Farmers and Merchants Bancshares (FMFG) 10-Q 15 May 23 2023 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2023	May 12, 2023
Document Information [Line Items]
Entity Central Index Key	0001698022
Entity Registrant Name	Farmers & Merchants Bancshares, Inc.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	000-55756
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	81-3605835
Entity Address, Address Line One	4510 Lower Beckleysville Road, Suite H
Entity Address, City or Town	Hampstead
Entity Address, State or Province	MD
Entity Address, Postal Zip Code	21074
City Area Code	410
Local Phone Number	374-1510
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		3,071,214

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Cash and due from banks	$ 8,295,466	$ 6,414,822
Federal funds sold and other interest-bearing deposits	1,270,888	848,715
Cash and cash equivalents	9,566,354	7,263,537
Certificates of deposit in other banks	100,000	100,000
Securities available for sale, at fair value	125,822,067	126,314,449
Securities held to maturity, at amortized cost less allowance for credit losses of $60,592 and $0	20,478,223	20,508,997
Equity security, at fair value	497,812	489,145
Restricted stock, at cost	907,500	1,332,500
Mortgage loans held for sale	0	428,355
Loans, less allowance for credit losses of $4,589,232 and $4,150,198	520,895,600	516,920,540
Premises and equipment, net	6,096,874	6,186,594
Accrued interest receivable	1,739,314	1,815,784
Deferred income taxes, net	7,998,178	8,392,658
Other real estate owned, net	1,242,365	1,242,365
Bank owned life insurance	14,668,447	14,585,342
Goodwill and other intangibles, net	7,040,670	7,042,752
Other assets	5,626,083	5,587,654
Assets	722,679,487	718,210,672
Deposits:
Noninterest-bearing	127,342,442	126,695,349
Interest-bearing	509,966,348	496,915,775
Total deposits	637,308,790	623,611,124
Securities sold under repurchase agreements	3,077,227	5,175,303
Federal Home Loan Bank of Atlanta advances	10,000,000	20,000,000
Long-term debt, net of issuance costs	14,624,826	15,095,642
Accrued interest payable	721,007	349,910
Other liabilities	6,190,496	6,203,730
Liabilities	671,922,346	670,435,709
Commitments and contingencies
Stockholders' equity:
Common stock, par value $.01 per share, authorized 5,000,000 shares; issued and outstanding 3,071,214 shares in 2023 and 2022	30,712	30,712
Additional paid-in capital	29,549,914	29,549,914
Retained earnings	36,851,782	35,300,166
Accumulated other comprehensive loss	(15,675,267)	(17,105,829)
Equity, Attributable to Parent	50,757,141	47,774,963
Liabilities and Equity	$ 722,679,487	$ 718,210,672

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Held-to-Maturity, Allowance for Credit Loss	$ 60,592	$ 0
Loans, allowance for credit loss	$ 4,589,232	$ 4,150,198
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	3,071,214
Common stock, share outstanding (in shares)	3,071,214	3,071,214

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Interest income:
Loans, including fees	$ 6,045,548	$ 5,683,362
Investment securities - taxable	762,208	644,461
Investment securities - tax exempt	139,844	149,487
Federal funds sold and other interest earning assets	104,929	12,415
Total interest income	7,052,529	6,489,725
Interest expense:
Deposits	1,034,851	338,560
Securities sold under repurchase agreements	4,338	3,251
Federal Home Loan Bank advances and long-term debt	356,272	183,825
Total interest expense	1,395,461	525,636
Net interest income	5,657,068	5,964,089
Recovery of credit losses	(270,000)	0
Net interest income after recovery of credit losses	5,927,068	5,964,089
Noninterest income:
Mortgage banking income	25,293	122,688
Bank owned life insurance income	83,105	52,990
Fair value adjustment on equity security	5,767	(26,817)
Gain on sale of SBA loans	0	93,600
Total noninterest income	382,414	495,807
Noninterest expense:
Salaries	1,876,444	1,740,395
Employee benefits	594,057	511,792
Occupancy	214,116	228,427
Furniture and equipment	239,727	214,615
Other	833,091	1,104,369
Total noninterest expense	3,757,435	3,799,598
Income before income taxes	2,552,047	2,660,298
Income taxes	651,196	609,496
Net income	$ 1,900,851	$ 2,050,802
Earnings per share - basic and diluted (in dollars per share)	$ 0.62	$ 0.68
Deposit Account [Member]
Noninterest income:
Noninterest revenue	$ 186,707	$ 181,466
Financial Service, Other [Member]
Noninterest income:
Noninterest revenue	$ 81,542	$ 71,880

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net income	$ 1,900,851	$ 2,050,802
Other comprehensive income (loss), net of income taxes:
Net unrealized gain (loss) arising during the period	1,973,665	(8,920,463)
Total unrealized gain (loss) on investment securities available for sale	1,973,665	(8,920,463)
Income tax expense (benefit)	543,103	(2,454,690)
Total other comprehensive income (loss)	1,430,562	(6,465,773)
Total comprehensive income (loss)	$ 3,331,413	$ (4,414,971)

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Cumulative Effect, Period of Adoption, Adjustment [Member] Common Stock [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Additional Paid-in Capital [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] Retained Earnings [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member] AOCI Attributable to Parent [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2021						3,037,137
Balance at Dec. 31, 2021						$ 30,372	$ 28,857,422	$ 29,128,600	$ (1,394,936)	$ 56,621,458
Net income						0	0	2,050,802	0	2,050,802
Other comprehensive income (loss)						$ 0	0	0	(6,465,773)	(6,465,773)
Balance (in shares) at Mar. 31, 2022						3,037,137
Balance at Mar. 31, 2022						$ 30,372	28,857,422	31,179,402	(7,860,709)	52,206,487
Balance (in shares) at Dec. 31, 2022						3,071,214
Balance (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2022	$ 0	$ 0	$ (341,392)	$ 0	$ (341,392)
Balance at Dec. 31, 2022						$ 30,712	29,549,914	35,300,166	(17,105,829)	47,774,963
Net income						0	0	1,900,851	0	1,900,851
Other comprehensive income (loss)						0	0	0	1,430,562	1,430,562
Dividend adjustment						$ 0	0	(7,843)	0	(7,843)
Balance (in shares) at Mar. 31, 2023						3,071,214
Balance at Mar. 31, 2023						$ 30,712	$ 29,549,914	$ 36,851,782	$ (15,675,267)	$ 50,757,141

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Reconciliation of net income to net cash provided by operating activities
Net income	$ 1,900,851	$ 2,050,802
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	127,908	116,110
Recovery of credit losses	(270,000)	0
Amortization of right of use asset	(927)	2,177
Equity security dividends reinvested	(2,900)	(1,303)
Unrealized loss on equity security	(5,767)	26,817
Gain on sale of SBA loans	0	(93,600)
Gain on sale of premises and equipment	(9,000)	0
Gain on fair value hedge	(34,113)	0
Amortization of debt issuance costs	1,406	1,406
Amortization of premiums and accretion of discounts, net	(808)	(212,443)
Bank owned life insurance cash surrender value	(83,105)	(52,990)
Increase (decrease) in
Deferred loan fees and costs, net	(12,202)	(112,930)
Accrued interest payable	371,097	(19,337)
Other liabilities	(249,840)	106,030
Decrease (increase) in
Mortgage loans held for sale	428,355	(158,500)
Accrued interest receivable	76,470	47,049
Other assets	(86,736)	(127,624)
Net cash provided by operating activities	2,150,689	1,571,664
Cash flows from investing activities
Proceeds from maturity and call of securities, Available for sale	2,615,824	6,232,740
Proceeds from maturity and call of securities, Held to maturity	0	535,000
Purchase of securities, Available for sale	0	(11,776,091)
Loans made to customers, net of principal collected	(4,020,500)	(2,067,575)
Proceeds from sale of SBA loans	0	664,650
Redemption (purchase) of stock in FHLB of Atlanta	425,000	(19,600)
Proceeds from sale of premises and equipment	9,000	0
Purchases of premises, equipment and software	(27,243)	(116,388)
Net cash used in investing activities	(997,919)	(6,547,264)
Cash flows from financing activities
Noninterest-bearing deposits	647,093	8,453,893
Interest-bearing deposits	13,081,095	(1,043,666)
Securities sold under repurchase agreements	(2,098,076)	(1,330,319)
Federal Home Loan Bank of Atlanta advances	(10,000,000)	0
Long-term debt principal payments	(472,222)	(427,221)
Dividends paid, net of reinvestments	(7,843)	0
Net cash provided by financing activities	1,150,047	5,652,687
Net decrease in cash and cash equivalents	2,302,817	677,087
Cash and cash equivalents at beginning of period	7,263,537	26,462,106
Cash and cash equivalents at end of period	9,566,354	27,139,193
Supplementary disclosure of cash flow information:
Cash paid during the period for interest	1,051,398	585,729
Cash paid during the period for income taxes	0	0
Net unrealized gain (loss) on securities available for sale	2,187,186	(8,920,461)
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Supplementary disclosure of cash flow information:
Cumulative effect adjustment for implemenation of ASU 2016-13	$ 341,392	$ 0

Note 1 - Principles of Consolid

Note 1 - Principles of Consolidation	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Principles of consolidation The consolidated financial statements include the accounts of Farmers and Merchants Bancshares, Inc. and its wholly owned subsidiaries, Farmers and Merchants Bank (the “Bank”), and Series Protected Cell FCB- 4 one

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	2. Basis of Presentation The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and in accordance with the instructions to Form 10 8 03 X. not three March 31, 2023 not may December 31, 2023 December 31, 2022, 10 December 31, 2022 Recent Accounting Pronouncements Management has the responsibility for the selection and use of appropriate accounting policies. The significant accounting policies used by the Company are described in the notes to the consolidated financial statements. The following accounting guidance has been approved by the FASB and would apply to the Company if the Company entered into an applicable activity. In March 2020, 2020 04, 848 2020 04 March 12, 2020 December 31, 2022. March 31, 2023, 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. As of March 31, 2023, Recently Adopted Accounting Developments During June 2016, 2016 13, 326 2016 13 January 1, 2023. The Company is utilizing a third 326, not may In March 2022, 2022 02, 326 2022 02 2016 13 2022 02 January 1, 2023. In March 2022, No. 2022 01, 815 2022 01 815 2017, 2017 12 one not 2022 01 2022 01 January 1, 2023. February 2023 March 31, 2023, no Summary of Significant Accounting Policies Allowance for Credit Losses. As further discussed below, we adopted ASU 2016 13, 326 January 1, 2020. 326 326” 326, Allowance for Credit Losses - Held-to-Maturity Securities: The allowance for credit losses on held-to-maturity securities is a contra-asset valuation account, calculated in accordance with ASC 326, 3 Allowance For Credit Losses - Available-for-Sale Securities: For available-for-sale securities in an unrealized loss position, we first not not 2016 13, January 1, 2023, Allowance for Credit Losses - Loans: The allowance for credit losses on loans is a contra-asset valuation account, calculated in accordance with ASC 326, not The amount of the allowance represents management's best estimate of current expected credit losses on loans considering available information, from internal and external sources, relevant to assessing collectability over the loans' contractual terms, adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals and modifications unless (i) management has a reasonable expectation that a loan to an individual borrower that is experiencing financial difficulty will be modified or (ii) such extension or renewal options are not may not not Credit loss expense related to loans reflects the totality of actions taken on all loans for a particular period including any necessary increases or decreases in the allowance related to changes in credit loss expectations associated with specific loans or pools of loans. Portions of the allowance may In calculating the allowance for credit losses, most loans are segmented into pools based upon similar characteristics and risk profiles. Common characteristics and risk profiles include the type/purpose of loan, underlying collateral, and historical/expected credit loss patterns. For modeling purposes, our loan pools include (i) commercial real estate - owner occupied, (ii) commercial real estate - non-owner occupied, (iii) construction/land development, (iv) residential – multifamily, (v) residential – single family (vi) residential – single family home equity, (vii) commercial and industrial (viii) consumer and other. We periodically reassess each pool to ensure the loans within the pool continue to share similar characteristics and risk profiles and to determine whether further segmentation is necessary. The average charge-off method calculates an estimate of losses based upon past experience which is applied prospectively across the life of each loan. This method allows for analysis and calculation on a note-by-note basis due to the CECL model calculating future cash flows at the individual note level based upon note characteristics. A forward balance is calculated from each note’s prior period balance, less monthly principal paydown and prepayment amount. The Company will be utilizing its own loss data as the source for its historical loss calculations within the CECL model, where appropriate. This information is sourced from call report data and spans back to an effective start date of March 31, 2000. one may may no March 31, 2000 The measurement of expected credit losses is impacted by loan/borrower attributes and certain macroeconomic variables. Significant loan/borrower attributes utilized in our modeling processes include, among other things, (i) origination date, (ii) maturity date, (iii) payment type, (iv) collateral type and amount, (v) current risk grade, (vi) current unpaid balance and commitment utilization rate, (vii) payment status/delinquency history and (viii) expected recoveries of previously charged-off amounts. Management qualitatively adjusts model results for risk factors that are not may may In some cases, management may Allowance for Credit Losses - Off-Balance-Sheet Credit Exposures: The allowance for credit losses on off-balance-sheet credit exposures is a liability account, calculated in accordance with ASC 326, No The table below provides the impact of the implementation of ASC 326: January 1, 2023 As Reported Under ASC 326 Pre-ASC 326 Adoption Impact of ASC 326 Adoption Assets: Allowance for credit losses on debt securities held to maturity $ 51,990 $ - $ 51,990 Loans Real estate: Commercial 2,467,744 2,818,582 (350,838 ) Construction and land development 285,572 164,596 120,976 Residential 1,258,146 793,919 464,227 Commercial 472,503 337,303 135,200 Consumer 169 4,706 (4,537 ) Unallocated - 31,092 (31,092 ) Allowance for credit losses on loans 4,484,134 4,150,198 333,936 Liabilities Allowance for credit losses on off balance sheet credit exposures 85,073 - 85,073 Derivative Financial Instruments: At the inception of a derivative contract, the Company designates the derivative as one three three 1 2 3 no not not Accrued settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Accrued settlements on derivatives not not The Company formally documents the relationship between derivatives and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in fair values or cash flows of the hedged items. The Company discontinues hedge accounting when it determines that the derivative is no no no no When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as non-interest income. When a fair value hedge is discontinued, the hedged asset or liability is no The Company is exposed to losses if a counterparty fails to make its payments under a contract in which the Company is in the net receiving position. The Company anticipates that the counterparties will be able to fully satisfy their obligations under the agreements. All the contracts to which the Company is a party settle monthly or quarterly. In addition, the Company obtains collateral above certain thresholds of the fair value of its derivatives for each counterparty based upon their credit standing and the Company has netting agreements with the dealers with which it does business. The Company’s derivative financial instruments are described more fully in Note 7. The accounting policies adopted by management are consistent with authoritative GAAP and are consistent with those followed by our peers.

