Farmers and Merchants Bancshares (FMFG) 10-Q 14 Aug 24 2024 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Aug. 14, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	000-55756
Entity Registrant Name	Farmers and Merchants Bancshares, Inc.
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 (in shares)		3,144,974
Entity Central Index Key	0001698022
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2024	Dec. 31, 2023	[1]
Assets
Cash and due from banks	$ 24,212,716	$ 44,404,473
Federal funds sold and other interest-bearing deposits	297,604	285,864
Cash and cash equivalents	24,510,320	44,690,337
Certificates of deposit in other banks	100,000	100,000
Securities available for sale, at fair value	157,524,568	164,084,673
Securities held to maturity, at amortized cost (allowance for credit losses of $126,631 and $35,627)	20,135,893	20,163,622
Equity security, at fair value	508,333	507,130
Restricted stock, at cost	1,395,900	863,500
Loans, less allowance for credit losses of $4,082,098 and $4,285,247	546,036,461	523,308,044
Premises and equipment, net	7,455,924	6,583,452
Accrued interest receivable	2,191,090	2,180,734
Deferred income taxes, net	8,061,994	8,312,482
Other real estate owned, net	1,242,365	1,242,365
Bank owned life insurance	15,115,536	14,930,754
Goodwill and other intangibles, net	7,030,260	7,034,424
Other assets	7,247,205	5,939,309
Assets	798,555,849	799,940,826
Deposits
Noninterest-bearing	108,907,898	115,284,706
Interest-bearing	542,301,597	565,678,145
Total deposits	651,209,495	680,962,851
Securities sold under repurchase agreements	2,758,183	6,760,493
Federal Home Loan Bank of Atlanta advances	15,000,000	5,000,000
Federal Reserve Bank advances	54,000,000	33,000,000
Long-term debt, net of issuance costs	12,270,747	13,212,378
Accrued interest payable	2,217,250	1,482,773
Other liabilities	6,557,384	7,344,040
Liabilities	744,013,059	747,762,535
Stockholders' equity
Common stock, par value $.01 per share, authorized 5,000,000 shares; issued and outstanding 3,144,974 and 3,116,966 shares in 2024 and 2023, respectively	31,450	31,170
Additional paid-in capital	30,832,609	30,398,080
Retained earnings	40,703,077	39,433,185
Accumulated other comprehensive loss	(17,024,346)	(17,684,144)
Equity, Attributable to Parent	54,542,790	52,178,291
Liabilities and Equity	$ 798,555,849	$ 799,940,826
[1]Derived from audited consolidated financial statements

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Debt Securities, Held-to-Maturity, Allowance for Credit Loss	$ 126,631	$ 35,627
Financing Receivable, Allowance for Credit Loss	$ 4,082,098	$ 4,285,247
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 1	$ 1
Common Stock, Shares Authorized (in shares)	5,000,000	5,000,000
Common Stock, Shares, Outstanding (in shares)	3,144,974	3,116,966
Common Stock, Shares, Issued (in shares)	3,144,974	3,116,966

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Interest income
Loans, including fees	$ 7,237,816	$ 6,368,721	$ 14,119,727	$ 12,414,269
Investment securities - taxable	1,592,316	769,999	3,171,382	1,532,207
Investment securities - tax exempt	137,593	139,528	274,371	279,372
Federal funds sold and other interest earning assets	212,043	105,974	680,350	210,903
Total interest income	9,179,768	7,384,222	18,245,830	14,436,751
Interest expense
Deposits	3,231,886	1,735,965	6,332,812	2,770,816
Securities sold under repurchase agreements	13,035	7,501	36,044	11,839
Federal Home Loan Bank advances	31,929	208,536	44,517	412,983
Federal Reserve Bank advances	640,846	13,000	1,262,529	13,263
Long-term debt	128,705	148,390	262,305	299,952
Total interest expense	4,046,401	2,113,392	7,938,207	3,508,853
Net interest income	5,133,367	5,270,830	10,307,623	10,927,898
Recovery of credit losses	0	(225,000)	0	(495,000)
Net interest income after recovery of credit losses	5,133,367	5,495,830	10,307,623	11,422,898
Noninterest income
Mortgage banking income	18,376	33,636	23,327	58,929
Bank owned life insurance income	94,462	88,742	184,782	171,847
Fair value adjustment on equity security	(2,430)	(7,341)	(5,971)	(1,574)
Loss on sale of debt securities	(31,922)	0	(31,922)	0
Gain on insurance proceeds	0	0	142,794	0
Total noninterest income	373,960	403,250	878,375	785,664
Noninterest expense
Salaries	1,993,580	1,850,494	3,969,767	3,726,938
Employee benefits	441,546	541,173	1,047,859	1,135,230
Occupancy	277,690	202,147	524,017	416,263
Furniture and equipment	327,884	252,924	570,305	492,651
Other	1,082,561	838,909	2,123,780	1,672,000
Total noninterest expense	4,123,261	3,685,647	8,235,728	7,443,082
Income before income taxes	1,384,066	2,213,433	2,950,270	4,765,480
Income taxes	305,557	543,316	651,774	1,194,512
Net income	$ 1,078,509	$ 1,670,117	$ 2,298,496	$ 3,570,968
Earnings per share - basic (in dollars per share)	$ 0.35	$ 0.54	$ 0.74	$ 1.16
Earnings per share - diluted (in dollars per share)	$ 0.35	$ 0.54	$ 0.74	$ 1.16
Deposit Account [Member]
Noninterest income
Noninterest income	$ 217,427	$ 204,726	$ 412,101	$ 391,433
Financial Service, Other [Member]
Noninterest income
Noninterest income	$ 78,047	$ 83,487	$ 153,264	$ 165,029

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net income	$ 1,078,509	$ 1,670,117	$ 2,298,496	$ 3,570,968
Other comprehensive loss, net of income taxes:
Net unrealized gain (loss) arising during the period	1,012,337	(2,994,650)	(561,876)	(807,464)
Reclassification adjustment for realized losses included in net income	(31,922)	0	(31,922)	0
Total unrealized gain (loss) on investment securities available for sale	1,044,259	(2,994,650)	(529,954)	(807,464)
Income tax (expense) benefit	(287,355)	824,053	145,830	222,194
Net unrealized gain (loss) on investment securities available for sale	756,904	(2,170,597)	(384,124)	(585,270)
Total unrealized gain on derivatives	327,405	274,986	1,440,306	61,465
Income tax expense	(98,497)	(75,670)	(396,384)	(16,914)
Net unrealized gain on derivatives	228,908	199,316	1,043,922	44,551
Total other comprehensive income (loss)	985,812	(1,971,281)	659,798	(540,719)
Total comprehensive income (loss)	$ 2,064,321	$ (301,164)	$ 2,958,294	$ 3,030,249

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2022	3,071,214
Balance at Dec. 31, 2022	$ 30,712	$ 29,549,914	$ 35,300,166	$ (17,105,829)	$ 47,774,963
Net income	0	0	3,570,968	0	3,570,968
Other comprehensive loss	0	0	0	(540,719)	(540,719)
Cash dividends, $0.33 per share	0	0	(1,013,499)	0	(1,013,499)
Dividends reinvested	$ 192	391,574	(7,843)	0	383,923
Dividends reinvested (in shares)	19,154
Stock-based compensation					0
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
Balance (in shares) at Dec. 31, 2022	3,071,214
Balance at Dec. 31, 2022	$ 30,712	29,549,914	35,300,166	(17,105,829)	47,774,963
Balance (in shares) at Dec. 31, 2023	3,116,966
Balance at Dec. 31, 2023	$ 31,170	30,398,080	39,433,185	(17,684,144)	52,178,291	[1]
Balance (in shares) at Mar. 31, 2023	3,071,214
Balance at Mar. 31, 2023	$ 30,712	29,549,914	36,851,782	(15,675,267)	50,757,141
Net income	0	0	1,670,117	0	1,670,117
Other comprehensive loss	0	0	0	(1,971,281)	(1,971,281)
Cash dividends, $0.33 per share	0	0	(1,013,499)	0	(1,013,499)
Dividends reinvested	$ 192	391,574	0	0	391,766
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
Balance (in shares) at Dec. 31, 2023	3,116,966
Balance at Dec. 31, 2023	$ 31,170	30,398,080	39,433,185	(17,684,144)	52,178,291	[1]
Net income	0	0	2,298,496	0	2,298,496
Other comprehensive loss	0	0	0	659,798	659,798
Cash dividends, $0.33 per share	0	0	(1,028,604)	0	(1,028,604)
Dividends reinvested	$ 280	425,453	0	0	425,733
Dividends reinvested (in shares)	28,008
Stock-based compensation (in shares)	0
Stock-based compensation	$ 0	9,076	0	0	9,076
Balance (in shares) at Jun. 30, 2024	3,144,974
Balance at Jun. 30, 2024	$ 31,450	30,832,609	40,703,077	(17,024,346)	54,542,790
Balance (in shares) at Mar. 31, 2024	3,116,966
Balance at Mar. 31, 2024	$ 31,170	30,402,618	40,653,172	(18,010,158)	53,076,802
Net income	0	0	1,078,509	0	1,078,509
Other comprehensive loss	0	0	0	985,812	985,812
Cash dividends, $0.33 per share	0	0	(1,028,604)	0	(1,028,604)
Dividends reinvested	$ 280	425,453	0	0	425,733
Dividends reinvested (in shares)	28,008
Stock-based compensation (in shares)	0
Stock-based compensation	$ 0	4,538	0	0	4,538
Balance (in shares) at Jun. 30, 2024	3,144,974
Balance at Jun. 30, 2024	$ 31,450	$ 30,832,609	$ 40,703,077	$ (17,024,346)	$ 54,542,790
[1]Derived from audited consolidated financial statements

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares	6 Months Ended	9 Months Ended
	Jun. 30, 2024	Sep. 30, 2022
Common Stock, Dividends, Per Share, Cash Paid (in dollars per share)	$ 0.33	$ 0.33

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Reconciliation of net income to net cash provided by operating activities
Net income	$ 2,298,496	$ 3,570,968
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	285,948	256,738
Recovery of credit losses	0	(495,000)
(Accretion) amortization of right of use asset and lease liability	2,893	(2,245)
Equity security dividends reinvested	(7,174)	(5,918)
Unrealized loss on equity security	5,971	1,574
Gain on sale of premises and equipment	0	(9,000)
Gain on insurance proceeds	(142,794)	0
Gain (loss) on fair value hedge	65	(32,005)
Loss on sale of security	31,922	0
Stock-based compensation	9,076	0
Amortization of debt issuance costs	2,813	2,812
Amortization of premiums and (accretion of discounts), net	(489,221)	12,127
Bank owned life insurance cash surrender value	(184,782)	(171,847)
Increase (decrease) in
Deferred loan fees and costs, net	41,015	8,295
Accrued interest payable	734,477	771,053
Other liabilities	(245,769)	(896,980)
Decrease (increase) in
Mortgage loans held for sale	0	428,355
Accrued interest receivable	(10,356)	(9,643)
Other assets	(405,923)	(125,480)
Net cash provided by operating activities	1,926,657	3,303,804
Cash flows from investing activities
Proceeds from maturity and call of securities, Available for sale	9,165,014	5,612,435
Proceeds from maturity and call of securities, Held to maturity	0	330,000
Proceeds from sale of securities, Available for sale	521,162	0
Purchase of securities, Available for sale	(3,269,141)	0
Loans made to customers, net of principal collected	(22,702,071)	(13,951,062)
(Purchase) redemption of stock in FHLB of Atlanta	(532,400)	255,000
Proceeds from sale of premises and equipment	0	9,000
Proceeds from insurance	142,794	0
Purchases of premises, equipment and software	(1,132,363)	(102,439)
Net cash used in investing activities	(17,807,005)	(7,847,066)
Cash flows from financing activities
Noninterest-bearing deposits	(6,376,808)	(5,723,680)
Interest-bearing deposits	(23,373,236)	13,977,308
Securities sold under repurchase agreements	(4,002,310)	(1,112,365)
Federal Home Loan Bank of Atlanta advances	10,000,000	(6,000,000)
Federal Reserve Bank advances	21,000,000	10,000,000
Long-term debt principal payments	(944,444)	(944,444)
Dividends paid, net of reinvestments	(602,871)	(629,576)
Net cash (used in) provided by financing activities	(4,299,669)	9,567,243
Net (decrease) increase in cash and cash equivalents	(20,180,017)	5,023,981
Cash and cash equivalents at beginning of period	44,690,337	7,263,537
Cash and cash equivalents at end of period	24,510,320	12,287,518
Supplemental disclosure of cash flow information
Cash paid during the period for interest	7,200,065	2,784,686
Cash paid during the period for income taxes	190,000	1,300,848
Net unrealized loss on securities available for sale	(529,953)	(807,464)
Additions to right of use assets obtained in exchange for lease liabilities	$ 704,577	$ 0

Note 1 - Principles of Consolid

Note 1 - Principles of Consolidation	6 Months Ended
	Jun. 30, 2024
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 (the “Insurance Subsidiary”), and one subsidiary of the Bank, Reliable Community Financial Services, Inc. The Insurance Subsidiary is a series investment, 100% owned by Farmers and Merchants Bancshares, Inc. in First Community Bankers Insurance Co., LLC, a Tennessee “series” limited liability company and licensed property and casualty insurance company. Intercompany balances and transactions, including insurance premium paid by the Bank that were received by the Insurance Subsidiary through an intermediary, have been eliminated. As used in these notes, the terms the “Company”, “we”, “us”, or “our” refer to Farmers and Merchants Bancshares, Inc. and, unless the context clearly suggests otherwise, its consolidated subsidiaries.

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation	6 Months Ended
	Jun. 30, 2024
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-Q and Rule 8-03 of Regulation S-X. Accordingly, they do not include all of the disclosures required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments necessary for a fair presentation of the results of operations for the interim periods have been made. Such adjustments were normal and recurring in nature. The results of operations for the three- and six-month periods ended June 30, 2024 do not necessarily reflect the results that may be expected for the fiscal year ending December 31, 2024 or any future interim period. The consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes for the year ended December 31, 2023, which are included in Farmers and Merchants Bancshares, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2023 that was filed with the Securities and Exchange Commission (the “SEC”). Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” The amendments in this ASU are intended to improve reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. This ASU requires disclosure of significant segment expenses that are regularly provided to the chief operating decision mark (“CODM”), an amount for other segments items by reportable segment and a description of its composition, all annual disclosures required by ASU Topic 280 in interim periods as well, and the title and position of the CODM and how the CODM uses the reported measures. Additionally, this ASU requires that at least one of the reported segment profit and loss measures should be the measure that is most consistent with the measurement principles used in an entity’s consolidated financial statements. Lastly, this ASU requires public business entities with a single reportable segment to provide all disclosures required by these amendments in this ASU and all existing segment disclosures in Topic 280. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments should be applied retrospectively. The Company does not expect that the adoption of ASU 2023-07 will have a material impact on its consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures.” The amendments in this ASU require an entity to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold, which is greater than five percent of the amount computed by multiplying pretax income by the entity’s applicable statutory rate, on an annual basis. Additionally, the amendments in this ASU require an entity to disclose the amount of income taxes paid (net of refunds received) disaggregated by federal, state, and foreign taxes and the amount of income taxes paid (net of refunds received) disaggregated by individual jurisdictions that are equal to or greater than five percent of total income taxes paid (net of refunds received). Lastly, the amendments in this ASU require an entity to disclose income (or loss) from continuing operations before income tax expense (or benefit) disaggregated between domestic and foreign and income tax expense (or benefit) from continuing operations disaggregated by federal, state, and foreign. This ASU is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The amendments should be applied on a prospective basis; however, retrospective application is permitted. The Company does not expect that the adoption of ASU 2023-09 will have a material impact on its consolidated financial statements. The accounting policies adopted by management are consistent with authoritative GAAP and are consistent with those followed by our peers. Summary of Significant Accounting Policies There have been no changes to significant accounting policies since the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 was issued.

