Southwest Georgia Financial 10-Q 13 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 07, 2019
Document And Entity Information
Entity Registrant Name	SOUTHWEST GEORGIA FINANCIAL CORP
Entity Central Index Key	0000315849
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,545,776
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2019

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Jun. 30, 2019	Dec. 31, 2018
ASSETS
Cash and due from banks	$ 13,172,962	$ 14,050,682
Interest-bearing deposits in other banks	17,448,914	21,448,110
Cash and cash equivalents	30,621,876	35,498,792
Certificates of deposit in other banks	2,977,000	2,732,000
Investment securities available for sale, at fair value	73,712,634	58,313,577
Investment securities held to maturity (fair value approximates $33,209,979 and $37,010,327)	32,546,072	36,827,073
Federal Home Loan Bank stock, at cost	1,869,900	1,820,300
Total investment securities	108,128,606	96,960,950
Loans	388,285,673	376,767,688
Less: Unearned income	(17,367)	(17,451)
Allowance for loan losses	(3,465,140)	(3,428,869)
Loans, net	384,803,166	373,321,368
Premises and equipment, net	14,263,995	14,573,974
Foreclosed assets	37,605	127,605
Intangible assets	0	3,907
Bank owned life insurance	6,846,072	6,779,242
Other assets	4,796,508	4,835,329
Total assets	552,474,828	534,833,167
Deposits:
Interest bearing business checking	31,308,389	28,070,871
NOW accounts	20,772,381	35,816,115
Money Market	156,449,201	158,730,044
Savings	33,593,374	31,848,588
Certificates of deposit $250,000 and over	27,257,249	16,264,681
Other time accounts	80,967,174	81,214,376
Total interest-bearing deposits	350,347,768	351,944,675
Noninterest-bearing deposits	117,289,695	103,694,910
Total deposits	467,637,463	455,639,585
Short-term borrowed funds	6,314,286	10,457,143
Long-term debt	27,385,714	21,171,429
Other liabilities	4,078,930	3,946,066
Total liabilities	505,416,393	491,214,223
Stockholders' equity:
Common stock - $1 par value, 5,000,000 shares authorized, 2,545,776 shares issued	2,545,776	2,545,776
Capital surplus	18,418,995	18,418,995
Retained earnings	26,757,498	24,841,569
Accumulated other comprehensive loss	(663,834)	(2,187,396)
Total stockholders' equity	47,058,435	43,618,944
Total liabilities and stockholders' equity	$ 552,474,828	$ 534,833,167

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Investment securities held to maturity	$ 33,209,979	$ 37,010,327
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

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Interest income:
Interest and fees on loans	$ 5,327,565	$ 4,471,832	$ 10,448,751	$ 8,765,072
Interest on taxable securities available for sale	373,062	320,337	707,496	608,983
Interest on taxable securities held to maturity	52,613	25,661	106,671	53,808
Interest on tax exempt securities	225,971	279,079	463,742	570,082
Dividends	21,096	35,548	47,953	67,495
Interest on deposits in other banks	129,677	148,177	300,570	266,005
Interest on certificates of deposit in other banks	17,453	11,693	34,300	23,259
Total interest income	6,147,437	5,292,327	12,109,483	10,354,704
Interest expense:
Interest on deposits	974,632	481,273	2,024,938	853,747
Interest on federal funds purchased	6	2	12	8
Interest on other short-term borrowings	37,360	117,525	73,346	233,192
Interest on long-term debt	83,163	126,659	192,586	252,492
Total interest expense	1,095,161	725,459	2,290,882	1,339,439
Net interest income	5,052,276	4,566,868	9,818,601	9,015,265
Provision for loan losses	250,390	140,000	366,298	355,500
Net interest income after provision for loan losses	4,801,886	4,426,868	9,452,303	8,659,765
Noninterest income:
Service charges on deposit accounts	229,841	266,369	467,990	490,959
Income from trust services	55,321	63,018	111,926	121,850
Income from retail brokerage services	87,955	96,793	194,703	185,188
Income from insurance services	456,336	417,177	892,984	805,417
Income from mortgage banking services	0	623	0	1,243
Net gain on sale or disposition of assets	243,830	7,254	244,728	99
Net gain on extinguishment of debt	0	0	143,031	0
Other income	233,983	208,831	488,949	449,713
Total noninterest income	1,307,266	1,060,065	2,544,311	2,054,469
Noninterest expense:
Salaries and employee benefits	2,584,434	2,388,128	5,080,638	4,729,247
Occupancy expense	319,059	294,644	633,569	584,069
Equipment expense	310,549	187,191	618,569	377,460
Data processing expense	405,260	351,117	808,813	704,908
Amortization of intangible assets	0	3,906	3,907	7,812
Other operating expenses	931,176	906,928	1,820,573	1,723,995
Total noninterest expenses	4,550,478	4,131,914	8,966,069	8,127,491
Income before income taxes	1,558,674	1,355,019	3,030,545	2,586,743
Provision for income taxes	260,462	207,332	503,630	206,689
Net income	$ 1,298,212	$ 1,147,687	$ 2,526,915	$ 2,380,054
Earnings per share of common stock:
Net income, basic	$ 0.51	$ 0.45	$ 0.99	$ 0.93
Net income, diluted	0.51	0.45	0.99	0.93
Dividends paid per share	$ 0.12	$ 0.12	$ 0.24	$ 0.23
Weighted average shares outstanding	2,545,776	2,545,776	2,545,776	2,545,351
Diluted average shares outstanding	2,545,776	2,545,776	2,545,776	2,545,351

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 1,298,212	$ 1,147,687	$ 2,526,915	$ 2,380,054
Other comprehensive income (loss), net of tax:
Unrealized holding gain (loss) on investment securities available for sale	1,019,990	(297,127)	1,928,559	(1,270,997)
Less: Tax effect	214,198	(62,397)	404,997	(266,910)
Total other comprehensive income (loss), net of tax	805,792	(234,730)	1,523,562	(1,004,087)
Total comprehensive income	$ 2,104,004	$ 912,957	$ 4,050,477	$ 1,375,967

Consolidated Statement of Chang

Consolidated Statement of Changes in Shareholders' Equity - USD ($)	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Loss [Member]	Treasury Stock [Member]	Total
Balance at Dec. 31, 2017	$ 4,293,835	$ 31,701,533	$ 33,020,030	$ (1,629,619)	$ (26,242,793)	$ 41,142,986
Net Income			2,380,054			2,380,054
Comprehensive income (loss):
Changes in net gain on securities available for sale				(1,004,087)		(1,004,087)
Cash dividend declared per share			(584,876)			(584,876)
Retirement of treasury stock	(1,748,059)	(12,994,133)	(11,500,601)		26,242,793
Balance at Jun. 30, 2018	2,545,776	18,707,400	23,314,607	(2,633,706)		41,934,077
Balance at Mar. 31, 2018	2,545,776	18,707,400	22,471,760	(2,398,975)		41,325,961
Net Income			1,147,687			1,147,687
Comprehensive income (loss):
Changes in net gain on securities available for sale				(234,731)		(234,731)
Cash dividend declared per share			(304,840)			(304,840)
Retirement of treasury stock
Balance at Jun. 30, 2018	2,545,776	18,707,400	23,314,607	(2,633,706)		41,934,077
Balance at Dec. 31, 2018	2,545,776	18,418,995	24,841,569	(2,187,396)		43,618,944
Net Income			2,526,915			2,526,915
Comprehensive income (loss):
Changes in net gain on securities available for sale				1,523,562		1,523,562
Cash dividend declared per share			(610,986)			(610,986)
Balance at Jun. 30, 2019	2,545,776	18,418,995	26,757,498	(663,834)		47,058,435
Balance at Mar. 31, 2019	2,545,776	18,418,995	25,764,780	(1,469,626)		45,259,925
Net Income			1,298,212			1,298,212
Comprehensive income (loss):
Changes in net gain on securities available for sale				805,792		805,792
Cash dividend declared per share			(305,494)			(305,494)
Balance at Jun. 30, 2019	$ 2,545,776	$ 18,418,995	$ 26,757,498	$ (663,834)		$ 47,058,435

Consolidated Statement of Cha_2

Consolidated Statement of Changes in Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Stockholders' Equity [Abstract]
Dividends per share	$ 0.12	$ 0.12	$ 0.24	$ 0.23

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net income	$ 2,526,915	$ 2,380,054
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for loan losses	366,298	355,500
Depreciation	607,500	474,903
Net amortization of investment securities	140,392	185,548
Income on cash surrender value of bank owned life insurance	(66,830)	(82,239)
Amortization of intangibles	3,907	7,812
Loss on sale/writedown of foreclosed assets	5,850	6,789
Net gain on disposal of fixed assets	(250,578)	(6,888)
Net gain on extinguishment of debt	(143,031)	0
Change in:
Other assets	(380,247)	282,059
Other liabilities	133,368	(140,255)
Net cash provided by operating activities	2,943,544	3,463,283
Cash flows from investing activities:
Proceeds from calls, paydowns and maturities of securities HTM	4,257,355	4,070,107
Proceeds from calls, paydowns and maturities of securities AFS	540,971	354,244
Proceeds from Federal Home Loan Bank stock repurchase	840,900	0
Purchase of securities held to maturity	0	(752,889)
Purchase of securities available for sale	(14,128,215)	(6,744,149)
Purchase of Federal Home Loan Bank Stock	(890,500)	(36,600)
Purchase of certificates of deposit in other banks	(245,000)	0
Net change in loans	(11,848,096)	(16,285,700)
Purchase of premises and equipment	(440,881)	(1,931,714)
Proceeds from sales of fixed assets and foreclosed assets	491,655	957,611
Net cash used by investing activities	(21,421,811)	(20,369,090)
Cash flows from financing activities:
Net change in deposits	11,997,878	18,430,694
Payment of short-term portion of long-term debt	(37,283,601)	0
Payment for early retirement of long-term debt	(11,501,940)	0
Proceeds from issuance of short-term debt	33,214,286	0
Proceeds from issuance of long-term debt	17,785,714	0
Cash dividends paid	(610,986)	(584,876)
Net cash provided by financing activities	13,601,351	17,845,818
Increase (decrease) in cash and cash equivalents	(4,876,916)	940,011
Cash and cash equivalents - beginning of period	35,498,792	35,078,432
Cash and cash equivalents - end of period	30,621,876	36,018,443
NONCASH ITEMS:
Increase in foreclosed properties and decrease in loans	0	413,655
Unrealized gain (loss) on securities available for sale	1,928,559	(1,270,997)
Net reclass between short and long-term debt	0	1,500,000
Retirement of treasury stock	0	26,242,793
Receivable from sale of guaranteed foreclosed asset	0	172,616
Sales of fixed assets through loans	$ 0	$ 13,000