Note 3 - Investment Securities

Note 3 - Investment Securities	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]	3. Investment Securities Investments in debt securities are summarized as follows: Amortized Unrealized Unrealized Fair Allowance for Net Carrying March 31, 2023 cost gains losses value Credit Losses Amount Available for sale State and municipal $ 500,000 $ 15 $ 13,167 $ 486,848 $ - $ 486,848 SBA pools 952,033 1,556 13,700 939,889 - 939,889 Corporate bonds 10,398,704 - 978,981 9,419,723 - 9,419,723 Mortgage-backed securities 135,384,087 - 20,408,480 114,975,607 - 114,975,607 $ 147,234,824 $ 1,571 $ 21,414,328 $ 125,822,067 $ - $ 125,822,067 Held to maturity State and municipal $ 20,538,815 $ 14,857 $ 1,317,685 $ 19,235,987 $ 60,592 $ 20,478,223 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 The allowance for credit losses on held-to-maturity securities is a contra-asset valuation account that is deducted from the amortized cost basis of held-to-maturity securities to present the net amount expected to be collected. Management measures expected credit losses on held-to-maturity securities on a collective basis by major security type with each type sharing similar risk characteristics, and considers historical credit loss information that is adjusted for current conditions and reasonable and supportable forecasts. With regard to securities issued by States and political subdivisions and other held-to-maturity securities, management considers (i) issuer bond ratings, (ii) historical loss rates for given bond ratings, (iii) whether issuers continue to make timely principal and interest payments under the contractual terms of the securities, and (iv) internal forecasts. Unrated bonds were underwritten similar to commercial loans and the financial condition of the issuer is monitored periodically. Expected credit losses on commercial loans are applied to unrated bonds. The following table summarizes Moody's and/or Standard & Poor's bond ratings (Company’s primary credit quality indicator) for our portfolio of held-to-maturity securities issued by states and political subdivisions as of March 31, 2023 March 31, 2023 AAA 2,774,579 AA 10,371,643 A 4,126,007 BAA 246,355 Not rated 3,020,231 Total 20,538,815 Historical loss rates associated with securities having similar grades as those in our portfolio have generally not March 31, 2023, no none The following table details activity in the allowance for credit losses on held-to-maturity securities: March 31, 2023 Beginning balance $ - Impact of adopting ASC 326 51,990 Credit loss expense 8,602 Ending balance $ 60,592 Contractual maturities, shown below, will differ from actual maturities because borrowers and issuers may Available for Sale Held to Maturity Amortized Fair Amortized Fair March 31, 2023 cost value cost value Within one year $ 1,014,934 $ 985,535 $ 330,000 $ 330,198 Over one to five years 2,561,931 2,427,580 476,355 473,747 Over five to ten years 7,321,839 6,493,456 3,493,376 3,423,349 Over ten years - - 16,178,492 15,008,693 10,898,704 9,906,571 20,478,223 19,235,987 Mortgage-backed securities and SBA pools, due in monthly installments 136,336,120 115,915,496 - - $ 147,234,824 $ 125,822,067 $ 20,478,223 $ 19,235,987 Securities with a carrying value of $24,184,578 and $24,258,980 as of March 31, 2023 December 31, 2022, During the three March 31, 2023 2022, The following table sets forth the Company’s gross unrealized losses on a continuous basis for investments in debt securities, by category and length of time, at March 31, 2023 December 31, 2022. March 31, 2023 Less than 12 months 12 months or more Total Description of investments Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss State and municipal $ - $ - $ 236,833 $ 13,167 $ 236,833 $ 13,167 SBA pools - - 778,455 13,700 778,455 13,700 Corporate bonds 1,776,149 130,322 7,643,574 848,659 9,419,723 978,981 Mortgage-backed securities 14,930,119 945,787 100,045,490 19,462,693 114,975,609 20,408,480 Total $ 16,706,268 $ 1,076,109 $ 108,704,352 $ 20,338,219 $ 125,410,620 $ 21,414,328 December 31, 2022 Less than 12 months 12 months or more Total Description of investments Fair value Unrealized loss Fair value Unrealized loss Fair value Unrealized loss State and municipal $ 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

Note 4 - Loans and Allowance fo

Note 4 - Loans and Allowance for Credit Losses	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	4. Loans and allowance for credit losses Major categories of loans are as follows: March 31, December 31, 2023 2022 Real estate: Commercial $ 357,768,606 $ 351,794,702 Construction and land development 24,911,711 23,978,373 Residential 113,384,265 114,683,149 Commercial 29,876,303 31,066,497 Consumer 140,150 156,422 526,081,035 521,679,143 Less: Allowance for credit losses 4,589,232 4,150,198 Deferred origination fees net of costs 596,203 608,405 $ 520,895,600 $ 516,920,540 The following tables present the amortized cost basis of loans on nonaccrual status and loans past due over 89 March 31, 2023 December 31, 2022: Nonaccrual Loans Past With No Due 90 Days Allowance or More and for Credit Loss Nonaccrual Still Accruing March 31, 2023 Real estate: Commercial $ - $ 502,961 $ - Construction and land development - - - Residential - - - Commercial - 152,449 - Consumer - - - $ - $ 655,410 $ - December 31, 2022 Real estate: Commercial $ - $ 502,961 $ - Construction and land development - - - Residential - - - Commercial - 152,449 - Consumer - - - $ - $ 655,410 $ - The Company recognized no interest income on nonaccrual loans during the three March 31, 2023 December 31. 2022. At March 31, 2023, one one three March 31, 2023 At December 31, 2022, one one 2022 An age analysis of past due loans, segregated by type of loan, is as follows: 90 Days 30 - 59 Days 60 - 89 Days or More Total Total Past Due Past Due Past Due Past Due Current Loans March 31, 2023 Real estate: Commercial $ - $ - $ 502,961 $ 502,961 $ 357,265,645 $ 357,768,606 Construction and land development - - - - 24,911,711 24,911,711 Residential 312,897 - - 312,897 113,071,368 113,384,265 Commercial - - 152,449 152,449 29,723,854 29,876,303 Consumer - - - - 140,150 140,150 Total $ 312,897 $ - $ 655,410 $ 968,307 $ 525,112,728 $ 526,081,035 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 The following table presents the amortized cost basis of collateral-dependent loans by class of loans as of March 31, 2023: Real estate: Commercial $ 502,961 Construction and land development - Residential - Commercial 152,449 Consumer - $ 655,410 Impaired loans, segregated by class of loans with average recorded investment and interest recognized for the year ended December 31, 2022, 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 These were the disclosures under the incurred method as of December 31, 2022 From time to time, loans to borrowers experiencing financial difficulty may may There were no modifications to borrowers experiencing financial distress during the three March 31, 2023. Credit Quality Indicators 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, Acceptable, and Pass/Watch 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: Special Mention A special mention loan is a loan that management believes 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 a loan that management believes is inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Such loans have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not Borrowers may Doubtful A doubtful loan is a loan that management believes has all of the weaknesses inherent in a substandard loan with the added characteristic that the weaknesses, based on currently existing facts, conditions, and values, make collection or liquidation in full highly questionable and improbable. Loans by credit grade, segregated by loan type, and year originated are as follows: Term Loans Amortized Cost Basis by Origination March 31, 2023 Revolving 2023 2022 2021 2020 2019 Prior Loans Total Commercial Real Estate Pass $ 8,969,175 $ 74,007,568 $ 56,544,303 $ 20,357,085 $ 28,243,488 $ 153,922,978 $ 2,627,248 $ 344,671,845 Special Mention - - - - - 3,512,960 - 3,512,960 Substandard - - - - - 9,583,801 - 9,583,801 Doubtful - - - - - - - - Total $ 8,969,175 $ 74,007,568 $ 56,544,303 $ 20,357,085 $ 28,243,488 $ 167,019,739 $ 2,627,248 $ 357,768,606 Construction and Land Development Pass $ 328,076 $ 6,138,120 $ 4,518,090 $ 4,641,615 $ 428,050 $ 8,368,598 $ 489,162 $ 24,911,711 Special Mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total $ 328,076 $ 6,138,120 $ 4,518,090 $ 4,641,615 $ 428,050 $ 8,368,598 $ 489,162 $ 24,911,711 Residential Real Estate Pass $ 2,892,774 $ 20,094,724 $ 10,204,311 $ 8,805,836 $ 15,721,924 $ 45,455,511 $ 7,161,690 $ 110,336,770 Special Mention - - - - 1,385,519 - - 1,385,519 Substandard - - - - - 1,661,976 - 1,661,976 Doubtful - - - - - - - - Total $ 2,892,774 $ 20,094,724 $ 10,204,311 $ 8,805,836 $ 17,107,443 $ 47,117,487 $ 7,161,690 $ 113,384,265 Commercial Pass $ 862,177 $ 9,218,002 $ 4,751,596 $ 3,358,986 $ 1,465,317 $ 1,293,980 $ 8,199,107 $ 29,149,165 Special Mention - - 574,689 - - - - 574,689 Substandard - - - - 152,449 - - 152,449 Doubtful - - - - - - - - Total $ 862,177 $ 9,218,002 $ 5,326,285 $ 3,358,986 $ 1,617,766 $ 1,293,980 $ 8,199,107 $ 29,876,303 Consumer Pass $ 15,000 $ 50,701 $ 10,659 $ 16,506 $ 18,164 $ 2 $ - $ 111,032 Special Mention - - - - - - - - Substandard - - - - - - - - Doubtful - - 2,119 - - - 26,999 29,118 Total $ 15,000 $ 50,701 $ 12,778 $ 16,506 $ 18,164 $ 2 $ 26,999 $ 140,150 Aggregate total Pass $ 13,067,202 $ 109,509,115 $ 76,028,959 $ 37,180,028 $ 45,876,943 $ 209,041,069 $ 18,477,207 $ 509,180,523 Special Mention - - 574,689 - 1,385,519 3,512,960 - 5,473,168 Substandard - - - - 152,449 11,245,777 - 11,398,226 Doubtful - - 2,119 - - - 26,999 29,118 Total $ 13,067,202 $ 109,509,115 $ 76,605,767 $ 37,180,028 $ 47,414,911 $ 223,799,806 $ 18,504,206 $ 526,081,035 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 The following table details activity in the allowance for credit losses and loan balances by portfolio as of and for the three March 31, 2023 2022 December 31, 2022. one not Allowance for credit losses ending Outstanding loan balances Provision for balance evaluated for impairment: evaluated: Beginning Impact of ASC (recovery of) Charge Ending Purchase Credit Purchase Credit March 31, 2023 balance 326 Adoption credit losses offs Recoveries balance Individually Deteriorated Collectively Individually Deteriorated Collectively Real estate: Commercial $ 2,818,582 $ (350,838 ) $ 1,218 $ - $ - $ 2,468,962 $ 129,461 $ - $ 2,339,501 $ 502,961 $ - $ 357,265,645 Construction and land development 164,596 120,976 (401 ) - 4,050 289,221 - - 289,221 - 366,449 24,545,262 Residential 793,919 464,227 (369,453 ) - 371,048 1,259,741 - - 1,259,741 - 207,854 113,176,411 Commercial 337,303 135,200 (15,444 ) - - 457,059 152,449 - 304,610 152,449 - 29,723,854 Consumer 4,706 (4,537 ) 3,367 - - 3,536 - - 3,536 - - 140,150 Unallocated 31,092 (31,092 ) 110,713 - - 110,713 - - 110,713 - - - $ 4,150,198 $ 333,936 $ (270,000 ) $ - $ 375,098 $ 4,589,232 $ 281,910 $ - $ 4,307,322 $ 655,410 $ 574,303 $ 524,851,322 Allowance for loan losses ending Outstanding loan balances Provision for balance evaluated for impairment: evaluated for impairment: Beginning (recovery of) Charge Ending Purchase Credit Purchase Credit March 31, 2022 balance loan losses offs Recoveries balance Individually Impaired Collectively Individually Impaired Collectively Real estate: Commercial $ 2,482,930 $ 63,130 $ - $ - $ 2,546,060 $ 129,461 $ - $ 2,416,599 $ 6,781,030 $ 32,991 $ 322,365,691 Construction and land development 214,547 (97,873 ) - 4,050 120,724 - - 120,724 - 379,349 19,946,051 Residential 603,558 51,081 - - 654,639 - - 654,639 37,341 244,789 111,711,532 Commercial 255,413 12,276 - - 267,689 152,449 - 115,240 152,449 - 26,222,436 Consumer 4,370 (738 ) - - 3,632 - - 3,632 - - 296,151 Unallocated 89,450 (27,876 ) - - 61,574 - - 61,574 - - - $ 3,650,268 $ - $ - $ 4,050 $ 3,654,318 $ 281,910 $ - $ 3,372,408 $ 6,970,820 $ 657,129 $ 480,541,861 Allowance for loan losses ending Outstanding loan balances Provision for balance evaluated for impairment: evaluated for impairment: Beginning (recovery of) Charge Ending Purchase Credit Purchase Credit December 31, 2022 balance loan 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 The following table provides activity for the accretable credit discount of purchased loans: 2023 Balance at December 31, 2022 $ 930,973 Accretion 112,233 Balance at March 31, 2023 $ 818,740 At March 31, 2023, March 31, 2023, March 31, 2023, The following table details activity in the allowance for credit losses on unfunded loan commitments: March 31, 2023 Beginning balance $ - Impact of adopting ASC 326 85,073 Credit loss recovery (8,602 ) Ending balance $ 76,471