Note 3 - Investment Securities

Note 3 - Investment Securities	6 Months Ended
	Jun. 30, 2024
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 Amortized June 30, 2024 cost gains losses value Credit Losses Amount Available for sale State and municipal $ 500,000 $ - $ 16,982 $ 483,018 $ - $ 483,018 SBA pools 720,085 1,897 6,857 715,125 - 715,125 Corporate bonds 8,814,018 - 1,153,555 7,660,463 - 7,660,463 Mortgage-backed securities 170,808,981 621,265 22,764,284 148,665,962 - 148,665,962 $ 180,843,084 $ 623,162 $ 23,941,678 $ 157,524,568 $ - $ 157,524,568 Held to maturity State and municipal $ 20,262,524 $ 592 $ 1,371,384 $ 18,891,732 $ 126,631 $ 20,135,893 Amortized Unrealized Unrealized Fair Allowance for Net Carrying December 31, 2023 cost gains losses value Credit Losses Amount Available for sale State and municipal $ 500,000 $ - $ 15,192 $ 484,808 $ - $ 484,808 SBA pools 776,686 1,160 11,136 766,710 - 766,710 Corporate bonds 9,853,988 - 1,283,559 8,570,429 - 8,570,429 Mortgage-backed securities 175,742,562 1,025,623 22,505,459 154,262,726 - 154,262,726 $ 186,873,236 $ 1,026,783 $ 23,815,346 $ 164,084,673 $ - $ 164,084,673 Held to maturity State and municipal $ 20,199,249 $ 39,537 $ 1,175,565 $ 19,063,221 $ 35,627 $ 20,163,622 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 duration of each bond is used as the remaining life in the calculation of expected credit losses. The following table summarizes Moody's and/or Standard & Poor's bond ratings (the Company’s primary credit quality indicators) for our portfolio of held-to-maturity securities issued by states and political subdivisions as of June 30, 2024 and December 31, 2023 at amortized cost: June 30, 2024 December 31, 2023 AAA $ 2,794,320 $ 2,785,955 AA 10,477,327 10,434,388 A 3,816,717 3,808,365 BAA 253,557 250,661 Not rated 2,920,603 2,919,880 Total $ 20,262,524 $ 20,199,249 Historical loss rates associated with securities having similar grades as those in our portfolio have generally not been significant. Furthermore, as of June 30, 2024, there were no past due principal or interest payments associated with these securities and none are on nonaccrual. The following table details activity in the allowance for credit losses on held-to-maturity securities for the three- and six-month periods ended June 30, 2024 and 2023: Three Months Six Months Three Months Six Months Ended Ended Ended Ended June 30, 2024 June 30, 2024 June 30, 2023 June 30, 2023 Beginning balance $ 31,670 $ 35,627 $ 60,592 $ - Impact of adopting ASC 326 - - - 51,990 Credit loss (recovery) provision 94,961 91,004 (10,147 ) (1,545 ) Ending balance $ 126,631 $ 126,631 $ 50,445 $ 50,445 Accrued interest receivable on available for sale securities totaled $397,928 and $418,549 as of June 30, 2024 and December 31, 2023, respectively, and accrued interest receivable on held to maturity securities totaled $121,670 and $121,670 as of June 30, 2024 and December 31, 2023, respectively. Both are grouped in accrued interest receivable on the balance sheet. Contractual maturities, shown below, will differ from actual maturities because borrowers and issuers may have the right to call or prepay obligations with or without call or prepayment penalties. Available for Sale Held to Maturity Amortized Fair Amortized Fair June 30, 2024 cost value cost value Within one year $ 1,754,504 $ 1,729,691 $ 230,000 $ 229,593 Over one to five years 500,000 483,018 671,211 656,312 Over five to ten years 7,059,514 5,930,774 6,470,309 6,107,565 Over ten years - - 12,891,004 11,898,262 9,314,018 8,143,483 20,262,524 18,891,732 Mortgage-backed securities and SBA pools, due in monthly installments 171,529,066 149,381,085 - - $ 180,843,084 $ 157,524,568 $ 20,262,524 $ 18,891,732 Securities with a carrying value of $69,086,427 and $50,371,861 as of June 30, 2024 and December 31, 2023, respectively, were pledged as collateral for borrowings, securities sold under repurchase agreements and other collateralized deposits. During the three- and six-month periods ended June 30, 2024, there was one sale of an available for sale security with a principal balance of $521,162, resulting in a loss of $31,922. There were no The following table sets forth the Company’s gross unrealized losses on a continuous basis for available for sale debt securities, by category and length of time. June 30, 2024 Less than 12 months 12 months or more Total Description of investments Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss State and municipal $ - $ - $ 483,018 $ 16,982 $ 483,018 $ 16,982 SBA pools - - 405,234 6,857 405,234 6,857 Corporate bonds - - 7,660,463 1,153,555 7,660,463 1,153,555 Mortgage-backed securities 26,179,412 584,502 97,718,937 22,179,782 123,898,349 22,764,284 Total $ 26,179,412 $ 584,502 $ 106,267,652 $ 23,357,176 $ 132,447,064 $ 23,941,678 December 31, 2023 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 $ 246,608 $ 3,392 $ 238,200 $ 11,800 $ 484,808 $ 15,192 SBA pools - - 659,869 11,136 659,869 11,136 Corporate bonds 341,264 58,736 8,229,165 1,224,823 8,570,429 1,283,559 Mortgage-backed securities 23,840,242 378,379 104,657,869 22,127,080 128,498,111 22,505,459 Total $ 24,428,114 $ 440,507 $ 113,785,103 $ 23,374,839 $ 138,213,217 $ 23,815,346 As of June 30, 2024, management did not have the intent to sell any of the securities before a recovery of cost. The unrealized losses are due to increases in market interest rates over the yields available at the time the underlying securities were purchased as well as other market conditions for each particular security based upon the structure and remaining principal balance. The fair values of the investment securities are expected to recover as the securities approach their maturity dates or repricing dates or if market yields for such investments decline. Based on these factors, as of June 30, 2024, management believes that the unrealized losses detailed in the table above are temporary and, accordingly, none of these unrealized losses have been recognized in the Company’s consolidated statement of income.

Note 4 - Loans and Allowance fo

Note 4 - Loans and Allowance for Credit Losses	6 Months Ended
	Jun. 30, 2024
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: June 30, December 31, 2024 2023 Real estate: Commercial $ 375,004,980 $ 361,942,511 Construction and land development 19,712,262 20,446,150 Residential 110,929,552 112,789,631 Commercial 44,917,520 32,823,072 Consumer 168,469 165,136 550,732,783 528,166,500 Less: Allowance for credit losses 4,082,098 4,285,247 Deferred origination fees net of costs 614,224 573,209 $ 546,036,461 $ 523,308,044 For purposes of monitoring the performance of the loan portfolio and estimating the allowance for credit losses, the Company's loans receivable portfolio is segmented as follows: (i) commercial real estate; (ii) construction and land development; (iii) residential; (iv) commercial and industrial; (v) and consumer. Commercial real estate loans carry risks of the client’s ability to repay the loan from the cash flow derived from the underlying real estate. Risks inherent in managing a commercial real estate portfolio relate to sudden or gradual drops in property values as well as changes in the economic climate. Real estate security diminishes risks only to the extent that a market exists for the subject collateral. These risks are attempted to be mitigated by carefully underwriting loans of this type and by following appropriate loan-to-value standards. The Company generally requires personal guarantees or endorsements with respect to these loans and loan-to-value ratios for real estate-commercial loans generally do not exceed 80%. Construction and land development real estate loans carry risks that the project will not be finished according to schedule, the project will not be finished according to budget and the value of the collateral may, at any point in time, be less than the principal amount of the loan. Construction loans also bear the risk that the general contractor, who may or may not be a loan customer, may be unable to finish the construction project as planned because of financial pressure unrelated to the project. The Company generally requires personal guarantees or endorsements with respect to these loans and loan-to-value ratios for real estate-commercial loans generally do not exceed 80%. Residential real estate mortgage loans, including equity lines of credit, carry risks associated with the continued credit-worthiness of the borrower and the changes in the value of the collateral. Commercial and industrial loans carry risks associated with the successful operation of a business or a real estate project, in addition to other risks associated with the ownership of real estate, because the repayment of these loans may be dependent upon the profitability and cash flows of the business or project. In addition, there is risk associated with the value of collateral other than real estate which may depreciate over time and cannot be appraised with as much precision. Consumer loans carry risks associated with the continued credit-worthiness of the borrower and the value of the collateral. The Company's consumer loans consist primarily of installment loans made to individuals for personal, family and household purposes. These risks are attempted to be mitigated by following appropriate loan-to-value standards and an experienced management team for this type of portfolio. The following tables present the amortized cost basis of loans on nonaccrual status as of June 30, 2024 and December 31, 2023: Nonaccrual Nonaccrual With No With Allowance Allowance for Credit Loss for Credit Loss June 30, 2024 Real estate: Commercial $ - $ 403,853 Construction and land development - - Residential - - Commercial - - Consumer - - $ - $ 403,853 December 31, 2023 Real estate: Commercial $ - $ 502,961 Construction and land development - - Residential - - Commercial - 152,449 Consumer - - $ - $ 655,410 The Company did not At June 30, 2024, the Company had one At December 31, 2023, the Company had one one An age analysis of past due loans, segregated by type of loan, is as follows: 90 Days Past Due 90 30 - 59 Days 60 - 89 Days or More Total Total Days or More Past Due Past Due Past Due Past Due Current Loans and Accruing June 30, 2024 Real estate: Commercial $ 1,999,801 $ - $ 403,853 $ 2,403,654 $ 372,601,326 $ 375,004,980 $ - Construction and land development - - - - 19,712,262 19,712,262 - Residential - - - - 110,929,552 110,929,552 - Commercial - - - - 44,917,520 44,917,520 - Consumer - - - - 168,469 168,469 - Total $ 1,999,801 $ - $ 403,853 $ 2,403,654 $ 548,329,129 $ 550,732,783 $ - December 31, 2023 Real estate: Commercial $ - $ - $ 502,961 $ 502,961 $ 361,439,550 $ 361,942,511 $ - Construction and land development - - - - 20,446,150 20,446,150 - Residential 161,431 - - 161,431 112,628,200 112,789,631 - Commercial - - 152,449 152,449 32,670,623 32,823,072 - Consumer 1,163 - - 1,163 163,973 165,136 - Total $ 162,594 $ - $ 655,410 $ 818,004 $ 527,348,496 $ 528,166,500 $ - The following table presents the amortized cost basis of collateral-dependent loans by class of loans as of June 30, 2024 and December 31, 2023: June 30, 2024 Real estate: Commercial $ 2,441,900 Construction and land development - Residential 272,741 Commercial - Consumer - $ 2,714,641 December 31, 2023 Real estate: Commercial $ 2,515,103 Construction and land development - Residential 275,622 Commercial 152,449 Consumer - $ 2,943,174 From time to time, loans to borrowers experiencing financial difficulty may be modified. Generally, the modifications we grant are extensions of terms, deferrals of payments for an extended period or interest rate reductions. Occasionally, we may modify a loan by providing principal forgiveness. In some cases, we will modify a loan by providing multiple types, or combinations, of concessions. The following table presents the amortized cost basis of loans at June 30, 2024 that were both experiencing financial difficulty and modified during the quarter ended June 30, 2024, by class and type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of loans is also presented below. We modified two commercial real estate loans totalling $2,038,047 to the same borrower who was experiencing financial distress during the three- and six-month periods ended June 30, 2024. The terms of the loans were extended by 12 months. One of the loans was delinquent at June 30, 2024 but was not in default. For the Three- and Total Class Six- months ended Term of Financing June 30, 2024 Extension Receivable Commercial real estate $ 2,038,047 0.54 % Total $ 2,038,047 0.37 % There were no no Accrued interest receivable on loans totaled $1,590,226 and $1,539,332 at June 30, 2024 and December 31, 2023, respectively, and is included in accrued interest receivable on the balance sheets. Accrued interest receivable is not included as part of the amortized costs of loans for the allowance for credit losses estimate. 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 delinquent payments and more than sufficient collateral and/or cash flow. 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 result in deterioration of the repayment prospects for the asset or in the Company’s credit position at some future date. Special mention loans are not adversely classified and do not expose the Company to sufficient risk to warrant adverse classification. Borrowers may exhibit poor liquidity and leverage positions resulting from generally negative cash flow or negative trends in earnings. Access to alternative financing may be limited to finance companies for business borrowers and may be unavailable for commercial real estate borrowers. 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 corrected. Borrowers may exhibit recent or unexpected unprofitable operations, an inadequate debt service coverage ratio, or marginal liquidity and capitalization. Substandard loans require more intense supervision by Company management. Doubtful A doubtful loan is a loan that management believes has all of the weaknesses inherent in a substandard loan with the added characteristic that the weaknesses, based on currently existing facts, conditions, and values, make collection or liquidation in full highly questionable and improbable. Loans by credit grade, segregated by loan type, and year originated as of June 30, 2024 are as follows: Term Loans Amortized Cost Basis by Origination Revolving Revolving Loans Converted 2024 2023 2022 2021 2020 Prior Loans to Term Total Commercial Real Estate Pass $ 22,686,513 $ 27,392,484 $ 73,202,038 $ 55,321,128 $ 20,083,107 $ 163,931,870 $ 3,126,023 $ - $ 365,743,163 Special Mention - - - - - - - - - Substandard - - - - - 9,261,817 - - 9,261,817 Doubtful - - - - - - - - - Total $ 22,686,513 $ 27,392,484 $ 73,202,038 $ 55,321,128 $ 20,083,107 $ 173,193,687 $ 3,126,023 $ - $ 375,004,980 Construction and Land Development Pass $ 1,328,425 $ 3,105,220 $ 6,547,833 $ 1,476,429 $ 975,009 $ 6,279,346 $ - $ - $ 19,712,262 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total $ 1,328,425 $ 3,105,220 $ 6,547,833 $ 1,476,429 $ 975,009 $ 6,279,346 $ - $ - $ 19,712,262 Residential Real Estate Pass $ 6,454,708 $ 10,227,748 $ 18,247,913 $ 9,810,190 $ 7,338,084 $ 50,556,839 $ 6,651,326 $ - $ 109,286,808 Special Mention - - - - - - - - - Substandard - - - - - 1,642,744 - - 1,642,744 Doubtful - - - - - - - - - Total $ 6,454,708 $ 10,227,748 $ 18,247,913 $ 9,810,190 $ 7,338,084 $ 52,199,583 $ 6,651,326 $ - $ 110,929,552 Commercial Pass $ 7,147,076 $ 5,587,940 $ 6,378,892 $ 2,844,724 $ 843,019 $ 1,438,325 $ 20,677,544 $ - $ 44,917,520 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total $ 7,147,076 $ 5,587,940 $ 6,378,892 $ 2,844,724 $ 843,019 $ 1,438,325 $ 20,677,544 $ - $ 44,917,520 Consumer Pass $ 47,217 $ 65,919 $ 15,627 $ 2,146 $ 3,957 $ 2,026 $ - $ - $ 136,892 Special Mention - - - - - - - - - Substandard - 3,459 - 1,124 - - - - 4,583 Doubtful - - - - - - 26,994 - 26,994 Total $ 47,217 $ 69,378 $ 15,627 $ 3,270 $ 3,957 $ 2,026 $ 26,994 $ - $ 168,469 Aggregate total Pass $ 37,663,939 $ 46,379,311 $ 104,392,303 $ 69,454,617 $ 29,243,176 $ 222,208,406 $ 30,454,893 $ - $ 539,796,645 Special Mention - - - - - - - - - Substandard - 3,459 - 1,124 - 10,904,561 - - 10,909,144 Doubtful - - - - - - 26,994 - 26,994 Total $ 37,663,939 $ 46,382,770 $ 104,392,303 $ 69,455,741 $ 29,243,176 $ 233,112,967 $ 30,481,887 $ - $ 550,732,783 Charge-offs $ - $ 3,330 $ - $ - $ - $ 152,449 $ - $ - $ 155,779 Loans by credit grade, segregated by loan type, and year originated as of December 31, 2023 are as follows: Term Loans Amortized Cost Basis by Origination Revolving Revolving Loans Converted 2023 2022 2021 2020 2019 Prior Loans to Term Total Commercial Real Estate Pass $ 27,500,909 $ 73,944,442 $ 54,973,818 $ 20,540,492 $ 25,102,276 $ 147,755,491 $ 2,694,268 $ - $ 352,511,696 Special Mention - - - - - - - - - Substandard - - - - - 9,430,815 - - 9,430,815 Doubtful - - - - - - - - - Total $ 27,500,909 $ 73,944,442 $ 54,973,818 $ 20,540,492 $ 25,102,276 $ 157,186,306 $ 2,694,268 $ - $ 361,942,511 Construction and Land Development Pass $ 3,359,456 $ 6,519,085 $ 4,623,119 $ 642,571 $ 309,038 $ 4,992,881 $ - $ - $ 20,446,150 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total $ 3,359,456 $ 6,519,085 $ 4,623,119 $ 642,571 $ 309,038 $ 4,992,881 $ - $ - $ 20,446,150 Residential Real Estate Pass $ 10,109,347 $ 18,603,074 $ 9,870,791 $ 6,793,326 $ 16,218,714 $ 40,015,758 $ 9,501,733 $ - $ 111,112,743 Special Mention - - - - - - - - - Substandard - - - - - 1,676,888 - - 1,676,888 Doubtful - - - - - - - - - Total $ 10,109,347 $ 18,603,074 $ 9,870,791 $ 6,793,326 $ 16,218,714 $ 41,692,646 $ 9,501,733 $ - $ 112,789,631 Commercial Pass $ 7,016,763 $ 8,074,370 $ 3,264,342 $ 1,225,297 $ 884,537 $ 910,042 $ 11,295,272 $ - $ 32,670,623 Special Mention - - - - - - - - - Substandard - - - - 152,449 - - - 152,449 Doubtful - - - - - - - - - Total $ 7,016,763 $ 8,074,370 $ 3,264,342 $ 1,225,297 $ 1,036,986 $ 910,042 $ 11,295,272 $ - $ 32,823,072 Consumer Pass $ 92,295 $ 32,771 $ 4,179 $ 4,895 $ 7,226 $ 2 $ - $ - $ 141,368 Special Mention - - - - - - - - - Substandard 6,106 - 1,524 - - - - - 7,630 Doubtful - - - - - - 16,138 - 16,138 Total $ 98,401 $ 32,771 $ 5,703 $ 4,895 $ 7,226 $ 2 $ 16,138 $ - $ 165,136 Aggregate total Pass $ 48,078,770 $ 107,173,742 $ 72,736,249 $ 29,206,581 $ 42,521,791 $ 193,674,174 $ 23,491,273 $ - $ 516,882,580 Special Mention - - - - - - - - - Substandard 6,106 - 1,524 - 152,449 11,107,703 - - 11,267,782 Doubtful - - - - - - 16,138 - 16,138 Total $ 48,084,876 $ 107,173,742 $ 72,737,773 $ 29,206,581 $ 42,674,240 $ 204,781,877 $ 23,507,411 $ - $ 528,166,500 Charge-offs $ - $ - $ - $ - $ - $ - $ - $ - $ - The following table details activity in the allowance for credit losses and loan balances by portfolio as of and for the three- and six-month periods ended June 30, 2024 and 2023 and for the year ended December 31, 2023. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. Allowance for credit losses ending Outstanding loan balances Provision for balance evaluated for impairment: evaluated: Six months ended Beginning (recovery of) Charge Ending June 30, 2024 balance credit losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 2,449,988 $ 101,967 $ - $ - $ 2,551,955 $ 392,551 $ 2,159,404 $ 2,441,900 $ 372,563,080 Construction and land development 253,173 (48,220 ) - - 204,953 - 204,953 - 19,712,262 Residential 1,012,938 (157,307 ) - 12,000 867,631 - 867,631 272,741 110,656,811 Commercial 493,502 96,720 (152,449 ) - 437,773 - 437,773 - 44,917,520 Consumer 2,080 4,209 (3,330 ) - 2,959 - 2,959 - 168,469 Unallocated 73,566 (56,739 ) - - 16,827 - 16,827 - - $ 4,285,247 $ (59,370 ) $ (155,779 ) $ 12,000 $ 4,082,098 $ 392,551 $ 3,689,547 $ 2,714,641 $ 548,018,142 Allowance for credit losses ending Outstanding loan balances Provision for balance evaluated for impairment: evaluated: Six months ended Beginning Impact of ASC (recovery of) Charge Ending June 30, 2023 balance 326 Adoption credit losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 2,818,582 $ (350,838 ) $ 205,358 $ - $ - $ 2,673,102 $ 250,000 $ 2,423,102 $ 502,961 $ 366,708,230 Construction and land development 164,596 280,179 (153,094 ) - 11,925 303,606 - 303,606 - 24,940,684 Residential 793,919 538,435 (609,314 ) - 375,048 1,098,088 74,208 1,023,880 278,101 111,776,676 Commercial 337,303 135,200 5,148 - - 477,651 152,449 325,202 152,449 31,721,432 Consumer 4,706 (4,537 ) 3,786 - - 3,955 - 3,955 - 182,095 Unallocated 31,092 (31,092 ) 90,434 - - 90,434 - 90,434 - - $ 4,150,198 $ 567,347 $ (457,682 ) $ - $ 386,973 $ 4,646,836 $ 476,657 $ 4,170,179 $ 933,511 $ 535,329,117 Allowance for credit losses ending Outstanding loan balances Provision for balance evaluated for impairment: evaluated: Beginning Impact of ASC (recovery of) Charge Ending December 31, 2023 balance 326 Adoption credit losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 2,818,582 $ (448,483 ) $ 79,889 $ - $ - $ 2,449,988 $ 297,551 $ 2,152,437 $ 2,515,103 $ 359,427,408 Construction and land development 164,596 277,317 (200,665 ) - 11,925 253,173 - 253,173 - 20,446,150 Residential 793,919 508,579 (676,608 ) - 387,048 1,012,938 - 1,012,938 275,622 112,514,009 Commercial 337,303 133,838 22,361 - - 493,502 152,449 341,053 152,449 32,670,623 Consumer 4,706 (4,526 ) 1,900 - - 2,080 - 2,080 - 165,136 Unallocated 31,092 (31,092 ) 73,566 - - 73,566 - 73,566 - - $ 4,150,198 $ 435,633 $ (699,557 ) $ - $ 398,973 $ 4,285,247 $ 450,000 $ 3,835,247 $ 2,943,174 $ 525,223,326 Loans acquired from Carroll Community Bank in 2020 were measured at fair value at the acquisition date with no carryover of any allowance for credit losses. The following table provides activity for the accretable credit discount of purchased loans: Three Months Six Months Three Months Six Months Ended Ended Ended Ended June 30, 2024 June 30, 2024 June 30, 2023 June 30, 2023 Beginning balance $ 463,960 $ 539,338 $ 818,740 $ 930,973 Accretion (67,116 ) (142,494 ) (102,402 ) (214,635 ) Ending balance $ 396,844 $ 396,844 $ 716,338 $ 716,338 The following table provides activity for the amortizable yield premium of purchased loans: Three Months Six Months Three Months Six Months Ended Ended Ended Ended June 30, 2024 June 30, 2024 June 30, 2023 June 30, 2023 Beginning balance $ 437,936 $ 509,087 $ 772,817 $ 878,756 Amortization (63,351 ) (134,502 ) (96,657 ) (202,596 ) Ending balance $ 374,585 $ 374,585 $ 676,160 $ 676,160 At June 30, 2024 and December 31, 2023, the aggregate principal balance of purchased loans was $68,069,276 and $74,146,002, respectively, and the aggregate carrying value was $68,047,017 and $74,115,751, respectively. The following table details activity in the allowance for credit losses on unfunded loan commitments for the three- and six-month periods ended June 30, 2024 and 2023: Three Months Six Months Three Months Six Months Ended Ended Ended Ended June 30, 2024 June 30, 2024 June 30, 2023 June 30, 2023 Beginning balance $ 203,847 $ 227,643 $ 76,471 $ - Impact of adopting ASC 326 - - - 85,073 Credit loss recovery (7,838 ) (31,634 ) (27,171 ) (35,773 ) Ending balance $ 196,009 $ 196,009 $ 49,300 $ 49,300 The following table provides a summary of all of the components of the allowance for credit losses: Three Months Ended June 30, 2024 Six Months Ended June 30, 2024 Held to maturity securities Loans Unfunded loan commitments Total Held to maturity securities Loans Unfunded loan commitments Total Beginning balance $ 31,670 $ 4,317,837 $ 203,847 $ 4,553,354 $ 35,627 $ 4,285,247 $ 227,643 $ 4,548,517 Provision (recovery) of credit losses 94,961 (87,123 ) (7,838 ) - 91,004 (59,370 ) (31,634 ) - Charge-offs - (154,616 ) - (154,616 ) - (155,779 ) - (155,779 ) Recoveries - 6,000 - 6,000 - 12,000 - 12,000 Ending balance $ 126,631 $ 4,082,098 $ 196,009 $ 4,404,738 $ 126,631 $ 4,082,098 $ 196,009 $ 4,404,738 Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Held to maturity securities Loans Unfunded loan commitments Total Held to maturity securities Loans Unfunded loan commitments Total Beginning balance $ 60,592 $ 4,822,643 $ 76,471 $ 4,959,706 $ - $ 4,150,198 $ - $ 4,150,198 Impact of adopting ASC 326 - - - - 51,990 567,347 85,073 704,410 Provision (recovery) of credit losses (10,147 ) (187,682 ) (27,171 ) (225,000 ) (1,545 ) (457,682 ) (35,773 ) (495,000 ) Charge-offs - - - - - - - - Recoveries - 11,875 - 11,875 - 386,973 - 386,973 Ending balance $ 50,445 $ 4,646,836 $ 49,300 $ 4,746,581 $ 50,445 $ 4,646,836 $ 49,300 $ 4,746,581

