Community Bancorp (CMTV) 10-Q 7 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Nov. 04, 2019
Document And Entity Information
Entity Registrant Name	Community Bancorp /VT
Entity Central Index Key	0000718413
Document Type	10-Q
Document Period End Date	Sep. 30, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity's Reporting Status Current	Yes
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		5,223,408
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2019

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Assets
Cash and due from banks	$ 17,073,112	$ 14,906,529
Federal funds sold and overnight deposits	29,525,448	53,028,286
Total cash and cash equivalents	46,598,560	67,934,815
Securities available-for-sale	42,579,295	39,366,831
Restricted equity securities, at cost	1,379,850	1,749,450
Loans held-for-sale	1,322,338	0
Loans	604,107,288	578,450,517
Allowance for loan losses	(5,883,642)	(5,602,541)
Deferred net loan costs	360,390	363,614
Net loans	598,584,036	573,211,590
Bank premises and equipment, net	10,928,528	9,713,455
Accrued interest receivable	2,161,899	2,300,841
Bank owned life insurance	4,880,813	4,814,099
Goodwill	11,574,269	11,574,269
Other real estate owned	73,448	201,386
Other assets	9,148,905	9,480,762
Total assets	729,231,941	720,347,498
Deposits:
Demand, non-interest bearing	128,574,014	122,430,805
Interest-bearing transaction accounts	167,089,977	177,815,417
Money market funds	96,309,501	85,261,685
Savings	98,240,128	93,129,875
Time deposits, $250,000 and over	13,929,934	14,395,291
Other time deposits	102,243,694	115,783,492
Total deposits	606,387,248	608,816,565
Borrowed funds	1,550,000	1,550,000
Repurchase agreements	35,769,931	30,521,565
Junior subordinated debentures	12,887,000	12,887,000
Accrued interest and other liabilities	5,316,474	3,968,657
Total liabilities	661,910,653	657,743,787
Shareholders' Equity
Preferred stock, 1,000,000 shares authorized, 15 and 20 shares issued and outstanding in 2019 and 2018, respectively ($100,000 liquidation value)	1,500,000	2,000,000
Common stock - $2.50 par value; 15,000,000 shares authorized, 5,432,809 shares issued at 09/30/19 and 5,382,103 shares issued at 12/31/18	13,582,023	13,455,258
Additional paid-in capital	33,239,064	32,536,532
Retained earnings	21,307,847	17,882,282
Accumulated other comprehensive income (loss)	315,131	(647,584)
Less: treasury stock, at cost; 210,101 shares at 09/30/19 and 12/31/18	(2,622,777)	(2,622,777)
Total shareholders' equity	67,321,288	62,603,711
Total liabilities and shareholders' equity	$ 729,231,941	$ 720,347,498
Book value per common share outstanding	$ 12.6	$ 11.72

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Shareholder's Equity
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	15	20
Preferred stock, shares outstanding (in shares)	15	20
Preferred stock liquidation value	$ 100,000	$ 100,000
Common stock par value (in dollars per share)	$ 2.50	$ 2.50
Common stock, shares authorized (in shares)	15,000,000	15,000,000
Common stock, shares issued (in shares)	5,432,809	5,382,103
Treasury stock (in shares)	210,101	210,101

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Interest income
Interest and fees on loans	$ 7,452,084	$ 7,166,414	$ 22,491,903	$ 20,317,095
Interest on taxable debt securities	302,063	228,497	820,197	652,398
Dividends	24,301	36,587	77,048	96,135
Interest on federal funds sold and overnight deposits	128,006	85,524	478,097	257,091
Total interest income	7,906,454	7,517,022	23,867,245	21,322,719
Interest expense
Interest on deposits	1,256,864	920,361	3,820,084	2,326,812
Interest on borrowed funds	6,304	65,074	21,310	90,199
Interest on repurchase agreements	74,510	60,049	220,411	128,896
Interest on junior subordinated debentures	171,355	174,661	532,722	481,486
Total interest expense	1,509,033	1,220,145	4,594,527	3,027,393
Net interest income	6,397,421	6,296,877	19,272,718	18,295,326
Provision for loan losses	412,499	210,000	766,668	570,000
Net interest income after provision for loan losses	5,984,922	6,086,877	18,506,050	17,725,326
Non-interest income
Service fees	867,688	820,956	2,478,711	2,401,769
Income from sold loans	203,175	212,105	434,951	586,434
Other income from loans	235,883	232,485	598,136	643,107
Net realized gain (loss) on sale of securities AFS	331	(9,741)	331	(19,977)
Other income	290,255	286,988	838,041	1,017,292
Total non-interest income	1,597,332	1,542,793	4,350,170	4,628,625
Non-interest expense
Salaries and wages	1,817,931	1,730,386	5,453,791	5,260,388
Employee benefits	785,187	695,735	2,367,866	2,092,039
Occupancy expenses, net	606,629	629,389	1,939,742	1,961,859
Other expenses	1,653,969	1,818,822	5,337,301	5,395,138
Total non-interest expense	4,863,716	4,874,332	15,098,700	14,709,424
Income before income taxes	2,718,538	2,755,338	7,757,520	7,644,527
Income tax expense	456,595	485,606	1,304,374	1,389,598
Net income	$ 2,261,943	$ 2,269,732	$ 6,453,146	$ 6,254,929
Earnings per common share	$ 0.43	$ 0.44	$ 1.23	$ 1.20
Weighted average number of common shares used in computing earnings per share	5,212,162	5,146,817	5,196,630	5,131,654
Dividends declared per common share	$ 0.19	$ 0.19	$ 0.57	$ 0.55

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 2,261,943	$ 2,269,732	$ 6,453,146	$ 6,254,929
Other comprehensive income (loss), net of tax:
Unrealized holding gain (loss) on securities AFS arising during the period	199,767	(175,306)	1,218,958	(879,673)
Reclassification adjustment for (gain) loss realized in income	(331)	9,741	(331)	19,977
Unrealized gain (loss) during the period	199,436	(165,565)	1,218,627	(859,696)
Tax effect	(41,881)	34,768	(255,912)	180,537
Other comprehensive income (loss), net of tax	157,555	(130,797)	962,715	(679,159)
Total comprehensive income	$ 2,419,498	$ 2,138,935	$ 7,415,861	$ 5,575,770

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($)	Common Stock	Preferred Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income	Treasury Stock	Total
Beginning Balance at Dec. 31, 2017	$ 13,305,800	$ 2,500,000	$ 31,639,189	$ 13,387,739	$ (274,097)	$ (2,622,777)	$ 57,935,854
Issuance of common stock	33,345		207,208				240,553
Cash dividends declared - common stock				(869,128)			(869,128)
Cash dividends declared - preferred stock				(28,125)			(28,125)
Redemption of preferred stock		(500,000)					(500,000)
Comprehensive income
Net income				1,982,543			1,982,543
Other comprehensive loss					(452,876)		(452,876)
Ending Balance at Mar. 31, 2018	13,339,145	2,000,000	31,846,397	14,473,029	(726,973)	(2,622,777)	58,308,821
Beginning Balance at Dec. 31, 2017	13,305,800	2,500,000	31,639,189	13,387,739	(274,097)	(2,622,777)	57,935,854
Comprehensive income
Net income							6,254,929
Other comprehensive loss							(679,159)
Ending Balance at Sep. 30, 2018	13,418,398	2,000,000	32,303,813	16,745,737	(953,256)	(2,622,777)	60,891,915
Beginning Balance at Mar. 31, 2018	13,339,145	2,000,000	31,846,397	14,473,029	(726,973)	(2,622,777)	58,308,821
Issuance of common stock	36,183		202,203				238,386
Cash dividends declared - common stock				(973,992)			(973,992)
Cash dividends declared - preferred stock				(23,750)			(23,750)
Comprehensive income
Net income				2,002,654			2,002,654
Other comprehensive loss					(95,486)		(95,486)
Ending Balance at Jun. 30, 2018	13,375,328	2,000,000	32,048,600	15,477,941	(822,459)	(2,622,777)	59,456,633
Issuance of common stock	43,070		255,213				298,283
Cash dividends declared - common stock				(976,936)			(976,936)
Cash dividends declared - preferred stock				(25,000)			(25,000)
Comprehensive income
Net income				2,269,732			2,269,732
Other comprehensive loss					(130,797)		(130,797)
Ending Balance at Sep. 30, 2018	13,418,398	2,000,000	32,303,813	16,745,737	(953,256)	(2,622,777)	60,891,915
Beginning Balance at Dec. 31, 2018	13,455,258	2,000,000	32,536,532	17,882,282	(647,584)	(2,622,777)	62,603,711
Issuance of common stock	49,415		263,611				313,026
Cash dividends declared - common stock				(983,122)			(983,122)
Cash dividends declared - preferred stock				(27,500)			(27,500)
Redemption of preferred stock		(500,000)					(500,000)
Comprehensive income
Net income				1,771,905			1,771,905
Other comprehensive loss					451,690		451,690
Ending Balance at Mar. 31, 2019	13,504,673	1,500,000	32,800,143	18,643,565	(195,894)	(2,622,777)	63,629,710
Beginning Balance at Dec. 31, 2018	13,455,258	2,000,000	32,536,532	17,882,282	(647,584)	(2,622,777)	62,603,711
Comprehensive income
Net income							6,453,146
Other comprehensive loss							962,715
Ending Balance at Sep. 30, 2019	13,582,023	1,500,000	33,239,064	21,307,847	315,131	(2,622,777)	67,321,288
Beginning Balance at Mar. 31, 2019	13,504,673	1,500,000	32,800,143	18,643,565	(195,894)	(2,622,777)	63,629,710
Issuance of common stock	41,825		234,664				276,489
Cash dividends declared - common stock				(986,368)			(986,368)
Cash dividends declared - preferred stock				(20,625)			(20,625)
Comprehensive income
Net income				2,419,298			2,419,298
Other comprehensive loss					353,470		353,470
Ending Balance at Jun. 30, 2019	13,546,498	1,500,000	33,034,807	20,055,870	157,576	(2,622,777)	65,671,974
Issuance of common stock	35,525		204,257				239,782
Cash dividends declared - common stock				(989,341)			(989,341)
Cash dividends declared - preferred stock				(20,625)			(20,625)
Comprehensive income
Net income				2,261,943			2,261,943
Other comprehensive loss					157,555		157,555
Ending Balance at Sep. 30, 2019	$ 13,582,023	$ 1,500,000	$ 33,239,064	$ 21,307,847	$ 315,131	$ (2,622,777)	$ 67,321,288

