Southwest Georgia Financial 10-Q 14 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Aug. 03, 2018
Document And Entity Information
Entity Registrant Name	SOUTHWEST GEORGIA FINANCIAL CORP
Entity Central Index Key	315,849
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		2,545,776
Trading Symbol	SGB
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2,018

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2018	Dec. 31, 2017
ASSETS
Cash and due from banks	$ 7,786,260	$ 11,143,494
Interest-bearing deposits in other banks	27,292,172	22,994,927
Cash and cash equivalents	35,078,432	34,138,421
Certificates of deposit in other banks	1,985,000	1,985,000
Investment securities available for sale, at fair value	59,281,391	54,263,261
Investment securities held to maturity (fair value approximates $41,354,902 and $45,147,800)	41,188,852	44,590,841
Federal Home Loan Bank stock, at cost	2,474,800	2,438,200
Total investment securities	102,945,043	101,292,302
Loans	345,869,516	330,191,311
Less: Unearned income	(17,516)	(17,921)
Allowance for loan losses	(3,192,697)	(3,043,632)
Loans, net	342,659,303	327,129,758
Premises and equipment, net	13,693,397	12,249,518
Bank property held for sale	211,500	211,500
Foreclosed assets	37,605	758,878
Intangible assets	11,719	19,532
Bank owned life insurance	6,635,557	6,553,318
Other assets	4,895,615	4,734,148
Total assets	508,153,171	489,072,375
Deposits:
Interest bearing business checking	29,314,528	0
NOW accounts	54,042,854	25,871,273
Money Market	115,021,599	129,040,471
Savings	32,831,239	30,793,864
Certificates of deposit $250,000 and over	22,472,082	22,662,235
Other time accounts	63,449,358	60,969,445
Total interest-bearing deposits	317,131,660	269,337,288
Noninterest-bearing deposits	98,304,792	127,668,471
Total deposits	415,436,452	397,005,759
Short-term borrowed funds	19,471,429	17,971,429
Long-term debt	27,557,143	29,057,143
Other liabilities	3,754,070	3,895,058
Total liabilities	466,219,094	447,929,389
Stockholders' equity:
Common stock - $1 par value, 5,000,000 shares authorized, 2,545,776 shares issued	2,545,776	4,293,835
Capital surplus	7,206,799	31,701,533
Retained earnings	34,815,208	33,020,030
Accumulated other comprehensive loss	(2,633,706)	(1,629,619)
Treasury stock, at cost 0 shares for 2018 and 1,752,330 for 2017	0	(26,242,793)
Total stockholders' equity	41,934,077	41,142,986
Total liabilities and stockholders' equity	$ 508,153,171	$ 489,072,375

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Investment securities held to maturity	$ 41,354,902	$ 45,147,800
Certificates of deposit	$ 250,000	$ 250,000
Common stock, par value	$ 1	$ 1
Common stock, shares authorized	5,000,000	5,000,000
Common stock, shares issued	2,545,776	2,545,776
Treasury stock, at cost	$ 0	$ 1,752,330

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Interest income:
Interest and fees on loans	$ 4,471,832	$ 4,040,964	$ 8,765,072	$ 7,826,046
Interest on taxable securities available for sale	320,337	303,024	608,983	591,723
Interest on taxable securities held to maturity	25,661	33,638	53,808	70,580
Interest on tax exempt securities	279,079	315,860	570,082	631,878
Dividends	35,548	23,736	67,495	47,454
Interest on deposits in other banks	148,177	39,970	266,005	90,199
Interest on certificates of deposit in other banks	11,693	9,884	23,259	11,235
Total interest income	5,292,327	4,767,076	10,354,704	9,269,115
Interest expense:
Interest on deposits	481,273	269,128	853,747	540,804
Interest on federal funds purchased	2	653	8	655
Interest on other short-term borrowings	117,525	26,392	233,192	52,494
Interest on long-term debt	126,659	139,399	252,492	277,266
Total interest expense	725,459	435,572	1,339,439	871,219
Net interest income	4,566,868	4,331,504	9,015,265	8,397,896
Provision for loan losses	140,000	75,000	355,500	150,000
Net interest income after provision for loan losses	4,426,868	4,256,504	8,659,765	8,247,896
Noninterest income:
Service charges on deposit accounts	266,369	257,388	490,959	527,112
Income from trust services	63,018	55,021	121,850	109,433
Income from retail brokerage services	96,793	108,202	185,188	196,734
Income from insurance services	417,177	377,659	805,417	810,705
Income from mortgage banking services	623	66,614	1,243	138,969
Net gain (loss) on sale or disposition of assets	7,254	(10,148)	99	(9,782)
Net gain on sale of securities	0	42,604	0	166,815
Other income	208,831	203,102	449,713	443,682
Total noninterest income	1,060,065	1,100,442	2,054,469	2,383,668
Noninterest expense:
Salaries and employee benefits	2,388,128	2,319,785	4,729,247	4,617,940
Occupancy expense	294,644	276,137	584,069	554,775
Equipment expense	187,191	212,523	377,460	417,954
Data processing expense	351,117	384,307	704,908	771,070
Amortization of intangible assets	3,906	3,906	7,812	7,812
Other operating expenses	906,928	771,599	1,723,995	1,499,423
Total noninterest expenses	4,131,914	3,968,257	8,127,491	7,868,974
Income before income taxes	1,355,019	1,388,689	2,586,743	2,762,590
Provision for income taxes	207,332	315,265	206,689	623,861
Net income	$ 1,147,687	$ 1,073,424	$ 2,380,054	$ 2,138,729
Earnings per share of common stock:
Net income, basic	$ 0.45	$ 0.42	$ 0.93	$ 0.84
Net income, diluted	0.45	0.42	0.93	0.84
Dividends paid per share	$ 0.12	$ 0.11	$ 0.23	$ 0.22
Weighted average shares outstanding	2,545,776	2,547,437	2,545,351	2,547,437
Diluted average shares outstanding	2,545,776	2,547,437	2,545,351	2,547,437

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 1,147,687	$ 1,073,424	$ 2,380,054	$ 2,138,729
Other comprehensive income (loss), net of tax:
Unrealized holding gain (loss) on investment securities available for sale	(297,127)	373,399	(1,270,997)	643,147
Reclassification adjustment for (gain) loss realized in income on securities available for sale	0	(42,604)	0	(166,815)
Less: Tax effect	(62,397)	112,470	(266,910)	161,953
Total other comprehensive income (loss), net of tax	(234,730)	218,325	(1,004,087)	314,379
Total comprehensive income	$ 912,957	$ 1,291,749	$ 1,375,967	$ 2,453,108

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities:
Net income	$ 2,380,054	$ 2,138,729
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	355,500	150,000
Depreciation	474,903	436,850
Net amortization of investment securities	185,548	204,656
Income on cash surrender value of bank owned life insurance	(82,239)	(66,649)
Amortization of intangibles	7,812	7,812
Loss on sale of foreclosed assets	6,789	8,892
Disposal of fixed assets to charitable expense	0	13,045
Net gain on sale of securities	0	(166,815)
Net loss (gain) on disposal of other assets	(6,888)	1,622
Change in:
Other assets	282,059	69,385
Other liabilities	(140,255)	174,844
Net cash provided by operating activities	3,463,283	2,972,371
Cash flows from investing activities:
Proceeds from calls, paydowns and maturities of securities HTM	4,070,107	4,271,682
Proceeds from calls, paydowns and maturities of securities AFS	354,244	334,914
Proceeds from sale of securities available for sale	0	2,676,211
Purchase of securities held to maturity	(752,889)	0
Purchase of securities available for sale	(6,744,149)	(7,039,139)
Purchase of Federal Home Loan Bank Stock	(36,600)	(30,500)
Purchase of certificates of deposit in other banks	0	(1,985,000)
Net change in loans	(16,285,700)	(30,252,441)
Purchase of premises and equipment	(1,931,714)	(629,673)
Proceeds from sales of foreclosed assets	954,791	79,820
Proceeds from sales of fixed assets	2,820	900
Net cash used by investing activities	(20,369,090)	(32,573,226)
Cash flows from financing activities:
Net change in deposits	18,430,694	19,736,190
Cash dividends paid	(584,876)	(560,436)
Net cash provided by financing activities	17,845,818	19,175,754
Increase (decrease) in cash and cash equivalents	940,011	(10,425,101)
Cash and cash equivalents - beginning of period	34,138,421	26,519,916
Cash and cash equivalents - end of period	35,078,432	16,094,815
NONCASH ITEMS:
Increase in foreclosed properties and decrease in loans	413,655	0
Unrealized gain (loss) on securities available for sale	(1,270,997)	476,333
Sale of foreclosed properties through loans	0	38,000
Net reclass between short and long-term debt	1,500,000	0
Retirement of treasury stock	26,242,793	0
Receivable from sale of guaranteed foreclosed asset	172,616	0
Sale of fixed assets through loans	$ 13,000	$ 0

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accounting and reporting policies of Southwest Georgia Financial Corporation (the “Corporation”) and its direct and indirect subsidiaries, including its wholly-owned banking subsidiary, Southwest Georgia Bank (the “Bank”), conform to U.S. generally accepted accounting principles (“GAAP”) and to general practices within the banking industry. The following is a description of the more significant of those policies. Principles of Consolidation The consolidated financial statements include the accounts of the Corporation and its direct and indirect subsidiaries. All significant intercompany accounts and transactions have been eliminated in the consolidation. Nature of Operations The Corporation offers comprehensive financial services to consumer, business, and governmental entity customers through its banking offices in southwest Georgia. Its primary deposit products are money market, NOW, savings and certificates of deposit, and its primary lending products are consumer and commercial mortgage loans. In addition to conventional banking services, the Corporation provides investment planning and management, trust management, and commercial and individual insurance products. Insurance products and advice are provided by the Bank’s Southwest Georgia Insurance Services Division. The Corporation’s primary business is providing banking services through the Bank to individuals and businesses principally in the counties of Colquitt, Baker, Worth, Lowndes and the surrounding counties of southwest Georgia. The Bank operates five branch offices in its trade area. It also has three non-deposit taking locations. Trust and retail brokerage services are offered at an office building located at 25 2 nd Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the valuation of the investment portfolio, deferred taxes, estimated liabilities, allowance for loan losses, and the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans. In connection with these acquired real estate evaluations, management obtains independent appraisals for significant properties. Cash and Cash Equivalents and Statement of Cash Flows For purposes of reporting cash flows, the Corporation considers cash and cash equivalents to include all cash on hand, deposit amounts due from banks, interest-bearing deposits in other banks, and federal funds sold. The Corporation maintains its cash balances in several financial institutions. Accounts at the financial institutions are secured by the Federal Deposit Insurance Corporation (the “FDIC”) up to $250,000. There were uninsured deposits of $7,343 at June 30, 2018. Investment Securities Debt securities that management has the positive intent and ability to hold to maturity are classified as “held to maturity” and recorded at amortized cost. Securities not classified as held to maturity or trading, including equity securities with readily determinable fair values, are classified as “available for sale” and recorded at fair value with unrealized gains and losses reported in other comprehensive income. Purchase premiums and discounts are recognized in interest income using the interest method over the terms of the securities. Declines in the fair value of held to maturity and available for sale securities below their cost that are deemed to be other-than-temporarily impaired are reflected in earnings as realized losses. In estimating other-than-temporary impairment losses, management considers (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Corporation to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method. Premises and Equipment Premises and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation has been calculated primarily using the straight-line method for buildings and building improvements over the assets estimated useful lives. Equipment and furniture are depreciated using the modified accelerated recovery system method over the assets estimated useful lives for financial reporting and income tax purposes for assets purchased on or before December 31, 2003. For assets acquired after 2003, the Corporation used the straight-line method of depreciation. The following estimated useful lives are used for financial statement purposes: Land improvements 5 – 31 years Building and improvements 10 – 40 years Machinery and equipment 5 – 10 years Computer equipment 3 – 5 years Office furniture and fixtures 5 – 10 years All of the Corporation’s leases are operating leases and are not capitalized as assets for financial reporting purposes. Maintenance and repairs are charged to expense and betterments are capitalized. Long-lived assets are evaluated regularly for other-than-temporary impairment. If circumstances suggest that their value may be impaired and the write-down would be material, an assessment of recoverability is performed prior to any write-down of the asset. Impairment on intangibles is evaluated at each balance sheet date or whenever events or changes in circumstances indicate that the carrying amount should be assessed. Impairment, if any, is recognized through a valuation allowance with a corresponding charge recorded in the income statement. Bank Property Held for Sale In 2016, the Bank’s former branch in Pavo, Georgia, was transferred from premises to bank property held for sale and depreciation was discontinued. The property was booked at $211,500 which was the lower of cost or market value based on a recent appraisal. The Corporation has this property available for sale. Loans and Allowances for Loan Losses Loans are stated at principal amounts outstanding less unearned income and the allowance for loan losses. Interest income is credited to income based on the principal amount outstanding at the respective rate of interest except for interest on certain installment loans made on a discount basis which is recognized in a manner that results in a level-yield on the principal outstanding. Accrual of interest income is discontinued on loans when, in the opinion of management, collection of such interest income becomes doubtful. Accrual of interest on such loans is resumed when, in management’s judgment, the collection of interest and principal becomes probable. Fees on loans and costs incurred in origination of most loans are recognized at the time the loan is placed on the books. Because loan fees are not significant, the results on operations are not materially different from the results which would be obtained by accounting for loan fees and costs as amortized over the term of the loan as an adjustment of the yield. A loan is considered impaired when, based on current information and events, it is probable that the Corporation will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Corporation does not separately identify individual consumer and residential loans for impairment disclosures. The allowance for loan losses is established through a provision for loan losses charged to expense. Loans are charged against the allowance for loan losses when management believes the collection of the principal is unlikely. The allowance is an amount which management believes will be adequate to absorb estimated losses on existing loans that may become uncollectible based on evaluation of the collectability of loans and prior loss experience. This evaluation takes into consideration such factors as changes in the nature and volume of the loan portfolios, current economic conditions that may affect the borrowers’ ability to pay, overall portfolio quality, and review of specific problem loans. A substantial portion of the Corporation’s loans are secured by real estate located primarily in Georgia. Accordingly, the ultimate collection of these loans is susceptible to changes in the real estate market conditions of this market area. Management believes that the allowance for loan losses is adequate. While management uses available information to recognize losses on loans, future additions to the allowance may be necessary based upon changes in economic conditions. Also, various regulatory agencies, as an integral part of their examination process, periodically review the Corporation’s allowance for loan losses. Such agencies may require the Corporation to recognize additions to the allowance based on their judgments of information available to them at the time of their examination. Foreclosed Assets In accordance with policy guidelines and regulations, properties acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at the fair market value less costs to sell at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less cost to sell. A valuation allowance is established to record market value changes in foreclosed assets. Revenue and expenses from operations and changes in the valuation allowance are included in net expenses from foreclosed assets. There was no valuation allowance for foreclosed asset losses at June 30, 2018. There was one $37,605 residential real estate property in foreclosed assets as of June 30, 2018, compared with $758,878 at December 31, 2017, none of which were considered to be residential real estate. Intangible Assets Intangible assets are amortized over a determined useful life using the straight-line basis. These assets are evaluated annually as to the recoverability of the carrying value. The remaining intangibles have a remaining life of less than one year. Credit Related Financial Instruments In the ordinary course of business, the Corporation has entered into commitments to extend credit, including commitments under credit card arrangements, commercial letters of credit, and standby letters of credit. Such financial instruments are recorded when they are funded. Retirement Plans The Corporation and its direct and indirect subsidiaries have post-retirement plans covering substantially all employees. Bank Owned Life Insurance The Bank owns life insurance policies on a group of employees. Banking laws and regulations allow the Bank to purchase life insurance policies on certain employees in order to help offset the Bank’s overall employee compensation costs. The beneficial aspects of these life insurance policies are tax-free earnings and a tax-free death benefit, which are realized by the Bank as the owner of the policies. The cash surrender value of these policies is included as an asset on the balance sheet, and any increases in cash surrender value are recorded as noninterest income on the statement of income. At June 30, 2018, and December 31, 2017, the policies had a value of $6,635,557 and $6,553,318, respectively, and were 15.8% and 15.9%, respectively, of shareholders’ equity. These values are within regulatory guidelines. Income Taxes The Corporation and its direct and indirect subsidiaries file a consolidated income tax return. Each subsidiary computes its income tax expense as if it filed an individual return except that it does not receive any portion of the surtax allocation. Any benefits or disadvantages of the consolidation are absorbed by the parent company. Each subsidiary pays its allocation of federal income taxes to the parent company or receives payment from the parent company to the extent that tax benefits are realized. The Corporation reports income under the Financial Accounting Standards Board Accounting Standards Codification (“ASC”) Topic 740, Income Taxes, which requires recognition of deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Recognition of deferred tax assets is based on management’s belief that it is more likely than not that the tax benefit associated with certain temporary differences and tax credits will be realized. The Corporation will recognize a tax position as a benefit only if it is more likely than not that the tax position would be sustained in a tax examination, with an examination being presumed to occur. The amount recognized is the largest amount of a tax benefit that is greater than fifty percent likely of being realized on examination. No benefit is recorded for tax positions that do not meet the more than likely than not test. The Corporation recognizes penalties related to income tax matters in income tax expense. The Corporation is subject to U.S. federal and Georgia state income tax audit for returns for the tax period ending December 31, 2015 and subsequent years. Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) includes all changes in shareholders’ equity during a period, except those resulting from transactions with shareholders. Besides net income, other components of the Corporation’s accumulated other comprehensive income (loss) includes the after tax effect of changes in the net unrealized gain/loss on securities available for sale and the unrealized gain/loss on pension plan benefits. Trust Department Trust income is included in the accompanying consolidated financial statements on the cash basis in accordance with established industry practices. Reporting of such fees on the accrual basis would have no material effect on reported income. Advertising Costs It is the policy of the Corporation to expense advertising costs as they are incurred. The Corporation does not engage in any direct-response advertising and accordingly has no advertising costs reported as assets on its balance sheet. Costs expensed were $66,646 and $117,547 for the three and six month periods ended June 30, 2018, respectively. Recent Market and Regulatory Developments The Corporation and the Bank are subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possible additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Corporation and the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Corporation and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance sheet items, as calculated under regulatory accounting practices. The capital amounts and classifications are also subject to qualitative judgments by the federal banking agencies about components, risk weightings and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Corporation and the Bank to maintain minimum Tier 1 leverage, Tier 1 risk-based capital and Total risk-based capital ratios. In July 2013, the Board of Governors of the Federal Reserve System published the Basel III Capital Rules. These rules establish a comprehensive capital framework applicable to all depository institutions, certain bank holding companies with total consolidated assets below a certain threshold and all and savings and loan holding companies except for those that are substantially engaged in insurance underwriting or commercial activities. These rules implement higher minimum capital requirements for banks and certain bank holding companies, include a new common equity Tier 1 capital requirement and establish criteria that instruments must meet to be considered common equity Tier 1 capital, additional Tier 1 capital or Tier 2 capital. The Basel III Capital Rules became effective for the Bank on January 1, 2015, subject to a phase-in period, but are not applicable to bank holding companies, like the Corporation, with less than $1 billion in total consolidated assets that meet certain criteria. The minimum capital level requirements applicable to the Bank under the Basel III Capital Rules are: (i) a common equity Tier 1 risk-based capital ratio of 4.5%; (ii) a Tier 1 risk-based capital ratio of 6% (increased from 4%); (iii) a Total risk-based capital ratio of 8% (unchanged from the rules effective for the year ended December 31, 2014); and (iv) a Tier 1 leverage ratio of 4% for all institutions. Common equity Tier 1 capital will consist of retained earnings and common stock instruments, subject to certain adjustments. The Basel III Capital Rules set forth changes in the methods of calculating certain risk-weighted assets, which in turn affect the calculation of risk-based ratios. The new risk weightings are more punitive for assets held by banks that are deemed to be of higher risk. These changes were also effective beginning January 1, 2015. The Basel III Capital Rules also introduce a “capital conservation buffer”, which is in addition to each capital ratio and is phased-in over a three-year period beginning in January 2016. As of June 30, 2018, the Bank is considered to be well-capitalized under the Basel III Capital Rules. There have been no conditions or events since June 30, 2018, that management believes has changed the Bank’s status as “well-capitalized.” Adoption of New Accounting Standards In March 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2018-05, Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 In March 2018, FASB issued ASU 2018-04, Investment - Debt Securities (Topic 320) and Regulated Operations (Topic 980): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 117 and SEC Release No. 33-9273 In February 2018, FASB issued ASU 2018-03, Technical Corrections and Improvements to Financial Instruments - Overall (Subtopic 825-10) In May 2017, the FASB issued Accounting Standards Update (“ASU”) No. 2017-09, “Stock Compensation, Scope of Modification Accounting.” In March 2017, the FASB issued ASU No. 2017-07, Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805), In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In May 2014, the FASB began issuing guidance to change the recognition of revenue from contracts with customers. The last guidance was issued in February 2017. The standards issued during this time are as follows: ASU 2014-09, Revenue from Contracts with Customers Revenue from Contracts with Customers Deferral of the Effective Date Revenue from Contracts with Customers Principal versus Agent Considerations Revenue from Contracts with Customers Identifying Performance Obligations and Licensing Revenue Recognition Derivatives and Hedging Rescission of SEC Guidance Because of Accounting Standards Updates Pursuant to Staff Announcements at the March 3, 2016 EITF Meeting Revenue from Contracts with Customers Narrow-Scope Improvements and Practical Expedients Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers Other Income - Gains and losses from the Derecognition of Nonfinancial Assets Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets. Revenue Recognition On January 1, 2018, the Corporation adopted ASC Topic 606, using the modified retrospective method. Disclosures of revenue from contracts with customers for periods beginning after January 1, 2018, are presented under ASC Topic 606 and have not materially changed from the prior year amounts. Noninterest income, within the scope of this guidance, is recognized as services are transferred to customers in an amount that reflects the considerations expected to be entitled to in exchange for those services. The Corporation's revenue streams that were in scope include service charges on deposit accounts, income from insurance services, income from trust services, Automated Teller Machine (“ATM”) surcharge and other noninterest income. Services Charges on Deposit Accounts - Service charges on deposit accounts primarily consist of monthly maintenance charges, analysis charges and Non-sufficient funds (“NSF”) charges. The NSF charges and certain service charges are fixed and the performance obligation is typically satisfied at the time of the related transaction. The consideration for analysis charges and monthly maintenance charges are variable as the fee can be reduced if the customer meets certain qualifying metrics. The Corporation's performance obligations are satisfied either at the time of the transaction or over the course of a month. Income from Insurance Services – Income from insurance services consists primarily of property and casualty insurance, life, health, and disability insurance. Property and casualty, life, health, and disability insurance includes the brokerage of both personal and commercial coverages. The placement of the policy is completion of the Corporation's performance obligation and revenue is recognized at that time. The Corporation's commission is primarily a percentage of the premium. Income from Trust Services – Income from Trust services consists of revenue generated from services provided for corporate, pension, and personal trusts, trustee services, and administrative services for employee benefit plans. The Corporation’s performance obligation and revenue is recognized once the service has been performed. ATM Surcharge - ATM surcharge represents revenues earned from certain terminal activity. ATM surcharges primarily consist of charges assessed to our customers for using a non-Bank ATM or a non-Bank customer using our ATM. Such surcharges generally are recognized concurrently with the delivery of services on a daily basis. Other - Other noninterest income primarily consists of transaction based revenue where the performance obligation is satisfied concurrent with the revenue recognition. Recent Accounting Pronouncements In February 2018, the FASB issued ASU No. 2018-02, Income Statement – Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. In March 2017, the FASB issued ASU No. 2017-08, Receivables – Nonrefundable Fees and Other Costs (Topic 310-20): Premium Amortization on Purchased Callable Debt Securities In January 2017, the FASB issued ASU 2017-04, Intangibles-Goodwill and Other (Topic 350), In January 2017, the FASB issued ASU 2017-03, Accounting Changes and Error Corrections (Topic 250) and Investments-Equity Method and Joint Ventures (Topic 323), In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In 2016, the FASB issued ASU 2016-02 – Leases (Topic 842).

