Farmers and Merchants Bancshares (FMFG) 10-Q 14 Nov 23 2023 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2023	Nov. 13, 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	Q3
Document Fiscal Year Focus	2023
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 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		3,092,368

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Cash and due from banks	$ 23,474,989	$ 6,414,822
Federal funds sold and other interest-bearing deposits	1,536,689	848,715
Cash and cash equivalents	25,011,678	7,263,537
Certificates of deposit in other banks	100,000	100,000
Securities available for sale, at fair value	136,563,220	126,314,449
Securities held to maturity, at amortized cost less allowance for credit losses of $92,045 and $0	20,134,028	20,508,997
Equity security, at fair value	482,907	489,145
Restricted stock, at cost	863,500	1,332,500
Mortgage loans held for sale	0	428,355
Loans, less allowance for credit losses of $4,516,402 and $4,150,198	526,133,041	516,920,540
Premises and equipment, net	6,093,372	6,186,594
Accrued interest receivable	2,018,786	1,815,784
Deferred income taxes, net	9,901,701	8,392,658
Other real estate owned, net	1,242,365	1,242,365
Bank owned life insurance	14,846,937	14,585,342
Goodwill and other intangibles, net	7,036,506	7,042,752
Other assets	6,209,726	5,587,654
Assets	756,637,767	718,210,672
Deposits:
Noninterest-bearing	113,326,966	126,695,349
Interest-bearing	530,935,768	496,915,775
Total deposits	644,262,734	623,611,124
Securities sold under repurchase agreements	5,357,674	5,175,303
Federal Home Loan Bank of Atlanta advances	5,000,000	20,000,000
Federal Reserve Bank advances	33,000,000	0
Long-term debt (net of issuance costs)	13,683,195	15,095,642
Accrued interest payable	1,491,099	349,910
Other liabilities	5,581,129	6,203,730
Liabilities	708,375,831	670,435,709
Stockholders' equity:
Common stock, par value $.01 per share, authorized 5,000,000 shares; issued and outstanding 3,092,368 shares in 2023 and 3,071,214 in 2022	30,924	30,712
Additional paid-in capital	29,979,718	29,549,914
Retained earnings	38,940,539	35,300,166
Accumulated other comprehensive loss	(20,689,245)	(17,105,829)
Equity, Attributable to Parent	48,261,936	47,774,963
Liabilities and Equity	$ 756,637,767	$ 718,210,672

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Held-to-Maturity, Allowance for Credit Loss	$ 92,045	$ 0
Loans, allowance for credit loss	$ 4,516,402	$ 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)	3,090,368	3,071,214
Common stock, share outstanding (in shares)	3,090,368	3,071,214

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Interest income:
Loans, including fees	$ 6,609,039	$ 5,606,913	$ 19,023,308	$ 16,660,625
Investment securities - taxable	996,586	783,606	2,528,793	2,170,154
Investment securities - tax exempt	137,254	140,185	416,626	430,495
Federal funds sold and other interest earning assets	258,818	55,361	469,721	89,663
Total interest income	8,001,697	6,586,065	22,438,448	19,350,937
Interest expense:
Deposits	2,239,808	313,556	5,010,624	971,320
Securities sold under repurchase agreements	12,110	2,874	23,949	8,558
Federal Home Loan Bank advances	39,289	12,727	452,272	37,765
Federal Reserve Bank advances	378,500	0	391,763	0
Long-term debt	145,001	165,156	444,953	505,268
Total interest expense	2,814,708	494,313	6,323,561	1,522,911
Net interest income	5,186,989	6,091,752	16,114,887	17,828,026
(Recovery of) provision for credit losses	(75,000)	95,000	(570,000)	95,000
Net interest income after (recovery of) provision for credit losses	5,261,989	5,996,752	16,684,887	17,733,026
Noninterest income:
Mortgage banking income	33,585	8,155	92,514	195,829
Bank owned life insurance income	89,748	70,479	261,595	179,735
Fair value adjustment on equity security	(13,769)	(17,611)	(15,343)	(62,524)
Gain on sale of SBA loans	0	0	0	158,123
Total noninterest income	383,226	337,485	1,168,890	1,274,933
Noninterest expense:
Salaries	1,916,804	1,987,991	5,643,742	5,656,643
Employee benefits	348,048	418,422	1,483,278	1,367,829
Occupancy	229,135	229,273	645,398	670,938
Furniture and equipment	246,896	203,075	739,547	642,283
Other	1,005,065	945,930	2,677,065	2,815,182
Total noninterest expense	3,745,948	3,784,691	11,189,030	11,152,875
Income before income taxes	1,899,267	2,549,546	6,664,747	7,855,084
Income taxes	467,128	575,236	1,661,640	1,779,239
Net income	$ 1,432,139	$ 1,974,310	$ 5,003,107	$ 6,075,845
Earnings per share - basic and diluted (in dollars per share)	$ 0.46	$ 0.65	$ 1.63	$ 2
Deposit Account [Member]
Noninterest income:
Noninterest revenue	$ 195,566	$ 201,251	$ 586,999	$ 574,444
Financial Service, Other [Member]
Noninterest income:
Noninterest revenue	$ 78,096	$ 75,211	$ 243,125	$ 229,326

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net income	$ 1,432,139	$ 1,974,310	$ 5,003,107	$ 6,075,845
Other comprehensive loss, net of income taxes:
Net unrealized loss arising during the period	(4,197,837)	(5,960,588)	(4,943,835)	(22,423,388)
Total unrealized loss on investment securities available for sale	(4,197,837)	(5,960,588)	(4,943,835)	(22,423,388)
Income tax benefit	1,155,140	1,640,205	1,360,419	6,170,356
Total other comprehensive loss	(3,042,697)	(4,320,383)	(3,583,416)	(16,253,032)
Total comprehensive (loss) income	$ (1,610,558)	$ (2,346,073)	$ 1,419,691	$ (10,177,187)

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	6,075,845	0	6,075,845
Other comprehensive loss						$ 0	0	0	(16,253,032)	(16,253,032)
Dividends reinvested (in shares)						16,350
Dividends reinvested						$ 163	339,918	0	0	340,081
Cash dividends, $0.31 per share						$ 0	0	(941,444)	0	(941,444)
Stock based compensation										0
Balance (in shares) at Sep. 30, 2022						3,053,487
Balance at Sep. 30, 2022						$ 30,535	29,197,340	34,263,001	(17,647,968)	45,842,908
Balance (in shares) at Jun. 30, 2022						3,053,487
Balance at Jun. 30, 2022						$ 30,535	29,197,475	32,288,555	(13,327,585)	48,188,980
Net income						0	0	1,974,310	0	1,974,310
Other comprehensive loss						$ 0	0	0	(4,320,383)	(4,320,383)
Dividends reinvested (in shares)						0
Dividends reinvested						$ 0	(135)	136	0	1
Balance (in shares) at Sep. 30, 2022						3,053,487
Balance at Sep. 30, 2022						$ 30,535	29,197,340	34,263,001	(17,647,968)	45,842,908
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)					49,834,244
Balance at Dec. 31, 2022						$ 30,712	29,549,914	35,300,166	(17,105,829)	47,774,963
Net income						0	0	5,003,107	0	5,003,107
Other comprehensive loss						$ 0	0	0	(3,583,416)	(3,583,416)
Dividends reinvested (in shares)						19,154
Dividends reinvested						$ 192	391,574	(7,843)	0	383,923
Cash dividends, $0.31 per share						$ 0	0	(1,013,499)	0	(1,013,499)
Stock-based compensation (in shares)						2,000
Stock based compensation						$ 20	38,230	0	0	38,250
Balance (in shares) at Sep. 30, 2023						3,092,368
Balance at Sep. 30, 2023						$ 30,924	29,979,718	38,940,539	(20,689,245)	48,261,936
Balance (in shares) at Jun. 30, 2023						3,090,368
Balance at Jun. 30, 2023						$ 30,904	29,941,488	37,508,400	(17,646,548)	49,834,244
Net income						0	0	1,432,139	0	1,432,139
Other comprehensive loss						$ 0	0	0	(3,042,697)	(3,042,697)
Stock-based compensation (in shares)						2,000
Stock based compensation						$ 20	38,230	0	0	38,250
Balance (in shares) at Sep. 30, 2023						3,092,368
Balance at Sep. 30, 2023						$ 30,924	$ 29,979,718	$ 38,940,539	$ (20,689,245)	$ 48,261,936

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash dividends, per share (in dollars per share)	$ 0.31	$ 0.31

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Reconciliation of net income to net cash provided by operating activities
Net income	$ 5,003,107	$ 6,075,845
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	382,691	354,814
(Recovery of) provision for credit losses	(570,000)	95,000
(Accretion) amortization of right of use asset	(3,920)	4,412
Equity security dividends reinvested	(9,105)	(5,156)
Unrealized loss on equity security	15,343	62,524
Gain on sale of SBA loans	0	(158,123)
Gain on sale of premises and equipment	(9,000)	0
Gain on fair value hedge	(28,133)	0
Stock based compensation	38,250	0
Amortization of debt issuance costs	4,219	4,218
Amortization of premiums and (accretion of discounts), net	(82,391)	(237,876)
Bank owned life insurance cash surrender value	(261,595)	(179,735)
Increase (decrease) in
Deferred loan fees and costs, net	(7,148)	(136,377)
Accrued interest payable	1,141,189	(35,644)
Other liabilities	(702,985)	228,072
Decrease (increase) in
Mortgage loans held for sale	428,355	(243,500)
Accrued interest receivable	(203,002)	8,681
Other assets	(52,244)	(433,594)
Net cash provided by operating activities	5,083,631	5,403,561
Cash flows from investing activities
Proceeds from maturity and call of securities, Available for sale	9,033,423	15,121,772
Proceeds from maturity and call of securities, Held to maturity	373,420	1,398,420
Purchase of securities, Available for sale	(24,888,256)	(17,278,216)
Purchases of certificates of deposit	0	250,000
Loans made to customers, net of principal collected	(8,927,917)	(24,044,676)
Proceeds from sale of loans	0	1,250,154
Redemption (purchase) of stock in FHLB of Atlanta	469,000	(19,600)
Purchase of bank owned life insurance	0	(2,800,000)
Proceeds from sale of premises and equipment	9,000	0
Purchases of premises, equipment and software	(256,735)	(384,873)
Net cash used in investing activities	(24,188,065)	(26,507,019)
Cash flows from financing activities
Noninterest-bearing deposits	(13,368,383)	7,094,065
Interest-bearing deposits	34,084,829	5,588,443
Securities sold under repurchase agreements	182,371	8,616
Federal Home Loan Bank of Atlanta advances	0	0
Federal Reserve Bank advances	33,000,000	0
Federal Home Loan Bank of Atlanta advances	(15,000,000)	0
Long-term debt principal payments	(1,416,666)	(1,416,665)
Dividends paid, net of reinvestments	(629,576)	(601,363)
Net cash provided by financing activities	36,852,575	10,673,096
Net (decrease) increase in cash and cash equivalents	17,748,141	(10,430,362)
Cash and cash equivalents at beginning of period	7,263,537	26,462,106
Cash and cash equivalents at end of period	25,011,678	16,031,744
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	5,236,743	1,675,435
Cash paid during the period for income taxes	1,850,848	2,531,122
Net unrealized loss on securities available for sale	$ (5,614,156)	$ (22,423,388)