Note 5 - Goodwill and Other Int

Note 5 - Goodwill and Other Intangibles	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Goodwill and Intangible Assets Disclosure [Text Block]	5. Goodwill and Other Intangibles The Company’s acquisitions of Carroll Bancorp, Inc. and Carroll Community Bank in 2020 (collectively, the “Merger”) resulted in the recording of goodwill and a core deposit intangible (“CDI”). The following table presents the changes in both assets for the six-month periods ended June 30, 2024 and 2023: Goodwill CDI Total Balance at December 31, 2022 $ 6,978,208 $ 64,544 $ 7,042,752 Amortization - (4,164 ) (4,164 ) Balance at June 30, 2023 $ 6,978,208 $ 60,380 $ 7,038,588 Balance at December 31, 2023 $ 6,978,208 $ 56,216 $ 7,034,424 Amortization - (4,164 ) (4,164 ) Balance at June 30, 2024 $ 6,978,208 $ 52,052 $ 7,030,260 The CDI is being amortized over 10 years on a straight-line basis. Annual amortization will be $8,328 per year through year nine and $6,246 in year 10. Because the Merger was a tax-free reorganization, neither the goodwill nor the CDI is deductible for income tax purposes. A goodwill impairment analysis is performed annually.

Note 6 - Capital Standards

Note 6 - Capital Standards	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Regulatory Capital Requirements under Banking Regulations [Text Block]	6. Capital Standards The Bank is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory, and possible additional, discretionary actions by the regulators that, if undertaken, could have a direct material effect on our financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, we must meet specific capital guidelines that involve quantitative measures of our assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. Our capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. The Basel III Capital Rules became effective for the Bank on January 1, 2015 (subject to a phase-in period for certain provisions). 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 capital, Tier 1 capital, and Total capital (as defined in the regulations) to risk-weighted assets (as defined), and of Tier 1 capital to adjusted quarterly average assets (as defined). 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 capital. Common Equity Tier 1 capital for the Bank is reduced by goodwill and other intangible assets, net of associated deferred tax liabilities and subject to transition provisions. Under the revised prompt corrective action requirements, insured depository institutions are required to meet the following in order to qualify as “well capitalized:” (i) a Common Equity Tier 1 risk-based capital ratio of 6.5%; (ii) a Tier 1 risk-based capital ratio of 8%; (iii) a total risk-based capital ratio of 10%; and (iv) a Tier 1 leverage ratio of 5%. The implementation of the capital conservation buffer began on January 1, 2015, at the 0.625% level and was phased in over a four-year period (increasing by that amount on each subsequent January 1, until it reached 2.5% on January 1, 2019). The Basel III Capital Rules also provide for a “countercyclical capital buffer” that is applicable to only certain covered institutions and does not have current applicability to the Bank. 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 capital to risk-weighted assets above the minimum but below the conservation buffer (or below the combined capital conservation buffer and countercyclical capital buffer, when the latter is applied) will face constraints on dividends, equity repurchases, and compensation based on the amount of the shortfall. On September 17, 2019, the Federal Deposit Insurance Corporation (the “FDIC”) finalized a rule that introduces an optional simplified measure of capital adequacy for qualifying community banking organizations (i.e., the community bank leverage ratio (“CBLR”) framework), as required by the Economic Growth, Regulatory Relief and Consumer Protection Act. The CBLR framework is designed to reduce burden by removing the requirements for calculating and reporting risk-based capital ratios for qualifying community banking organizations that opt into the framework. On April 6, 2020, in a joint statement, the FDIC, Board of Governors of the Federal Reserve System and the Office of Comptroller of the Currency issued two interim final rules regarding temporary changes to the CBLR framework to implement provisions of the federal CARES Act. Under the interim final rules, the community bank leverage ratio was reduced to 8% beginning in the second quarter and for the remainder of calendar year 2020, 8.5% for calendar year 2021, and 9% thereafter. In order to qualify for the CBLR framework, a community banking organization must have a tier 1 leverage ratio of greater than 8%, less than $10 billion in total consolidated assets, and limited amounts of off-balance-sheet exposures and trading assets and liabilities. A qualifying community banking organization that opts into the CBLR framework and meets all requirements under the framework will be considered to have met the well-capitalized ratio requirements under the Prompt Corrective Action regulations and will not be required to report or calculate risk-based capital. The Company has not opted-in to the CBLR framework. As of June 30, 2024 the most recent notification from the FDIC has categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized the Bank must maintain ratios as set forth in the table. There have been no conditions or events since that notification that management believes have changed the Bank’s category. Capital ratios of the Company are substantially the same as the Bank’s. The FDIC, through formal or informal agreement, has the authority to require an institution to maintain higher capital ratios than those provided by statute, to be categorized as well capitalized under the regulatory framework for prompt corrective action. The following table presents actual and required capital ratios as of June 30, 2024 and December 31, 2023, for the Bank under the Basel III Capital Rules. The minimum required capital amounts presented include the minimum required capital levels as of June 30, 2024 and December 31, 2023, based on the provisions of the Basel III Capital Rules. Capital levels required to be considered well capitalized are based upon prompt corrective action regulations, as amended to reflect the changes under the Basel III Capital Rules. Minimum To Be Well (Dollars in thousands) Actual Capital Adequacy Capitalized June 30, 2024 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 80,669 12.88 % $ 65,769 10.50 % $ 62,637 10.00 % Tier 1 capital (to risk-weighted assets) 76,269 12.18 % 53,242 8.50 % 50,110 8.00 % Common equity tier 1 (to risk-weighted assets) 76,269 12.18 % 43,846 7.00 % 40,714 6.50 % Tier 1 leverage (to average assets) 76,269 9.58 % 31,857 4.00 % 39,821 5.00 % Minimum To Be Well (Dollars in thousands) Actual Capital Adequacy Capitalized December 31, 2023 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 79,988 13.45 % $ 62,437 10.50 % $ 59,464 10.00 % Tier 1 capital (to risk-weighted assets) 75,440 12.69 % 50,544 8.50 % 47,571 8.00 % Common equity tier 1 (to risk-weighted assets) 75,440 12.69 % 41,625 7.00 % 38,651 6.50 % Tier 1 leverage (to average assets) 75,440 9.42 % 32,051 4.00 % 40,063 5.00 %

Note 7 - Derivative Financial I

Note 7 - Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2024
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 represent amounts exchanged by the parties. The amount exchanged is determined by reference to the notional amount and other terms of the individual interest rate swap agreements. Fair Value Hedges: Interest rate swaps with notional amounts totaling $55.2 million as of June 30, 2024 were designated as fair value last of layer hedges of certain government agency mortgage backed securities. There were no interest rate swaps prior to 2023. The hedges were determined to be effective during all periods presented. The Company expects the hedges to remain effective during the remaining terms of the swaps. The following table presents the amounts recorded on the balance sheet related to cumulative basis adjustments for fair value hedges at June 30, 2024 and December 31, 2023: Line item in Carrying Carrying the balance sheet Carrying amount of fair Carrying amount of fair in which the amount of the value hedging amount of the value hedging hedged item is hedged assets adjustment hedged assets adjustment included June 30, 2024 June 30, 2024 December 31, 2023 December 31, 2023 Securities available $ 63,126,375 $ (123,286 ) $ 69,920,575 $ (1,609,248 ) The Company presents derivative positions gross on the balance sheet. The following table reflects the derivatives recorded on the balance sheet at June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 Fair Fair Value Value Included in other assets: Derivatives designated as hedges: Interest rate swaps related to securities available for sale $ 327,535 $ - Total included in other assets $ 327,535 $ - Included in other liabilities: Derivatives designated as hedges: Interest rate swaps related to securities available for sale $ 450,756 $ 1,563,527 Total included in other liabilities $ 450,756 $ 1,563,527 The effect of fair value hedge accounting on the statement of income for the three- and six-month periods ended June 30, 2024 and 2023 are as follows: 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 June 30, 2024 Six Months Ended June 30, 2024 Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Interest Interest Interest Interest Income Income Income Income The effects of fair value hedging: Loss (gain) on fair value hedging relationships: Hedged items $ 11,594 $ 65 $ (2,108 ) $ 32,005 Interest rate contracts designated as hedging instruments 176,762 356,972 32,356 41,741 Net gain on fair value hedging relationships included in interest income from investment securities- taxable $ 188,356 $ 357,037 $ 30,248 $ 73,746

Note 8 - Fair Value

Note 8 - Fair Value	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Fair Value Disclosures [Text Block]	8. Fair Value In accordance with FASB Accounting Standards Codification (“ASC”) Topic 820, “Fair Value Measurements and Disclosure”, the Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability (“an exit price”) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. 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 a forced liquidation or distressed sale) between market participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment. The fair value is a reasonable point within the range that is the most representative of fair value under current market conditions. 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 levels of the fair value hierarchy under ASC Topic 820 based on these two types of inputs, are as follows: ● Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. ● Level 2: Significant other observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, and other inputs that are observable or can be corroborated by observable market data. ● Level 3: Significant unobservable inputs that reflect the Company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. 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 available, fair value is determined using quoted market prices for similar securities. ● 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 active, OREO subjected to nonrecurring fair value adjustments based on the current appraised value of the real estate are classified as Level 3. The appraised value is obtained annually from an independent third party appraiser and is reduced by expected sales costs, which has historically been 10% of the appraised value. ● 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 active, such loans subjected to nonrecurring fair value adjustments based on the current appraised value of the collateral are classified as Level 3. The appraised value is obtained annually from an independent third party appraiser and is reduced by expected sales costs, which has historically been 10% of the appraised value. ● Fair value hedges: The market value based on independent third party valuation sources that uses observable and traded prices of interest rate swaps from leading banks and brokers. The following table summarizes financial assets measured at fair value on a recurring and nonrecurring basis at June 30, 2024 and December 31, 2023, segregated by the level of the valuation inputs within the fair value hierarchy utilized to measure fair value: Carrying Value: June 30, 2024 Level 1 Level 2 Level 3 Total Recurring: Available for sale securities State and municipal $ - $ 483,018 $ - $ 483,018 SBA pools - 715,125 - 715,125 Corporate bonds - 7,660,463 - 7,660,463 Mortgage-backed securities - 148,665,962 - 148,665,962 $ - $ 157,524,568 $ - $ 157,524,568 Fair value hedge in other assets $ - $ 327,535 $ - $ 327,535 Equity security at fair value Mutual fund $ 508,333 $ - $ - $ 508,333 Fair value hedge in other liabilities $ - $ 450,756 $ - $ 450,756 Nonrecurring: Other real estate owned, net $ - $ - $ 1,242,365 $ 1,242,365 Collateral-dependent loans, net $ - $ - $ 2,059,349 $ 2,059,349 Carrying Value: December 31, 2023 Level 1 Level 2 Level 3 Total Recurring: Available for sale securities State and municipal $ - $ 484,808 $ - $ 484,808 SBA pools - 766,710 - 766,710 Corporate bonds - 8,570,429 - 8,570,429 Mortgage-backed securities - 154,262,726 - 154,262,726 $ - $ 164,084,673 $ - $ 164,084,673 Equity security at fair value Mutual fund $ 507,130 $ - $ - $ 507,130 Fair value hedge in other liabilities $ - $ 1,563,527 $ - $ 1,563,527 Nonrecurring: Other real estate owned, net $ - $ - $ 1,242,365 $ 1,242,365 Collateral-dependent loans, net $ - $ - $ 205,410 $ 205,410 The following table provides information describing the unobservable inputs used in level 3 fair value measurements at June 30, 2024 and December 31, 2023: June 30, 2024: Assets Fair Value Valuation Technique Unobservable Inputs Range (Average) Collateral-dependent loans $ 2,059,349 Third party appraisals Marketability/selling 0% to 20% (10%) and in-house real estate costs and current market valuations of fair value conditions Other real estate owned $ 1,242,365 Third party appraisals Marketability/selling 0% to 10% (5%) and in-house real estate costs and current market valuations of fair value conditions December 31, 2023: Assets Fair Value Valuation Techniques Unobservable Input Average Collateral-dependent loans $ 205,410 Third party appraisals Marketability/selling 0% to 20% (10%) and in-house real estate costs and current market valuations of fair value conditions Other real estate owned $ 1,242,365 Third party appraisals Marketability/selling 0% to 10% (5%) and in-house real estate costs and current market valuations of fair value conditions 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: June 30, 2024 December 31, 2023 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets Level 1 inputs Cash and cash equivalents $ 24,510,320 $ 24,510,320 $ 44,690,337 $ 44,690,337 Level 2 inputs Certificates of deposit in other banks 100,000 100,000 100,000 100,000 Accrued interest receivable 2,191,090 2,191,090 2,180,734 2,180,734 Securities available for sale 157,524,568 157,524,568 164,084,673 164,084,673 Securities held to maturity, net 17,265,693 15,894,901 17,293,422 16,193,020 Equity security 508,333 508,333 507,130 507,130 Restricted stock 1,395,900 1,395,900 863,500 863,500 Bank owned life insurance 15,115,536 15,115,536 14,930,754 14,930,754 Fair value hedge 327,535 327,535 - - Level 3 inputs Securities held to maturity, net 2,870,200 2,870,200 2,870,200 2,870,200 Loans, net 546,036,461 532,558,685 523,308,044 507,138,253 Financial liabilities Level 1 inputs Noninterest-bearing deposits $ 108,907,898 $ 108,907,898 $ 115,284,706 $ 115,284,706 Securities sold under repurchase agreements 2,758,183 2,758,183 6,760,493 6,760,493 Level 2 inputs Interest-bearing deposits 542,301,597 542,792,597 565,678,145 566,925,060 Federal Home Loan Bank advances 15,000,000 14,848,000 5,000,000 4,754,000 Federal Reserve Bank advances 54,000,000 53,651,745 33,000,000 32,996,852 Long-term debt, net 12,270,747 11,627,000 13,212,378 12,428,000 Accrued interest payable 2,217,250 2,217,250 1,482,773 1,482,773 Fair value hedge 450,756 450,756 1,563,527 1,563,527