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash Flows from Operating Activities:
Net income	$ 6,453,146	$ 6,254,929
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization, bank premises and equipment	689,813	736,352
Provision for loan losses	766,668	570,000
Deferred income tax provision (credit)	56,925	(70,716)
Net realized (gain) loss on sale of securities AFS	(331)	19,977
Gain on sale of loans	(158,201)	(265,035)
Gain on sale of bank premises and equipment	0	(260,013)
Loss on sale of OREO	817	2,397
Income from CFS Partners	(482,185)	(429,786)
Amortization of bond premium, net	81,354	98,245
Write down on OREO	95,008	0
Proceeds from sales of loans held for sale	6,169,639	8,702,602
Originations of loans held for sale	(7,333,776)	(7,860,877)
(Decrease) increase in taxes payable	(96,632)	292,201
Decrease (increase) in interest receivable	138,942	(164,070)
Decrease in mortgage servicing rights	83,833	62,413
Decrease in right-of-use assets	176,361	0
Decrease in operating lease liabilities	(169,761)	0
Decrease (increase) in other assets	279,923	(775,983)
Increase in cash surrender value of BOLI	(66,714)	(68,811)
Amortization of limited partnerships	234,081	283,113
Decrease (increase) in unamortized loan costs	3,224	(34,897)
Increase in interest payable	33,148	44,079
Increase in accrued expenses	158,337	103,133
Decrease in other liabilities	(89,035)	(35,961)
Net cash provided by operating activities	7,024,584	7,203,292
Cash Flows from Investing Activities:
Investments - AFS: Maturities, calls, pay downs and sales	12,124,796	6,896,563
Investments - AFS: Purchases	(14,199,656)	(8,351,213)
Proceeds from redemption of restricted equity securities	493,600	1,147,500
Purchases of restricted equity securities	(124,000)	(1,188,500)
Decrease in limited partnership contributions payable	0	(486,250)
Increase in loans, net	(26,271,976)	(30,346,971)
Capital expenditures net of proceeds from sales of bank premises and equipment	(590,468)	168,098
Proceeds from sales of OREO	105,561	333,503
Recoveries of loans charged off	56,190	114,960
Net cash used in investing activities	(28,405,953)	(31,712,310)
Cash Flows from Financing Activities:
Net (decrease) increase in demand and interest-bearing transaction accounts	(4,582,231)	12,361,306
Net increase (decrease) in money market and savings accounts	16,158,069	(7,982,921)
Net (decrease) increase in time deposits	(14,005,155)	20,471,357
Net increase in repurchase agreements	5,248,366	2,030,982
Repayments on long-term borrowings	0	(2,000,000)
Decrease in finance lease obligations	(92,614)	(85,416)
Redemption of preferred stock	(500,000)	(500,000)
Dividends paid on preferred stock	(68,750)	(76,875)
Dividends paid on common stock	(2,112,571)	(1,965,241)
Net cash used in financing activities	45,114	22,253,192
Net decrease in cash and cash equivalents	(21,336,255)	(2,255,826)
Cash and cash equivalents:
Beginning	67,934,815	42,653,501
Ending	46,598,560	40,397,675
Supplemental Schedule of Cash Paid During the Period:
Interest	4,561,379	2,983,314
Income taxes, net of refunds	1,110,000	885,000
Supplemental Schedule of Noncash Investing and Financing Activities:
Change in unrealized gain (loss) on securities AFS	1,218,627	(859,696)
Loans transferred to OREO	73,448	249,900
Common Shares Dividends Paid:
Dividends declared	2,958,831	2,820,056
Increase in dividends payable attributable to dividends declared	(16,963)	(77,593)
Dividends reinvested	(829,297)	(777,222)
Total	$ 2,112,571	$ 1,965,241

1. Basis of Presentation and Co

1. Basis of Presentation and Consolidation	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Note 1. Basis of Presentation and Consolidation	The interim consolidated financial statements of Community Bancorp. and Subsidiary are unaudited. All significant intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments necessary for the fair presentation of the consolidated financial condition and results of operations of the Company and its subsidiary, Community National Bank (the Bank), contained herein have been made. The unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2018 contained in the Company's Annual Report on Form 10-K. The results of operations for the interim period are not necessarily indicative of the results of operations to be expected for the full annual period ending December 31, 2019, or for any other interim period. Certain amounts in the 2018 consolidated financial statements have been reclassified to conform to the 2019 presentation. Reclassifications had no effect on prior period net income or shareholders’ equity. In addition to the definitions provided elsewhere in this quarterly report, the definitions, acronyms and abbreviations identified below are used throughout this report, including in Part I. “Financial Information” and Part II. “Other Information”, and are intended to aid the reader and provide a reference page when reviewing this report. ABS and OAS: Asset backed or other amortizing security FHLBB: Federal Home Loan Bank of Boston ACBB Atlantic Community Bankers Bank FHLMC: Federal Home Loan Mortgage Corporation AFS: Available-for-sale FOMC: Federal Open Market Committee Agency MBS: MBS issued by a US government agency FRB: Federal Reserve Board or GSE FRBB: Federal Reserve Bank of Boston ALCO: Asset Liability Committee GAAP: Generally Accepted Accounting Principles ALL: Allowance for loan losses in the United States AOCI: Accumulated other comprehensive income GSE: Government sponsored enterprise ASC: Accounting Standards Codification HTM: Held-to-maturity ASU: Accounting Standards Update ICS: Insured Cash Sweeps of the Promontory Bancorp: Community Bancorp. Interfinancial Network Bank: Community National Bank IRS: Internal Revenue Service BHG Bankers Healthcare Group JNE: Jobs for New England BIC: Borrower-in-Custody Jr: Junior Board: Board of Directors MBS: Mortgage-backed security BOLI: Bank owned life insurance MPF: Mortgage Partnership Finance bp or bps: Basis point(s) MSRs: Mortgage servicing rights CBLR: Community Bank Leverage Ratio NII: Net interest income CDARS: Certificate of Deposit Accounts Registry NMTC: New Market Tax Credits Service of the Promontory Interfinancial OCI: Other comprehensive income (loss) Network OREO: Other real estate owned CDs: Certificates of deposit OTTI: Other-than-temporary impairment CDI: Core deposit intangible PMI: Private mortgage insurance CECL: Current Expected Credit Loss RD: USDA Rural Development CFSG: Community Financial Services Group, LLC SBA: U.S. Small Business Administration CFS Partners: Community Financial Services Partners, SEC: U.S. Securities and Exchange Commission LLC SERP: Supplemental Employee Retirement Plan Company: Community Bancorp. and Subsidiary TDR: Troubled-debt restructuring CRE: Commercial Real Estate USDA: U.S. Department of Agriculture DDA or DDAs: Demand Deposit Account(s) VA: U.S. Veterans Administration DTC: Depository Trust Company 2017 Tax Act: Tax Cut and Jobs Act of 2017 DRIP: Dividend Reinvestment Plan 2018 Economic Growth, Regulatory Relief and Exchange Act: Securities Exchange Act of 1934 Regulatory Consumer Protection Act of 2018 FASB: Financial Accounting Standards Board Relief Act: FDIC: Federal Deposit Insurance Corporation

2. Recent Accounting Developmen

2. Recent Accounting Developments	9 Months Ended
	Sep. 30, 2019
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Note 2. Recent Accounting Developments	In February 2016, the FASB issued ASU No. 2016-02, Leases In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments A modified version of these requirements also applies to debt securities classified as available for sale, which will require that credit losses on those securities be recorded through an allowance for credit losses rather than a write-down. The ASU may have a material impact on the Company's consolidated financial statements upon adoption as it will require a change in the Company's methodology for calculating its ALL and allowance on unused commitments. The Company will transition from an incurred loss model to an expected loss model, which will likely result in an increase in the ALL upon adoption and may negatively impact the Company’s and the Bank's regulatory capital ratios. The Company has formed a committee to assess the implications of this new pronouncement and transitioned to a software solution for preparing the ALL calculation and related reports that management believes provides the Company with stronger data integrity, ease and efficiency in ALL preparation. The new software solution also provides numerous training opportunities for the appropriate personnel within the Company. The Company has gathered and is continuing to analyze the historical data to serve as a basis for estimating the ALL under CECL and continues to evaluate the impact h e ASU was to be effec ti ve for fisca l years be g inn i n g aft er De c ember 15, 2019, in c lu d ing in teri m p e rio ds w i t hin t ho se fiscal years, with early adoption permitted for fiscal years beginning after December 15, 2018, including interim periods within such years. However, on October 16, 2019, the FASB approved an extended effective date for compliance with the ASU by smaller reporting companies, which are now required to comply with the ASU for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company qualifies for this extension and does not intend to early adopt the ASU at this time. Management will continue to evaluate the Company’s CECL compliance and implementation timetable in light of the extension. In January 2017, the FASB issued ASU No. 2017-04, Intangibles Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment The Company has goodwill from its acquisition of LyndonBank in 2007 and performs an impairment test annually or more frequently if circumstances warrant (see Note 6). In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement

