	122,622,551
Total Unrealized losses	$ 22,544,044	$ 2,259,080

Note 4 - Related Party Transa_3

Note 4 - Related Party Transactions (Details Textual) - USD ($)		12 Months Ended
	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Loans and Leases Receivable, Related Parties, Ending Balance		$ 12,227,721	$ 13,822,556	$ 14,558,882
Related Party Deposit Liabilities		10,138,362	27,187,933
Payments to Fund Long-Term Loans to Related Parties		54,624	40,754
The Company Related to Director [Member]
Loans and Leases Receivable, Related Parties, Ending Balance	$ 1,096,000
The Company Related to Director [Member] | Sale Of Real Property To Related Party [Member]
Related Party Transaction, Amounts of Transaction	$ 1,359,613
Unused lines of Credit [Member]
Loans and Leases Receivable, Related Parties, Ending Balance		208,100	143,000
Letter of Credit [Member]
Loans and Leases Receivable, Related Parties, Ending Balance		$ 15,847	$ 0

Note 4 - Related Party Transa_4

Note 4 - Related Party Transactions - Related Party Loan Activity (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Balance, beginning of year	$ 13,822,556	$ 14,558,882
Additions	3,274,719	2,489,000
Amounts collected	(4,869,554)	(3,225,326)
Balance, end of year	$ 12,227,721	$ 13,822,556

Note 5 - Loans (Details Textual

Note 5 - Loans (Details Textual)	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Loans and Leases Receivable, Gross	$ 521,679,143	$ 486,381,167
Financing Receivable, Nonaccrual	655,410	4,994,914
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans	45,856	219,734
Impaired Financing Receivable, Related Allowance	$ 281,910	$ 281,910
Financing Receivable, Modifications, Number of Contracts	0	0
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts		0
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Accretion	$ 698,269	$ 1,081,403
Certain Loans Acquired in Transfer, Nonaccretable Difference	233,411
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Reclassifications from Nonaccretable Difference	0	233,176
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield	930,973	1,629,242
Certain Loans Acquired in Transfer, Accretable Yield	878,756
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Amortization	526,377	718,875
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance	86,649,656
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net	86,364,028
Participating Mortgage Loans, Participation Liabilities, Amount	13,500,000	22,100,000
Federal Home Loan Bank of Atlanta [Member] | Asset Pledged as Collateral [Member] | Federal Home Loan Bank Advances [Member]
Loans and Leases Receivable, Gross	458,900,000
Federal Home Loan Bank of Richmond [Member] | Asset Pledged as Collateral [Member] | Federal Home Loan Bank Advances [Member]
Loans and Leases Receivable, Gross	62,700,000
Financial Asset Acquired with Credit Deterioration [Member]
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield	0	140,608
Nonaccrual Loans [Member]
Impaired Financing Receivable, Related Allowance	281,910	281,910
Allowance for Loan and Lease Losses Write-offs, Net, Total		27,146
Commercial Portfolio Segment [Member]
Loans and Leases Receivable, Gross	31,066,497	$ 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
Commercial Real Estate Portfolio Segment [Member]
Loans and Leases Receivable, Gross	$ 351,794,702	$ 319,185,116
Financing Receivable, Number of Loans, Nonaccrual Status	1	2
Financing Receivable, Nonaccrual	$ 502,961	$ 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	$ 6,516,454	$ 2,009,967
Financing Receivable, Troubled Debt Restructuring, Subsequent Default	$ 4,542,896
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts	1
Residential Portfolio Segment [Member]
Loans and Leases Receivable, Gross	$ 114,683,149	$ 107,436,033
Financing Receivable, Number of Loans, Nonaccrual Status	1	1
Financing Receivable, Nonaccrual	$ 0	$ 31,500
Impaired Financing Receivable, Related Allowance	$ 0	$ 0
Number of Loans Classified as TDR	2	1
Financing Receivable, Troubled Debt Restructuring	$ 256,350	$ 39,228
Financing Receivable, Troubled Debt Restructuring, Subsequent Default	$ 222,767
Financing Receivable, Troubled Debt Restructuring, Subsequent Default, Number of Contracts	1
SBA CARES Act Paycheck Protection Program [Member] | Commercial Portfolio Segment [Member]
Loans and Leases Receivable, Gross	$ 700,000	9,700,000
Financing Receivable, Loans Originated Amount	$ 0	$ 22,000,000

Note 5 - Loans - Major Categori

Note 5 - Loans - Major Categories of Loans (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Loans	$ 521,679,143	$ 486,381,167
Allowance for loan losses	4,150,198	3,650,268
Deferred origination fees net of costs	608,405	719,565
Loans and Leases Receivable, Net Amount	516,920,540	482,011,334
Commercial Real Estate Portfolio Segment [Member]
Loans	351,794,702	319,185,116
Construction and Land Development [Member]
Loans	23,978,373	28,221,854
Residential Portfolio Segment [Member]
Loans	114,683,149	107,436,033
Commercial Portfolio Segment [Member]
Loans	31,066,497	31,182,206
Consumer Portfolio Segment [Member]
Loans	$ 156,422	$ 355,958

Note 5 - Loans - Non-accrual Lo

Note 5 - Loans - Non-accrual Loans (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Nonaccrual loans	$ 655,410	$ 4,994,914
Commercial Real Estate Portfolio Segment [Member]
Nonaccrual loans	502,961	4,810,965
Residential Portfolio Segment [Member]
Nonaccrual loans	0	31,500
Commercial Portfolio Segment [Member]
Nonaccrual loans	$ 152,449	$ 152,449