Note 5 - Goodwill and Other Int

Note 5 - Goodwill and Other Intangibles	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	5. Goodwill and Other Intangibles The acquisition of Carroll Bancorp, Inc. in October 2020 Goodwill CDI Total Balance at December 31, 2022 $ 6,978,208 $ 64,544 $ 7,042,752 Amortization - (2,082 ) (2,082 ) Balance at March 31, 2023 $ 6,978,208 $ 62,462 $ 7,040,670 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 6 - Capital Standards

Note 6 - Capital Standards	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Regulatory Capital Requirements under Banking Regulations [Text Block]	6. Capital Standards Farmers and Merchants Bancshares, Inc. and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possible additional, discretionary actions by the regulators that, if undertaken, could have a direct material effect on our financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, we must meet specific capital guidelines that involve quantitative measures of our assets, liabilities, and certain off‑balance sheet items as calculated under regulatory accounting practices. Our capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Quantitative measures established by the Basel III Capital Rules to ensure capital adequacy require the maintenance of minimum amounts and ratios (set forth in the table below) of Common Equity Tier 1 1 1 In connection with the adoption of the Basel III Capital Rules, the Bank elected to opt-out of the requirement to include accumulated other comprehensive income in Common Equity Tier 1 1 Insured depository institutions are required to meet the following in order to qualify as “well capitalized”: (i) a common equity Tier 1 6.5%; 1 8%; 10%; 1 5%. The implementation of the capital conservation buffer began on January 1, 2016 0.625% four January 1, 2.5% January 1, 2019 not March 31, 2023, The aforementioned capital conservation buffer is designed to absorb losses during periods of economic stress. Banking institutions with a ratio of Common Equity Tier 1 The following table presents actual and required capital ratios as of March 31, 2023 December 31, 2022 March 31, 2023 December 31, 2022 Minimum To Be Well (Dollars in thousands) Actual Capital Adequacy Capitalized March 31, 2023 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 77,752 13.13 % $ 62,181 10.50 % $ 59,220 10.00 % Tier 1 capital (to risk-weighted assets) 73,026 12.33 % 50,337 8.50 % 47,376 8.00 % Common equity tier 1 (to risk- weighted assets) 73,026 12.33 % 41,454 7.00 % 38,493 6.50 % Tier 1 leverage (to average assets) 73,026 9.97 % 29,311 4.00 % 36,639 5.00 % 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 % To be categorized as well capitalized, the Bank must maintain ratios as set forth in the table. As of March 31, 2023, no The FDIC, through formal or informal agreement, has the authority to require an institution to maintain higher capital ratios than those provided by statute, to be categorized as well capitalized under the regulatory framework for prompt corrective action.

Note 7 - Derivative Financial I

Note 7 - Derivative Financial Instrument	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	7. Derivative Financial Instrument The Company utilizes interest rate swap agreements as part of its asset liability management strategy to help manage its interest rate risk position. The notional amount of the interest rate swaps does not Fair Value Hedges: Interest rate swaps with notional amounts totaling $10 million as of March 31, 2023 no 2023. The following table presents the amounts recorded on the balance sheet related to cumulative basis adjustments for fair value hedges as of March 31, 2023: Line Item in the Carrying Amount Balance Sheet in of the Hedged Cumulative Amount of Fair Which the Hedged Assets Value Hedging Adjustment Item is Included March 31, 2023 March 31, 2023 Securities available for sale $ 22,146,372 $ 232,536 The Company presents derivative position gross on the balance sheet. The following table reflects the derivatives recorded on the balance sheet as of March 31, 2023: March 31, 2023 Fair Value Included in other liabilities: Derivatives designated as hedges: Interest rate swaps related to securities available for sale $ 198,424 Total included in other liabilities $ 198,424 The effect of fair value hedge accounting on the statement of income for the three March 31, 2023 Location and Amount of Gain or Loss Recognized in Income on Fair Value Hedging Relationships Three Months Ended March 31, 2023 Interest Income Total amounts of income and expense line items presented in the statement of income in which the effects of the fair value hedge is recorded The effects of fair value hedging: Gain on fair value hedging relationships: Hedged items $ 232,536 Interest rate contracts desigianted as hedging instruments (198,424 ) 34,112

Note 8 - Fair Value

Note 8 - Fair Value	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Fair Value Disclosures [Text Block]	8. Fair Value In accordance with ASC 820, no not may not The fair value guidance provides a consistent definition of fair value, which focuses on exit price in the principal or most advantageous market for the asset or liability in an orderly transaction (that is, not may In accordance with the guidance, a hierarchy of valuation techniques is based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. The three 820 two ● Level 1: ● Level 2: 1 not ● Level 3: The Company uses the following methods and significant assumptions to estimate the fair values of the following assets: ● Securities available for sale: The fair values of securities available for sale are determined by obtaining quoted prices from a nationally recognized securities pricing agent. If quoted market prices are not ● Equity security at fair value: The Company’s investment in an equity mutual fund is valued based on the net asset value of the fund, which is classified as Level 1. ● Other real estate owned (“OREO”): Nonrecurring fair value adjustments to OREO reflect full or partial write-downs that are based on the OREO’s observable market price or current appraised value of the real estate. Since the market for OREO is not 3. third ● Collateral-dependent loans: Nonrecurring fair value adjustments to collateral-dependent loans reflect full or partial write-downs and reserves that are based on the collateral-dependent loan’s observable market price or current appraised value of the collateral. Since the market for collateral-dependent loans is not 3. third The following table summarizes financial assets measured at fair value on a recurring and nonrecurring basis as of March 31, 2023 December 31, 2022, Carrying Value: Level 1 Level 2 Level 3 Total March 31, 2023 Recurring: Available for sale securities State and municipal $ - $ 486,848 $ - $ 486,848 SBA pools - 939,889 - 939,889 Corporate bonds - 9,419,723 - 9,419,723 Mortgage-backed securities - 114,975,607 - 114,975,607 $ - $ 125,822,067 $ - $ 125,822,067 Fair value hedge - $ 198,424 - $ 198,424 Equity security at fair value Mutual fund $ 497,812 $ - $ - $ 497,812 Nonrecurring: Other real estate owned, net $ - $ - $ 1,242,365 $ 1,242,365 Collateral-dependent loans, net $ - $ - $ 373,500 $ 373,500 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 Mutual fund $ 489,145 $ - $ - $ 489,145 Nonrecurring: Other real estate owned, net $ - $ - $ 1,242,365 $ 1,242,365 Collateral-dependent loans, net - - 373,500 373,500 The following table provides information describing the unobservable inputs used in level 3 March 31, 2023 December 31, 2022: March 31, 2023: Assets Fair Value Valuation Technique Unobservable Inputs Range (Average) Collateral-dependent loans $ 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 owned $ 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%) December 31, 2022: Assets Fair Value Valuation Techniques Unobservable Input Average Collateral-dependent loans $ 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 owned $ 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, 2022 fair value $ 400,000 Additions - Principal payments received - Transfer to level 2 (400,000 ) March 31, 2023 fair value $ - The transfer to level 2 third March 31, 2023. The estimated fair value of financial instruments that are reported at amortized cost in the Company’s consolidated balance sheets, segregated by the level of the valuation inputs were as follows: March 31, 2023 December 31, 2022 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets Level 1 inputs Cash and cash equivalents $ 9,566,354 $ 9,566,354 $ 7,263,537 $ 7,263,537 Level 2 inputs Certificates of deposit in other banks 100,000 100,000 100,000 100,000 Accrued interest receivable 1,739,314 1,739,314 1,815,784 1,815,784 Securities held to maturity 17,506,603 16,264,367 17,537,377 15,908,175 Mortgage loans held for sale - - 428,355 434,271 Restricted stock, at cost 907,500 907,500 1,332,500 1,332,500 Bank owned life insurance 14,668,447 14,668,447 14,585,342 14,585,342 Level 3 inputs Securities held to maturity 2,971,620 2,971,620 2,971,620 2,971,620 Loans, net 520,895,600 507,013,897 516,920,540 503,144,771 Financial liabilities Level 1 inputs Noninterest-bearing deposits $ 127,342,442 $ 127,342,442 $ 126,695,349 $ 126,695,349 Securities sold under repurchase agreements 3,077,227 3,077,227 5,175,303 5,175,303 Level 2 inputs Interest-bearing deposits 509,966,348 506,448,348 496,915,775 492,769,775 Federal Home Loan Bank advances 10,000,000 9,682,000 20,000,000 19,622,000 Long-term debt 14,624,826 13,797,069 15,095,642 14,241,237 Accrued interest payable 721,007 721,007 349,910 349,910 Fair value hedge 198,424 198,424 - -

Note 9 - Earnings Per Share

Note 9 - Earnings Per Share	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Earnings Per Share [Text Block]	9. Earnings per Share Basic earnings per share is determined by dividing net income available to stockholders by the weighted-average number of shares of common stock outstanding during the period and does not three March 31, 2023 2022. no three March 31, 2023 2022. Three Months Ended March 31, 2023 2022 Net income $ 1,900,851 $ 2,050,802 Weighted average shares outstanding 3,071,214 3,037,137 Earnings per share - basic and diluted $ 0.62 $ 0.68

Note 10 - Retirement Plans

Note 10 - Retirement Plans	3 Months Ended
	Mar. 31, 2023
Notes to Financial Statements
Retirement Benefits [Text Block]	10. Retirement Plans The Company has a profit sharing plan qualifying under Section 401 21 six may three March 31, 2023 2022, The Company has entered into agreements with 12 employees to provide certain life insurance benefits payable in connection with policies of life insurance on those employees that are owned by the Company. Each of the agreements provides for the amount of death insurance benefits to be paid to beneficiaries of the insured. For this plan, the Company expensed $1,834 and $1,702 for the three March 31, 2023 2022, 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. One of the executives who was fully vested retired in December 31, 2022 2023.The three March 31, 2023 2022, Retirement plan expenses are included in employee benefits on the consolidated statements of income.