3. Earnings per Common Share

3. Earnings per Common Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Note 3. Earnings per Common Share	Earnings per common share amounts are computed based on the weighted average number of shares of common stock issued during the period (retroactively adjusted for stock splits and stock dividends, if any), including Dividend Reinvestment Plan shares issuable upon reinvestment of dividends declared, and reduced for shares held in treasury. The following tables illustrate the calculation of earnings per common share for the periods presented, as adjusted for the cash dividends declared on the preferred stock: Three Months Ended September 30, 2019 2018 Net income, as reported $ 2,261,943 $ 2,269,732 Less: dividends to preferred shareholders 20,625 25,000 Net income available to common shareholders $ 2,241,318 $ 2,244,732 Weighted average number of common shares used in calculating earnings per share 5,212,162 5,146,817 Earnings per common share $ 0.43 $ 0.44 Nine Months Ended September 30, 2019 2018 Net income, as reported $ 6,453,146 $ 6,254,929 Less: dividends to preferred shareholders 68,750 76,875 Net income available to common shareholders $ 6,384,396 $ 6,178,054 Weighted average number of common shares used in calculating earnings per share 5,196,630 5,131,654 Earnings per common share $ 1.23 $ 1.20

4. Investment Securities

4. Investment Securities	9 Months Ended
	Sep. 30, 2019
Debt Securities, Available-for-sale [Abstract]
Note 4. Investment Securities	Change in Accounting Principle Prior to 2019, the entire balance of the Company’s HTM investment portfolio consisted of Municipal notes. Effective January 1, 2019, and in accordance with ASC 250 (Accounting Changes and Error Corrections), the Company chose to reclassify these debt instruments from the investment portfolio into the loan portfolio. This change represents a voluntary reclassification of municipal debt instruments from classification as investment securities under ASC 320 (Investments – Debt and Equity Securities) to classification as loans under ASC 310 (Receivables). All periods presented have been restated to conform to this change. Accordingly, for all periods presented below, the Company’s investment portfolio consists entirely of AFS investments and municipal debt obligations are reported as a component of the Company’s loan portfolio (See Note 5). The reclassification of the municipal debt instruments in this portfolio did not have a material impact on the Company’s consolidated financial statements or results of operations. Debt securities as of the balance sheet dates consisted of the following: Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value September 30, 2019 U.S. GSE debt securities $ 16,715,156 $ 103,252 $ 10,433 $ 16,807,975 Agency MBS 15,003,111 89,940 54,556 15,038,495 ABS and OAS 1,797,128 88,221 0 1,885,349 Other investments 8,665,000 182,623 147 8,847,476 Total $ 42,180,395 $ 464,036 $ 65,136 $ 42,579,295 December 31, 2018 U.S. GSE debt securities $ 14,010,100 $ 394 $ 259,391 $ 13,751,103 Agency MBS 16,020,892 2,701 449,068 15,574,525 ABS and OAS 1,988,565 3,806 6,242 1,986,129 Other investments 8,167,000 8,472 120,398 8,055,074 Total $ 40,186,557 $ 15,373 $ 835,099 $ 39,366,831 Investments pledged as collateral for repurchase agreements consisted of U.S. GSE debt securities, Agency MBS, ABS and OAS, and CDs. These repurchase agreements mature daily. These investments as of the balance sheet dates were as follows: Amortized Fair Cost Value September 30, 2019 $ 42,180,395 $ 42,579,295 December 31, 2018 40,186,557 39,366,831 The scheduled maturities of debt securities as of the balance sheet dates were as follows: Amortized Fair Cost Value September 30, 2019 Due in one year or less $ 1,521,908 $ 1,522,901 Due from one to five years 12,633,885 12,807,696 Due from five to ten years 12,041,660 12,217,358 Due after ten years 979,831 992,845 Agency MBS 15,003,111 15,038,495 Total $ 42,180,395 $ 42,579,295 December 31, 2018 Due from one to five years $ 12,714,642 $ 12,519,008 Due from five to ten years 11,451,023 11,273,298 Agency MBS 16,020,892 15,574,525 Total $ 40,186,557 $ 39,366,831 Agency MBS are not due at a single maturity date and have not been allocated to maturity groupings for purposes of the maturity table. Debt securities with unrealized losses as of the balance sheet dates are presented in the table below. Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Number of Fair Unrealized Value Loss Value Loss Securities Value Loss September 30, 2019 U.S. GSE debt securities $ 1,999,231 $ 769 $ 1,990,336 $ 9,664 2 $ 3,989,567 $ 10,433 Agency MBS 1,845,095 3,306 5,662,969 51,250 18 7,508,064 54,556 Other investments 0 0 247,853 147 3 247,853 147 Total $ 3,844,326 $ 4,075 $ 7,901,158 $ 61,061 23 $ 11,745,484 $ 65,136 December 31, 2018 U.S. GSE debt securities $ 1,465,947 $ 6,752 $ 11,284,761 $ 252,639 11 $ 12,750,708 $ 259,391 Agency MBS 2,317,838 22,029 12,223,386 427,039 24 14,541,224 449,068 ABS and OAS 976,226 6,242 0 0 1 976,226 6,242 Other investments 1,956,914 20,086 4,113,688 100,312 25 6,070,602 120,398 Total $ 6,716,925 $ 55,109 $ 27,621,835 $ 779,990 61 $ 34,338,760 $ 835,099 The unrealized losses for all periods presented were principally attributable to changes in prevailing interest rates for similar types of securities and not deterioration in the creditworthiness of the issuer. Management evaluates its investment securities for OTTI at least on a quarterly basis, and more frequently when economic or market conditions, or adverse developments relating to the issuer, warrant such evaluation. Consideration is given to (1) the length of time and the extent to which the fair value has been less than the carrying value, (2) the financial condition and near-term prospects of the issuer, and (3) the intent and ability of the Company to retain its investment for a period of time sufficient to allow for any anticipated recovery in fair value. In analyzing an issuer's financial condition, management considers whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies or other adverse developments in the status of the securities have occurred, and the results of reviews of the issuer's financial condition. As of September 30, 2019 and December 31, 2018, there were no declines in the fair value of any of the securities reflected in the table above that were deemed by management to be OTTI.