Note 1 - Principles of Consolid

Note 1 - Principles of Consolidation	9 Months Ended
	Sep. 30, 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	9 Months Ended
	Sep. 30, 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 (“GAAP”) for interim financial information and in accordance with the instructions to Form 10 8 03 X. not three nine September 30, 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 Financial Accounting Standards Board (“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. September 30, 2023, In December 2022, 2022 06, 848 848”. 2022 06 848. 848 848 2021, September 30, 2023. 848 may 848 December 31, 2022 December 31, 2024, no 848. September 30, 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, not In March 2022, 2022 01, 815 2022 01 815 2017, 2017 12 one not 2022 01 2022 01 January 1, 2023. Summary of Significant Accounting Policies There have been no 10 December 31, 2022 Allowance for Credit Losses. As further discussed below, we adopted ASU 2016 13, 326 January 1, 2023. 326 326, January 1, 2023 326, January 1, 2023 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 Topic 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 Topic 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 that 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 utilizes 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 across this length of time helps to incorporate results recognized across the full economic cycle and smooth periods of economic recession and recovery. The Company 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 Topic 326, No The table below provides the impact of the implementation of ASC Topic 326: December 31, 2022 January 1, 2023 Pre-ASC 326 Impact of ASC As Reported Assets: Loans, gross $ 521,679,143 $ 233,411 $ 521,912,554 Allowance for credit losses: Loans: Real estate: Commercial 2,818,582 (350,838 ) 2,467,744 Construction and land development 164,596 280,179 444,775 Residential 793,919 538,435 1,332,354 Commercial 337,303 135,200 472,503 Consumer 4,706 (4,537 ) 169 Unallocated 31,092 (31,092 ) - Allowance for credit losses on loans 4,150,198 567,347 4,717,545 Loans, net 517,528,945 (333,936 ) 517,195,009 Allowance for credit losses on debt securities held to maturity - 51,990 51,990 Net deferred tax asset - 129,607 129,607 Liabilities: Allowance for credit losses on off balance sheet credit exposures - 85,073 85,073 Total equity $ 49,834,244 $ (341,392 ) $ 49,492,852 Derivative Financial Instruments: At the inception of a derivative contract, the Company designates the derivative as one three three 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. Stock-based Compensation: The Company recognizes in the income statement the grant date fair value of stock awards, restricted stock and restricted stock units. The fair value related to forfeitures of stock awards, restricted stock and restricted stock units are recorded to the income statement as they occur, reducing stock-based compensation expense in that period. The Company classifies stock-based compensation as either an equity award or a liability award. Equity classified awards are valued as of the grant date using either an observable market price or a valuation methodology. Liability classified awards are valued at fair value at each reporting date. For the periods presented, all of the Company's stock awards, restricted stock, and restricted stock units are classified as equity awards. During the third 2023, 2023 The Company’s stock-based compensation is described more fully in Note 12. Management believes that 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	9 Months Ended
	Sep. 30, 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 September 30, 2023 cost gains losses value Credit Losses Amount Available for sale State and municipal $ 500,000 $ - $ 28,965 $ 471,035 $ - $ 471,035 SBA pools 839,905 1,520 11,577 829,848 - 829,848 Corporate bonds 10,367,728 - 1,443,028 8,924,700 - 8,924,700 Mortgage-backed securities 153,977,642 - 27,640,005 126,337,637 - 126,337,637 $ 165,685,275 $ 1,520 $ 29,123,575 $ 136,563,220 $ - $ 136,563,220 Held to maturity State and municipal $ 20,226,073 $ - $ 2,248,646 $ 17,977,427 $ 92,045 $ 20,134,028 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, 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 September 30, 2023 September 30, 2023 AAA 2,782,091 AA 10,413,097 A 3,804,166 BAA 249,202 Not rated 2,977,517 Total 20,226,073 Historical loss rates associated with securities having similar grades as those in our portfolio have generally not September 30, 2023, no none The following table details activity in the allowance for credit losses on held-to-maturity securities for the three nine September 30, 2023: Three Months Ended Nine Months Ended September 30, 2023 September 30, 2023 Beginning balance $ 50,445 $ - Impact of adopting ASC 326 - 51,990 Credit loss expense 41,600 40,055 Ending balance $ 92,045 $ 92,045 Available for sale securities accrued interest receivable totaled $354,729 and $310,324 and held to maturity securities accrued interest receivable totaled $103,064 and $122,874 as of September 30, 2023 December 31, 2022, Contractual maturities, shown below, will differ from actual maturities because borrowers and issuers may Available for Sale Held to Maturity Amortized Fair Amortized Fair September 30, 2023 cost value cost value Within one year $ 1,509,228 $ 1,453,715 $ - $ - Over one to five years 8,541,532 7,237,103 893,845 863,621 Over five to ten years 816,968 704,917 5,839,636 5,327,247 Over ten years - - 13,492,592 11,786,559 10,867,728 9,395,735 20,226,073 17,977,427 Mortgage-backed securities and SBA pools, due in monthly installments 154,817,547 127,167,485 - - $ 165,685,275 $ 136,563,220 $ 20,226,073 $ 17,977,427 Securities with a carrying value of $49,830,882 and $24,258,980 as of September 30, 2023 December 31, 2022, During the nine September 30, 2023 2022, The following table sets forth the Company’s gross unrealized losses on a continuous basis for investments in available for sale (“AFS”) debt securities, by category and length of time, at September 30, 2023. December 31, 2022 September 30, 2023 Less than 12 months 12 months or more Total Description of investments Fair Value Unrealized Fair Value Unrealized Loss Fair Value Unrealized Loss State and municipal $ 239,978 $ 10,023 $ 231,057 $ 18,942 $ 471,035 $ 28,965 SBA pools - - 700,027 11,577 700,027 11,577 Corporate bonds 336,100 63,900 8,588,600 1,379,128 8,924,700 1,443,028 Mortgage-backed securities 23,495,317 1,155,954 102,842,320 26,484,051 126,337,637 27,640,005 Total $ 24,071,395 $ 1,229,877 $ 112,362,004 $ 27,893,698 $ 136,433,399 $ 29,123,575 December 31, 2022 Less than 12 months 12 months or more Total Unrealized Unrealized Unrealized Description of investments Fair value losses Fair value losses Fair value losses State and municipal $ 13,668,676 $ 1,057,412 $ 1,537,715 $ 593,807 $ 15,206,391 $ 1,651,219 SBA pools - - 857,259 15,234 857,259 15,234 Corporate bonds 4,184,875 356,746 4,805,021 667,504 8,989,896 1,024,250 Mortgage-backed securities 25,284,430 2,293,151 90,068,045 20,250,893 115,352,475 22,544,044 Total $ 43,137,981 $ 3,707,309 $ 97,268,040 $ 21,527,438 $ 140,406,021 $ 25,234,747

Note 4 - Loans and Allowance fo

Note 4 - Loans and Allowance for Credit Losses	9 Months Ended
	Sep. 30, 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: September 30, December 31, 2023 2022 Real estate: Commercial $ 367,260,065 $ 351,794,702 Construction and land development 21,137,478 23,978,373 Residential 112,068,945 114,683,149 Commercial 30,612,786 31,066,497 Consumer 171,426 156,422 531,250,700 521,679,143 Less: Allowance for credit losses 4,516,402 4,150,198 Deferred origination fees net of costs 601,257 608,405 $ 526,133,041 $ 516,920,540 The following tables present the amortized cost basis of loans on nonaccrual status and loans past 90 September 30, 2023 December 31, 2022: Nonaccrual Loans Past With No Due 90 Days Allowance or More and for Credit Loss Nonaccrual Still Accruing September 30, 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 did not nine September 30, 2023 December 31. 2022. At September 30, 2023, one one nine September 30, 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 September 30, 2023 Real estate: Commercial $ - $ 2,014,587 $ 502,961 $ 2,517,548 $ 364,742,517 $ 367,260,065 Construction and land development - - - - 21,137,478 21,137,478 Residential 1,363,125 - - 1,363,125 110,705,820 112,068,945 Commercial - - 152,449 152,449 30,460,337 30,612,786 Consumer - - - - 171,426 171,426 Total $ 1,363,125 $ 2,014,587 $ 655,410 $ 4,033,122 $ 527,217,578 $ 531,250,700 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 September 30, 2023: Real estate: Commercial $ 502,961 Construction and land development - Residential 277,083 Commercial 152,449 Consumer - $ 932,493 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 From time to time, loans to borrowers experiencing financial difficulty may may There were no modifications to borrowers experiencing financial distress during the nine September 30, 2023. Accrued interest receivable on loans totaled $1,508,780 and $1,373,078 at September 30, 2023 December 31, 2022, 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 4. Loans and allowance for credit losses (continued) 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. 4. Loans and allowance for credit losses (continued) Loans by credit grade, segregated by loan type, and year originated as of September 30, 2023 Term Loans Amortized Cost Basis by Origination Revolving 2023 2022 2021 2020 2019 Prior Loans Total Commercial Real Estate Pass $ 25,578,156 $ 73,506,121 $ 55,639,050 $ 20,700,351 $ 27,783,136 $ 151,986,106 $ 2,592,579 $ 357,785,499 Special Mention - - - - - - - - Substandard - - - - - 9,474,566 - 9,474,566 Doubtful - - - - - - - - Total $ 25,578,156 $ 73,506,121 $ 55,639,050 $ 20,700,351 $ 27,783,136 $ 161,460,672 $ 2,592,579 $ 367,260,065 Construction and Land Development Pass $ 3,529,997 $ 6,547,341 $ 4,666,960 $ 1,023,473 $ 310,473 $ 4,563,609 $ 495,625 $ 21,137,478 Special Mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total $ 3,529,997 $ 6,547,341 $ 4,666,960 $ 1,023,473 $ 310,473 $ 4,563,609 $ 495,625 $ 21,137,478 Residential Real Estate Pass $ 8,193,778 $ 19,215,459 $ 10,164,483 $ 7,928,227 $ 16,384,047 $ 41,565,486 $ 6,916,677 $ 110,368,157 Special Mention - - - - - - - - Substandard - - - - - 1,700,788 - 1,700,788 Doubtful - - - - - - - - Total $ 8,193,778 $ 19,215,459 $ 10,164,483 $ 7,928,227 $ 16,384,047 $ 43,266,274 $ 6,916,677 $ 112,068,945 Commercial Pass $ 6,673,664 $ 8,391,841 $ 3,666,005 $ 1,406,393 $ 1,033,154 $ 1,053,104 $ 8,236,176 $ 30,460,337 Special Mention - - - - - - - - Substandard - - - - 152,449 - - 152,449 Doubtful - - - - - - - - Total $ 6,673,664 $ 8,391,841 $ 3,666,005 $ 1,406,393 $ 1,185,603 $ 1,053,104 $ 8,236,176 $ 30,612,786 Consumer Pass $ 61,054 $ 40,655 $ 5,252 $ 5,169 $ 9,850 $ 2 $ 23,000 $ 144,982 Special Mention - - - - - - - - Substandard 11,680 - 1,789 - - - - 13,469 Doubtful - - - - - - 12,975 12,975 Total $ 72,734 $ 40,655 $ 7,041 $ 5,169 $ 9,850 $ 2 $ 35,975 $ 171,426 Aggregate total Pass $ 44,036,649 $ 107,701,417 $ 74,141,750 $ 31,063,613 $ 45,520,660 $ 199,168,307 $ 18,264,057 $ 519,896,453 Special Mention - - - - - - - - Substandard 11,680 - 1,789 - 152,449 11,175,354 - 11,341,272 Doubtful - - - - - - 12,975 12,975 Total $ 44,048,329 $ 107,701,417 $ 74,143,539 $ 31,063,613 $ 45,673,109 $ 210,343,661 $ 18,277,032 $ 531,250,700 4. Loans and allowance for credit losses (continued) December 31, 2022 Excellent Above average Average Acceptable Pass watch Special 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 nine September 30, 2023 2022 December 31, 2022. one not Allowance for credit losses ending balance evaluated for impairment: Outstanding loan balances evaluated: September 30, 2023 Beginning balance Impact of ASC 326 Adoption Provision for (recovery of) credit losses Charge offs Recoveries Ending balance Individually Collectively Individually Collectively Real estate: Commercial $ 2,818,582 $ (350,838 ) $ 132,908 $ - $ - $ 2,600,652 $ 250,000 $ 2,350,652 $ 502,961 $ 366,757,104 Construction and land development 164,596 280,179 (193,495 ) - 11,925 263,205 - 263,205 - 21,137,478 Residential 793,919 538,435 (658,628 ) - 381,048 1,054,774 - 1,054,774 277,083 111,791,862 Commercial 337,303 135,200 4,122 - - 476,625 152,449 324,176 152,449 30,460,337 Consumer 4,706 (4,537 ) 1,739 - - 1,908 - 1,908 - 171,426 Unallocated 31,092 (31,092 ) 119,238 - - 119,238 - 119,238 - - $ 4,150,198 $ 567,347 $ (594,116 ) $ - $ 392,973 $ 4,516,402 $ 402,449 $ 4,113,953 $ 932,493 $ 530,318,207 Allowance for loan losses ending balance evaluated for impairment: Outstanding loan balances evaluated for impairment: Purchase Credit Purchase Credit September 30, 2022 Beginning balance Provision for (recovery of) loan losses Charge offs Recoveries Ending balance Individually Impaired Collectively Individually Impaired Collectively Real estate: Commercial $ 2,482,930 $ 126,385 $ (7,772 ) $ - $ 2,601,543 $ 129,461 $ - $ 2,472,082 $ 7,210,361 $ - $ 335,409,719 Construction and land development 214,547 (69,938 ) - 12,150 156,759 - - 156,759 - - 24,416,365 Residential 603,558 67,729 - - 671,287 - - 671,287 34,954 375,844 113,024,489 Commercial 255,413 35,949 (2,468 ) - 288,894 152,449 - 136,445 152,449 242,382 28,490,571 Consumer 4,370 (383 ) - - 3,987 - - 3,987 - - 368,607 Unallocated 89,450 (64,742 ) - - 24,708 - - 24,708 - - - $ 3,650,268 $ 95,000 $ (10,240 ) $ 12,150 $ 3,747,178 $ 281,910 $ - $ 3,465,268 $ 7,397,764 $ 618,226 $ 501,709,751 4. Loans and allowance for credit losses (continued) 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 307,635 Balance at September 30, 2023 $ 623,338 At September 30, 2023, September 30, 2023, The following table details activity in the allowance for credit losses on unfunded loan commitments: 2023 Balance at December 31, 2022 $ - Impact of adopting ASC 326 85,073 Credit loss recovery (15,939 ) Balance at September 30, 2023 $ 69,134 The following table provides a summary of all of the components of the allowance for credit losses: Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 Held to maturity securities Loans Unfunded loan commitments Total Held to maturity securities Loans Unfunded loan commitments Total Beginning balance $ 50,445 $ 4,646,836 $ 49,300 $ 4,746,581 $ - $ 4,150,198 $ - $ 4,150,198 Impact of adopting ASC 326 - - - - 51,990 567,347 85,073 704,410 Provision (recovery) of credit losses 41,600 (136,434 ) 19,834 (75,000 ) 40,055 (594,116 ) (15,939 ) (570,000 ) Charge-offs - - - - - - - - Recoveries - 6,000 - 6,000 - 392,973 - 392,973 Ending balance $ 92,045 $ 4,516,402 $ 69,134 $ 4,677,581 $ 92,045 $ 4,516,402 $ 69,134 $ 4,677,581