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements Management has the responsibility for the selection and use of appropriate accounting policies. The significant accounting policies used by the Company are described in the notes to the consolidated financial statements. The following accounting guidance has been approved by the FASB and would apply to the Company if the Company entered into an applicable activity. In March 2020, 2020 04, 848 2020 04 March 12, 2020 December 31, 2022. March 31, 2023, 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. As of March 31, 2023, Recently Adopted Accounting Developments During June 2016, 2016 13, 326 2016 13 January 1, 2023. The Company is utilizing a third 326, not may In March 2022, 2022 02, 326 2022 02 2016 13 2022 02 January 1, 2023. In March 2022, No. 2022 01, 815 2022 01 815 2017, 2017 12 one not 2022 01 2022 01 January 1, 2023. February 2023 March 31, 2023, no Summary of Significant Accounting Policies Allowance for Credit Losses. As further discussed below, we adopted ASU 2016 13, 326 January 1, 2020. 326 326” 326, Allowance for Credit Losses - Held-to-Maturity Securities: The allowance for credit losses on held-to-maturity securities is a contra-asset valuation account, calculated in accordance with ASC 326, 3 Allowance For Credit Losses - Available-for-Sale Securities: For available-for-sale securities in an unrealized loss position, we first not not 2016 13, January 1, 2023, Allowance for Credit Losses - Loans: The allowance for credit losses on loans is a contra-asset valuation account, calculated in accordance with ASC 326, not The amount of the allowance represents management's best estimate of current expected credit losses on loans considering available information, from internal and external sources, relevant to assessing collectability over the loans' contractual terms, adjusted for expected prepayments when appropriate. The contractual term excludes expected extensions, renewals and modifications unless (i) management has a reasonable expectation that a loan to an individual borrower that is experiencing financial difficulty will be modified or (ii) such extension or renewal options are not may not not Credit loss expense related to loans reflects the totality of actions taken on all loans for a particular period including any necessary increases or decreases in the allowance related to changes in credit loss expectations associated with specific loans or pools of loans. Portions of the allowance may In calculating the allowance for credit losses, most loans are segmented into pools based upon similar characteristics and risk profiles. Common characteristics and risk profiles include the type/purpose of loan, underlying collateral, and historical/expected credit loss patterns. For modeling purposes, our loan pools include (i) commercial real estate - owner occupied, (ii) commercial real estate - non-owner occupied, (iii) construction/land development, (iv) residential – multifamily, (v) residential – single family (vi) residential – single family home equity, (vii) commercial and industrial (viii) consumer and other. We periodically reassess each pool to ensure the loans within the pool continue to share similar characteristics and risk profiles and to determine whether further segmentation is necessary. The average charge-off method calculates an estimate of losses based upon past experience which is applied prospectively across the life of each loan. This method allows for analysis and calculation on a note-by-note basis due to the CECL model calculating future cash flows at the individual note level based upon note characteristics. A forward balance is calculated from each note’s prior period balance, less monthly principal paydown and prepayment amount. The Company will be utilizing its own loss data as the source for its historical loss calculations within the CECL model, where appropriate. This information is sourced from call report data and spans back to an effective start date of March 31, 2000. one may may no March 31, 2000 The measurement of expected credit losses is impacted by loan/borrower attributes and certain macroeconomic variables. Significant loan/borrower attributes utilized in our modeling processes include, among other things, (i) origination date, (ii) maturity date, (iii) payment type, (iv) collateral type and amount, (v) current risk grade, (vi) current unpaid balance and commitment utilization rate, (vii) payment status/delinquency history and (viii) expected recoveries of previously charged-off amounts. Management qualitatively adjusts model results for risk factors that are not may may In some cases, management may Allowance for Credit Losses - Off-Balance-Sheet Credit Exposures: The allowance for credit losses on off-balance-sheet credit exposures is a liability account, calculated in accordance with ASC 326, No The table below provides the impact of the implementation of ASC 326: January 1, 2023 As Reported Under ASC 326 Pre-ASC 326 Adoption Impact of ASC 326 Adoption Assets: Allowance for credit losses on debt securities held to maturity $ 51,990 $ - $ 51,990 Loans Real estate: Commercial 2,467,744 2,818,582 (350,838 ) Construction and land development 285,572 164,596 120,976 Residential 1,258,146 793,919 464,227 Commercial 472,503 337,303 135,200 Consumer 169 4,706 (4,537 ) Unallocated - 31,092 (31,092 ) Allowance for credit losses on loans 4,484,134 4,150,198 333,936 Liabilities Allowance for credit losses on off balance sheet credit exposures 85,073 - 85,073 Derivative Financial Instruments: At the inception of a derivative contract, the Company designates the derivative as one three three 1 2 3 no not not Accrued settlements on derivatives that qualify for hedge accounting are recorded in interest income or interest expense, based on the item being hedged. Accrued settlements on derivatives not not The Company formally documents the relationship between derivatives and hedged items, as well as the risk-management objective and the strategy for undertaking hedge transactions at the inception of the hedging relationship. This documentation includes linking fair value or cash flow hedges to specific assets and liabilities on the balance sheet or to specific firm commitments or forecasted transactions. The Company also formally assesses, both at the hedge’s inception and on an ongoing basis, whether the derivative instruments that are used are highly effective in offsetting changes in fair values or cash flows of the hedged items. The Company discontinues hedge accounting when it determines that the derivative is no no no no When hedge accounting is discontinued, subsequent changes in fair value of the derivative are recorded as non-interest income. When a fair value hedge is discontinued, the hedged asset or liability is no The Company is exposed to losses if a counterparty fails to make its payments under a contract in which the Company is in the net receiving position. The Company anticipates that the counterparties will be able to fully satisfy their obligations under the agreements. All the contracts to which the Company is a party settle monthly or quarterly. In addition, the Company obtains collateral above certain thresholds of the fair value of its derivatives for each counterparty based upon their credit standing and the Company has netting agreements with the dealers with which it does business. The Company’s derivative financial instruments are described more fully in Note 7. The accounting policies adopted by management are consistent with authoritative GAAP and are consistent with those followed by our peers.

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Accounting Standards Update and Change in Accounting Principle [Table Text Block]	January 1, 2023 As Reported Under ASC 326 Pre-ASC 326 Adoption Impact of ASC 326 Adoption Assets: Allowance for credit losses on debt securities held to maturity $ 51,990 $ - $ 51,990 Loans Real estate: Commercial 2,467,744 2,818,582 (350,838 ) Construction and land development 285,572 164,596 120,976 Residential 1,258,146 793,919 464,227 Commercial 472,503 337,303 135,200 Consumer 169 4,706 (4,537 ) Unallocated - 31,092 (31,092 ) Allowance for credit losses on loans 4,484,134 4,150,198 333,936 Liabilities Allowance for credit losses on off balance sheet credit exposures 85,073 - 85,073

Note 3 - Investment Securities

Note 3 - Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Marketable Securities [Table Text Block]	Amortized Unrealized Unrealized Fair Allowance for Net Carrying March 31, 2023 cost gains losses value Credit Losses Amount Available for sale State and municipal $ 500,000 $ 15 $ 13,167 $ 486,848 $ - $ 486,848 SBA pools 952,033 1,556 13,700 939,889 - 939,889 Corporate bonds 10,398,704 - 978,981 9,419,723 - 9,419,723 Mortgage-backed securities 135,384,087 - 20,408,480 114,975,607 - 114,975,607 $ 147,234,824 $ 1,571 $ 21,414,328 $ 125,822,067 $ - $ 125,822,067 Held to maturity State and municipal $ 20,538,815 $ 14,857 $ 1,317,685 $ 19,235,987 $ 60,592 $ 20,478,223 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
Debt Securities, Held-to-Maturity, Credit Quality Indicator [Table Text Block]	March 31, 2023 AAA 2,774,579 AA 10,371,643 A 4,126,007 BAA 246,355 Not rated 3,020,231 Total 20,538,815
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Table Text Block]	March 31, 2023 Beginning balance $ - Impact of adopting ASC 326 51,990 Credit loss expense 8,602 Ending balance $ 60,592
Investments Classified by Contractual Maturity Date [Table Text Block]	Available for Sale Held to Maturity Amortized Fair Amortized Fair March 31, 2023 cost value cost value Within one year $ 1,014,934 $ 985,535 $ 330,000 $ 330,198 Over one to five years 2,561,931 2,427,580 476,355 473,747 Over five to ten years 7,321,839 6,493,456 3,493,376 3,423,349 Over ten years - - 16,178,492 15,008,693 10,898,704 9,906,571 20,478,223 19,235,987 Mortgage-backed securities and SBA pools, due in monthly installments 136,336,120 115,915,496 - - $ 147,234,824 $ 125,822,067 $ 20,478,223 $ 19,235,987
Schedule of Unrealized Loss on Investments [Table Text Block]	March 31, 2023 Less than 12 months 12 months or more Total Description of investments Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss State and municipal $ - $ - $ 236,833 $ 13,167 $ 236,833 $ 13,167 SBA pools - - 778,455 13,700 778,455 13,700 Corporate bonds 1,776,149 130,322 7,643,574 848,659 9,419,723 978,981 Mortgage-backed securities 14,930,119 945,787 100,045,490 19,462,693 114,975,609 20,408,480 Total $ 16,706,268 $ 1,076,109 $ 108,704,352 $ 20,338,219 $ 125,410,620 $ 21,414,328 December 31, 2022 Less than 12 months 12 months or more Total Description of investments Fair value Unrealized loss Fair value Unrealized loss Fair value Unrealized loss State and municipal $ 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

Note 4 - Loans and Allowance _2

Note 4 - Loans and Allowance for Credit Losses (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	March 31, December 31, 2023 2022 Real estate: Commercial $ 357,768,606 $ 351,794,702 Construction and land development 24,911,711 23,978,373 Residential 113,384,265 114,683,149 Commercial 29,876,303 31,066,497 Consumer 140,150 156,422 526,081,035 521,679,143 Less: Allowance for credit losses 4,589,232 4,150,198 Deferred origination fees net of costs 596,203 608,405 $ 520,895,600 $ 516,920,540
Financing Receivable, Nonaccrual [Table Text Block]	Nonaccrual Loans Past With No Due 90 Days Allowance or More and for Credit Loss Nonaccrual Still Accruing March 31, 2023 Real estate: Commercial $ - $ 502,961 $ - Construction and land development - - - Residential - - - Commercial - 152,449 - Consumer - - - $ - $ 655,410 $ - December 31, 2022 Real estate: Commercial $ - $ 502,961 $ - Construction and land development - - - Residential - - - Commercial - 152,449 - Consumer - - - $ - $ 655,410 $ -
Financing Receivable, Past Due [Table Text Block]	90 Days 30 - 59 Days 60 - 89 Days or More Total Total Past Due Past Due Past Due Past Due Current Loans March 31, 2023 Real estate: Commercial $ - $ - $ 502,961 $ 502,961 $ 357,265,645 $ 357,768,606 Construction and land development - - - - 24,911,711 24,911,711 Residential 312,897 - - 312,897 113,071,368 113,384,265 Commercial - - 152,449 152,449 29,723,854 29,876,303 Consumer - - - - 140,150 140,150 Total $ 312,897 $ - $ 655,410 $ 968,307 $ 525,112,728 $ 526,081,035 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
Collateral Dependent Loans [Table Text Block]	Real estate: Commercial $ 502,961 Construction and land development - Residential - Commercial 152,449 Consumer - $ 655,410
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
Financing Receivable Credit Quality Indicators [Table Text Block]	Term Loans Amortized Cost Basis by Origination March 31, 2023 Revolving 2023 2022 2021 2020 2019 Prior Loans Total Commercial Real Estate Pass $ 8,969,175 $ 74,007,568 $ 56,544,303 $ 20,357,085 $ 28,243,488 $ 153,922,978 $ 2,627,248 $ 344,671,845 Special Mention - - - - - 3,512,960 - 3,512,960 Substandard - - - - - 9,583,801 - 9,583,801 Doubtful - - - - - - - - Total $ 8,969,175 $ 74,007,568 $ 56,544,303 $ 20,357,085 $ 28,243,488 $ 167,019,739 $ 2,627,248 $ 357,768,606 Construction and Land Development Pass $ 328,076 $ 6,138,120 $ 4,518,090 $ 4,641,615 $ 428,050 $ 8,368,598 $ 489,162 $ 24,911,711 Special Mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total $ 328,076 $ 6,138,120 $ 4,518,090 $ 4,641,615 $ 428,050 $ 8,368,598 $ 489,162 $ 24,911,711 Residential Real Estate Pass $ 2,892,774 $ 20,094,724 $ 10,204,311 $ 8,805,836 $ 15,721,924 $ 45,455,511 $ 7,161,690 $ 110,336,770 Special Mention - - - - 1,385,519 - - 1,385,519 Substandard - - - - - 1,661,976 - 1,661,976 Doubtful - - - - - - - - Total $ 2,892,774 $ 20,094,724 $ 10,204,311 $ 8,805,836 $ 17,107,443 $ 47,117,487 $ 7,161,690 $ 113,384,265 Commercial Pass $ 862,177 $ 9,218,002 $ 4,751,596 $ 3,358,986 $ 1,465,317 $ 1,293,980 $ 8,199,107 $ 29,149,165 Special Mention - - 574,689 - - - - 574,689 Substandard - - - - 152,449 - - 152,449 Doubtful - - - - - - - - Total $ 862,177 $ 9,218,002 $ 5,326,285 $ 3,358,986 $ 1,617,766 $ 1,293,980 $ 8,199,107 $ 29,876,303 Consumer Pass $ 15,000 $ 50,701 $ 10,659 $ 16,506 $ 18,164 $ 2 $ - $ 111,032 Special Mention - - - - - - - - Substandard - - - - - - - - Doubtful - - 2,119 - - - 26,999 29,118 Total $ 15,000 $ 50,701 $ 12,778 $ 16,506 $ 18,164 $ 2 $ 26,999 $ 140,150 Aggregate total Pass $ 13,067,202 $ 109,509,115 $ 76,028,959 $ 37,180,028 $ 45,876,943 $ 209,041,069 $ 18,477,207 $ 509,180,523 Special Mention - - 574,689 - 1,385,519 3,512,960 - 5,473,168 Substandard - - - - 152,449 11,245,777 - 11,398,226 Doubtful - - 2,119 - - - 26,999 29,118 Total $ 13,067,202 $ 109,509,115 $ 76,605,767 $ 37,180,028 $ 47,414,911 $ 223,799,806 $ 18,504,206 $ 526,081,035 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
Financing Receivable, Allowance for Credit Loss [Table Text Block]	Allowance for credit losses ending Outstanding loan balances Provision for balance evaluated for impairment: evaluated: Beginning Impact of ASC (recovery of) Charge Ending Purchase Credit Purchase Credit March 31, 2023 balance 326 Adoption credit losses offs Recoveries balance Individually Deteriorated Collectively Individually Deteriorated Collectively Real estate: Commercial $ 2,818,582 $ (350,838 ) $ 1,218 $ - $ - $ 2,468,962 $ 129,461 $ - $ 2,339,501 $ 502,961 $ - $ 357,265,645 Construction and land development 164,596 120,976 (401 ) - 4,050 289,221 - - 289,221 - 366,449 24,545,262 Residential 793,919 464,227 (369,453 ) - 371,048 1,259,741 - - 1,259,741 - 207,854 113,176,411 Commercial 337,303 135,200 (15,444 ) - - 457,059 152,449 - 304,610 152,449 - 29,723,854 Consumer 4,706 (4,537 ) 3,367 - - 3,536 - - 3,536 - - 140,150 Unallocated 31,092 (31,092 ) 110,713 - - 110,713 - - 110,713 - - - $ 4,150,198 $ 333,936 $ (270,000 ) $ - $ 375,098 $ 4,589,232 $ 281,910 $ - $ 4,307,322 $ 655,410 $ 574,303 $ 524,851,322 Allowance for loan losses ending Outstanding loan balances Provision for balance evaluated for impairment: evaluated for impairment: Beginning (recovery of) Charge Ending Purchase Credit Purchase Credit March 31, 2022 balance loan losses offs Recoveries balance Individually Impaired Collectively Individually Impaired Collectively Real estate: Commercial $ 2,482,930 $ 63,130 $ - $ - $ 2,546,060 $ 129,461 $ - $ 2,416,599 $ 6,781,030 $ 32,991 $ 322,365,691 Construction and land development 214,547 (97,873 ) - 4,050 120,724 - - 120,724 - 379,349 19,946,051 Residential 603,558 51,081 - - 654,639 - - 654,639 37,341 244,789 111,711,532 Commercial 255,413 12,276 - - 267,689 152,449 - 115,240 152,449 - 26,222,436 Consumer 4,370 (738 ) - - 3,632 - - 3,632 - - 296,151 Unallocated 89,450 (27,876 ) - - 61,574 - - 61,574 - - - $ 3,650,268 $ - $ - $ 4,050 $ 3,654,318 $ 281,910 $ - $ 3,372,408 $ 6,970,820 $ 657,129 $ 480,541,861 Allowance for loan losses ending Outstanding loan balances Provision for balance evaluated for impairment: evaluated for impairment: Beginning (recovery of) Charge Ending Purchase Credit Purchase Credit December 31, 2022 balance loan 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 March 31, 2023 Beginning balance $ - Impact of adopting ASC 326 85,073 Credit loss recovery (8,602 ) Ending balance $ 76,471
Accretable Yield of Purchased Loans [Table Text Block]	2023 Balance at December 31, 2022 $ 930,973 Accretion 112,233 Balance at March 31, 2023 $ 818,740