Note 9 - Earnings Per Share

Note 9 - Earnings Per Share	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	9. Earnings per Share Earnings per share is determined by dividing net income by the weighted average number of shares of common stock outstanding, giving retroactive effect to any stock dividends. 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 effect on income available to common shareholders. There were 294 and 250 restricted stock units included in weighted average dilutive shares for the three- and six-month periods ended June 30, 2024, respectively. There were no Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Net income $ 1,078,509 $ 1,670,117 $ 2,298,496 $ 3,570,968 Weighted average shares outstanding - basic 3,120,967 3,073,319 3,118,966 3,072,272 Effect of dilutive restricted stock units 294 - 250 - Weighted average shares outstanding - diluted 3,121,261 3,073,319 3,119,216 3,072,272 Earnings per share - basic $ 0.35 $ 0.54 $ 0.74 $ 1.16 Earnings per share - diluted $ 0.35 $ 0.54 $ 0.74 $ 1.16

Note 10 - Retirement Plans

Note 10 - Retirement Plans	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Retirement Benefits [Text Block]	10. Retirement Plans The Company has a profit sharing plan qualifying under Section 401(k) of the Internal Revenue Code. All employees age 21 or older with six months of service are eligible for participation in the plan. The Company matches employee contributions up to 4% of total compensation and may make additional discretionary contributions. Employee and employer contributions are 100% vested when made. The Company’s contributions to this plan were $68,063 and $65,775 for the three-month periods ended June 30, 2024 and 2023, respectively, and $148,353 and $143,450 for the six-month periods ended June 30, 2024 and 2023, respectively.. 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. Some of the policies provide benefits subsequent to the employee’s employment with the Company. For this plan, the Company expensed $1,976 and $1,834 for the three-month periods ended June 30, 2024 and 2023, respectively, and $3,952 and $3,668 for the six-month periods ended June 30, 2024 and 2023, respectively. The Company adopted supplemental executive retirement plans for four Retirement plan expenses are included in employee benefits on the Consolidated Statements of Income.

Note 11 - Borrowed Funds

Note 11 - Borrowed Funds	6 Months Ended
	Jun. 30, 2024
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 (the “Reserve Bank”), term borrowings from a commercial bank, and overnight borrowings from commercial banks. Additional information is as follows: June 30, December 31, 2024 2023 Amount oustanding at period-end: Securities sold under repurchase agreements $ 2,758,183 $ 6,760,493 Federal Home Loan Bank advances mature in: 2025 15,000,000 5,000,000 Federal Reserve Bank advances mature in: 2024 - 33,000,000 2025 54,000,000 - Long-term debt (net of issuance costs) 12,270,747 13,212,378 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 $60.7 million under a secured line of credit with the FHLB. The Bank also has two facilities with the Reserve Bank. Under the first facility, which has been in place for over 10 years and is collateralized by loans, the Bank can borrow approximately $30.9 million. The second facility is the Bank Term Funding Program (“BTFP”) that the Reserve Bank created in 2023. The BTFP facility allows securities to be pledged at par, provides fixed rates for up to one-year terms, and allows prepayments in whole or in part at any time. Effective March 11, 2024, no new advances can be obtained through the BTFP facility. Finally, the Bank has $23,500,000 ($ 14,500,000 FHLB advances of $15,000,000 and $5,000,000 were outstanding as of June 30, 2024 and December 31, 2023, respectively. BTFP advances of $54,000,000 and $33,000,000 were outstanding as of June 30, 2024 and December 31, 2023, respectively. The Company borrowed $17,000,000 to facilitate the Merger in 2020. There were no

Note 12 - Stock-based Compensat

Note 12 - Stock-based Compensation	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	12. Stock-Based Compensation On August 22, 2023, the Board of Directors approved the Farmers and Merchants Bancshares, Inc. 2023 Equity Compensation Plan (the “Equity Plan”). The Equity Plan allows the Board of Directors or its Compensation Committee to grant awards that may be payable in shares of common stock or the cash equivalent thereof. The Company complies with the provisions of ASC Topic 718, Compensation-Stock Compensation, in measuring and disclosing stock compensation cost. The measurement objective in ASC Paragraph 718-10-30-6 requires public companies to measure the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. The cost is recognized in expense over the period in which an employee is required to provide service in exchange for the award (the vesting period). During the year ended December 31, 2023, 2,000 fully vested shares of common stock and 3,000 restricted stock units (the “RSUs”) were granted to one executive officer. One-third one-third one-third A summary of the Company’s restricted stock unit grant activity as of June 30, 2024 is shown below: Number of Grant Date Shares Fair Value per Share Balance at December 31, 2023 3,000 18.15 Granted - - Vested - - Forefeited - - Balance at June 30, 2024 3,000 18.15 The compensation cost charged to income in respect of awards granted under the Equity Plan was $4,538 and $9,075 for the three- and six-month periods ended June 30, 2024, respectively. As of June 30, 2024, there was $40,836 of unrecognized compensation cost related to the unvested RSUs, which is expected to be recognized over a period of 27 months.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]		Item 5. Other Information None
Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Note 3 - Investment Securities

Note 3 - Investment Securities (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Marketable Securities [Table Text Block]	Amortized Unrealized Unrealized Fair Allowance for Net Amortized June 30, 2024 cost gains losses value Credit Losses Amount Available for sale State and municipal $ 500,000 $ - $ 16,982 $ 483,018 $ - $ 483,018 SBA pools 720,085 1,897 6,857 715,125 - 715,125 Corporate bonds 8,814,018 - 1,153,555 7,660,463 - 7,660,463 Mortgage-backed securities 170,808,981 621,265 22,764,284 148,665,962 - 148,665,962 $ 180,843,084 $ 623,162 $ 23,941,678 $ 157,524,568 $ - $ 157,524,568 Held to maturity State and municipal $ 20,262,524 $ 592 $ 1,371,384 $ 18,891,732 $ 126,631 $ 20,135,893 Amortized Unrealized Unrealized Fair Allowance for Net Carrying December 31, 2023 cost gains losses value Credit Losses Amount Available for sale State and municipal $ 500,000 $ - $ 15,192 $ 484,808 $ - $ 484,808 SBA pools 776,686 1,160 11,136 766,710 - 766,710 Corporate bonds 9,853,988 - 1,283,559 8,570,429 - 8,570,429 Mortgage-backed securities 175,742,562 1,025,623 22,505,459 154,262,726 - 154,262,726 $ 186,873,236 $ 1,026,783 $ 23,815,346 $ 164,084,673 $ - $ 164,084,673 Held to maturity State and municipal $ 20,199,249 $ 39,537 $ 1,175,565 $ 19,063,221 $ 35,627 $ 20,163,622
Debt Securities, Held-to-Maturity, Credit Quality Indicator [Table Text Block]	June 30, 2024 December 31, 2023 AAA $ 2,794,320 $ 2,785,955 AA 10,477,327 10,434,388 A 3,816,717 3,808,365 BAA 253,557 250,661 Not rated 2,920,603 2,919,880 Total $ 20,262,524 $ 20,199,249
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Table Text Block]	Three Months Six Months Three Months Six Months Ended Ended Ended Ended June 30, 2024 June 30, 2024 June 30, 2023 June 30, 2023 Beginning balance $ 31,670 $ 35,627 $ 60,592 $ - Impact of adopting ASC 326 - - - 51,990 Credit loss (recovery) provision 94,961 91,004 (10,147 ) (1,545 ) Ending balance $ 126,631 $ 126,631 $ 50,445 $ 50,445
Investments Classified by Contractual Maturity Date [Table Text Block]	Available for Sale Held to Maturity Amortized Fair Amortized Fair June 30, 2024 cost value cost value Within one year $ 1,754,504 $ 1,729,691 $ 230,000 $ 229,593 Over one to five years 500,000 483,018 671,211 656,312 Over five to ten years 7,059,514 5,930,774 6,470,309 6,107,565 Over ten years - - 12,891,004 11,898,262 9,314,018 8,143,483 20,262,524 18,891,732 Mortgage-backed securities and SBA pools, due in monthly installments 171,529,066 149,381,085 - - $ 180,843,084 $ 157,524,568 $ 20,262,524 $ 18,891,732
Gain (Loss) on Securities [Table Text Block]	June 30, 2024 Less than 12 months 12 months or more Total Description of investments Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss State and municipal $ - $ - $ 483,018 $ 16,982 $ 483,018 $ 16,982 SBA pools - - 405,234 6,857 405,234 6,857 Corporate bonds - - 7,660,463 1,153,555 7,660,463 1,153,555 Mortgage-backed securities 26,179,412 584,502 97,718,937 22,179,782 123,898,349 22,764,284 Total $ 26,179,412 $ 584,502 $ 106,267,652 $ 23,357,176 $ 132,447,064 $ 23,941,678 December 31, 2023 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 $ 246,608 $ 3,392 $ 238,200 $ 11,800 $ 484,808 $ 15,192 SBA pools - - 659,869 11,136 659,869 11,136 Corporate bonds 341,264 58,736 8,229,165 1,224,823 8,570,429 1,283,559 Mortgage-backed securities 23,840,242 378,379 104,657,869 22,127,080 128,498,111 22,505,459 Total $ 24,428,114 $ 440,507 $ 113,785,103 $ 23,374,839 $ 138,213,217 $ 23,815,346