Note 5 - Goodwill and Other Int

Note 5 - Goodwill and Other Intangibles	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	5. Goodwill and Other Intangibles The Company’s 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 - (6,246 ) (6,246 ) Balance at September 30, 2023 $ 6,978,208 $ 58,298 $ 7,036,506 The CDI is being amortized over 10 years on a straight-line basis. Annual amortization will be $8,328 per year through year nine 10. not

Note 6 - Capital Standards

Note 6 - Capital Standards	9 Months Ended
	Sep. 30, 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 September 30, 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 6. Capital Standards (continued) The following table presents actual and required capital ratios as of September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022 Minimum To Be Well (Dollars in thousands) Actual Capital Adequacy Capitalized September 30, 2023 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 79,714 12.86 % $ 65,080 10.50 % $ 61,981 10.00 % Tier 1 capital (to risk-weighted assets) 75,037 12.11 % 52,684 8.50 % 49,585 8.00 % Common equity tier 1 (to risk- weighted assets) 75,037 12.11 % 43,387 7.00 % 40,288 6.50 % Tier 1 leverage (to average assets) 75,037 9.91 % 30,295 4.00 % 37,869 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 September 30, 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	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	7. Derivative Financial Instruments 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 $34.8 million as of September 30, 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 September 30, 2023: Line Item in the Balance Sheet in Which the Hedged Item is Included Carrying Amount of the Hedged Assets September 30, 2023 Cumulative Amount of Fair Value Hedging Adjustment September 30, 2023 Securities available for sale $ 46,052,766 $ 559,259 The Company presents derivative positions gross on the balance sheet. The following table reflects the derivatives recorded on the balance sheet as of September 30, 2023: September 30, 2023 Fair Value Included in other assets: Derivatives designated as hedges: Interest rate swaps related to securities available for sale $ 714,649 Total included in other assets $ 714,649 Included in other liabilities: Derivatives designated as hedges: Interest rate swaps related to securities available for sale $ 127,257 Total included in other liabilities $ 127,257 The effect of fair value hedge accounting on the statement of income for the three nine September 30, 2023 Location and Amount of Gain or Loss Recognized in Income on Fair Value Hedging Relationships Total amounts of income and expense line items presented in the statements of income in which the effects of the fair value hedge is recorded are as follows: Three Months Ended Nine Months Ended Interest Interest Income Income The effects of fair value hedging: Gain on fair value hedging relationships: Hedged items $ 60,846 $ 28,133 Interest rate contracts designated as hedging instruments 66,921 141,375 Net gain on fair value hedging relationships included in interest income from fedral funds sold and other interest earning assets $ 127,767 $ 169,508

Note 8 - Fair Value

Note 8 - Fair Value	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Fair Value Disclosures [Text Block]	8. Fair Value In accordance with ASC Topic 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. Because the market for collateral-dependent loans is not 3. third ● Fair value hedges: The market value based on independent third The following table summarizes financial assets measured at fair value on a recurring and nonrecurring basis as of September 30, 2023 December 31, 2022, Carrying Value: September 30, 2023 Level 1 Level 2 Level 3 Total Recurring: Available for sale securities State and municipal $ - $ 471,035 $ - $ 471,035 SBA pools - 829,848 - 829,848 Corporate bonds - 8,924,700 - 8,924,700 Mortgage-backed securities - 126,337,637 - 126,337,637 $ - $ 136,563,220 $ - $ 136,563,220 Fair value hedge $ - $ 587,392 $ - $ 587,392 Equity security at fair value Mutual fund $ 482,907 $ - $ - $ 482,907 Nonrecurring: Other real estate owned, net $ - $ - $ 1,242,365 $ 1,242,365 Collateral-dependent loans, net $ - $ - $ 530,044 $ 530,044 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 Impaired loans, net - - 373,500 373,500 The following table provides information describing the unobservable inputs used in level 3 September 30, 2023 December 31, 2022: September 30, 2023: Assets Fair Value Valuation Technique Unobservable Inputs Range (Average) Collateral-dependent loans $ 530,044 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 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 Transfer to level 2 (400,000 ) September 30, 2023 fair value $ - The transfer to level 2 third September 30, 2023. The estimated fair value of financial instruments that are reported at amortized cost less allowance for credit losses in the Company’s consolidated balance sheets, segregated by the level of the valuation inputs were as follows: September 30, 2023 December 31, 2022 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets Level 1 inputs Cash and cash equivalents $ 25,011,678 $ 25,011,678 $ 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 2,018,786 2,018,786 1,815,784 1,815,784 Securities available for sale 136,563,220 136,563,220 126,314,449 126,314,449 Securities held to maturity 17,205,828 15,049,227 17,537,377 15,908,175 Equity security 482,907 482,907 489,145 489,145 Mortgage loans held for sale - - 428,355 434,271 Restricted stock, at cost 863,500 863,500 1,332,500 1,332,500 Bank owned life insurance 14,846,937 14,846,937 14,585,342 14,585,342 Fair value hedge 714,649 714,649 - - Level 3 inputs Securities held to maturity 2,928,200 2,928,200 2,971,620 2,971,620 Loans, net 526,133,041 512,295,742 516,920,540 503,144,771 Financial liabilities Level 1 inputs Noninterest-bearing deposits $ 113,326,966 $ 113,326,966 $ 126,695,349 $ 126,695,349 Securities sold under repurchase agreements 5,357,674 5,357,674 5,175,303 5,175,303 Level 2 inputs Interest-bearing deposits 530,935,768 528,340,768 496,915,775 492,769,775 Federal Home Loan Bank advances 5,000,000 4,770,000 20,000,000 19,622,000 Federal Reserve Bank advances 33,000,000 32,944,196 - - Long-term debt, net 13,683,195 12,659,692 15,095,642 14,241,237 Accrued interest payable 1,491,099 1,491,099 349,910 349,910 Fair value hedge 127,257 127,257 - -

Note 9 - Earnings Per Share

Note 9 - Earnings Per Share	9 Months Ended
	Sep. 30, 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 The following table shows the weighted average number of shares used in computing earnings per share and the effect of weighted average number of shares of dilutive potential common stock. Dilutive potential common stock has no September 30, 2023 September 30, 2022. Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Net income $ 1,432,139 $ 1,974,310 $ 5,003,107 $ 6,075,845 Weighted average shares outstanding 3,090,542 3,053,487 3,078,429 3,043,006 Earnings per share - basic and diluted $ 0.46 $ 0.65 $ 1.63 $ 2.00

Note 10 - Retirement Plans

Note 10 - Retirement Plans	9 Months Ended
	Sep. 30, 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 September 30, 2023 2022, nine September 30, 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 September 30, 2023 2022, nine September 30, 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 on December 31, 2022 2023. three September 30, 2022, nine September 30, 2023 2022, three September 30, 2023. Retirement plan expenses are included in employee benefits on the consolidated statements of income.

Note 11 - Borrowed Funds

Note 11 - Borrowed Funds	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Debt Disclosure [Text Block]	11. Borrowed Funds Borrowed funds consist of securities sold under repurchase agreements, which represent overnight or term borrowings from customers, advances from the Federal Home Loan Bank of Atlanta (“FHLB”), advances from the Federal Reserve Bank of Richmond (“FRB”), term borrowings from a commercial bank, and overnight borrowings from commercial banks. Additional information is as follows: September 30, December 31, 2023 2022 Amount oustanding at period-end: Securities sold under repurchase agreements $ 5,357,674 $ 5,175,303 Federal Home Loan Bank advances 5,000,000 20,000,000 Federal Home Loan Bank advances mature in: 2023 - 15,000,000 2025 5,000,000 5,000,000 Federal Reserve Bank advances mature in: 2024 33,000,000 - Long-term debt (net of issuance costs) 13,683,195 15,095,642 Weighted average rate paid at period-end: Securites sold under repurchase agreements 1.25 % 0.30 % Federal Home Loan Bank advances 1.01 % 1.55 % Federal Reserve Bank advances 5.43 % 0.00 % Long-term debt 4.10 % 4.10 % The Bank is approved to borrow 75% of eligible pledged single-family residential loans and 50% of eligible pledged commercial loans as well as investment securities, or approximately $66.0 million under a secured line of credit with the FHLB. The Bank also has two first 10 second 2023. one FHLB advances of $5,000,000 and $20,000,000 were outstanding as of September 30, 2023 December 31, 2022, September 30, 2023 December 31, 2022, 2020. September 30, 2023 December 31, 2022.

Note 12 - Stock-based Compensat

Note 12 - Stock-based Compensation	9 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	12. Stock-Based Compensation On August 22, 2023, 2023 three September 30, 2023, one The compensation cost charged to income in respect of awards granted under the Plan was $38,250 for the three nine September 30, 2023.