Note 5 - Goodwill and Other I_2

Note 5 - Goodwill and Other Intangibles (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Intangible Assets and Goodwill [Table Text Block]	Goodwill CDI Total Balance at December 31, 2022 $ 6,978,208 $ 64,544 $ 7,042,752 Amortization - (2,082 ) (2,082 ) Balance at March 31, 2023 $ 6,978,208 $ 62,462 $ 7,040,670

Note 6 - Capital Standards (Tab

Note 6 - Capital Standards (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block]	Minimum To Be Well (Dollars in thousands) Actual Capital Adequacy Capitalized March 31, 2023 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 77,752 13.13 % $ 62,181 10.50 % $ 59,220 10.00 % Tier 1 capital (to risk-weighted assets) 73,026 12.33 % 50,337 8.50 % 47,376 8.00 % Common equity tier 1 (to risk- weighted assets) 73,026 12.33 % 41,454 7.00 % 38,493 6.50 % Tier 1 leverage (to average assets) 73,026 9.97 % 29,311 4.00 % 36,639 5.00 % 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 %

Note 7 - Derivative Financial_2

Note 7 - Derivative Financial Instrument (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	Line Item in the Carrying Amount Balance Sheet in of the Hedged Cumulative Amount of Fair Which the Hedged Assets Value Hedging Adjustment Item is Included March 31, 2023 March 31, 2023 Securities available for sale $ 22,146,372 $ 232,536 March 31, 2023 Fair Value Included in other liabilities: Derivatives designated as hedges: Interest rate swaps related to securities available for sale $ 198,424 Total included in other liabilities $ 198,424
Derivative Instruments, Gain (Loss) [Table Text Block]	Location and Amount of Gain or Loss Recognized in Income on Fair Value Hedging Relationships Three Months Ended March 31, 2023 Interest Income Total amounts of income and expense line items presented in the statement of income in which the effects of the fair value hedge is recorded The effects of fair value hedging: Gain on fair value hedging relationships: Hedged items $ 232,536 Interest rate contracts desigianted as hedging instruments (198,424 ) 34,112

Note 8 - Fair Value (Tables)

Note 8 - Fair Value (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	Carrying Value: Level 1 Level 2 Level 3 Total March 31, 2023 Recurring: Available for sale securities State and municipal $ - $ 486,848 $ - $ 486,848 SBA pools - 939,889 - 939,889 Corporate bonds - 9,419,723 - 9,419,723 Mortgage-backed securities - 114,975,607 - 114,975,607 $ - $ 125,822,067 $ - $ 125,822,067 Fair value hedge - $ 198,424 - $ 198,424 Equity security at fair value Mutual fund $ 497,812 $ - $ - $ 497,812 Nonrecurring: Other real estate owned, net $ - $ - $ 1,242,365 $ 1,242,365 Collateral-dependent loans, net $ - $ - $ 373,500 $ 373,500 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 Mutual fund $ 489,145 $ - $ - $ 489,145 Nonrecurring: Other real estate owned, net $ - $ - $ 1,242,365 $ 1,242,365 Collateral-dependent loans, net - - 373,500 373,500
Fair Value Measurements, Nonrecurring [Table Text Block]	March 31, 2023: Assets Fair Value Valuation Technique Unobservable Inputs Range (Average) Collateral-dependent loans $ 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 owned $ 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%) December 31, 2022: Assets Fair Value Valuation Techniques Unobservable Input Average Collateral-dependent loans $ 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 owned $ 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, 2022 fair value $ 400,000 Additions - Principal payments received - Transfer to level 2 (400,000 ) March 31, 2023 fair value $ -
Fair Value, by Balance Sheet Grouping [Table Text Block]	March 31, 2023 December 31, 2022 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets Level 1 inputs Cash and cash equivalents $ 9,566,354 $ 9,566,354 $ 7,263,537 $ 7,263,537 Level 2 inputs Certificates of deposit in other banks 100,000 100,000 100,000 100,000 Accrued interest receivable 1,739,314 1,739,314 1,815,784 1,815,784 Securities held to maturity 17,506,603 16,264,367 17,537,377 15,908,175 Mortgage loans held for sale - - 428,355 434,271 Restricted stock, at cost 907,500 907,500 1,332,500 1,332,500 Bank owned life insurance 14,668,447 14,668,447 14,585,342 14,585,342 Level 3 inputs Securities held to maturity 2,971,620 2,971,620 2,971,620 2,971,620 Loans, net 520,895,600 507,013,897 516,920,540 503,144,771 Financial liabilities Level 1 inputs Noninterest-bearing deposits $ 127,342,442 $ 127,342,442 $ 126,695,349 $ 126,695,349 Securities sold under repurchase agreements 3,077,227 3,077,227 5,175,303 5,175,303 Level 2 inputs Interest-bearing deposits 509,966,348 506,448,348 496,915,775 492,769,775 Federal Home Loan Bank advances 10,000,000 9,682,000 20,000,000 19,622,000 Long-term debt 14,624,826 13,797,069 15,095,642 14,241,237 Accrued interest payable 721,007 721,007 349,910 349,910 Fair value hedge 198,424 198,424 - -

Note 9 - Earnings Per Share (Ta

Note 9 - Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, 2023 2022 Net income $ 1,900,851 $ 2,050,802 Weighted average shares outstanding 3,071,214 3,037,137 Earnings per share - basic and diluted $ 0.62 $ 0.68

Note 1 - Principles of Consol_2

Note 1 - Principles of Consolidation (Details Textual)	3 Months Ended
	Mar. 31, 2023
First Community Bankers Insurance Co., LLC [Member]
Percentage of Ownership	100%

Note 2 - Basis of Presentatio_2

Note 2 - Basis of Presentation (Details Textual) - USD ($)	Mar. 31, 2023	Feb. 28, 2023	Jan. 01, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Equity, Attributable to Parent	$ 50,757,141			$ 47,774,963	$ 52,206,487	$ 56,621,458
Fair Value Hedging [Member] | Interest Rate Swap [Member]
Derivative, Notional Amount	$ 10,000,000	$ 10,000,000
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Allowance for Credit Loss, Including Loans, Securities and Unfunded Loan Commitments			$ 470,999
Equity, Attributable to Parent			$ 341,392	$ (341,392)

Note 2 - Basis of Presentatio_3

Note 2 - Basis of Presentation - Impact of Implementation of ASC 326 (Details) - USD ($)	Mar. 31, 2023	Jan. 01, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Held-to-Maturity, Allowance for Credit Loss	$ 60,592	$ 0	$ 0
Loans, allowance for credit loss	4,589,232	4,150,198	4,150,198	$ 3,654,318	$ 3,650,268
Allowance for credit losses on off balance sheet credit exposures	76,471	0	0
Commercial Real Estate Portfolio Segment [Member]
Loans, allowance for credit loss	2,468,962	2,818,582	2,818,582	2,546,060	2,482,930
Construction and Land Development [Member]
Loans, allowance for credit loss	289,221	164,596	164,596	120,724	214,547
Residential Portfolio Segment [Member]
Loans, allowance for credit loss	1,259,741	793,919	793,919	654,639	603,558
Commercial Portfolio Segment [Member]
Loans, allowance for credit loss	457,059	337,303	337,303	267,689	255,413
Consumer Portfolio Segment [Member]
Loans, allowance for credit loss	3,536	4,706	4,706	3,632	4,370
Unallocated Financing Receivables [Member]
Loans, allowance for credit loss	$ 110,713	31,092	31,092	$ 61,574	$ 89,450
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Accounting Standards Update 2016-13 [Member]
Held-to-Maturity, Allowance for Credit Loss		51,990
Loans, allowance for credit loss		4,484,134
Allowance for credit losses on off balance sheet credit exposures		85,073
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Accounting Standards Update 2016-13 [Member] | Commercial Real Estate Portfolio Segment [Member]
Loans, allowance for credit loss		2,467,744
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Accounting Standards Update 2016-13 [Member] | Construction and Land Development [Member]
Loans, allowance for credit loss		285,572
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Accounting Standards Update 2016-13 [Member] | Residential Portfolio Segment [Member]
Loans, allowance for credit loss		1,258,146
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Accounting Standards Update 2016-13 [Member] | Commercial Portfolio Segment [Member]
Loans, allowance for credit loss		472,503
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Accounting Standards Update 2016-13 [Member] | Consumer Portfolio Segment [Member]
Loans, allowance for credit loss		169
Cumulative Effect, Period of Adoption, Adjusted Balance [Member] | Accounting Standards Update 2016-13 [Member] | Unallocated Financing Receivables [Member]
Loans, allowance for credit loss		0
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member]
Held-to-Maturity, Allowance for Credit Loss		51,990	51,990
Loans, allowance for credit loss		333,936	333,936
Allowance for credit losses on off balance sheet credit exposures		85,073	85,073
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Commercial Real Estate Portfolio Segment [Member]
Loans, allowance for credit loss		(350,838)	(350,838)
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Construction and Land Development [Member]
Loans, allowance for credit loss		120,976	120,976
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Residential Portfolio Segment [Member]
Loans, allowance for credit loss		464,227	464,227
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Commercial Portfolio Segment [Member]
Loans, allowance for credit loss		135,200	135,200
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Consumer Portfolio Segment [Member]
Loans, allowance for credit loss		(4,537)	(4,537)
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member] | Unallocated Financing Receivables [Member]
Loans, allowance for credit loss		$ (31,092)	$ (31,092)

Note 3 - Investment Securitie_2

Note 3 - Investment Securities (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale	$ 2,615,824	$ 6,232,740
Securities Called at a Premium [Member]
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale	0	$ 0
Asset Pledged as Collateral [Member] | Government Deposits and Securities Sold Under Repurchase Agreement [Member]
Debt Securities	$ 24,184,578		$ 24,258,980