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	NOTE 2 Fair Value Measurements The Corporation utilizes fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. Securities available for sale are recorded at fair value on a recurring basis. From time to time, the Corporation may be required to record at fair value other assets on a nonrecurring basis, such as impaired loans and foreclosed real estate. Additionally, the Corporation is required to disclose, but not record, the fair value of other financial instruments. Fair Value Hierarchy: Under ASC Topic 820, the Corporation groups assets and liabilities at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are: Level 1 Valuation is based upon quoted prices for identical instruments traded in active markets. Level 2 Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuation techniques for which all significant assumptions are observable in the market. Level 3 Valuation is generated from model-based techniques that use at least one significant assumption not observable in the market. These unobservable assumptions reflect estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques. Following is a description of valuation methodologies used for assets and liabilities which are either recorded or disclosed at fair value. Cash and Cash Equivalents: For disclosure purposes for cash and due from banks, interest bearing deposits in other banks and federal funds sold, the carrying amount is a reasonable estimate of fair value. Certificates of Deposit in Other Banks: For disclosure purposes for certificates of deposit in other banks, the carrying amount is a reasonable estimate of fair value. Investment Securities Available for Sale: Investment securities available for sale are recorded at fair value on a recurring basis. Fair value measurement is based upon quoted prices, if available. If quoted prices are not available, fair values are measured using independent pricing models or other model-based valuation techniques such as the present value of future cash flows, adjusted for the security’s credit rating, prepayment assumptions and other factors such as credit loss assumptions. Level 1 securities include those traded on an active exchange, such as the New York Stock Exchange and U.S. Treasury securities that are traded by dealers or brokers in active over-the-counter market funds. Level 2 securities include mortgage-backed securities issued by government sponsored enterprises and state, county and municipal bonds. Other securities classified as available for sale are reported at fair value utilizing Level 2 inputs. Securities classified as Level 3 include asset-backed securities in less liquid markets. Investment Securities Held to Maturity: Investment securities held to maturity are not recorded at fair value on a recurring basis. For disclosure purposes, fair value measurement is based upon quoted prices, if available. Federal Home Loan Bank Stock: For disclosure purposes, the carrying value of other investments approximate fair value. Loans: The Corporation does not record loans at fair value on a recurring basis. However, from time to time, a loan is considered impaired and a specific allocation is established within the allowance for loan losses. Loans for which it is probable that payment of interest and principal will not be made in accordance with the contractual terms of the loan agreement are considered impaired. Once a loan is identified as individually impaired, management measures impairment in accordance with ASC Topic 310, Accounting by Creditors for Impairment of a Loan For disclosure purposes, the fair value of fixed rate loans which are not considered impaired, is estimated by discounting the future cash flows using the current rates at which similar loans would be made to borrowers with similar credit ratings. For unimpaired variable rate loans, the carrying amount is a reasonable estimate of fair value for disclosure purposes. Foreclosed Assets: Other real estate properties are adjusted to fair value upon transfer of the loans to other real estate. Subsequently, other real estate assets are carried at the lower of carrying value or fair value. Fair value is based upon independent market prices, appraised values of the collateral or management’s estimation of the value of the collateral. When the fair value of the collateral is based on an observable market price or a current appraised value, the Corporation records the other real estate as nonrecurring Level 2. When the appraised value is reduced by costs to sell, the appraised value is not available, or management determines the fair value of the collateral is further impaired below the appraised value and there is no observable market price, the Corporation records the other real estate asset as nonrecurring Level 3. Bank Owned Life Insurance: For disclosure purposes, for cash surrender value of life insurance, the carrying value is a reasonable estimate of fair value. Deposits: For disclosure purposes, the fair value of demand deposits, savings accounts, NOW accounts and money market deposits is the amount payable on demand at the reporting date, while the fair value of fixed maturity certificates of deposit is estimated by discounting the future cash flows using current rates at which comparable certificates would be issued. FHLB Advances: For disclosure purposes, the fair value of the FHLB fixed rate borrowing is estimated using discounted cash flows, based on the current incremental borrowing rates for similar types of borrowing arrangements. Commitments to Extend Credit and Standby Letters of Credit: Because commitments to extend credit and standby letters of credit are made using variable rates and have short maturities, the carrying value and the fair value are immaterial for disclosure. Assets Recorded at Fair Value on a Recurring Basis: The table below presents the recorded amount of assets measured at fair value on a recurring basis as of June 30, 2018, and December 31, 2017. June 30, 2018 Level 1 Level 2 Level 3 Total Investment securities available for sale: U.S. government treasury securities $ 937,150 $ 0 $ 0 $ 937,150 U.S. government agency securities 0 45,763,966 0 45,763,966 State and municipal securities 0 7,366,009 0 7,366,009 Residential mortgage-backed securities 0 5,214,266 0 5,214,266 Total $ 937,150 $ 58,344,241 $ 0 $ 59,281,391 December 31, 2017 Level 1 Level 2 Level 3 Total Investment securities available for sale: U.S. government treasury securities $ 967,770 $ 0 $ 0 $ 967,770 U.S. government agency securities 0 43,860,090 0 43,860,090 State and municipal securities 0 7,573,689 0 7,573,689 Residential mortgage-backed securities 0 1,861,712 0 1,861,712 Total $ 967,770 $ 53,295,491 $ 0 $ 54,263,261 Assets Recorded at Fair Value on a Nonrecurring Basis: The Corporation may be required, from time to time, to measure certain assets at fair value on a nonrecurring basis in accordance with GAAP. These include assets that are measured at the lower of cost or market that were recognized at fair value below cost at the end of the period. Assets measured at fair value on a nonrecurring basis are included in the table below as of June 30, 2018, and December 31, 2017. June 30, 2018 Level 1 Level 2 Level 3 Total Foreclosed assets $ 0 $ 0 $ 37,605 $ 37,605 Impaired loans 0 0 4,696,044 4,696,044 Total assets at fair value $ 0 $ 0 $ 4,743,649 $ 4,733,649 December 31, 2017 Level 1 Level 2 Level 3 Total Foreclosed assets $ 0 $ 0 $ 758,878 $ 758,878 Impaired loans 0 0 4,563,951 4,563,951 Total assets at fair value $ 0 $ 0 $ 5,322,829 $ 5,322,829 Foreclosed properties that are included above as measured at fair value on a nonrecurring basis are those properties that resulted from a loan that had been foreclosed and charged down or have been written down subsequent to foreclosure. Foreclosed properties are generally recorded at the appraised value less estimated selling costs in the range of 15 – 20%. Loans that are reported above as being measured at fair value on a nonrecurring basis are generally impaired loans that have been either partially charged off or have specific reserves assigned to them. Nonaccrual impaired loans that are collateral dependent are generally written down to the present value of expected payments from all sources, but not more than the discounted appraised value less selling costs. Specific reserves are established for impaired loans based on appraised value of collateral or discounted cash flows. The carrying amount and estimated fair values of the Corporation’s assets and liabilities which are required to be either disclosed or recorded at fair value at June 30, 2018, and December 31, 2017: Estimated Fair Value June 30, 2018 Carrying Amount Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets: Cash and cash equivalents $ 35,078 $ 35,078 $ 0 $ 0 $ 35,078 Certificates of deposit in other banks 1,985 1,985 0 0 1,985 Investment securities available for sale 59,281 937 58,344 0 59,281 Investment securities held to maturity 41,189 0 41,355 0 41,355 Federal Home Loan Bank stock 2,475 0 2,475 0 2,475 Loans, net 342,659 0 332,201 4,696 336,897 Bank owned life insurance 6,636 0 6,636 0 6,636 Liabilities: Deposits 415,436 0 415,614 0 415,614 Federal Home Loan Bank advances 47,029 0 46,328 0 46,328 Estimated Fair Value December 31, 2017 Carrying Amount Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets: Cash and cash equivalents $ 34,138 $ 34,138 $ 0 $ 0 $ 34,138 Certificates of deposit in other banks 1,985 1,985 0 0 1,985 Investment securities available for sale 54,263 968 53,295 0 54,263 Investment securities held to maturity 44,591 0 45,148 0 45,148 Federal Home Loan Bank stock 2,438 0 2,438 0 2,438 Loans, net 327,130 0 320,684 4,564 325,248 Bank owned life insurance 6,553 0 6,553 0 6,553 Liabilities: Deposits 397,006 0 397,331 0 397,331 Federal Home Loan Bank advances 47,029 0 46,658 0 46,658 Limitations: Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial statement element. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore cannot be determined with precision. Changes in assumptions could significantly affect the estimates. Fair value estimates included herein are based on existing on- and off-balance-sheet financial instruments without attempting to estimate the value of anticipated future business and the fair value of assets and liabilities that are not required to be recorded or disclosed at fair value like premises and equipment. In addition, the tax ramifications related to the realization of the unrealized gains and losses can have a significant effect on fair value estimates and have not been considered in the estimates.