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2019
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, Tift and the surrounding counties of southwest Georgia. The Bank operates six branch offices in its trade area. In Valdosta, Georgia, lending services are offered at our Commercial Banking Center at 3520 N Valdosta Road, located next door to the branch. Trust and retail brokerage services are offered at an office building located at 25 2nd Avenue SW in Moultrie. 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 allowance for loan losses and the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans. In connection with these evaluations, management obtains independent appraisals for significant properties. 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 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 no uninsured deposits at June 30, 2019. Investment Securities Investment 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 are classified as available for sale and recorded at fair value with unrealized gains and losses (net of tax effect) 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. During second quarter 2019, the Corporation sold a parcel of vacant land in Moultrie, Georgia, for $387,938 and recorded a gain on the sale in the amount of $266,224. 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 the lower of cost or market value based on the current appraisal of $211,500. On November 30, 2018, the Corporation sold this property and recorded a loss in the amount of $96,750. 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. 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, 2019. Foreclosed assets totaled $37,605 at June 30, 2019 and $127,605 at December 31, 2018. 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. All intangibles were fully amortized as of June 30, 2019. 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. The Corporation makes annual contributions to the plans in amounts not exceeding the regulatory requirements. 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, 2019, and December 31, 2018, the policies had a value of $6,846,072 and $6,779,242, respectively, and were 14.5% and 15.5%, 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, 2016 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 $81,036 and $156,786 for the three and six month periods ended June 30, 2019, 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, 2019, the Bank is considered to be well-capitalized under the Basel III Capital Rules. There have been no conditions or events since June 30, 2019, that management believes has changed the Bank’s status as “well-capitalized.” The capital ratios of the Corporation and Bank are presented in Management Discussion and Analysis of the Corporation’s Notes to Consolidated Financial Statements. 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. The purpose of this ASU is to codify the SEC's guidance issued in Staff Accounting Bulletin 118. The amendments in this update were effective upon issuance. The adoption of ASU 2018-05 had no material impact on the Corporation’s consolidated financial statements. 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. The purpose of this ASU is to codify the SEC's guidance issued in Staff Accounting Bulletin 117. The amendments in this update were effective upon issuance. The adoption of ASU 2018-04 had no material impact on the Corporation’s consolidated financial statements. In February 2018, FASB issued ASU 2018-03, Technical Corrections and Improvements to Financial Instruments - Overall (Subtopic 825-10). This Update clarifies certain aspects of the guidance issued in ASU 2016-01 including (i) an entity measuring an equity security using the measurement alternative may make an irrevocable election to change its measurement approach to a fair value method under Topic 820 for that security and any identical or similar investments of the same issuer, (ii) fair value adjustments under the measurement alternative should be as of the date the observable transaction for a similar security occurred, (iii) requiring the remeasurement of the entire value of forward contracts and purchased options when observable transactions occur on the underlying equity securities, (iv) financial liabilities for which the fair value option is elected should follow the guidance in paragraph 825-10-45-5, (v) changes in the fair value of financial liabilities for which the fair value option is elected relating to the instrument-specific credit risk should first be measured in the currency of denomination and then both components of the change in fair value should be remeasured into the reporting entity's functional currency using end-of-period spot rates, and (vi) the prospective transition approach should only be applied for instances in which the measurement alternative is applied. The guidance was effective for interim periods beginning after June 15, 2018 and may be early adopted provided ASU 2016-01 was adopted. The Company adopted the amendments in this ASU effective January 1, 2018. The adoption of ASU 2018-03 had no material impact on the Corporation’s consolidated financial statements. In February 2018, the FASB issued ASU No. 2018-02, Income Statement – Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. ASU 2018-02 provides guidance on accounting for the effects of the Tax Cuts and Jobs Act, which was enacted in December, 2017. The guidance allows reclassification of the tax effects that were stranded in accumulated other comprehensive income as a result of the tax rate change from accumulated other comprehensive income to retained earnings. This guidance is effective for fiscal years beginning after December 15, 2018. The adoption of ASU 2018-02 had no material impact on the Corporation’s consolidated financial statements. In May 2017, the FASB issued ASU No. 2017-09, “Stock Compensation, Scope of Modification Accounting.” This ASU clarifies when changes to the terms of conditions of a share-based payment award must be accounted for as modifications. Companies will apply the modification accounting guidance if the value, vesting conditions or classification of the award changes. The new guidance should reduce diversity in practice and result in fewer changes to the terms of an award being accounted for as modifications, as the guidance will allow companies to make certain non-substantive changes to awards without accounting for them as modifications. It does not change the accounting for modifications. ASU No. 2017-09 is effective for interim and annual reporting periods beginning after December 15, 2017; early adoption is permitted. The adoption of ASU 2017-09 had no material impact on the Corporation’s consolidated financial statements. 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. This ASU shortens the amortization period for certain callable debt securities held at a premium. The premium on individual callable debt securities shall be amortized to the earliest call date. This guidance does not apply to securities for which prepayments are estimated on a large number of similar loans where prepayments are probable and reasonable estimable. The amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. This update should be adopted on a modified retrospective basis with a cumulative effect adjustment to retained earnings on the date of adoption. The adoption of ASU 2017-08 had no material impact on the Corporation’s consolidated financial statements. 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. The updated accounting guidance requires changes to the presentation of the components of net periodic benefit cost on the income statement by requiring service cost to be presented with other employee compensation costs and other components of net periodic pension cost to be presented outside of any subtotal of operating income. This ASU also stipulates that only the service cost component of net benefit cost is eligible for capitalization. This ASU is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The adoption of ASU 2017-07 had no material impact on the Corporation’s consolidated financial statements. In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805), which provides a new framework for determining whether transactions should be accounted for as acquisitions or disposals of assets or businesses. This ASU is effective for public business entities for annual and interim periods in fiscal years beginning after December 15, 2017. Early adoption will be permitted and should apply it to transactions that have not been reported in financial statements that have been issued or made available for issuance. The adoption of ASU 2017-01 had no material impact on the Corporation’s consolidated financial statements. 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. The amendments in this ASU (i) requires equity investments, with certain exceptions, to be measured at fair value with changes in fair value recognized in net income, (ii) simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment, (iii) eliminates the requirement for public business entities to disclose the methods and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet, (iv) requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes, (v) requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments, (vi) requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the balance sheet or the accompanying notes to the financial statements and (vii) clarifies that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity's other deferred tax assets. The accounting guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. The Corporation adopted the amendments in this ASU effective January 1, 2018. The adoption of 2016-01 had no material impact on the Corporation’s consolidated financial statements. 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 (Topic 606), ASU 2015-14 Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, ASU 2016-08 Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net), ASU 2016-10 Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing, ASU 2016-11 Revenue Recognition (Topic 605) and Derivatives and Hedging (Topic 815): Rescission of SEC Guidance Because of Accounting Standards Updates 2014-09 and 2014-16 Pursuant to Staff Announcements at the March 3, 2016 EITF Meeting, ASU 2016-12 Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients, ASU 2016-20 Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers, and ASU 2017-05 Other Income - Gains and losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20) - Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets. This new guidance, which does not apply to financial instruments, provides that revenue should be recognized for the transfer of goods and services to customers in an amount equal to the consideration it receives or expects to receive. The guidance also includes expanded disclosure requirements that provide comprehensive information about the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. The Corporation adopted the amendments in this ASU effective January 1, 2018, using the modified retrospective method. Since there was no change to net income upon adoption of the new guidance, a cumulative effect adjustment to opening retained earnings was not necessary. See below for additional information related to revenue generated from contracts with customers. In 2016, the FASB issued ASU 2016-02 – Leases (Topic 842). ASU 2016-02 amends the existing standards for lease accounting effectively requiring most leases be carried on the balance sheets of the related lessees by requiring them to recognize a right-of-use asset and a corresponding lease liability. ASU 2016-02 includes qualitative and quantitative disclosure requirements intended to provide greater insight into the nature of an entity’s leasing activities. The standard must be adopted using a modified retrospective transition with a cumulative-effect adjustment to equity as of the beginning of the period in which it is adopted. ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2018, and interim periods within those annual periods with early adoption permitted. The adoption of ASU No. 2016-02 had no material impact on the Corporation’s consolidated financial statements. 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 s