Note 5 - Loans - Past Due Loans

Note 5 - Loans - Past Due Loans (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Loans	$ 521,679,143	$ 486,381,167
Loans, 90 days past due and still accruing	0	480,902
Financial Asset, 30 to 59 Days Past Due [Member]
Loans	311,409	0
Financial Asset, 60 to 89 Days Past Due [Member]
Loans	0	0
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans	655,410	1,167,812
Financial Asset, Past Due [Member]
Loans	966,819	1,167,812
Financial Asset, Not Past Due [Member]
Loans	520,712,324	485,213,355
Commercial Real Estate Portfolio Segment [Member]
Loans	351,794,702	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	351,291,741	318,682,155
Construction and Land Development [Member]
Loans	23,978,373	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	23,978,373	28,221,854
Residential Portfolio Segment [Member]
Loans	114,683,149	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	311,409	0
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Loans	0	0
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans	0	249,161
Residential Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Loans	311,409	249,161
Residential Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Loans	114,371,740	107,186,872
Commercial Portfolio Segment [Member]
Loans	31,066,497	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	30,914,048	30,766,516
Consumer Portfolio Segment [Member]
Loans	156,422	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	$ 156,422	$ 355,958

Note 5 - Loans - Impaired Loans

Note 5 - Loans - Impaired Loans (Details) - USD ($)	12 Months Ended		24 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2021
Unpaid Contractual Principal Balance	$ 7,428,214	$ 7,012,609	$ 7,012,609
Recorded Investment With No Allowance	6,772,804	6,357,199	6,357,199
Recorded Investment With Allowance	655,410	655,410	655,410
Total Recorded Investment	7,428,214	7,012,609	7,012,609
Related Allowance	281,910	281,910	281,910
Average Recorded Investment	7,220,412		6,858,745
Interest Recognized	234,070		195,756
Commercial Real Estate Portfolio Segment [Member]
Unpaid Contractual Principal Balance	7,019,415	6,820,932	6,820,932
Recorded Investment With No Allowance	6,516,454	6,317,971	6,317,971
Recorded Investment With Allowance	502,961	502,961	502,961
Total Recorded Investment	7,019,415	6,820,932	6,820,932
Related Allowance	129,461	129,461	129,461
Average Recorded Investment	6,920,174		6,740,539
Interest Recognized	223,476		125,079
Residential Portfolio Segment [Member]
Unpaid Contractual Principal Balance	256,350	39,228	39,228
Recorded Investment With No Allowance	256,350	39,228	39,228
Recorded Investment With Allowance	0	0	0
Total Recorded Investment	256,350	39,228	39,228
Related Allowance	0	0	0
Average Recorded Investment	147,789		41,981
Interest Recognized	10,594		1,672
Commercial Portfolio Segment [Member]
Unpaid Contractual Principal Balance	152,449	152,449	152,449
Recorded Investment With No Allowance	0	0	0
Recorded Investment With Allowance	152,449	152,449	152,449
Total Recorded Investment	152,449	152,449	152,449
Related Allowance	152,449	152,449	152,449
Average Recorded Investment	152,449	76,225
Interest Recognized	$ 0	69,005
Construction and Land Development [Member]
Unpaid Contractual Principal Balance		0	0
Recorded Investment With No Allowance		0	0
Recorded Investment With Allowance		0	0
Total Recorded Investment		0	0
Related Allowance		0	$ 0
Average Recorded Investment		0
Interest Recognized		$ 0