Note 3 - Investment Securitie_3

Note 3 - Investment Securities - Investments in Debt Securities (Details) - USD ($)	Mar. 31, 2023	Jan. 01, 2023	Dec. 31, 2022
Amortized cost, available for sale	$ 147,234,824		$ 149,914,393
Unrealized gains, available for sale	1,571		1,425
Unrealized losses, available for sale	21,414,328		23,601,369
Fair value, available for sale	125,822,067		126,314,449
AFS, allowance for credit loss	0
AFS, net	125,822,067
Held To Maturity Securities	20,478,223
Fair value, held to maturity	19,235,987
HTM, allowance for credit loss	60,592	$ 0	0
HTM, net	20,478,223		20,508,997
US States and Political Subdivisions Debt Securities [Member]
Amortized cost, available for sale	500,000		570,122
Unrealized gains, available for sale	15		0
Unrealized losses, available for sale	13,167		17,841
Fair value, available for sale	486,848		552,281
AFS, allowance for credit loss	0
AFS, net	486,848
Held To Maturity Securities	20,538,815		20,508,997
Unrealized gains, held to maturity	14,857		4,176
Unrealized losses, held to maturity	1,317,685		1,633,378
Fair value, held to maturity	19,235,987		18,879,795
HTM, allowance for credit loss	60,592
HTM, net	20,478,223
SBA Pools [Member]
Amortized cost, available for sale	952,033		1,033,606
Unrealized gains, available for sale	1,556		1,425
Unrealized losses, available for sale	13,700		15,234
Fair value, available for sale	939,889		1,019,797
AFS, allowance for credit loss	0
AFS, net	939,889
Corporate Debt Securities [Member]
Amortized cost, available for sale	10,398,704		10,414,146
Unrealized gains, available for sale	0		0
Unrealized losses, available for sale	978,981		1,024,250
Fair value, available for sale	9,419,723		9,389,896
AFS, allowance for credit loss	0
AFS, net	9,419,723
Collateralized Mortgage-Backed Securities [Member]
Amortized cost, available for sale	135,384,087		137,896,519
Unrealized gains, available for sale	0		0
Unrealized losses, available for sale	20,408,480		22,544,044
Fair value, available for sale	114,975,607		$ 115,352,475
AFS, allowance for credit loss	0
AFS, net	$ 114,975,607

Note 3 - Investment Securitie_4

Note 3 - Investment Securities - Rating for Held to Maturity Securities (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Held To Maturity Securities	$ 20,478,223
US States and Political Subdivisions Debt Securities [Member]
Held To Maturity Securities	20,538,815	$ 20,508,997
Standard & Poor's, AAA Rating [Member] | US States and Political Subdivisions Debt Securities [Member]
Held To Maturity Securities	2,774,579
Standard & Poor's, AA Rating [Member] | US States and Political Subdivisions Debt Securities [Member]
Held To Maturity Securities	10,371,643
Standard & Poor's, A Rating [Member] | US States and Political Subdivisions Debt Securities [Member]
Held To Maturity Securities	4,126,007
Standard & Poor's, BAA Rating [Member] | US States and Political Subdivisions Debt Securities [Member]
Held To Maturity Securities	246,355
Not Rated [Member] | US States and Political Subdivisions Debt Securities [Member]
Held To Maturity Securities	$ 3,020,231

Note 3 - Investment Securitie_5

Note 3 - Investment Securities - Allowance for Credit Loss on Held to Maturity Securities (Details)	3 Months Ended
	Mar. 31, 2023 USD ($)
Beginning balance	$ 0
Credit loss expense	8,602
Ending balance	60,592
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Beginning balance	$ 51,990

Note 3 - Investment Securitie_6

Note 3 - Investment Securities - Contractual Maturities (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Available for Sale Amortized cost, Within one year	$ 1,014,934
Available for Sale Fair value, Within one year	985,535
Held to Maturity Amortized cost, Within one year	330,000
Held to Maturity Fair value, Within one year	330,198
Available for Sale Amortized cost, Over one to five years	2,561,931
Available for Sale Fair value, Over one to five years	2,427,580
Held to Maturity Amortized cost, Over one to five years	476,355
Held to Maturity Fair value, Over one to five years	473,747
Available for Sale Amortized cost, Fair value, Over one to five years	7,321,839
Available for Sale Fair value, Over five to ten years	6,493,456
Held to Maturity Amortized cost, Over five to ten years	3,493,376
Held to Maturity Fair value, Over five to ten years	3,423,349
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	16,178,492
Held to Maturity Fair value, Over ten years	15,008,693
Available for Sale Amortized cost, total maturity	10,898,704
Available for Sale Fair value, total maturity	9,906,571
Held to Maturity Amortized cost, total maturity	20,478,223
Held to Maturity Fair value, total maturity	19,235,987
Available for Sale Amortized cost, due in monthly installments	136,336,120
Available for Sale Fair value, due in monthly installments	115,915,496
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	147,234,824	$ 149,914,393
Available for Sale Fair value Total	125,822,067	$ 126,314,449
Held to Maturity Amortized cost Total	20,478,223
Held to Maturity Fair value Total	$ 19,235,987

Note 3 - Investment Securitie_7

Note 3 - Investment Securities - Gross Unrealized Losses on Continuous Basis for Investment Securities (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Less than 12 months Fair value	$ 16,706,268	$ 43,137,981
Less than 12 months Unrealized losses	1,076,109	3,707,309
12 months or more Fair value	108,704,352	97,268,040
12 months or more Unrealized losses	20,338,219	21,527,438
Total Fair value	125,410,620	140,406,021
Total Unrealized losses	21,414,328	25,234,747
US States and Political Subdivisions Debt Securities [Member]
Less than 12 months Fair value	0	13,668,676
Less than 12 months Unrealized losses	0	1,057,412
12 months or more Fair value	236,833	1,537,715
12 months or more Unrealized losses	13,167	593,807
Total Fair value	236,833	15,206,391
Total Unrealized losses	13,167	1,651,219
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	778,455	857,259
12 months or more Unrealized losses	13,700	15,234
Total Fair value	778,455	857,259
Total Unrealized losses	13,700	15,234
Corporate Debt Securities [Member]
Less than 12 months Fair value	1,776,149	4,184,875
Less than 12 months Unrealized losses	130,322	356,746
12 months or more Fair value	7,643,574	4,805,021
12 months or more Unrealized losses	848,659	667,504
Total Fair value	9,419,723	8,989,896
Total Unrealized losses	978,981	1,024,250
Collateralized Mortgage-Backed Securities [Member]
Less than 12 months Fair value	14,930,119	25,284,430
Less than 12 months Unrealized losses	945,787	2,293,151
12 months or more Fair value	100,045,490	90,068,045
12 months or more Unrealized losses	19,462,693	20,250,893
Total Fair value	114,975,609	115,352,475
Total Unrealized losses	$ 20,408,480	$ 22,544,044

Note 4 - Loans and Allowance _3

Note 4 - Loans and Allowance for Credit Losses (Details Textual)	3 Months Ended	12 Months Ended
	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Financing Receivable, Nonaccrual, Interest Income	$ 0	$ 0
Financing Receivable, Nonaccrual	$ 655,410	655,410
Impaired Financing Receivable, Related Allowance		281,910
Financing Receivable, Modifications, Number of Contracts	0
Loans Acquired, Nonaccretable Difference	$ 233,411
Loans Acquired, Accretable Yield	772,817
Loans Acquired, Outstanding Balance	84,517,255
Loans Acquired, Carrying Amount, Net	84,237,921
Nonaccrual Loans [Member]
Impaired Financing Receivable, Related Allowance	281,910	281,910
Nonperforming Financial Instruments [Member]
Financing Receivable, Nonaccrual, Interest Income	$ 11,307	$ 45,856
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Number of Loans, Nonaccrual Status	1	1
Financing Receivable, Nonaccrual	$ 502,961	$ 502,961
Impaired Financing Receivable, Related Allowance		$ 129,461
Commercial Portfolio Segment [Member]
Financing Receivable, Number of Loans, Nonaccrual Status	1	1
Financing Receivable, Nonaccrual	$ 152,449	$ 152,449
Impaired Financing Receivable, Related Allowance		$ 152,449

Note 4 - Loans and Allowance _4

Note 4 - Loans and Allowance for Credit Losses - Major Categories of Loans (Details) - USD ($)	Mar. 31, 2023	Jan. 01, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Loans	$ 526,081,035		$ 521,679,143
Loans, allowance for credit loss	4,589,232	$ 4,150,198	4,150,198	$ 3,654,318	$ 3,650,268
Deferred origination fees net of costs	596,203		608,405
Financing Receivable, after Allowance for Credit Loss	520,895,600		516,920,540
Commercial Real Estate Portfolio Segment [Member]
Loans	357,768,606		351,794,702
Loans, allowance for credit loss	2,468,962	2,818,582	2,818,582	2,546,060	2,482,930
Construction and Land Development [Member]
Loans	24,911,711		23,978,373
Loans, allowance for credit loss	289,221	164,596	164,596	120,724	214,547
Residential Portfolio Segment [Member]
Loans	113,384,265		114,683,149
Loans, allowance for credit loss	1,259,741	793,919	793,919	654,639	603,558
Commercial Portfolio Segment [Member]
Loans	29,876,303		31,066,497
Loans, allowance for credit loss	457,059	337,303	337,303	267,689	255,413
Consumer Portfolio Segment [Member]
Loans	140,150		156,422
Loans, allowance for credit loss	$ 3,536	$ 4,706	$ 4,706	$ 3,632	$ 4,370

Note 4 - Loans and Allowance _5

Note 4 - Loans and Allowance for Credit Losses - Non-accrual Loans (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Nonaccrual, No Allowance	$ 0	$ 0
Nonaccrual loans	655,410	655,410
Still Accruing	0	0
Commercial Real Estate Portfolio Segment [Member]
Nonaccrual, No Allowance	0	0
Nonaccrual loans	502,961	502,961
Still Accruing	0	0
Construction and Land Development [Member]
Nonaccrual, No Allowance	0	0
Nonaccrual loans	0	0
Still Accruing	0	0
Residential Portfolio Segment [Member]
Nonaccrual, No Allowance	0	0
Nonaccrual loans	0	0
Still Accruing	0	0
Commercial Portfolio Segment [Member]
Nonaccrual, No Allowance	0	0
Nonaccrual loans	152,449	152,449
Still Accruing	0	0
Consumer Portfolio Segment [Member]
Nonaccrual, No Allowance	0	0
Nonaccrual loans	0	0
Still Accruing	$ 0	$ 0

Note 4 - Loans and Allowance _6

Note 4 - Loans and Allowance for Credit Losses - Past Due Loans (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Loans	$ 526,081,035	$ 521,679,143
Financial Asset, 30 to 59 Days Past Due [Member]
Loans	312,897	311,409
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	655,410
Financial Asset, Past Due [Member]
Loans	968,307	966,819
Financial Asset, Not Past Due [Member]
Loans	525,112,728	520,712,324
Commercial Real Estate Portfolio Segment [Member]
Loans	357,768,606	351,794,702
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	357,265,645	351,291,741
Construction and Land Development [Member]
Loans	24,911,711	23,978,373
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	24,911,711	23,978,373
Residential Portfolio Segment [Member]
Loans	113,384,265	114,683,149
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Loans	312,897	311,409
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	0
Residential Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Loans	312,897	311,409
Residential Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Loans	113,071,368	114,371,740
Commercial Portfolio Segment [Member]
Loans	29,876,303	31,066,497
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	152,449
Commercial Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Loans	152,449	152,449
Commercial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Loans	29,723,854	30,914,048
Consumer Portfolio Segment [Member]
Loans	140,150	156,422
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	$ 140,150	$ 156,422

Note 4 - Loans and Allowance _7

Note 4 - Loans and Allowance for Credit Losses - Collateral Dependent Loans (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Loans	$ 526,081,035	$ 521,679,143
Commercial Real Estate Portfolio Segment [Member]
Loans	357,768,606	351,794,702
Construction and Land Development [Member]
Loans	24,911,711	23,978,373
Residential Portfolio Segment [Member]
Loans	113,384,265	114,683,149
Commercial Portfolio Segment [Member]
Loans	29,876,303	31,066,497
Consumer Portfolio Segment [Member]
Loans	140,150	$ 156,422
Collateral Pledged [Member]
Loans	655,410
Collateral Pledged [Member] | Commercial Real Estate Portfolio Segment [Member]
Loans	502,961
Collateral Pledged [Member] | Construction and Land Development [Member]
Loans	0
Collateral Pledged [Member] | Residential Portfolio Segment [Member]
Loans	0
Collateral Pledged [Member] | Commercial Portfolio Segment [Member]
Loans	152,449
Collateral Pledged [Member] | Consumer Portfolio Segment [Member]
Loans	$ 0

Note 4 - Loans and Allowance _8

Note 4 - Loans and Allowance for Credit Losses - Impaired Loans (Details)	12 Months Ended
	Dec. 31, 2022 USD ($)
Unpaid Contractual Principal Balance	$ 7,428,214
Recorded Investment With No Allowance	6,772,804
Recorded Investment With Allowance	655,410
Total Recorded Investment	7,428,214
Related Allowance	281,910
Average Recorded Investment	7,220,412
Interest Recognized	234,070
Commercial Real Estate Portfolio Segment [Member]
Unpaid Contractual Principal Balance	7,019,415
Recorded Investment With No Allowance	6,516,454
Recorded Investment With Allowance	502,961
Total Recorded Investment	7,019,415
Related Allowance	129,461
Average Recorded Investment	6,920,174
Interest Recognized	223,476
Residential Portfolio Segment [Member]
Unpaid Contractual Principal Balance	256,350
Recorded Investment With No Allowance	256,350
Recorded Investment With Allowance	0
Total Recorded Investment	256,350
Related Allowance	0
Average Recorded Investment	147,789
Interest Recognized	10,594
Commercial Portfolio Segment [Member]
Unpaid Contractual Principal Balance	152,449
Recorded Investment With No Allowance	0
Recorded Investment With Allowance	152,449
Total Recorded Investment	152,449
Related Allowance	152,449
Average Recorded Investment	152,449
Interest Recognized	$ 0