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2019
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 an 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, 2019, and December 31, 2018. June 30, 2019 Level 1 Level 2 Level 3 Total Investment securities available for sale: U.S. government treasury securities $ 4,021,530 $ 0 $ 0 $ 4,021,530 U.S. government agency securities 0 47,678,029 0 47,678,029 State and municipal securities 0 7,528,095 0 7,528,095 Residential mortgage-backed securities 0 14,484,980 0 14,484,980 Total $ 4,021,530 $ 69,691,104 $ 0 $ 73,712,634 December 31, 2018 Level 1 Level 2 Level 3 Total Investment securities available for sale: U.S. government treasury securities $ 954,570 $ 0 $ 0 $ 954,570 U.S. government agency securities 0 45,207,005 0 45,207,005 State and municipal securities 0 7,377,935 0 7,377,935 Residential mortgage-backed securities 0 4,774,067 0 4,774,067 Total $ 954,570 $ 57,359,007 $ 0 $ 58,313,577 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, 2019, and December 31, 2018. June 30, 2019 Level 1 Level 2 Level 3 Total Foreclosed assets $ 0 $ 0 $ 37,605 $ 37,605 Impaired loans 0 0 4,033,151 4,033,151 Total assets at fair value $ 0 $ 0 $ 4,070,756 $ 4,070,756 December 31, 2018 Level 1 Level 2 Level 3 Total Foreclosed assets $ 0 $ 0 $ 127,605 $ 127,605 Impaired loans 0 0 3,838,151 3,838,151 Total assets at fair value $ 0 $ 0 $ 3,965,756 $ 3,965,756 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 a range of 80 – 85% of appraised value which considers the estimated costs to sell. 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, 2019, and December 31, 2018: Estimated Fair Value June 30, 2019 Carrying Amount Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets: Cash and cash equivalents $ 30,622 $ 30,622 $ 0 $ 0 $ 30,622 Certificates of deposit in other banks 2,977 2,977 0 0 2,977 Investment securities available for sale 73,713 4,022 69,691 0 73,713 Investment securities held to maturity 32,546 0 33,210 0 33,210 Federal Home Loan Bank stock 1,870 0 1,870 0 1,870 Loans, net 384,803 0 370,382 4,033 374,415 Bank owned life insurance 6,846 0 6,846 0 6,846 Liabilities: Deposits 467,637 0 453,638 0 453,638 Federal Home Loan Bank advances 33,700 0 35,222 0 35,222 Estimated Fair Value December 31, 2018 Carrying Amount Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets: Cash and cash equivalents $ 35,499 $ 35,499 $ 0 $ 0 $ 35,499 Certificates of deposit in other banks 2,732 2,732 0 0 2,732 Investment securities available for sale 58,314 955 57,359 0 58,314 Investment securities held to maturity 36,827 0 37,010 0 37,010 Federal Home Loan Bank stock 1,820 0 1,820 0 1,820 Loans, net 373,321 0 362,373 3,838 366,211 Bank owned life insurance 6,779 0 6,779 0 6,779 Liabilities: Deposits 455,640 0 456,245 0 456,245 Federal Home Loan Bank advances 31,629 0 31,591 0 31,591 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, 2019
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, 2019, and December 31, 2018, were as follows: Securities Available For Sale: June 30, 2019 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value U.S. government treasury securities $ 3,966,170 $ 55,360 $ 0 $ 4,021,530 U.S. government agency securities 46,764,074 1,007,002 93,047 47,678,029 State and municipal securities 7,349,504 180,457 1,866 7,528,095 Residential mortgage-backed securities 14,360,334 126,359 1,713 14,484,980 Total debt securities AFS $ 72,440,082 $ 1,369,178 $ 96,626 $ 73,712,634 December 31, 2018 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value U.S. government treasury securities $ 982,044 $ 0 $ 27,474 $ 954,570 U.S. government agency securities 45,823,595 264,567 881,157 45,207,005 State and municipal securities 7,394,278 30,579 46,922 7,377,935 Residential mortgage-backed securities 4,769,668 21,579 17,180 4,774,067 Total debt securities AFS $ 58,969,585 $ 316,725 $ 972,733 $ 58,313,577 Securities Held to Maturity June 30, 2019 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value State and municipal securities $ 26,893,531 $ 492,712 $ 11,212 $ 27,375,031 Residential mortgage-backed securities 5,652,541 182,407 0 5,834,948 Total securities HTM $ 32,546,072 $ 675,119 $ 11,212 $ 33,209,979 December 31, 2018 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value State and municipal securities $ 30,582,785 $ 208,480 $ 67,434 $ 30,723,831 Residential mortgage-backed securities 6,244,288 49,490 7,282 6,286,496 Total securities HTM $ 36,827,073 $ 257,970 $ 74,716 $ 37,010,327 The amortized cost and estimated fair value of securities at June 30, 2019, and December 31, 2018, 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, 2019 Available for Sale: Amortized Cost Estimated Fair Value Amounts maturing in: One year or less $ 4,003,638 $ 4,001,488 After one through five years 35,076,017 35,858,294 After five through ten years 18,933,752 19,302,368 After ten years 14,426,675 14,550,484 Total debt securities AFS $ 72,440,082 $ 73,712,634 Held to Maturity: Amortized Cost Estimated Fair Value Amounts maturing in: One year or less $ 4,687,048 $ 4,698,641 After one through five years 12,284,059 12,493,184 After five through ten years 10,638,493 10,894,566 After ten years 4,936,472 5,123,588 Total securities HTM $ 32,546,072 $ 33,209,979 December 31, 2018 Available for Sale: Amortized Cost Estimated Fair Value Amounts maturing in: One year or less $ 2,147,059 $ 2,124,645 After one through five years 29,691,474 29,674,236 After five through ten years 21,585,776 20,968,318 After ten years 5,545,276 5,546,378 Total debt securities AFS $ 58,969,585 $ 58,313,577 Held to Maturity: Amortized Cost Estimated Fair Value Amounts maturing in: One year or less $ 6,483,464 $ 6,497,910 After one through five years 12,885,021 12,961,209 After five through ten years 11,035,146 11,097,382 After ten years 6,423,442 6,453,826 Total securities HTM $ 36,827,073 $ 37,010,327 There were no securities sold during the three and six months ended June 30, 2019, and 2018. 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, 2019 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 $ 0 $ 0 $ 0 $ 0 U.S. government agency securities 0 0 93,047 9,207,406 State and municipal securities 0 0 1,866 870,691 Residential mortgage-backed securities 0 0 1,713 116,796 Total debt securities available for sale $ 0 $ 0 $ 96,626 $ 10,194,893 Securities Held to Maturity Temporarily impaired debt securities: State and municipal securities $ 0 $ 0 $ 11,212 $ 1,488,615 Residential mortgage-backed securities 0 0 0 0 Total securities held to maturity $ 0 $ 0 $ 11,212 $ 1,488,615 December 31, 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 $ 0 $ 0 $ 27,474 $ 954,570 U.S. government agency securities 33,077 6,073,337 848,080 20,015,052 State and municipal securities 3,209 306,792 43,713 1,813,173 Residential mortgage-backed securities 14,199 3,032,237 2,981 129,410 Total debt securities available for sale $ 50,485 $ 9,412,366 $ 922,248 $ 22,912,205 Securities Held to Maturity Temporarily impaired debt securities: State and municipal securities $ 20,209 $ 7,359,536 $ 47,225 $ 2,782,627 Residential mortgage-backed securities 5,671 879,487 1,611 89,464 Total securities held to maturity $ 25,880 $ 8,239,023 $ 48,836 $ 2,872,091 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, 2019, thirteen debt securities with unrealized losses have depreciated 0.9% 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, 2019
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, 2019 and December 31, 2018, were as follows: June 30, 2019 December 31, 2018 Commercial, financial and agricultural loans $ 91,875,926 23.7 % $ 88,403,215 23.5 % Real estate: Construction loans 22,976,763 5.9 % 24,890,536 6.6 % Commercial mortgage loans 133,594,392 34.4 % 123,477,369 32.8 % Residential loans 103,129,466 26.6 % 103,347,898 27.4 % Agricultural loans 31,145,318 8.0 % 31,561,686 8.4 % Consumer & other loans 5,563,808 1.4 % 5,086,984 1.3 % Loans outstanding 388,285,673 100.0 % 376,767,688 100.0 % Unearned interest and discount (17,367 ) (17,451 ) Allowance for loan losses (3,465,140 ) (3,428,869 ) Net loans $ 384,803,166 $ 373,321,368 The Corporation’s only significant concentration of credit at June 30, 2019, occurred in real estate loans which totaled $290,845,939 compared with $283,277,489 at December 31, 2018. However, this amount was not concentrated in any specific segment within the market or geographic area. At June 30, 2019, the lendable collateral value of the 1 – 4 family and multifamily mortgage loans that were pledged to FHLB to secure outstanding advances was $63,566,962. FHLB has a blanket lien on the 1 – 4 family and multifamily portfolios, which totaled $118,587,401. The following table shows maturities as well as interest sensitivity of the commercial, financial, agricultural, and construction loan portfolio at June 30, 2019. Commercial, Financial, Agricultural and Construction Distribution of loans which are due: In one year or less $ 39,222,998 After one year but within five years 56,744,401 After five years 18,885,290 Total $ 114,852,689 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, 2019. Loans With Predetermined Loans With Rates Floating Rates Total Commercial, financial, agricultural and construction $ 74,706,251 $ 923,440 $ 75,629,691 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 $1,794,349 and $1,204,861 at June 30, 2019, and December 31, 2018, respectively. There were $842 past due loans over ninety days and still accruing at June 30, 2019, and none at December 31, 2018. 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 $27,027 for June 30, 2019, and $64,015 for December 31, 2018. 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 30-89 Days Past Due Greater than 90 Days Total Past Due Loans Nonaccrual Loans Current Loans Total Loans Commercial, financial and $ 1,067,816 $ 842 $ 1,068,658 $ 7,204 $ 90,800,064 $ 91,875,926 Real estate: Construction loans 91,289 0 91,289 185,238 22,700,236 22,976,763 Commercial mortgage loans 36,998 0 36,998 750,001 132,807,393 133,594,392 Residential loans 534,965 0 534,965 851,906 101,742,595 103,129,466 Agricultural loans 301,144 0 301,144 0 30,844,174 31,145,318 Consumer & other loans 15,094 0 15,094 0 5,548,714 5,563,808 Total loans $ 2,047,306 $ 842 $ 2,048,148 $ 1,794,349 $ 384,443,176 $ 388,285,673 Age Analysis of Past Due Loans 30-89 Days Past Due Greater than 90 Days Total Past Due Loans Nonaccrual Loans Current Loans Total Loans Commercial, financial and $ 247,397 $ 0 $ 247,397 $ 36,157 $ 88,119,661 $ 88,403,215 Real estate: Construction loans 0 0 0 0 24,890,536 24,890,536 Commercial mortgage loans 0 0 0 1,022,550 122,454,819 123,477,369 Residential loans 1,560,913 0 1,560,913 146,154 101,640,831 103,347,898 Agricultural loans 321,319 0 321,319 0 31,240,367 31,561,686 Consumer & other loans 36,654 0 36,654 0 5,050,330 5,086,984 Total loans $ 2,166,283 $ 0 $ 2,166,283 $ 1,204,861 $ 373,396,544 $ 376,767,688 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, 2019, and December 31, 2018, impaired loans amounted to $4,760,022 and $4,356,381, respectively. A reserve amount of $726,871 and $518,230 was recorded in the allowance for loan losses for these impaired loans as of June 30, 2019, and December 31, 2018, respectively. The following tables present impaired loans, segregated by class of loans as of June 30, 2019, and December 31, 2018: Unpaid Recorded Investment Year-to-date Interest June 30, 2019 Principal Balance With No Allowance With Allowance Total Related Allowance Recorded Investment During Impairment Commercial, financial and $ 1,299,434 $ 113,251 $ 1,099,529 $ 1,212,780 $ 433,815 $ 587,074 $ 19,703 Real estate: Construction loans 395,314 274,514 0 274,514 0 274,514 8,685 Commercial mortgage loans 1,653,696 255,248 948,097 1,203,345 46,865 1,045,411 21,738 Residential loans 2,055,845 925,655 1,130,190 2,055,845 245,169 1,353,530 50,357 Agricultural loans 0 0 0 0 0 0 0 Consumer & other loans 13,538 0 13,538 13,538 1,022 13,538 489 Total loans $ 5,417,827 $ 1,568,668 $ 3,191,354 $ 4,760,022 $ 726,871 $ 3,274,067 $ 100,972 Unpaid Recorded Investment Year-to-date Interest December 31, 2018 Principal Balance With No Allowance With Allowance Total Related Allowance Recorded Investment During Impairment Commercial, financial and $ 184,899 $ 87,525 $ 568,816 $ 656,341 $ 276,392 $ 370,038 $ 52,411 Real estate: Construction loans 402,234 281,434 0 281,434 0 281,434 25,364 Commercial mortgage loans 1,787,305 1,277,611 333,892 1,611,503 51,854 1,544,299 45,403 Residential loans 1,801,002 1,027,647 752,443 1,780,090 188,368 1,594,390 127,806 Agricultural loans 12,526 12,526 0 12,526 0 12,526 5,530 Consumer & other loans 0 0 14,487 14,487 1,616 14,487 820 Total loans $ 4,187,966 $ 2,686,743 $ 1,669,638 $ 4,356,381 $ 518,230 $ 3,817,174 $ 257,334 At June 30, 2018, the year-to-date average recorded investment of impaired loans was $4,434,451 and the interest income received during impairment was $125,729. At June 30, 2019, and December 31, 2018, included in impaired loans were $3,834 and $7,458, 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, 2019, and December 31, 2018, as well as those currently paying under restructured terms and those that have defaulted under restructured terms as of June 30, 2019, and December 31, 2018. 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, 2019 Under restructured terms Accruing Non- accruing # Current # Default Commercial, financial, and $ 3,834 $ 0 1 $ 3,834 0 $ 0 Real estate: Construction loans 0 0 0 0 0 0 Commercial mortgage loans 0 0 0 0 0 0 Residential loans 0 0 0 0 0 0 Agricultural loans 0 0 0 0 0 0 Consumer & other loans 0 0 0 0 0 0 Total TDR’s $ 3,834 $ 0 1 $ 3,834 0 $ 0 December 31, 2018 Under restructured terms Accruing Non- accruing # Current # Default Commercial, financial, and $ 5,570 $ 0 1 $ 5,570 0 $ 0 Real estate: Construction loans 0 0 0 0 0 0 Commercial mortgage loans 0 0 0 0 0 0 Residential loans 1,888 0 1 1,888 0 0 Agricultural loans 0 0 0 0 0 0 Consumer & other loans 0 0 0 0 0 0 Total TDR’s $ 7,458 $ 0 2 $ 7,458 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, 2019, and December 31, 2018. June 30, 2019 December 31, 2018 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 1 3,834 0 0 1 1,888 0 0 Forbearance of interest 0 0 0 0 1 5,570 0 0 Total 1 $ 3,834 0 $ 0 2 $ 7,458 0 $ 0 As of June 30, 2019, and December 31, 2018, the Corporation had a balance of $3,834 and $7,458, respectively, in troubled debt restructurings. The Corporation had no charge-offs on such loans at June 30, 2019, and December 31, 2018. The Corporation had $3,834 in the allowance for loan losses allocated to such troubled debt restructurings at June 30, 2019, and no balance allocated at December 31, 2018. The Corporation had no unfunded commitments to lend to a customer that has a troubled debt restructured loan as of June 30, 2019. 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, 2019, and December 31, 2018: June 30, 2019 Commercial, Financial, and Agricultural Construction Real Estate Commercial Real Estate Residential Real Estate Agricultural Real Estate Consumer and Other Total Rating: Grade 1- Exceptional $ 1,543,294 $ 0 $ 0 $ 22,420 $ 0 $ 236,636 $ 1,802,350 Grade 2- Above Avg. 25,350 0 0 0 0 38,618 63,968 Grade 3- Acceptable 24,747,422 2,879,744 29,292,207 26,036,145 16,574,101 1,952,560 101,482,179 Grade 4- Fair 63,975,074 19,696,504 99,705,018 70,431,427 14,571,217 3,317,528 271,696,768 Grade 5a- Watch 1,391,027 274,515 1,472,301 2,788,321 0 15,647 5,941,811 Grade 5b- OAEM 3,807 0 2,476,833 456,629 0 2,819 2,940,088 Grade 6- Substandard 0 126,000 648,033 3,340,491 0 0 4,114,524 Grade 7- Doubtful 189,952 0 0 54,033 0 0 243,985 Total loans $ 91,875,926 $ 22,976,763 $ 133,594,392 $ 103,129,466 $ 31,145,318 $ 5,563,808 $ 388,285,673 December 31, 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 $ 1,237,602 $ 0 $ 0 $ 22,905 $ 0 $ 210,045 $ 1,470,552 Grade 2- Above Avg. 0 0 0 0 0 43,711 43,711 Grade 3- Acceptable 23,821,846 1,860,003 30,398,565 25,839,646 16,863,356 1,151,239 99,934,655 Grade 4- Fair 58,753,931 22,749,099 88,122,957 73,114,310 14,698,330 3,657,108 261,095,735 Grade 5a- Watch 473,616 0 2,411,710 722,441 0 6,206 3,613,973 Grade 5b- OAEM 3,079,098 0 446,841 1,299,587 0 2,168 4,827,694 Grade 6- Substandard 787,309 281,434 2,097,296 2,349,009 0 16,507 5,531,555 Grade 7- Doubtful 249,813 0 0 0 0 0 249,813 Total loans $ 88,403,215 $ 24,890,536 $ 123,477,369 $ 103,347,898 $ 31,561,686 $ 5,086,984 $ 376,767,688 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 period ended June 30, 2019. 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 0.17% for the six months ended June 30, 2019, compared with 0.13% at December 31, 2018. Three months ended June 30, 2019: June 30, 2019 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, 2019 $ 503,322 $ 1,043,027 $ 1,077,669 $ 458,871 $ 76,880 $ 207,158 $ 3,366,927 Charge-offs 102,217 0 89,853 0 0 6,778 198,848 Recoveries 9,484 0 0 35,940 0 1,247 46,671 Net charge-offs 92,733 0 89,853 (35,940 ) 0 5,531 152,177 Provisions charged to operations 122,964 0 138,429 (15,848 ) 0 4,845 250,390 Balance at end of period, June 30, 2019 $ 533,553 $ 1,043,027 $ 1,126,245 $ 478,963 $ 76,880 $ 206,472 $ 3,465,140 Six months ended June 30, 2019 June 30, 2019 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, 2018 $ 402,251 $ 1,043,027 $ 1,210,302 $ 458,871 $ 108,878 $ 205,540 $ 3,428,869 Charge-offs 102,217 0 274,549 0 0 6,778 383,544 Recoveries 12,180 0 3,368 35,940 0 2,029 53,517 Net charge-offs 90,037 0 271,181 (35,940 ) 0 4,749 330,027 Provisions charged to operations 221,339 0 187,124 (15,848 ) (31,998 ) 5,681 366,298 Balance at end of period, June 30, 2019 $ 533,553 $ 1,043,027 $ 1,126,245 $ 478,963 $ 76,880 $ 206,472 $ 3,465,140 Ending balance - Individually evaluated $ 433,815 $ 0 $ 46,865 $ 245,169 $ 0 $ 1,022 $ 726,871 Collectively evaluated for impairment 99,738 1,043,027 1,079,380 233,794 76,880 205,450 2,738,269 Balance at end of period $ 533,553 $ 1,043,027 $ 1,126,245 $ 478,963 $ 76,880 $ 206,472 $ 3,465,140 Loans : Ending balance - Individually evaluated $ 1,212,780 $ 274,514 $ 1,203,345 $ 2,055,845 $ 0 $ 13,538 $ 4,760,022 Collectively evaluated for impairment 90,663,146 22,702,249 132,391,047 101,073,621 31,145,318 5,550,270 383,525,651 Balance at end of period $ 91,875,926 $ 22,976,763 $ 133,594,392 $ 103,129,466 $ 31,145,318 $ 5,563,808 $ 388,285,673 At June 30, 2019, of the $4,760,022 loans that were individually evaluated for impairment, all $4,760,022 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, 2018. December 31, 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 548,460 783 43,349 6,909 0 6,844 606,345 Recoveries 12,025 0 590 0 147,252 2,215 162,082 Net charge-offs 536,435 783 42,759 6,909 (147,252 ) 4,629 444,263 Provisions charged to operations 614,426 727 196,466 49,306 (49,934 ) 18,509 829,500 Balance at end of period, December 31, 2018 $ 402,251 $ 1,043,027 $ 1,210,302 $ 458,871 $ 108,878 $ 205,540 $ 3,428,869 Ending balance - Individually evaluated $ 276,392 $ 0 $ 51,854 $ 188,368 $ 0 $ 1,616 $ 518,230 Collectively evaluated for impairment 125,859 1,043,027 1,158,448 270,503 108,878 203,924 2,910,639 Balance at end of period $ 402,251 $ 1,043,027 $ 1,210,302 $ 458,871 $ 108,878 $ 205,540 $ 3,428,869 Loans : Ending balance - Individually evaluated $ 656,341 $ 281,434 $ 1,611,503 $ 1,929,214 $ 12,526 $ 14,487 $ 4,505,505 Collectively evaluated for impairment 87,746,874 24,609,102 121,865,866 101,418,684 31,549,160 5,072,497 372,262,183 Balance at end of period $ 88,403,215 $ 24,890,536 $ 123,477,369 $ 103,347,898 $ 31,561,686 $ 5,086,984 $ 376,767,688 At December 31, 2018, of the $4,505,505 loans that were individually evaluated for impairment, only $4,356,381 were deemed impaired.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