Investment Securities

Investment Securities	6 Months Ended
	Jun. 30, 2018
Schedule of Investments [Abstract]
Investment Securities	NOTE 3 Investment Securities Debt securities have been classified in the consolidated balance sheets according to management’s intent. The amortized cost of securities as shown in the consolidated balance sheets and their estimated fair values at June 30, 2018, and December 31, 2017, were as follows: Securities Available For Sale: June 30, 2018 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value U.S. government treasury securities $ 981,003 $ 0 $ 43,853 $ 937,150 U.S. government agency securities 46,898,058 132,172 1,266,264 45,763,966 State and municipal securities 7,439,068 7,832 80,891 7,366,009 Residential mortgage-backed securities 5,224,820 26,256 36,810 5,214,266 Total debt securities AFS $ 60,542,949 $ 166,260 $ 1,427,818 $ 59,281,391 December 31, 2017 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value U.S. government treasury securities $ 979,983 $ 0 $ 12,213 $ 967,770 U.S. government agency securities 43,978,023 580,366 698,299 43,860,090 State and municipal securities 7,482,912 129,231 38,454 7,573,689 Residential mortgage-backed securities 1,812,905 51,651 2,844 1,861,712 Total debt securities AFS $ 54,253,823 $ 761,248 $ 751,810 $ 54,263,261 Securities Held to Maturity June 30, 2018 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value State and municipal securities $ 38,464,151 $ 254,885 $ 113,763 $ 38,605,273 Residential mortgage-backed securities 2,724,701 38,471 13,543 2,749,629 Total securities HTM $ 41,188,852 $ 293,356 $ 127,306 $ 41,354,902 December 31, 2017 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value State and municipal securities $ 41,447,092 $ 527,632 $ 48,083 $ 41,926,641 Residential mortgage-backed securities 3,143,749 77,542 132 3,221,159 Total securities HTM $ 44,590,841 $ 605,174 $ 48,215 $ 45,147,800 The amortized cost and estimated fair value of debt securities at June 30, 2018, and December 31, 2017, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. June 30, 2018 Available for Sale: Amortized Cost Estimated Fair Value Amounts maturing in: One year or less $ 0 $ 0 After one through five years 22,800,358 22,655,959 After five through ten years 31,901,853 30,803,677 After ten years 5,840,738 5,821,755 Total debt securities AFS $ 60,542,949 $ 59,281,391 Held to Maturity: Amortized Cost Estimated Fair Value Amounts maturing in: One year or less $ 10,960,234 $ 10,992,480 After one through five years 16,042,915 16,168,889 After five through ten years 11,635,793 11,651,316 After ten years 2,549,910 2,542,217 Total securities HTM $ 41,188,852 $ 41,354,902 December 31, 2017 Available for Sale: Amortized Cost Estimated Fair Value Amounts maturing in: One year or less $ 0 $ 0 After one through five years 15,437,594 15,556,274 After five through ten years 35,610,754 35,441,617 After ten years 3,205,475 3,265,370 Total debt securities AFS $ 54,253,823 $ 54,263,261 Held to Maturity: Amortized Cost Estimated Fair Value Amounts maturing in: One year or less $ 9,812,609 $ 9,821,948 After one through five years 19,467,142 19,680,375 After five through ten years 12,546,856 12,806,108 After ten years 2,764,234 2,839,369 Total securities HTM $ 44,590,841 $ 45,147,800 The following tables summarize the activity of security sales by intention and year for the three and six months ended June 30, 2018, and 2017. Securities Available For Sale: Three Months Ended Six Months Ended June 30, 2018 June 30, 2017 June 30, 2018 June 30, 2017 Proceeds of sales $ 0 $ 2,540,000 $ 0 $ 2,676,211 Gross gains $ 0 $ 42,604 $ 0 $ 166,815 Gross losses 0 0 0 0 Net gains on sales of available for sale securities $ 0 $ 42,604 $ 0 $ 166,815 There were no sales of held to maturity securities during the three and six months ended June 30, 2018 and 2017. Information pertaining to securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in continuous loss position, follows: June 30, 2018 Less Than Twelve Months Twelve Months or More Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Securities Available for Sale Temporarily impaired debt securities: U.S. government treasury securities $ 43,853 $ 937,150 $ 0 $ 0 U.S. government agency securities 200,948 14,494,684 1,065,316 17,884,362 State and municipal securities 51,139 3,263,884 29,752 860,805 Residential mortgage-backed securities 31,922 4,457,071 4,888 151,312 Total debt securities available for sale $ 327,862 $ 23,152,789 $ 1,099,956 $ 18,896,479 Securities Held to Maturity Temporarily impaired debt securities: State and municipal securities $ 63,317 $ 14,656,107 $ 50,446 $ 1,257,836 Residential mortgage-backed securities 13,543 1,086,248 0 0 Total securities held to maturity $ 76,860 $ 15,742,355 $ 50,446 $ 1,257,836 December 31, 2017 Less Than Twelve Months Twelve Months or More Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Securities Available for Sale Temporarily impaired debt securities: U.S. government treasury securities $ 12,213 $ 967,770 $ 0 $ 0 U.S. government agency securities 34,083 4,988,630 664,216 18,347,439 State and municipal securities 16,836 975,900 21,618 877,798 Residential mortgage-backed securities 0 0 2,844 188,081 Total debt securities available for sale $ 63,132 $ 6,932,300 $ 688,678 $ 19,413,318 Securities Held to Maturity Temporarily impaired debt securities: State and municipal securities $ 15,954 $ 5,521,443 $ 32,129 $ 1,281,797 Residential mortgage-backed securities 132 146,203 0 0 Total securities held to maturity $ 16,086 $ 5,667,646 $ 32,129 $ 1,281,797 Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Corporation to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. At June 30, 2018, ninety-six debt securities with unrealized losses have depreciated 2.6% from the Corporation’s amortized cost basis. These unrealized losses relate principally to current interest rates for similar types of securities. In analyzing an issuer’s financial condition, management considers whether the securities are issued by the federal government, its agencies, or other governments, whether downgrades by bond rating agencies have occurred, and the results of reviews of the issuer’s financial condition. Management has the ability to hold debt securities until maturity, or for the foreseeable future if classified as available for sale. Also, no declines in debt securities are deemed to be other-than-temporary.

Loans and Allowance for Loan Lo

Loans and Allowance for Loan Losses	6 Months Ended
	Jun. 30, 2018
Receivables [Abstract]
Loans and Allowance for Loan Losses	NOTE 4 Loans and Allowance for Loan Losses The composition of the Corporation’s loan portfolio and the percentage of loans in each category to total loans at June 30, 2018 and December 31, 2017, were as follows: June 30, 2018 December 31, 2017 Commercial, financial and agricultural loans $ 78,181,702 22.6 % $ 73,146,397 22.2 % Real estate: Construction loans 23,938,671 6.9 % 22,287,012 6.8 % Commercial mortgage loans 103,256,875 29.9 % 106,458,342 32.2 % Residential loans 103,562,173 29.9 % 99,159,607 30.0 % Agricultural loans 31,835,341 9.2 % 25,373,621 7.7 % Consumer & other loans 5,094,754 1.5 % 3,766,332 1.1 % Loans outstanding 345,869,516 100.0 % 330,191,311 100.0 % Unearned interest and discount (17,516 ) (17,921 ) Allowance for loan losses (3,192,697 ) (3,043,632 ) Net loans $ 342,659,303 $ 327,129,758 The Corporation’s only significant concentration of credit at June 30, 2018, occurred in real estate loans which totaled $262,593,060 compared with $253,278,582 at December 31, 2017. However, this amount was not concentrated in any specific segment within the market or geographic area. Multifamily and 1-4 family mortgage loans are pledged to the Federal Home Loan Bank to secure outstanding advances. At June 30, 2018, $117,500,925 in loans were pledged in this capacity. The following table shows maturities of the commercial, financial, agricultural, and construction loan portfolio at June 30, 2018. Commercial, Financial, Agricultural and Construction Distribution of loans which are due: In one year or less $ 26,149,959 After one year but within five years 51,905,582 After five years 24,064,832 Total $ 102,120,373 The following table shows, for such loans due after one year, the amounts which have predetermined interest rates and the amounts which have floating or adjustable interest rates at June 30, 2018. Loans With Predetermined Loans With Rates Floating Rates Total Commercial, financial, agricultural and construction $ 72,442,500 $ 3,527,914 $ 75,970,414 Appraisal Policy When a loan is first identified as a problem loan, the appraisal is reviewed to determine if the appraised value is still appropriate for the collateral. For the duration that a loan is considered a problem loan, the appraised value of the collateral is monitored on a quarterly basis. If significant changes occur in market conditions or in the condition of the collateral, a new appraisal will be obtained. Nonaccrual Policy The Corporation does not accrue interest on any loan (1) that is maintained on a cash basis due to the deteriorated financial condition of the borrower, (2) for which payment in full of principal or interest is not expected, or (3) upon which principal or interest has been past due for ninety days or more unless the loan is well secured and in the process of collection. A loan subsequently placed on nonaccrual status may be returned to accrual status if (1) all past due interest and principal is paid with expectations of any remaining contractual principal and interest being repaid or (2) the loan becomes well secured and in the process of collection. Loans placed on nonaccrual status amounted to $1,719,623 and $1,674,656 at June 30, 2018, and December 31, 2017, respectively. There were no past due loans over ninety days and still accruing at June 30, 2018, or December 31, 2017. The accrual of interest is discontinued when the loan is placed on nonaccrual. Interest income that would have been recorded on these nonaccrual loans in accordance with their original terms totaled $63,091 for June 30, 2018, and $41,496 for December 31, 2017. The following tables present an age analysis of past due loans still accruing interest and nonaccrual loans segregated by class of loans. Age Analysis of Past Due Loans As of June 30, 2018 30-89 Days Past Due 90 Days or Greater Total Past Due Loans Nonaccrual Loans Current Loans Total Loans Commercial, financial and agricultural loans $ 752,019 $ 0 $ 752,019 $ 481,448 $ 76,948,235 $ 78,181,702 Real estate: Construction loans 389,654 0 389,654 0 23,549,017 23,938,671 Commercial mortgage loans 582,416 0 582,416 1,153,804 101,520,655 103,256,875 Residential loans 351,938 0 351,938 81,436 103,128,799 103,562,173 Agricultural loans 0 0 0 0 31,835,341 31,835,341 Consumer & other loans 30,673 0 30,673 2,935 5,061,146 5,094,754 Total loans $ 2,106,700 $ 0 $ 2,106,700 $ 1,719,623 $ 342,043,193 $ 345,869,516 Age Analysis of Past Due Loans As of December 31, 2017 30-89 Days Past Due 90 Days or Greater Total Past Due Loans Nonaccrual Loans Current Loans Total Loans Commercial, financial and agricultural loans $ 364,527 $ 0 $ 364,527 $ 394,455 $ 72,387,415 $ 73,146,397 Real estate: Construction loans 198,861 0 198,861 0 22,088,151 22,287,012 Commercial mortgage loans 645,214 0 645,214 757,085 105,056,043 106,458,342 Residential loans 2,023,517 0 2,023,517 518,301 96,617,789 99,159,607 Agricultural loans 0 0 0 0 25,373,621 25,373,621 Consumer & other loans 30,033 0 30,033 4,815 3,731,484 3,766,332 Total loans $ 3,262,152 $ 0 $ 3,262,152 $ 1,674,656 $ 325,254,503 $ 330,191,311 Impaired Loans A loan is considered impaired when, based on current information and events, it is probable that the Corporation will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. At June 30, 2018, and December 31, 2017, impaired loans amounted to $5,259,520 and $4,895,730, respectively. A reserve amount of $563,476 and $331,779 was recorded in the allowance for loan losses for these impaired loans as of June 30, 2018, and December 31, 2017, respectively. The following tables present impaired loans, segregated by class of loans as of June 30, 2018, and December 31, 2017: Unpaid Recorded Investment Year-to-date Average Interest Income Received June 30, 2018 Principal Balance With No Allowance With Allowance Total Related Allowance Recorded Investment During Impairment Commercial, financial and agricultural loans $ 1,235,050 $ 427,276 $ 606,472 $ 1,033,748 $ 306,543 $ 509,358 $ 12,446 Real estate: Construction loans 420,625 299,825 0 299,825 0 299,825 12,896 Commercial mortgage loans 2,003,797 1,497,705 337,375 1,835,080 55,338 1,573,756 24,533 Residential loans 1,956,522 1,172,306 763,304 1,935,610 199,229 1,896,255 71,510 Agricultural loans 136,883 136,883 0 136,883 0 136,883 3,523 Consumer & other loans 18,374 31 18,343 18,374 2,366 18,374 821 Total loans $ 5,771,251 $ 3,534,026 $ 1,725,494 $ 5,259,520 $ 563,476 $ 4,434,451 $ 125,729 Unpaid Recorded Investment Year-to-date Average Interest Income Received December 31, 2017 Principal Balance With No Allowance With Allowance Total Related Allowance Recorded Investment During Impairment Commercial, financial and agricultural loans $ 459,003 $ 208,032 $ 250,971 $ 459,003 $ 44,468 $ 169,930 $ 10,920 Real estate: Construction loans 549,599 428,799 0 428,799 0 162,698 24,487 Commercial mortgage loans 1,615,811 1,107,654 339,440 1,447,094 57,403 1,071,663 54,582 Residential loans 2,476,728 316,230 2,079,823 2,396,053 224,916 2,233,562 108,472 Agricultural loans 142,966 142,966 0 142,966 0 142,966 8,198 Consumer & other loans 21,815 846 20,969 21,815 4,992 9,003 521 Total loans $ 5,265,922 $ 2,204,527 $ 2,691,203 $ 4,895,730 $ 331,779 $ 3,789,822 $ 207,180 At June 30, 2017, the year-to-date average recorded investment of impaired loans was $3,476,225 and the interest income received during impairment was $140,026. At June 30, 2018, and December 31, 2017, included in impaired loans were $2,648 and $4,243, respectively, of troubled debt restructurings. Troubled Debt Restructurings (TDR) Loans are considered to have been modified in a troubled debt restructuring, or TDR, when due to a borrower’s financial difficulty the Corporation makes certain concessions to the borrower that it would not otherwise consider for new debt with similar risk characteristics. Modifications may include interest rate reductions, principal or interest forgiveness, forbearance, and other actions intended to minimize economic loss and to avoid foreclosure or repossession of the collateral. Each potential loan modification is reviewed individually and the terms of the loan are modified to meet the borrower’s specific circumstances at a point in time. Not all loan modifications are TDRs. However, performance prior to the modification, or significant events that coincide with the modification, are included in assessing whether the borrower can meet the new terms and may result in the loan being returned to accrual status at the time of loan modification or after a shorter performance period. Loan modifications are reviewed and recommended by the Corporation’s senior credit officer, who determines whether the loan meets the criteria for a TDR. Generally, the types of concessions granted to borrowers that are evaluated in determining whether the loan is classified as a TDR include: · Interest rate reductions – Occur when the stated interest rate is reduced to a nonmarket rate or a rate the borrower would not be able to obtain elsewhere under similar circumstances. · Amortization or maturity date changes – Result when the amortization period of the loan is extended beyond what is considered a normal amortization period for loans of similar type with similar collateral. · Principal reductions – Arise when the Corporation charges off a portion of the principal that is not fully collateralized and collectability is uncertain; however, this portion of principal may be recovered in the future under certain circumstances. The following tables present the amount of troubled debt restructuring by loan class, classified separately as accrual and nonaccrual at June 30, 2018, and December 31, 2017, as well as those currently paying under restructured terms and those that have defaulted under restructured terms as of June 30, 2018, and December 31, 2017. Loans modified in a troubled debt restructuring are considered to be in default once the loan becomes 30 or more days past due. June 30, 2018 Under restructured terms Accruing Non-accruing # Current # Default Commercial, financial, and agricultural loans $ 0 $ 0 0 $ 0 0 $ 0 Real estate: Construction loans 0 0 0 0 0 0 Commercial mortgage loans 0 0 0 0 0 0 Residential loans 2,617 0 1 2,617 0 0 Agricultural loans 0 0 0 0 0 0 Consumer & other loans 31 0 1 31 0 0 Total TDR’s $ 2,648 $ 0 2 $ 2,648 0 $ 0 December 31, 2017 Under restructured terms Accruing Non-accruing # Current # Default Commercial, financial, and agricultural loans $ 0 $ 0 0 $ 0 0 $ 0 Real estate: Construction loans 0 0 0 0 0 0 Commercial mortgage loans 0 0 0 0 0 0 Residential loans 3,397 0 1 3,397 0 0 Agricultural loans 0 0 0 0 0 0 Consumer & other loans 846 0 1 846 0 0 Total TDR’s $ 4,243 $ 0 2 $ 4,243 0 $ 0 The following table presents the amount of troubled debt restructurings by types of concessions made, classified separately as accrual and non-accrual at June 30, 2018, and December 31, 2017. June 30, 2018 December 31, 2017 Accruing Nonaccruing Accruing Nonaccruing # Balance # Balance # Balance # Balance Type of concession: Payment modification 0 $ 0 0 $ 0 0 $ 0 0 $ 0 Rate reduction 0 0 0 0 0 0 0 0 Rate reduction, payment modification 2 2,648 0 0 2 4,243 0 0 Forbearance of interest 0 0 0 0 0 0 0 0 Total 2 $ 2,648 0 $ 0 2 $ 4,243 0 $ 0 As of June 30, 2018, and December 31, 2017, the Corporation had a balance of $2,648 and $4,243, respectively, in troubled debt restructurings. The Corporation had no charge-offs on such loans at June 30, 2018, and December 31, 2017. The Corporation had no balance in the allowance for loan losses allocated to such troubled debt restructurings at June 30, 2018, or December 31, 2017. The Corporation had no unfunded commitments to lend to a customer that has a troubled debt restructured loan as of June 30, 2018. Credit Risk Monitoring and Loan Grading The Corporation employs several means to monitor the risk in the loan portfolio including volume and severity of loan delinquencies, nonaccrual loans, internal grading of loans, historical loss experience and economic conditions. Loans are subject to an internal risk-grading system which indicates the risk and acceptability of that loan. The loan grades used by the Corporation are for internal risk identification purposes and do not directly correlate to regulatory classification categories or any financial reporting definitions. The general characteristics of the risk grades are as follows: Grade 1 – Exceptional Grade 2 – Above Average Grade 3 – Acceptable Grade 4 – Fair Grade 5a – Watch – Grade 5b – Other Assets Especially Mentioned (OAEM) – Grade 6 – Substandard Grade 7 – Doubtful Grade 8 – Loss The following tables present internal loan grading by class of loans as of June 30, 2018, and December 31, 2017: June 30, 2018 Commercial, Financial, and Agricultural Construction Real Estate Commercial Real Estate Residential Real Estate Agricultural Real Estate Consumer and Other Total Rating: Grade 1- Exceptional $ 1,097,426 $ 0 $ 0 $ 23,413 $ 0 $ 268,906 $ 1,389,745 Grade 2- Above Avg. 0 0 0 0 0 44,523 44,523 Grade 3- Acceptable 26,032,845 2,447,663 28,502,586 25,852,885 12,058,971 1,303,193 96,198,143 Grade 4- Fair 45,475,568 21,191,183 69,526,437 72,985,670 19,306,808 3,436,103 231,921,769 Grade 5a- Watch 655,512 0 483,434 990,978 0 18,433 2,148,357 Grade 5b- OAEM 3,214,477 0 488,733 1,123,179 332,679 31 5,159,099 Grade 6- Substandard 1,200,281 299,825 4,255,685 2,586,048 136,883 23,565 8,502,287 Grade 7- Doubtful 505,593 0 0 0 0 0 505,593 Total loans $ 78,181,702 $ 23,938,671 $ 103,256,875 $ 103,562,173 $ 31,835,341 $ 5,094,754 $ 345,869,516 December 31, 2017 Commercial, Financial, and Agricultural Construction Real Estate Commercial Real Estate Residential Real Estate Agricultural Real Estate Consumer and Other Total Rating: Grade 1- Exceptional $ 1,371,135 $ 0 $ 0 $ 23,919 $ 0 $ 325,236 $ 1,720,290 Grade 2- Above Avg. 0 0 0 0 0 51,421 51,421 Grade 3- Acceptable 27,024,359 2,085,620 30,090,030 26,304,640 11,071,244 866,455 97,442,348 Grade 4- Fair 42,821,117 19,772,593 70,518,545 68,103,351 13,781,326 2,494,509 217,491,441 Grade 5a- Watch 120,626 0 1,027,581 757,628 39,344 7,572 1,952,751 Grade 5b- OAEM 557,070 0 3,073,051 1,226,841 338,741 1,357 5,197,060 Grade 6- Substandard 945,238 428,799 1,749,135 2,743,228 142,966 19,782 6,029,148 Grade 7- Doubtful 306,852 0 0 0 0 0 306,852 Total loans $ 73,146,397 $ 22,287,012 $ 106,458,342 $ 99,159,607 $ 25,373,621 $ 3,766,332 $ 330,191,311 Allowance for Loan Losses Methodology The allowance for loan losses (ALL) is determined by a calculation based on segmenting the loans into the following categories: (1) impaired loans and nonaccrual loans, (2) loans with a credit risk rating of 5b, 6, 7 or 8, (3) other outstanding loans, and (4) other commitments to lend. In addition, unallocated general reserves are estimated based on migration and economic analysis of the loan portfolio. The ALL is calculated by the addition of the estimated loss derived from each of the above categories. The impaired loans and nonaccrual loans are analyzed on an individual basis to determine if the future collateral value is sufficient to support the outstanding debt of the loan. If an estimated loss is calculated, it is included in the estimated ALL until it is charged to the loan loss reserve. The calculation for loan risk graded 5b, 6, 7 or 8, other outstanding loans and other commitments to lend is based on assigning an estimated loss factor based on a twelve quarter rolling historical weighted average net loss rate. The estimated requirement for unallocated general reserves from migration and economic analysis is determined by considering (1) trends in asset quality, (2) level and trends in charge-off experience, (3) macroeconomic trends and conditions, (4) microeconomic trends and conditions and (5) risk profile of lending activities. Within each of these categories, a risk factor percentage from a rating of excessive, high, moderate or low will be determined by management and applied to the loan portfolio. By adding the estimated value from the migration and economic analysis to the estimated reserve from the loan portfolio, a total estimated loss reserves is obtained. This amount is then compared to the actual amount in the loan loss reserve. The calculation of ALL is performed on a monthly basis and is presented to the Loan Committee and the Board of Directors. The following table details activity in the ALL and loans evaluated for impairment by class of loans for the three and six month periods ended June 30, 2018. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. The annualized net charge-offs to average loans outstanding ratio was 0.12% for the six months ended June 30, 2018, compared with 0.12% at December 31, 2017. Three months ended June 30, 2018 Commercial, Financial, and Agricultural Construction Real Estate Commercial Real Estate Residential Real Estate Agricultural Real Estate Consumer and Other Total Allowance for loan losses: Beginning balance, March 31, 2018 $ 291,991 $ 1,042,691 $ 1,140,773 $ 442,830 $ 58,211 $ 193,913 $ 3,170,409 Charge-offs 122,175 0 0 0 0 0 122,175 Recoveries 1,653 0 0 0 1,200 1,610 4,463 Net charge-offs 120,522 0 0 0 (1,200 ) (1,610 ) 117,712 Provisions charged to operations 266,192 (104,001 ) (56,296 ) 2,366 31,611 128 140,000 Balance at end of period, June 30, 2018 $ 437,661 $ 938,690 $ 1,084,477 $ 445,196 $ 91,022 $ 195,651 $ 3,192,697 Six months ended June 30, 2018 June 30, 2018 Commercial, Financial, and Agricultural Construction Real Estate Commercial Real Estate Residential Real Estate Agricultural Real Estate Consumer and Other Total Allowance for loan losses: Beginning balance, December 31, 2017 $ 324,260 $ 1,043,083 $ 1,056,595 $ 416,474 $ 11,560 $ 191,660 $ 3,043,632 Charge-offs 208,829 783 0 6,909 0 0 216,521 Recoveries 7,276 0 0 0 1,200 1,610 10,086 Net charge-offs 201,553 783 0 6,909 (1,200 ) (1,610 ) 206,435 Provisions charged to operations 314,954 (103,610 ) 27,882 35,631 78,262 2,381 355,500 Balance at end of period, June 30, 2018 $ 437,661 $ 938,690 $ 1,084,477 $ 445,196 $ 91,022 $ 195,651 $ 3,192,697 Ending balance - Individually evaluated for impairment $ 306,543 $ 0 $ 55,338 $ 199,229 $ 0 $ 2,366 $ 563,476 Collectively evaluated for impairment 131,118 938,690 1,029,139 245,967 91,022 193,285 2,629,221 Balance at end of period $ 437,661 $ 938,690 $ 1,084,477 $ 445,196 $ 91,022 $ 195,651 $ 3,192,697 Loans : Ending balance - Individually evaluated for impairment $ 1,033,748 $ 299,825 $ 4,211,744 $ 2,070,770 $ 136,883 $ 18,374 $ 7,771,344 Collectively evaluated for impairment 77,147,954 23,638,846 99,045,131 101,491,403 31,698,458 5,076,380 338,098,172 Balance at end of period $ 78,181,702 $ 23,938,671 $ 103,256,875 $ 103,562,173 $ 31,835,341 $ 5,094,754 $ 345,869,516 At June 30, 2018, of the $7,771,344 loans that were individually evaluated for impairment, only $5,259,520 were deemed impaired. The following table details activity in the ALL and loans evaluated for impairment by class of loans for the year ended December 31, 2017. December 31, 2017 Commercial, Financial, and Agricultural Construction Real Estate Commercial Real Estate Residential Real Estate Agricultural Real Estate Consumer and Other Total Allowance for loan losses: Beginning balance, December 31, 2016 $ 191,267 $ 1,043,083 $ 1,192,098 $ 420,189 $ 86,656 $ 191,318 $ 3,124,611 Charge-offs 113,334 0 168,717 59,764 93,503 12,429 447,747 Recoveries 63,486 0 0 0 0 3,282 66,768 Net charge-offs 49,848 0 168,717 59,764 93,503 9,147 380,979 Provisions charged to operations 182,841 0 33,214 56,049 18,407 9,489 300,000 Balance at end of period, December 31, 2017 $ 324,260 $ 1,043,083 $ 1,056,595 $ 416,474 $ 11,560 $ 191,660 $ 3,043,632 Ending balance - Individually evaluated for impairment $ 44,468 $ 0 $ 57,403 $ 224,916 $ 0 $ 4,992 $ 331,779 Collectively evaluated for impairment 279,792 1,043,083 999,192 191,558 11,560 186,668 2,711,853 Balance at end of period $ 324,260 $ 1,043,083 $ 1,056,595 $ 416,474 $ 11,560 $ 191,660 $ 3,043,632 Loans : Ending balance - Individually evaluated for impairment $ 459,003 $ 428,799 $ 4,561,198 $ 2,448,531 $ 142,966 $ 21,815 $ 8,062,312 Collectively evaluated for impairment 72,687,394 21,858,213 101,897,144 96,711,076 25,230,655 3,744,517 322,128,999 Balance at end of period $ 73,146,397 $ 22,287,012 $ 106,458,342 $ 99,159,607 $ 25,373,621 $ 3,766,332 $ 330,191,311 At December 31, 2017, of the $8,062,312 loans that were individually evaluated for impairment, only $4,895,730 were deemed impaired.