Note 4 - Loans and Allowance _2

Note 4 - Loans and Allowance for Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	June 30, December 31, 2024 2023 Real estate: Commercial $ 375,004,980 $ 361,942,511 Construction and land development 19,712,262 20,446,150 Residential 110,929,552 112,789,631 Commercial 44,917,520 32,823,072 Consumer 168,469 165,136 550,732,783 528,166,500 Less: Allowance for credit losses 4,082,098 4,285,247 Deferred origination fees net of costs 614,224 573,209 $ 546,036,461 $ 523,308,044
Financing Receivable, Nonaccrual [Table Text Block]	Nonaccrual Nonaccrual With No With Allowance Allowance for Credit Loss for Credit Loss June 30, 2024 Real estate: Commercial $ - $ 403,853 Construction and land development - - Residential - - Commercial - - Consumer - - $ - $ 403,853 December 31, 2023 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 Past Due 90 30 - 59 Days 60 - 89 Days or More Total Total Days or More Past Due Past Due Past Due Past Due Current Loans and Accruing June 30, 2024 Real estate: Commercial $ 1,999,801 $ - $ 403,853 $ 2,403,654 $ 372,601,326 $ 375,004,980 $ - Construction and land development - - - - 19,712,262 19,712,262 - Residential - - - - 110,929,552 110,929,552 - Commercial - - - - 44,917,520 44,917,520 - Consumer - - - - 168,469 168,469 - Total $ 1,999,801 $ - $ 403,853 $ 2,403,654 $ 548,329,129 $ 550,732,783 $ - December 31, 2023 Real estate: Commercial $ - $ - $ 502,961 $ 502,961 $ 361,439,550 $ 361,942,511 $ - Construction and land development - - - - 20,446,150 20,446,150 - Residential 161,431 - - 161,431 112,628,200 112,789,631 - Commercial - - 152,449 152,449 32,670,623 32,823,072 - Consumer 1,163 - - 1,163 163,973 165,136 - Total $ 162,594 $ - $ 655,410 $ 818,004 $ 527,348,496 $ 528,166,500 $ -
Collateral Dependent Loans [Table Text Block]	June 30, 2024 Real estate: Commercial $ 2,441,900 Construction and land development - Residential 272,741 Commercial - Consumer - $ 2,714,641 December 31, 2023 Real estate: Commercial $ 2,515,103 Construction and land development - Residential 275,622 Commercial 152,449 Consumer - $ 2,943,174
Financing Receivable, Modified [Table Text Block]	For the Three- and Total Class Six- months ended Term of Financing June 30, 2024 Extension Receivable Commercial real estate $ 2,038,047 0.54 % Total $ 2,038,047 0.37 %
Financing Receivable Credit Quality Indicators [Table Text Block]	Term Loans Amortized Cost Basis by Origination Revolving Revolving Loans Converted 2024 2023 2022 2021 2020 Prior Loans to Term Total Commercial Real Estate Pass $ 22,686,513 $ 27,392,484 $ 73,202,038 $ 55,321,128 $ 20,083,107 $ 163,931,870 $ 3,126,023 $ - $ 365,743,163 Special Mention - - - - - - - - - Substandard - - - - - 9,261,817 - - 9,261,817 Doubtful - - - - - - - - - Total $ 22,686,513 $ 27,392,484 $ 73,202,038 $ 55,321,128 $ 20,083,107 $ 173,193,687 $ 3,126,023 $ - $ 375,004,980 Construction and Land Development Pass $ 1,328,425 $ 3,105,220 $ 6,547,833 $ 1,476,429 $ 975,009 $ 6,279,346 $ - $ - $ 19,712,262 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total $ 1,328,425 $ 3,105,220 $ 6,547,833 $ 1,476,429 $ 975,009 $ 6,279,346 $ - $ - $ 19,712,262 Residential Real Estate Pass $ 6,454,708 $ 10,227,748 $ 18,247,913 $ 9,810,190 $ 7,338,084 $ 50,556,839 $ 6,651,326 $ - $ 109,286,808 Special Mention - - - - - - - - - Substandard - - - - - 1,642,744 - - 1,642,744 Doubtful - - - - - - - - - Total $ 6,454,708 $ 10,227,748 $ 18,247,913 $ 9,810,190 $ 7,338,084 $ 52,199,583 $ 6,651,326 $ - $ 110,929,552 Commercial Pass $ 7,147,076 $ 5,587,940 $ 6,378,892 $ 2,844,724 $ 843,019 $ 1,438,325 $ 20,677,544 $ - $ 44,917,520 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total $ 7,147,076 $ 5,587,940 $ 6,378,892 $ 2,844,724 $ 843,019 $ 1,438,325 $ 20,677,544 $ - $ 44,917,520 Consumer Pass $ 47,217 $ 65,919 $ 15,627 $ 2,146 $ 3,957 $ 2,026 $ - $ - $ 136,892 Special Mention - - - - - - - - - Substandard - 3,459 - 1,124 - - - - 4,583 Doubtful - - - - - - 26,994 - 26,994 Total $ 47,217 $ 69,378 $ 15,627 $ 3,270 $ 3,957 $ 2,026 $ 26,994 $ - $ 168,469 Aggregate total Pass $ 37,663,939 $ 46,379,311 $ 104,392,303 $ 69,454,617 $ 29,243,176 $ 222,208,406 $ 30,454,893 $ - $ 539,796,645 Special Mention - - - - - - - - - Substandard - 3,459 - 1,124 - 10,904,561 - - 10,909,144 Doubtful - - - - - - 26,994 - 26,994 Total $ 37,663,939 $ 46,382,770 $ 104,392,303 $ 69,455,741 $ 29,243,176 $ 233,112,967 $ 30,481,887 $ - $ 550,732,783 Charge-offs $ - $ 3,330 $ - $ - $ - $ 152,449 $ - $ - $ 155,779 Term Loans Amortized Cost Basis by Origination Revolving Revolving Loans Converted 2023 2022 2021 2020 2019 Prior Loans to Term Total Commercial Real Estate Pass $ 27,500,909 $ 73,944,442 $ 54,973,818 $ 20,540,492 $ 25,102,276 $ 147,755,491 $ 2,694,268 $ - $ 352,511,696 Special Mention - - - - - - - - - Substandard - - - - - 9,430,815 - - 9,430,815 Doubtful - - - - - - - - - Total $ 27,500,909 $ 73,944,442 $ 54,973,818 $ 20,540,492 $ 25,102,276 $ 157,186,306 $ 2,694,268 $ - $ 361,942,511 Construction and Land Development Pass $ 3,359,456 $ 6,519,085 $ 4,623,119 $ 642,571 $ 309,038 $ 4,992,881 $ - $ - $ 20,446,150 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total $ 3,359,456 $ 6,519,085 $ 4,623,119 $ 642,571 $ 309,038 $ 4,992,881 $ - $ - $ 20,446,150 Residential Real Estate Pass $ 10,109,347 $ 18,603,074 $ 9,870,791 $ 6,793,326 $ 16,218,714 $ 40,015,758 $ 9,501,733 $ - $ 111,112,743 Special Mention - - - - - - - - - Substandard - - - - - 1,676,888 - - 1,676,888 Doubtful - - - - - - - - - Total $ 10,109,347 $ 18,603,074 $ 9,870,791 $ 6,793,326 $ 16,218,714 $ 41,692,646 $ 9,501,733 $ - $ 112,789,631 Commercial Pass $ 7,016,763 $ 8,074,370 $ 3,264,342 $ 1,225,297 $ 884,537 $ 910,042 $ 11,295,272 $ - $ 32,670,623 Special Mention - - - - - - - - - Substandard - - - - 152,449 - - - 152,449 Doubtful - - - - - - - - - Total $ 7,016,763 $ 8,074,370 $ 3,264,342 $ 1,225,297 $ 1,036,986 $ 910,042 $ 11,295,272 $ - $ 32,823,072 Consumer Pass $ 92,295 $ 32,771 $ 4,179 $ 4,895 $ 7,226 $ 2 $ - $ - $ 141,368 Special Mention - - - - - - - - - Substandard 6,106 - 1,524 - - - - - 7,630 Doubtful - - - - - - 16,138 - 16,138 Total $ 98,401 $ 32,771 $ 5,703 $ 4,895 $ 7,226 $ 2 $ 16,138 $ - $ 165,136 Aggregate total Pass $ 48,078,770 $ 107,173,742 $ 72,736,249 $ 29,206,581 $ 42,521,791 $ 193,674,174 $ 23,491,273 $ - $ 516,882,580 Special Mention - - - - - - - - - Substandard 6,106 - 1,524 - 152,449 11,107,703 - - 11,267,782 Doubtful - - - - - - 16,138 - 16,138 Total $ 48,084,876 $ 107,173,742 $ 72,737,773 $ 29,206,581 $ 42,674,240 $ 204,781,877 $ 23,507,411 $ - $ 528,166,500 Charge-offs $ - $ - $ - $ - $ - $ - $ - $ - $ -
Financing Receivable, Allowance for Credit Loss [Table Text Block]	Allowance for credit losses ending Outstanding loan balances Provision for balance evaluated for impairment: evaluated: Six months ended Beginning (recovery of) Charge Ending June 30, 2024 balance credit losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 2,449,988 $ 101,967 $ - $ - $ 2,551,955 $ 392,551 $ 2,159,404 $ 2,441,900 $ 372,563,080 Construction and land development 253,173 (48,220 ) - - 204,953 - 204,953 - 19,712,262 Residential 1,012,938 (157,307 ) - 12,000 867,631 - 867,631 272,741 110,656,811 Commercial 493,502 96,720 (152,449 ) - 437,773 - 437,773 - 44,917,520 Consumer 2,080 4,209 (3,330 ) - 2,959 - 2,959 - 168,469 Unallocated 73,566 (56,739 ) - - 16,827 - 16,827 - - $ 4,285,247 $ (59,370 ) $ (155,779 ) $ 12,000 $ 4,082,098 $ 392,551 $ 3,689,547 $ 2,714,641 $ 548,018,142 Allowance for credit losses ending Outstanding loan balances Provision for balance evaluated for impairment: evaluated: Six months ended Beginning Impact of ASC (recovery of) Charge Ending June 30, 2023 balance 326 Adoption credit losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 2,818,582 $ (350,838 ) $ 205,358 $ - $ - $ 2,673,102 $ 250,000 $ 2,423,102 $ 502,961 $ 366,708,230 Construction and land development 164,596 280,179 (153,094 ) - 11,925 303,606 - 303,606 - 24,940,684 Residential 793,919 538,435 (609,314 ) - 375,048 1,098,088 74,208 1,023,880 278,101 111,776,676 Commercial 337,303 135,200 5,148 - - 477,651 152,449 325,202 152,449 31,721,432 Consumer 4,706 (4,537 ) 3,786 - - 3,955 - 3,955 - 182,095 Unallocated 31,092 (31,092 ) 90,434 - - 90,434 - 90,434 - - $ 4,150,198 $ 567,347 $ (457,682 ) $ - $ 386,973 $ 4,646,836 $ 476,657 $ 4,170,179 $ 933,511 $ 535,329,117 Allowance for credit losses ending Outstanding loan balances Provision for balance evaluated for impairment: evaluated: Beginning Impact of ASC (recovery of) Charge Ending December 31, 2023 balance 326 Adoption credit losses offs Recoveries balance Individually Collectively Individually Collectively Real estate: Commercial $ 2,818,582 $ (448,483 ) $ 79,889 $ - $ - $ 2,449,988 $ 297,551 $ 2,152,437 $ 2,515,103 $ 359,427,408 Construction and land development 164,596 277,317 (200,665 ) - 11,925 253,173 - 253,173 - 20,446,150 Residential 793,919 508,579 (676,608 ) - 387,048 1,012,938 - 1,012,938 275,622 112,514,009 Commercial 337,303 133,838 22,361 - - 493,502 152,449 341,053 152,449 32,670,623 Consumer 4,706 (4,526 ) 1,900 - - 2,080 - 2,080 - 165,136 Unallocated 31,092 (31,092 ) 73,566 - - 73,566 - 73,566 - - $ 4,150,198 $ 435,633 $ (699,557 ) $ - $ 398,973 $ 4,285,247 $ 450,000 $ 3,835,247 $ 2,943,174 $ 525,223,326 Three Months Six Months Three Months Six Months Ended Ended Ended Ended June 30, 2024 June 30, 2024 June 30, 2023 June 30, 2023 Beginning balance $ 203,847 $ 227,643 $ 76,471 $ - Impact of adopting ASC 326 - - - 85,073 Credit loss recovery (7,838 ) (31,634 ) (27,171 ) (35,773 ) Ending balance $ 196,009 $ 196,009 $ 49,300 $ 49,300
Accretable Yield of Purchased Loans [Table Text Block]	Three Months Six Months Three Months Six Months Ended Ended Ended Ended June 30, 2024 June 30, 2024 June 30, 2023 June 30, 2023 Beginning balance $ 463,960 $ 539,338 $ 818,740 $ 930,973 Accretion (67,116 ) (142,494 ) (102,402 ) (214,635 ) Ending balance $ 396,844 $ 396,844 $ 716,338 $ 716,338
Amortizable Yield Premium on Purchased Loans [Table Text Block]	Three Months Six Months Three Months Six Months Ended Ended Ended Ended June 30, 2024 June 30, 2024 June 30, 2023 June 30, 2023 Beginning balance $ 437,936 $ 509,087 $ 772,817 $ 878,756 Amortization (63,351 ) (134,502 ) (96,657 ) (202,596 ) Ending balance $ 374,585 $ 374,585 $ 676,160 $ 676,160
Components of Allowance for Credit Losses [Table Text Block]	Three Months Ended June 30, 2024 Six Months Ended June 30, 2024 Held to maturity securities Loans Unfunded loan commitments Total Held to maturity securities Loans Unfunded loan commitments Total Beginning balance $ 31,670 $ 4,317,837 $ 203,847 $ 4,553,354 $ 35,627 $ 4,285,247 $ 227,643 $ 4,548,517 Provision (recovery) of credit losses 94,961 (87,123 ) (7,838 ) - 91,004 (59,370 ) (31,634 ) - Charge-offs - (154,616 ) - (154,616 ) - (155,779 ) - (155,779 ) Recoveries - 6,000 - 6,000 - 12,000 - 12,000 Ending balance $ 126,631 $ 4,082,098 $ 196,009 $ 4,404,738 $ 126,631 $ 4,082,098 $ 196,009 $ 4,404,738 Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Held to maturity securities Loans Unfunded loan commitments Total Held to maturity securities Loans Unfunded loan commitments Total Beginning balance $ 60,592 $ 4,822,643 $ 76,471 $ 4,959,706 $ - $ 4,150,198 $ - $ 4,150,198 Impact of adopting ASC 326 - - - - 51,990 567,347 85,073 704,410 Provision (recovery) of credit losses (10,147 ) (187,682 ) (27,171 ) (225,000 ) (1,545 ) (457,682 ) (35,773 ) (495,000 ) Charge-offs - - - - - - - - Recoveries - 11,875 - 11,875 - 386,973 - 386,973 Ending balance $ 50,445 $ 4,646,836 $ 49,300 $ 4,746,581 $ 50,445 $ 4,646,836 $ 49,300 $ 4,746,581

Note 5 - Goodwill and Other I_2

Note 5 - Goodwill and Other Intangibles (Tables)	6 Months Ended
	Jun. 30, 2024
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 - (4,164 ) (4,164 ) Balance at June 30, 2023 $ 6,978,208 $ 60,380 $ 7,038,588 Balance at December 31, 2023 $ 6,978,208 $ 56,216 $ 7,034,424 Amortization - (4,164 ) (4,164 ) Balance at June 30, 2024 $ 6,978,208 $ 52,052 $ 7,030,260

Note 6 - Capital Standards (Tab

Note 6 - Capital Standards (Tables)	6 Months Ended
	Jun. 30, 2024
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 June 30, 2024 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 80,669 12.88 % $ 65,769 10.50 % $ 62,637 10.00 % Tier 1 capital (to risk-weighted assets) 76,269 12.18 % 53,242 8.50 % 50,110 8.00 % Common equity tier 1 (to risk-weighted assets) 76,269 12.18 % 43,846 7.00 % 40,714 6.50 % Tier 1 leverage (to average assets) 76,269 9.58 % 31,857 4.00 % 39,821 5.00 % Minimum To Be Well (Dollars in thousands) Actual Capital Adequacy Capitalized December 31, 2023 Amount Ratio Amount Ratio Amount Ratio Total capital (to risk-weighted assets) $ 79,988 13.45 % $ 62,437 10.50 % $ 59,464 10.00 % Tier 1 capital (to risk-weighted assets) 75,440 12.69 % 50,544 8.50 % 47,571 8.00 % Common equity tier 1 (to risk-weighted assets) 75,440 12.69 % 41,625 7.00 % 38,651 6.50 % Tier 1 leverage (to average assets) 75,440 9.42 % 32,051 4.00 % 40,063 5.00 %

Note 7 - Derivative Financial_2

Note 7 - Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	Line item in Carrying Carrying the balance sheet Carrying amount of fair Carrying amount of fair in which the amount of the value hedging amount of the value hedging hedged item is hedged assets adjustment hedged assets adjustment included June 30, 2024 June 30, 2024 December 31, 2023 December 31, 2023 Securities available $ 63,126,375 $ (123,286 ) $ 69,920,575 $ (1,609,248 ) June 30, 2024 December 31, 2023 Fair Fair Value Value Included in other assets: Derivatives designated as hedges: Interest rate swaps related to securities available for sale $ 327,535 $ - Total included in other assets $ 327,535 $ - Included in other liabilities: Derivatives designated as hedges: Interest rate swaps related to securities available for sale $ 450,756 $ 1,563,527 Total included in other liabilities $ 450,756 $ 1,563,527
Derivative Instruments, Gain (Loss) [Table Text Block]	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 June 30, 2024 Six Months Ended June 30, 2024 Three Months Ended June 30, 2023 Six Months Ended June 30, 2023 Interest Interest Interest Interest Income Income Income Income The effects of fair value hedging: Loss (gain) on fair value hedging relationships: Hedged items $ 11,594 $ 65 $ (2,108 ) $ 32,005 Interest rate contracts designated as hedging instruments 176,762 356,972 32,356 41,741 Net gain on fair value hedging relationships included in interest income from investment securities- taxable $ 188,356 $ 357,037 $ 30,248 $ 73,746

Note 8 - Fair Value (Tables)

Note 8 - Fair Value (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	Carrying Value: June 30, 2024 Level 1 Level 2 Level 3 Total Recurring: Available for sale securities State and municipal $ - $ 483,018 $ - $ 483,018 SBA pools - 715,125 - 715,125 Corporate bonds - 7,660,463 - 7,660,463 Mortgage-backed securities - 148,665,962 - 148,665,962 $ - $ 157,524,568 $ - $ 157,524,568 Fair value hedge in other assets $ - $ 327,535 $ - $ 327,535 Equity security at fair value Mutual fund $ 508,333 $ - $ - $ 508,333 Fair value hedge in other liabilities $ - $ 450,756 $ - $ 450,756 Nonrecurring: Other real estate owned, net $ - $ - $ 1,242,365 $ 1,242,365 Collateral-dependent loans, net $ - $ - $ 2,059,349 $ 2,059,349 Carrying Value: December 31, 2023 Level 1 Level 2 Level 3 Total Recurring: Available for sale securities State and municipal $ - $ 484,808 $ - $ 484,808 SBA pools - 766,710 - 766,710 Corporate bonds - 8,570,429 - 8,570,429 Mortgage-backed securities - 154,262,726 - 154,262,726 $ - $ 164,084,673 $ - $ 164,084,673 Equity security at fair value Mutual fund $ 507,130 $ - $ - $ 507,130 Fair value hedge in other liabilities $ - $ 1,563,527 $ - $ 1,563,527 Nonrecurring: Other real estate owned, net $ - $ - $ 1,242,365 $ 1,242,365 Collateral-dependent loans, net $ - $ - $ 205,410 $ 205,410
Fair Value Measurements, Nonrecurring [Table Text Block]	June 30, 2024: Assets Fair Value Valuation Technique Unobservable Inputs Range (Average) Collateral-dependent loans $ 2,059,349 Third party appraisals Marketability/selling 0% to 20% (10%) and in-house real estate costs and current market valuations of fair value conditions Other real estate owned $ 1,242,365 Third party appraisals Marketability/selling 0% to 10% (5%) and in-house real estate costs and current market valuations of fair value conditions December 31, 2023: Assets Fair Value Valuation Techniques Unobservable Input Average Collateral-dependent loans $ 205,410 Third party appraisals Marketability/selling 0% to 20% (10%) and in-house real estate costs and current market valuations of fair value conditions Other real estate owned $ 1,242,365 Third party appraisals Marketability/selling 0% to 10% (5%) and in-house real estate costs and current market valuations of fair value conditions
Fair Value, by Balance Sheet Grouping [Table Text Block]	June 30, 2024 December 31, 2023 Carrying Estimated Carrying Estimated Amount Fair Value Amount Fair Value Financial assets Level 1 inputs Cash and cash equivalents $ 24,510,320 $ 24,510,320 $ 44,690,337 $ 44,690,337 Level 2 inputs Certificates of deposit in other banks 100,000 100,000 100,000 100,000 Accrued interest receivable 2,191,090 2,191,090 2,180,734 2,180,734 Securities available for sale 157,524,568 157,524,568 164,084,673 164,084,673 Securities held to maturity, net 17,265,693 15,894,901 17,293,422 16,193,020 Equity security 508,333 508,333 507,130 507,130 Restricted stock 1,395,900 1,395,900 863,500 863,500 Bank owned life insurance 15,115,536 15,115,536 14,930,754 14,930,754 Fair value hedge 327,535 327,535 - - Level 3 inputs Securities held to maturity, net 2,870,200 2,870,200 2,870,200 2,870,200 Loans, net 546,036,461 532,558,685 523,308,044 507,138,253 Financial liabilities Level 1 inputs Noninterest-bearing deposits $ 108,907,898 $ 108,907,898 $ 115,284,706 $ 115,284,706 Securities sold under repurchase agreements 2,758,183 2,758,183 6,760,493 6,760,493 Level 2 inputs Interest-bearing deposits 542,301,597 542,792,597 565,678,145 566,925,060 Federal Home Loan Bank advances 15,000,000 14,848,000 5,000,000 4,754,000 Federal Reserve Bank advances 54,000,000 53,651,745 33,000,000 32,996,852 Long-term debt, net 12,270,747 11,627,000 13,212,378 12,428,000 Accrued interest payable 2,217,250 2,217,250 1,482,773 1,482,773 Fair value hedge 450,756 450,756 1,563,527 1,563,527

Note 9 - Earnings Per Share (Ta

Note 9 - Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Net income $ 1,078,509 $ 1,670,117 $ 2,298,496 $ 3,570,968 Weighted average shares outstanding - basic 3,120,967 3,073,319 3,118,966 3,072,272 Effect of dilutive restricted stock units 294 - 250 - Weighted average shares outstanding - diluted 3,121,261 3,073,319 3,119,216 3,072,272 Earnings per share - basic $ 0.35 $ 0.54 $ 0.74 $ 1.16 Earnings per share - diluted $ 0.35 $ 0.54 $ 0.74 $ 1.16

Note 11 - Borrowed Funds (Table

Note 11 - Borrowed Funds (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Long-Term Debt Instruments [Table Text Block]	June 30, December 31, 2024 2023 Amount oustanding at period-end: Securities sold under repurchase agreements $ 2,758,183 $ 6,760,493 Federal Home Loan Bank advances mature in: 2025 15,000,000 5,000,000 Federal Reserve Bank advances mature in: 2024 - 33,000,000 2025 54,000,000 - Long-term debt (net of issuance costs) 12,270,747 13,212,378

Note 12 - Stock-based Compens_2

Note 12 - Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	Number of Grant Date Shares Fair Value per Share Balance at December 31, 2023 3,000 18.15 Granted - - Vested - - Forefeited - - Balance at June 30, 2024 3,000 18.15

Note 1 - Principles of Consol_2

Note 1 - Principles of Consolidation (Details Textual)	6 Months Ended
	Jun. 30, 2024
First Community Bankers Insurance Co., LLC [Member]
Percentage of Ownership	100%

Note 3 - Investment Securitie_2

Note 3 - Investment Securities (Details Textual) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Debt Securities, Available-for-Sale, Accrued Interest, after Allowance for Credit Loss	$ 397,928	$ 397,928		$ 418,549
Debt Securities, Held-to-Maturity, Accrued Interest, after Allowance for Credit Loss	121,670	121,670		121,670
Proceeds from Sale of Debt Securities, Available-for-Sale	521,162	521,162	$ 0
Debt Securities, Available-for-Sale, Realized Gain (Loss)	(31,922)	(31,922)
Asset Pledged as Collateral [Member] | Government Deposits and Securities Sold Under Repurchase Agreement [Member]
Debt Securities	$ 69,086,427	$ 69,086,427		$ 50,371,861