Note 5 - Loans - Loans by Credi

Note 5 - Loans - Loans by Credit Grade (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Loans	$ 521,679,143	$ 486,381,167
Excellent [Member]
Loans	195,251	9,821,535
Above Average [Member]
Loans	588,823	2,101,931
Average [Member]
Loans	109,970,159	129,577,624
Acceptable [Member]
Loans	293,819,274	219,509,802
Pass [Member]
Loans	99,468,580	104,951,530
Special Mention [Member]
Loans	5,530,925	5,288,153
Substandard [Member]
Loans	12,070,750	15,109,965
Doubtful [Member]
Loans	35,381	20,627
Commercial Real Estate Portfolio Segment [Member]
Loans	351,794,702	319,185,116
Commercial Real Estate Portfolio Segment [Member] | Excellent [Member]
Loans	0	0
Commercial Real Estate Portfolio Segment [Member] | Above Average [Member]
Loans	0	1,225,732
Commercial Real Estate Portfolio Segment [Member] | Average [Member]
Loans	65,908,980	73,924,748
Commercial Real Estate Portfolio Segment [Member] | Acceptable [Member]
Loans	201,854,424	146,174,439
Commercial Real Estate Portfolio Segment [Member] | Pass [Member]
Loans	70,826,837	82,018,890
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member]
Loans	3,558,954	3,345,788
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member]
Loans	9,645,507	12,495,519
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member]
Loans	0	0
Construction and Land Development [Member]
Loans	23,978,373	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	3,845,351	3,853,775
Construction and Land Development [Member] | Acceptable [Member]
Loans	12,087,402	12,452,257
Construction and Land Development [Member] | Pass [Member]
Loans	8,045,620	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	114,683,149	107,436,033
Residential Portfolio Segment [Member] | Excellent [Member]
Loans	15,613	41,152
Residential Portfolio Segment [Member] | Above Average [Member]
Loans	573,108	708,162
Residential Portfolio Segment [Member] | Average [Member]
Loans	35,774,807	46,358,477
Residential Portfolio Segment [Member] | Acceptable [Member]
Loans	63,833,864	48,295,430
Residential Portfolio Segment [Member] | Pass [Member]
Loans	10,815,681	9,570,815
Residential Portfolio Segment [Member] | Special Mention [Member]
Loans	1,397,282	0
Residential Portfolio Segment [Member] | Substandard [Member]
Loans	2,272,794	2,461,997
Residential Portfolio Segment [Member] | Doubtful [Member]
Loans	0	0
Commercial Portfolio Segment [Member]
Loans	31,066,497	31,182,206
Commercial Portfolio Segment [Member] | Excellent [Member]
Loans	178,916	9,774,570
Commercial Portfolio Segment [Member] | Above Average [Member]
Loans	0	0
Commercial Portfolio Segment [Member] | Average [Member]
Loans	4,347,337	5,292,721
Commercial Portfolio Segment [Member] | Acceptable [Member]
Loans	16,039,145	12,585,396
Commercial Portfolio Segment [Member] | Pass [Member]
Loans	9,773,961	3,377,070
Commercial Portfolio Segment [Member] | Special Mention [Member]
Loans	574,689	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	156,422	355,958
Consumer Portfolio Segment [Member] | Excellent [Member]
Loans	722	5,813
Consumer Portfolio Segment [Member] | Above Average [Member]
Loans	15,715	168,037
Consumer Portfolio Segment [Member] | Average [Member]
Loans	93,684	147,903
Consumer Portfolio Segment [Member] | Acceptable [Member]
Loans	4,439	2,280
Consumer Portfolio Segment [Member] | Pass [Member]
Loans	6,481	11,298
Consumer Portfolio Segment [Member] | Special Mention [Member]
Loans	0	0
Consumer Portfolio Segment [Member] | Substandard [Member]
Loans	0	0
Consumer Portfolio Segment [Member] | Doubtful [Member]
Loans	$ 35,381	$ 20,627

Note 5 - Loans - Allowance for

Note 5 - Loans - Allowance for Loan Losses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Allowance for loan losses	$ 3,650,268	$ 3,296,538
Provision for loan losses	475,000	330,000
Charge offs	(10,240)	(18,970)
Recoveries	35,170	42,700
Allowance for loan losses	4,150,198	3,650,268
Allowance for loan losses ending balance evaluated for impairment individually	281,910	281,910
Allowance for loan losses ending balance evaluated for impairment collectively	3,868,288	3,368,358
Outstanding loan balances evaluated for impairment individually	7,428,214	7,012,609
Outstanding loan balances evaluated for impairment purchase credit impaired	516,920,540	482,011,334
Outstanding loan balances evaluated for impairment collectively	513,671,724	478,359,916
Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0
Outstanding loan balances evaluated for impairment purchase credit impaired	579,205	1,008,642
Commercial Real Estate Portfolio Segment [Member]
Allowance for loan losses	2,482,930	2,230,129
Provision for loan losses	343,424	241,301
Charge offs	(7,772)	0
Recoveries	0	11,500
Allowance for loan losses	2,818,582	2,482,930
Allowance for loan losses ending balance evaluated for impairment individually	129,461	129,461
Allowance for loan losses ending balance evaluated for impairment collectively	2,689,121	2,353,469
Outstanding loan balances evaluated for impairment individually	7,019,415	6,820,932
Outstanding loan balances evaluated for impairment collectively	344,775,287	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
Outstanding loan balances evaluated for impairment purchase credit impaired	0	56,825
Construction and Land Development [Member]
Allowance for loan losses	214,547	201,692
Provision for loan losses	(66,151)	(3,345)
Charge offs	0	0
Recoveries	16,200	16,200
Allowance for loan losses	164,596	214,547
Allowance for loan losses ending balance evaluated for impairment individually	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	164,596	214,547
Outstanding loan balances evaluated for impairment individually	0	0
Outstanding loan balances evaluated for impairment collectively	23,608,751	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
Outstanding loan balances evaluated for impairment purchase credit impaired	369,622	383,666
Residential Portfolio Segment [Member]
Allowance for loan losses	603,558	644,639
Provision for loan losses	171,391	(22,111)
Charge offs	0	(18,970)
Recoveries	18,970	0
Allowance for loan losses	793,919	603,558
Allowance for loan losses ending balance evaluated for impairment individually	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	793,919	603,558
Outstanding loan balances evaluated for impairment individually	256,350	39,228
Outstanding loan balances evaluated for impairment collectively	114,217,216	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
Outstanding loan balances evaluated for impairment purchase credit impaired	209,583	568,151
Commercial Portfolio Segment [Member]
Allowance for loan losses	255,413	111,390
Provision for loan losses	84,358	129,023
Charge offs	(2,468)	0
Recoveries	0	15,000
Allowance for loan losses	337,303	255,413
Allowance for loan losses ending balance evaluated for impairment individually	152,449	152,449
Allowance for loan losses ending balance evaluated for impairment collectively	184,854	102,964
Outstanding loan balances evaluated for impairment individually	152,449	152,449
Outstanding loan balances evaluated for impairment collectively	30,914,048	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
Outstanding loan balances evaluated for impairment purchase credit impaired	0	0
Consumer Portfolio Segment [Member]
Allowance for loan losses	4,370	2,138
Provision for loan losses	336	2,232
Charge offs	0	0
Recoveries	0	0
Allowance for loan losses	4,706	4,370
Allowance for loan losses ending balance evaluated for impairment individually	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	4,706	4,370
Outstanding loan balances evaluated for impairment individually	0	0
Outstanding loan balances evaluated for impairment collectively	156,422	355,958
Consumer Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0
Outstanding loan balances evaluated for impairment purchase credit impaired	0	0
Unallocated Financing Receivables [Member]
Allowance for loan losses	89,450	106,550
Provision for loan losses	(58,358)	(17,100)
Charge offs	0	0
Recoveries	0	0
Allowance for loan losses	31,092	89,450
Allowance for loan losses ending balance evaluated for impairment individually	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	31,092	89,450
Outstanding loan balances evaluated for impairment individually	0	0
Outstanding loan balances evaluated for impairment collectively	0	0
Unallocated Financing Receivables [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0
Outstanding loan balances evaluated for impairment purchase credit impaired	$ 0	$ 0