Note 4 - Loans and Allowance _9

Note 4 - Loans and Allowance for Credit Losses - Loans by Credit Grade (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Loans, current year	$ 13,067,202
Loans, one year before	109,509,115
Loans, two years before	76,605,767
Loans, three years before	37,180,028
Loans, four years before	47,414,911
Loans, prior	223,799,806
Loans, revolving	18,504,206
Loans	526,081,035	$ 521,679,143
Excellent [Member]
Loans		195,251
Above Average [Member]
Loans		588,823
Average [Member]
Loans		109,970,159
Acceptable [Member]
Loans		293,819,274
Pass [Member]
Loans, current year	13,067,202
Loans, one year before	109,509,115
Loans, two years before	76,028,959
Loans, three years before	37,180,028
Loans, four years before	45,876,943
Loans, prior	209,041,069
Loans, revolving	18,477,207
Loans	509,180,523	99,468,580
Special Mention [Member]
Loans, current year	0
Loans, one year before	0
Loans, two years before	574,689
Loans, three years before	0
Loans, four years before	1,385,519
Loans, prior	3,512,960
Loans, revolving	0
Loans	5,473,168	5,530,925
Substandard [Member]
Loans, current year	0
Loans, one year before	0
Loans, two years before	0
Loans, three years before	0
Loans, four years before	152,449
Loans, prior	11,245,777
Loans, revolving	0
Loans	11,398,226	12,070,750
Doubtful [Member]
Loans, current year	0
Loans, one year before	0
Loans, two years before	2,119
Loans, three years before	0
Loans, four years before	0
Loans, prior	0
Loans, revolving	26,999
Loans	29,118	35,381
Commercial Real Estate Portfolio Segment [Member]
Loans, current year	8,969,175
Loans, one year before	74,007,568
Loans, two years before	56,544,303
Loans, three years before	20,357,085
Loans, four years before	28,243,488
Loans, prior	167,019,739
Loans, revolving	2,627,248
Loans	357,768,606	351,794,702
Commercial Real Estate Portfolio Segment [Member] | Excellent [Member]
Loans		0
Commercial Real Estate Portfolio Segment [Member] | Above Average [Member]
Loans		0
Commercial Real Estate Portfolio Segment [Member] | Average [Member]
Loans		65,908,980
Commercial Real Estate Portfolio Segment [Member] | Acceptable [Member]
Loans		201,854,424
Commercial Real Estate Portfolio Segment [Member] | Pass [Member]
Loans, current year	8,969,175
Loans, one year before	74,007,568
Loans, two years before	56,544,303
Loans, three years before	20,357,085
Loans, four years before	28,243,488
Loans, prior	153,922,978
Loans, revolving	2,627,248
Loans	344,671,845	70,826,837
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member]
Loans, current year	0
Loans, one year before	0
Loans, two years before	0
Loans, three years before	0
Loans, four years before	0
Loans, prior	3,512,960
Loans, revolving	0
Loans	3,512,960	3,558,954
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member]
Loans, current year	0
Loans, one year before	0
Loans, two years before	0
Loans, three years before	0
Loans, four years before	0
Loans, prior	9,583,801
Loans, revolving	0
Loans	9,583,801	9,645,507
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member]
Loans, current year	0
Loans, one year before	0
Loans, two years before	0
Loans, three years before	0
Loans, four years before	0
Loans, prior	0
Loans, revolving	0
Loans	0	0
Construction and Land Development [Member]
Loans, current year	328,076
Loans, one year before	6,138,120
Loans, two years before	4,518,090
Loans, three years before	4,641,615
Loans, four years before	428,050
Loans, prior	8,368,598
Loans, revolving	489,162
Loans	24,911,711	23,978,373
Construction and Land Development [Member] | Excellent [Member]
Loans		0
Construction and Land Development [Member] | Above Average [Member]
Loans		0
Construction and Land Development [Member] | Average [Member]
Loans		3,845,351
Construction and Land Development [Member] | Acceptable [Member]
Loans		12,087,402
Construction and Land Development [Member] | Pass [Member]
Loans, current year	328,076
Loans, one year before	6,138,120
Loans, two years before	4,518,090
Loans, three years before	4,641,615
Loans, four years before	428,050
Loans, prior	8,368,598
Loans, revolving	489,162
Loans	24,911,711	8,045,620
Construction and Land Development [Member] | Special Mention [Member]
Loans, current year	0
Loans, one year before	0
Loans, two years before	0
Loans, three years before	0
Loans, four years before	0
Loans, prior	0
Loans, revolving	0
Loans	0	0
Construction and Land Development [Member] | Substandard [Member]
Loans, current year	0
Loans, one year before	0
Loans, two years before	0
Loans, three years before	0
Loans, four years before	0
Loans, prior	0
Loans, revolving	0
Loans	0	0
Construction and Land Development [Member] | Doubtful [Member]
Loans, current year	0
Loans, one year before	0
Loans, two years before	0
Loans, three years before	0
Loans, four years before	0
Loans, prior	0
Loans, revolving	0
Loans	0	0
Residential Portfolio Segment [Member]
Loans, current year	2,892,774
Loans, one year before	20,094,724
Loans, two years before	10,204,311
Loans, three years before	8,805,836
Loans, four years before	17,107,443
Loans, prior	47,117,487
Loans, revolving	7,161,690
Loans	113,384,265	114,683,149
Residential Portfolio Segment [Member] | Excellent [Member]
Loans		15,613
Residential Portfolio Segment [Member] | Above Average [Member]
Loans		573,108
Residential Portfolio Segment [Member] | Average [Member]
Loans		35,774,807
Residential Portfolio Segment [Member] | Acceptable [Member]
Loans		63,833,864
Residential Portfolio Segment [Member] | Pass [Member]
Loans, current year	2,892,774
Loans, one year before	20,094,724
Loans, two years before	10,204,311
Loans, three years before	8,805,836
Loans, four years before	15,721,924
Loans, prior	45,455,511
Loans, revolving	7,161,690
Loans	110,336,770	10,815,681
Residential Portfolio Segment [Member] | Special Mention [Member]
Loans, current year	0
Loans, one year before	0
Loans, two years before	0
Loans, three years before	0
Loans, four years before	1,385,519
Loans, prior	0
Loans, revolving	0
Loans	1,385,519	1,397,282
Residential Portfolio Segment [Member] | Substandard [Member]
Loans, current year	0
Loans, one year before	0
Loans, two years before	0
Loans, three years before	0
Loans, four years before	0
Loans, prior	1,661,976
Loans, revolving	0
Loans	1,661,976	2,272,794
Residential Portfolio Segment [Member] | Doubtful [Member]
Loans, current year	0
Loans, one year before	0
Loans, two years before	0
Loans, three years before	0
Loans, four years before	0
Loans, prior	0
Loans, revolving	0
Loans	0	0
Commercial Portfolio Segment [Member]
Loans, current year	862,177
Loans, one year before	9,218,002
Loans, two years before	5,326,285
Loans, three years before	3,358,986
Loans, four years before	1,617,766
Loans, prior	1,293,980
Loans, revolving	8,199,107
Loans	29,876,303	31,066,497
Commercial Portfolio Segment [Member] | Excellent [Member]
Loans		178,916
Commercial Portfolio Segment [Member] | Above Average [Member]
Loans		0
Commercial Portfolio Segment [Member] | Average [Member]
Loans		4,347,337
Commercial Portfolio Segment [Member] | Acceptable [Member]
Loans		16,039,145
Commercial Portfolio Segment [Member] | Pass [Member]
Loans, current year	862,177
Loans, one year before	9,218,002
Loans, two years before	4,751,596
Loans, three years before	3,358,986
Loans, four years before	1,465,317
Loans, prior	1,293,980
Loans, revolving	8,199,107
Loans	29,149,165	9,773,961
Commercial Portfolio Segment [Member] | Special Mention [Member]
Loans, current year	0
Loans, one year before	0
Loans, two years before	574,689
Loans, three years before	0
Loans, four years before	0
Loans, prior	0
Loans, revolving	0
Loans	574,689	574,689
Commercial Portfolio Segment [Member] | Substandard [Member]
Loans, current year	0
Loans, one year before	0
Loans, two years before	0
Loans, three years before	0
Loans, four years before	152,449
Loans, prior	0
Loans, revolving	0
Loans	152,449	152,449
Commercial Portfolio Segment [Member] | Doubtful [Member]
Loans, current year	0
Loans, one year before	0
Loans, two years before	0
Loans, three years before	0
Loans, four years before	0
Loans, prior	0
Loans, revolving	0
Loans	0	0
Consumer Portfolio Segment [Member]
Loans, current year	15,000
Loans, one year before	50,701
Loans, two years before	12,778
Loans, three years before	16,506
Loans, four years before	18,164
Loans, prior	2
Loans, revolving	26,999
Loans	140,150	156,422
Consumer Portfolio Segment [Member] | Excellent [Member]
Loans		722
Consumer Portfolio Segment [Member] | Above Average [Member]
Loans		15,715
Consumer Portfolio Segment [Member] | Average [Member]
Loans		93,684
Consumer Portfolio Segment [Member] | Acceptable [Member]
Loans		4,439
Consumer Portfolio Segment [Member] | Pass [Member]
Loans, current year	15,000
Loans, one year before	50,701
Loans, two years before	10,659
Loans, three years before	16,506
Loans, four years before	18,164
Loans, prior	2
Loans, revolving	0
Loans	111,032	6,481
Consumer Portfolio Segment [Member] | Special Mention [Member]
Loans, current year	0
Loans, one year before	0
Loans, two years before	0
Loans, three years before	0
Loans, four years before	0
Loans, prior	0
Loans, revolving	0
Loans	0	0
Consumer Portfolio Segment [Member] | Substandard [Member]
Loans, current year	0
Loans, one year before	0
Loans, two years before	0
Loans, three years before	0
Loans, four years before	0
Loans, prior	0
Loans, revolving	0
Loans	0	0
Consumer Portfolio Segment [Member] | Doubtful [Member]
Loans, current year	0
Loans, one year before	0
Loans, two years before	2,119
Loans, three years before	0
Loans, four years before	0
Loans, prior	0
Loans, revolving	26,999
Loans	$ 29,118	$ 35,381