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, Tift and the surrounding counties of southwest Georgia. The Bank operates six branch offices in its trade area. In Valdosta, Georgia, lending services are offered at our Commercial Banking Center at 3520 N Valdosta Road, located next door to the branch. Trust and retail brokerage services are offered at an office building located at 25 2nd Avenue SW in Moultrie.
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 allowance for loan losses and the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans. In connection with these evaluations, management obtains independent appraisals for significant properties. 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
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 no uninsured deposits at June 30, 2019.
Investment Securities	Investment Securities Investment 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 are classified as available for sale and recorded at fair value with unrealized gains and losses (net of tax effect) 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. During second quarter 2019, the Corporation sold a parcel of vacant land in Moultrie, Georgia, for $387,938 and recorded a gain on the sale in the amount of $266,224.
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 the lower of cost or market value based on the current appraisal of $211,500. On November 30, 2018, the Corporation sold this property and recorded a loss in the amount of $96,750.
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. 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, 2019. Foreclosed assets totaled $37,605 at June 30, 2019 and $127,605 at December 31, 2018.
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. All intangibles were fully amortized as of June 30, 2019.
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. The Corporation makes annual contributions to the plans in amounts not exceeding the regulatory requirements.
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, 2019, and December 31, 2018, the policies had a value of $6,846,072 and $6,779,242, respectively, and were 14.5% and 15.5%, 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, 2016 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 $81,036 and $156,786 for the three and six month periods ended June 30, 2019, 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, 2019, the Bank is considered to be well-capitalized under the Basel III Capital Rules. There have been no conditions or events since June 30, 2019, that management believes has changed the Bank’s status as “well-capitalized.” The capital ratios of the Corporation and Bank are presented in Management Discussion and Analysis of the Corporation’s Notes to Consolidated Financial Statements.
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. The purpose of this ASU is to codify the SEC's guidance issued in Staff Accounting Bulletin 118. The amendments in this update were effective upon issuance. The adoption of ASU 2018-05 had no material impact on the Corporation’s consolidated financial statements. 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. The purpose of this ASU is to codify the SEC's guidance issued in Staff Accounting Bulletin 117. The amendments in this update were effective upon issuance. The adoption of ASU 2018-04 had no material impact on the Corporation’s consolidated financial statements. In February 2018, FASB issued ASU 2018-03, Technical Corrections and Improvements to Financial Instruments - Overall (Subtopic 825-10). This Update clarifies certain aspects of the guidance issued in ASU 2016-01 including (i) an entity measuring an equity security using the measurement alternative may make an irrevocable election to change its measurement approach to a fair value method under Topic 820 for that security and any identical or similar investments of the same issuer, (ii) fair value adjustments under the measurement alternative should be as of the date the observable transaction for a similar security occurred, (iii) requiring the remeasurement of the entire value of forward contracts and purchased options when observable transactions occur on the underlying equity securities, (iv) financial liabilities for which the fair value option is elected should follow the guidance in paragraph 825-10-45-5, (v) changes in the fair value of financial liabilities for which the fair value option is elected relating to the instrument-specific credit risk should first be measured in the currency of denomination and then both components of the change in fair value should be remeasured into the reporting entity's functional currency using end-of-period spot rates, and (vi) the prospective transition approach should only be applied for instances in which the measurement alternative is applied. The guidance was effective for interim periods beginning after June 15, 2018 and may be early adopted provided ASU 2016-01 was adopted. The Company adopted the amendments in this ASU effective January 1, 2018. The adoption of ASU 2018-03 had no material impact on the Corporation’s consolidated financial statements. In February 2018, the FASB issued ASU No. 2018-02, Income Statement – Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. ASU 2018-02 provides guidance on accounting for the effects of the Tax Cuts and Jobs Act, which was enacted in December, 2017. The guidance allows reclassification of the tax effects that were stranded in accumulated other comprehensive income as a result of the tax rate change from accumulated other comprehensive income to retained earnings. This guidance is effective for fiscal years beginning after December 15, 2018. The adoption of ASU 2018-02 had no material impact on the Corporation’s consolidated financial statements. In May 2017, the FASB issued ASU No. 2017-09, “Stock Compensation, Scope of Modification Accounting.” This ASU clarifies when changes to the terms of conditions of a share-based payment award must be accounted for as modifications. Companies will apply the modification accounting guidance if the value, vesting conditions or classification of the award changes. The new guidance should reduce diversity in practice and result in fewer changes to the terms of an award being accounted for as modifications, as the guidance will allow companies to make certain non-substantive changes to awards without accounting for them as modifications. It does not change the accounting for modifications. ASU No. 2017-09 is effective for interim and annual reporting periods beginning after December 15, 2017; early adoption is permitted. The adoption of ASU 2017-09 had no material impact on the Corporation’s consolidated financial statements. 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. This ASU shortens the amortization period for certain callable debt securities held at a premium. The premium on individual callable debt securities shall be amortized to the earliest call date. This guidance does not apply to securities for which prepayments are estimated on a large number of similar loans where prepayments are probable and reasonable estimable. The amendments in this update are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted. This update should be adopted on a modified retrospective basis with a cumulative effect adjustment to retained earnings on the date of adoption. The adoption of ASU 2017-08 had no material impact on the Corporation’s consolidated financial statements. 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. The updated accounting guidance requires changes to the presentation of the components of net periodic benefit cost on the income statement by requiring service cost to be presented with other employee compensation costs and other components of net periodic pension cost to be presented outside of any subtotal of operating income. This ASU also stipulates that only the service cost component of net benefit cost is eligible for capitalization. This ASU is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The adoption of ASU 2017-07 had no material impact on the Corporation’s consolidated financial statements. In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805), which provides a new framework for determining whether transactions should be accounted for as acquisitions or disposals of assets or businesses. This ASU is effective for public business entities for annual and interim periods in fiscal years beginning after December 15, 2017. Early adoption will be permitted and should apply it to transactions that have not been reported in financial statements that have been issued or made available for issuance. The adoption of ASU 2017-01 had no material impact on the Corporation’s consolidated financial statements. 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. The amendments in this ASU (i) requires equity investments, with certain exceptions, to be measured at fair value with changes in fair value recognized in net income, (ii) simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment, (iii) eliminates the requirement for public business entities to disclose the methods and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet, (iv) requires public business entities to use the exit price notion when measuring the fair value of financial instruments for disclosure purposes, (v) requires an entity to present separately in other comprehensive income the portion of the total change in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to measure the liability at fair value in accordance with the fair value option for financial instruments, (vi) requires separate presentation of financial assets and financial liabilities by measurement category and form of financial asset on the balance sheet or the accompanying notes to the financial statements and (vii) clarifies that an entity should evaluate the need for a valuation allowance on a deferred tax asset related to available-for-sale securities in combination with the entity's other deferred tax assets. The accounting guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. The Corporation adopted the amendments in this ASU effective January 1, 2018. The adoption of 2016-01 had no material impact on the Corporation’s consolidated financial statements. 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 (Topic 606), ASU 2015-14 Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date, ASU 2016-08 Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net), ASU 2016-10 Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing, ASU 2016-11 Revenue Recognition (Topic 605) and Derivatives and Hedging (Topic 815): Rescission of SEC Guidance Because of Accounting Standards Updates 2014-09 and 2014-16 Pursuant to Staff Announcements at the March 3, 2016 EITF Meeting, ASU 2016-12 Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients, ASU 2016-20 Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers, and ASU 2017-05 Other Income - Gains and losses from the Derecognition of Nonfinancial Assets (Subtopic 610-20) - Clarifying the Scope of Asset Derecognition Guidance and Accounting for Partial Sales of Nonfinancial Assets. This new guidance, which does not apply to financial instruments, provides that revenue should be recognized for the transfer of goods and services to customers in an amount equal to the consideration it receives or expects to receive. The guidance also includes expanded disclosure requirements that provide comprehensive information about the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. The Corporation adopted the amendments in this ASU effective January 1, 2018, using the modified retrospective method. Since there was no change to net income upon adoption of the new guidance, a cumulative effect adjustment to opening retained earnings was not necessary. See below for additional information related to revenue generated from contracts with customers. In 2016, the FASB issued ASU 2016-02 – Leases (Topic 842). ASU 2016-02 amends the existing standards for lease accounting effectively requiring most leases be carried on the balance sheets of the related lessees by requiring them to recognize a right-of-use asset and a corresponding lease liability. ASU 2016-02 includes qualitative and quantitative disclosure requirements intended to provide greater insight into the nature of an entity’s leasing activities. The standard must be adopted using a modified retrospective transition with a cumulative-effect adjustment to equity as of the beginning of the period in which it is adopted. ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2018, and interim periods within those annual periods with early adoption permitted. The adoption of ASU No. 2016-02 had no material impact on the Corporation’s consolidated financial statements.
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 June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which is essentially the final rule on use of the CECL model, or current expected credit losses. Among other things, the amendments in this ASU require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. For SEC filers, the amendments in this ASU are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with later effective dates for non-SEC registrant public companies and other organizations. Early adoption will be permitted for all organizations for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The adoption of ASU No. 2016-13 is being reviewed for any material impact on the Corporation’s consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2019
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, 2019
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, 2019, and December 31, 2018. June 30, 2019 Level 1 Level 2 Level 3 Total Investment securities available for sale: U.S. government treasury securities $ 4,021,530 $ 0 $ 0 $ 4,021,530 U.S. government agency securities 0 47,678,029 0 47,678,029 State and municipal securities 0 7,528,095 0 7,528,095 Residential mortgage-backed securities 0 14,484,980 0 14,484,980 Total $ 4,021,530 $ 69,691,104 $ 0 $ 73,712,634 December 31, 2018 Level 1 Level 2 Level 3 Total Investment securities available for sale: U.S. government treasury securities $ 954,570 $ 0 $ 0 $ 954,570 U.S. government agency securities 0 45,207,005 0 45,207,005 State and municipal securities 0 7,377,935 0 7,377,935 Residential mortgage-backed securities 0 4,774,067 0 4,774,067 Total $ 954,570 $ 57,359,007 $ 0 $ 58,313,577
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, 2019, and December 31, 2018. June 30, 2019 Level 1 Level 2 Level 3 Total Foreclosed assets $ 0 $ 0 $ 37,605 $ 37,605 Impaired loans 0 0 4,033,151 4,033,151 Total assets at fair value $ 0 $ 0 $ 4,070,756 $ 4,070,756 December 31, 2018 Level 1 Level 2 Level 3 Total Foreclosed assets $ 0 $ 0 $ 127,605 $ 127,605 Impaired loans 0 0 3,838,151 3,838,151 Total assets at fair value $ 0 $ 0 $ 3,965,756 $ 3,965,756
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, 2019, and December 31, 2018: Estimated Fair Value June 30, 2019 Carrying Amount Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets: Cash and cash equivalents $ 30,622 $ 30,622 $ 0 $ 0 $ 30,622 Certificates of deposit in other banks 2,977 2,977 0 0 2,977 Investment securities available for sale 73,713 4,022 69,691 0 73,713 Investment securities held to maturity 32,546 0 33,210 0 33,210 Federal Home Loan Bank stock 1,870 0 1,870 0 1,870 Loans, net 384,803 0 370,382 4,033 374,415 Bank owned life insurance 6,846 0 6,846 0 6,846 Liabilities: Deposits 467,637 0 453,638 0 453,638 Federal Home Loan Bank advances 33,700 0 35,222 0 35,222 Estimated Fair Value December 31, 2018 Carrying Amount Level 1 Level 2 Level 3 Total (Dollars in thousands) Assets: Cash and cash equivalents $ 35,499 $ 35,499 $ 0 $ 0 $ 35,499 Certificates of deposit in other banks 2,732 2,732 0 0 2,732 Investment securities available for sale 58,314 955 57,359 0 58,314 Investment securities held to maturity 36,827 0 37,010 0 37,010 Federal Home Loan Bank stock 1,820 0 1,820 0 1,820 Loans, net 373,321 0 362,373 3,838 366,211 Bank owned life insurance 6,779 0 6,779 0 6,779 Liabilities: Deposits 455,640 0 456,245 0 456,245 Federal Home Loan Bank advances 31,629 0 31,591 0 31,591