Summary of Significant Accoun11

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Corporation and its direct and indirect subsidiaries. All significant intercompany accounts and transactions have been eliminated in the consolidation.
Nature of Operations	Nature of Operations The Corporation offers comprehensive financial services to consumer, business, and governmental entity customers through its banking offices in southwest Georgia. Its primary deposit products are money market, NOW, savings and certificates of deposit, and its primary lending products are consumer and commercial mortgage loans. In addition to conventional banking services, the Corporation provides investment planning and management, trust management, and commercial and individual insurance products. Insurance products and advice are provided by the Bank’s Southwest Georgia Insurance Services Division. The Corporation’s primary business is providing banking services through the Bank to individuals and businesses principally in the counties of Colquitt, Baker, Worth, Lowndes and the surrounding counties of southwest Georgia. The Bank operates five branch offices in its trade area. It also has three non-deposit taking locations. Trust and retail brokerage services are offered at an office building located at 25 2 nd
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant change relate to the determination of the valuation of the investment portfolio, deferred taxes, estimated liabilities, allowance for loan losses, and the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans. In connection with these acquired real estate evaluations, management obtains independent appraisals for significant properties.
Cash and Cash Equivalents and Statement of Cash Flows	Cash and Cash Equivalents and Statement of Cash Flows For purposes of reporting cash flows, the Corporation considers cash and cash equivalents to include all cash on hand, deposit amounts due from banks, interest-bearing deposits in other banks, and federal funds sold. The Corporation maintains its cash balances in several financial institutions. Accounts at the financial institutions are secured by the Federal Deposit Insurance Corporation (the “FDIC”) up to $250,000. There were uninsured deposits of $7,343 at June 30, 2018.
Investment Securities	Investment Securities Debt securities that management has the positive intent and ability to hold to maturity are classified as “held to maturity” and recorded at amortized cost. Securities not classified as held to maturity or trading, including equity securities with readily determinable fair values, are classified as “available for sale” and recorded at fair value with unrealized gains and losses reported in other comprehensive income. Purchase premiums and discounts are recognized in interest income using the interest method over the terms of the securities. Declines in the fair value of held to maturity and available for sale securities below their cost that are deemed to be other-than-temporarily impaired are reflected in earnings as realized losses. In estimating other-than-temporary impairment losses, management considers (1) the length of time and the extent to which the fair value has been less than cost, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Corporation to retain its investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. Gains and losses on the sale of securities are recorded on the trade date and are determined using the specific identification method.
Premises and Equipment	Premises and Equipment Premises and equipment are stated at cost, less accumulated depreciation and amortization. Depreciation has been calculated primarily using the straight-line method for buildings and building improvements over the assets estimated useful lives. Equipment and furniture are depreciated using the modified accelerated recovery system method over the assets estimated useful lives for financial reporting and income tax purposes for assets purchased on or before December 31, 2003. For assets acquired after 2003, the Corporation used the straight-line method of depreciation. The following estimated useful lives are used for financial statement purposes: Land improvements 5 – 31 years Building and improvements 10 – 40 years Machinery and equipment 5 – 10 years Computer equipment 3 – 5 years Office furniture and fixtures 5 – 10 years All of the Corporation’s leases are operating leases and are not capitalized as assets for financial reporting purposes. Maintenance and repairs are charged to expense and betterments are capitalized. Long-lived assets are evaluated regularly for other-than-temporary impairment. If circumstances suggest that their value may be impaired and the write-down would be material, an assessment of recoverability is performed prior to any write-down of the asset. Impairment on intangibles is evaluated at each balance sheet date or whenever events or changes in circumstances indicate that the carrying amount should be assessed. Impairment, if any, is recognized through a valuation allowance with a corresponding charge recorded in the income statement.
Bank Property Held for Sale	Bank Property Held for Sale In 2016, the Bank’s former branch in Pavo, Georgia, was transferred from premises to bank property held for sale and depreciation was discontinued. The property was booked at $211,500 which was the lower of cost or market value based on a recent appraisal. The Corporation has this property available for sale.
Loans and Allowances for Loan Losses	Loans and Allowances for Loan Losses Loans are stated at principal amounts outstanding less unearned income and the allowance for loan losses. Interest income is credited to income based on the principal amount outstanding at the respective rate of interest except for interest on certain installment loans made on a discount basis which is recognized in a manner that results in a level-yield on the principal outstanding. Accrual of interest income is discontinued on loans when, in the opinion of management, collection of such interest income becomes doubtful. Accrual of interest on such loans is resumed when, in management’s judgment, the collection of interest and principal becomes probable. Fees on loans and costs incurred in origination of most loans are recognized at the time the loan is placed on the books. Because loan fees are not significant, the results on operations are not materially different from the results which would be obtained by accounting for loan fees and costs as amortized over the term of the loan as an adjustment of the yield. A loan is considered impaired when, based on current information and events, it is probable that the Corporation will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis for commercial and construction loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price, or the fair value of the collateral if the loan is collateral dependent. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Corporation does not separately identify individual consumer and residential loans for impairment disclosures. The allowance for loan losses is established through a provision for loan losses charged to expense. Loans are charged against the allowance for loan losses when management believes the collection of the principal is unlikely. The allowance is an amount which management believes will be adequate to absorb estimated losses on existing loans that may become uncollectible based on evaluation of the collectability of loans and prior loss experience. This evaluation takes into consideration such factors as changes in the nature and volume of the loan portfolios, current economic conditions that may affect the borrowers’ ability to pay, overall portfolio quality, and review of specific problem loans. A substantial portion of the Corporation’s loans are secured by real estate located primarily in Georgia. Accordingly, the ultimate collection of these loans is susceptible to changes in the real estate market conditions of this market area. Management believes that the allowance for loan losses is adequate. While management uses available information to recognize losses on loans, future additions to the allowance may be necessary based upon changes in economic conditions. Also, various regulatory agencies, as an integral part of their examination process, periodically review the Corporation’s allowance for loan losses. Such agencies may require the Corporation to recognize additions to the allowance based on their judgments of information available to them at the time of their examination.
Foreclosed Assets	Foreclosed Assets In accordance with policy guidelines and regulations, properties acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at the fair market value less costs to sell at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less cost to sell. A valuation allowance is established to record market value changes in foreclosed assets. Revenue and expenses from operations and changes in the valuation allowance are included in net expenses from foreclosed assets. There was no valuation allowance for foreclosed asset losses at June 30, 2018. There was one $37,605 residential real estate property in foreclosed assets as of June 30, 2018, compared with $758,878 at December 31, 2017, none of which were considered to be residential real estate.
Intangible Assets	Intangible Assets Intangible assets are amortized over a determined useful life using the straight-line basis. These assets are evaluated annually as to the recoverability of the carrying value. The remaining intangibles have a remaining life of less than one year.
Credit Related Financial Instruments	Credit Related Financial Instruments In the ordinary course of business, the Corporation has entered into commitments to extend credit, including commitments under credit card arrangements, commercial letters of credit, and standby letters of credit. Such financial instruments are recorded when they are funded.
Retirement Plans	Retirement Plans The Corporation and its direct and indirect subsidiaries have post-retirement plans covering substantially all employees.
Bank Owned Life Insurance	Bank Owned Life Insurance The Bank owns life insurance policies on a group of employees. Banking laws and regulations allow the Bank to purchase life insurance policies on certain employees in order to help offset the Bank’s overall employee compensation costs. The beneficial aspects of these life insurance policies are tax-free earnings and a tax-free death benefit, which are realized by the Bank as the owner of the policies. The cash surrender value of these policies is included as an asset on the balance sheet, and any increases in cash surrender value are recorded as noninterest income on the statement of income. At June 30, 2018, and December 31, 2017, the policies had a value of $6,635,557 and $6,553,318, respectively, and were 15.8% and 15.9%, respectively, of shareholders’ equity. These values are within regulatory guidelines.
Income Taxes	Income Taxes The Corporation and its direct and indirect subsidiaries file a consolidated income tax return. Each subsidiary computes its income tax expense as if it filed an individual return except that it does not receive any portion of the surtax allocation. Any benefits or disadvantages of the consolidation are absorbed by the parent company. Each subsidiary pays its allocation of federal income taxes to the parent company or receives payment from the parent company to the extent that tax benefits are realized. The Corporation reports income under the Financial Accounting Standards Board Accounting Standards Codification (“ASC”) Topic 740, Income Taxes, which requires recognition of deferred tax liabilities and assets for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax liabilities and assets are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Recognition of deferred tax assets is based on management’s belief that it is more likely than not that the tax benefit associated with certain temporary differences and tax credits will be realized. The Corporation will recognize a tax position as a benefit only if it is more likely than not that the tax position would be sustained in a tax examination, with an examination being presumed to occur. The amount recognized is the largest amount of a tax benefit that is greater than fifty percent likely of being realized on examination. No benefit is recorded for tax positions that do not meet the more than likely than not test. The Corporation recognizes penalties related to income tax matters in income tax expense. The Corporation is subject to U.S. federal and Georgia state income tax audit for returns for the tax period ending December 31, 2015 and subsequent years.
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) includes all changes in shareholders’ equity during a period, except those resulting from transactions with shareholders. Besides net income, other components of the Corporation’s accumulated other comprehensive income (loss) includes the after tax effect of changes in the net unrealized gain/loss on securities available for sale and the unrealized gain/loss on pension plan benefits.
Trust Department	Trust Department Trust income is included in the accompanying consolidated financial statements on the cash basis in accordance with established industry practices. Reporting of such fees on the accrual basis would have no material effect on reported income.
Advertising Costs	Advertising Costs It is the policy of the Corporation to expense advertising costs as they are incurred. The Corporation does not engage in any direct-response advertising and accordingly has no advertising costs reported as assets on its balance sheet. Costs expensed were $66,646 and $117,547 for the three and six month periods ended June 30, 2018, respectively.
Recent Market and Regulatory Developments	Recent Market and Regulatory Developments The Corporation and the Bank are subject to various regulatory capital requirements administered by federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possible additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Corporation and the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Corporation and the Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance sheet items, as calculated under regulatory accounting practices. The capital amounts and classifications are also subject to qualitative judgments by the federal banking agencies about components, risk weightings and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Corporation and the Bank to maintain minimum Tier 1 leverage, Tier 1 risk-based capital and Total risk-based capital ratios. In July 2013, the Board of Governors of the Federal Reserve System published the Basel III Capital Rules. These rules establish a comprehensive capital framework applicable to all depository institutions, certain bank holding companies with total consolidated assets below a certain threshold and all and savings and loan holding companies except for those that are substantially engaged in insurance underwriting or commercial activities. These rules implement higher minimum capital requirements for banks and certain bank holding companies, include a new common equity Tier 1 capital requirement and establish criteria that instruments must meet to be considered common equity Tier 1 capital, additional Tier 1 capital or Tier 2 capital. The Basel III Capital Rules became effective for the Bank on January 1, 2015, subject to a phase-in period, but are not applicable to bank holding companies, like the Corporation, with less than $1 billion in total consolidated assets that meet certain criteria. The minimum capital level requirements applicable to the Bank under the Basel III Capital Rules are: (i) a common equity Tier 1 risk-based capital ratio of 4.5%; (ii) a Tier 1 risk-based capital ratio of 6% (increased from 4%); (iii) a Total risk-based capital ratio of 8% (unchanged from the rules effective for the year ended December 31, 2014); and (iv) a Tier 1 leverage ratio of 4% for all institutions. Common equity Tier 1 capital will consist of retained earnings and common stock instruments, subject to certain adjustments. The Basel III Capital Rules set forth changes in the methods of calculating certain risk-weighted assets, which in turn affect the calculation of risk-based ratios. The new risk weightings are more punitive for assets held by banks that are deemed to be of higher risk. These changes were also effective beginning January 1, 2015. The Basel III Capital Rules also introduce a “capital conservation buffer”, which is in addition to each capital ratio and is phased-in over a three-year period beginning in January 2016. As of June 30, 2018, the Bank is considered to be well-capitalized under the Basel III Capital Rules. There have been no conditions or events since June 30, 2018, that management believes has changed the Bank’s status as “well-capitalized.”
Adoption of New Accounting Standards	Adoption of New Accounting Standards In March 2018, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2018-05, Income Taxes (Topic 740): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 In March 2018, FASB issued ASU 2018-04, Investment - Debt Securities (Topic 320) and Regulated Operations (Topic 980): Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 117 and SEC Release No. 33-9273 In February 2018, FASB issued ASU 2018-03, Technical Corrections and Improvements to Financial Instruments - Overall (Subtopic 825-10) In May 2017, the FASB issued Accounting Standards Update (“ASU”) No. 2017-09, “Stock Compensation, Scope of Modification Accounting.” In March 2017, the FASB issued ASU No. 2017-07, Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805), In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In May 2014, the FASB began issuing guidance to change the recognition of revenue from contracts with customers. The last guidance was issued in February 2017. The standards issued during this time are as follows: ASU 2014-09, Revenue from Contracts with Customers Revenue from Contracts with Customers Deferral of the Effective Date Revenue from Contracts with Customers Principal versus Agent Considerations Revenue from Contracts with Customers Identifying Performance Obligations and Licensing Revenue Recognition Derivatives and Hedging Rescission of SEC Guidance Because of Accounting Standards Updates Pursuant to Staff Announcements at the March 3, 2016 EITF Meeting Revenue from Contracts with Customers Narrow-Scope Improvements and Practical Expedients Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers Other Income - Gains and losses from the Derecognition of Nonfinancial Assets Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets.
Revenue Recognition	Revenue Recognition On January 1, 2018, the Corporation adopted ASC Topic 606, using the modified retrospective method. Disclosures of revenue from contracts with customers for periods beginning after January 1, 2018, are presented under ASC Topic 606 and have not materially changed from the prior year amounts. Noninterest income, within the scope of this guidance, is recognized as services are transferred to customers in an amount that reflects the considerations expected to be entitled to in exchange for those services. The Corporation's revenue streams that were in scope include service charges on deposit accounts, income from insurance services, income from trust services, Automated Teller Machine (“ATM”) surcharge and other noninterest income. Services Charges on Deposit Accounts - Service charges on deposit accounts primarily consist of monthly maintenance charges, analysis charges and Non-sufficient funds (“NSF”) charges. The NSF charges and certain service charges are fixed and the performance obligation is typically satisfied at the time of the related transaction. The consideration for analysis charges and monthly maintenance charges are variable as the fee can be reduced if the customer meets certain qualifying metrics. The Corporation's performance obligations are satisfied either at the time of the transaction or over the course of a month. Income from Insurance Services – Income from insurance services consists primarily of property and casualty insurance, life, health, and disability insurance. Property and casualty, life, health, and disability insurance includes the brokerage of both personal and commercial coverages. The placement of the policy is completion of the Corporation's performance obligation and revenue is recognized at that time. The Corporation's commission is primarily a percentage of the premium. Income from Trust Services – Income from Trust services consists of revenue generated from services provided for corporate, pension, and personal trusts, trustee services, and administrative services for employee benefit plans. The Corporation’s performance obligation and revenue is recognized once the service has been performed. ATM Surcharge - ATM surcharge represents revenues earned from certain terminal activity. ATM surcharges primarily consist of charges assessed to our customers for using a non-Bank ATM or a non-Bank customer using our ATM. Such surcharges generally are recognized concurrently with the delivery of services on a daily basis. Other - Other noninterest income primarily consists of transaction based revenue where the performance obligation is satisfied concurrent with the revenue recognition.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2018, the FASB issued ASU No. 2018-02, Income Statement – Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. In March 2017, the FASB issued ASU No. 2017-08, Receivables – Nonrefundable Fees and Other Costs (Topic 310-20): Premium Amortization on Purchased Callable Debt Securities In January 2017, the FASB issued ASU 2017-04, Intangibles-Goodwill and Other (Topic 350), In January 2017, the FASB issued ASU 2017-03, Accounting Changes and Error Corrections (Topic 250) and Investments-Equity Method and Joint Ventures (Topic 323), In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In 2016, the FASB issued ASU 2016-02 – Leases (Topic 842).