Note 3 - Investment Securitie_3

Note 3 - Investment Securities - Investments in Debt Securities (Details) - USD ($)	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023		Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Amortized cost, available for sale	$ 180,843,084		$ 186,873,236
Unrealized gains, available for sale	623,162		1,026,783
Unrealized losses, available for sale	23,941,678		23,815,346
Securities available for sale, at fair value	157,524,568		164,084,673	[1]
AFS, allowance for credit losses	0		0
Amortized cost, available for sale	180,843,084		186,873,236
Amortized cost, available for sale	0		0
Amortized cost, available for sale	157,524,568		164,084,673	[1]
Held to maturity securities	20,262,524
Fair value, held to maturity	18,891,732
HTM, allowance for credit losses	126,631	$ 31,670	35,627		$ 50,445	$ 60,592	$ 0
HTM, net	20,135,893		20,163,622	[1]
US States and Political Subdivisions Debt Securities [Member]
Amortized cost, available for sale	500,000		500,000
Unrealized gains, available for sale	0		0
Unrealized losses, available for sale	16,982		15,192
Securities available for sale, at fair value	483,018		484,808
AFS, allowance for credit losses	0		0
Amortized cost, available for sale	500,000		500,000
Amortized cost, available for sale	0		0
Amortized cost, available for sale	483,018		484,808
Held to maturity securities	20,262,524		20,199,249
Unrealized gains, held to maturity	592		39,537
Unrealized losses, held to maturity	1,371,384		1,175,565
Fair value, held to maturity	18,891,732		19,063,221
HTM, allowance for credit losses	126,631		35,627
HTM, net	20,135,893		20,163,622
SBA Pools [Member]
Amortized cost, available for sale	720,085		776,686
Unrealized gains, available for sale	1,897		1,160
Unrealized losses, available for sale	6,857		11,136
Securities available for sale, at fair value	715,125		766,710
AFS, allowance for credit losses	0		0
Amortized cost, available for sale	720,085		776,686
Amortized cost, available for sale	0		0
Amortized cost, available for sale	715,125		766,710
Corporate Debt Securities [Member]
Amortized cost, available for sale	8,814,018		9,853,988
Unrealized gains, available for sale	0		0
Unrealized losses, available for sale	1,153,555		1,283,559
Securities available for sale, at fair value	7,660,463		8,570,429
AFS, allowance for credit losses	0		0
Amortized cost, available for sale	8,814,018		9,853,988
Amortized cost, available for sale	0		0
Amortized cost, available for sale	7,660,463		8,570,429
Collateralized Mortgage-Backed Securities [Member]
Amortized cost, available for sale	170,808,981		175,742,562
Unrealized gains, available for sale	621,265		1,025,623
Unrealized losses, available for sale	22,764,284		22,505,459
Securities available for sale, at fair value	148,665,962		154,262,726
AFS, allowance for credit losses	0		0
Amortized cost, available for sale	170,808,981		175,742,562
Amortized cost, available for sale	0		0
Amortized cost, available for sale	$ 148,665,962		$ 154,262,726
[1]Derived from audited consolidated financial statements

Note 3 - Investment Securitie_4

Note 3 - Investment Securities - Rating for Held to Maturity Securities (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Held to maturity securities	$ 20,262,524
US States and Political Subdivisions Debt Securities [Member]
Held to maturity securities	20,262,524	$ 20,199,249
Standard & Poor's, AAA Rating [Member] | US States and Political Subdivisions Debt Securities [Member]
Held to maturity securities	2,794,320	2,785,955
Standard & Poor's, AA Rating [Member] | US States and Political Subdivisions Debt Securities [Member]
Held to maturity securities	10,477,327	10,434,388
Standard & Poor's, A Rating [Member] | US States and Political Subdivisions Debt Securities [Member]
Held to maturity securities	3,816,717	3,808,365
Standard & Poor's, BAA Rating [Member] | US States and Political Subdivisions Debt Securities [Member]
Held to maturity securities	253,557	250,661
Not Rated [Member] | US States and Political Subdivisions Debt Securities [Member]
Held to maturity securities	$ 2,920,603	$ 2,919,880

Note 3 - Investment Securitie_5

Note 3 - Investment Securities - Allowance for Credit Loss on Held to Maturity Securities (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Beginning balance	$ 31,670	$ 60,592	$ 35,627	$ 0
Credit loss expense	94,961	(10,147)	91,004	(1,545)
Ending balance	126,631	50,445	126,631	50,445
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Beginning balance	$ 0	$ 0	$ 0	$ 51,990

Note 3 - Investment Securitie_6

Note 3 - Investment Securities - Contractual Maturities (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Available for Sale Amortized cost, Within one year	$ 1,754,504
Available for Sale Fair value, Within one year	1,729,691
Held to Maturity Amortized cost, Within one year	230,000
Held to Maturity Fair value, Within one year	229,593
Available for Sale Amortized cost, Over one to five years	500,000
Available for Sale Fair value, Over one to five years	483,018
Held to Maturity Amortized cost, Over one to five years	671,211
Held to Maturity Fair value, Over one to five years	656,312
Available for Sale Amortized cost, Fair value, Over one to five years	7,059,514
Available for Sale Fair value, Over five to ten years	5,930,774
Held to Maturity Amortized cost, Over five to ten years	6,470,309
Held to Maturity Fair value, Over five to ten years	6,107,565
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	12,891,004
Held to Maturity Fair value, Over ten years	11,898,262
Available for Sale Amortized cost, Fair value, total	9,314,018
Available for Sale Fair value, total	8,143,483
Held to Maturity Amortized cost, total	20,262,524
Held to Maturity Fair value, total	18,891,732
SBA pools, due in monthly installments	171,529,066
SBA pools, due in monthly installments	149,381,085
SBA pools, due in monthly installments	0
SBA pools, due in monthly installments	0
Available for Sale, Amortized cost	180,843,084	$ 186,873,236
Available for Sale Fair value Total	157,524,568	$ 164,084,673	[1]
Held to maturity amortized cost total	20,262,524
Held to Maturity Fair value total	$ 18,891,732
[1]Derived from audited consolidated financial statements

Note 3 - Investment Securitie_7

Note 3 - Investment Securities - Gross Unrealized Losses on Continuous Basis for Investment Securities (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Less than 12 months Fair Value	$ 26,179,412	$ 24,428,114
Less than 12 months Unrealized losses	584,502	440,507
12 months or more Fair value	106,267,652	113,785,103
12 months or more Unrealized losses	23,357,176	23,374,839
Total Fair value	132,447,064	138,213,217
Total Unrealized losses	23,941,678	23,815,346
US States and Political Subdivisions Debt Securities [Member]
Less than 12 months Fair Value	0	246,608
Less than 12 months Unrealized losses	0	3,392
12 months or more Fair value	483,018	238,200
12 months or more Unrealized losses	16,982	11,800
Total Fair value	483,018	484,808
Total Unrealized losses	16,982	15,192
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	405,234	659,869
12 months or more Unrealized losses	6,857	11,136
Total Fair value	405,234	659,869
Total Unrealized losses	6,857	11,136
Corporate Debt Securities [Member]
Less than 12 months Fair Value	0	341,264
Less than 12 months Unrealized losses	0	58,736
12 months or more Fair value	7,660,463	8,229,165
12 months or more Unrealized losses	1,153,555	1,224,823
Total Fair value	7,660,463	8,570,429
Total Unrealized losses	1,153,555	1,283,559
Collateralized Mortgage-Backed Securities [Member]
Less than 12 months Fair Value	26,179,412	23,840,242
Less than 12 months Unrealized losses	584,502	378,379
12 months or more Fair value	97,718,937	104,657,869
12 months or more Unrealized losses	22,179,782	22,127,080
Total Fair value	123,898,349	128,498,111
Total Unrealized losses	$ 22,764,284	$ 22,505,459

Note 4 - Loans and Allowance _3

Note 4 - Loans and Allowance for Credit Losses (Details Textual)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Financing Receivable, Nonaccrual, Interest Income			$ 0		$ 0
Financing Receivable, Nonaccrual	$ 403,853		403,853		655,410
Financing Receivable, Allowance for Credit Loss	4,082,098	$ 4,646,836	4,082,098	$ 4,646,836	4,285,247	$ 4,150,198
Financing Receivable, Allowance for Credit Loss, Writeoff	154,616	$ 0	155,779	$ 0	0
Financing Receivable, Modified, Accumulated	2,038,047		2,038,047
Financing Receivable, Modifications, Number of Contracts		0		0
Financing Receivable, Modified, Subsequent Default			0
Financing Receivable, Accrued Interest, after Allowance for Credit Loss	1,590,226		1,590,226		1,539,332
Loans Acquired, Outstanding Balance	68,069,276		68,069,276		74,146,002
Loans Acquired, Carrying Amount, Net	68,047,017		68,047,017		74,115,751
Nonaccrual Loans [Member]
Financing Receivable, Allowance for Credit Loss	$ 332,551		332,551		450,000
Financing Receivable, Allowance for Credit Loss, Writeoff			152,449
Nonperforming Financial Instruments [Member]
Financing Receivable, Nonaccrual, Interest Income			$ 25,556		$ 45,856
Commercial Real Estate Portfolio Segment [Member]
Financing Receivable, Number of Loans, Nonaccrual Status	1		1		1
Financing Receivable, Nonaccrual	$ 403,853		$ 403,853		$ 502,961
Financing Receivable, Allowance for Credit Loss	2,551,955	$ 2,673,102	2,551,955	$ 2,673,102	2,449,988	2,818,582
Financing Receivable, Allowance for Credit Loss, Writeoff			0	0	$ 0
Commercial Portfolio Segment [Member]
Financing Receivable, Number of Loans, Nonaccrual Status					1
Financing Receivable, Nonaccrual	0		0		$ 152,449
Financing Receivable, Allowance for Credit Loss	$ 437,773	$ 477,651	437,773	477,651	493,502	$ 337,303
Financing Receivable, Allowance for Credit Loss, Writeoff			$ 152,449	$ 0	$ 0

Note 4 - Loans and Allowance _4

Note 4 - Loans and Allowance for Credit Losses - Major Categories of Loans (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023		Jun. 30, 2023	Dec. 31, 2022
Loans	$ 550,732,783	$ 528,166,500
Financing Receivable, Allowance for Credit Loss	4,082,098	4,285,247		$ 4,646,836	$ 4,150,198
Deferred origination fees net of costs	614,224	573,209
Financing Receivable, after Allowance for Credit Loss	546,036,461	523,308,044	[1]
Commercial Real Estate Portfolio Segment [Member]
Loans	375,004,980	361,942,511
Financing Receivable, Allowance for Credit Loss	2,551,955	2,449,988		2,673,102	2,818,582
Construction and Land Development [Member]
Loans	19,712,262	20,446,150
Financing Receivable, Allowance for Credit Loss	204,953	253,173		303,606	164,596
Residential Portfolio Segment [Member]
Loans	110,929,552	112,789,631
Financing Receivable, Allowance for Credit Loss	867,631	1,012,938		1,098,088	793,919
Commercial Portfolio Segment [Member]
Loans	44,917,520	32,823,072
Financing Receivable, Allowance for Credit Loss	437,773	493,502		477,651	337,303
Consumer Portfolio Segment [Member]
Loans	168,469	165,136
Financing Receivable, Allowance for Credit Loss	$ 2,959	$ 2,080		$ 3,955	$ 4,706
[1]Derived from audited consolidated financial statements

Note 4 - Loans and Allowance _5

Note 4 - Loans and Allowance for Credit Losses - Non-accrual Loans (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Nonaccrual, No Allowance	$ 0	$ 0
Nonaccrual loans	403,853	655,410
Commercial Real Estate Portfolio Segment [Member]
Nonaccrual, No Allowance	0	0
Nonaccrual loans	403,853	502,961
Construction and Land Development [Member]
Nonaccrual, No Allowance	0	0
Nonaccrual loans	0	0
Residential Portfolio Segment [Member]
Nonaccrual, No Allowance	0	0
Nonaccrual loans	0	0
Commercial Portfolio Segment [Member]
Nonaccrual, No Allowance	0	0
Nonaccrual loans	0	152,449
Consumer Portfolio Segment [Member]
Nonaccrual, No Allowance	0	0
Nonaccrual loans	$ 0	$ 0

Note 4 - Loans and Allowance _6

Note 4 - Loans and Allowance for Credit Losses - Past Due Loans (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Loans	$ 550,732,783	$ 528,166,500
Loans, 90 days past due and still accruing	0	0
Financial Asset, 30 to 59 Days Past Due [Member]
Loans	1,999,801	162,594
Financial Asset, 60 to 89 Days Past Due [Member]
Loans	0	0
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans	403,853	655,410
Financial Asset, Past Due [Member]
Loans	2,403,654	818,004
Financial Asset, Not Past Due [Member]
Loans	548,329,129	527,348,496
Commercial Real Estate Portfolio Segment [Member]
Loans	375,004,980	361,942,511
Loans, 90 days past due and still accruing	0	0
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Loans	1,999,801	0
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Loans	0	0
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans	403,853	502,961
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Loans	2,403,654	502,961
Commercial Real Estate Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Loans	372,601,326	361,439,550
Construction and Land Development [Member]
Loans	19,712,262	20,446,150
Loans, 90 days past due and still accruing	0	0
Construction and Land Development [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Loans	0	0
Construction and Land Development [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Loans	0	0
Construction and Land Development [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans	0	0
Construction and Land Development [Member] | Financial Asset, Past Due [Member]
Loans	0	0
Construction and Land Development [Member] | Financial Asset, Not Past Due [Member]
Loans	19,712,262	20,446,150
Residential Portfolio Segment [Member]
Loans	110,929,552	112,789,631
Loans, 90 days past due and still accruing	0	0
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Loans	0	161,431
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	0	161,431
Residential Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Loans	110,929,552	112,628,200
Commercial Portfolio Segment [Member]
Loans	44,917,520	32,823,072
Loans, 90 days past due and still accruing	0	0
Commercial Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Loans	0	0
Commercial Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Loans	0	0
Commercial Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Loans	0	152,449
Commercial Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Loans	0	152,449
Commercial Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Loans	44,917,520	32,670,623
Consumer Portfolio Segment [Member]
Loans	168,469	165,136
Loans, 90 days past due and still accruing	0	0
Consumer Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Loans	0	1,163
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	1,163
Consumer Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Loans	$ 168,469	$ 163,973

Note 4 - Loans and Allowance _7

Note 4 - Loans and Allowance for Credit Losses - Collateral Dependent Loans (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Loans	$ 550,732,783	$ 528,166,500
Commercial Real Estate Portfolio Segment [Member]
Loans	375,004,980	361,942,511
Construction and Land Development [Member]
Loans	19,712,262	20,446,150
Residential Portfolio Segment [Member]
Loans	110,929,552	112,789,631
Commercial Portfolio Segment [Member]
Loans	44,917,520	32,823,072
Consumer Portfolio Segment [Member]
Loans	168,469	165,136
Collateral Pledged [Member]
Loans	2,714,641	2,943,174
Collateral Pledged [Member] | Commercial Real Estate Portfolio Segment [Member]
Loans	2,441,900	2,515,103
Collateral Pledged [Member] | Construction and Land Development [Member]
Loans	0	0
Collateral Pledged [Member] | Residential Portfolio Segment [Member]
Loans	272,741	275,622
Collateral Pledged [Member] | Commercial Portfolio Segment [Member]
Loans	0	152,449
Collateral Pledged [Member] | Consumer Portfolio Segment [Member]
Loans	$ 0	$ 0

Note 4 - Loans and Allowance _8

Note 4 - Loans and Allowance for Credit Losses - Loan Modifications (Details)	6 Months Ended
	Jun. 30, 2024 USD ($)
Financing Receivable, Modified	$ 2,038,047
Total Financing Receivables, Percentage	0.37%
Extended Maturity [Member]
Financing Receivable, Modified	$ 2,038,047
Commercial Real Estate Portfolio Segment [Member]
Total Financing Receivables, Percentage	0.54%
Commercial Real Estate Portfolio Segment [Member] | Extended Maturity [Member]
Financing Receivable, Modified	$ 2,038,047