Investment Securities (Tables)

Investment Securities (Tables)	6 Months Ended
	Jun. 30, 2019
Schedule of Investments [Abstract]
Schedule of Securities Available for Sale	Securities Available For Sale: June 30, 2019 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value U.S. government treasury securities $ 3,966,170 $ 55,360 $ 0 $ 4,021,530 U.S. government agency securities 46,764,074 1,007,002 93,047 47,678,029 State and municipal securities 7,349,504 180,457 1,866 7,528,095 Residential mortgage-backed securities 14,360,334 126,359 1,713 14,484,980 Total debt securities AFS $ 72,440,082 $ 1,369,178 $ 96,626 $ 73,712,634 December 31, 2018 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value U.S. government treasury securities $ 982,044 $ 0 $ 27,474 $ 954,570 U.S. government agency securities 45,823,595 264,567 881,157 45,207,005 State and municipal securities 7,394,278 30,579 46,922 7,377,935 Residential mortgage-backed securities 4,769,668 21,579 17,180 4,774,067 Total debt securities AFS $ 58,969,585 $ 316,725 $ 972,733 $ 58,313,577
Schedule of Securities Held to Maturity	Securities Held to Maturity June 30, 2019 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value State and municipal securities $ 26,893,531 $ 492,712 $ 11,212 $ 27,375,031 Residential mortgage-backed securities 5,652,541 182,407 0 5,834,948 Total securities HTM $ 32,546,072 $ 675,119 $ 11,212 $ 33,209,979 December 31, 2018 Amortized Cost Unrealized Gains Unrealized Losses Estimated Fair Value State and municipal securities $ 30,582,785 $ 208,480 $ 67,434 $ 30,723,831 Residential mortgage-backed securities 6,244,288 49,490 7,282 6,286,496 Total securities HTM $ 36,827,073 $ 257,970 $ 74,716 $ 37,010,327
Summary of Amortized Cost and Estimated Fair Value of Debt Securities	June 30, 2019 Available for Sale: Amortized Cost Estimated Fair Value Amounts maturing in: One year or less $ 4,003,638 $ 4,001,488 After one through five years 35,076,017 35,858,294 After five through ten years 18,933,752 19,302,368 After ten years 14,426,675 14,550,484 Total debt securities AFS $ 72,440,082 $ 73,712,634 Held to Maturity: Amortized Cost Estimated Fair Value Amounts maturing in: One year or less $ 4,687,048 $ 4,698,641 After one through five years 12,284,059 12,493,184 After five through ten years 10,638,493 10,894,566 After ten years 4,936,472 5,123,588 Total securities HTM $ 32,546,072 $ 33,209,979 December 31, 2018 Available for Sale: Amortized Cost Estimated Fair Value Amounts maturing in: One year or less $ 2,147,059 $ 2,124,645 After one through five years 29,691,474 29,674,236 After five through ten years 21,585,776 20,968,318 After ten years 5,545,276 5,546,378 Total debt securities AFS $ 58,969,585 $ 58,313,577 Held to Maturity: Amortized Cost Estimated Fair Value Amounts maturing in: One year or less $ 6,483,464 $ 6,497,910 After one through five years 12,885,021 12,961,209 After five through ten years 11,035,146 11,097,382 After ten years 6,423,442 6,453,826 Total securities HTM $ 36,827,073 $ 37,010,327
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, 2019 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 $ 0 $ 0 $ 0 $ 0 U.S. government agency securities 0 0 93,047 9,207,406 State and municipal securities 0 0 1,866 870,691 Residential mortgage-backed securities 0 0 1,713 116,796 Total debt securities available for sale $ 0 $ 0 $ 96,626 $ 10,194,893 Securities Held to Maturity Temporarily impaired debt securities: State and municipal securities $ 0 $ 0 $ 11,212 $ 1,488,615 Residential mortgage-backed securities 0 0 0 0 Total securities held to maturity $ 0 $ 0 $ 11,212 $ 1,488,615 December 31, 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 $ 0 $ 0 $ 27,474 $ 954,570 U.S. government agency securities 33,077 6,073,337 848,080 20,015,052 State and municipal securities 3,209 306,792 43,713 1,813,173 Residential mortgage-backed securities 14,199 3,032,237 2,981 129,410 Total debt securities available for sale $ 50,485 $ 9,412,366 $ 922,248 $ 22,912,205 Securities Held to Maturity Temporarily impaired debt securities: State and municipal securities $ 20,209 $ 7,359,536 $ 47,225 $ 2,782,627 Residential mortgage-backed securities 5,671 879,487 1,611 89,464 Total securities held to maturity $ 25,880 $ 8,239,023 $ 48,836 $ 2,872,091

Loans and Allowance for Loan _2

Loans and Allowance for Loan Losses (Tables)	6 Months Ended
	Jun. 30, 2019
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, 2019 and December 31, 2018, were as follows: June 30, 2019 December 31, 2018 Commercial, financial and agricultural loans $ 91,875,926 23.7 % $ 88,403,215 23.5 % Real estate: Construction loans 22,976,763 5.9 % 24,890,536 6.6 % Commercial mortgage loans 133,594,392 34.4 % 123,477,369 32.8 % Residential loans 103,129,466 26.6 % 103,347,898 27.4 % Agricultural loans 31,145,318 8.0 % 31,561,686 8.4 % Consumer & other loans 5,563,808 1.4 % 5,086,984 1.3 % Loans outstanding 388,285,673 100.0 % 376,767,688 100.0 % Unearned interest and discount (17,367 ) (17,451 ) Allowance for loan losses (3,465,140 ) (3,428,869 ) Net loans $ 384,803,166 $ 373,321,368
Summary of Maturities of Loan Portfolio	The following table shows maturities as well as interest sensitivity of the commercial, financial, agricultural, and construction loan portfolio at June 30, 2019. Commercial, Financial, Agricultural and Construction Distribution of loans which are due: In one year or less $ 39,222,998 After one year but within five years 56,744,401 After five years 18,885,290 Total $ 114,852,689
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, 2019. Loans With Predetermined Loans With Rates Floating Rates Total Commercial, financial, agricultural and construction $ 74,706,251 $ 923,440 $ 75,629,691
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 30-89 Days Past Due Greater than 90 Days Total Past Due Loans Nonaccrual Loans Current Loans Total Loans Commercial, financial and $ 1,067,816 $ 842 $ 1,068,658 $ 7,204 $ 90,800,064 $ 91,875,926 Real estate: Construction loans 91,289 0 91,289 185,238 22,700,236 22,976,763 Commercial mortgage loans 36,998 0 36,998 750,001 132,807,393 133,594,392 Residential loans 534,965 0 534,965 851,906 101,742,595 103,129,466 Agricultural loans 301,144 0 301,144 0 30,844,174 31,145,318 Consumer & other loans 15,094 0 15,094 0 5,548,714 5,563,808 Total loans $ 2,047,306 $ 842 $ 2,048,148 $ 1,794,349 $ 384,443,176 $ 388,285,673 Age Analysis of Past Due Loans 30-89 Days Past Due Greater than 90 Days Total Past Due Loans Nonaccrual Loans Current Loans Total Loans Commercial, financial and $ 247,397 $ 0 $ 247,397 $ 36,157 $ 88,119,661 $ 88,403,215 Real estate: Construction loans 0 0 0 0 24,890,536 24,890,536 Commercial mortgage loans 0 0 0 1,022,550 122,454,819 123,477,369 Residential loans 1,560,913 0 1,560,913 146,154 101,640,831 103,347,898 Agricultural loans 321,319 0 321,319 0 31,240,367 31,561,686 Consumer & other loans 36,654 0 36,654 0 5,050,330 5,086,984 Total loans $ 2,166,283 $ 0 $ 2,166,283 $ 1,204,861 $ 373,396,544 $ 376,767,688
Schedule of Impaired Loans Segregated by Class of Loans	The following tables present impaired loans, segregated by class of loans as of June 30, 2019, and December 31, 2018: Unpaid Recorded Investment Year-to-date Interest June 30, 2019 Principal Balance With No Allowance With Allowance Total Related Allowance Recorded Investment During Impairment Commercial, financial and $ 1,299,434 $ 113,251 $ 1,099,529 $ 1,212,780 $ 433,815 $ 587,074 $ 19,703 Real estate: Construction loans 395,314 274,514 0 274,514 0 274,514 8,685 Commercial mortgage loans 1,653,696 255,248 948,097 1,203,345 46,865 1,045,411 21,738 Residential loans 2,055,845 925,655 1,130,190 2,055,845 245,169 1,353,530 50,357 Agricultural loans 0 0 0 0 0 0 0 Consumer & other loans 13,538 0 13,538 13,538 1,022 13,538 489 Total loans $ 5,417,827 $ 1,568,668 $ 3,191,354 $ 4,760,022 $ 726,871 $ 3,274,067 $ 100,972 Unpaid Recorded Investment Year-to-date Interest December 31, 2018 Principal Balance With No Allowance With Allowance Total Related Allowance Recorded Investment During Impairment Commercial, financial and $ 184,899 $ 87,525 $ 568,816 $ 656,341 $ 276,392 $ 370,038 $ 52,411 Real estate: Construction loans 402,234 281,434 0 281,434 0 281,434 25,364 Commercial mortgage loans 1,787,305 1,277,611 333,892 1,611,503 51,854 1,544,299 45,403 Residential loans 1,801,002 1,027,647 752,443 1,780,090 188,368 1,594,390 127,806 Agricultural loans 12,526 12,526 0 12,526 0 12,526 5,530 Consumer & other loans 0 0 14,487 14,487 1,616 14,487 820 Total loans $ 4,187,966 $ 2,686,743 $ 1,669,638 $ 4,356,381 $ 518,230 $ 3,817,174 $ 257,334
Schedule of Troubled Debt Restructuring by Loan Class	June 30, 2019 Under restructured terms Accruing Non- accruing # Current # Default Commercial, financial, and $ 3,834 $ 0 1 $ 3,834 0 $ 0 Real estate: Construction loans 0 0 0 0 0 0 Commercial mortgage loans 0 0 0 0 0 0 Residential loans 0 0 0 0 0 0 Agricultural loans 0 0 0 0 0 0 Consumer & other loans 0 0 0 0 0 0 Total TDR’s $ 3,834 $ 0 1 $ 3,834 0 $ 0 December 31, 2018 Under restructured terms Accruing Non- accruing # Current # Default Commercial, financial, and $ 5,570 $ 0 1 $ 5,570 0 $ 0 Real estate: Construction loans 0 0 0 0 0 0 Commercial mortgage loans 0 0 0 0 0 0 Residential loans 1,888 0 1 1,888 0 0 Agricultural loans 0 0 0 0 0 0 Consumer & other loans 0 0 0 0 0 0 Total TDR’s $ 7,458 $ 0 2 $ 7,458 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, 2019, and December 31, 2018. June 30, 2019 December 31, 2018 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 1 3,834 0 0 1 1,888 0 0 Forbearance of interest 0 0 0 0 1 5,570 0 0 Total 1 $ 3,834 0 $ 0 2 $ 7,458 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, 2019, and December 31, 2018: June 30, 2019 Commercial, Financial, and Agricultural Construction Real Estate Commercial Real Estate Residential Real Estate Agricultural Real Estate Consumer and Other Total Rating: Grade 1- Exceptional $ 1,543,294 $ 0 $ 0 $ 22,420 $ 0 $ 236,636 $ 1,802,350 Grade 2- Above Avg. 25,350 0 0 0 0 38,618 63,968 Grade 3- Acceptable 24,747,422 2,879,744 29,292,207 26,036,145 16,574,101 1,952,560 101,482,179 Grade 4- Fair 63,975,074 19,696,504 99,705,018 70,431,427 14,571,217 3,317,528 271,696,768 Grade 5a- Watch 1,391,027 274,515 1,472,301 2,788,321 0 15,647 5,941,811 Grade 5b- OAEM 3,807 0 2,476,833 456,629 0 2,819 2,940,088 Grade 6- Substandard 0 126,000 648,033 3,340,491 0 0 4,114,524 Grade 7- Doubtful 189,952 0 0 54,033 0 0 243,985 Total loans $ 91,875,926 $ 22,976,763 $ 133,594,392 $ 103,129,466 $ 31,145,318 $ 5,563,808 $ 388,285,673 December 31, 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 $ 1,237,602 $ 0 $ 0 $ 22,905 $ 0 $ 210,045 $ 1,470,552 Grade 2- Above Avg. 0 0 0 0 0 43,711 43,711 Grade 3- Acceptable 23,821,846 1,860,003 30,398,565 25,839,646 16,863,356 1,151,239 99,934,655 Grade 4- Fair 58,753,931 22,749,099 88,122,957 73,114,310 14,698,330 3,657,108 261,095,735 Grade 5a- Watch 473,616 0 2,411,710 722,441 0 6,206 3,613,973 Grade 5b- OAEM 3,079,098 0 446,841 1,299,587 0 2,168 4,827,694 Grade 6- Substandard 787,309 281,434 2,097,296 2,349,009 0 16,507 5,531,555 Grade 7- Doubtful 249,813 0 0 0 0 0 249,813 Total loans $ 88,403,215 $ 24,890,536 $ 123,477,369 $ 103,347,898 $ 31,561,686 $ 5,086,984 $ 376,767,688
Schedule of Allowance for Loan Losses Methodology	Three months ended June 30, 2019: June 30, 2019 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, 2019 $ 503,322 $ 1,043,027 $ 1,077,669 $ 458,871 $ 76,880 $ 207,158 $ 3,366,927 Charge-offs 102,217 0 89,853 0 0 6,778 198,848 Recoveries 9,484 0 0 35,940 0 1,247 46,671 Net charge-offs 92,733 0 89,853 (35,940 ) 0 5,531 152,177 Provisions charged to operations 122,964 0 138,429 (15,848 ) 0 4,845 250,390 Balance at end of period, June 30, 2019 $ 533,553 $ 1,043,027 $ 1,126,245 $ 478,963 $ 76,880 $ 206,472 $ 3,465,140 Six months ended June 30, 2019 June 30, 2019 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, 2018 $ 402,251 $ 1,043,027 $ 1,210,302 $ 458,871 $ 108,878 $ 205,540 $ 3,428,869 Charge-offs 102,217 0 274,549 0 0 6,778 383,544 Recoveries 12,180 0 3,368 35,940 0 2,029 53,517 Net charge-offs 90,037 0 271,181 (35,940 ) 0 4,749 330,027 Provisions charged to operations 221,339 0 187,124 (15,848 ) (31,998 ) 5,681 366,298 Balance at end of period, June 30, 2019 $ 533,553 $ 1,043,027 $ 1,126,245 $ 478,963 $ 76,880 $ 206,472 $ 3,465,140 Ending balance - Individually evaluated $ 433,815 $ 0 $ 46,865 $ 245,169 $ 0 $ 1,022 $ 726,871 Collectively evaluated for impairment 99,738 1,043,027 1,079,380 233,794 76,880 205,450 2,738,269 Balance at end of period $ 533,553 $ 1,043,027 $ 1,126,245 $ 478,963 $ 76,880 $ 206,472 $ 3,465,140 Loans : Ending balance - Individually evaluated $ 1,212,780 $ 274,514 $ 1,203,345 $ 2,055,845 $ 0 $ 13,538 $ 4,760,022 Collectively evaluated for impairment 90,663,146 22,702,249 132,391,047 101,073,621 31,145,318 5,550,270 383,525,651 Balance at end of period $ 91,875,926 $ 22,976,763 $ 133,594,392 $ 103,129,466 $ 31,145,318 $ 5,563,808 $ 388,285,673 The following table details activity in the ALL and loans evaluated for impairment by class of loans for the year ended December 31, 2018. December 31, 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 548,460 783 43,349 6,909 0 6,844 606,345 Recoveries 12,025 0 590 0 147,252 2,215 162,082 Net charge-offs 536,435 783 42,759 6,909 (147,252 ) 4,629 444,263 Provisions charged to operations 614,426 727 196,466 49,306 (49,934 ) 18,509 829,500 Balance at end of period, December 31, 2018 $ 402,251 $ 1,043,027 $ 1,210,302 $ 458,871 $ 108,878 $ 205,540 $ 3,428,869 Ending balance - Individually evaluated $ 276,392 $ 0 $ 51,854 $ 188,368 $ 0 $ 1,616 $ 518,230 Collectively evaluated for impairment 125,859 1,043,027 1,158,448 270,503 108,878 203,924 2,910,639 Balance at end of period $ 402,251 $ 1,043,027 $ 1,210,302 $ 458,871 $ 108,878 $ 205,540 $ 3,428,869 Loans : Ending balance - Individually evaluated $ 656,341 $ 281,434 $ 1,611,503 $ 1,929,214 $ 12,526 $ 14,487 $ 4,505,505 Collectively evaluated for impairment 87,746,874 24,609,102 121,865,866 101,418,684 31,549,160 5,072,497 372,262,183 Balance at end of period $ 88,403,215 $ 24,890,536 $ 123,477,369 $ 103,347,898 $ 31,561,686 $ 5,086,984 $ 376,767,688