5. Loans, Allowance for Loan Lo

5. Loans, Allowance for Loan Losses and Credit Quality	9 Months Ended
	Sep. 30, 2019
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Note 5. Loans, Allowance for Loan Losses and Credit Quality	Change in Accounting Principle As disclosed in Note 4 (Investment Securities), effective January 1, 2019 and in accordance with ASC 250 (Accounting Changes and Error Corrections), the Company chose to reclassify its municipal debt instruments from the investment portfolio into the loan portfolio. This change represents a voluntary reclassification of municipal debt instruments by management from classification as investment securities under ASC 320 (Investments – Debt and Equity Securities) to classification as loans under ASC 310 (Receivables). As stated in Note 4, the reclassification of this portfolio did not have a material impact on the Company’s consolidated financial statements or results of operations. The composition of net loans as of the balance sheet dates was as follows: September 30, December 31, 2019 2018 Commercial & industrial $ 92,644,869 $ 80,766,693 Commercial real estate 249,599,721 235,318,148 Municipal (1) 51,935,005 47,067,023 Residential real estate - 1st lien 161,056,228 165,665,175 Residential real estate - Jr lien 44,161,727 44,544,987 Consumer 4,709,738 5,088,491 Total loans 604,107,288 578,450,517 Deduct (add): ALL 5,883,642 5,602,541 Deferred net loan costs (360,390 ) (363,614 ) Net loans $ 598,584,036 $ 573,211,590 (1) Prior to 2019, all loans in this category were reported as HTM securities as a component of Investment Securities (see Note 4). All periods presented have been restated to conform to the reclassification. The following is an age analysis of loans (including non-accrual) as of the balance sheet dates, by portfolio segment: September 30, 2019 30-89 Days 90 Days Total Current Total Non-Accrual 90 Days or Commercial & industrial $ 174,959 $ 162,330 $ 337,289 $ 92,307,580 $ 92,644,869 $ 570,171 $ 0 Commercial real estate 536,098 261,321 797,419 248,802,302 249,599,721 1,746,986 0 Municipal 0 0 0 51,935,005 51,935,005 0 0 Residential real estate - 1st lien 1,896,729 2,166,286 4,063,015 156,993,213 161,056,228 2,754,912 969,072 - Jr lien 475,345 294,600 769,945 43,391,782 44,161,727 266,815 181,477 Consumer 24,426 0 24,426 4,685,312 4,709,738 0 0 Totals $ 3,107,557 $ 2,884,537 $ 5,992,094 $ 598,115,194 $ 604,107,288 $ 5,338,884 $ 1,150,549 December 31, 2018 30-89 Days 90 Days Total Current Total Non-Accrual 90 Days or Commercial & industrial $ 217,385 $ 0 $ 217,385 $ 80,549,308 $ 80,766,693 $ 84,814 $ 0 Commercial real estate 1,509,839 190,789 1,700,628 233,617,520 235,318,148 1,742,993 0 Municipal 0 0 0 47,067,023 47,067,023 0 0 Residential real estate - 1st lien 4,108,319 1,371,061 5,479,380 160,185,795 165,665,175 2,026,939 622,486 - Jr lien 484,855 353,914 838,769 43,706,218 44,544,987 408,540 104,959 Consumer 43,277 1,661 44,938 5,043,553 5,088,491 0 1,661 Total $ 6,363,675 $ 1,917,425 $ 8,281,100 $ 570,169,417 $ 578,450,517 $ 4,263,286 $ 729,106 For all loan segments, loans over 30 days past due are considered delinquent. As of the balance sheet dates presented, residential mortgage loans in process of foreclosure consisted of the following: Number of loans Balance September 30, 2019 13 $ 864,019 December 31, 2018 12 961,709 Allowance for loan losses The ALL is established through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes that future payments of a loan balance are unlikely. Subsequent recoveries, if any, are credited to the allowance. Unsecured loans, primarily consumer loans, are charged off when they become uncollectible and no later than 120 days past due. Unsecured loans to customers who subsequently file bankruptcy are charged off within 30 days of receipt of the notification of filing or by the end of the month in which the loans become 120 days past due, whichever occurs first. For secured loans, both residential and commercial, the potential loss on impaired loans is carried as a loan loss reserve specific allocation; the loss portion is charged off when collection of the full loan appears unlikely. The unsecured portion of a real estate loan is that portion of the loan exceeding the "fair value" of the collateral less the estimated cost to sell. Value of the collateral is determined in accordance with the Company’s appraisal policy. The unsecured portion of an impaired real estate secured loan is charged off by the end of the month in which the loan becomes 180 days past due. As described below, the allowance consists of general, specific and unallocated components. However, the entire allowance is available to absorb losses in the loan portfolio, regardless of specific, general and unallocated components considered in determining the amount of the allowance. General component The general component of the ALL is based on historical loss experience and various qualitative factors and is stratified by the following loan segments: commercial and industrial, CRE, municipal, residential real estate 1st lien, residential real estate Jr lien and consumer loans. The Company does not disaggregate its portfolio segments further into classes. Loss ratios are calculated by loan segment for one year, two year, three year, four year and five year look back periods. Management uses an average of historical losses based on a time frame appropriate to capture relevant loss data for each loan segment in the current economic climate. During periods of economic stability, a relatively longer period (e.g., five years) may be appropriate. During periods of significant expansion or contraction, the Company may appropriately shorten the historical time period. The Company is currently using an extended look back period of five years. Qualitative factors include the levels of and trends in delinquencies and non-performing loans, levels of and trends in loan risk groups, trends in volumes and terms of loans, effects of any changes in loan related policies, experience, ability and the depth of management, documentation and credit data exception levels, national and local economic trends, external factors such as competition and regulation and lastly, concentrations of credit risk in a variety of areas, including portfolio product mix, the level of loans to individual borrowers and their related interests, loans to industry segments, and the geographic distribution of CRE loans. This evaluation is inherently subjective as it requires estimates that are susceptible to revision as more information becomes available. The qualitative factors are determined based on the various risk characteristics of each loan segment. The Company has policies, procedures and internal controls that management believes are commensurate with the risk profile of each of these segments. Major risk characteristics relevant to each portfolio segment are as follows: Commercial & Industrial – Commercial Real Estate – Municipal – Residential Real Estate - 1st Lien – Residential Real Estate – Jr Lien – Consumer – Specific component The specific component of the ALL relates to loans that are impaired. Impaired loans are loan(s) to a borrower that in the aggregate are greater than $100,000 and that are in non-accrual status or are TDRs regardless of amount. A specific allowance is established for an impaired loan when its estimated fair value or net present value of future cash flows is less than the carrying value of the loan. For all loan segments, except consumer loans, a loan is considered impaired when, based on current information and events, in management’s estimation it is probable that the Company 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 probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant or temporary payment delays and payment shortfalls generally are not classified as impaired. Management evaluates 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 and frequency 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, 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. Impaired loans also include troubled loans that are restructured. A TDR occurs when the Company, for economic or legal reasons related to the borrower’s financial difficulties, grants a concession to the borrower that would otherwise not be granted. TDRs may include the transfer of assets to the Company in partial satisfaction of a troubled loan, a modification of a loan’s terms, or a combination of the two. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, the Company does not separately identify individual consumer loans for impairment evaluation, unless such loans are subject to a restructuring agreement. Unallocated component An unallocated component of the ALL is maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component reflects management’s estimate of the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and general losses in the portfolio. The tables below summarize changes in the ALL and select loan information, by portfolio segment, for the periods indicated. As of or for the three months ended September 30, 2019 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate Municipal 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 715,132 $ 3,094,781 $ 0 $ 1,427,357 $ 287,984 $ 53,410 $ 145,089 $ 5,723,753 Charge-offs (6,795 ) (101,476 ) 0 (147,724 ) 0 (11,338 ) 0 (267,333 ) Recoveries 1,690 0 0 1,059 485 11,489 0 14,723 Provision (credit) 133,632 272,858 0 130,189 (3,402 ) (454 ) (120,324 ) 412,499 ALL ending balance $ 843,659 $ 3,266,163 $ 0 $ 1,410,881 $ 285,067 $ 53,107 $ 24,765 $ 5,883,642 As of or for the nine months ended September 30, 2019 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate Municipal 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 697,469 $ 3,019,868 $ 0 $ 1,421,494 $ 273,445 $ 56,787 $ 133,478 $ 5,602,541 Charge-offs (10,368 ) (116,186 ) 0 (242,244 ) (102,000 ) (70,959 ) 0 (541,757 ) Recoveries 10,768 0 0 11,131 1,486 32,805 0 56,190 Provision (credit) 145,790 362,481 0 220,500 112,136 34,474 (108,713 ) 766,668 ALL ending balance $ 843,659 $ 3,266,163 $ 0 $ 1,410,881 $ 285,067 $ 53,107 $ 24,765 $ 5,883,642 ALL evaluated for impairment Individually $ 95,945 $ 0 $ 0 $ 107,526 $ 1,709 $ 0 $ 0 $ 205,180 Collectively 747,714 3,266,163 0 1,303,355 283,358 53,107 24,765 5,678,462 Total $ 843,659 $ 3,266,163 $ 0 $ 1,410,881 $ 285,067 $ 53,107 $ 24,765 $ 5,883,642 Loans evaluated for impairment Individually $ 570,172 $ 1,849,290 $ 0 $ 5,129,666 $ 180,516 $ 0 $ 7,729,644 Collectively 92,074,697 247,750,431 51,935,005 155,926,562 43,981,211 4,709,738 596,377,644 Total $ 92,644,869 $ 249,599,721 $ 51,935,005 $ 161,056,228 $ 44,161,727 $ 4,709,738 $ 604,107,288 As of or for the year ended December 31, 2018 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate Municipal 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 675,687 $ 2,674,029 $ 0 $ 1,460,547 $ 316,982 $ 43,303 $ 267,551 $ 5,438,099 Charge-offs (152,860 ) (124,645 ) 0 (251,654 ) (69,173 ) (143,688 ) 0 (742,020 ) Recoveries 60,192 0 0 26,832 1,420 38,018 0 126,462 Provision (credit) 114,450 470,484 0 185,769 24,216 119,154 (134,073 ) 780,000 ALL ending balance $ 697,469 $ 3,019,868 $ 0 $ 1,421,494 $ 273,445 $ 56,787 $ 133,478 $ 5,602,541 ALL evaluated for impairment Individually $ 0 $ 0 $ 0 $ 112,969 $ 1,757 $ 0 $ 0 $ 114,726 Collectively 697,469 3,019,868 0 1,308,525 271,688 56,787 133,478 5,487,815 Total $ 697,469 $ 3,019,868 $ 0 $ 1,421,494 $ 273,445 $ 56,787 $ 133,478 $ 5,602,541 Loans evaluated for impairment Individually $ 60,846 $ 1,746,894 $ 0 $ 4,392,060 $ 319,321 $ 0 $ 6,519,121 Collectively 80,705,847 233,571,254 47,067,023 161,273,115 44,225,666 5,088,491 571,931,396 Total $ 80,766,693 $ 235,318,148 $ 47,067,023 $ 165,665,175 $ 44,544,987 $ 5,088,491 $ 578,450,517 As of or for the three months ended September 30, 2018 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 785,089 $ 2,708,239 $ 1,398,041 $ 287,602 $ 51,635 $ 182,417 $ 5,413,023 Charge-offs 0 0 (591 ) (12,174 ) (37,327 ) 0 (50,092 ) Recoveries 34,818 0 17,353 260 15,865 0 68,296 Provision (credit) (34,687 ) 102,491 (18,277 ) 78,108 21,590 60,775 210,000 ALL ending balance $ 785,220 $ 2,810,730 $ 1,396,526 $ 353,796 $ 51,763 $ 243,192 $ 5,641,227 As of or for the nine