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 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 Financial Accounting Standards Board (“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. September 30, 2023, In December 2022, 2022 06, 848 848”. 2022 06 848. 848 848 2021, September 30, 2023. 848 may 848 December 31, 2022 December 31, 2024, no 848. September 30, 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, not In March 2022, 2022 01, 815 2022 01 815 2017, 2017 12 one not 2022 01 2022 01 January 1, 2023. Summary of Significant Accounting Policies There have been no 10 December 31, 2022 Allowance for Credit Losses. As further discussed below, we adopted ASU 2016 13, 326 January 1, 2023. 326 326, January 1, 2023 326, January 1, 2023 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 Topic 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 Topic 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 that 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 utilizes 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 across this length of time helps to incorporate results recognized across the full economic cycle and smooth periods of economic recession and recovery. The Company 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 Topic 326, No The table below provides the impact of the implementation of ASC Topic 326: December 31, 2022 January 1, 2023 Pre-ASC 326 Impact of ASC As Reported Assets: Loans, gross $ 521,679,143 $ 233,411 $ 521,912,554 Allowance for credit losses: Loans: Real estate: Commercial 2,818,582 (350,838 ) 2,467,744 Construction and land development 164,596 280,179 444,775 Residential 793,919 538,435 1,332,354 Commercial 337,303 135,200 472,503 Consumer 4,706 (4,537 ) 169 Unallocated 31,092 (31,092 ) - Allowance for credit losses on loans 4,150,198 567,347 4,717,545 Loans, net 517,528,945 (333,936 ) 517,195,009 Allowance for credit losses on debt securities held to maturity - 51,990 51,990 Net deferred tax asset - 129,607 129,607 Liabilities: Allowance for credit losses on off balance sheet credit exposures - 85,073 85,073 Total equity $ 49,834,244 $ (341,392 ) $ 49,492,852 Derivative Financial Instruments: At the inception of a derivative contract, the Company designates the derivative as one three three 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. Stock-based Compensation: The Company recognizes in the income statement the grant date fair value of stock awards, restricted stock and restricted stock units. The fair value related to forfeitures of stock awards, restricted stock and restricted stock units are recorded to the income statement as they occur, reducing stock-based compensation expense in that period. The Company classifies stock-based compensation as either an equity award or a liability award. Equity classified awards are valued as of the grant date using either an observable market price or a valuation methodology. Liability classified awards are valued at fair value at each reporting date. For the periods presented, all of the Company's stock awards, restricted stock, and restricted stock units are classified as equity awards. During the third 2023, 2023 The Company’s stock-based compensation is described more fully in Note 12. Management believes that 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)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Accounting Standards Update and Change in Accounting Principle [Table Text Block]	December 31, 2022 January 1, 2023 Pre-ASC 326 Impact of ASC As Reported Assets: Loans, gross $ 521,679,143 $ 233,411 $ 521,912,554 Allowance for credit losses: Loans: Real estate: Commercial 2,818,582 (350,838 ) 2,467,744 Construction and land development 164,596 280,179 444,775 Residential 793,919 538,435 1,332,354 Commercial 337,303 135,200 472,503 Consumer 4,706 (4,537 ) 169 Unallocated 31,092 (31,092 ) - Allowance for credit losses on loans 4,150,198 567,347 4,717,545 Loans, net 517,528,945 (333,936 ) 517,195,009 Allowance for credit losses on debt securities held to maturity - 51,990 51,990 Net deferred tax asset - 129,607 129,607 Liabilities: Allowance for credit losses on off balance sheet credit exposures - 85,073 85,073 Total equity $ 49,834,244 $ (341,392 ) $ 49,492,852

Note 3 - Investment Securities

Note 3 - Investment Securities (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Marketable Securities [Table Text Block]	Amortized Unrealized Unrealized Fair Allowance for Net Carrying September 30, 2023 cost gains losses value Credit Losses Amount Available for sale State and municipal $ 500,000 $ - $ 28,965 $ 471,035 $ - $ 471,035 SBA pools 839,905 1,520 11,577 829,848 - 829,848 Corporate bonds 10,367,728 - 1,443,028 8,924,700 - 8,924,700 Mortgage-backed securities 153,977,642 - 27,640,005 126,337,637 - 126,337,637 $ 165,685,275 $ 1,520 $ 29,123,575 $ 136,563,220 $ - $ 136,563,220 Held to maturity State and municipal $ 20,226,073 $ - $ 2,248,646 $ 17,977,427 $ 92,045 $ 20,134,028 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]	September 30, 2023 AAA 2,782,091 AA 10,413,097 A 3,804,166 BAA 249,202 Not rated 2,977,517 Total 20,226,073
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Table Text Block]	Three Months Ended Nine Months Ended September 30, 2023 September 30, 2023 Beginning balance $ 50,445 $ - Impact of adopting ASC 326 - 51,990 Credit loss expense 41,600 40,055 Ending balance $ 92,045 $ 92,045
Investments Classified by Contractual Maturity Date [Table Text Block]	Available for Sale Held to Maturity Amortized Fair Amortized Fair September 30, 2023 cost value cost value Within one year $ 1,509,228 $ 1,453,715 $ - $ - Over one to five years 8,541,532 7,237,103 893,845 863,621 Over five to ten years 816,968 704,917 5,839,636 5,327,247 Over ten years - - 13,492,592 11,786,559 10,867,728 9,395,735 20,226,073 17,977,427 Mortgage-backed securities and SBA pools, due in monthly installments 154,817,547 127,167,485 - - $ 165,685,275 $ 136,563,220 $ 20,226,073 $ 17,977,427
Schedule of Unrealized Loss on Investments [Table Text Block]	September 30, 2023 Less than 12 months 12 months or more Total Description of investments Fair Value Unrealized Fair Value Unrealized Loss Fair Value Unrealized Loss State and municipal $ 239,978 $ 10,023 $ 231,057 $ 18,942 $ 471,035 $ 28,965 SBA pools - - 700,027 11,577 700,027 11,577 Corporate bonds 336,100 63,900 8,588,600 1,379,128 8,924,700 1,443,028 Mortgage-backed securities 23,495,317 1,155,954 102,842,320 26,484,051 126,337,637 27,640,005 Total $ 24,071,395 $ 1,229,877 $ 112,362,004 $ 27,893,698 $ 136,433,399 $ 29,123,575 December 31, 2022 Less than 12 months 12 months or more Total Unrealized Unrealized Unrealized Description of investments Fair value losses Fair value losses Fair value losses State and municipal $ 13,668,676 $ 1,057,412 $ 1,537,715 $ 593,807 $ 15,206,391 $ 1,651,219 SBA pools - - 857,259 15,234 857,259 15,234 Corporate bonds 4,184,875 356,746 4,805,021 667,504 8,989,896 1,024,250 Mortgage-backed securities 25,284,430 2,293,151 90,068,045 20,250,893 115,352,475 22,544,044 Total $ 43,137,981 $ 3,707,309 $ 97,268,040 $ 21,527,438 $ 140,406,021 $ 25,234,747

Note 4 - Loans and Allowance _2

Note 4 - Loans and Allowance for Credit Losses (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	September 30, December 31, 2023 2022 Real estate: Commercial $ 367,260,065 $ 351,794,702 Construction and land development 21,137,478 23,978,373 Residential 112,068,945 114,683,149 Commercial 30,612,786 31,066,497 Consumer 171,426 156,422 531,250,700 521,679,143 Less: Allowance for credit losses 4,516,402 4,150,198 Deferred origination fees net of costs 601,257 608,405 $ 526,133,041 $ 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 September 30, 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 September 30, 2023 Real estate: Commercial $ - $ 2,014,587 $ 502,961 $ 2,517,548 $ 364,742,517 $ 367,260,065 Construction and land development - - - - 21,137,478 21,137,478 Residential 1,363,125 - - 1,363,125 110,705,820 112,068,945 Commercial - - 152,449 152,449 30,460,337 30,612,786 Consumer - - - - 171,426 171,426 Total $ 1,363,125 $ 2,014,587 $ 655,410 $ 4,033,122 $ 527,217,578 $ 531,250,700 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 277,083 Commercial 152,449 Consumer - $ 932,493
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 Revolving 2023 2022 2021 2020 2019 Prior Loans Total Commercial Real Estate Pass $ 25,578,156 $ 73,506,121 $ 55,639,050 $ 20,700,351 $ 27,783,136 $ 151,986,106 $ 2,592,579 $ 357,785,499 Special Mention - - - - - - - - Substandard - - - - - 9,474,566 - 9,474,566 Doubtful - - - - - - - - Total $ 25,578,156 $ 73,506,121 $ 55,639,050 $ 20,700,351 $ 27,783,136 $ 161,460,672 $ 2,592,579 $ 367,260,065 Construction and Land Development Pass $ 3,529,997 $ 6,547,341 $ 4,666,960 $ 1,023,473 $ 310,473 $ 4,563,609 $ 495,625 $ 21,137,478 Special Mention - - - - - - - - Substandard - - - - - - - - Doubtful - - - - - - - - Total $ 3,529,997 $ 6,547,341 $ 4,666,960 $ 1,023,473 $ 310,473 $ 4,563,609 $ 495,625 $ 21,137,478 Residential Real Estate Pass $ 8,193,778 $ 19,215,459 $ 10,164,483 $ 7,928,227 $ 16,384,047 $ 41,565,486 $ 6,916,677 $ 110,368,157 Special Mention - - - - - - - - Substandard - - - - - 1,700,788 - 1,700,788 Doubtful - - - - - - - - Total $ 8,193,778 $ 19,215,459 $ 10,164,483 $ 7,928,227 $ 16,384,047 $ 43,266,274 $ 6,916,677 $ 112,068,945 Commercial Pass $ 6,673,664 $ 8,391,841 $ 3,666,005 $ 1,406,393 $ 1,033,154 $ 1,053,104 $ 8,236,176 $ 30,460,337 Special Mention - - - - - - - - Substandard - - - - 152,449 - - 152,449 Doubtful - - - - - - - - Total $ 6,673,664 $ 8,391,841 $ 3,666,005 $ 1,406,393 $ 1,185,603 $ 1,053,104 $ 8,236,176 $ 30,612,786 Consumer Pass $ 61,054 $ 40,655 $ 5,252 $ 5,169 $ 9,850 $ 2 $ 23,000 $ 144,982 Special Mention - - - - - - - - Substandard 11,680 - 1,789 - - - - 13,469 Doubtful - - - - - - 12,975 12,975 Total $ 72,734 $ 40,655 $ 7,041 $ 5,169 $ 9,850 $ 2 $ 35,975 $ 171,426 Aggregate total Pass $ 44,036,649 $ 107,701,417 $ 74,141,750 $ 31,063,613 $ 45,520,660 $ 199,168,307 $ 18,264,057 $ 519,896,453 Special Mention - - - - - - - - Substandard 11,680 - 1,789 - 152,449 11,175,354 - 11,341,272 Doubtful - - - - - - 12,975 12,975 Total $ 44,048,329 $ 107,701,417 $ 74,143,539 $ 31,063,613 $ 45,673,109 $ 210,343,661 $ 18,277,032 $ 531,250,700 December 31, 2022 Excellent Above average Average Acceptable Pass watch Special 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 balance evaluated for impairment: Outstanding loan balances evaluated: September 30, 2023 Beginning balance Impact of ASC 326 Adoption Provision for (recovery of) credit losses Charge offs Recoveries Ending balance Individually Collectively Individually Collectively Real estate: Commercial $ 2,818,582 $ (350,838 ) $ 132,908 $ - $ - $ 2,600,652 $ 250,000 $ 2,350,652 $ 502,961 $ 366,757,104 Construction and land development 164,596 280,179 (193,495 ) - 11,925 263,205 - 263,205 - 21,137,478 Residential 793,919 538,435 (658,628 ) - 381,048 1,054,774 - 1,054,774 277,083 111,791,862 Commercial 337,303 135,200 4,122 - - 476,625 152,449 324,176 152,449 30,460,337 Consumer 4,706 (4,537 ) 1,739 - - 1,908 - 1,908 - 171,426 Unallocated 31,092 (31,092 ) 119,238 - - 119,238 - 119,238 - - $ 4,150,198 $ 567,347 $ (594,116 ) $ - $ 392,973 $ 4,516,402 $ 402,449 $ 4,113,953 $ 932,493 $ 530,318,207 Allowance for loan losses ending balance evaluated for impairment: Outstanding loan balances evaluated for impairment: Purchase Credit Purchase Credit September 30, 2022 Beginning balance Provision for (recovery of) loan losses Charge offs Recoveries Ending balance Individually Impaired Collectively Individually Impaired Collectively Real estate: Commercial $ 2,482,930 $ 126,385 $ (7,772 ) $ - $ 2,601,543 $ 129,461 $ - $ 2,472,082 $ 7,210,361 $ - $ 335,409,719 Construction and land development 214,547 (69,938 ) - 12,150 156,759 - - 156,759 - - 24,416,365 Residential 603,558 67,729 - - 671,287 - - 671,287 34,954 375,844 113,024,489 Commercial 255,413 35,949 (2,468 ) - 288,894 152,449 - 136,445 152,449 242,382 28,490,571 Consumer 4,370 (383 ) - - 3,987 - - 3,987 - - 368,607 Unallocated 89,450 (64,742 ) - - 24,708 - - 24,708 - - - $ 3,650,268 $ 95,000 $ (10,240 ) $ 12,150 $ 3,747,178 $ 281,910 $ - $ 3,465,268 $ 7,397,764 $ 618,226 $ 501,709,751 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 2023 Balance at December 31, 2022 $ - Impact of adopting ASC 326 85,073 Credit loss recovery (15,939 ) Balance at September 30, 2023 $ 69,134
Accretable Yield of Purchased Loans [Table Text Block]	2023 Balance at December 31, 2022 $ 930,973 Accretion 307,635 Balance at September 30, 2023 $ 623,338
Components of Allowance for Credit Losses [Table Text Block]	Three Months Ended September 30, 2023 Nine Months Ended September 30, 2023 Held to maturity securities Loans Unfunded loan commitments Total Held to maturity securities Loans Unfunded loan commitments Total Beginning balance $ 50,445 $ 4,646,836 $ 49,300 $ 4,746,581 $ - $ 4,150,198 $ - $ 4,150,198 Impact of adopting ASC 326 - - - - 51,990 567,347 85,073 704,410 Provision (recovery) of credit losses 41,600 (136,434 ) 19,834 (75,000 ) 40,055 (594,116 ) (15,939 ) (570,000 ) Charge-offs - - - - - - - - Recoveries - 6,000 - 6,000 - 392,973 - 392,973 Ending balance $ 92,045 $ 4,516,402 $ 69,134 $ 4,677,581 $ 92,045 $ 4,516,402 $ 69,134 $ 4,677,581