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	Nov. 30, 2018	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Dec. 31, 2016
Maximum FDIC insured amount		$ 250,000	$ 250,000
Uninsured deposits		0	0
Bank property held for sale					$ 211,500
Net loss on disposal of bank property held for sale	$ 96,750
Allowance for foreclosed asset losses			0
Foreclosed assets		37,605	37,605	$ 127,605
Bank owned life insurance policies		$ 6,846,072	$ 6,846,072	$ 6,779,242
Bank owned life insurance policies, stockholders equity, percentage		14.50%	14.50%	15.50%
Advertising expense		$ 81,036	$ 156,786
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]
Total consolidated assets		$ 1,000,000,000	$ 1,000,000,000
Land [Member]
Proceeds from sale of property		387,938
Gain on sale of property		$ 266,224

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Estimated Useful Lives of Premises and Equipment (Details)	6 Months Ended
	Jun. 30, 2019
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, 2019
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, 2019	Dec. 31, 2018
U.S. government treasury securities	$ 4,021,530	$ 954,570
U.S. government agency securities	47,678,029	45,207,005
State and municipal securities	7,528,095	7,377,935
Residential mortgage-backed securities	14,484,980	4,774,067
Total	73,712,634	58,313,577
Level 1 [Member]
U.S. government treasury securities	4,021,530	954,570
U.S. government agency securities	0	0
State and municipal securities	0	0
Residential mortgage-backed securities	0	0
Total	4,021,530	954,570
Level 2 [Member]
U.S. government treasury securities	0	0
U.S. government agency securities	47,678,029	45,207,005
State and municipal securities	7,528,095	7,377,935
Residential mortgage-backed securities	14,484,980	4,774,067
Total	69,691,104	57,359,007
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 - Sch_2

Fair Value Measurements - Schedule of Fair Value of Assets Recorded on a Nonrecurring Basis (Details) - Fair Value, Measurements, Nonrecurring [Member] - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Foreclosed assets	$ 37,605	$ 127,605
Impaired loans	4,033,151	3,838,151
Total assets at fair value	4,070,756	3,965,756
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	127,605
Impaired loans	4,033,151	3,838,151
Total assets at fair value	$ 4,070,756	$ 3,965,756

Fair Value Measurements - Sch_3

Fair Value Measurements - Schedule of Carrying and Estimated Fair Value of Assets and Liabilities Recorded at Fair Value (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2017
Cash and cash equivalents	$ 30,621,876	$ 35,498,792	$ 36,018,443	$ 35,078,432
Certificates of deposit in other banks	2,977,000	2,732,000
Investment securities available for sale	73,712,634	58,313,577
Investment securities held to maturity	33,209,979	37,010,327
Federal Home Loan Bank stock	1,869,900	1,820,300
Loans, net	364,345,000	366,211,000
Bank owned life insurance	6,846,072	6,779,242
Deposits	457,973,000	456,245,000
Federal Home Loan Bank advances	35,222,000	31,591,000
Level 1 [Member]
Cash and cash equivalents	30,622,000	35,499,000
Certificates of deposit in other banks	2,977,000	2,732,000
Investment securities available for sale	4,022,000	955,000
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	69,691,000	57,359,000
Investment securities held to maturity	33,210,000	37,010,000
Federal Home Loan Bank stock	1,870,000	1,820,000
Loans, net	370,382,000	362,373,000
Bank owned life insurance	6,846,000	6,779,000
Deposits	453,638,000	456,245,000
Federal Home Loan Bank advances	35,222,000	31,591,000
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	4,033,000	3,838,000
Bank owned life insurance	0	0
Deposits	0	0
Federal Home Loan Bank advances	0	0
Carrying Amount [Member]
Cash and cash equivalents	30,622,000	35,499,000
Certificates of deposit in other banks	2,977,000	2,732,000
Investment securities available for sale	73,713,000	58,314,000
Investment securities held to maturity	32,546,000	36,827,000
Federal Home Loan Bank stock	1,870,000	1,820,000
Loans, net	384,803,000	373,321,000
Bank owned life insurance	6,846,000	6,779,000
Deposits	467,637,000	455,640,000
Federal Home Loan Bank advances	$ 33,700,000	$ 31,629,000

Investment Securities (Details

Investment Securities (Details Narrative)	Jun. 30, 2019Integer
Schedule of Investments [Abstract]
Available-for-sale securities, number of debt securities	13
Percentage of debt securities unrealized losses depreciated on amortized cost basis	0.90%

Investment Securities - Schedul

Investment Securities - Schedule of Securities Available for Sale (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Amortized Cost	$ 72,440,082	$ 58,969,585
Unrealized Gains	1,369,178	316,725
Unrealized Losses	96,626	972,733
Total Estimated Fair Value	73,712,634	58,313,577
U.S. Government Treasury Securities [Member]
Amortized Cost	3,966,170	982,044
Unrealized Gains	55,360	0
Unrealized Losses	0	27,474
Total Estimated Fair Value	4,021,530	954,570
U.S. Government Agency Securities [Member]
Amortized Cost	46,764,074	45,823,595
Unrealized Gains	1,007,002	264,567
Unrealized Losses	93,047	881,157
Total Estimated Fair Value	47,678,029	45,207,005
State and Municipal Securities [Member]
Amortized Cost	7,349,504	7,394,278
Unrealized Gains	180,457	30,579
Unrealized Losses	1,866	46,922
Total Estimated Fair Value	7,528,095	7,377,935
Residential Mortgage-Backed Securities [Member]
Amortized Cost	14,360,334	4,769,668
Unrealized Gains	126,359	21,579
Unrealized Losses	1,713	17,180
Total Estimated Fair Value	$ 14,484,980	$ 4,774,067

Investment Securities - Sched_2

Investment Securities - Schedule of Securities Held to Maturity (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Amortized Cost	$ 32,546,072	$ 36,827,073
Unrealized Gains	675,119	257,970
Unrealized Losses	11,212	74,716
Estimated Fair Value	33,209,979	37,010,327
State and Municipal Securities [Member]
Amortized Cost	26,893,531	30,582,785
Unrealized Gains	492,712	208,480
Unrealized Losses	11,212	67,434
Estimated Fair Value	27,375,031	30,723,831
Residential Mortgage-Backed Securities [Member]
Amortized Cost	5,652,541	6,244,288
Unrealized Gains	182,407	49,490
Unrealized Losses	0	7,282
Estimated Fair Value	$ 5,834,948	$ 6,286,496