months ended September 30, 2018 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 675,687 $ 2,674,029 $ 1,460,547 $ 316,982 $ 43,303 $ 267,551 $ 5,438,099 Charge-offs (131,273 ) (124,645 ) (79,025 ) (36,174 ) (110,715 ) 0 (481,832 ) Recoveries 54,858 0 26,511 935 32,656 0 114,960 Provision (credit) 185,948 261,346 (11,507 ) 72,053 86,519 (24,359 ) 570,000 ALL ending balance $ 785,220 $ 2,810,730 $ 1,396,526 $ 353,796 $ 51,763 $ 243,192 $ 5,641,227 Impaired loans, by portfolio segment, were as follows: As of September 30, 2019 Unpaid Average Average Interest Recorded Principal Related Recorded Recorded Income Investment Balance Allowance Investment (1) Investment (2) Recognized(2) Related allowance recorded Commercial & industrial $ 162,330 $ 162,330 $ 95,945 $ 81,165 $ 40,583 $ 0 Commercial real estate 0 0 0 0 122,150 0 Residential real estate - 1st lien 1,114,686 1,135,476 107,526 1,089,372 1,008,088 70,281 - Jr lien 7,346 109,333 1,709 7,010 7,056 495 Total with related allowance 1,284,362 1,407,139 205,180 1,177,547 1,177,877 70,776 No related allowance recorded Commercial & industrial 407,841 426,051 507,336 278,776 4,077 Commercial real estate 1,849,859 2,273,987 1,951,505 1,841,103 13,223 Residential real estate - 1st lien 4,035,429 4,808,932 4,108,857 3,819,787 164,274 - Jr lien 173,184 222,339 183,283 243,679 0 Total with no related allowance 6,466,313 7,731,309 6,750,981 6,183,345 181,574 Total impaired loans $ 7,750,675 $ 9,138,448 $ 205,180 $ 7,928,528 $ 7,361,222 $ 252,350 (1) For the three months ended September 30, 2019 (2) For the nine months ended September 30, 2019 In the table above, recorded investment in impaired loans as of September 30, 2019 includes accrued interest receivable and deferred net loan costs of $21,031. As of December 31, 2018 Unpaid Average Interest Recorded Principal Related Recorded Income Investment Balance Allowance Investment (1) Recognized (1) Related allowance recorded Commercial real estate $ 0 $ 0 $ 0 $ 57,658 $ 0 Residential real estate - 1st lien 942,365 963,367 112,969 836,326 45,139 - Jr lien 7,271 7,248 1,757 77,555 351 Total with related allowance 949,636 970,615 114,726 971,539 45,490 No related allowance recorded Commercial & industrial 60,846 80,894 120,924 0 Commercial real estate 1,748,323 1,975,831 1,663,794 13,131 Residential real estate - 1st lien 3,465,117 4,082,637 3,497,772 94,313 - Jr lien 312,072 351,139 235,970 0 Total with no related allowance 5,586,358 6,490,501 5,518,460 107,444 Total impaired loans $ 6,535,994 $ 7,461,116 $ 114,726 $ 6,489,999 $ 152,934 (1) For the year ended December 31, 2018 In the table above, recorded investment in impaired loans as of December 31, 2018 includes accrued interest receivable and deferred net loan costs of $16,873. As of September 30, 2018 Unpaid Average Average Interest Recorded Principal Related Recorded Recorded Income Investment Balance Allowance Investment (1) Investment (2) Recognized(2) Related allowance recorded Commercial real estate $ 0 $ 0 $ 0 $ 0 $ 72,073 $ 0 Residential real estate - 1st lien 857,688 900,987 141,863 823,580 809,816 46,721 - Jr lien 217,869 220,712 82,236 112,833 95,126 571 Total with related allowance 1,075,557 1,121,699 224,099 936,413 977,015 47,292 No related allowance recorded Commercial & industrial 62,879 82,267 129,979 135,944 0 Commercial real estate 1,879,357 2,082,229 1,972,312 1,642,662 56,857 Residential real estate - 1st lien 3,671,955 4,225,575 3,607,829 3,505,936 180,255 - Jr lien 151,731 152,678 224,653 216,944 0 Total with no related allowance 5,765,922 6,542,749 5,934,773 5,501,486 237,112 Total impaired loans $ 6,841,479 $ 7,664,448 $ 224,099 $ 6,871,186 $ 6,478,501 $ 284,404 (1) For the three months ended September 30, 2018 (2) For the six months ended September 30, 2018 In the table above, recorded investment in impaired loans as of September 30, 2018 includes accrued interest receivable and deferred net loan costs of $20,375. For all loan segments, the accrual of interest is discontinued when a loan is specifically determined to be impaired or when the loan is delinquent 90 days and management believes, after considering collection efforts and other factors, that the borrower's financial condition is such that collection of interest is considered by management to be doubtful. Any unpaid interest previously accrued on those loans is reversed from income. Interest income is generally not recognized on specific impaired loans unless the likelihood of further loss is considered by management to be remote. Interest payments received on impaired loans are generally applied as a reduction of the loan principal balance. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are considered by management to be reasonably assured. Credit Quality Grouping In developing the ALL, management uses credit quality groupings to help evaluate trends in credit quality. The Company groups credit risk into Groups A, B and C. The manner the Company utilizes to assign risk grouping is driven by loan purpose. Commercial purpose loans are individually risk graded while the retail portion of the portfolio is generally grouped by delinquency pool. Group A loans - Acceptable Risk Group B loans – Management Involved Group C loans – Unacceptable Risk Commercial purpose loan ratings are assigned by the commercial account officer; for larger and more complex commercial loans, the credit rating is a collaborative assignment by the lender and the credit analyst. The credit risk rating is based on the borrower's expected performance, i.e., the likelihood that the borrower will be able to service its obligations in accordance with the loan terms. Credit risk ratings are meant to measure risk versus simply record history. Assessment of expected future payment performance requires consideration of numerous factors. While past performance is part of the overall evaluation, expected performance is based on an analysis of the borrower's financial strength, and historical and projected factors such as size and financing alternatives, capacity and cash flow, balance sheet and income statement trends, the quality and timeliness of financial reporting, and the quality of the borrower’s management. Other factors influencing the credit risk rating to a lesser degree include collateral coverage and control, guarantor strength and commitment, documentation, structure and covenants and industry conditions. There are uncertainties inherent in this process. Credit risk ratings are dynamic and require updating whenever relevant information is received. Risk ratings are assessed on an ongoing basis and at various points, including at delinquency or at the time of other adverse events. For larger, more complex or adversely rated loans, risk ratings are also assessed at the time of annual or periodic review. Lenders are required to make immediate disclosure to the Chief Credit Officer of any known increase in loan risk, even if considered temporary in nature. The risk ratings within the loan portfolio, by segment, as of the balance sheet dates were as follows: As of September 30, 2019 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate Municipal 1st Lien Jr Lien Consumer Total Group A $ 90,358,067 $ 238,563,693 $ 51,935,005 $ 156,675,620 $ 43,564,376 $ 4,709,738 $ 585,806,499 Group B 176,070 2,737,733 0 0 0 0 2,913,803 Group C 2,110,732 8,298,295 0 4,380,608 597,351 0 15,386,986 Total $ 92,644,869 $ 249,599,721 $ 51,935,005 $ 161,056,228 $ 44,161,727 $ 4,709,738 $ 604,107,288 As of December 31, 2018 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate Municipal 1st Lien Jr Lien Consumer Total Group A $ 78,585,348 $ 226,785,919 $ 47,067,023 $ 161,293,233 $ 43,817,872 $ 5,086,830 $ 562,636,225 Group B 90,763 246,357 0 224,992 0 0 562,112 Group C 2,090,582 8,285,872 0 4,146,950 727,115 1,661 15,252,180 Total $ 80,766,693 $ 235,318,148 $ 47,067,023 $ 165,665,175 $ 44,544,987 $ 5,088,491 $ 578,450,517 Modifications of Loans and TDRs A loan is classified as a TDR if, for economic or legal reasons related to a borrower’s financial difficulties, the Company grants a concession to the borrower that it would not otherwise consider. The Company is deemed to have granted such a concession if it has modified a troubled loan in any of the following ways: ● Reduced accrued interest; ● Reduced the original contractual interest rate to a rate that is below the current market rate for the borrower; ● Converted a variable-rate loan to a fixed-rate loan; ● Extended the term of the loan beyond an insignificant delay; ● Deferred or forgiven principal in an amount greater than three months of payments; or ● Performed a refinancing and deferred or forgiven principal on the original loan. An insignificant delay or insignificant shortfall in the amount of payments typically would not require the loan to be accounted for as a TDR. However, pursuant to regulatory guidance, any payment delay longer than three months is generally not considered insignificant. Management’s assessment of whether a concession has been granted also takes into account payments expected to be received from third parties, including third-party guarantors, provided that the third party has the ability to perform on the guarantee. The Company’s TDRs are principally a result of extending loan repayment terms to relieve cash flow difficulties. The Company has only, on a limited basis, reduced interest rates for borrowers below the current market rate for the borrower. The Company has not forgiven principal or reduced accrued interest within the terms of original restructurings, nor has it converted variable rate terms to fixed rate terms. However, the Company evaluates each TDR situation on its own merits and does not foreclose the granting of any particular type of concession. New TDRs, by portfolio segment, during the periods presented were as follows: Three months ended September 30, 2019 Nine months ended September 30, 2019 Pre- Post- Pre- Post- Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded Contracts Investment Investment Contracts Investment Investment Commercial & industrial 1 $ 288,912 $ 288,912 3 $ 338,129 $ 338,129 Commercial real estate 0 0 0 1 19,265 21,628 Residential real estate - 1st lien 1 20,984 31,598 5 530,330 569,800 Total 2 $ 309,896 $ 320,510 9 $ 887,724 $ 929,557 Year ended December 31, 2018 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment Commercial real estate 1 $ 406,920 $ 406,920 Residential real estate – 1st lien 10 1,031,330 1,142,089 Total 11 $ 1,438,250 $ 1,549,009 Three months ended September 30, 2018 Nine months ended September 30, 2018 Pre- Post- Pre- Post- Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded Contracts Investment Investment Contracts Investment Investment Residential real estate - 1st lien 1 $ 49,108 $ 50,814 8 $ 947,671 $ 1,054,280 The TDRs for which there was a payment default during the twelve month periods presented were as follows: For the twelve months ended September 30, 2019 Number of Recorded Contracts Investment Commercial real estate 1 $ 376,864 For the twelve months ended December 31, 2018 Number of Recorded Contracts Investment Commercial real estate 1 $ 400,646 Residential real estate - 1st lien 3 518,212 Total 4 $ 918,858 For the twelve months ended September 30, 2018 Number of Recorded Contracts Investment Residential real estate – 1st lien 3 $ 479,652 TDRs are treated as other impaired loans and carry individual specific reserves with respect to the calculation of the ALL. These loans are categorized as non-performing, may be past due, and are generally adversely risk rated. The TDRs that have defaulted under their restructured terms are generally in collection status and their reserve is typically calculated using the fair value of collateral method. The specific allowances related to TDRs as of the balance sheet dates are presented in the table below. September 30, December 31, 2019 2018 Specific Allocation (TDRs) $ 108,246 $ 114,726 As of the balance sheet dates, the Company evaluates whether it is contractually committed to lend additional funds to debtors with impaired, non-accrual or modified loans. The Company is contractually committed to lend on one SBA guaranteed line of credit to a borrower whose lending relationship was previously restructured.