Note 5 - Goodwill and Other I_2

Note 5 - Goodwill and Other Intangibles (Tables)	9 Months Ended
	Sep. 30, 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 - (6,246 ) (6,246 ) Balance at September 30, 2023 $ 6,978,208 $ 58,298 $ 7,036,506

Note 6 - Capital Standards (Tab

Note 6 - Capital Standards (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2023 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 79,714 12.86 % $ 65,080 10.50 % $ 61,981 10.00 % Tier 1 capital (to risk-weighted assets) 75,037 12.11 % 52,684 8.50 % 49,585 8.00 % Common equity tier 1 (to risk- weighted assets) 75,037 12.11 % 43,387 7.00 % 40,288 6.50 % Tier 1 leverage (to average assets) 75,037 9.91 % 30,295 4.00 % 37,869 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)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	Line Item in the Balance Sheet in Which the Hedged Item is Included Carrying Amount of the Hedged Assets September 30, 2023 Cumulative Amount of Fair Value Hedging Adjustment September 30, 2023 Securities available for sale $ 46,052,766 $ 559,259 September 30, 2023 Fair Value Included in other assets: Derivatives designated as hedges: Interest rate swaps related to securities available for sale $ 714,649 Total included in other assets $ 714,649 Included in other liabilities: Derivatives designated as hedges: Interest rate swaps related to securities available for sale $ 127,257 Total included in other liabilities $ 127,257
Derivative Instruments, Gain (Loss) [Table Text Block]	Location and Amount of Gain or Loss Recognized in Income on Fair Value Hedging Relationships Total amounts of income and expense line items presented in the statements of income in which the effects of the fair value hedge is recorded are as follows: Three Months Ended Nine Months Ended Interest Interest Income Income The effects of fair value hedging: Gain on fair value hedging relationships: Hedged items $ 60,846 $ 28,133 Interest rate contracts designated as hedging instruments 66,921 141,375 Net gain on fair value hedging relationships included in interest income from fedral funds sold and other interest earning assets $ 127,767 $ 169,508

Note 8 - Fair Value (Tables)

Note 8 - Fair Value (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	Carrying Value: September 30, 2023 Level 1 Level 2 Level 3 Total Recurring: Available for sale securities State and municipal $ - $ 471,035 $ - $ 471,035 SBA pools - 829,848 - 829,848 Corporate bonds - 8,924,700 - 8,924,700 Mortgage-backed securities - 126,337,637 - 126,337,637 $ - $ 136,563,220 $ - $ 136,563,220 Fair value hedge $ - $ 587,392 $ - $ 587,392 Equity security at fair value Mutual fund $ 482,907 $ - $ - $ 482,907 Nonrecurring: Other real estate owned, net $ - $ - $ 1,242,365 $ 1,242,365 Collateral-dependent loans, net $ - $ - $ 530,044 $ 530,044 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 Impaired loans, net - - 373,500 373,500
Fair Value Measurements, Nonrecurring [Table Text Block]	September 30, 2023: Assets Fair Value Valuation Technique Unobservable Inputs Range (Average) Collateral-dependent loans $ 530,044 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 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 Transfer to level 2 (400,000 ) September 30, 2023 fair value $ -
Fair Value, by Balance Sheet Grouping [Table Text Block]	September 30, 2023 December 31, 2022 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets Level 1 inputs Cash and cash equivalents $ 25,011,678 $ 25,011,678 $ 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 2,018,786 2,018,786 1,815,784 1,815,784 Securities available for sale 136,563,220 136,563,220 126,314,449 126,314,449 Securities held to maturity 17,205,828 15,049,227 17,537,377 15,908,175 Equity security 482,907 482,907 489,145 489,145 Mortgage loans held for sale - - 428,355 434,271 Restricted stock, at cost 863,500 863,500 1,332,500 1,332,500 Bank owned life insurance 14,846,937 14,846,937 14,585,342 14,585,342 Fair value hedge 714,649 714,649 - - Level 3 inputs Securities held to maturity 2,928,200 2,928,200 2,971,620 2,971,620 Loans, net 526,133,041 512,295,742 516,920,540 503,144,771 Financial liabilities Level 1 inputs Noninterest-bearing deposits $ 113,326,966 $ 113,326,966 $ 126,695,349 $ 126,695,349 Securities sold under repurchase agreements 5,357,674 5,357,674 5,175,303 5,175,303 Level 2 inputs Interest-bearing deposits 530,935,768 528,340,768 496,915,775 492,769,775 Federal Home Loan Bank advances 5,000,000 4,770,000 20,000,000 19,622,000 Federal Reserve Bank advances 33,000,000 32,944,196 - - Long-term debt, net 13,683,195 12,659,692 15,095,642 14,241,237 Accrued interest payable 1,491,099 1,491,099 349,910 349,910 Fair value hedge 127,257 127,257 - -

Note 9 - Earnings Per Share (Ta

Note 9 - Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Net income $ 1,432,139 $ 1,974,310 $ 5,003,107 $ 6,075,845 Weighted average shares outstanding 3,090,542 3,053,487 3,078,429 3,043,006 Earnings per share - basic and diluted $ 0.46 $ 0.65 $ 1.63 $ 2.00

Note 11 - Borrowed Funds (Table

Note 11 - Borrowed Funds (Tables)	9 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Long-Term Debt Instruments [Table Text Block]	September 30, December 31, 2023 2022 Amount oustanding at period-end: Securities sold under repurchase agreements $ 5,357,674 $ 5,175,303 Federal Home Loan Bank advances 5,000,000 20,000,000 Federal Home Loan Bank advances mature in: 2023 - 15,000,000 2025 5,000,000 5,000,000 Federal Reserve Bank advances mature in: 2024 33,000,000 - Long-term debt (net of issuance costs) 13,683,195 15,095,642 Weighted average rate paid at period-end: Securites sold under repurchase agreements 1.25 % 0.30 % Federal Home Loan Bank advances 1.01 % 1.55 % Federal Reserve Bank advances 5.43 % 0.00 % Long-term debt 4.10 % 4.10 %

Note 1 - Principles of Consol_2

Note 1 - Principles of Consolidation (Details Textual)	9 Months Ended
	Sep. 30, 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 ($)	Sep. 30, 2023	Jun. 30, 2023	Jan. 01, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Equity, Attributable to Parent	$ 48,261,936	$ 49,834,244	$ 49,492,852	$ 47,774,963	$ 45,842,908	$ 48,188,980	$ 56,621,458
Accounting Standards Update 2016-13 [Member]
Equity, Attributable to Parent				49,834,244
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Allowance for Credit Loss, Including Loans, Securities and Unfunded Loan Commitments			704,410
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 ($)	Sep. 30, 2023	Jun. 30, 2023	Jan. 01, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Loans, gross	$ 531,250,700		$ 521,912,554	$ 521,679,143
Loans, allowance for credit loss	4,516,402		4,717,545	4,150,198	$ 3,747,178		$ 3,650,268
Loans, net	526,133,041		517,195,009	516,920,540
Held-to-Maturity, Allowance for Credit Loss	92,045	$ 50,445	51,990	0
Net deferred tax asset			129,607
Allowance for credit losses on off balance sheet credit exposures	69,134		85,073	0
Total equity	48,261,936	49,834,244	49,492,852	47,774,963	45,842,908	$ 48,188,980	56,621,458
Commercial Real Estate Portfolio Segment [Member]
Loans, gross	367,260,065			351,794,702
Loans, allowance for credit loss	2,600,652		2,467,744	2,818,582	2,601,543		2,482,930
Construction and Land Development [Member]
Loans, gross	21,137,478			23,978,373
Loans, allowance for credit loss	263,205		444,775	164,596	156,759		214,547
Residential Portfolio Segment [Member]
Loans, gross	112,068,945			114,683,149
Loans, allowance for credit loss	1,054,774		1,332,354	793,919	671,287		603,558
Commercial Portfolio Segment [Member]
Loans, gross	30,612,786			31,066,497
Loans, allowance for credit loss	476,625		472,503	337,303	288,894		255,413
Consumer Portfolio Segment [Member]
Loans, gross	171,426			156,422
Loans, allowance for credit loss	1,908		169	4,706	3,987		4,370
Unallocated Financing Receivables [Member]
Loans, allowance for credit loss	$ 119,238		0	31,092	$ 24,708		$ 89,450
Accounting Standards Update 2016-13 [Member]
Loans, gross				521,679,143
Loans, allowance for credit loss				4,150,198
Loans, net				517,528,945
Held-to-Maturity, Allowance for Credit Loss				0
Net deferred tax asset				0
Allowance for credit losses on off balance sheet credit exposures				0
Total equity				49,834,244
Accounting Standards Update 2016-13 [Member] | Commercial Real Estate Portfolio Segment [Member]
Loans, allowance for credit loss				2,818,582
Accounting Standards Update 2016-13 [Member] | Construction and Land Development [Member]
Loans, allowance for credit loss				164,596
Accounting Standards Update 2016-13 [Member] | Residential Portfolio Segment [Member]
Loans, allowance for credit loss				793,919
Accounting Standards Update 2016-13 [Member] | Commercial Portfolio Segment [Member]
Loans, allowance for credit loss				337,303
Accounting Standards Update 2016-13 [Member] | Consumer Portfolio Segment [Member]
Loans, allowance for credit loss				4,706
Accounting Standards Update 2016-13 [Member] | Unallocated Financing Receivables [Member]
Loans, allowance for credit loss				31,092
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Loans, gross			233,411
Loans, allowance for credit loss			567,347	567,347
Loans, net			(333,936)
Held-to-Maturity, Allowance for Credit Loss		$ 0	51,990	51,990
Net deferred tax asset			129,607
Allowance for credit losses on off balance sheet credit exposures			85,073	85,073
Total equity			(341,392)	(341,392)
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Commercial Real Estate Portfolio Segment [Member]
Loans, allowance for credit loss			(350,838)	(350,838)
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Construction and Land Development [Member]
Loans, allowance for credit loss			280,179	280,179
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Residential Portfolio Segment [Member]
Loans, allowance for credit loss			538,435	538,435
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Commercial Portfolio Segment [Member]
Loans, allowance for credit loss			135,200	135,200
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Consumer Portfolio Segment [Member]
Loans, allowance for credit loss			(4,537)	(4,537)
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [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 ($)	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss	$ 354,729		$ 310,324
Debt Securities, Held-to-Maturity, Accrued Interest, after Allowance for Credit Loss	103,064		122,874
Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-Sale	9,033,423	$ 15,121,772
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	$ 49,830,882		$ 24,258,980