Note 5 - Loans - Activity for A

Note 5 - Loans - Activity for Accretable Yield of Purchased Loans (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Balance at December 31, 2021	$ 1,629,242
Transfer to accretable	0	$ 233,176
Accretion	(698,269)	(1,081,403)
Balance at December 31, 2022	$ 930,973	$ 1,629,242

Note 6 - Premises and Equipme_3

Note 6 - Premises and Equipment (Details Textual) - USD ($)		1 Months Ended	12 Months Ended
	Mar. 31, 2021	Jul. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Proceeds from Insurance Settlement, Investing Activities			$ 711,214	$ 0
Property, Plant and Equipment, Net, Total			6,186,594	6,259,421
Gain on Business Interruption Insurance Recovery			673,483	0
Proceeds from Sale of Property, Plant, and Equipment, Total			0	1,387,613
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property			0	44,510
Amortization of Intangible Assets			36,550	36,509
Other Assets [Member]
Intangible Assets, Net (Excluding Goodwill), Total			$ 90,927	$ 118,614
Real Property Acquired from Carroll in Merger [Member]
Property, Plant and Equipment, Net, Total	$ 1,322,000
Proceeds from Sale of Property, Plant, and Equipment, Total	1,359,613
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property	$ 37,613
Storm [Member]
Proceeds from Insurance Settlement, Including Repairs		$ 779,064
Proceeds from Insurance Used to Repair Roof		67,850
Proceeds from Insurance Settlement, Investing Activities		711,214
Property, Plant and Equipment, Net, Total		37,732
Gain on Business Interruption Insurance Recovery		$ 673,483

Note 6 - Premises and Equipme_4

Note 6 - Premises and Equipment - Premises and Equipment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment, Gross	$ 13,936,977	$ 13,657,753
Accumulated depreciation and amortization	7,750,383	7,398,332
Property, Plant and Equipment, Net	6,186,594	6,259,421
Depreciation and amortization expense	445,939	434,434
Building and Building Improvements [Member]
Property, Plant and Equipment, Gross	$ 6,171,003	6,302,622
Building and Building Improvements [Member] | Minimum [Member]
Property, Plant and Equipment, Estimated Useful Lives (Year)	15 years
Building and Building Improvements [Member] | Maximum [Member]
Property, Plant and Equipment, Estimated Useful Lives (Year)	39 years
Land and Land Improvements [Member]
Property, Plant and Equipment, Gross	$ 2,602,998	2,602,998
Furniture and Fixtures [Member]
Property, Plant and Equipment, Gross	$ 5,162,976	$ 4,752,133
Furniture and Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment, Estimated Useful Lives (Year)	3 years
Furniture and Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment, Estimated Useful Lives (Year)	10 years

Note 7 - Goodwill and Other I_3

Note 7 - Goodwill and Other Intangibles (Details Textual) - Core Deposits [Member]	24 Months Ended
	Dec. 31, 2022 USD ($)
Finite-Lived Intangible Asset, Useful Life (Year)	10 years
Finite-Lived Intangible Asset, Expected Amortization, Year One	$ 8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Ten	6,246
Finite-Lived Intangible Asset, Expected Amortization, Year Two	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Three	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Four	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Five	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Six	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Seven	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Eight	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Nine	$ 8,328

Note 7 - Goodwill and Other I_4

Note 7 - Goodwill and Other Intangibles - Changes in Goodwill and Other Intangibles (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Balance	$ 6,978,208	$ 6,978,208
Balance	7,051,080	7,059,408
Amortization, other intangible	(36,550)	(36,509)
Amortization	(8,328)	(8,328)
Balance	6,978,208	6,978,208
Balance	7,042,752	7,051,080
Core Deposits [Member]
Balance, other intangible	72,872	81,200
Amortization, other intangible	(8,328)	(8,328)
Balance, other intangible	$ 64,544	$ 72,872