Summary of Significant Accoun12

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Schedule of Estimated Useful Lives of Premises and Equipment	The following estimated useful lives are used for financial statement purposes: Land improvements 5 – 31 years Building and improvements 10 – 40 years Machinery and equipment 5 – 10 years Computer equipment 3 – 5 years Office furniture and fixtures 5 – 10 years

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of Assets Recorded at Fair Value on a Recurring Basis	The table below presents the recorded amount of assets measured at fair value on a recurring basis as of June 30, 2018, and December 31, 2017. June 30, 2018 Level 1 Level 2 Level 3 Total Investment securities available for sale: U.S. government treasury securities $ 937,150 $ 0 $ 0 $ 937,150 U.S. government agency securities 0 45,763,966 0 45,763,966 State and municipal securities 0 7,366,009 0 7,366,009 Residential mortgage-backed securities 0 5,214,266 0 5,214,266 Total $ 937,150 $ 58,344,241 $ 0 $ 59,281,391 December 31, 2017 Level 1 Level 2 Level 3 Total Investment securities available for sale: U.S. government treasury securities $ 967,770 $ 0 $ 0 $ 967,770 U.S. government agency securities 0 43,860,090 0 43,860,090 State and municipal securities 0 7,573,689 0 7,573,689 Residential mortgage-backed securities 0 1,861,712 0 1,861,712 Total $ 967,770 $ 53,295,491 $ 0 $ 54,263,261
Schedule of Fair Value of Assets Recorded on a Nonrecurring Basis	Assets measured at fair value on a nonrecurring basis are included in the table below as of June 30, 2018, and December 31, 2017. June 30, 2018 Level 1 Level 2 Level 3 Total Foreclosed assets $ 0 $ 0 $ 37,605 $ 37,605 Impaired loans 0 0 4,696,044 4,696,044 Total assets at fair value $ 0 $ 0 $ 4,743,649 $ 4,733,649 December 31, 2017 Level 1 Level 2 Level 3 Total Foreclosed assets $ 0 $ 0 $ 758,878 $ 758,878 Impaired loans 0 0 4,563,951 4,563,951 Total assets at fair value $ 0 $ 0 $ 5,322,829 $ 5,322,829
Schedule of Carrying and Estimated Fair Value of Assets and Liabilities Recorded at Fair Value	The carrying amount and estimated fair values of the Corporation’s assets and liabilities which are required to be either disclosed or recorded at fair value at June 30, 2018, and December 31, 2017: Estimated Fair Value June 30, 2018 Carrying Amount Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets: Cash and cash equivalents $ 35,078 $ 35,078 $ 0 $ 0 $ 35,078 Certificates of deposit in other banks 1,985 1,985 0 0 1,985 Investment securities available for sale 59,281 937 58,344 0 59,281 Investment securities held to maturity 41,189 0 41,355 0 41,355 Federal Home Loan Bank stock 2,475 0 2,475 0 2,475 Loans, net 342,659 0 332,201 4,696 336,897 Bank owned life insurance 6,636 0 6,636 0 6,636 Liabilities: Deposits 415,436 0 415,614 0 415,614 Federal Home Loan Bank advances 47,029 0 46,328 0 46,328 Estimated Fair Value December 31, 2017 Carrying Amount Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets: Cash and cash equivalents $ 34,138 $ 34,138 $ 0 $ 0 $ 34,138 Certificates of deposit in other banks 1,985 1,985 0 0 1,985 Investment securities available for sale 54,263 968 53,295 0 54,263 Investment securities held to maturity 44,591 0 45,148 0 45,148 Federal Home Loan Bank stock 2,438 0 2,438 0 2,438 Loans, net 327,130 0 320,684 4,564 325,248 Bank owned life insurance 6,553 0 6,553 0 6,553 Liabilities: Deposits 397,006 0 397,331 0 397,331 Federal Home Loan Bank advances 47,029 0 46,658 0 46,658

Investment Securities (Tables)

Investment Securities (Tables)	6 Months Ended
	Jun. 30, 2018
Schedule of Investments [Abstract]
Schedule of Securities Available for Sale	The amortized cost of securities as shown in the consolidated balance sheets and their estimated fair values at June 30, 2018, and December 31, 2017, were as follows: Securities Available For Sale: June 30, 2018 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value U.S. government treasury securities $ 981,003 $ 0 $ 43,853 $ 937,150 U.S. government agency securities 46,898,058 132,172 1,266,264 45,763,966 State and municipal securities 7,439,068 7,832 80,891 7,366,009 Residential mortgage-backed securities 5,224,820 26,256 36,810 5,214,266 Total debt securities AFS $ 60,542,949 $ 166,260 $ 1,427,818 $ 59,281,391 December 31, 2017 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value U.S. government treasury securities $ 979,983 $ 0 $ 12,213 $ 967,770 U.S. government agency securities 43,978,023 580,366 698,299 43,860,090 State and municipal securities 7,482,912 129,231 38,454 7,573,689 Residential mortgage-backed securities 1,812,905 51,651 2,844 1,861,712 Total debt securities AFS $ 54,253,823 $ 761,248 $ 751,810 $ 54,263,261
Schedule of Securities Held to Maturity	Securities Held to Maturity June 30, 2018 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value State and municipal securities $ 38,464,151 $ 254,885 $ 113,763 $ 38,605,273 Residential mortgage-backed securities 2,724,701 38,471 13,543 2,749,629 Total securities HTM $ 41,188,852 $ 293,356 $ 127,306 $ 41,354,902 December 31, 2017 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value State and municipal securities $ 41,447,092 $ 527,632 $ 48,083 $ 41,926,641 Residential mortgage-backed securities 3,143,749 77,542 132 3,221,159 Total securities HTM $ 44,590,841 $ 605,174 $ 48,215 $ 45,147,800
Summary of Amortized Cost and Estimated Fair Value of Debt Securities	June 30, 2018 Available for Sale: Amortized Cost Estimated Fair Value Amounts maturing in: One year or less $ 0 $ 0 After one through five years 22,800,358 22,655,959 After five through ten years 31,901,853 30,803,677 After ten years 5,840,738 5,821,755 Total debt securities AFS $ 60,542,949 $ 59,281,391 Held to Maturity: Amortized Cost Estimated Fair Value Amounts maturing in: One year or less $ 10,960,234 $ 10,992,480 After one through five years 16,042,915 16,168,889 After five through ten years 11,635,793 11,651,316 After ten years 2,549,910 2,542,217 Total securities HTM $ 41,188,852 $ 41,354,902 December 31, 2017 Available for Sale: Amortized Cost Estimated Fair Value Amounts maturing in: One year or less $ 0 $ 0 After one through five years 15,437,594 15,556,274 After five through ten years 35,610,754 35,441,617 After ten years 3,205,475 3,265,370 Total debt securities AFS $ 54,253,823 $ 54,263,261 Held to Maturity: Amortized Cost Estimated Fair Value Amounts maturing in: One year or less $ 9,812,609 $ 9,821,948 After one through five years 19,467,142 19,680,375 After five through ten years 12,546,856 12,806,108 After ten years 2,764,234 2,839,369 Total securities HTM $ 44,590,841 $ 45,147,800
Schedule of Activity of Security Sales by Intention	The following tables summarize the activity of security sales by intention and year for the three and six months ended June 30, 2018, and 2017. Securities Available For Sale: Three Months Ended Six Months Ended June 30, 2018 June 30, 2017 June 30, 2018 June 30, 2017 Proceeds of sales $ 0 $ 2,540,000 $ 0 $ 2,676,211 Gross gains $ 0 $ 42,604 $ 0 $ 166,815 Gross losses 0 0 0 0 Net gains on sales of available for sale securities $ 0 $ 42,604 $ 0 $ 166,815
Schedule of Information Pertaining to Securities Gross Unrealized Losses by Investments	Information pertaining to securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in continuous loss position, follows: June 30, 2018 Less Than Twelve Months Twelve Months or More Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Securities Available for Sale Temporarily impaired debt securities: U.S. government treasury securities $ 43,853 $ 937,150 $ 0 $ 0 U.S. government agency securities 200,948 14,494,684 1,065,316 17,884,362 State and municipal securities 51,139 3,263,884 29,752 860,805 Residential mortgage-backed securities 31,922 4,457,071 4,888 151,312 Total debt securities available for sale $ 327,862 $ 23,152,789 $ 1,099,956 $ 18,896,479 Securities Held to Maturity Temporarily impaired debt securities: State and municipal securities $ 63,317 $ 14,656,107 $ 50,446 $ 1,257,836 Residential mortgage-backed securities 13,543 1,086,248 0 0 Total securities held to maturity $ 76,860 $ 15,742,355 $ 50,446 $ 1,257,836 December 31, 2017 Less Than Twelve Months Twelve Months or More Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Securities Available for Sale Temporarily impaired debt securities: U.S. government treasury securities $ 12,213 $ 967,770 $ 0 $ 0 U.S. government agency securities 34,083 4,988,630 664,216 18,347,439 State and municipal securities 16,836 975,900 21,618 877,798 Residential mortgage-backed securities 0 0 2,844 188,081 Total debt securities available for sale $ 63,132 $ 6,932,300 $ 688,678 $ 19,413,318 Securities Held to Maturity Temporarily impaired debt securities: State and municipal securities $ 15,954 $ 5,521,443 $ 32,129 $ 1,281,797 Residential mortgage-backed securities 132 146,203 0 0 Total securities held to maturity $ 16,086 $ 5,667,646 $ 32,129 $ 1,281,797