Note 3 - Investment Securitie_3

Note 3 - Investment Securities - Investments in Debt Securities (Details) - USD ($)	Sep. 30, 2023	Jun. 30, 2023	Jan. 01, 2023	Dec. 31, 2022
Amortized cost, available for sale	$ 165,685,275			$ 149,914,393
Unrealized gains, available for sale	1,520			1,425
Unrealized losses, available for sale	29,123,575			23,601,369
Fair value, available for sale	136,563,220			126,314,449
AFS, allowance for credit loss	0
AFS, net	136,563,220
Held To Maturity Securities	20,226,073
Fair value, held to maturity	17,977,427
HTM, allowance for credit loss	92,045	$ 50,445	$ 51,990	0
HTM, net	20,134,028			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	0			0
Unrealized losses, available for sale	28,965			17,841
Fair value, available for sale	471,035			552,281
AFS, allowance for credit loss	0
AFS, net	471,035
Held To Maturity Securities	20,226,073			20,508,997
Unrealized gains, held to maturity	0			4,176
Unrealized losses, held to maturity	2,248,646			1,633,378
Fair value, held to maturity	17,977,427			18,879,795
HTM, allowance for credit loss	92,045
HTM, net	20,134,028
SBA Pools [Member]
Amortized cost, available for sale	839,905			1,033,606
Unrealized gains, available for sale	1,520			1,425
Unrealized losses, available for sale	11,577			15,234
Fair value, available for sale	829,848			1,019,797
AFS, allowance for credit loss	0
AFS, net	829,848
Corporate Debt Securities [Member]
Amortized cost, available for sale	10,367,728			10,414,146
Unrealized gains, available for sale	0			0
Unrealized losses, available for sale	1,443,028			1,024,250
Fair value, available for sale	8,924,700			9,389,896
AFS, allowance for credit loss	0
AFS, net	8,924,700
Collateralized Mortgage-Backed Securities [Member]
Amortized cost, available for sale	153,977,642			137,896,519
Unrealized gains, available for sale	0			0
Unrealized losses, available for sale	27,640,005			22,544,044
Fair value, available for sale	126,337,637			$ 115,352,475
AFS, allowance for credit loss	0
AFS, net	$ 126,337,637

Note 3 - Investment Securitie_4

Note 3 - Investment Securities - Rating for Held to Maturity Securities (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Held To Maturity Securities	$ 20,226,073
US States and Political Subdivisions Debt Securities [Member]
Held To Maturity Securities	20,226,073	$ 20,508,997
Standard & Poor's, AAA Rating [Member] | US States and Political Subdivisions Debt Securities [Member]
Held To Maturity Securities	2,782,091
Standard & Poor's, AA Rating [Member] | US States and Political Subdivisions Debt Securities [Member]
Held To Maturity Securities	10,413,097
Standard & Poor's, A Rating [Member] | US States and Political Subdivisions Debt Securities [Member]
Held To Maturity Securities	3,804,166
Standard & Poor's, BAA Rating [Member] | US States and Political Subdivisions Debt Securities [Member]
Held To Maturity Securities	249,202
Not Rated [Member] | US States and Political Subdivisions Debt Securities [Member]
Held To Maturity Securities	$ 2,977,517

Note 3 - Investment Securitie_5

Note 3 - Investment Securities - Allowance for Credit Loss on Held to Maturity Securities (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Beginning balance	$ 50,445	$ 0
Credit loss expense	41,600	40,055
Ending balance	92,045	92,045
Accounting Standards Update 2016-13 [Member]
Beginning balance		0
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Beginning balance	$ 0	$ 51,990

Note 3 - Investment Securitie_6

Note 3 - Investment Securities - Contractual Maturities (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Available for Sale Amortized cost, Within one year	$ 1,509,228
Available for Sale Fair value, Within one year	1,453,715
Held to Maturity Amortized cost, Within one year	0
Held to Maturity Fair value, Within one year	0
Available for Sale Amortized cost, Over one to five years	8,541,532
Available for Sale Fair value, Over one to five years	7,237,103
Held to Maturity Amortized cost, Over one to five years	893,845
Held to Maturity Fair value, Over one to five years	863,621
Available for Sale Amortized cost, Fair value, Over one to five years	816,968
Available for Sale Fair value, Over five to ten years	704,917
Held to Maturity Amortized cost, Over five to ten years	5,839,636
Held to Maturity Fair value, Over five to ten years	5,327,247
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	13,492,592
Held to Maturity Fair value, Over ten years	11,786,559
Available for Sale Amortized cost, total maturity	10,867,728
Available for Sale Fair value, total maturity	9,395,735
Held to Maturity Amortized cost, total maturity	20,226,073
Held to Maturity Fair value, total maturity	17,977,427
SBA pools, due in monthly installments	154,817,547
SBA pools, due in monthly installments	127,167,485
SBA pools, due in monthly installments	0
SBA pools, due in monthly installments	0
Available for Sale, Amortized cost	165,685,275	$ 149,914,393
Available for Sale Fair value Total	136,563,220	$ 126,314,449
Held to Maturity Amortized cost Total	20,226,073
Held to Maturity Fair value Total	$ 17,977,427

Note 3 - Investment Securitie_7

Note 3 - Investment Securities - Gross Unrealized Losses on Continuous Basis for Investment Securities (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Less than 12 months Fair value	$ 24,071,395	$ 43,137,981
Less than 12 months Unrealized losses	1,229,877	3,707,309
12 months or more Fair value	112,362,004	97,268,040
12 months or more Unrealized losses	27,893,698	21,527,438
Total Fair value	136,433,399	140,406,021
Total Unrealized losses	29,123,575	25,234,747
US States and Political Subdivisions Debt Securities [Member]
Less than 12 months Fair value	239,978	13,668,676
Less than 12 months Unrealized losses	10,023	1,057,412
12 months or more Fair value	231,057	1,537,715
12 months or more Unrealized losses	18,942	593,807
Total Fair value	471,035	15,206,391
Total Unrealized losses	28,965	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	700,027	857,259
12 months or more Unrealized losses	11,577	15,234
Total Fair value	700,027	857,259
Total Unrealized losses	11,577	15,234
Corporate Debt Securities [Member]
Less than 12 months Fair value	336,100	4,184,875
Less than 12 months Unrealized losses	63,900	356,746
12 months or more Fair value	8,588,600	4,805,021
12 months or more Unrealized losses	1,379,128	667,504
Total Fair value	8,924,700	8,989,896
Total Unrealized losses	1,443,028	1,024,250
Collateralized Mortgage-Backed Securities [Member]
Less than 12 months Fair value	23,495,317	25,284,430
Less than 12 months Unrealized losses	1,155,954	2,293,151
12 months or more Fair value	102,842,320	90,068,045
12 months or more Unrealized losses	26,484,051	20,250,893
Total Fair value	126,337,637	115,352,475
Total Unrealized losses	$ 27,640,005	$ 22,544,044

Note 4 - Loans and Allowance _3

Note 4 - Loans and Allowance for Credit Losses (Details Textual)	9 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Financing Receivable, Nonaccrual, Interest Income	$ 0
Financing Receivable, Nonaccrual	$ 655,410	$ 655,410
Impaired Financing Receivable, Related Allowance		281,910
Financing Receivable, Modifications, Number of Contracts	0
Financing Receivable, Accrued Interest, after Allowance for Credit Loss	$ 1,508,780	1,373,078
Loans Acquired, Accretable Yield	588,377
Loans Acquired, Outstanding Balance	78,459,282
Loans Acquired, Carrying Amount, Net	78,424,321
Nonaccrual Loans [Member]
Impaired Financing Receivable, Related Allowance	402,449	281,910
Nonperforming Financial Instruments [Member]
Financing Receivable, Nonaccrual, Interest Income	$ 34,110	$ 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 ($)	Sep. 30, 2023	Jan. 01, 2023	Dec. 31, 2022	Sep. 30, 2022	Dec. 31, 2021
Loans	$ 531,250,700	$ 521,912,554	$ 521,679,143
Loans, allowance for credit loss	4,516,402	4,717,545	4,150,198	$ 3,747,178	$ 3,650,268
Deferred origination fees net of costs	601,257		608,405
Financing Receivable, after Allowance for Credit Loss	526,133,041	517,195,009	516,920,540
Commercial Real Estate Portfolio Segment [Member]
Loans	367,260,065		351,794,702
Loans, allowance for credit loss	2,600,652	2,467,744	2,818,582	2,601,543	2,482,930
Construction and Land Development [Member]
Loans	21,137,478		23,978,373
Loans, allowance for credit loss	263,205	444,775	164,596	156,759	214,547
Residential Portfolio Segment [Member]
Loans	112,068,945		114,683,149
Loans, allowance for credit loss	1,054,774	1,332,354	793,919	671,287	603,558
Commercial Portfolio Segment [Member]
Loans	30,612,786		31,066,497
Loans, allowance for credit loss	476,625	472,503	337,303	288,894	255,413
Consumer Portfolio Segment [Member]
Loans	171,426		156,422
Loans, allowance for credit loss	$ 1,908	$ 169	$ 4,706	$ 3,987	$ 4,370

Note 4 - Loans and Allowance _5

Note 4 - Loans and Allowance for Credit Losses - Non-accrual Loans (Details) - USD ($)	Sep. 30, 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 ($)	Sep. 30, 2023	Jan. 01, 2023	Dec. 31, 2022
Loans	$ 531,250,700	$ 521,912,554	$ 521,679,143
Financial Asset, 30 to 59 Days Past Due [Member]
Loans	1,363,125		311,409
Financial Asset, 60 to 89 Days Past Due [Member]
Loans	2,014,587		0
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans	655,410		655,410
Financial Asset, Past Due [Member]
Loans	4,033,122		966,819
Financial Asset, Not Past Due [Member]
Loans	527,217,578		520,712,324
Commercial Real Estate Portfolio Segment [Member]
Loans	367,260,065		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	2,014,587		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	2,517,548		502,961
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Loans	364,742,517		351,291,741
Construction and Land Development [Member]
Loans	21,137,478		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	21,137,478		23,978,373
Residential Portfolio Segment [Member]
Loans	112,068,945		114,683,149
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Loans	1,363,125		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	1,363,125		311,409
Residential Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Loans	110,705,820		114,371,740
Commercial Portfolio Segment [Member]
Loans	30,612,786		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	30,460,337		30,914,048
Consumer Portfolio Segment [Member]
Loans	171,426		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	$ 171,426		$ 156,422