Note 8 - Commitments and Cont_3

Note 8 - Commitments and Contingencies (Details Textual)	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020	Jun. 30, 2020	May 31, 2018	Jan. 31, 2018
Operating Lease, Cost	$ 188,909	$ 191,913
Operating Lease, Weighted Average Remaining Lease Term (Year)	6 years 6 months 14 days
Operating Lease, Weighted Average Discount Rate, Percent	3.25%
Operating Lease, Payments	$ 184,554	174,860
First Community Bankers Insurance Co., LLC [Member]
Liability for Claims and Claims Adjustment Expense, Ending Balance	$ 530,720	$ 390,171
Operating Lease for Hampstead Branch [Member]
Lessee, Operating Lease, Number of Renewal Terms	3
Lessee, Operating Lease, Renewal Term (Year)			5 years
Operating Lease for Certain Facilities of Greenmount Branch [Member]
Lessee, Operating Lease, Renewal Term (Year)						5 years
Lessee, Operating Lease, Term of Contract (Year)						5 years
Operating Lease for the Corporate Headquarters [Member]
Lessee, Operating Lease, Renewal Term (Year)				5 years
Lease for Carroll Lutheran Village Branch [Member]
Lessee, Operating Lease, Renewal Term (Year)					5 years
Lessee, Operating Lease, Term of Contract (Year)					5 years
Lessee, Operating Lease, Additional Renewal Term Number					2

Note 8 - Commitments and Cont_4

Note 8 - Commitments and Contingencies - Operating Lease Assets and Liabilities (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Other Assets [Member]
Operating lease right of use asset	$ 943,933	$ 1,093,382
Other Liabilities [Member]
Operating lease liabilities	$ 1,166,476	$ 1,311,570

Note 8 - Commitments and Cont_5

Note 8 - Commitments and Contingencies - Operating Lease Liabilities (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
2023	$ 188,734
2024	194,252
2025	199,944
2026	205,816
2027	211,874
Thereafter	282,496
Total lease payments	1,283,116
Less imputed interest	(116,640)
Other Liabilities [Member]
Present value of operating lease liabilities	$ 1,166,476	$ 1,311,570

Note 8 - Commitment and Conting

Note 8 - Commitment and Contingencies - Outstanding Loan Commitments, Unused Lines of Credit, and Letters of Credit (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Letter of Credit [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	$ 1,403,956	$ 1,470,742
Loan Origination Commitments [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	13,975,917	34,797,370
Unused lines of Credit [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	37,550,783	41,536,430
Unused lines of Credit [Member] | Home Equity Loan [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	12,086,758	12,707,519
Unused lines of Credit [Member] | Commercial Lines [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	25,464,025	28,828,911
Construction and Land Development [Member] | Loan Origination Commitments [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	911,500	6,810,353
Commercial Portfolio Segment [Member] | Loan Origination Commitments [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	398,046	630,000
Commercial Real Estate Portfolio Segment [Member] | Loan Origination Commitments [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	9,264,000	23,552,400
Residential Portfolio Segment [Member] | Loan Origination Commitments [Member]
Outstanding loan commitments, unused lines of credit, and letters of credit	$ 3,402,371	$ 3,804,617

Note 9 - Retirement Plans (Deta

Note 9 - Retirement Plans (Details Textual)	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Number of Employees Covered by Life Insurance Policy	12
Other Postretirement Benefits Cost (Reversal of Cost)	$ 6,809	$ 6,643
Employee Benefits and Share-Based Compensation	$ 1,798,150	1,718,465
Supplemental Employee Retirement Plan [Member]
Number of Employees Participating in Plan	4
Employee Benefits and Share-Based Compensation	$ 154,911	168,129
Profit Sharing Plan [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	4%
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	100%
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 256,251	$ 259,042

Note 10 - Interest-bearing De_3

Note 10 - Interest-bearing Deposits (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Oct. 01, 2020
Interest-Bearing Deposit Liabilities, Certificates of Deposit, Premium			$ 616,377
Accretion of Premium on Certificate of Deposits	$ 160,923	$ 249,840

Note 10 - Interest-bearing De_4

Note 10 - Interest-bearing Deposits - Classification of Interest-Bearing Deposits (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
NOW	$ 135,716,736	$ 130,486,845
Money market	99,173,640	90,994,339
Savings	103,308,454	99,959,988
Certificates of deposit, greater than $250,000	37,976,238	34,697,273
Other time deposits	120,740,707	146,100,610
Interest-bearing Deposit Liabilities	$ 496,915,775	$ 502,239,055

Note 10 - Interest-bearing De_5

Note 10 - Interest-bearing Deposits - Certificates of Deposit Maturity Schedule (Details)	Dec. 31, 2022 USD ($)
2023	$ 110,590,325
2024	39,187,383
2025	4,711,082
2026	2,570,470
2027	1,657,685
Time Deposits	$ 158,716,945

Note 11 - Borrowed Funds (Detai

Note 11 - Borrowed Funds (Details Textual) - USD ($)		48 Months Ended
	Sep. 30, 2020	Sep. 30, 2025	Dec. 31, 2022	Dec. 31, 2021
Unsecured Line of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 14,500,000
Secured Line of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity			9,000,000
Federal Home Loan Bank Advances [Member]
Line of Credit Facility, Maximum Borrowing Capacity			60,500,000
Federal Reserve Bank Advances [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 25,400,000
Loan to Fund Merger Consideration [Member]
Debt Instrument, Face Amount	$ 17,000,000
Payments of Debt Issuance Costs	28,126
Proceeds from Issuance of Long-term Debt, Total	$ 16,971,874
Debt Instrument, Interest Rate, Stated Percentage	4.10%		4.10%	4.10%
Long-Term Debt, Maturity, Year Five			$ 9,916,667
Loan to Fund Merger Consideration [Member] | Forecast [Member]
Debt Instrument, Periodic Payment, Total		$ 646,472