Loans and Allowance for Loan 15

Loans and Allowance for Loan Losses (Tables)	6 Months Ended
	Jun. 30, 2018
Receivables [Abstract]
Schedule of Loan Portfolio and Percentage of Loans in Each Category to Total Loans	The composition of the Corporation’s loan portfolio and the percentage of loans in each category to total loans at June 30, 2018 and December 31, 2017, were as follows: June 30, 2018 December 31, 2017 Commercial, financial and agricultural loans $ 78,181,702 22.6 % $ 73,146,397 22.2 % Real estate: Construction loans 23,938,671 6.9 % 22,287,012 6.8 % Commercial mortgage loans 103,256,875 29.9 % 106,458,342 32.2 % Residential loans 103,562,173 29.9 % 99,159,607 30.0 % Agricultural loans 31,835,341 9.2 % 25,373,621 7.7 % Consumer & other loans 5,094,754 1.5 % 3,766,332 1.1 % Loans outstanding 345,869,516 100.0 % 330,191,311 100.0 % Unearned interest and discount (17,516 ) (17,921 ) Allowance for loan losses (3,192,697 ) (3,043,632 ) Net loans $ 342,659,303 $ 327,129,758
Summary of Maturities of Loan Portfolio	The following table shows maturities of the commercial, financial, agricultural, and construction loan portfolio at June 30, 2018. Commercial, Financial, Agricultural and Construction Distribution of loans which are due: In one year or less $ 26,149,959 After one year but within five years 51,905,582 After five years 24,064,832 Total $ 102,120,373
Summary of Loans Due after One Year	The following table shows, for such loans due after one year, the amounts which have predetermined interest rates and the amounts which have floating or adjustable interest rates at June 30, 2018. Loans With Predetermined Loans With Rates Floating Rates Total Commercial, financial, agricultural and construction $ 72,442,500 $ 3,527,914 $ 75,970,414
Schedule of Past Due Loans and Nonaccrual Loans	The following tables present an age analysis of past due loans still accruing interest and nonaccrual loans segregated by class of loans. Age Analysis of Past Due Loans As of June 30, 2018 30-89 Days Past Due 90 Days or Greater Total Past Due Loans Nonaccrual Loans Current Loans Total Loans Commercial, financial and agricultural loans $ 752,019 $ 0 $ 752,019 $ 481,448 $ 76,948,235 $ 78,181,702 Real estate: Construction loans 389,654 0 389,654 0 23,549,017 23,938,671 Commercial mortgage loans 582,416 0 582,416 1,153,804 101,520,655 103,256,875 Residential loans 351,938 0 351,938 81,436 103,128,799 103,562,173 Agricultural loans 0 0 0 0 31,835,341 31,835,341 Consumer & other loans 30,673 0 30,673 2,935 5,061,146 5,094,754 Total loans $ 2,106,700 $ 0 $ 2,106,700 $ 1,719,623 $ 342,043,193 $ 345,869,516 Age Analysis of Past Due Loans As of December 31, 2017 30-89 Days Past Due 90 Days or Greater Total Past Due Loans Nonaccrual Loans Current Loans Total Loans Commercial, financial and agricultural loans $ 364,527 $ 0 $ 364,527 $ 394,455 $ 72,387,415 $ 73,146,397 Real estate: Construction loans 198,861 0 198,861 0 22,088,151 22,287,012 Commercial mortgage loans 645,214 0 645,214 757,085 105,056,043 106,458,342 Residential loans 2,023,517 0 2,023,517 518,301 96,617,789 99,159,607 Agricultural loans 0 0 0 0 25,373,621 25,373,621 Consumer & other loans 30,033 0 30,033 4,815 3,731,484 3,766,332 Total loans $ 3,262,152 $ 0 $ 3,262,152 $ 1,674,656 $ 325,254,503 $ 330,191,311
Schedule of Impaired Loans Segregated by Class of Loans	The following tables present impaired loans, segregated by class of loans as of June 30, 2018, and December 31, 2017: Unpaid Recorded Investment Year-to-date Average Interest Income Received June 30, 2018 Principal Balance With No Allowance With Allowance Total Related Allowance Recorded Investment During Impairment Commercial, financial and agricultural loans $ 1,235,050 $ 427,276 $ 606,472 $ 1,033,748 $ 306,543 $ 509,358 $ 12,446 Real estate: Construction loans 420,625 299,825 0 299,825 0 299,825 12,896 Commercial mortgage loans 2,003,797 1,497,705 337,375 1,835,080 55,338 1,573,756 24,533 Residential loans 1,956,522 1,172,306 763,304 1,935,610 199,229 1,896,255 71,510 Agricultural loans 136,883 136,883 0 136,883 0 136,883 3,523 Consumer & other loans 18,374 31 18,343 18,374 2,366 18,374 821 Total loans $ 5,771,251 $ 3,534,026 $ 1,725,494 $ 5,259,520 $ 563,476 $ 4,434,451 $ 125,729 Unpaid Recorded Investment Year-to-date Average Interest Income Received December 31, 2017 Principal Balance With No Allowance With Allowance Total Related Allowance Recorded Investment During Impairment Commercial, financial and agricultural loans $ 459,003 $ 208,032 $ 250,971 $ 459,003 $ 44,468 $ 169,930 $ 10,920 Real estate: Construction loans 549,599 428,799 0 428,799 0 162,698 24,487 Commercial mortgage loans 1,615,811 1,107,654 339,440 1,447,094 57,403 1,071,663 54,582 Residential loans 2,476,728 316,230 2,079,823 2,396,053 224,916 2,233,562 108,472 Agricultural loans 142,966 142,966 0 142,966 0 142,966 8,198 Consumer & other loans 21,815 846 20,969 21,815 4,992 9,003 521 Total loans $ 5,265,922 $ 2,204,527 $ 2,691,203 $ 4,895,730 $ 331,779 $ 3,789,822 $ 207,180
Schedule of Troubled Debt Restructuring by Loan Class	June 30, 2018 Under restructured terms Accruing Non-accruing # Current # Default Commercial, financial, and agricultural loans $ 0 $ 0 0 $ 0 0 $ 0 Real estate: Construction loans 0 0 0 0 0 0 Commercial mortgage loans 0 0 0 0 0 0 Residential loans 2,617 0 1 2,617 0 0 Agricultural loans 0 0 0 0 0 0 Consumer & other loans 31 0 1 31 0 0 Total TDR’s $ 2,648 $ 0 2 $ 2,648 0 $ 0 December 31, 2017 Under restructured terms Accruing Non-accruing # Current # Default Commercial, financial, and agricultural loans $ 0 $ 0 0 $ 0 0 $ 0 Real estate: Construction loans 0 0 0 0 0 0 Commercial mortgage loans 0 0 0 0 0 0 Residential loans 3,397 0 1 3,397 0 0 Agricultural loans 0 0 0 0 0 0 Consumer & other loans 846 0 1 846 0 0 Total TDR’s $ 4,243 $ 0 2 $ 4,243 0 $ 0
Schedule of Troubled Debt Restructurings by Types of Concessions Made	The following table presents the amount of troubled debt restructurings by types of concessions made, classified separately as accrual and non-accrual at June 30, 2018, and December 31, 2017. June 30, 2018 December 31, 2017 Accruing Nonaccruing Accruing Nonaccruing # Balance # Balance # Balance # Balance Type of concession: Payment modification 0 $ 0 0 $ 0 0 $ 0 0 $ 0 Rate reduction 0 0 0 0 0 0 0 0 Rate reduction, payment modification 2 2,648 0 0 2 4,243 0 0 Forbearance of interest 0 0 0 0 0 0 0 0 Total 2 $ 2,648 0 $ 0 2 $ 4,243 0 $ 0
Schedule of Internal Loan Grading By Class of Loans	The following tables present internal loan grading by class of loans as of June 30, 2018, and December 31, 2017: June 30, 2018 Commercial, Financial, and Agricultural Construction Real Estate Commercial Real Estate Residential Real Estate Agricultural Real Estate Consumer and Other Total Rating: Grade 1- Exceptional $ 1,097,426 $ 0 $ 0 $ 23,413 $ 0 $ 268,906 $ 1,389,745 Grade 2- Above Avg. 0 0 0 0 0 44,523 44,523 Grade 3- Acceptable 26,032,845 2,447,663 28,502,586 25,852,885 12,058,971 1,303,193 96,198,143 Grade 4- Fair 45,475,568 21,191,183 69,526,437 72,985,670 19,306,808 3,436,103 231,921,769 Grade 5a- Watch 655,512 0 483,434 990,978 0 18,433 2,148,357 Grade 5b- OAEM 3,214,477 0 488,733 1,123,179 332,679 31 5,159,099 Grade 6- Substandard 1,200,281 299,825 4,255,685 2,586,048 136,883 23,565 8,502,287 Grade 7- Doubtful 505,593 0 0 0 0 0 505,593 Total loans $ 78,181,702 $ 23,938,671 $ 103,256,875 $ 103,562,173 $ 31,835,341 $ 5,094,754 $ 345,869,516 December 31, 2017 Commercial, Financial, and Agricultural Construction Real Estate Commercial Real Estate Residential Real Estate Agricultural Real Estate Consumer and Other Total Rating: Grade 1- Exceptional $ 1,371,135 $ 0 $ 0 $ 23,919 $ 0 $ 325,236 $ 1,720,290 Grade 2- Above Avg. 0 0 0 0 0 51,421 51,421 Grade 3- Acceptable 27,024,359 2,085,620 30,090,030 26,304,640 11,071,244 866,455 97,442,348 Grade 4- Fair 42,821,117 19,772,593 70,518,545 68,103,351 13,781,326 2,494,509 217,491,441 Grade 5a- Watch 120,626 0 1,027,581 757,628 39,344 7,572 1,952,751 Grade 5b- OAEM 557,070 0 3,073,051 1,226,841 338,741 1,357 5,197,060 Grade 6- Substandard 945,238 428,799 1,749,135 2,743,228 142,966 19,782 6,029,148 Grade 7- Doubtful 306,852 0 0 0 0 0 306,852 Total loans $ 73,146,397 $ 22,287,012 $ 106,458,342 $ 99,159,607 $ 25,373,621 $ 3,766,332 $ 330,191,311
Schedule of Allowance for Loan Losses Methodology	Three months ended June 30, 2018 Commercial, Financial, and Agricultural Construction Real Estate Commercial Real Estate Residential Real Estate Agricultural Real Estate Consumer and Other Total Allowance for loan losses: Beginning balance, March 31, 2018 $ 291,991 $ 1,042,691 $ 1,140,773 $ 442,830 $ 58,211 $ 193,913 $ 3,170,409 Charge-offs 122,175 0 0 0 0 0 122,175 Recoveries 1,653 0 0 0 1,200 1,610 4,463 Net charge-offs 120,522 0 0 0 (1,200 ) (1,610 ) 117,712 Provisions charged to operations 266,192 (104,001 ) (56,296 ) 2,366 31,611 128 140,000 Balance at end of period, June 30, 2018 $ 437,661 $ 938,690 $ 1,084,477 $ 445,196 $ 91,022 $ 195,651 $ 3,192,697 Six months ended June 30, 2018 June 30, 2018 Commercial, Financial, and Agricultural Construction Real Estate Commercial Real Estate Residential Real Estate Agricultural Real Estate Consumer and Other Total Allowance for loan losses: Beginning balance, December 31, 2017 $ 324,260 $ 1,043,083 $ 1,056,595 $ 416,474 $ 11,560 $ 191,660 $ 3,043,632 Charge-offs 208,829 783 0 6,909 0 0 216,521 Recoveries 7,276 0 0 0 1,200 1,610 10,086 Net charge-offs 201,553 783 0 6,909 (1,200 ) (1,610 ) 206,435 Provisions charged to operations 314,954 (103,610 ) 27,882 35,631 78,262 2,381 355,500 Balance at end of period, June 30, 2018 $ 437,661 $ 938,690 $ 1,084,477 $ 445,196 $ 91,022 $ 195,651 $ 3,192,697 Ending balance - Individually evaluated for impairment $ 306,543 $ 0 $ 55,338 $ 199,229 $ 0 $ 2,366 $ 563,476 Collectively evaluated for impairment 131,118 938,690 1,029,139 245,967 91,022 193,285 2,629,221 Balance at end of period $ 437,661 $ 938,690 $ 1,084,477 $ 445,196 $ 91,022 $ 195,651 $ 3,192,697 Loans : Ending balance - Individually evaluated for impairment $ 1,033,748 $ 299,825 $ 4,211,744 $ 2,070,770 $ 136,883 $ 18,374 $ 7,771,344 Collectively evaluated for impairment 77,147,954 23,638,846 99,045,131 101,491,403 31,698,458 5,076,380 338,098,172 Balance at end of period $ 78,181,702 $ 23,938,671 $ 103,256,875 $ 103,562,173 $ 31,835,341 $ 5,094,754 $ 345,869,516 December 31, 2017 Commercial, Financial, and Agricultural Construction Real Estate Commercial Real Estate Residential Real Estate Agricultural Real Estate Consumer and Other Total Allowance for loan losses: Beginning balance, December 31, 2016 $ 191,267 $ 1,043,083 $ 1,192,098 $ 420,189 $ 86,656 $ 191,318 $ 3,124,611 Charge-offs 113,334 0 168,717 59,764 93,503 12,429 447,747 Recoveries 63,486 0 0 0 0 3,282 66,768 Net charge-offs 49,848 0 168,717 59,764 93,503 9,147 380,979 Provisions charged to operations 182,841 0 33,214 56,049 18,407 9,489 300,000 Balance at end of period, December 31, 2017 $ 324,260 $ 1,043,083 $ 1,056,595 $ 416,474 $ 11,560 $ 191,660 $ 3,043,632 Ending balance - Individually evaluated for impairment $ 44,468 $ 0 $ 57,403 $ 224,916 $ 0 $ 4,992 $ 331,779 Collectively evaluated for impairment 279,792 1,043,083 999,192 191,558 11,560 186,668 2,711,853 Balance at end of period $ 324,260 $ 1,043,083 $ 1,056,595 $ 416,474 $ 11,560 $ 191,660 $ 3,043,632 Loans : Ending balance - Individually evaluated for impairment $ 459,003 $ 428,799 $ 4,561,198 $ 2,448,531 $ 142,966 $ 21,815 $ 8,062,312 Collectively evaluated for impairment 72,687,394 21,858,213 101,897,144 96,711,076 25,230,655 3,744,517 322,128,999 Balance at end of period $ 73,146,397 $ 22,287,012 $ 106,458,342 $ 99,159,607 $ 25,373,621 $ 3,766,332 $ 330,191,311

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Maximum FDIC insured amount	$ 250,000	$ 250,000
Uninsured deposits	7,343	7,343
Bank property held for sale	211,500	211,500	$ 211,500
Allowance for foreclosed asset losses		0
Foreclosed assets	37,605	37,605	758,878
Bank owned life insurance policies	$ 6,635,557	$ 6,635,557	$ 6,553,318
Bank owned life insurance policies, stockholders equity, percentage	15.80%	15.80%	15.90%
Advertising expense	$ 66,646	$ 117,547
Minimum requirement of common equity Tier 1 risk-based capital ratio	4.50%	4.50%
Tier 1 risk-based capital ratio	6.00%	6.00%
Previous minimum requirement of Tier 1 risk-based capital ratio	4.00%	4.00%
Risk-based capital ratio	8.00%	8.00%
Tier 1 leverage ratio	4.00%	4.00%
Maximum [Member]
Remaining life of intangible useful life		1 year
Total consolidated assets	$ 1,000,000,000	$ 1,000,000,000

Summary of Significant Accoun17

Summary of Significant Accounting Policies - Schedule of Estimated Useful Lives of Premises and Equipment (Details)	6 Months Ended
	Jun. 30, 2018
Land Improvements [Member] | Minimum [Member]
Estimated useful lives	5 years
Land Improvements [Member] | Maximum [Member]
Estimated useful lives	31 years
Building and Improvements [Member] | Minimum [Member]
Estimated useful lives	10 years
Building and Improvements [Member] | Maximum [Member]
Estimated useful lives	40 years
Machinery and Equipment [Member] | Minimum [Member]
Estimated useful lives	5 years
Machinery and Equipment [Member] | Maximum [Member]
Estimated useful lives	10 years
Computer Equipment [Member] | Minimum [Member]
Estimated useful lives	3 years
Computer Equipment [Member] | Maximum [Member]
Estimated useful lives	5 years
Office Furniture and Fixtures [ Member] | Minimum [Member]
Estimated useful lives	5 years
Office Furniture and Fixtures [ Member] | Maximum [Member]
Estimated useful lives	10 years

Fair Value Measurements (Detail

Fair Value Measurements (Details Narrative)	Jun. 30, 2018
Minimum [Member]
Percentage of estimated selling cost range	15.00%
Percentage of nonaccrual impaired loan write down range	80.00%
Maximum [Member]
Percentage of estimated selling cost range	20.00%
Percentage of nonaccrual impaired loan write down range	85.00%

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets Recorded at Fair Value on a Recurring Basis (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
U.S. government treasury securities	$ 937,150	$ 967,770
U.S. government agency securities	45,763,966	43,860,090
State and municipal securities	7,366,009	7,573,689
Residential mortgage-backed securities	5,214,266	1,861,712
Total	59,281,391	54,263,261
Level 1 [Member]
U.S. government treasury securities	937,150	967,770
U.S. government agency securities	0	0
State and municipal securities	0	0
Residential mortgage-backed securities	0	0
Total	937,150	967,770
Level 2 [Member]
U.S. government treasury securities	0	0
U.S. government agency securities	45,763,966	43,860,090
State and municipal securities	7,366,009	7,573,689
Residential mortgage-backed securities	5,214,266	1,861,712
Total	58,344,241	53,295,491
Level 3 [Member]
U.S. government treasury securities	0	0
U.S. government agency securities	0	0
State and municipal securities	0	0
Residential mortgage-backed securities	0	0
Total	$ 0	$ 0