6. Goodwill and Other Intangibl

6. Goodwill and Other Intangible Assets	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Note 6. Goodwill and Other Intangible Assets	As a result of a merger with LyndonBank on December 31, 2007, the Company recorded goodwill amounting to $11,574,269. The goodwill is not amortizable and is not deductible for tax purposes. Management evaluates goodwill for impairment annually. As of December 31, 2018, the most recent evaluation, management concluded that no impairment existed.

7. Leases

7. Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Note 7. Leases	The Company adopted ASU No. 2016-02 (Leases) on January 1, 2019 with no required adjustment to prior periods presented or cumulative-effect adjustment to retained earnings. The Company has operating and finance leases for some of its bank premises, with remaining lease terms of one year to seven years. Some of the operating leases have options to renew, which are reflected in the seven years. The Company’s operating lease right-of-use assets and finance lease assets are included in “Bank premises and equipment, net” in the consolidated balance sheet and operating lease liabilities and finance lease liabilities are included in other liabilities in the consolidated balance sheet. The components of lease expense for the periods presented were as follows: Three Months Ended September 30, 2019 2018 Operating lease cost $ 64,869 $ 56,785 Finance lease cost: Amortization of right-of-use assets $ 17,667 $ 17,667 Interest on lease liabilities 3,868 6,315 Variable rent expense 8,485 8,485 Total finance lease cost $ 30,020 $ 32,467 Nine Months Ended September 30, 2019 2018 Operating lease cost $ 190,607 $ 169,931 Finance lease cost: Amortization of right-of-use assets $ 53,000 $ 53,000 Interest on lease liabilities 13,482 20,679 Variable rent expense 25,455 25,455 Total finance lease cost $ 91,937 $ 99,134 Supplemental cash flow information related to right-of-use assets and for lease obligations recorded upon adoption of ASU No. 2016-02 (Note 2) was as follows: Nine Months Ended September 30, 2019 Operating Leases $ 1,455,829 Supplemental balance sheet information related to leases was as follows: September 30, December 31, 2019 2018 Operating Leases Operating lease right-of-use assets $ 1,314,418 $ 0 Operating lease liabilities $ 1,321,018 $ 0 Finance Leases Property, at cost $ 991,014 $ 991,014 Accumulated depreciation (830,335 ) (777,335 ) Property, net $ 160,679 $ 213,679 Finance lease liabilities $ 174,133 $ 266,747 September 30, December 31, 2019 2018 Weighted Average Remaining Lease Term Operating Leases 4.7 Years 6.0 Years Finance Leases 1.3 Years 2.0 Years Weighted Average Discount Rate Operating Leases 1.28% N/A Finance Leases 7.89% 7.86% Maturities of lease liabilities as of September 30, 2019 were as follows: Operating Leases 2019 $ 62,672 2020 257,039 2021 210,350 2022 207,380 2023 210,232 Subsequent to 2023 435,872 Total $ 1,383,545 Finance Leases 2019 $ 35,365 2020 110,460 2021 39,117 Total minimum lease payments 184,942 Less amount representing interest (10,809 ) Present value of net minimum lease payments $ 174,133 A reconciliation of the undiscounted cash flows in the maturity analysis above and the lease liability recognized in the consolidated balance sheet as of September 30, 2019, is shown below: Operating Leases Finance Leases Undiscounted cash flows $ 1,383,545 $ 184,942 Discount effect of cash flows (62,527 ) (10,809 ) Lease liabilities $ 1,321,018 $ 174,133

8. Fair Value

8. Fair Value	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Note 8. Fair Value	Certain assets and liabilities are recorded at fair value to provide additional insight into the Company’s quality of earnings and comprehensive income. The fair values of some of these assets and liabilities are measured on a recurring basis while others are measured on a non-recurring basis, with the determination based upon applicable existing accounting pronouncements. For example, securities available-for-sale are recorded at fair value on a recurring basis. Other assets, such as MSRs, loans held-for-sale, impaired loans, and OREO are recorded at fair value on a non-recurring basis using the lower of cost or market methodology to determine impairment of individual assets. The Company groups assets and liabilities which are recorded 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. The level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement (with Level 1 considered highest and Level 3 considered lowest). A brief description of each level follows. Level 1 Quoted prices in active markets for identical assets or liabilities. Level 1 assets and liabilities include debt and equity securities and derivative contracts that are traded in an active exchange market, as well as U.S. Treasury, other U.S. Government debt securities that are highly liquid and are actively traded in over-the-counter markets. Level 2 Observable inputs other than Level 1 prices such as quoted prices for similar assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include debt securities with quoted prices that are traded less frequently than exchange-traded instruments and derivative contracts whose value is determined using a pricing model with inputs that are observable in the market or can be derived principally from or corroborated by observable market data. This category generally includes MSRs, impaired loans and OREO. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments whose value is determined using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination of fair value requires significant management judgment or estimation. The following methods and assumptions were used by the Company in estimating its fair value measurements: Debt Securities AFS: Impaired loans: Loans held-for-sale: MSRs: OREO: Assets and Liabilities Recorded at Fair Value on a Recurring Basis Assets measured at fair value on a recurring basis and reflected in the consolidated balance sheets at the dates presented, segregated by fair value hierarchy, are summarized below. There were no Level 1 or Level 3 assets or liabilities measured on a recurring basis as of the balance sheet dates presented, nor were there any transfers of assets between Levels during 2019 or 2018. Level 2 September 30, 2019 December 31, 2018 Assets: (market approach) U.S. GSE debt securities $ 16,807,975 $ 13,751,103 Agency MBS 15,038,495 15,574,525 ABS and OAS 1,885,349 1,986,129 Other investments 8,847,476 8,055,074 Total $ 42,579,295 $ 39,366,831 Assets and Liabilities Recorded at Fair Value on a Non-Recurring Basis The following table includes assets measured at fair value on a non-recurring basis that have had a fair value adjustment since their initial recognition. Impaired loans measured at fair value only include collateral-dependent impaired loans with a related specific ALL and are presented net of specific allowances as disclosed in Note 5. Assets measured at fair value on a non-recurring basis and reflected in the consolidated balance sheets at the dates presented, segregated by fair value hierarchy level, are summarized below. There were no Level 1 or Level 3 assets or liabilities measured on a non-recurring basis as of the balance sheet dates presented, nor were there any transfers of assets between levels during 2019 or 2018. Level 2 September 30, 2019 December 31, 2018 Assets: (market approach) Impaired loans, net of related allowance $ 66,385 $ 0 Loans held-for-sale 1,322,338 0 MSRs (1) 921,115 1,004,948 OREO 73,448 201,386 (1) Represents MSRs at lower of cost or fair value. FASB ASC Topic 825, “Financial Instruments”, requires disclosures of fair value information about financial instruments, whether or not recognized in the balance sheet, if the fair values can be reasonably determined. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques using observable inputs when available. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. Topic 825 excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Company. The estimated fair values of commitments to extend credit and letters of credit were immaterial as of the dates presented in the tables below. The estimated fair values of the Company's financial instruments were as follows: September 30, 2019 Fair Fair Fair Fair Carrying Value Value Value Value Amount Level 1 Level 2 Level 3 Total (Dollars in Thousands) Financial assets: Cash and cash equivalents $ 46,599 $ 46,599 $ 0 $ 0 $ 46,599 Debt securities AFS 42,579 0 42,579 0 42,579 Restricted equity securities 1,380 0 1,380 0 1,380 Loans and loans held-for-sale, net of ALL Commercial & industrial 91,797 0 0 91,297 91,297 Commercial real estate 246,322 0 66 245,833 245,899 Municipal(1) 51,935 0 0 51,688 51,688 Residential real estate - 1st lien 160,960 0 1,322 158,933 160,255 Residential real estate - Jr lien 43,875 0 0 43,863 43,863 Consumer 4,657 0 0 4,671 4,671 MSRs (2) 921 0 1,191 0 1,191 Accrued interest receivable 2,162 0 2,162 0 2,162 Financial liabilities: Deposits Other deposits 589,755 0 589,999 0 589,999 Brokered deposits 16,632 0 16,643 0 16,643 Long-term borrowings 1,550 0 1,487 0 1,487 Repurchase agreements 35,770 0 35,770 0 35,770 Operating lease obligations 1,321 0 1,321 0 1,321 Finance lease obligations 174 0 174 0 174 Subordinated debentures 12,887 0 12,827 0 12,827 Accrued interest payable 146 0 146 0 146 (1) Prior to reclassification to the loan portfolio effective January 1, 2019, all loans in this category were reported as HTM securities as a component of Investment Securities. All prior periods have been restated to conform to the reclassification. (2) Reported fair value represents all MSRs for loans serviced by the Company at September 30, 2019, regardless of carrying amount. December 31, 2018 Fair Fair Fair Fair Carrying Value Value Value Value Amount Level 1 Level 2 Level 3 Total (Dollars in Thousands) Financial assets: Cash and cash equivalents $ 67,935 $ 67,935 $ 0 $ 0 $ 67,935 Debt securities AFS 39,367 0 39,367 0 39,367 Restricted equity securities 1,749 0 1,749 0 1,749 Loans and loans held-for-sale, net of ALL Commercial & industrial 80,049 0 0 79,773 79,773 Commercial real estate 232,239 0 0 230,532 230,532 Municipal (1) 47,067 0 0 47,228 47,228 Residential real estate - 1st lien 164,202 0 0 161,068 161,068 Residential real estate - Jr lien 44,260 0 0 44,127 44,127 Consumer 5,031 0 0 5,063 5,063 MSRs (2) 1,005 0 1,481 0 1,481 Accrued interest receivable 2,301 0 2,301 0 2,301 Financial liabilities: Deposits Other deposits 573,525 0 571,952 0 571,952 Brokered deposits 35,292 0 35,247 0 35,247 Long-term borrowings 1,550 0 1,425 0 1,425 Repurchase agreements 30,522 0 30,522 0 30,522 Capital lease obligations 267 0 267 0 267 Subordinated debentures 12,887 0 12,807 0 12,807 Accrued interest payable 113 0 113 0 113 (1) Prior to reclassification to the loan portfolio effective January 1, 2019, all loans in this category were reported as HTM securities as a component of Investment Securities. All prior periods have been restated to conform to the reclassification. (2) Reported fair value represents all MSRs for loans serviced by the Company at December 31, 2018, regardless of carrying amount.