Note 11 - Borrowed Funds - Outs

Note 11 - Borrowed Funds - Outstanding Advances (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Sep. 30, 2020
Amount	$ 5,175,303	$ 5,414,026
Amount	20,000,000	5,000,000
Amount	$ 15,095,642	$ 16,978,905
Federal Home Loan Bank advances	1.55%	1.01%
Carrying value	$ 11,389,983	$ 7,062,928
Securities Sold under Agreements to Repurchase [Member]
Amount	0.30%	0.43%
Securities sold under repurchase agreements	0.30%	0.31%
Federal Reserve Bank Advances [Member]
Carrying value - loans	$ 62,720,368	$ 55,399,031
Federal Home Loan Bank Advances [Member]
Amount	$ 20,000,000	$ 5,000,000
Federal Home Loan Bank advances	3.68%	1%
Carrying value - loans	$ 458,863,387	$ 111,547,027
Federal Home Loan Bank Advances at 1.00% Due in 2025 [Member]
Interest Rate	1%
Amount	$ 5,000,000	5,000,000
Federal Home Loan Bank Advances at 4.75% Due in 2023 [Member]
Interest Rate	4.57%
Amount	$ 15,000,000	0
Loan to Fund Merger Consideration [Member]
Amount	4.10%
Amount	$ 15,095,642	$ 16,978,905
Long-term debt	4.10%	4.10%
Long-term debt	4.10%	4.10%	4.10%

Note 12 - Income Taxes (Details

Note 12 - Income Taxes (Details Textual) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($)
Income Tax Examination, Penalties and Interest Expense, Total	$ 3
Open Tax Year	2019 2020 2021

Note 12 - Income Taxes - Compon

Note 12 - Income Taxes - Components of Income Tax Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Federal	$ 1,852,205	$ 1,798,535
State	883,493	794,348
Current Income Tax Expense (Benefit), Total	2,735,698	2,592,883
Deferred income taxes	(250,672)	(160,070)
Income Tax Expense (Benefit), Total	$ 2,485,026	$ 2,432,813

Note 12 - Income Taxes - Comp_2

Note 12 - Income Taxes - Components of Deferred Tax Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Depreciation	$ 15,108	$ 8,291
Insurance proceeds for storm damage	185,326	0
Provision for loan losses	(160,332)	(141,488)
Other real estate owned allowance for loss	0	(46,561)
Nonaccrual interest	(29,429)	(83,961)
Prepaid captive insurance premium	(357,518)	(14,375)
Write-down of equity securities	(11,583)	(4,227)
Lease liability, net of right of use asset	(1,198)	(4,693)
Purchase accounting adjustments	153,455	175,037
Post-retirement benefits	(44,501)	(48,093)
Deferred Income Tax Expense (Benefit), Total	$ (250,672)	$ (160,070)

Note 12 - Income Taxes - Comp_3

Note 12 - Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Allowance for loan losses	$ 1,111,679	$ 951,348
Other real estate owned allowance for loss	434,628	434,628
Capital loss carryover	0	5,300
Nonaccrual interest	118,010	88,581
Post-retirement benefits	695,983	651,482
Purchase accounting adjustments	81,687	235,142
Unrealized loss on securities available for sale	6,433,263	468,726
Lease liability, net of right of use asset	61,238	60,040
Other	21,079	0
Deferred Tax Assets, Net of Valuation Allowance, Total	8,957,567	2,895,247
Deferred tax liabilities
Prepaid captive insurance premium	0	357,518
Depreciation	364,008	348,900
Insurance proceeds from storm damage	185,326	0
Other	15,575	11,379
Deferred Tax Liabilities, Total	564,909	717,797
Net deferred tax asset	$ 8,392,658	$ 2,177,450

Note 12 - Income Taxes - Reconc

Note 12 - Income Taxes - Reconciliation of Effective Income Tax Rate (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Statutory federal income tax rate	21%	21%
Federal tax-exempt income	(3.60%)	(4.40%)
State income taxes, net of federal income tax benefit	5.80%	5.80%
Other	0.30%	0.60%
Effective Income Tax Rate Reconciliation, Percent, Total	23.50%	23%

Note 13 - Capital Standards (De

Note 13 - Capital Standards (Details Textual)	Dec. 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 13 - Capital Standards - C

Note 13 - Capital Standards - Capital Requirements (Details) $ in Thousands	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Capital	$ 75,826	$ 69,957
Capital to Risk Weighted Assets	0.1296	0.1324
Capital Required for Capital Adequacy	$ 61,410	$ 55,471
Capital Required for Capital Adequacy to Risk Weighted Assets	0.1050	0.1050
Capital Required to be Well Capitalized	$ 58,486	$ 52,830
Capital Required to be Well Capitalized to Risk Weighted Assets	0.10	0.1000
Tier One Risk Based Capital	$ 71,676	$ 66,307
Tier One Risk Based Capital to Risk Weighted Assets	0.1226	0.1255
Tier One Risk Based Capital Required for Capital Adequacy	$ 49,713	$ 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	$ 46,789	$ 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	$ 71,676	$ 66,307
Common Equity Tier One Capital Ratio	0.1226	0.1255
Common Equity Tier One Capital Required for Capital Adequacy	$ 40,940	$ 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	$ 38,016	$ 34,339
Common Equity Tier One Capital Required to be Well Capitalized Ratio	0.065	0.0650
Tier One Leverage Capital	$ 71,676	$ 66,307
Tier One Leverage Capital to Average Assets	0.0983	0.0927
Tier One Leverage Capital Required for Capital Adequacy	$ 29,167	$ 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	$ 36,459	$ 35,767
Tier One Leverage Capital Required to be Well Capitalized to Average Assets	0.05	0.0500