Note 4 - Loans and Allowance _7

Note 4 - Loans and Allowance for Credit Losses - Collateral Dependent Loans (Details) - USD ($)	Sep. 30, 2023	Jan. 01, 2023	Dec. 31, 2022
Loans	$ 531,250,700	$ 521,912,554	$ 521,679,143
Commercial Real Estate Portfolio Segment [Member]
Loans	367,260,065		351,794,702
Construction and Land Development [Member]
Loans	21,137,478		23,978,373
Residential Portfolio Segment [Member]
Loans	112,068,945		114,683,149
Commercial Portfolio Segment [Member]
Loans	30,612,786		31,066,497
Consumer Portfolio Segment [Member]
Loans	171,426		$ 156,422
Collateral Pledged [Member]
Loans	932,493
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	277,083
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 ($)	Sep. 30, 2023	Jan. 01, 2023	Dec. 31, 2022
Loans, current year	$ 44,048,329
Loans, one year before	107,701,417
Loans, two years before	74,143,539
Loans, three years before	31,063,613
Loans, four years before	45,673,109
Loans, prior	210,343,661
Loans, revolving	18,277,032
Loans	531,250,700	$ 521,912,554	$ 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	44,036,649
Loans, one year before	107,701,417
Loans, two years before	74,141,750
Loans, three years before	31,063,613
Loans, four years before	45,520,660
Loans, prior	199,168,307
Loans, revolving	18,264,057
Loans	519,896,453		99,468,580
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		5,530,925
Substandard [Member]
Loans, current year	11,680
Loans, one year before	0
Loans, two years before	1,789
Loans, three years before	0
Loans, four years before	152,449
Loans, prior	11,175,354
Loans, revolving	0
Loans	11,341,272		12,070,750
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	12,975
Loans	12,975		35,381
Commercial Real Estate Portfolio Segment [Member]
Loans, current year	25,578,156
Loans, one year before	73,506,121
Loans, two years before	55,639,050
Loans, three years before	20,700,351
Loans, four years before	27,783,136
Loans, prior	161,460,672
Loans, revolving	2,592,579
Loans	367,260,065		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	25,578,156
Loans, one year before	73,506,121
Loans, two years before	55,639,050
Loans, three years before	20,700,351
Loans, four years before	27,783,136
Loans, prior	151,986,106
Loans, revolving	2,592,579
Loans	357,785,499		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	0
Loans, revolving	0
Loans	0		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	9,474,566
Loans, revolving	0
Loans	9,474,566		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	3,529,997
Loans, one year before	6,547,341
Loans, two years before	4,666,960
Loans, three years before	1,023,473
Loans, four years before	310,473
Loans, prior	4,563,609
Loans, revolving	495,625
Loans	21,137,478		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	3,529,997
Loans, one year before	6,547,341
Loans, two years before	4,666,960
Loans, three years before	1,023,473
Loans, four years before	310,473
Loans, prior	4,563,609
Loans, revolving	495,625
Loans	21,137,478		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	8,193,778
Loans, one year before	19,215,459
Loans, two years before	10,164,483
Loans, three years before	7,928,227
Loans, four years before	16,384,047
Loans, prior	43,266,274
Loans, revolving	6,916,677
Loans	112,068,945		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	8,193,778
Loans, one year before	19,215,459
Loans, two years before	10,164,483
Loans, three years before	7,928,227
Loans, four years before	16,384,047
Loans, prior	41,565,486
Loans, revolving	6,916,677
Loans	110,368,157		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	0
Loans, prior	0
Loans, revolving	0
Loans	0		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	1,700,788
Loans, revolving	0
Loans	1,700,788		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	6,673,664
Loans, one year before	8,391,841
Loans, two years before	3,666,005
Loans, three years before	1,406,393
Loans, four years before	1,185,603
Loans, prior	1,053,104
Loans, revolving	8,236,176
Loans	30,612,786		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	6,673,664
Loans, one year before	8,391,841
Loans, two years before	3,666,005
Loans, three years before	1,406,393
Loans, four years before	1,033,154
Loans, prior	1,053,104
Loans, revolving	8,236,176
Loans	30,460,337		9,773,961
Commercial 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		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	72,734
Loans, one year before	40,655
Loans, two years before	7,041
Loans, three years before	5,169
Loans, four years before	9,850
Loans, prior	2
Loans, revolving	35,975
Loans	171,426		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	61,054
Loans, one year before	40,655
Loans, two years before	5,252
Loans, three years before	5,169
Loans, four years before	9,850
Loans, prior	2
Loans, revolving	23,000
Loans	144,982		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	11,680
Loans, one year before	0
Loans, two years before	1,789
Loans, three years before	0
Loans, four years before	0
Loans, prior	0
Loans, revolving	0
Loans	13,469		0
Consumer 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	12,975
Loans	$ 12,975		$ 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	9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Jan. 01, 2023
Allowance for loan losses		$ 4,150,198	$ 3,650,268	$ 3,650,268
Provision for loan losses		(594,116)	95,000	475,000
Charge-offs	$ 0	0	(10,240)	(10,240)
Recoveries	6,000	392,973	12,150	35,170
Allowance for loan losses	4,516,402	4,516,402	3,747,178	4,150,198
Allowance for loan losses ending balance evaluated for impairment individually	402,449	402,449	281,910	281,910
Allowance for loan losses ending balance evaluated for impairment collectively	932,493	932,493	3,465,268	3,868,288
Outstanding loan balances evaluated for impairment individually	530,318,207	530,318,207	7,397,764	7,428,214
Loans	531,250,700	531,250,700		521,679,143	$ 521,912,554
Outstanding loan balances evaluated for impairment collectively			501,709,751	513,671,724
Beginning balance		0
Credit loss recovery		(15,939)
Balance at September 30, 2023	69,134	69,134		0
Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses		0
Allowance for loan losses	4,113,953	4,113,953	0	0
Loans			618,226	579,205
Accounting Standards Update 2016-13 [Member]
Allowance for loan losses		4,150,198
Allowance for loan losses				4,150,198
Loans				521,679,143
Beginning balance		0
Balance at September 30, 2023				0
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Allowance for loan losses		567,347
Allowance for loan losses				567,347
Loans					$ 233,411
Beginning balance		85,073
Balance at September 30, 2023				85,073
Commercial Real Estate Portfolio Segment [Member]
Allowance for loan losses		2,818,582	2,482,930	2,482,930
Provision for loan losses		132,908	126,385	343,424
Charge-offs		0	(7,772)	(7,772)
Recoveries		0	0	0
Allowance for loan losses	2,600,652	2,600,652	2,601,543	2,818,582
Allowance for loan losses ending balance evaluated for impairment individually	250,000	250,000	129,461	129,461
Allowance for loan losses ending balance evaluated for impairment collectively	502,961	502,961	2,472,082	2,689,121
Outstanding loan balances evaluated for impairment individually	366,757,104	366,757,104	7,210,361	7,019,415
Loans	367,260,065	367,260,065		351,794,702
Outstanding loan balances evaluated for impairment collectively			335,409,719	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	2,350,652	2,350,652	0	0
Loans			0	0
Commercial Real Estate Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member]
Allowance for loan losses		2,818,582
Allowance for loan losses				2,818,582
Commercial Real Estate Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Allowance for loan losses		(350,838)
Allowance for loan losses				(350,838)
Construction and Land Development [Member]
Allowance for loan losses		164,596	214,547	214,547
Provision for loan losses		(193,495)	(69,938)	(66,151)
Charge-offs		0	0	0
Recoveries		11,925	12,150	16,200
Allowance for loan losses	263,205	263,205	156,759	164,596
Allowance for loan losses ending balance evaluated for impairment individually	0	0	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	0	0	156,759	164,596
Outstanding loan balances evaluated for impairment individually	21,137,478	21,137,478	0	0
Loans	21,137,478	21,137,478		23,978,373
Outstanding loan balances evaluated for impairment collectively			24,416,365	23,608,751
Construction and Land Development [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses		0
Allowance for loan losses	263,205	263,205	0	0
Loans			0	369,622
Construction and Land Development [Member] | Accounting Standards Update 2016-13 [Member]
Allowance for loan losses		164,596
Allowance for loan losses				164,596
Construction and Land Development [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Allowance for loan losses		280,179
Allowance for loan losses				280,179
Residential Portfolio Segment [Member]
Allowance for loan losses		793,919	603,558	603,558
Provision for loan losses		(658,628)	67,729	171,391
Charge-offs		0	0	0
Recoveries		381,048	0	18,970
Allowance for loan losses	1,054,774	1,054,774	671,287	793,919
Allowance for loan losses ending balance evaluated for impairment individually	0	0	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	277,083	277,083	671,287	793,919
Outstanding loan balances evaluated for impairment individually	111,791,862	111,791,862	34,954	256,350
Loans	112,068,945	112,068,945		114,683,149
Outstanding loan balances evaluated for impairment collectively			113,024,489	114,217,216
Residential Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses		0
Allowance for loan losses	1,054,774	1,054,774	0	0
Loans			375,844	209,583
Residential Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member]
Allowance for loan losses		793,919
Allowance for loan losses				793,919
Residential Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Allowance for loan losses		538,435
Allowance for loan losses				538,435
Commercial Portfolio Segment [Member]
Allowance for loan losses		337,303	255,413	255,413
Provision for loan losses		4,122	35,949	84,358
Charge-offs		0	(2,468)	(2,468)
Recoveries		0	0	0
Allowance for loan losses	476,625	476,625	288,894	337,303
Allowance for loan losses ending balance evaluated for impairment individually	152,449	152,449	152,449	152,449
Allowance for loan losses ending balance evaluated for impairment collectively	152,449	152,449	136,445	184,854
Outstanding loan balances evaluated for impairment individually	30,460,337	30,460,337	152,449	152,449
Loans	30,612,786	30,612,786		31,066,497
Outstanding loan balances evaluated for impairment collectively			28,490,571	30,914,048
Commercial Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses		0
Allowance for loan losses	324,176	324,176	0	0
Loans			242,382	0
Commercial Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member]
Allowance for loan losses		337,303
Allowance for loan losses				337,303
Commercial Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Allowance for loan losses		135,200
Allowance for loan losses				135,200
Consumer Portfolio Segment [Member]
Allowance for loan losses		4,706	4,370	4,370
Provision for loan losses		1,739	(383)	336
Charge-offs		0	0	0
Recoveries		0	0	0
Allowance for loan losses	1,908	1,908	3,987	4,706
Allowance for loan losses ending balance evaluated for impairment individually	0	0	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	0	0	3,987	4,706
Outstanding loan balances evaluated for impairment individually	171,426	171,426	0	0
Loans	171,426	171,426		156,422
Outstanding loan balances evaluated for impairment collectively			368,607	156,422
Consumer Portfolio Segment [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses		0
Allowance for loan losses	1,908	1,908	0	0
Loans			0	0
Consumer Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member]
Allowance for loan losses		4,706
Allowance for loan losses				4,706
Consumer Portfolio Segment [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Allowance for loan losses		(4,537)
Allowance for loan losses				(4,537)
Unallocated Financing Receivables [Member]
Allowance for loan losses		31,092	89,450	89,450
Provision for loan losses		119,238	(64,742)	(58,358)
Charge-offs		0	0	0
Recoveries		0	0	0
Allowance for loan losses	119,238	119,238	24,708	31,092
Allowance for loan losses ending balance evaluated for impairment individually	0	0	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	0	0	24,708	31,092
Outstanding loan balances evaluated for impairment individually	0	0	0	0
Outstanding loan balances evaluated for impairment collectively			0	0
Unallocated Financing Receivables [Member] | Financial Asset Acquired with Credit Deterioration [Member]
Allowance for loan losses		0
Allowance for loan losses	$ 119,238	119,238	0	0
Loans			$ 0	0
Unallocated Financing Receivables [Member] | Accounting Standards Update 2016-13 [Member]
Allowance for loan losses		31,092
Allowance for loan losses				31,092
Unallocated Financing Receivables [Member] | Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [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)	9 Months Ended
	Sep. 30, 2023 USD ($)
Balance at December 31, 2022	$ 930,973
Accretion	307,635
Balance at September 30, 2023	$ 623,338

Note 4 - Loans and Allowance_12

Note 4 - Loans and Allowance for Credit Losses - Components of Allowance for Credit Losses (Details) - USD ($)	3 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Balance	$ 4,746,581	$ 4,150,198
Provision (recovery) of credit losses	(75,000)	(570,000)
Charge-offs	0	0	$ (10,240)	$ (10,240)
Recoveries	6,000	392,973	$ 12,150	35,170
Balance	4,677,581	4,677,581		4,150,198
Cumulative Effect, Period of Adoption, Adjustment [Member]
Balance	0	704,410
Balance				704,410
Held-to-Maturity Securities [Member]
Balance	50,445	0
Provision (recovery) of credit losses	41,600	40,055
Charge-offs	0	0
Recoveries	0	0
Balance	92,045	92,045		0
Held-to-Maturity Securities [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Balance	0	51,990
Balance				51,990
Loans [Member]
Balance	4,646,836	4,150,198
Provision (recovery) of credit losses	(136,434)	(594,116)
Charge-offs	0	0
Recoveries	6,000	392,973
Balance	4,516,402	4,516,402		4,150,198
Loans [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Balance	0	567,347
Balance				567,347
Unfunded Loan Commitments [Member]
Balance	49,300	0
Provision (recovery) of credit losses	19,834	(15,939)
Charge-offs	0	0
Recoveries	0	0
Balance	69,134	69,134		0
Unfunded Loan Commitments [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Balance	$ 0	$ 85,073
Balance				$ 85,073

Note 5 - Goodwill and Other I_3

Note 5 - Goodwill and Other Intangibles (Details Textual) - Core Deposits [Member]	Sep. 30, 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 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
Finite-Lived Intangible Asset, Expected Amortization, Year Ten	$ 6,246