Fair Value Measurements - Sch20

Fair Value Measurements - Schedule of Fair Value of Assets Recorded on a Nonrecurring Basis (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Foreclosed assets	$ 37,605	$ 758,878
Impaired loans	4,696,044	4,563,951
Total assets at fair value	4,733,649	5,322,829
Level 1 [Member]
Foreclosed assets	0	0
Impaired loans	0	0
Total assets at fair value	0	0
Level 2 [Member]
Foreclosed assets	0	0
Impaired loans	0	0
Total assets at fair value	0	0
Level 3 [Member]
Foreclosed assets	37,605	758,878
Impaired loans	4,696,044	4,563,951
Total assets at fair value	$ 4,743,649	$ 5,322,829

Fair Value Measurements - Sch21

Fair Value Measurements - Schedule of Carrying and Estimated Fair Value of Assets and Liabilities Recorded at Fair Value (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Cash and cash equivalents	$ 35,078,432	$ 34,138,421	$ 16,094,815	$ 26,519,916
Certificates of deposit in other banks	1,985,000	1,985,000
Investment securities available for sale	59,281,391	54,263,261
Investment securities held to maturity	41,354,902	45,147,800
Federal Home Loan Bank stock	2,474,800	2,438,200
Loans, net	336,897,000	325,248,000
Bank owned life insurance	6,635,557	6,553,318
Deposits	415,614,000	397,331,000
Federal Home Loan Bank advances	46,328,000	46,658,000
Level 1 [Member]
Cash and cash equivalents	35,078,000	34,138,000
Certificates of deposit in other banks	1,985,000	1,985,000
Investment securities available for sale	937,000	968,000
Investment securities held to maturity	0	0
Federal Home Loan Bank stock	0	0
Loans, net	0	0
Bank owned life insurance	0	0
Deposits	0	0
Federal Home Loan Bank advances	0	0
Level 2 [Member]
Cash and cash equivalents	0	0
Certificates of deposit in other banks	0	0
Investment securities available for sale	58,344,000	53,295,000
Investment securities held to maturity	41,355,000	45,148,000
Federal Home Loan Bank stock	2,475,000	2,438,000
Loans, net	332,201,000	320,684,000
Bank owned life insurance	6,636,000	6,553,000
Deposits	415,614,000	397,331,000
Federal Home Loan Bank advances	46,328,000	46,658,000
Level 3 [Member]
Cash and cash equivalents	0	0
Certificates of deposit in other banks	0	0
Investment securities available for sale	0	0
Investment securities held to maturity	0	0
Federal Home Loan Bank stock	0	0
Loans, net	4,696,000	4,564,000
Bank owned life insurance	0	0
Deposits	0	0
Federal Home Loan Bank advances	0	0
Carrying Amount [Member]
Cash and cash equivalents	35,078,000	34,138,000
Certificates of deposit in other banks	1,985,000	1,985,000
Investment securities available for sale	59,281,000	54,263,000
Investment securities held to maturity	41,189,000	44,591,000
Federal Home Loan Bank stock	2,475,000	2,438,000
Loans, net	342,659,000	327,130,000
Bank owned life insurance	6,636,000	6,553,000
Deposits	415,436,000	397,006,000
Federal Home Loan Bank advances	$ 47,029,000	$ 47,029,000

Investment Securities (Details

Investment Securities (Details Narrative)	3 Months Ended		6 Months Ended
	Jun. 30, 2018USD ($)Integer	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)Integer	Jun. 30, 2017USD ($)
Schedule of Investments [Abstract]
Sales of held to maturity securities | $	$ 0	$ 0	$ 0	$ 0
Available-for-sale securities, number of debt securities | Integer	96		96
Percentage of debt securities unrealized losses depreciated on amortized cost basis	2.60%		2.60%

Investment Securities - Schedul

Investment Securities - Schedule of Securities Available for Sale (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Amortized Cost	$ 60,542,949	$ 54,253,823
Unrealized Gains	166,260	761,248
Unrealized Losses	1,427,818	751,810
Total Estimated Fair Value	59,281,391	54,263,261
U.S. Government Treasury Securities [Member]
Amortized Cost	981,003	979,983
Unrealized Gains	0	0
Unrealized Losses	43,853	12,213
Total Estimated Fair Value	937,150	967,770
U.S. Government Agency Securities [Member]
Amortized Cost	46,898,058	43,978,023
Unrealized Gains	132,172	580,366
Unrealized Losses	1,266,264	698,299
Total Estimated Fair Value	45,763,966	43,860,090
State and Municipal Securities [Member]
Amortized Cost	7,439,068	7,482,912
Unrealized Gains	7,832	129,231
Unrealized Losses	80,891	38,454
Total Estimated Fair Value	7,366,009	7,573,689
Residential Mortgage-Backed Securities [Member]
Amortized Cost	5,224,820	1,812,905
Unrealized Gains	26,256	51,651
Unrealized Losses	36,810	2,844
Total Estimated Fair Value	$ 5,214,266	$ 1,861,712

Investment Securities - Sched24

Investment Securities - Schedule of Securities Held to Maturity (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Amortized Cost	$ 41,188,852	$ 44,590,841
Unrealized Gains	293,356	605,174
Unrealized Losses	127,306	48,215
Estimated Fair Value	41,354,902	45,147,800
State and Municipal Securities [Member]
Amortized Cost	38,464,151	41,447,092
Unrealized Gains	254,885	527,632
Unrealized Losses	113,763	48,083
Estimated Fair Value	38,605,273	41,926,641
Residential Mortgage-Backed Securities [Member]
Amortized Cost	2,724,701	3,143,749
Unrealized Gains	38,471	77,542
Unrealized Losses	13,543	132
Estimated Fair Value	$ 2,749,629	$ 3,221,159

Investment Securities - Summary

Investment Securities - Summary of Amortized Cost and Estimated Fair Value of Debt Securities (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Schedule of Investments [Abstract]
Available for Sale Amounts maturing in One year or less, Amortized Cost	$ 0	$ 0
Available for Sale Amounts maturing in After one through five years, Amortized Cost	22,800,358	15,437,594
Available for Sale Amounts maturing in After five through ten years, Amortized Cost	31,901,853	35,610,754
Available for Sale Amounts maturing in After ten years, Amortized Cost	5,840,738	3,205,475
Total debt securities AFS, Amortized Cost	60,542,949	54,253,823
Available for Sale Amounts maturing in One year or less, Estimated Fair Value	0	0
Available for Sale Amounts maturing in After one through five years, Estimated Fair Value	22,655,959	15,556,274
Available for Sale Amounts maturing in After five through ten years, Estimated Fair Value	30,803,677	35,441,617
Available for Sale Amounts maturing in After ten years, Estimated Fair Value	5,821,755	3,265,370
Total debt securities AFS, Estimated Fair Value	59,281,391	54,263,261
Held to Maturity Amounts maturing in One year or less, Amortized Cost	10,960,234	9,812,609
Held to Maturity Amounts maturing in After one through five years, Amortized Cost	16,042,915	19,467,142
Held to Maturity Amounts maturing in After five through ten years, Amortized Cost	11,635,793	12,546,856
Held to Maturity Amounts maturing in After ten years, Amortized Cost	2,549,910	2,764,234
Total securities HTM, Amortized Cost	41,188,852	44,590,841
Held to Maturity Amounts maturing in One year or less, Estimated Fair Value	10,992,480	9,821,948
Held to Maturity Amounts maturing in After one through five years, Estimated Fair Value	16,168,889	19,680,375
Held to Maturity Amounts maturing in After five through ten years, Estimated Fair Value	11,651,316	12,806,108
Held to Maturity Amounts maturing in After ten years, Estimated Fair Value	2,542,217	2,839,369
Total securities HTM, Estimated Fair Value	$ 41,354,902	$ 45,147,800

Investment Securities - Sched26

Investment Securities - Schedule of Activity of Security Sales by Intention (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Investment Securities - Schedule Of Activity Of Security Sales By Intention
Proceeds from sale of available-for-sale securities	$ 0	$ 2,540,000	$ 0	$ 2,676,211
Gross gains on sale of available-for-sale securities	0	42,604	0	166,815
Gross losses on sale of available-for-sale securities	0	0	0	0
Net gains on sales of available for sale securities	$ 0	$ 42,604	$ 0	$ 166,815

Investment Securities - Sched27

Investment Securities - Schedule of Information Pertaining to Securities Gross Unrealized Losses by Investments (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Less Than Twelve Months, Gross Unrealized Losses	$ 327,862	$ 63,132
Less Than Twelve Months, Fair Value	23,152,789	6,932,300
Twelve Months or More, Gross Unrealized Losses	1,099,956	688,678
Twelve Months or More, Fair Value	18,896,479	19,413,318
Less Than Twelve Months, Gross Unrealized Losses	76,860	16,086
Less Than Twelve Months, Fair Value	15,742,355	5,667,646
Twelve Months or More, Gross Unrealized Losses	50,446	32,129
Twelve Months or More, Fair Value	1,257,836	1,281,797
U.S. Government Treasury Securities [Member]
Less Than Twelve Months, Gross Unrealized Losses	43,853	12,213
Less Than Twelve Months, Fair Value	937,150	967,770
Twelve Months or More, Gross Unrealized Losses	0	0
Twelve Months or More, Fair Value	0	0
U.S. Government Agency Securities [Member]
Less Than Twelve Months, Gross Unrealized Losses	200,948	34,083
Less Than Twelve Months, Fair Value	14,494,684	4,988,630
Twelve Months or More, Gross Unrealized Losses	1,065,316	664,216
Twelve Months or More, Fair Value	17,884,362	18,347,439
State and Municipal Securities [Member]
Less Than Twelve Months, Gross Unrealized Losses	51,139	16,836
Less Than Twelve Months, Fair Value	3,263,884	975,900
Twelve Months or More, Gross Unrealized Losses	29,752	21,618
Twelve Months or More, Fair Value	860,805	877,798
Less Than Twelve Months, Gross Unrealized Losses	63,317	15,954
Less Than Twelve Months, Fair Value	14,656,107	5,521,443
Twelve Months or More, Gross Unrealized Losses	50,446	32,129
Twelve Months or More, Fair Value	1,257,836	1,281,797
Residential Mortgage-Backed Securities [Member]
Less Than Twelve Months, Gross Unrealized Losses	31,922	0
Less Than Twelve Months, Fair Value	4,457,071	0
Twelve Months or More, Gross Unrealized Losses	4,888	2,844
Twelve Months or More, Fair Value	151,312	188,081
Less Than Twelve Months, Gross Unrealized Losses	13,543	132
Less Than Twelve Months, Fair Value	1,086,248	146,203
Twelve Months or More, Gross Unrealized Losses	0	0
Twelve Months or More, Fair Value	$ 0	$ 0

Loans and Allowance for Loan 28

Loans and Allowance for Loan Losses (Details Narrative) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Receivables [Abstract]
Real estate loans	$ 262,593,060		$ 253,278,582
Loans pledged	117,500,925
Loans placed on nonaccrual status amount	1,719,623		1,674,656
Past due loan over 90 days and still accruing	0		0
Interest income on nonaccrual	63,091		41,496
Impaired loans	5,259,520		4,895,730
Allowance for loan losses	563,476		331,779
Average impaired loans		$ 3,476,225
Interest income received during impairment		$ 140,026
Troubled debt restructuring	2,648		4,243
Troubled debt restructuring, charge -off	0		0
Allowance for loan losses allocated to TDRs	$ 0		$ 0
Annualized net charge-offs to average loans outstanding ratio	0.12%		0.12%
Individually evaluated for impairment	$ 7,771,344		$ 8,062,312
Deemed impaired loans	$ 5,259,520		$ 4,895,730

Loans and Allowance for Loan 29

Loans and Allowance for Loan Losses - Schedule of Loan Portfolio and Percentage of Loans in Each Category to Total Loans (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Loans outstanding	$ 345,869,516	$ 330,191,311
Unearned interest and discount	(17,516)	(17,921)
Allowance for loan losses	(3,192,697)	(3,043,632)
Net loans	$ 342,659,303	$ 327,129,758
Percentage of loan and allowance for loan losses	100.00%	100.00%
Commercial, Financial and Agricultural Loans [Member]
Loans outstanding	$ 78,181,702	$ 73,146,397
Percentage of loan and allowance for loan losses	22.60%	22.20%
Construction Loans [Member]
Loans outstanding	$ 23,938,671	$ 22,287,012
Percentage of loan and allowance for loan losses	6.90%	6.80%
Commercial Mortgage Loans [Member]
Loans outstanding	$ 103,256,875	$ 106,458,342
Percentage of loan and allowance for loan losses	29.90%	32.20%
Residential Loans [Member]
Loans outstanding	$ 103,562,173	$ 99,159,607
Percentage of loan and allowance for loan losses	29.90%	30.00%
Agricultural Loans [Member]
Loans outstanding	$ 31,835,341	$ 25,373,621
Percentage of loan and allowance for loan losses	9.20%	7.70%
Consumer and Other Loans [Member]
Loans outstanding	$ 5,094,754	$ 3,766,332
Percentage of loan and allowance for loan losses	1.50%	1.10%

Loans and Allowance for Loan 30

Loans and Allowance for Loan Losses - Summary of Maturities of Loan Portfolio (Details) - Commercial Financial, Agricultural And Construction [Member]	Jun. 30, 2018USD ($)
In one year or less	$ 26,149,959
After one year but within five years	51,905,582
After five years	24,064,832
Total	$ 102,120,373

Loans and Allowance for Loan 31

Loans and Allowance for Loan Losses - Summary of Loans Due after One Year (Details) - Commercial Financial, Agricultural And Construction [Member]	Jun. 30, 2018USD ($)
Loans With Predetermined Rates	$ 72,442,500
Loans With Floating Rates	3,527,914
Total	$ 75,970,414

Loans and Allowance for Loan 32

Loans and Allowance for Loan Losses - Schedule of Past Due Loans and Nonaccrual Loans (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Total Past Due Loans	$ 2,106,700	$ 3,262,152
Nonaccrual Loans	1,719,623	1,674,656
Current Loans	342,043,193	325,254,503
Total Loans	345,869,516	330,191,311
Financing Receivables, 30 to 89 Days Past Due [Member]
Total Past Due Loans	2,106,700	3,262,152
Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Total Past Due Loans	0	0
Commercial, Financial and Agricultural Loans [Member]
Total Past Due Loans	752,019	364,527
Nonaccrual Loans	481,448	394,455
Current Loans	76,948,235	72,387,415
Total Loans	78,181,702	73,146,397
Commercial, Financial and Agricultural Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member]
Total Past Due Loans	752,019	364,527
Commercial, Financial and Agricultural Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Total Past Due Loans	0	0
Construction Loans [Member]
Total Past Due Loans	389,654	198,861
Nonaccrual Loans	0	0
Current Loans	23,549,017	22,088,151
Total Loans	23,938,671	22,287,012
Construction Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member]
Total Past Due Loans	389,654	198,861
Construction Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Total Past Due Loans	0	0
Commercial Mortgage Loans [Member]
Total Past Due Loans	582,416	645,214
Nonaccrual Loans	1,153,804	757,085
Current Loans	101,520,655	105,056,043
Total Loans	103,256,875	106,458,342
Commercial Mortgage Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member]
Total Past Due Loans	582,416	645,214
Commercial Mortgage Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Total Past Due Loans	0	0
Residential Loans [Member]
Total Past Due Loans	351,938	2,023,517
Nonaccrual Loans	81,436	518,301
Current Loans	103,128,799	96,617,789
Total Loans	103,562,173	99,159,607
Residential Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member]
Total Past Due Loans	351,938	2,023,517
Residential Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Total Past Due Loans	0	0
Agricultural Loans [Member]
Total Past Due Loans	0	0
Nonaccrual Loans	0	0
Current Loans	31,835,341	25,373,621
Total Loans	31,835,341	25,373,621
Agricultural Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member]
Total Past Due Loans	0	0
Agricultural Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Total Past Due Loans	0	0
Consumer and Other Loans [Member]
Total Past Due Loans	30,673	30,033
Nonaccrual Loans	2,935	4,815
Current Loans	5,061,146	3,731,484
Total Loans	5,094,754	3,766,332
Consumer and Other Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member]
Total Past Due Loans	30,673	30,033
Consumer and Other Loans [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member]
Total Past Due Loans	$ 0	$ 0