Note 4 - Loans and Allowance _9

Note 4 - Loans and Allowance for Credit Losses - Loans by Credit Grade (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Loans, current year	$ 37,663,939		$ 37,663,939		$ 48,084,876
Loans, one year before	46,382,770		46,382,770		107,173,742
Loans, two years before	104,392,303		104,392,303		72,737,773
Loans, three years before	69,455,741		69,455,741		29,206,581
Loans, four years before	29,243,176		29,243,176		42,674,240
Loans, prior	233,112,967		233,112,967		204,781,877
Loans, revolving	30,481,887		30,481,887		23,507,411
Loans, converted to term	0		0		0
Loans	550,732,783		550,732,783		528,166,500
Charge-offs, current year			0
Charge-offs, year two			3,330
Charge-offs, year three			0
Charge-offs, year four			0
Charge-offs, year five			0
Charge-offs, prior			152,449
Charge-offs, revolving			0
Charge-offs, converted to term			0
Financing Receivable, Allowance for Credit Loss, Writeoff	154,616	$ 0	155,779	$ 0	0
Pass [Member]
Loans, current year	37,663,939		37,663,939		48,078,770
Loans, one year before	46,379,311		46,379,311		107,173,742
Loans, two years before	104,392,303		104,392,303		72,736,249
Loans, three years before	69,454,617		69,454,617		29,206,581
Loans, four years before	29,243,176		29,243,176		42,521,791
Loans, prior	222,208,406		222,208,406		193,674,174
Loans, revolving	30,454,893		30,454,893		23,491,273
Loans, converted to term	0		0		0
Loans	539,796,645		539,796,645		516,882,580
Special Mention [Member]
Loans, current year	0		0		0
Loans, one year before	0		0		0
Loans, two years before	0		0		0
Loans, three years before	0		0		0
Loans, four years before	0		0		0
Loans, prior	0		0		0
Loans, revolving	0		0		0
Loans, converted to term	0		0		0
Loans	0		0		0
Substandard [Member]
Loans, current year	0		0		6,106
Loans, one year before	3,459		3,459		0
Loans, two years before	0		0		1,524
Loans, three years before	1,124		1,124		0
Loans, four years before	0		0		152,449
Loans, prior	10,904,561		10,904,561		11,107,703
Loans, revolving	0		0		0
Loans, converted to term	0		0		0
Loans	10,909,144		10,909,144		11,267,782
Doubtful [Member]
Loans, current year	0		0		0
Loans, one year before	0		0		0
Loans, two years before	0		0		0
Loans, three years before	0		0		0
Loans, four years before	0		0		0
Loans, prior	0		0		0
Loans, revolving	26,994		26,994		16,138
Loans, converted to term	0		0		0
Loans	26,994		26,994		16,138
Commercial Real Estate Portfolio Segment [Member]
Loans, current year	22,686,513		22,686,513		27,500,909
Loans, one year before	27,392,484		27,392,484		73,944,442
Loans, two years before	73,202,038		73,202,038		54,973,818
Loans, three years before	55,321,128		55,321,128		20,540,492
Loans, four years before	20,083,107		20,083,107		25,102,276
Loans, prior	173,193,687		173,193,687		157,186,306
Loans, revolving	3,126,023		3,126,023		2,694,268
Loans, converted to term	0		0		0
Loans	375,004,980		375,004,980		361,942,511
Financing Receivable, Allowance for Credit Loss, Writeoff			0	0	0
Commercial Real Estate Portfolio Segment [Member] | Pass [Member]
Loans, current year	22,686,513		22,686,513		27,500,909
Loans, one year before	27,392,484		27,392,484		73,944,442
Loans, two years before	73,202,038		73,202,038		54,973,818
Loans, three years before	55,321,128		55,321,128		20,540,492
Loans, four years before	20,083,107		20,083,107		25,102,276
Loans, prior	163,931,870		163,931,870		147,755,491
Loans, revolving	3,126,023		3,126,023		2,694,268
Loans, converted to term	0		0		0
Loans	365,743,163		365,743,163		352,511,696
Commercial Real Estate Portfolio Segment [Member] | Special Mention [Member]
Loans, current year	0		0		0
Loans, one year before	0		0		0
Loans, two years before	0		0		0
Loans, three years before	0		0		0
Loans, four years before	0		0		0
Loans, prior	0		0		0
Loans, revolving	0		0		0
Loans, converted to term	0		0		0
Loans	0		0		0
Commercial Real Estate Portfolio Segment [Member] | Substandard [Member]
Loans, current year	0		0		0
Loans, one year before	0		0		0
Loans, two years before	0		0		0
Loans, three years before	0		0		0
Loans, four years before	0		0		0
Loans, prior	9,261,817		9,261,817		9,430,815
Loans, revolving	0		0		0
Loans, converted to term	0		0		0
Loans	9,261,817		9,261,817		9,430,815
Commercial Real Estate Portfolio Segment [Member] | Doubtful [Member]
Loans, current year	0		0		0
Loans, one year before	0		0		0
Loans, two years before	0		0		0
Loans, three years before	0		0		0
Loans, four years before	0		0		0
Loans, prior	0		0		0
Loans, revolving	0		0		0
Loans, converted to term	0		0		0
Loans	0		0		0
Construction and Land Development [Member]
Loans, current year	1,328,425		1,328,425		3,359,456
Loans, one year before	3,105,220		3,105,220		6,519,085
Loans, two years before	6,547,833		6,547,833		4,623,119
Loans, three years before	1,476,429		1,476,429		642,571
Loans, four years before	975,009		975,009		309,038
Loans, prior	6,279,346		6,279,346		4,992,881
Loans, revolving	0		0		0
Loans, converted to term	0		0		0
Loans	19,712,262		19,712,262		20,446,150
Financing Receivable, Allowance for Credit Loss, Writeoff			0	0	0
Construction and Land Development [Member] | Pass [Member]
Loans, current year	1,328,425		1,328,425		3,359,456
Loans, one year before	3,105,220		3,105,220		6,519,085
Loans, two years before	6,547,833		6,547,833		4,623,119
Loans, three years before	1,476,429		1,476,429		642,571
Loans, four years before	975,009		975,009		309,038
Loans, prior	6,279,346		6,279,346		4,992,881
Loans, revolving	0		0		0
Loans, converted to term	0		0		0
Loans	19,712,262		19,712,262		20,446,150
Construction and Land Development [Member] | Special Mention [Member]
Loans, current year	0		0		0
Loans, one year before	0		0		0
Loans, two years before	0		0		0
Loans, three years before	0		0		0
Loans, four years before	0		0		0
Loans, prior	0		0		0
Loans, revolving	0		0		0
Loans, converted to term	0		0		0
Loans	0		0		0
Construction and Land Development [Member] | Substandard [Member]
Loans, current year	0		0		0
Loans, one year before	0		0		0
Loans, two years before	0		0		0
Loans, three years before	0		0		0
Loans, four years before	0		0		0
Loans, prior	0		0		0
Loans, revolving	0		0		0
Loans, converted to term	0		0		0
Loans	0		0		0
Construction and Land Development [Member] | Doubtful [Member]
Loans, current year	0		0		0
Loans, one year before	0		0		0
Loans, two years before	0		0		0
Loans, three years before	0		0		0
Loans, four years before	0		0		0
Loans, prior	0		0		0
Loans, revolving	0		0		0
Loans, converted to term	0		0		0
Loans	0		0		0
Residential Portfolio Segment [Member]
Loans, current year	6,454,708		6,454,708		10,109,347
Loans, one year before	10,227,748		10,227,748		18,603,074
Loans, two years before	18,247,913		18,247,913		9,870,791
Loans, three years before	9,810,190		9,810,190		6,793,326
Loans, four years before	7,338,084		7,338,084		16,218,714
Loans, prior	52,199,583		52,199,583		41,692,646
Loans, revolving	6,651,326		6,651,326		9,501,733
Loans, converted to term	0		0		0
Loans	110,929,552		110,929,552		112,789,631
Financing Receivable, Allowance for Credit Loss, Writeoff			0	0	0
Residential Portfolio Segment [Member] | Pass [Member]
Loans, current year	6,454,708		6,454,708		10,109,347
Loans, one year before	10,227,748		10,227,748		18,603,074
Loans, two years before	18,247,913		18,247,913		9,870,791
Loans, three years before	9,810,190		9,810,190		6,793,326
Loans, four years before	7,338,084		7,338,084		16,218,714
Loans, prior	50,556,839		50,556,839		40,015,758
Loans, revolving	6,651,326		6,651,326		9,501,733
Loans, converted to term	0		0		0
Loans	109,286,808		109,286,808		111,112,743
Residential Portfolio Segment [Member] | Special Mention [Member]
Loans, current year	0		0		0
Loans, one year before	0		0		0
Loans, two years before	0		0		0
Loans, three years before	0		0		0
Loans, four years before	0		0		0
Loans, prior	0		0		0
Loans, revolving	0		0		0
Loans, converted to term	0		0		0
Loans	0		0		0
Residential Portfolio Segment [Member] | Substandard [Member]
Loans, current year	0		0		0
Loans, one year before	0		0		0
Loans, two years before	0		0		0
Loans, three years before	0		0		0
Loans, four years before	0		0		0
Loans, prior	1,642,744		1,642,744		1,676,888
Loans, revolving	0		0		0
Loans, converted to term	0		0		0
Loans	1,642,744		1,642,744		1,676,888
Residential Portfolio Segment [Member] | Doubtful [Member]
Loans, current year	0		0		0
Loans, one year before	0		0		0
Loans, two years before	0		0		0
Loans, three years before	0		0		0
Loans, four years before	0		0		0
Loans, prior	0		0		0
Loans, revolving	0		0		0
Loans, converted to term	0		0		0
Loans	0		0		0
Commercial Portfolio Segment [Member]
Loans, current year	7,147,076		7,147,076		7,016,763
Loans, one year before	5,587,940		5,587,940		8,074,370
Loans, two years before	6,378,892		6,378,892		3,264,342
Loans, three years before	2,844,724		2,844,724		1,225,297
Loans, four years before	843,019		843,019		1,036,986
Loans, prior	1,438,325		1,438,325		910,042
Loans, revolving	20,677,544		20,677,544		11,295,272
Loans, converted to term	0		0		0
Loans	44,917,520		44,917,520		32,823,072
Financing Receivable, Allowance for Credit Loss, Writeoff			152,449	0	0
Commercial Portfolio Segment [Member] | Pass [Member]
Loans, current year	7,147,076		7,147,076		7,016,763
Loans, one year before	5,587,940		5,587,940		8,074,370
Loans, two years before	6,378,892		6,378,892		3,264,342
Loans, three years before	2,844,724		2,844,724		1,225,297
Loans, four years before	843,019		843,019		884,537
Loans, prior	1,438,325		1,438,325		910,042
Loans, revolving	20,677,544		20,677,544		11,295,272
Loans, converted to term	0		0		0
Loans	44,917,520		44,917,520		32,670,623
Commercial Portfolio Segment [Member] | Special Mention [Member]
Loans, current year	0		0		0
Loans, one year before	0		0		0
Loans, two years before	0		0		0
Loans, three years before	0		0		0
Loans, four years before	0		0		0
Loans, prior	0		0		0
Loans, revolving	0		0		0
Loans, converted to term	0		0		0
Loans	0		0		0
Commercial Portfolio Segment [Member] | Substandard [Member]
Loans, current year	0		0		0
Loans, one year before	0		0		0
Loans, two years before	0		0		0
Loans, three years before	0		0		0
Loans, four years before	0		0		152,449
Loans, prior	0		0		0
Loans, revolving	0		0		0
Loans, converted to term	0		0		0
Loans	0		0		152,449
Commercial Portfolio Segment [Member] | Doubtful [Member]
Loans, current year	0		0		0
Loans, one year before	0		0		0
Loans, two years before	0		0		0
Loans, three years before	0		0		0
Loans, four years before	0		0		0
Loans, prior	0		0		0
Loans, revolving	0		0		0
Loans, converted to term	0		0		0
Loans	0		0		0
Consumer Portfolio Segment [Member]
Loans, current year	47,217		47,217		98,401
Loans, one year before	69,378		69,378		32,771
Loans, two years before	15,627		15,627		5,703
Loans, three years before	3,270		3,270		4,895
Loans, four years before	3,957		3,957		7,226
Loans, prior	2,026		2,026		2
Loans, revolving	26,994		26,994		16,138
Loans, converted to term	0		0		0
Loans	168,469		168,469		165,136
Financing Receivable, Allowance for Credit Loss, Writeoff			3,330	$ 0	0
Consumer Portfolio Segment [Member] | Pass [Member]
Loans, current year	47,217		47,217		92,295
Loans, one year before	65,919		65,919		32,771
Loans, two years before	15,627		15,627		4,179
Loans, three years before	2,146		2,146		4,895
Loans, four years before	3,957		3,957		7,226
Loans, prior	2,026		2,026		2
Loans, revolving	0		0		0
Loans, converted to term	0		0		0
Loans	136,892		136,892		141,368
Consumer Portfolio Segment [Member] | Special Mention [Member]
Loans, current year	0		0		0
Loans, one year before	0		0		0
Loans, two years before	0		0		0
Loans, three years before	0		0		0
Loans, four years before	0		0		0
Loans, prior	0		0		0
Loans, revolving	0		0		0
Loans, converted to term	0		0		0
Loans	0		0		0
Consumer Portfolio Segment [Member] | Substandard [Member]
Loans, current year	0		0		6,106
Loans, one year before	3,459		3,459		0
Loans, two years before	0		0		1,524
Loans, three years before	1,124		1,124		0
Loans, four years before	0		0		0
Loans, prior	0		0		0
Loans, revolving	0		0		0
Loans, converted to term	0		0		0
Loans	4,583		4,583		7,630
Consumer Portfolio Segment [Member] | Doubtful [Member]
Loans, current year	0		0		0
Loans, one year before	0		0		0
Loans, two years before	0		0		0
Loans, three years before	0		0		0
Loans, four years before	0		0		0
Loans, prior	0		0		0
Loans, revolving	26,994		26,994		16,138
Loans, converted to term	0		0		0
Loans	$ 26,994		$ 26,994		$ 16,138

Note 4 - Loans and Allowance_10

Note 4 - Loans and Allowance for Credit Losses - Allowance for Loan Losses (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Beginning balance	$ 203,847	$ 76,471	$ 227,643	$ 0	$ 0
Allowance for loan losses			4,285,247	4,150,198	4,150,198
Provision for loan losses			(59,370)	(457,682)	(699,557)
Financing Receivable, Allowance for Credit Loss	4,082,098	4,646,836	4,082,098	4,646,836	4,285,247
Charge-offs	(154,616)	0	(155,779)	0	0
Recoveries	6,000	11,875	12,000	386,973	398,973
Allowance for loan losses	4,082,098	4,646,836	4,082,098	4,646,836	4,285,247
Allowance for loan losses ending balance evaluated for impairment individually	392,551	476,657	392,551	476,657	450,000
Allowance for loan losses ending balance evaluated for impairment collectively	3,689,547	4,170,179	3,689,547	4,170,179	3,835,247
Outstanding loan balances evaluated for impairment individually	2,714,641	933,511	2,714,641	933,511	2,943,174
Credit loss recovery	(7,838)	(27,171)	(31,634)	(35,773)
Outstanding loan balances evaluated for impairment collectively	548,018,142	535,329,117	548,018,142	535,329,117	525,223,326
Ending balance	196,009	49,300	196,009	49,300	227,643
Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member]
Beginning balance	0	0	0	85,073	85,073
Allowance for loan losses			435,633	567,347	567,347
Financing Receivable, Allowance for Credit Loss					435,633
Allowance for loan losses					435,633
Ending balance					0
Commercial Real Estate Portfolio Segment [Member]
Allowance for loan losses			2,449,988	2,818,582	2,818,582
Provision for loan losses			101,967	205,358	79,889
Financing Receivable, Allowance for Credit Loss	2,551,955	2,673,102	2,551,955	2,673,102	2,449,988
Charge-offs			0	0	0
Recoveries			0	0	0
Allowance for loan losses	2,551,955	2,673,102	2,551,955	2,673,102	2,449,988
Allowance for loan losses ending balance evaluated for impairment individually	392,551	250,000	392,551	250,000	297,551
Allowance for loan losses ending balance evaluated for impairment collectively	2,159,404	2,423,102	2,159,404	2,423,102	2,152,437
Outstanding loan balances evaluated for impairment individually	2,441,900	502,961	2,441,900	502,961	2,515,103
Outstanding loan balances evaluated for impairment collectively	372,563,080	366,708,230	372,563,080	366,708,230	359,427,408
Commercial Real Estate Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member]
Allowance for loan losses			(448,483)	(350,838)	(350,838)
Financing Receivable, Allowance for Credit Loss					(448,483)
Allowance for loan losses					(448,483)
Construction and Land Development [Member]
Allowance for loan losses			253,173	164,596	164,596
Provision for loan losses			(48,220)	(153,094)	(200,665)
Financing Receivable, Allowance for Credit Loss	204,953	303,606	204,953	303,606	253,173
Charge-offs			0	0	0
Recoveries			0	11,925	11,925
Allowance for loan losses	204,953	303,606	204,953	303,606	253,173
Allowance for loan losses ending balance evaluated for impairment individually	0	0	0	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	204,953	303,606	204,953	303,606	253,173
Outstanding loan balances evaluated for impairment individually	0	0	0	0	0
Outstanding loan balances evaluated for impairment collectively	19,712,262	24,940,684	19,712,262	24,940,684	20,446,150
Construction and Land Development [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member]
Allowance for loan losses			277,317	280,179	280,179
Financing Receivable, Allowance for Credit Loss					277,317
Allowance for loan losses					277,317
Residential Portfolio Segment [Member]
Allowance for loan losses			1,012,938	793,919	793,919
Provision for loan losses			(157,307)	(609,314)	(676,608)
Financing Receivable, Allowance for Credit Loss	867,631	1,098,088	867,631	1,098,088	1,012,938
Charge-offs			0	0	0
Recoveries			12,000	375,048	387,048
Allowance for loan losses	867,631	1,098,088	867,631	1,098,088	1,012,938
Allowance for loan losses ending balance evaluated for impairment individually	0	74,208	0	74,208	0
Allowance for loan losses ending balance evaluated for impairment collectively	867,631	1,023,880	867,631	1,023,880	1,012,938
Outstanding loan balances evaluated for impairment individually	272,741	278,101	272,741	278,101	275,622
Outstanding loan balances evaluated for impairment collectively	110,656,811	111,776,676	110,656,811	111,776,676	112,514,009
Residential Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member]
Allowance for loan losses			508,579	538,435	538,435
Financing Receivable, Allowance for Credit Loss					508,579
Allowance for loan losses					508,579
Commercial Portfolio Segment [Member]
Allowance for loan losses			493,502	337,303	337,303
Provision for loan losses			96,720	5,148	22,361
Financing Receivable, Allowance for Credit Loss	437,773	477,651	437,773	477,651	493,502
Charge-offs			(152,449)	0	0
Recoveries			0	0	0
Allowance for loan losses	437,773	477,651	437,773	477,651	493,502
Allowance for loan losses ending balance evaluated for impairment individually	0	152,449	0	152,449	152,449
Allowance for loan losses ending balance evaluated for impairment collectively	437,773	325,202	437,773	325,202	341,053
Outstanding loan balances evaluated for impairment individually	0	152,449	0	152,449	152,449
Outstanding loan balances evaluated for impairment collectively	44,917,520	31,721,432	44,917,520	31,721,432	32,670,623
Commercial Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member]
Allowance for loan losses			133,838	135,200	135,200
Financing Receivable, Allowance for Credit Loss					133,838
Allowance for loan losses					133,838
Consumer Portfolio Segment [Member]
Allowance for loan losses			2,080	4,706	4,706
Provision for loan losses			4,209	3,786	1,900
Financing Receivable, Allowance for Credit Loss	2,959	3,955	2,959	3,955	2,080
Charge-offs			(3,330)	0	0
Recoveries			0	0	0
Allowance for loan losses	2,959	3,955	2,959	3,955	2,080
Allowance for loan losses ending balance evaluated for impairment individually	0	0	0	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	2,959	3,955	2,959	3,955	2,080
Outstanding loan balances evaluated for impairment individually	0	0	0	0	0
Outstanding loan balances evaluated for impairment collectively	168,469	182,095	168,469	182,095	165,136
Consumer Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member]
Allowance for loan losses			(4,526)	(4,537)	(4,537)
Financing Receivable, Allowance for Credit Loss					(4,526)
Allowance for loan losses					(4,526)
Unallocated Financing Receivables [Member]
Allowance for loan losses			73,566	31,092	31,092
Provision for loan losses			(56,739)	90,434	73,566
Financing Receivable, Allowance for Credit Loss	16,827	90,434	16,827	90,434	73,566
Charge-offs			0	0	0
Recoveries			0	0	0
Allowance for loan losses	16,827	90,434	16,827	90,434	73,566
Allowance for loan losses ending balance evaluated for impairment individually	0	0	0	0	0
Allowance for loan losses ending balance evaluated for impairment collectively	16,827	90,434	16,827	90,434	73,566
Outstanding loan balances evaluated for impairment individually	0	0	0	0	0
Outstanding loan balances evaluated for impairment collectively	$ 0	$ 0	0	0	0
Unallocated Financing Receivables [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member]
Allowance for loan losses			$ (31,092)	$ (31,092)	(31,092)
Financing Receivable, Allowance for Credit Loss					(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) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Balance	$ 463,960	$ 818,740	$ 539,338	$ 930,973
Accretion	(67,116)	(102,402)	(142,494)	(214,635)
Balance	$ 396,844	$ 716,338	$ 396,844	$ 716,338