Note 14 - Fair Value (Details T

Note 14 - Fair Value (Details Textual)	12 Months Ended
	Dec. 31, 2022
Other Real Estate Owned [Member]
Expected Sales Costs to Appraised Value, Percentage	10%
Impaired Loans [Member]
Expected Sales Costs to Appraised Value, Percentage	10%

Note 14 - Fair Value - Summariz

Note 14 - Fair Value - Summarizes Financial Assets Measured at Fair Value (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Fair value, available for sale	$ 126,314,449	$ 149,237,916
Equity security at fair value	489,145	543,605
Fair Value, Recurring [Member]
Fair value, available for sale	126,314,449	149,237,916
Equity security at fair value	489,145	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
Equity security at fair value	489,145	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	125,914,449	148,587,916
Equity security at fair value	0	0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member]
Other real estate owned, net	0	0
Impaired loans	0	0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	400,000	650,000
Equity security at fair value	0	0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member]
Other real estate owned, net	1,242,365	1,242,365
Impaired loans	373,500	373,500
US States and Political Subdivisions Debt Securities [Member]
Fair value, available for sale	552,281	763,498
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	552,281	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	552,281	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	1,019,797	1,397,762
SBA Pools [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	1,019,797	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	1,019,797	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	9,389,896	9,234,207
Corporate Debt Securities [Member] | Fair Value, Recurring [Member]
Fair value, available for sale		9,234,207
Corporate Debt Securities [Member] | Fair Value, Nonrecurring [Member]
Fair value, available for sale	9,389,896
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale		0
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member]
Fair value, available for sale	0
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale		8,584,207
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member]
Fair value, available for sale	8,989,896
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale		650,000
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member]
Fair value, available for sale	400,000
Collateralized Mortgage-Backed Securities [Member]
Fair value, available for sale	115,352,475	137,842,449
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	115,352,475	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	115,352,475	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 14 - Fair Value - Assets M

Note 14 - Fair Value - Assets Measured on a Nonrecurring Basis (Details)	12 Months Ended
	Dec. 31, 2022 USD ($)
Other Real Estate Owned [Member]
Percent, expected sales cost to appraised rate	10%
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Commercial Real Estate Loans [Member]
Fair value	$ 373,500
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Commercial Real Estate Loans [Member] | Minimum [Member]
Percent, expected sales cost to appraised rate	0%
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Commercial Real Estate Loans [Member] | Maximum [Member]
Percent, expected sales cost to appraised rate	20%
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Impaired Commercial Real Estate Loans [Member] | Weighted Average [Member]
Percent, expected sales cost to appraised rate	(10.00%)
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member]
Fair value	$ 1,242,365
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | Minimum [Member]
Percent, expected sales cost to appraised rate	0%
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | Maximum [Member]
Percent, expected sales cost to appraised rate	10%
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member] | Weighted Average [Member]
Percent, expected sales cost to appraised rate	(5.00%)

Note 14 - Fair Value - Reconcil

Note 14 - Fair Value - Reconciliation of Level 3 Inputs (Details) - Corporate Bond Securities [Member]	12 Months Ended
	Dec. 31, 2022 USD ($)
Fair value beginning balance	$ 650,000
Additions	0
Principal payments received	0
Transfer to level 2	(250,000)
Fair value ending balance	$ 400,000

Note 14 - Fair Value - Estimate

Note 14 - Fair Value - Estimated Fair Value of Financial Instruments (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021
Fair value, held to maturity	$ 18,879,795
Securities held to maturity (1)	18,879,795
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	7,263,537	$ 26,462,106
Noninterest-bearing deposits	126,695,349	124,175,615
Securities sold under repurchase agreements	5,175,303	5,414,026
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Certificates of deposit in other banks	100,000	350,000
Accrued interest receivable	1,815,784	1,609,063
Fair value, held to maturity	17,537,377	18,778,935
Mortgage loans held for sale	428,355	126,500
Restricted stock, at cost	1,332,500	675,400
Bank owned life insurance	14,585,342	11,556,163
Securities held to maturity (1)	17,537,377	18,778,935
Interest-bearing deposits	496,915,775	502,239,055
Federal Home Loan Bank advances	20,000,000	5,000,000
Long-term debt	15,095,642	16,978,905
Accrued interest payable	349,910	295,910
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value, held to maturity	2,971,620	3,073,040
Securities held to maturity (1)	2,971,620	3,073,040
Loans, net	516,920,540	482,011,334
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	7,263,537	26,462,106
Noninterest-bearing deposits	126,695,349	124,175,615
Securities sold under repurchase agreements	5,175,303	5,414,026
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Certificates of deposit in other banks	100,000	350,000
Accrued interest receivable	1,815,784	1,609,063
Fair value, held to maturity	15,908,175	19,732,561
Mortgage loans held for sale	434,271	128,829
Restricted stock, at cost	1,332,500	675,400
Bank owned life insurance	14,585,342	11,556,163
Securities held to maturity (1)	15,908,175	19,732,561
Interest-bearing deposits	492,769,775	502,396,172
Federal Home Loan Bank advances	19,622,000	4,967,000
Long-term debt	14,241,237	17,298,111
Accrued interest payable	349,910	295,910
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value, held to maturity	2,971,620	3,073,040
Securities held to maturity (1)	2,971,620	3,073,040
Loans, net	$ 503,144,771	$ 487,012,970