Note 4 - Loans and Allowance_10

Note 4 - Loans and Allowance for Credit Losses - Allowance for Loan Losses (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Allowance for loan losses	$ 4,150,198	$ 3,650,268	$ 3,650,268
Provision for loan losses	(270,000)	0	475,000
Write off	0	0	(10,240)
Recovery	375,098	4,050	35,170
Allowance for loan losses	4,589,232	3,654,318	4,150,198
Allowance for loan losses ending balance evaluated for impairment individually	281,910	281,910	281,910
Allowance for loan losses ending balance evaluated for impairment collectively	4,307,322	3,372,408	3,868,288
Outstanding loan balances evaluated for impairment individually	655,410	6,970,820	7,428,214
Loans	526,081,035		521,679,143
Outstanding loan balances evaluated for impairment collectively	524,851,322	480,541,861	513,671,724
Beginning balance	0
Credit loss recovery	(8,602)
Ending balance	76,471		0
Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0	0
Loans	574,303	657,129	579,205
Commercial Real Estate Portfolio Segment [Member]
Allowance for loan losses	2,818,582	2,482,930	2,482,930
Provision for loan losses	1,218	63,130	343,424
Write off	0	0	(7,772)
Recovery	0	0	0
Allowance for loan losses	2,468,962	2,546,060	2,818,582
Allowance for loan losses ending balance evaluated for impairment individually	129,461	129,461	129,461
Allowance for loan losses ending balance evaluated for impairment collectively	2,339,501	2,416,599	2,689,121
Outstanding loan balances evaluated for impairment individually	502,961	6,781,030	7,019,415
Loans	357,768,606		351,794,702
Outstanding loan balances evaluated for impairment collectively	357,265,645	322,365,691	344,775,287
Commercial Real Estate Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0	0
Loans	0	32,991	0
Construction and Land Development [Member]
Allowance for loan losses	164,596	214,547	214,547
Provision for loan losses	(401)	(97,873)	(66,151)
Write off	0	0	0
Recovery	4,050	4,050	16,200
Allowance for loan losses	289,221	120,724	164,596
Allowance for loan losses ending balance evaluated for impairment individually	0	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	289,221	120,724	164,596
Outstanding loan balances evaluated for impairment individually	0	0	0
Loans	24,911,711		23,978,373
Outstanding loan balances evaluated for impairment collectively	24,545,262	19,946,051	23,608,751
Construction and Land Development [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0	0
Loans	366,449	379,349	369,622
Residential Portfolio Segment [Member]
Allowance for loan losses	793,919	603,558	603,558
Provision for loan losses	(369,453)	51,081	171,391
Write off	0	0	0
Recovery	371,048	0	18,970
Allowance for loan losses	1,259,741	654,639	793,919
Allowance for loan losses ending balance evaluated for impairment individually	0	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	1,259,741	654,639	793,919
Outstanding loan balances evaluated for impairment individually	0	37,341	256,350
Loans	113,384,265		114,683,149
Outstanding loan balances evaluated for impairment collectively	113,176,411	111,711,532	114,217,216
Residential Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0	0
Loans	207,854	244,789	209,583
Commercial Portfolio Segment [Member]
Allowance for loan losses	337,303	255,413	255,413
Provision for loan losses	(15,444)	12,276	84,358
Write off	0	0	(2,468)
Recovery	0	0	0
Allowance for loan losses	457,059	267,689	337,303
Allowance for loan losses ending balance evaluated for impairment individually	152,449	152,449	152,449
Allowance for loan losses ending balance evaluated for impairment collectively	304,610	115,240	184,854
Outstanding loan balances evaluated for impairment individually	152,449	152,449	152,449
Loans	29,876,303		31,066,497
Outstanding loan balances evaluated for impairment collectively	29,723,854	26,222,436	30,914,048
Commercial Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0	0
Loans	0	0	0
Consumer Portfolio Segment [Member]
Allowance for loan losses	4,706	4,370	4,370
Provision for loan losses	3,367	(738)	336
Write off	0	0	0
Recovery	0	0	0
Allowance for loan losses	3,536	3,632	4,706
Allowance for loan losses ending balance evaluated for impairment individually	0	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	3,536	3,632	4,706
Outstanding loan balances evaluated for impairment individually	0	0	0
Loans	140,150		156,422
Outstanding loan balances evaluated for impairment collectively	140,150	296,151	156,422
Consumer Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0	0
Loans	0	0	0
Unallocated Financing Receivables [Member]
Allowance for loan losses	31,092	89,450	89,450
Provision for loan losses	110,713	(27,876)	(58,358)
Write off	0	0	0
Recovery	0	0	0
Allowance for loan losses	110,713	61,574	31,092
Allowance for loan losses ending balance evaluated for impairment individually	0	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	110,713	61,574	31,092
Outstanding loan balances evaluated for impairment individually	0	0	0
Outstanding loan balances evaluated for impairment collectively	0	0	0
Unallocated Financing Receivables [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses	0
Allowance for loan losses	0	0	0
Loans	0	$ 0	0
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Allowance for loan losses	333,936
Allowance for loan losses			333,936
Beginning balance	85,073
Ending balance			85,073
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Commercial Real Estate Portfolio Segment [Member]
Allowance for loan losses	(350,838)
Allowance for loan losses			(350,838)
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Construction and Land Development [Member]
Allowance for loan losses	120,976
Allowance for loan losses			120,976
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Residential Portfolio Segment [Member]
Allowance for loan losses	464,227
Allowance for loan losses			464,227
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Commercial Portfolio Segment [Member]
Allowance for loan losses	135,200
Allowance for loan losses			135,200
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Consumer Portfolio Segment [Member]
Allowance for loan losses	(4,537)
Allowance for loan losses			(4,537)
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Unallocated Financing Receivables [Member]
Allowance for loan losses	$ (31,092)
Allowance for loan losses			$ (31,092)

Note 4 - Loans and Allowance_11

Note 4 - Loans and Allowance for Credit Losses - Activity for Accretable Yield of Purchased Loans (Details)	3 Months Ended
	Mar. 31, 2023 USD ($)
Balance at December 31, 2022	$ 930,973
Accretion	112,233
Balance at March 31, 2023	$ 818,740

Note 5 - Goodwill and Other I_3

Note 5 - Goodwill and Other Intangibles (Details Textual) - Core Deposits [Member]	Mar. 31, 2023 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 Three	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Two	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 5 - Goodwill and Other I_4

Note 5 - Goodwill and Other Intangibles - Changes in Goodwill and Other Intangibles (Details)	3 Months Ended
	Mar. 31, 2023 USD ($)
Balance	$ 6,978,208
Balance	7,042,752
Amortization	(2,082)
Balance	6,978,208
Balance	7,040,670
Core Deposits [Member]
Balance, other intangible	64,544
Amortization, other intangible	(2,082)
Balance, other intangible	$ 62,462

Note 6 - Capital Standards (Det

Note 6 - Capital Standards (Details Textual)	Mar. 31, 2023	Dec. 31, 2022
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 6 - Capital Standards - Ca

Note 6 - Capital Standards - Capital Requirements (Details) $ in Thousands	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Capital	$ 77,752	$ 75,826
Capital to Risk Weighted Assets	0.1313	0.1296
Capital Required for Capital Adequacy	$ 62,181	$ 61,410
Capital Required for Capital Adequacy to Risk Weighted Assets	0.1050	0.1050
Capital Required to be Well Capitalized	$ 59,220	$ 58,486
Capital Required to be Well Capitalized to Risk Weighted Assets	0.10	0.1000
Tier One Risk Based Capital	$ 73,026	$ 71,676
Tier One Risk Based Capital to Risk Weighted Assets	0.1233	0.1226
Tier One Risk Based Capital Required for Capital Adequacy	$ 50,337	$ 49,713
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	$ 47,376	$ 46,789
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets	0.08	0.0800
Common Equity Tier One Capital	$ 73,026	$ 71,676
Common Equity Tier One Capital Ratio	0.1233	0.1226
Common Equity Tier One Capital Required for Capital Adequacy	$ 41,454	$ 40,940
Common Equity Tier One Capital Required for Capital Adequacy Ratio	0.0700	0.0700
Common Equity Tier One Capital Required to be Well-Capitalized	$ 38,493	$ 38,016
Common Equity Tier One Capital Required to be Well Capitalized Ratio	0.065	0.0650
Tier One Leverage Capital	$ 73,026	$ 71,676
Tier One Leverage Capital to Average Assets	0.0997	0.0983
Tier One Leverage Capital Required for Capital Adequacy	$ 29,311	$ 29,167
Tier One Leverage Capital Required for Capital Adequacy to Average Assets	0.0400	0.0400
Tier One Leverage Capital Required to be Well Capitalized	$ 36,639	$ 36,459
Tier One Leverage Capital Required to be Well Capitalized to Average Assets	0.05	0.0500

Note 7 - Derivative Financial_3

Note 7 - Derivative Financial Instrument (Details Textual) - USD ($)	Mar. 31, 2023	Feb. 28, 2023
Interest Rate Swap [Member] | Fair Value Hedging [Member]
Derivative, Notional Amount	$ 10,000,000	$ 10,000,000

Note 7 - Derivative Financial_4

Note 7 - Derivative Financial Instrument - Schedule of Derivative Instruments (Details)	Mar. 31, 2023 USD ($)
Securities Available for Sale [Member]
Securities available for sale	$ 22,146,372
Fair Value Hedge, Cumulative Adjustment	232,536
Other Liabilities [Member] | Designated as Hedging Instrument [Member]
Derivative Liability	198,424
Other Liabilities [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative Liability	$ 198,424

Note 7 - Derivative Financial_5

Note 7 - Derivative Financial Instrument - Derivative Instruments, Gain (Loss) (Details) - Interest Rate Swap [Member] - Designated as Hedging Instrument [Member] - Fair Value Hedging [Member]	3 Months Ended
	Mar. 31, 2023 USD ($)
Hedged items	$ 232,536
Interest rate contracts desigianted as hedging instruments	(198,424)
Derivative, Fair Value Hedge, Included in Effectiveness, Gain (Loss)	$ 34,112

Note 8 - Fair Value (Details Te

Note 8 - Fair Value (Details Textual)	3 Months Ended
	Mar. 31, 2023
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 8 - Fair Value - Summarize

Note 8 - Fair Value - Summarizes Financial Assets Measured at Fair Value (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Fair value, available for sale	$ 125,822,067	$ 126,314,449
Mutual fund	497,812	489,145
Fair Value, Recurring [Member]
Fair value, available for sale	125,822,067	126,314,449
Fair value hedge	198,424
Mutual fund	497,812	489,145
Fair Value, Nonrecurring [Member]
Other real estate owned, net	1,242,365	1,242,365
Collateral-dependent loans, net	373,500	373,500
Fair Value, Inputs, Level 1 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	0	0
Fair value hedge	0
Mutual fund	497,812	489,145
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member]
Other real estate owned, net	0	0
Collateral-dependent loans, net	0	0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	125,822,067	125,914,449
Fair value hedge	198,424
Mutual fund	0	0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member]
Other real estate owned, net	0	0
Collateral-dependent loans, net	0	0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	0	400,000
Fair value hedge	0
Mutual fund	0	0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member]
Other real estate owned, net	1,242,365	1,242,365
Collateral-dependent loans, net	373,500	373,500
US States and Political Subdivisions Debt Securities [Member]
Fair value, available for sale	486,848	552,281
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	486,848	552,281
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	486,848	552,281
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	939,889	1,019,797
SBA Pools [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	939,889	1,019,797
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	939,889	1,019,797
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	9,419,723	9,389,896
Corporate Debt Securities [Member] | Fair Value, Nonrecurring [Member]
Fair value, available for sale	9,419,723	9,389,896
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member]
Fair value, available for sale	0	0
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Nonrecurring [Member]
Fair value, available for sale	9,419,723	8,989,896
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Nonrecurring [Member]
Fair value, available for sale	0	400,000
Collateralized Mortgage-Backed Securities [Member]
Fair value, available for sale	114,975,607	115,352,475
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	114,975,607	115,352,475
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	114,975,607	115,352,475
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	$ 0	$ 0

Note 8 - Fair Value - Assets Me

Note 8 - Fair Value - Assets Measured on a Nonrecurring Basis (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Other Real Estate Owned [Member]
Percent, expected sales cost to appraised rate	10%
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Collateral Dependent Loans [Member]
Fair value	$ 373,500	$ 373,500
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Collateral Dependent Loans [Member] | Minimum [Member]
Percent, expected sales cost to appraised rate	0%	0%
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Collateral Dependent Loans [Member] | Maximum [Member]
Percent, expected sales cost to appraised rate	20%	20%
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Collateral Dependent Loans [Member] | Weighted Average [Member]
Percent, expected sales cost to appraised rate	(10.00%)	(10.00%)
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Other Real Estate Owned [Member]
Fair value	$ 1,242,365	$ 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%	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%	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%)	(5.00%)

Note 8 - Fair Value - Reconcili

Note 8 - Fair Value - Reconciliation of Level 3 Inputs (Details) - Corporate Bond Securities [Member]	3 Months Ended
	Mar. 31, 2023 USD ($)
Fair value beginning balance	$ 400,000
Additions	0
Principal payments received	0
Transfer to level 2	(400,000)
Fair value ending balance	$ 0

Note 8 - Fair Value - Estimated

Note 8 - Fair Value - Estimated Fair Value of Financial Instruments (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Fair value, held to maturity	$ 19,235,987
Securities held to maturity	19,235,987
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	9,566,354	$ 7,263,537
Noninterest-bearing deposits	127,342,442	126,695,349
Securities sold under repurchase agreements	3,077,227	5,175,303
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Certificates of deposit in other banks	100,000	100,000
Accrued interest receivable	1,739,314	1,815,784
Fair value, held to maturity	17,506,603	17,537,377
Mortgage loans held for sale	0	428,355
Restricted stock, at cost	907,500	1,332,500
Bank owned life insurance	14,668,447	14,585,342
Securities held to maturity	17,506,603	17,537,377
Interest-bearing deposits	509,966,348	496,915,775
Federal Home Loan Bank advances	10,000,000	20,000,000
Long-term debt	14,624,826	15,095,642
Accrued interest payable	721,007	349,910
Fair value hedge	198,424	0
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value, held to maturity	2,971,620	2,971,620
Securities held to maturity	2,971,620	2,971,620
Loans, net	520,895,600	516,920,540
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	9,566,354	7,263,537
Noninterest-bearing deposits	127,342,442	126,695,349
Securities sold under repurchase agreements	3,077,227	5,175,303
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Certificates of deposit in other banks	100,000	100,000
Accrued interest receivable	1,739,314	1,815,784
Fair value, held to maturity	16,264,367	15,908,175
Mortgage loans held for sale	0	434,271
Restricted stock, at cost	907,500	1,332,500
Bank owned life insurance	14,668,447	14,585,342
Securities held to maturity	16,264,367	15,908,175
Interest-bearing deposits	506,448,348	492,769,775
Federal Home Loan Bank advances	9,682,000	19,622,000
Long-term debt	13,797,069	14,241,237
Accrued interest payable	721,007	349,910
Fair value hedge	198,424	0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value, held to maturity	2,971,620	2,971,620
Securities held to maturity	2,971,620	2,971,620
Loans, net	$ 507,013,897	$ 503,144,771

Note 9 - Earnings Per Share - B

Note 9 - Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net income	$ 1,900,851	$ 2,050,802
Weighted average shares outstanding (in shares)	3,071,214	3,037,137
Earnings per share - basic and diluted (in dollars per share)	$ 0.62	$ 0.68

Note 10 - Retirement Plans (Det

Note 10 - Retirement Plans (Details Textual)	3 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 77,675	$ 79,740
Number of Employees Covered by Life Insurance Policy	12
Other Postretirement Benefits Cost (Reversal of Cost)	$ 1,834	1,702
Employee Benefits and Share-Based Compensation	$ 594,057	511,792
Supplemental Employee Retirement Plan [Member]
Number of Employees Participating in Plan	4
Employee Benefits and Share-Based Compensation	$ 72,600	$ 45,000
Profit Sharing Plan [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	4%
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage	100%