Note 4 - Loans and Allowance_12

Note 4 - Loans and Allowance for Credit Losses - Amortizable Yield Premium on Purchased Loans (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Beginning balance	$ 437,936	$ 772,817	$ 509,087	$ 878,756
Amortization	(63,351)	(96,657)	(134,502)	(202,596)
Ending balance	$ 374,585	$ 676,160	$ 374,585	$ 676,160

Note 5 - Loans and Allowance fo

Note 5 - Loans and Allowance for Credit Losses - Components of Allowance for Credit Losses (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Beginning balance	$ 4,553,354	$ 4,959,706	$ 4,548,517	$ 4,150,198	$ 4,150,198
Provision (recovery) of credit losses	0	(225,000)	0	(495,000)
Financing Receivable, Allowance for Credit Loss, Writeoff	154,616	0	155,779	0	0
Recoveries	6,000	11,875	12,000	386,973	398,973
Charge-offs	(154,616)	0	(155,779)	0	0
Ending balance	4,404,738	4,746,581	4,404,738	4,746,581	4,548,517
Cumulative Effect, Period of Adoption, Adjustment [Member]
Beginning balance		0		704,410	704,410
Held-to-Maturity Securities [Member]
Beginning balance	31,670	60,592	35,627	0	0
Provision (recovery) of credit losses	94,961	(10,147)	91,004	(1,545)
Financing Receivable, Allowance for Credit Loss, Writeoff	0	0	0	0
Recoveries	0	0	0	0
Charge-offs	0	0	0	0
Ending balance	126,631	50,445	126,631	50,445	35,627
Held-to-Maturity Securities [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Beginning balance		0		51,990	51,990
Loans [Member]
Beginning balance	4,317,837	4,822,643	4,285,247	4,150,198	4,150,198
Provision (recovery) of credit losses	(87,123)	(187,682)	(59,370)	(457,682)
Financing Receivable, Allowance for Credit Loss, Writeoff	154,616	0	155,779	0
Recoveries	6,000	11,875	12,000	386,973
Charge-offs	(154,616)	0	(155,779)	0
Ending balance	4,082,098	4,646,836	4,082,098	4,646,836	4,285,247
Loans [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Beginning balance		0		567,347	567,347
Unfunded Loan Commitment [Member]
Beginning balance		76,471		0	0
Provision (recovery) of credit losses		(27,171)		(35,773)
Financing Receivable, Allowance for Credit Loss, Writeoff		0		0
Recoveries		0		0
Charge-offs		0		0
Ending balance		49,300		49,300
Unfunded Loan Commitment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Beginning balance		$ 0		$ 85,073	85,073
Unfunded Loan Commitments [Member]
Beginning balance	203,847		227,643
Provision (recovery) of credit losses	(7,838)		(31,634)
Financing Receivable, Allowance for Credit Loss, Writeoff	0		0
Recoveries	0		0
Charge-offs	0		0
Ending balance	$ 196,009		$ 196,009		$ 227,643

Note 5 - Goodwill and Other I_3

Note 5 - Goodwill and Other Intangibles (Details Textual) - Core Deposits [Member]	Jun. 30, 2024 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 Two	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Three	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Four	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Five	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Six	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Seven	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Eight	8,328
Finite-Lived Intangible Asset, Expected Amortization, Year Nine	8,328
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) - USD ($)	6 Months Ended
	Jun. 30, 2024		Jun. 30, 2023
Balance	$ 6,978,208		$ 6,978,208
Balance	7,034,424	[1]	7,042,752
Amortization	(4,164)		4,164
Balance	6,978,208		6,978,208
Balance	7,030,260		7,038,588
Core Deposits [Member]
Balance, other intangible	56,216		64,544
Amortization, other intangible	(4,164)		4,164
Balance, other intangible	$ 52,052		$ 60,380
[1]Derived from audited consolidated financial statements

Note 6 - Capital Standards (Det

Note 6 - Capital Standards (Details Textual)	Jun. 30, 2024	Dec. 31, 2023
Banking Regulation, Common Equity Tier 1 Risk-Based Capital Ratio, Well Capitalized, Minimum	0.065	0.065
Banking Regulation, Tier 1 Risk-Based Capital Ratio, Well Capitalized, Minimum	0.08	0.08
Banking Regulation, Total Risk-Based Capital Ratio, Well Capitalized, Minimum	0.10	0.10
Banking Regulation, Tier 1 Leverage Capital Ratio, Well Capitalized, Minimum	0.05	0.05

Note 13 - Capital Standards - C

Note 13 - Capital Standards - Capital Requirements (Details)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Capital	$ 80,669	$ 79,988
Total capital (to risk-weighted assets)	$ 80,669	$ 79,988
Capital to Risk Weighted Assets	0.1288	0.1345
Capital Required for Capital Adequacy	$ 65,769	$ 62,437
Capital Required for Capital Adequacy to Risk Weighted Assets	0.105	0.105
Capital Required to be Well Capitalized	$ 62,637	$ 59,464
Capital Required to be Well Capitalized to Risk Weighted Assets	0.10	0.10
Tier One Risk Based Capital	$ 76,269	$ 75,440
Tier One Risk Based Capital to Risk Weighted Assets	0.1218	0.1269
Tier One Risk Based Capital Required for Capital Adequacy	$ 53,242	$ 50,544
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	$ 50,110	$ 47,571
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets	0.08	0.08
Common Equity Tier One Capital	$ 76,269	$ 75,440
Common Equity Tier One Capital Ratio	0.1218	0.1269
Common Equity Tier One Capital Required for Capital Adequacy	$ 43,846	$ 41,625
Common Equity Tier One Capital Required for Capital Adequacy Ratio	0.07	0.07
Common Equity Tier One Capital Required to be Well-Capitalized	$ 40,714	$ 38,651
Common Equity Tier One Capital Required to be Well Capitalized Ratio	0.065	0.065
Tier One Leverage Capital	$ 76,269	$ 75,440
Tier One Leverage Capital to Average Assets	0.0958	0.0942
Tier One Leverage Capital Required for Capital Adequacy	$ 31,857	$ 32,051
Tier One Leverage Capital Required for Capital Adequacy to Average Assets	0.04	0.04
Tier One Leverage Capital Required to be Well Capitalized	$ 39,821	$ 40,063
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 Instruments (Details Textual) $ in Millions	Jun. 30, 2024 USD ($)
Interest Rate Swap [Member] | Fair Value Hedging [Member]
Derivative, Notional Amount	$ 55.2

Note 7 - Derivative Financial_4

Note 7 - Derivative Financial Instruments - Schedule of Derivative Instruments (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Securities available for sale, at fair value
Derivative asset	$ 63,126,375	$ 69,920,575
Fair value hedge, cumulative adjustment	(123,286)	(1,609,248)
Derivative Assets	63,126,375	69,920,575
Designated as Hedging Instrument [Member]
Derivative asset	327,535	0
Derivative Assets	327,535	0
Derivative liability	450,756	1,563,527
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative asset	327,535	0
Derivative Assets	327,535	0
Derivative liability	$ 450,756	$ 1,563,527

Note 7 - Derivative Financial_5

Note 7 - Derivative Financial Instruments - Derivative Instruments, Gain (Loss) (Details) - Interest Rate Swap [Member] - Designated as Hedging Instrument [Member] - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Hedged items	$ 11,594	$ (2,108)	$ 65	$ 32,005
Net gain on fair value hedging relationships included in interest income from fedral funds sold and other interest earning assets	188,356	30,248	357,037	73,746
Fair Value Hedging [Member]
Interest rate contracts designated as hedging instruments	$ 176,762	$ 32,356	$ 356,972	$ 41,741

Note 8 - Fair Value (Details Te

Note 8 - Fair Value (Details Textual)	6 Months Ended
	Jun. 30, 2024
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 ($)	Jun. 30, 2024	Dec. 31, 2023
Amortized cost, available for sale	$ 157,524,568	$ 164,084,673	[1]
Derivative asset	63,126,375	69,920,575
Mutual fund	508,333	507,130	[1]
Fair Value, Recurring [Member]
Amortized cost, available for sale	157,524,568	164,084,673
Derivative asset	327,535
Mutual fund	508,333	507,130
Fair value hedge in other liabilities	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Amortized cost, available for sale	0	0
Derivative asset	0
Mutual fund	508,333	507,130
Fair value hedge in other liabilities	450,756	1,563,527
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Amortized cost, available for sale	157,524,568	164,084,673
Derivative asset	327,535
Mutual fund	0	0
Fair value hedge in other liabilities	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Amortized cost, available for sale	0	0
Derivative asset	0
Mutual fund	0	0
Fair value hedge in other liabilities	450,756	1,563,527
Fair Value, Nonrecurring [Member]
Other real estate owned, net	1,242,365	1,242,365
Collateral-dependent loans, net	2,059,349	0
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member]
Other real estate owned, net	0	0
Collateral-dependent loans, net	0	0
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member]
Other real estate owned, net	0	0
Collateral-dependent loans, net	0	205,410
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Other real estate owned, net	1,242,365	1,242,365
Collateral-dependent loans, net	2,059,349	205,410
US States and Political Subdivisions Debt Securities [Member]
Amortized cost, available for sale	483,018	484,808
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member]
Amortized cost, available for sale	483,018	484,808
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Amortized cost, available for sale	0	0
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Amortized cost, available for sale	483,018	484,808
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Amortized cost, available for sale	0	0
SBA Pools [Member]
Amortized cost, available for sale	715,125	766,710
SBA Pools [Member] | Fair Value, Recurring [Member]
Amortized cost, available for sale	715,125	766,710
SBA Pools [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Amortized cost, available for sale	0	0
SBA Pools [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Amortized cost, available for sale	715,125	766,710
SBA Pools [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Amortized cost, available for sale	0	0
Corporate Debt Securities [Member]
Amortized cost, available for sale	7,660,463	8,570,429
Corporate Debt Securities [Member] | Fair Value, Recurring [Member]
Amortized cost, available for sale	7,660,463	8,570,429
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Amortized cost, available for sale	0	0
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Amortized cost, available for sale	7,660,463	8,570,429
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Amortized cost, available for sale	0	0
Collateralized Mortgage-Backed Securities [Member]
Amortized cost, available for sale	148,665,962	154,262,726
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member]
Amortized cost, available for sale	148,665,962	154,262,726
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Amortized cost, available for sale	0	0
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Amortized cost, available for sale	148,665,962	154,262,726
Collateralized Mortgage-Backed Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Amortized cost, available for sale	$ 0	$ 0
[1]Derived from audited consolidated financial statements

Note 8 - Fair Value - Assets Me

Note 8 - Fair Value - Assets Measured on a Nonrecurring Basis (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023	Dec. 31, 2022
Other Real Estate Owned [Member]
Percent, expected sales cost to appraised rate	10%
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Collateral Dependent Loans [Member]
Fair value	$ 2,059,349	$ 205,410
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Collateral Dependent Loans [Member] | Minimum [Member]
Percent, expected sales cost to appraised rate			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%
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 - Estimated

Note 8 - Fair Value - Estimated Fair Value of Financial Instruments (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Securities available for sale, at fair value	$ 157,524,568	$ 164,084,673	[1]
Fair value, held to maturity	18,891,732
Reported Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	24,510,320	44,690,337
Noninterest-bearing deposits	108,907,898	115,284,706
Securities sold under repurchase agreements	2,758,183	6,760,493
Reported Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Certificates of deposit in other banks	100,000	100,000
Accrued interest receivable	2,191,090	2,180,734
Securities available for sale, at fair value	157,524,568	164,084,673
Fair value, held to maturity	17,265,693	17,293,422
Equity security	508,333	507,130
Restricted stock, at cost	1,395,900	863,500
Bank owned life insurance	15,115,536	14,930,754
Fair value hedge	327,535	0
Interest-bearing deposits	542,301,597	565,678,145
Federal Home Loan Bank advances	15,000,000	5,000,000
Federal Reserve Bank advances	54,000,000	33,000,000
Long-term debt, net	12,270,747	13,212,378
Accrued interest payable	2,217,250	1,482,773
Fair value hedge	450,756	1,563,527
Reported Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value, held to maturity	2,870,200	2,870,200
Loans, net	546,036,461	523,308,044
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Cash and cash equivalents	24,510,320	44,690,337
Noninterest-bearing deposits	108,907,898	115,284,706
Securities sold under repurchase agreements	2,758,183	6,760,493
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	2,191,090	2,180,734
Securities available for sale, at fair value	157,524,568	164,084,673
Fair value, held to maturity	15,894,901	16,193,020
Equity security	508,333	507,130
Restricted stock, at cost	1,395,900	863,500
Bank owned life insurance	15,115,536	14,930,754
Fair value hedge	327,535	0
Interest-bearing deposits	542,792,597	566,925,060
Federal Home Loan Bank advances	14,848,000	4,754,000
Federal Reserve Bank advances	53,651,745	32,996,852
Long-term debt, net	11,627,000	12,428,000
Accrued interest payable	2,217,250	1,482,773
Fair value hedge	450,756	1,563,527
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Fair value, held to maturity	2,870,200	2,870,200
Loans, net	$ 532,558,685	$ 507,138,253
[1]Derived from audited consolidated financial statements

Note 9 - Earnings Per Share (De

Note 9 - Earnings Per Share (Details Textual) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Incremental Common Shares Attributable to Dilutive Effect of Share-Based Payment Arrangements	294	0	250	0

Note 9 - Earnings Per Share - B

Note 9 - Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net income	$ 1,078,509	$ 1,670,117	$ 2,298,496	$ 3,570,968
Weighted average shares outstanding (in shares)	3,120,967	3,073,319	3,118,966	3,072,272
Effect of dilutive restricted stock units (in shares)	294	0	250	0
Weighted average shares outstanding - diluted (in shares)	3,121,261	3,073,319	3,119,216	3,072,272
Earnings per share - basic (in dollars per share)	$ 0.35	$ 0.54	$ 0.74	$ 1.16
Earnings per share - diluted (in dollars per share)	$ 0.35	$ 0.54	$ 0.74	$ 1.16

Note 10 - Retirement Plans (Det

Note 10 - Retirement Plans (Details Textual)	3 Months Ended		6 Months Ended		9 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Sep. 30, 2023 USD ($)
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 68,063	$ 65,775	$ 148,353		$ 143,450
Number of Employees Covered by Life Insurance Policy	12		12
Other Postretirement Benefits Cost (Reversal of Cost)	$ 1,976	1,834	$ 3,952	$ 3,668
Employee benefits	$ 441,546	541,173	$ 1,047,859	1,135,230
Supplemental Employee Retirement Plan [Member]
Number of Employees Participating in Plan	4		4
Employee benefits	$ 66,000	$ 79,400	$ 132,000	$ 152,000
Profit Sharing Plan [Member]
Defined Contribution Plan, Employer Matching Contribution, Percent of Match			4%
Defined Contribution Plan, Employers Matching Contribution, Annual Vesting Percentage			100%

Note 11 - Borrowed Funds (Detai

Note 11 - Borrowed Funds (Details Textual) - USD ($)	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023	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	$ 30,900,000
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	54,000,000	$ 33,000,000,000
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	60,700,000
Federal Home Loan Bank, Advance, Branch of FHLBank, Amount	$ 15,000,000	$ 5,000,000
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 ($)	Jun. 30, 2024	Dec. 31, 2023
Securities sold under repurchase agreements	$ 2,758,183	$ 6,760,493	[1]
Long-term debt, net of issuance costs	12,270,747	13,212,378	[1]
Federal Reserve Bank Advances [Member]
Long-term debt, net of issuance costs	12,270,747	13,212,378
Federal Home Loan Bank of Atlanta [Member]
Federal Home Loan Bank advances	15,000,000	5,000,000
Federal Home Loan Bank of Atlanta [Member] | Maturing in 2023 [Member]
Federal Home Loan Bank advances	0	33,000,000
Federal Home Loan Bank of Atlanta [Member] | Maturing in 2025 [Member]
Federal Home Loan Bank advances	$ 54,000,000	$ 0
[1]Derived from audited consolidated financial statements

Note 12 - Stock-based Compens_3

Note 12 - Stock-based Compensation (Details Textual) - The 2023 Equity Compensation Plan [Member] - USD ($)	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Dec. 31, 2023
Share-Based Payment Arrangement, Expense	$ 4,538	$ 9,075
Restricted Stock Units (RSUs) [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 40,836	$ 40,836
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition		27 months
Executive Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period			2,000
Executive Officer [Member] | Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted			3,000
Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | Share-Based Payment Arrangement, Tranche One [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage			33.33%
Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | Share-Based Payment Arrangement, Tranche Two [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage			33.33%
Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] | Share-Based Payment Arrangement, Tranche Three [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Rights, Percentage			33.33%

Note 16 - Stock-based Compensat

Note 16 - Stock-based Compensation - Summary of Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member]	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Nonvested, number of shares (in shares) | shares	3,000
Nonvested, grant date fair value per share (in dollars per share) | $ / shares	$ 18.15
Granted, number of shares (in shares) | shares	0
Granted, grant date fair value per share (in dollars per share) | $ / shares	$ 0
Vested, number of shares (in shares) | shares	0
Vested, grant date fair value per share (in dollars per share) | $ / shares	$ 0
Forefeited, number of shares (in shares) | shares	0
Forefeited, grant date fair value per share (in dollars per share) | $ / shares	$ 0
Balance, number of shares (in shares) | shares	3,000
Balance, grant date fair value per share (in dollars per share) | $ / shares	$ 18.15