Note 5 - Goodwill and Other I_4

Note 5 - Goodwill and Other Intangibles - Changes in Goodwill and Other Intangibles (Details)	9 Months Ended
	Sep. 30, 2023 USD ($)
Balance	$ 6,978,208
Balance	7,042,752
Amortization	(6,246)
Balance	6,978,208
Balance	7,036,506
Core Deposits [Member]
Balance, other intangible	64,544
Amortization, other intangible	(6,246)
Balance, other intangible	$ 58,298

Note 6 - Capital Standards (Det

Note 6 - Capital Standards (Details Textual)	Sep. 30, 2023	Dec. 31, 2022
Banking Regulation, Common Equity Tier One Risk-Based Capital Ratio, Well Capitalized, Minimum	0.065	0.065
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets	0.08	0.08
Capital Required to be Well Capitalized to Risk Weighted Assets	0.10	0.10
Tier One Leverage Capital Required to be Well Capitalized to Average Assets	0.05	0.05

Note 6 - Capital Standards - Ca

Note 6 - Capital Standards - Capital Requirements (Details) $ in Thousands	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Capital	$ 79,714	$ 75,826
Capital to Risk Weighted Assets	0.1286	0.1296
Capital Required for Capital Adequacy	$ 65,080	$ 61,410
Capital Required for Capital Adequacy to Risk Weighted Assets	0.105	0.105
Capital Required to be Well Capitalized	$ 61,981	$ 58,486
Capital Required to be Well Capitalized to Risk Weighted Assets	0.10	0.10
Tier One Risk Based Capital	$ 75,037	$ 71,676
Tier One Risk Based Capital to Risk Weighted Assets	0.1211	0.1226
Tier One Risk Based Capital Required for Capital Adequacy	$ 52,684	$ 49,713
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets	0.085	0.085
Tier One Risk Based Capital Required to be Well Capitalized	$ 49,585	$ 46,789
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets	0.08	0.08
Common Equity Tier One Capital	$ 75,037	$ 71,676
Common Equity Tier One Capital Ratio	0.1211	0.1226
Common Equity Tier One Capital Required for Capital Adequacy	$ 43,387	$ 40,940
Common Equity Tier One Capital Required for Capital Adequacy Ratio	0.07	0.07
Common Equity Tier One Capital Required to be Well-Capitalized	$ 40,288	$ 38,016
Common Equity Tier One Capital Required to be Well Capitalized Ratio	0.065	0.065
Tier One Leverage Capital	$ 75,037	$ 71,676
Tier One Leverage Capital to Average Assets	0.0991	0.0983
Tier One Leverage Capital Required for Capital Adequacy	$ 30,295	$ 29,167
Tier One Leverage Capital Required for Capital Adequacy to Average Assets	0.04	0.04
Tier One Leverage Capital Required to be Well Capitalized	$ 37,869	$ 36,459
Tier One Leverage Capital Required to be Well Capitalized to Average Assets	0.05	0.05

Note 7 - Derivative Financial_3

Note 7 - Derivative Financial Instrument (Details Textual) $ in Millions	Sep. 30, 2023 USD ($)
Interest Rate Swap [Member] | Fair Value Hedging [Member]
Derivative, Notional Amount	$ 34.8

Note 7 - Derivative Financial_4

Note 7 - Derivative Financial Instrument - Schedule of Derivative Instruments (Details)	Sep. 30, 2023 USD ($)
Securities Available for Sale [Member]
Securities available for sale	$ 46,052,766
Fair Value Hedge, Cumulative Adjustment	559,259
Other Assets [Member] | Designated as Hedging Instrument [Member]
Securities available for sale	714,649
Other Assets [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Securities available for sale	714,649
Other Liabilities [Member] | Designated as Hedging Instrument [Member]
Derivative liability	127,257
Other Liabilities [Member] | Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative liability	$ 127,257

Note 7 - Derivative Financial_5

Note 7 - Derivative Financial Instrument - Derivative Instruments, Gain (Loss) (Details) - Interest Rate Swap [Member] - Designated as Hedging Instrument [Member] - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Hedged items	$ 60,846	$ 28,133
Net gain on fair value hedging relationships included in interest income from fedral funds sold and other interest earning assets	127,767	169,508
Fair Value Hedging [Member]
Interest rate contracts designated as hedging instruments	$ 66,921	$ 141,375

Note 8 - Fair Value (Details Te

Note 8 - Fair Value (Details Textual)	9 Months Ended
	Sep. 30, 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 ($)	Sep. 30, 2023	Dec. 31, 2022
Fair value, available for sale	$ 136,563,220	$ 126,314,449
Mutual fund	482,907	489,145
Fair Value, Recurring [Member]
Fair value, available for sale	136,563,220	126,314,449
Fair value hedge	587,392
Mutual fund	482,907	489,145
Fair Value, Nonrecurring [Member]
Other real estate owned, net	1,242,365	1,242,365
Collateral-dependent loans, net	530,044
Impaired loans, net		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	482,907	489,145
Fair Value, Inputs, Level 1 [Member] | Fair Value, Nonrecurring [Member]
Other real estate owned, net	0	0
Collateral-dependent loans, net	0
Impaired loans, net		0
Fair Value, Inputs, Level 2 [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	136,563,220	125,914,449
Fair value hedge	587,392
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
Impaired loans, net		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	530,044
Impaired loans, net		373,500
US States and Political Subdivisions Debt Securities [Member]
Fair value, available for sale	471,035	552,281
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	471,035	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	471,035	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	829,848	1,019,797
SBA Pools [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	829,848	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	829,848	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	8,924,700	9,389,896
Corporate Debt Securities [Member] | Fair Value, Nonrecurring [Member]
Fair value, available for sale	8,924,700	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	8,924,700	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	126,337,637	115,352,475
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member]
Fair value, available for sale	126,337,637	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	126,337,637	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 ($)	9 Months Ended	12 Months Ended
	Sep. 30, 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	$ 530,044	$ 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]	9 Months Ended
	Sep. 30, 2023 USD ($)
Fair value beginning balance	$ 400,000
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 ($)	Sep. 30, 2023	Dec. 31, 2022
Fair value, available for sale	$ 136,563,220	$ 126,314,449
Fair value, held to maturity	17,977,427
Securities held to maturity	17,977,427
Reported Value Measurement [Member]
Federal Reserve Bank advances	33,000,000	0
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	25,011,678	7,263,537
Noninterest-bearing deposits	113,326,966	126,695,349
Securities sold under repurchase agreements	5,357,674	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	2,018,786	1,815,784
Fair value, available for sale	136,563,220	126,314,449
Fair value, held to maturity	17,205,828	17,537,377
Equity security	482,907	489,145
Mortgage loans held for sale	0	428,355
Restricted stock, at cost	863,500	1,332,500
Bank owned life insurance	14,846,937	14,585,342
Fair value hedge	714,649	0
Securities held to maturity	17,205,828	17,537,377
Interest-bearing deposits	530,935,768	496,915,775
Federal Home Loan Bank advances	5,000,000	20,000,000
Long-term debt, net	13,683,195	15,095,642
Accrued interest payable	1,491,099	349,910
Fair value hedge	127,257	0
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value, held to maturity	2,928,200	2,971,620
Securities held to maturity	2,928,200	2,971,620
Loans, net	526,133,041	516,920,540
Estimate of Fair Value Measurement [Member]
Federal Reserve Bank advances	32,944,196	0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	25,011,678	7,263,537
Noninterest-bearing deposits	113,326,966	126,695,349
Securities sold under repurchase agreements	5,357,674	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	2,018,786	1,815,784
Fair value, available for sale	136,563,220	126,314,449
Fair value, held to maturity	15,049,227	15,908,175
Equity security	482,907	489,145
Mortgage loans held for sale	0	434,271
Restricted stock, at cost	863,500	1,332,500
Bank owned life insurance	14,846,937	14,585,342
Fair value hedge	714,649	0
Securities held to maturity	15,049,227	15,908,175
Interest-bearing deposits	528,340,768	492,769,775
Federal Home Loan Bank advances	4,770,000	19,622,000
Long-term debt, net	12,659,692	14,241,237
Accrued interest payable	1,491,099	349,910
Fair value hedge	127,257	0
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value, held to maturity	2,928,200	2,971,620
Securities held to maturity	2,928,200	2,971,620
Loans, net	$ 512,295,742	$ 503,144,771

Note 9 - Earnings Per Share (De

Note 9 - Earnings Per Share (Details Textual) - shares shares in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	0	0

Note 9 - Earnings Per Share - B

Note 9 - Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net income	$ 1,432,139	$ 1,974,310	$ 5,003,107	$ 6,075,845
Weighted average shares outstanding (in shares)	3,090,542	3,053,487	3,078,429	3,043,006
Earnings per share - basic and diluted (in dollars per share)	$ 0.46	$ 0.65	$ 1.63	$ 2

Note 10 - Retirement Plans (Det

Note 10 - Retirement Plans (Details Textual)	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 53,700	$ 53,057	$ 197,150	$ 192,223
Number of Employees Covered by Life Insurance Policy	12		12
Other Postretirement Benefits Cost (Reversal of Cost)	$ 1,834	1,702	$ 5,503	5,107
Employee Benefits and Share-Based Compensation	$ 348,048	418,422	$ 1,483,278	1,367,829
Supplemental Employee Retirement Plan [Member]
Number of Employees Participating in Plan	4		4
Employee Benefits and Share-Based Compensation	$ (44,800)	$ 46,250	$ 107,200	$ 136,250
Profit Sharing Plan [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match			4%
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage			100%

Note 11 - Borrowed Funds (Detai

Note 11 - Borrowed Funds (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2020
Carroll Bancorp, Inc.[Member]
Debt Instrument, Face Amount			$ 17,000,000
Federal Reserve Bank Advances, Facility One [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 25,600,000
Commercial Banks [Member]
Line of Credit Facility, Maximum Borrowing Capacity	23,500,000
Commercial Banks [Member] | Unsecured Debt [Member]
Line of Credit Facility, Maximum Borrowing Capacity	14,500,000
Commercial Banks [Member] | Secured Debt [Member]
Line of Credit Facility, Maximum Borrowing Capacity	9,000,000
Federal Reserve Bank Advances, Facility Two [Member]
Long-Term Line of Credit	33,000,000	$ 0
Federal Reserve Bank Advances [Member]
Long-Term Line of Credit	0	0
Federal Home Loan Bank of Atlanta [Member]
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available	66,000,000
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Amount of Advances	$ 5,000,000	$ 20,000,000
Federal Home Loan Bank of Atlanta [Member] | Pledged Single-family Residential Loans [Member]
Debt Instruments, Borrowing Capacity, Percentage	75%
Federal Home Loan Bank of Atlanta [Member] | Pledged Commercial Loan [Member]
Debt Instruments, Borrowing Capacity, Percentage	50%

Note 11 - Borrowed Funds - Borr

Note 11 - Borrowed Funds - Borrowed Funds (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Securities sold under repurchase agreements	$ 5,357,674	$ 5,175,303
Long-term debt (net of issuance costs)	13,683,195	15,095,642
Federal Reserve Bank Advances [Member]
Long-term debt (net of issuance costs)	$ 13,683,195	$ 15,095,642
Securities Sold under Agreements to Repurchase [Member]
Weighted average rate	1.25%	0.30%
Federal Home Loan Bank Advances [Member]
Weighted average rate	1.01%	1.55%
Federal Reserve Bank [Member]
Weighted average rate	5.43%	0%
Long-Term Debt [Member]
Weighted average rate	4.10%	4.10%
Federal Home Loan Bank of Atlanta [Member]
Federal Home Loan Bank advances	$ 5,000,000	$ 20,000,000
Federal Home Loan Bank of Atlanta [Member] | Maturing in 2023 [Member]
Federal Home Loan Bank advances	0	15,000,000
Federal Home Loan Bank of Atlanta [Member] | Maturing in 2025 [Member]
Federal Home Loan Bank advances	5,000,000	5,000,000
Federal Home Loan Bank of Atlanta [Member] | Maturing in 2024 [Member]
Federal Home Loan Bank advances	$ 33,000,000	$ 0

Note 12 - Stock-based Compens_2

Note 12 - Stock-based Compensation (Details Textual) - The 2023 Equity Compensation Plan [Member] - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Aug. 22, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares)			30,000
Share-Based Payment Arrangement, Expense	$ 38,250	$ 38,250
Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period (in shares)	2,000