Investment Securities - Summary

Investment Securities - Summary of Amortized Cost and Estimated Fair Value of Debt Securities (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Schedule of Investments [Abstract]
Available for Sale Amounts maturing in One year or less, Amortized Cost	$ 4,003,638	$ 2,147,059
Available for Sale Amounts maturing in After one through five years, Amortized Cost	35,076,017	29,691,474
Available for Sale Amounts maturing in After five through ten years, Amortized Cost	18,933,752	21,585,776
Available for Sale Amounts maturing in After ten years, Amortized Cost	14,426,675	5,545,276
Total debt securities AFS, Amortized Cost	72,440,082	58,969,585
Available for Sale Amounts maturing in One year or less, Estimated Fair Value	4,001,488	2,124,645
Available for Sale Amounts maturing in After one through five years, Estimated Fair Value	35,858,294	29,674,236
Available for Sale Amounts maturing in After five through ten years, Estimated Fair Value	19,302,368	20,968,318
Available for Sale Amounts maturing in After ten years, Estimated Fair Value	14,550,484	5,546,378
Total debt securities AFS, Estimated Fair Value	73,712,634	58,313,577
Held to Maturity Amounts maturing in One year or less, Amortized Cost	4,687,048	6,483,464
Held to Maturity Amounts maturing in After one through five years, Amortized Cost	12,284,059	12,885,021
Held to Maturity Amounts maturing in After five through ten years, Amortized Cost	10,638,493	11,035,146
Held to Maturity Amounts maturing in After ten years, Amortized Cost	4,936,472	6,423,442
Total securities HTM, Amortized Cost	32,546,072	36,827,073
Held to Maturity Amounts maturing in One year or less, Estimated Fair Value	4,698,641	6,497,910
Held to Maturity Amounts maturing in After one through five years, Estimated Fair Value	12,493,184	12,961,209
Held to Maturity Amounts maturing in After five through ten years, Estimated Fair Value	10,894,566	11,097,382
Held to Maturity Amounts maturing in After ten years, Estimated Fair Value	5,123,588	6,453,826
Total securities HTM, Estimated Fair Value	$ 33,209,979	$ 37,010,327

Investment Securities - Sched_3

Investment Securities - Schedule of Information Pertaining to Securities Gross Unrealized Losses by Investments (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Less Than Twelve Months, Gross Unrealized Losses	$ 0	$ 50,485
Less Than Twelve Months, Fair Value	0	9,412,366
Twelve Months or More, Gross Unrealized Losses	96,626	922,248
Twelve Months or More, Fair Value	10,194,893	22,912,205
Less Than Twelve Months, Gross Unrealized Losses	0	25,880
Less Than Twelve Months, Fair Value	0	8,239,023
Twelve Months or More, Gross Unrealized Losses	11,212	48,836
Twelve Months or More, Fair Value	1,488,615	2,872,091
U.S. Government Treasury Securities [Member]
Less Than Twelve Months, Gross Unrealized Losses	0	0
Less Than Twelve Months, Fair Value	0	0
Twelve Months or More, Gross Unrealized Losses	0	27,474
Twelve Months or More, Fair Value	0	954,570
U.S. Government Agency Securities [Member]
Less Than Twelve Months, Gross Unrealized Losses	0	33,077
Less Than Twelve Months, Fair Value	0	6,073,337
Twelve Months or More, Gross Unrealized Losses	93,047	848,080
Twelve Months or More, Fair Value	9,207,406	20,015,052
State and Municipal Securities [Member]
Less Than Twelve Months, Gross Unrealized Losses	0	3,209
Less Than Twelve Months, Fair Value	0	306,792
Twelve Months or More, Gross Unrealized Losses	1,866	43,713
Twelve Months or More, Fair Value	870,691	1,813,173
Less Than Twelve Months, Gross Unrealized Losses	0	20,209
Less Than Twelve Months, Fair Value	0	7,359,536
Twelve Months or More, Gross Unrealized Losses	11,212	47,225
Twelve Months or More, Fair Value	1,488,615	2,782,627
Residential Mortgage-Backed Securities [Member]
Less Than Twelve Months, Gross Unrealized Losses	0	14,199
Less Than Twelve Months, Fair Value	0	3,032,237
Twelve Months or More, Gross Unrealized Losses	1,713	2,981
Twelve Months or More, Fair Value	116,796	129,410
Less Than Twelve Months, Gross Unrealized Losses	0	5,671
Less Than Twelve Months, Fair Value	0	879,487
Twelve Months or More, Gross Unrealized Losses	0	1,611
Twelve Months or More, Fair Value	$ 0	$ 89,464

Loans and Allowance for Loan _3

Loans and Allowance for Loan Losses (Details Narrative) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Receivables [Abstract]
Real estate loans	$ 290,845,939		$ 283,277,489
Loans pledged	63,566,962
FHLB Blanket lien and multifamily portfolios total	118,587,401
Loans placed on nonaccrual status amount	1,794,349		1,204,861
Past due loan over ninety days and still accruing	842		0
Interest income on nonaccrual	27,027		64,015
Impaired loans	4,760,022		4,356,381
Allowance for loan losses	726,871		518,230
Average impaired loans	4,434,451
Interest income received during impairment		$ 125,729
Troubled debt restructuring	3,834		7,458
Troubled debt restructuring, charge -off	0		0
Allowance for loan losses allocated to TDRs	3,834		$ 0
Unfunded commitments troubled debt restructured loan to lend to customer	$ 0
Annualized net charge-offs to average loans outstanding ratio	0.17%		0.13%
Individually evaluated for impairment	$ 4,760,022		$ 4,505,505
Deemed impaired loans	$ 4,760,022		$ 4,356,381

Loans and Allowance for Loan _4

Loans and Allowance for Loan Losses - Schedule of Loan Portfolio and Percentage of Loans in Each Category to Total Loans (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Loans outstanding	$ 388,285,673	$ 376,767,688
Unearned interest and discount	(17,390)	(17,451)
Allowance for loan losses	(3,465,140)	(3,428,869)
Net loans	$ 384,803,166	$ 373,321,368
Percentage of loan and allowance for loan losses	100.00%	100.00%
Commercial, Financial and Agricultural Loans [Member]
Loans outstanding	$ 91,875,926	$ 88,403,215
Percentage of loan and allowance for loan losses	23.70%	23.50%
Construction Loans [Member]
Loans outstanding	$ 22,976,763	$ 24,890,536
Percentage of loan and allowance for loan losses	5.90%	6.60%
Commercial Mortgage Loans [Member]
Loans outstanding	$ 133,594,392	$ 123,477,369
Percentage of loan and allowance for loan losses	34.40%	32.80%
Residential Loans [Member]
Loans outstanding	$ 103,129,466	$ 103,347,898
Percentage of loan and allowance for loan losses	26.60%	27.40%
Agricultural Loans [Member]
Loans outstanding	$ 31,145,318	$ 31,561,686
Percentage of loan and allowance for loan losses	8.00%	8.40%
Consumer and Other Loans [Member]
Loans outstanding	$ 5,563,808	$ 5,086,984
Percentage of loan and allowance for loan losses	1.40%	1.30%

Loans and Allowance for Loan _5

Loans and Allowance for Loan Losses - Summary of Maturities of Loan Portfolio (Details) - Commercial Financial, Agricultural and Construction [Member]	Jun. 30, 2019USD ($)
In one year or less	$ 39,222,998
After one year but within five years	56,744,401
After five years	18,885,290
Total	$ 114,852,689

Loans and Allowance for Loan _6

Loans and Allowance for Loan Losses - Summary of Loans Due After One Year (Details) - Commercial Financial, Agricultural and Construction [Member]	Jun. 30, 2019USD ($)
Loans With Predetermined Rates	$ 74,706,251
Loans With Floating Rates	923,440
Total	$ 75,629,691

Loans and Allowance for Loan _7

Loans and Allowance for Loan Losses - Schedule of Past Due Loans and Nonaccrual Loans (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Total Past Due Loans	$ 2,048,148	$ 2,166,283
Nonaccrual Loans	1,794,349	1,204,861
Current Loans	384,443,176	373,396,544
Total Loans	388,285,673	376,767,688
Financing Receivables, 30 to 89 Days Past Due [Member]
Total Past Due Loans	2,047,306	2,166,283
Financing Receivables, Greater than 90 Days Past Due [Member]
Total Past Due Loans	842	0
Commercial, Financial and Agricultural Loans [Member]
Total Past Due Loans	1,068,658	247,397
Nonaccrual Loans	7,204	36,157
Current Loans	90,800,064	88,119,661
Total Loans	91,875,926	88,403,215
Commercial, Financial and Agricultural Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member]
Total Past Due Loans	1,067,816	247,397
Commercial, Financial and Agricultural Loans [Member] | Financing Receivables, Greater than 90 Days Past Due [Member]
Total Past Due Loans	842	0
Construction Loans [Member]
Total Past Due Loans	91,289	0
Nonaccrual Loans	185,238	0
Current Loans	22,700,236	24,890,536
Total Loans	22,976,763	24,890,536
Construction Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member]
Total Past Due Loans	91,289	0
Construction Loans [Member] | Financing Receivables, Greater than 90 Days Past Due [Member]
Total Past Due Loans	0	0
Commercial Mortgage Loans [Member]
Total Past Due Loans	36,998	0
Nonaccrual Loans	750,001	1,022,550
Current Loans	132,807,393	122,454,819
Total Loans	133,594,392	123,477,369
Commercial Mortgage Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member]
Total Past Due Loans	36,998	0
Commercial Mortgage Loans [Member] | Financing Receivables, Greater than 90 Days Past Due [Member]
Total Past Due Loans	0	0
Residential Loans [Member]
Total Past Due Loans	534,965	1,560,913
Nonaccrual Loans	851,906	146,154
Current Loans	101,742,595	101,640,831
Total Loans	103,129,466	103,347,898
Residential Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member]
Total Past Due Loans	534,965	1,560,913
Residential Loans [Member] | Financing Receivables, Greater than 90 Days Past Due [Member]
Total Past Due Loans	0	0
Agricultural Loans [Member]
Total Past Due Loans	301,144	321,319
Nonaccrual Loans	0	0
Current Loans	30,844,174	31,240,367
Total Loans	31,145,318	31,561,686
Agricultural Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member]
Total Past Due Loans	301,144	321,319
Agricultural Loans [Member] | Financing Receivables, Greater than 90 Days Past Due [Member]
Total Past Due Loans	0	0
Consumer and Other Loans [Member]
Total Past Due Loans	15,094	36,654
Nonaccrual Loans	0	0
Current Loans	5,548,714	5,050,330
Total Loans	5,563,808	5,086,984
Consumer and Other Loans [Member] | Financing Receivables, 30 to 89 Days Past Due [Member]
Total Past Due Loans	15,094	36,654
Consumer and Other Loans [Member] | Financing Receivables, Greater than 90 Days Past Due [Member]
Total Past Due Loans	$ 0	$ 0

Loans and Allowance for Loan _8

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, 2019	Dec. 31, 2018
Unpaid Principal Balance	$ 5,417,827	$ 4,187,966
Recorded Investment With No Allowance	1,568,668	2,686,743
Recorded Investment With Allowance	3,191,354	1,669,638
Total Recorded Investment	4,760,022	4,356,381
Related Allowance	726,871	518,230
Year-to-date Average Recorded Investment	3,274,067	3,817,174
Interest Income Received During Impairment	100,972	257,334
Commercial, Financial and Agricultural Loans [Member]
Unpaid Principal Balance	1,299,434	184,899
Recorded Investment With No Allowance	113,251	87,525
Recorded Investment With Allowance	1,099,529	568,816
Total Recorded Investment	1,212,780	656,341
Related Allowance	433,815	276,392
Year-to-date Average Recorded Investment	587,074	370,038
Interest Income Received During Impairment	19,703	52,411
Construction Loans [Member]
Unpaid Principal Balance	395,314	402,234
Recorded Investment With No Allowance	274,514	281,434
Recorded Investment With Allowance	0	0
Total Recorded Investment	274,514	281,434
Related Allowance	0	0
Year-to-date Average Recorded Investment	274,514	281,434
Interest Income Received During Impairment	8,685	25,364
Commercial Mortgage Loans [Member]
Unpaid Principal Balance	1,653,696	1,787,305
Recorded Investment With No Allowance	255,248	1,277,611
Recorded Investment With Allowance	948,097	333,892
Total Recorded Investment	1,203,345	1,611,503
Related Allowance	46,865	51,854
Year-to-date Average Recorded Investment	1,045,411	1,544,299
Interest Income Received During Impairment	21,738	45,403
Residential Loans [Member]
Unpaid Principal Balance	2,055,845	1,801,002
Recorded Investment With No Allowance	925,655	1,027,647
Recorded Investment With Allowance	1,130,190	752,443
Total Recorded Investment	2,055,845	1,780,090
Related Allowance	245,169	188,368
Year-to-date Average Recorded Investment	1,353,530	1,594,390
Interest Income Received During Impairment	50,357	127,806
Agricultural Loans [Member]
Unpaid Principal Balance	0	12,526
Recorded Investment With No Allowance	0	12,526
Recorded Investment With Allowance	0	0
Total Recorded Investment	0	12,526
Related Allowance	0	0
Year-to-date Average Recorded Investment	0	12,526
Interest Income Received During Impairment	0	5,530
Consumer and Other Loans [Member]
Unpaid Principal Balance	13,538	0
Recorded Investment With No Allowance	0	0
Recorded Investment With Allowance	13,538	14,487
Total Recorded Investment	13,538	14,487
Related Allowance	1,022	1,616
Year-to-date Average Recorded Investment	13,538	14,487
Interest Income Received During Impairment	$ 489	$ 820