Note 15 - Parent Company Fina_3

Note 15 - Parent Company Financial Information - Balance Sheets (Details) - USD ($)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Other assets	$ 5,587,654	$ 5,522,877
Assets	718,210,672	716,677,255
Amount	15,095,642	16,978,905
Accrued interest payable	349,910	295,910
Liabilities, Total	670,435,709	660,055,797
Common stock, par value $.01 per share, authorized 5,000,000 shares; issued and outstanding 3,071,214 in 2022 and 3,037,137 shares in 2021	30,712	30,372
Additional paid-in capital	29,549,914	28,857,422
Retained earnings	35,300,166	29,128,600
Accumulated other comprehensive income	(17,105,829)	(1,394,936)
Stockholders' Equity Attributable to Parent, Ending Balance	47,774,963	56,621,458	$ 51,729,483
Liabilities and Equity, Total	718,210,672	716,677,255
Parent Company [Member]
Cash and cash equivalents	806,384	930,354
Investment in subsidiaries	62,064,533	72,662,265
Other assets	158,127	185,866
Assets	63,029,044	73,778,485
Amount	15,095,642	16,978,905
Accrued interest payable	158,439	178,122
Liabilities, Total	15,254,081	17,157,027
Common stock, par value $.01 per share, authorized 5,000,000 shares; issued and outstanding 3,071,214 in 2022 and 3,037,137 shares in 2021	30,712	30,372
Additional paid-in capital	29,549,914	28,857,422
Retained earnings	35,300,166	29,128,600
Accumulated other comprehensive income	(17,105,829)	(1,394,936)
Stockholders' Equity Attributable to Parent, Ending Balance	47,774,963	56,621,458
Liabilities and Equity, Total	$ 63,029,044	$ 73,778,485

Note 15 - Parent Company Fina_4

Note 15 - Parent Company Financial Information - Balance Sheets (Details) (Parentheticals) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01	$ 0.01
Common Stock, Shares Authorized (in shares)	5,000,000	5,000,000
Common Stock, Shares, Issued (in shares)	3,071,214	3,037,137
Common Stock, Shares, Outstanding (in shares)	3,071,214	3,037,137
Parent Company [Member]
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01	$ 0.01
Common Stock, Shares Authorized (in shares)	5,000,000	5,000,000
Common Stock, Shares, Issued (in shares)	3,071,214	3,037,137
Common Stock, Shares, Outstanding (in shares)	3,071,214	3,037,137

Note 15 - Parent Company Fina_5

Note 15 - Parent Company Financial Information - Statements of Income (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Total income	$ 26,269,653	$ 25,680,403
Noninterest expense	15,367,280	14,128,599
Income taxes (benefit)	2,485,026	2,432,813
Net Income	8,090,127	8,149,606
Parent Company [Member]
Cash dividends from subsidiaries	3,574,000	2,595,000
Total income	3,574,000	2,595,000
Interest expense - long-term debt	(664,621)	(712,306)
Noninterest expense	90,969	537
Income before income taxes and equity in (distributed) undistributed income of subsidiaries	2,818,410	1,882,157
Income taxes (benefit)	(158,556)	(149,486)
Income before equity in (distributed) undistributed income of subsidiaries	2,976,966	2,031,643
Dividends in excess of income of insurance subsidiary	(247,472)	(100,019)
Equity in undistributed income of bank subsidiary	5,360,633	6,217,982
Net Income	$ 8,090,127	$ 8,149,606

Note 15 - Parent Company Fina_6

Note 15 - Parent Company Financial Information - Statements of Cash Flows (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Net Income	$ 8,090,127	$ 8,149,606
Decrease in accrued interest payable	54,000	(113,712)
Amortization of debt issuance costs	5,625	5,625
Cash provided by operating activities	7,155,962	11,704,730
Cash used by investing activities	(35,358,568)	(58,984,893)
Dividends paid, net of reinvestments	(1,225,729)	(1,156,418)
Cash used in financing activities	9,004,037	32,766,599
Net (decrease) increase in cash and cash equivalents	(19,198,569)	(14,513,564)
Cash and cash equivalents at beginning of period	26,462,106	40,975,670
Cash and cash equivalents at end of period	7,263,537	26,462,106
Parent Company [Member]
Net Income	8,090,127	8,149,606
Equity in undistributed income of bank subsidiary	(5,360,633)	(6,217,982)
Decrease in accrued interest payable	(19,683)	(1,935)
Amortization of debt issuance costs	5,625	5,625
Change in income tax receivable	27,739	(149,486)
Dividend received in excess of income of insurance subsidiary	247,472	100,019
Cash provided by operating activities	2,990,647	1,885,847
Cash used by investing activities	0	0
Proceeds from Issuance of Long-term Debt, Total	(1,888,888)	0
Dividends paid, net of reinvestments	(1,225,729)	(1,156,418)
Cash used in financing activities	(3,114,617)	(1,156,418)
Net (decrease) increase in cash and cash equivalents	(123,970)	729,429
Cash and cash equivalents at beginning of period	930,354	200,925
Cash and cash equivalents at end of period	$ 806,384	$ 930,354