Loans and Allowance for Loan 33

Loans and Allowance for Loan Losses - Schedule of Impaired Loans Segregated by Class of Loans (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Unpaid Principal Balance	$ 5,771,251	$ 5,265,922
Recorded Investment With No Allowance	3,534,026	2,204,527
Recorded Investment With Allowance	1,725,494	2,691,203
Total Recorded Investment	5,259,520	4,895,730
Related Allowance	563,476	331,779
Year-to-date Average Recorded Investment	4,434,451	3,789,822
Interest Income Received During Impairment	125,729	207,180
Commercial, Financial and Agricultural Loans [Member]
Unpaid Principal Balance	1,235,050	459,003
Recorded Investment With No Allowance	427,276	208,032
Recorded Investment With Allowance	606,472	250,971
Total Recorded Investment	1,033,748	459,003
Related Allowance	306,543	44,468
Year-to-date Average Recorded Investment	509,358	169,930
Interest Income Received During Impairment	12,446	10,920
Construction Loans [Member]
Unpaid Principal Balance	420,625	549,599
Recorded Investment With No Allowance	299,825	428,799
Recorded Investment With Allowance	0	0
Total Recorded Investment	299,825	428,799
Related Allowance	0	0
Year-to-date Average Recorded Investment	299,825	162,698
Interest Income Received During Impairment	12,896	24,487
Commercial Mortgage Loans [Member]
Unpaid Principal Balance	2,003,797	1,615,811
Recorded Investment With No Allowance	1,497,705	1,107,654
Recorded Investment With Allowance	337,375	339,440
Total Recorded Investment	1,835,080	1,447,094
Related Allowance	55,338	57,403
Year-to-date Average Recorded Investment	1,573,756	1,071,663
Interest Income Received During Impairment	24,533	54,582
Residential Loans [Member]
Unpaid Principal Balance	1,956,522	2,476,728
Recorded Investment With No Allowance	1,172,306	316,230
Recorded Investment With Allowance	763,304	2,079,823
Total Recorded Investment	1,935,610	2,396,053
Related Allowance	199,229	224,916
Year-to-date Average Recorded Investment	1,896,255	2,233,562
Interest Income Received During Impairment	71,510	108,472
Agricultural Loans [Member]
Unpaid Principal Balance	136,883	142,966
Recorded Investment With No Allowance	136,883	142,966
Recorded Investment With Allowance	0	0
Total Recorded Investment	136,883	142,966
Related Allowance	0	0
Year-to-date Average Recorded Investment	136,883	142,966
Interest Income Received During Impairment	3,523	8,198
Consumer and Other Loans [Member]
Unpaid Principal Balance	18,374	21,815
Recorded Investment With No Allowance	31	846
Recorded Investment With Allowance	18,343	20,969
Total Recorded Investment	18,374	21,815
Related Allowance	2,366	4,992
Year-to-date Average Recorded Investment	18,374	9,003
Interest Income Received During Impairment	$ 821	$ 521

Loans and Allowance for Loan 34

Loans and Allowance for Loan Losses - Schedule of Troubled Debt Restructuring by Loan Class (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Troubled Debt Restructuring	$ 2,648	$ 4,243
Current [Member]
Troubled Debt Restructuring	2,648	4,243
Default [Member]
Troubled Debt Restructuring	0	0
Accruing [Member]
Troubled Debt Restructuring	2,648	4,243
Non-accruing [Member]
Troubled Debt Restructuring	0	0
Commercial, Financial and Agricultural Loans [Member] | Current [Member]
Troubled Debt Restructuring	0	0
Commercial, Financial and Agricultural Loans [Member] | Default [Member]
Troubled Debt Restructuring	0	0
Commercial, Financial and Agricultural Loans [Member] | Accruing [Member]
Troubled Debt Restructuring	0	0
Commercial, Financial and Agricultural Loans [Member] | Non-accruing [Member]
Troubled Debt Restructuring	0	0
Construction Loans [Member] | Current [Member]
Troubled Debt Restructuring	0	0
Construction Loans [Member] | Default [Member]
Troubled Debt Restructuring	0	0
Construction Loans [Member] | Accruing [Member]
Troubled Debt Restructuring	0	0
Construction Loans [Member] | Non-accruing [Member]
Troubled Debt Restructuring	0	0
Commercial Mortgage Loans [Member] | Current [Member]
Troubled Debt Restructuring	0	0
Commercial Mortgage Loans [Member] | Default [Member]
Troubled Debt Restructuring	0	0
Commercial Mortgage Loans [Member] | Accruing [Member]
Troubled Debt Restructuring	0	0
Commercial Mortgage Loans [Member] | Non-accruing [Member]
Troubled Debt Restructuring	0	0
Residential Loans [Member] | Current [Member]
Troubled Debt Restructuring	2,617	3,397
Residential Loans [Member] | Default [Member]
Troubled Debt Restructuring	0	0
Residential Loans [Member] | Accruing [Member]
Troubled Debt Restructuring	2,617	3,397
Residential Loans [Member] | Non-accruing [Member]
Troubled Debt Restructuring	0	0
Agricultural Loans [Member] | Current [Member]
Troubled Debt Restructuring	0	0
Agricultural Loans [Member] | Default [Member]
Troubled Debt Restructuring	0	0
Agricultural Loans [Member] | Accruing [Member]
Troubled Debt Restructuring	0	0
Agricultural Loans [Member] | Non-accruing [Member]
Troubled Debt Restructuring	0	0
Consumer and Other Loans [Member] | Current [Member]
Troubled Debt Restructuring	31	846
Consumer and Other Loans [Member] | Default [Member]
Troubled Debt Restructuring	0	0
Consumer and Other Loans [Member] | Accruing [Member]
Troubled Debt Restructuring	31	846
Consumer and Other Loans [Member] | Non-accruing [Member]
Troubled Debt Restructuring	$ 0	$ 0

Loans and Allowance for Loan 35

Loans and Allowance for Loan Losses - Schedule of Troubled Debt Restructurings By Types of Concessions Made (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Accruing [Member]
Payment modification	$ 0	$ 0
Rate reduction	0	0
Rate reduction, payment modification	2,648	4,243
Forbearance of interest	0	0
Total	2,648	4,243
Non-accruing [Member]
Payment modification	0	0
Rate reduction	0	0
Rate reduction, payment modification	0	0
Forbearance of interest	0	0
Total	$ 0	$ 0

Loans and Allowance for Loan 36

Loans and Allowance for Loan Losses - Schedule of Internal Loan Grading by Class of Loans (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Total Loans	$ 345,869,516	$ 330,191,311
Commercial, Financial and Agricultural Loans [Member]
Total Loans	78,181,702	73,146,397
Construction Loans [Member]
Total Loans	23,938,671	22,287,012
Commercial Mortgage Loans [Member]
Total Loans	103,256,875	106,458,342
Residential Loans [Member]
Total Loans	103,562,173	99,159,607
Agricultural Loans [Member]
Total Loans	31,835,341	25,373,621
Consumer and Other Loans [Member]
Total Loans	5,094,754	3,766,332
Rating, Grade 1- Exceptional [Member]
Total Loans	1,389,745	1,720,290
Rating, Grade 1- Exceptional [Member] | Commercial, Financial and Agricultural Loans [Member]
Total Loans	1,097,426	1,371,135
Rating, Grade 1- Exceptional [Member] | Construction Loans [Member]
Total Loans	0	0
Rating, Grade 1- Exceptional [Member] | Commercial Mortgage Loans [Member]
Total Loans	0	0
Rating, Grade 1- Exceptional [Member] | Residential Loans [Member]
Total Loans	23,413	23,919
Rating, Grade 1- Exceptional [Member] | Agricultural Loans [Member]
Total Loans	0	0
Rating, Grade 1- Exceptional [Member] | Consumer and Other Loans [Member]
Total Loans	268,906	325,236
Rating, Grade 2- Above Avg. [Member]
Total Loans	44,523	51,421
Rating, Grade 2- Above Avg. [Member] | Commercial, Financial and Agricultural Loans [Member]
Total Loans	0	0
Rating, Grade 2- Above Avg. [Member] | Construction Loans [Member]
Total Loans	0	0
Rating, Grade 2- Above Avg. [Member] | Commercial Mortgage Loans [Member]
Total Loans	0	0
Rating, Grade 2- Above Avg. [Member] | Residential Loans [Member]
Total Loans	0	0
Rating, Grade 2- Above Avg. [Member] | Agricultural Loans [Member]
Total Loans	0	0
Rating, Grade 2- Above Avg. [Member] | Consumer and Other Loans [Member]
Total Loans	44,523	51,421
Rating, Grade 3- Acceptable [Member]
Total Loans	96,198,143	97,442,348
Rating, Grade 3- Acceptable [Member] | Commercial, Financial and Agricultural Loans [Member]
Total Loans	26,032,845	27,024,359
Rating, Grade 3- Acceptable [Member] | Construction Loans [Member]
Total Loans	2,447,663	2,085,620
Rating, Grade 3- Acceptable [Member] | Commercial Mortgage Loans [Member]
Total Loans	28,502,586	30,090,030
Rating, Grade 3- Acceptable [Member] | Residential Loans [Member]
Total Loans	25,852,885	26,304,640
Rating, Grade 3- Acceptable [Member] | Agricultural Loans [Member]
Total Loans	12,058,971	11,071,244
Rating, Grade 3- Acceptable [Member] | Consumer and Other Loans [Member]
Total Loans	1,303,193	866,455
Rating, Grade 4- Fair [Member]
Total Loans	231,921,769	217,491,441
Rating, Grade 4- Fair [Member] | Commercial, Financial and Agricultural Loans [Member]
Total Loans	45,475,568	42,821,117
Rating, Grade 4- Fair [Member] | Construction Loans [Member]
Total Loans	21,191,183	19,772,593
Rating, Grade 4- Fair [Member] | Commercial Mortgage Loans [Member]
Total Loans	69,526,437	70,518,545
Rating, Grade 4- Fair [Member] | Residential Loans [Member]
Total Loans	72,985,670	68,103,351
Rating, Grade 4- Fair [Member] | Agricultural Loans [Member]
Total Loans	19,306,808	13,781,326
Rating, Grade 4- Fair [Member] | Consumer and Other Loans [Member]
Total Loans	3,436,103	2,494,509
Rating, Grade 5a- Watch [Member]
Total Loans	2,148,357	1,952,751
Rating, Grade 5a- Watch [Member] | Commercial, Financial and Agricultural Loans [Member]
Total Loans	655,512	120,626
Rating, Grade 5a- Watch [Member] | Construction Loans [Member]
Total Loans	0	0
Rating, Grade 5a- Watch [Member] | Commercial Mortgage Loans [Member]
Total Loans	483,434	1,027,581
Rating, Grade 5a- Watch [Member] | Residential Loans [Member]
Total Loans	990,978	757,628
Rating, Grade 5a- Watch [Member] | Agricultural Loans [Member]
Total Loans	0	39,344
Rating, Grade 5a- Watch [Member] | Consumer and Other Loans [Member]
Total Loans	18,433	7,572
Rating, Grade 5b- OAEM [Member]
Total Loans	5,159,099	5,197,060
Rating, Grade 5b- OAEM [Member] | Commercial, Financial and Agricultural Loans [Member]
Total Loans	3,214,477	557,070
Rating, Grade 5b- OAEM [Member] | Construction Loans [Member]
Total Loans	0	0
Rating, Grade 5b- OAEM [Member] | Commercial Mortgage Loans [Member]
Total Loans	488,733	3,073,051
Rating, Grade 5b- OAEM [Member] | Residential Loans [Member]
Total Loans	1,123,179	1,226,841
Rating, Grade 5b- OAEM [Member] | Agricultural Loans [Member]
Total Loans	332,679	338,741
Rating, Grade 5b- OAEM [Member] | Consumer and Other Loans [Member]
Total Loans	31	1,357
Rating, Grade 6- Substandard [Member]
Total Loans	8,502,287	6,029,148
Rating, Grade 6- Substandard [Member] | Commercial, Financial and Agricultural Loans [Member]
Total Loans	1,200,281	945,238
Rating, Grade 6- Substandard [Member] | Construction Loans [Member]
Total Loans	299,825	428,799
Rating, Grade 6- Substandard [Member] | Commercial Mortgage Loans [Member]
Total Loans	4,255,685	1,749,135
Rating, Grade 6- Substandard [Member] | Residential Loans [Member]
Total Loans	2,586,048	2,743,228
Rating, Grade 6- Substandard [Member] | Agricultural Loans [Member]
Total Loans	136,883	142,966
Rating, Grade 6- Substandard [Member] | Consumer and Other Loans [Member]
Total Loans	23,565	19,782
Rating, Grade 7- Doubtful [Member]
Total Loans	505,593	306,852
Rating, Grade 7- Doubtful [Member] | Commercial, Financial and Agricultural Loans [Member]
Total Loans	505,593	306,852
Rating, Grade 7- Doubtful [Member] | Construction Loans [Member]
Total Loans	0	0
Rating, Grade 7- Doubtful [Member] | Commercial Mortgage Loans [Member]
Total Loans	0	0
Rating, Grade 7- Doubtful [Member] | Residential Loans [Member]
Total Loans	0	0
Rating, Grade 7- Doubtful [Member] | Agricultural Loans [Member]
Total Loans	0	0
Rating, Grade 7- Doubtful [Member] | Consumer and Other Loans [Member]
Total Loans	$ 0	$ 0

Loans and Allowance for Loan 37

Loans and Allowance for Loan Losses - Schedule of Allowance for Loan Losses Methodology (Details) - USD ($)	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Beginning balance	$ 3,170,409	$ 3,043,632	$ 3,124,611
Charge-offs	122,175	216,521	447,747
Recoveries	4,463	10,086	66,768
Net charge-offs	117,712	206,435	380,979
Provisions charged to operations	140,000	355,500	300,000
Individually evaluated for impairment	563,476	563,476	331,779
Collectively evaluated for impairment	2,629,221	2,629,221	2,711,853
Balance at end of period	3,192,697	3,192,697	3,043,632
Individually evaluated for impairment	7,771,344	7,771,344	8,062,312
Collectively evaluated for impairment	338,098,172	338,098,172	322,128,999
Balance at end of period	345,869,516	345,869,516	330,191,311
Commercial, Financial And Agricultural [Member]
Beginning balance	291,991	324,260	191,267
Charge-offs	122,175	208,829	113,334
Recoveries	1,653	7,276	63,486
Net charge-offs	120,522	201,553	49,848
Provisions charged to operations	266,192	314,954	182,841
Individually evaluated for impairment	306,543	306,543	44,468
Collectively evaluated for impairment	131,118	131,118	279,792
Balance at end of period	437,661	437,661	324,260
Individually evaluated for impairment	1,033,748	1,033,748	459,003
Collectively evaluated for impairment	77,147,954	77,147,954	72,687,394
Balance at end of period	78,181,702	78,181,702	73,146,397
Construction Real Estate [Member]
Beginning balance	1,042,691	1,043,083	1,043,083
Charge-offs	0	783	0
Recoveries	0	0	0
Net charge-offs	0	783	0
Provisions charged to operations	(104,001)	(103,610)	0
Individually evaluated for impairment	0	0	0
Collectively evaluated for impairment	938,690	938,690	1,043,083
Balance at end of period	938,690	938,690	1,043,083
Individually evaluated for impairment	299,825	299,825	428,799
Collectively evaluated for impairment	23,638,846	23,638,846	21,858,213
Balance at end of period	23,938,671	23,938,671	22,287,012
Commercial Real Estate [Member]
Beginning balance	1,140,773	1,056,595	1,192,098
Charge-offs	0	0	168,717
Recoveries	0	0	0
Net charge-offs	0	0	168,717
Provisions charged to operations	(56,296)	27,882	33,214
Individually evaluated for impairment	55,338	55,338	57,403
Collectively evaluated for impairment	1,029,139	1,029,139	999,192
Balance at end of period	1,084,477	1,084,477	1,056,595
Individually evaluated for impairment	4,211,744	4,211,744	4,561,198
Collectively evaluated for impairment	99,045,131	99,045,131	101,897,144
Balance at end of period	103,256,875	103,256,875	106,458,342
Residential Real Estate [Member]
Beginning balance	442,830	416,474	420,189
Charge-offs	0	6,909	59,764
Recoveries	0	0	0
Net charge-offs	0	6,909	59,764
Provisions charged to operations	2,366	35,631	56,049
Individually evaluated for impairment	199,229	199,229	224,916
Collectively evaluated for impairment	245,967	245,967	191,558
Balance at end of period	445,196	445,196	416,474
Individually evaluated for impairment	2,070,770	2,070,770	2,448,531
Collectively evaluated for impairment	101,491,403	101,491,403	96,711,076
Balance at end of period	103,562,173	103,562,173	99,159,607
Agricultural Real Estate [Member]
Beginning balance	58,211	11,560	86,656
Charge-offs	0	0	93,503
Recoveries	1,200	1,200	0
Net charge-offs	(1,200)	(1,200)	93,503
Provisions charged to operations	31,611	78,262	18,407
Individually evaluated for impairment	0	0	0
Collectively evaluated for impairment	91,022	91,022	11,560
Balance at end of period	91,022	91,022	11,560
Individually evaluated for impairment	136,883	136,883	142,966
Collectively evaluated for impairment	31,698,458	31,698,458	25,230,655
Balance at end of period	31,835,341	31,835,341	25,373,621
Consumer and Other [Member]
Beginning balance	193,913	191,660	191,318
Charge-offs	0	0	12,429
Recoveries	1,610	1,610	3,282
Net charge-offs	(1,610)	(1,610)	9,147
Provisions charged to operations	128	2,381	9,489
Individually evaluated for impairment	2,366	2,366	4,992
Collectively evaluated for impairment	193,285	193,285	186,668
Balance at end of period	195,651	195,651	191,660
Individually evaluated for impairment	18,374	18,374	21,815
Collectively evaluated for impairment	5,076,380	5,076,380	3,744,517
Balance at end of period	$ 5,094,754	$ 5,094,754	$ 3,766,332