Loans and Allowance for Loan _9

Loans and Allowance for Loan Losses - Schedule of Troubled Debt Restructuring by Loan Class (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Troubled Debt Restructuring	$ 3,834	$ 7,458
Current [Member]
Troubled Debt Restructuring	3,834	7,458
Default [Member]
Troubled Debt Restructuring	0	0
Accruing [Member]
Troubled Debt Restructuring	3,834	7,458
Non-accruing [Member]
Troubled Debt Restructuring	0	0
Commercial, Financial and Agricultural Loans [Member] | Current [Member]
Troubled Debt Restructuring	3,834	5,570
Commercial, Financial and Agricultural Loans [Member] | Default [Member]
Troubled Debt Restructuring	0	0
Commercial, Financial and Agricultural Loans [Member] | Accruing [Member]
Troubled Debt Restructuring	3,834	5,570
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	0	1,888
Residential Loans [Member] | Default [Member]
Troubled Debt Restructuring	0	0
Residential Loans [Member] | Accruing [Member]
Troubled Debt Restructuring	0	1,888
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	0	0
Consumer and Other Loans [Member] | Default [Member]
Troubled Debt Restructuring	0	0
Consumer and Other Loans [Member] | Accruing [Member]
Troubled Debt Restructuring	0	0
Consumer and Other Loans [Member] | Non-accruing [Member]
Troubled Debt Restructuring	$ 0	$ 0

Loans and Allowance for Loan_10

Loans and Allowance for Loan Losses - Schedule of Troubled Debt Restructurings by Types of Concessions Made (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Accruing [Member]
Payment modification	$ 0	$ 0
Rate reduction	0	0
Rate reduction, payment modification	3,834	1,888
Forbearance of interest	0	5,570
Total	3,834	7,458
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_11

Loans and Allowance for Loan Losses - Schedule of Internal Loan Grading by Class of Loans (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Total Loans	$ 388,285,673	$ 376,767,688
Commercial, Financial and Agricultural Loans [Member]
Total Loans	91,875,926	88,403,215
Construction Loans [Member]
Total Loans	22,976,763	24,890,536
Commercial Mortgage Loans [Member]
Total Loans	133,594,392	123,477,369
Residential Loans [Member]
Total Loans	103,129,466	103,347,898
Agricultural Loans [Member]
Total Loans	31,145,318	31,561,686
Consumer and Other Loans [Member]
Total Loans	5,563,808	5,086,984
Rating, Grade 1- Exceptional [Member]
Total Loans	1,802,350	1,470,552
Rating, Grade 1- Exceptional [Member] | Commercial, Financial and Agricultural Loans [Member]
Total Loans	1,543,294	1,237,602
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	22,420	22,905
Rating, Grade 1- Exceptional [Member] | Agricultural Loans [Member]
Total Loans	0	0
Rating, Grade 1- Exceptional [Member] | Consumer and Other Loans [Member]
Total Loans	236,636	210,045
Rating, Grade 2- Above Avg. [Member]
Total Loans	63,968	43,711
Rating, Grade 2- Above Avg. [Member] | Commercial, Financial and Agricultural Loans [Member]
Total Loans	25,350	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	38,618	43,711
Rating, Grade 3- Acceptable [Member]
Total Loans	101,482,179	99,934,655
Rating, Grade 3- Acceptable [Member] | Commercial, Financial and Agricultural Loans [Member]
Total Loans	24,747,422	23,821,846
Rating, Grade 3- Acceptable [Member] | Construction Loans [Member]
Total Loans	2,879,744	1,860,003
Rating, Grade 3- Acceptable [Member] | Commercial Mortgage Loans [Member]
Total Loans	29,292,207	30,398,565
Rating, Grade 3- Acceptable [Member] | Residential Loans [Member]
Total Loans	26,036,145	25,839,646
Rating, Grade 3- Acceptable [Member] | Agricultural Loans [Member]
Total Loans	16,574,101	16,863,356
Rating, Grade 3- Acceptable [Member] | Consumer and Other Loans [Member]
Total Loans	1,952,560	1,151,239
Rating, Grade 4- Fair [Member]
Total Loans	271,696,768	261,095,735
Rating, Grade 4- Fair [Member] | Commercial, Financial and Agricultural Loans [Member]
Total Loans	63,975,074	58,753,931
Rating, Grade 4- Fair [Member] | Construction Loans [Member]
Total Loans	19,696,504	22,749,099
Rating, Grade 4- Fair [Member] | Commercial Mortgage Loans [Member]
Total Loans	99,705,018	88,122,957
Rating, Grade 4- Fair [Member] | Residential Loans [Member]
Total Loans	70,431,427	73,114,310
Rating, Grade 4- Fair [Member] | Agricultural Loans [Member]
Total Loans	14,571,217	14,698,330
Rating, Grade 4- Fair [Member] | Consumer and Other Loans [Member]
Total Loans	3,317,528	3,657,108
Rating, Grade 5a- Watch [Member]
Total Loans	5,941,811	3,613,973
Rating, Grade 5a- Watch [Member] | Commercial, Financial and Agricultural Loans [Member]
Total Loans	1,391,027	473,616
Rating, Grade 5a- Watch [Member] | Construction Loans [Member]
Total Loans	274,515	0
Rating, Grade 5a- Watch [Member] | Commercial Mortgage Loans [Member]
Total Loans	1,472,301	2,411,710
Rating, Grade 5a- Watch [Member] | Residential Loans [Member]
Total Loans	2,788,321	722,441
Rating, Grade 5a- Watch [Member] | Agricultural Loans [Member]
Total Loans	0	0
Rating, Grade 5a- Watch [Member] | Consumer and Other Loans [Member]
Total Loans	15,647	6,206
Rating, Grade 5b- OAEM [Member]
Total Loans	2,940,088	4,827,694
Rating, Grade 5b- OAEM [Member] | Commercial, Financial and Agricultural Loans [Member]
Total Loans	3,807	3,079,098
Rating, Grade 5b- OAEM [Member] | Construction Loans [Member]
Total Loans	0	0
Rating, Grade 5b- OAEM [Member] | Commercial Mortgage Loans [Member]
Total Loans	2,476,833	446,841
Rating, Grade 5b- OAEM [Member] | Residential Loans [Member]
Total Loans	456,629	1,299,587
Rating, Grade 5b- OAEM [Member] | Agricultural Loans [Member]
Total Loans	0	0
Rating, Grade 5b- OAEM [Member] | Consumer and Other Loans [Member]
Total Loans	2,819	2,168
Rating, Grade 6- Substandard [Member]
Total Loans	4,114,524	5,531,555
Rating, Grade 6- Substandard [Member] | Commercial, Financial and Agricultural Loans [Member]
Total Loans	0	787,309
Rating, Grade 6- Substandard [Member] | Construction Loans [Member]
Total Loans	126,000	281,434
Rating, Grade 6- Substandard [Member] | Commercial Mortgage Loans [Member]
Total Loans	648,033	2,097,296
Rating, Grade 6- Substandard [Member] | Residential Loans [Member]
Total Loans	3,340,491	2,349,009
Rating, Grade 6- Substandard [Member] | Agricultural Loans [Member]
Total Loans	0	0
Rating, Grade 6- Substandard [Member] | Consumer and Other Loans [Member]
Total Loans	0	16,507
Rating, Grade 7- Doubtful [Member]
Total Loans	243,985	249,813
Rating, Grade 7- Doubtful [Member] | Commercial, Financial and Agricultural Loans [Member]
Total Loans	189,952	249,813
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	54,033	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_12

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, 2019	Jun. 30, 2019	Dec. 31, 2018
Beginning balance	$ 3,366,927	$ 3,428,869	$ 3,043,632
Charge-offs	198,848	383,544	606,345
Recoveries	46,671	53,517	162,082
Net charge-offs	152,177	330,027	444,263
Provisions charged to operations	250,390	366,298	829,500
Individually evaluated for impairment	726,871	726,871	518,230
Collectively evaluated for impairment	2,738,269	2,738,269	2,910,639
Balance at end of period	3,465,140	3,465,140	3,428,869
Individually evaluated for impairment	4,760,022	4,760,022	4,505,505
Collectively evaluated for impairment	383,525,651	383,525,651	372,262,183
Balance at end of period	388,285,673	388,285,673	376,767,688
Commercial, Financial and Agricultural [Member]
Beginning balance	503,322	402,251	324,260
Charge-offs	102,217	102,217	548,460
Recoveries	9,484	12,180	12,025
Net charge-offs	92,733	90,037	536,435
Provisions charged to operations	122,964	221,339	614,426
Individually evaluated for impairment	433,815	433,815	276,392
Collectively evaluated for impairment	99,738	99,738	125,859
Balance at end of period	533,553	533,553	402,251
Individually evaluated for impairment	1,212,780	1,212,780	656,341
Collectively evaluated for impairment	90,663,146	90,663,146	87,746,874
Balance at end of period	91,875,926	91,875,926	88,403,215
Construction Real Estate [Member]
Beginning balance	1,043,027	1,043,027	1,043,083
Charge-offs	0	0	783
Recoveries	0	0	0
Net charge-offs	0	0	783
Provisions charged to operations	0	0	727
Individually evaluated for impairment	0	0	0
Collectively evaluated for impairment	1,043,027	1,043,027	1,043,027
Balance at end of period	1,043,027	1,043,027	1,043,027
Individually evaluated for impairment	274,514	274,514	281,434
Collectively evaluated for impairment	22,702,249	22,702,249	24,609,102
Balance at end of period	22,976,763	22,976,763	24,890,536
Commercial Real Estate [Member]
Beginning balance	1,077,669	1,210,302	1,056,595
Charge-offs	89,853	274,549	43,349
Recoveries	0	3,368	590
Net charge-offs	89,853	271,181	42,759
Provisions charged to operations	138,429	187,124	196,466
Individually evaluated for impairment	46,865	46,865	51,854
Collectively evaluated for impairment	1,079,380	1,079,380	1,158,448
Balance at end of period	1,126,245	1,126,245	1,210,302
Individually evaluated for impairment	1,203,345	1,203,345	1,611,503
Collectively evaluated for impairment	120,554,224	120,554,224	121,865,866
Balance at end of period	121,855,453	121,855,453	123,477,369
Residential Real Estate [Member]
Beginning balance	458,871	458,871	416,474
Charge-offs	0	0	6,909
Recoveries	35,940	35,940	0
Net charge-offs	(35,940)	(35,940)	6,909
Provisions charged to operations	(15,848)	(15,848)	49,306
Individually evaluated for impairment	245,169	245,169	188,368
Collectively evaluated for impairment	233,794	233,794	270,503
Balance at end of period	478,963	478,963	458,871
Individually evaluated for impairment	2,055,845	2,055,845	1,929,214
Collectively evaluated for impairment	101,073,621	101,073,621	101,418,684
Balance at end of period	103,129,466	103,129,466	103,347,898
Agricultural Real Estate [Member]
Beginning balance	76,880	108,878	11,560
Charge-offs	0	0	0
Recoveries	0	0	147,252
Net charge-offs	0	0	(147,252)
Provisions charged to operations	0	(31,998)	(49,934)
Individually evaluated for impairment	0	0	0
Collectively evaluated for impairment	76,880	76,880	108,878
Balance at end of period	76,880	76,880	108,878
Individually evaluated for impairment	0	0	12,526
Collectively evaluated for impairment	31,145,318	31,145,318	31,549,160
Balance at end of period	31,145,318	31,145,318	31,561,686
Consumer and Other [Member]
Beginning balance	207,158	205,540	191,660
Charge-offs	6,778	6,778	6,844
Recoveries	1,247	2,029	2,215
Net charge-offs	5,531	4,749	4,629
Provisions charged to operations	4,845	5,681	18,509
Individually evaluated for impairment	1,022	1,022	1,616
Collectively evaluated for impairment	205,450	205,450	203,924
Balance at end of period	206,472	206,472	205,540
Individually evaluated for impairment	13,538	13,538	14,487
Collectively evaluated for impairment	5,550,270	5,550,270	5,072,497
Balance at end of period	$ 5,563,808	$ 5,563,808	$ 5,086,984