9. Loan Servicing

9. Loan Servicing	9 Months Ended
	Sep. 30, 2019
Transfers and Servicing of Financial Assets [Abstract]
Note 9. Loan Servicing	The following table shows the changes in the carrying amount of the MSRs, included in other assets in the consolidated balance sheets, for the periods indicated: Nine Months Ended Year Ended September 30, 2019 December 31, 2018 Balance at beginning of year $ 1,004,948 $ 1,083,286 MSRs capitalized 50,302 110,209 MSRs amortized (134,135 ) (188,547 ) Balance at end of period $ 921,115 $ 1,004,948 There was no valuation allowance recorded for MSRs for the periods presented.

10. Legal Proceedings

10. Legal Proceedings	9 Months Ended
	Sep. 30, 2019
Legal Proceedings
Note 10. Legal Proceedings	In the normal course of business, the Company is involved in litigation that is considered incidental to its business. Management does not expect that any such litigation will be material to the Company's consolidated financial condition or results of operations.

11. Subsequent Event

11. Subsequent Event	9 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
Note 11. Subsequent Event	The Company has evaluated events and transactions through the date that the financial statements were issued for potential recognition or disclosure in these financial statements, as required by GAAP. On September 13, 2019, the Company’s Board declared a cash dividend of $0.19 per common share, payable November 1, 2019 to shareholders of record as of October 15, 2019. This dividend has been recorded in the Company’s consolidated financial statements as of the declaration date, including shares issuable under the DRIP.

1. Basis of Presentation and _2

1. Basis of Presentation and Consolidation (Policies)	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Consolidation	The interim consolidated financial statements of Community Bancorp. and Subsidiary are unaudited. All significant intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments necessary for the fair presentation of the consolidated financial condition and results of operations of the Company and its subsidiary, Community National Bank (the Bank), contained herein have been made. The unaudited interim consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2018 contained in the Company's Annual Report on Form 10-K. The results of operations for the interim period are not necessarily indicative of the results of operations to be expected for the full annual period ending December 31, 2019, or for any other interim period. Certain amounts in the 2018 consolidated financial statements have been reclassified to conform to the 2019 presentation. Reclassifications had no effect on prior period net income or shareholders’ equity. In addition to the definitions provided elsewhere in this quarterly report, the definitions, acronyms and abbreviations identified below are used throughout this report, including in Part I. “Financial Information” and Part II. “Other Information”, and are intended to aid the reader and provide a reference page when reviewing this report. ABS and OAS: Asset backed or other amortizing security FHLBB: Federal Home Loan Bank of Boston ACBB Atlantic Community Bankers Bank FHLMC: Federal Home Loan Mortgage Corporation AFS: Available-for-sale FOMC: Federal Open Market Committee Agency MBS: MBS issued by a US government agency FRB: Federal Reserve Board or GSE FRBB: Federal Reserve Bank of Boston ALCO: Asset Liability Committee GAAP: Generally Accepted Accounting Principles ALL: Allowance for loan losses in the United States AOCI: Accumulated other comprehensive income GSE: Government sponsored enterprise ASC: Accounting Standards Codification HTM: Held-to-maturity ASU: Accounting Standards Update ICS: Insured Cash Sweeps of the Promontory Bancorp: Community Bancorp. Interfinancial Network Bank: Community National Bank IRS: Internal Revenue Service BHG Bankers Healthcare Group JNE: Jobs for New England BIC: Borrower-in-Custody Jr: Junior Board: Board of Directors MBS: Mortgage-backed security BOLI: Bank owned life insurance MPF: Mortgage Partnership Finance bp or bps: Basis point(s) MSRs: Mortgage servicing rights CBLR: Community Bank Leverage Ratio NII: Net interest income CDARS: Certificate of Deposit Accounts Registry NMTC: New Market Tax Credits Service of the Promontory Interfinancial OCI: Other comprehensive income (loss) Network OREO: Other real estate owned CDs: Certificates of deposit OTTI: Other-than-temporary impairment CDI: Core deposit intangible PMI: Private mortgage insurance CECL: Current Expected Credit Loss RD: USDA Rural Development CFSG: Community Financial Services Group, LLC SBA: U.S. Small Business Administration CFS Partners: Community Financial Services Partners, SEC: U.S. Securities and Exchange Commission LLC SERP: Supplemental Employee Retirement Plan Company: Community Bancorp. and Subsidiary TDR: Troubled-debt restructuring CRE: Commercial Real Estate USDA: U.S. Department of Agriculture DDA or DDAs: Demand Deposit Account(s) VA: U.S. Veterans Administration DTC: Depository Trust Company 2017 Tax Act: Tax Cut and Jobs Act of 2017 DRIP: Dividend Reinvestment Plan 2018 Economic Growth, Regulatory Relief and Exchange Act: Securities Exchange Act of 1934 Regulatory Consumer Protection Act of 2018 FASB: Financial Accounting Standards Board Relief Act: FDIC: Federal Deposit Insurance Corporation
Recent Accounting Developments	In February 2016, the FASB issued ASU No. 2016-02, Leases In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments A modified version of these requirements also applies to debt securities classified as available for sale, which will require that credit losses on those securities be recorded through an allowance for credit losses rather than a write-down. The ASU may have a material impact on the Company's consolidated financial statements upon adoption as it will require a change in the Company's methodology for calculating its ALL and allowance on unused commitments. The Company will transition from an incurred loss model to an expected loss model, which will likely result in an increase in the ALL upon adoption and may negatively impact the Company’s and the Bank's regulatory capital ratios. The Company has formed a committee to assess the implications of this new pronouncement and transitioned to a software solution for preparing the ALL calculation and related reports that management believes provides the Company with stronger data integrity, ease and efficiency in ALL preparation. The new software solution also provides numerous training opportunities for the appropriate personnel within the Company. The Company has gathered and is continuing to analyze the historical data to serve as a basis for estimating the ALL under CECL and continues to evaluate the impact h e ASU was to be effec ti ve for fisca l years be g inn i n g aft er De c ember 15, 2019, in c lu d ing in teri m p e rio ds w i t hin t ho se fiscal years, with early adoption permitted for fiscal years beginning after December 15, 2018, including interim periods within such years. However, on October 16, 2019, the FASB approved an extended effective date for compliance with the ASU by smaller reporting companies, which are now required to comply with the ASU for fiscal years beginning after December 15, 2022, with early adoption permitted. The Company qualifies for this extension and does not intend to early adopt the ASU at this time. Management will continue to evaluate the Company’s CECL compliance and implementation timetable in light of the extension. In January 2017, the FASB issued ASU No. 2017-04, Intangibles Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment The Company has goodwill from its acquisition of LyndonBank in 2007 and performs an impairment test annually or more frequently if circumstances warrant (see Note 6). In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement

3. Earnings per Common Share (T

3. Earnings per Common Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Schedule of earnings per share	Three Months Ended September 30, 2019 2018 Net income, as reported $ 2,261,943 $ 2,269,732 Less: dividends to preferred shareholders 20,625 25,000 Net income available to common shareholders $ 2,241,318 $ 2,244,732 Weighted average number of common shares used in calculating earnings per share 5,212,162 5,146,817 Earnings per common share $ 0.43 $ 0.44 Nine Months Ended September 30, 2019 2018 Net income, as reported $ 6,453,146 $ 6,254,929 Less: dividends to preferred shareholders 68,750 76,875 Net income available to common shareholders $ 6,384,396 $ 6,178,054 Weighted average number of common shares used in calculating earnings per share 5,196,630 5,131,654 Earnings per common share $ 1.23 $ 1.20

4. Investment Securities (Table

4. Investment Securities (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Securities, Available-for-sale [Abstract]
Schedule of available for sale securities	Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value September 30, 2019 U.S. GSE debt securities $ 16,715,156 $ 103,252 $ 10,433 $ 16,807,975 Agency MBS 15,003,111 89,940 54,556 15,038,495 ABS and OAS 1,797,128 88,221 0 1,885,349 Other investments 8,665,000 182,623 147 8,847,476 Total $ 42,180,395 $ 464,036 $ 65,136 $ 42,579,295 December 31, 2018 U.S. GSE debt securities $ 14,010,100 $ 394 $ 259,391 $ 13,751,103 Agency MBS 16,020,892 2,701 449,068 15,574,525 ABS and OAS 1,988,565 3,806 6,242 1,986,129 Other investments 8,167,000 8,472 120,398 8,055,074 Total $ 40,186,557 $ 15,373 $ 835,099 $ 39,366,831
Schedule of investments pledged for collateral	Amortized Fair Cost Value September 30, 2019 $ 42,180,395 $ 42,579,295 December 31, 2018 40,186,557 39,366,831
Schedule of maturities of debt securities available for sale	Amortized Fair Cost Value September 30, 2019 Due in one year or less $ 1,521,908 $ 1,522,901 Due from one to five years 12,633,885 12,807,696 Due from five to ten years 12,041,660 12,217,358 Due after ten years 979,831 992,845 Agency MBS 15,003,111 15,038,495 Total $ 42,180,395 $ 42,579,295 December 31, 2018 Due from one to five years $ 12,714,642 $ 12,519,008 Due from five to ten years 11,451,023 11,273,298 Agency MBS 16,020,892 15,574,525 Total $ 40,186,557 $ 39,366,831
Schedule of unrealized loss	Less than 12 months 12 months or more Total Fair Unrealized Fair Unrealized Number of Fair Unrealized Value Loss Value Loss Securities Value Loss September 30, 2019 U.S. GSE debt securities $ 1,999,231 $ 769 $ 1,990,336 $ 9,664 2 $ 3,989,567 $ 10,433 Agency MBS 1,845,095 3,306 5,662,969 51,250 18 7,508,064 54,556 Other investments 0 0 247,853 147 3 247,853 147 Total $ 3,844,326 $ 4,075 $ 7,901,158 $ 61,061 23 $ 11,745,484 $ 65,136 December 31, 2018 U.S. GSE debt securities $ 1,465,947 $ 6,752 $ 11,284,761 $ 252,639 11 $ 12,750,708 $ 259,391 Agency MBS 2,317,838 22,029 12,223,386 427,039 24 14,541,224 449,068 ABS and OAS 976,226 6,242 0 0 1 976,226 6,242 Other investments 1,956,914 20,086 4,113,688 100,312 25 6,070,602 120,398 Total $ 6,716,925 $ 55,109 $ 27,621,835 $ 779,990 61 $ 34,338,760 $ 835,099

5. Loans, Allowance for Loan _2

5. Loans, Allowance for Loan Losses and Credit Quality (Tables)	9 Months Ended
	Sep. 30, 2019
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Composition of net loans	September 30, December 31, 2019 2018 Commercial & industrial $ 92,644,869 $ 80,766,693 Commercial real estate 249,599,721 235,318,148 Municipal (1) 51,935,005 47,067,023 Residential real estate - 1st lien 161,056,228 165,665,175 Residential real estate - Jr lien 44,161,727 44,544,987 Consumer 4,709,738 5,088,491 Total loans 604,107,288 578,450,517 Deduct (add): ALL 5,883,642 5,602,541 Deferred net loan costs (360,390 ) (363,614 ) Net loans $ 598,584,036 $ 573,211,590
Past due loans by segment	September 30, 2019 30-89 Days 90 Days or More Total Past Due Current Total Loans Non-Accrual Loans 90 Days or More and Accruing Commercial & industrial $ 174,959 $ 162,330 $ 337,289 $ 92,307,580 $ 92,644,869 $ 570,171 $ 0 Commercial real estate 536,098 261,321 797,419 248,802,302 249,599,721 1,746,986 0 Municipal 0 0 0 51,935,005 51,935,005 0 0 Residential real estate - 1st lien 1,896,729 2,166,286 4,063,015 156,993,213 161,056,228 2,754,912 969,072 - Jr lien 475,345 294,600 769,945 43,391,782 44,161,727 266,815 181,477 Consumer 24,426 0 24,426 4,685,312 4,709,738 0 0 Totals $ 3,107,557 $ 2,884,537 $ 5,992,094 $ 598,115,194 $ 604,107,288 $ 5,338,884 $ 1,150,549 December 31, 2018 30-89 Days 90 Days or More Total Past Due Current Total Loans Non-Accrual Loans 90 Days or More and Accruing Commercial & industrial $ 217,385 $ 0 $ 217,385 $ 80,549,308 $ 80,766,693 $ 84,814 $ 0 Commercial real estate 1,509,839 190,789 1,700,628 233,617,520 235,318,148 1,742,993 0 Municipal 0 0 0 47,067,023 47,067,023 0 0 Residential real estate - 1st lien 4,108,319 1,371,061 5,479,380 160,185,795 165,665,175 2,026,939 622,486 - Jr lien 484,855 353,914 838,769 43,706,218 44,544,987 408,540 104,959 Consumer 43,277 1,661 44,938 5,043,553 5,088,491 0 1,661 Total $ 6,363,675 $ 1,917,425 $ 8,281,100 $ 570,169,417 $ 578,450,517 $ 4,263,286 $ 729,106
Residential mortgage loans in process of foreclosure	Number of loans Balance September 30, 2019 13 $ 864,019 December 31, 2018 12 961,709
Changes in the allowance for loan losses	As of or for the three months ended September 30, 2019 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate Municipal 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 715,132 $ 3,094,781 $ 0 $ 1,427,357 $ 287,984 $ 53,410 $ 145,089 $ 5,723,753 Charge-offs (6,795 ) (101,476 ) 0 (147,724 ) 0 (11,338 ) 0 (267,333 ) Recoveries 1,690 0 0 1,059 485 11,489 0 14,723 Provision (credit) 133,632 272,858 0 130,189 (3,402 ) (454 ) (120,324 ) 412,499 ALL ending balance $ 843,659 $ 3,266,163 $ 0 $ 1,410,881 $ 285,067 $ 53,107 $ 24,765 $ 5,883,642 As of or for the nine months ended September 30, 2019 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate Municipal 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 697,469 $ 3,019,868 $ 0 $ 1,421,494 $ 273,445 $ 56,787 $ 133,478 $ 5,602,541 Charge-offs (10,368 ) (116,186 ) 0 (242,244 ) (102,000 ) (70,959 ) 0 (541,757 ) Recoveries 10,768 0 0 11,131 1,486 32,805 0 56,190 Provision (credit) 145,790 362,481 0 220,500 112,136 34,474 (108,713 ) 766,668 ALL ending balance $ 843,659 $ 3,266,163 $ 0 $ 1,410,881 $ 285,067 $ 53,107 $ 24,765 $ 5,883,642 ALL evaluated for impairment Individually $ 95,945 $ 0 $ 0 $ 107,526 $ 1,709 $ 0 $ 0 $ 205,180 Collectively 747,714 3,266,163 0 1,303,355 283,358 53,107 24,765 5,678,462 Total $ 843,659 $ 3,266,163 $ 0 $ 1,410,881 $ 285,067 $ 53,107 $ 24,765 $ 5,883,642 Loans evaluated for impairment Individually $ 570,172 $ 1,849,290 $ 0 $ 5,129,666 $ 180,516 $ 0 $ 7,729,644 Collectively 92,074,697 247,750,431 51,935,005 155,926,562 43,981,211 4,709,738 596,377,644 Total $ 92,644,869 $ 249,599,721 $ 51,935,005 $ 161,056,228 $ 44,161,727 $ 4,709,738 $ 604,107,288 As of or for the year ended December 31, 2018 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate Municipal 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 675,687 $ 2,674,029 $ 0 $ 1,460,547 $ 316,982 $ 43,303 $ 267,551 $ 5,438,099 Charge-offs (152,860 ) (124,645 ) 0 (251,654 ) (69,173 ) (143,688 ) 0 (742,020 ) Recoveries 60,192 0 0 26,832 1,420 38,018 0 126,462 Provision (credit) 114,450 470,484 0 185,769 24,216 119,154 (134,073 ) 780,000 ALL ending balance $ 697,469 $ 3,019,868 $ 0 $ 1,421,494 $ 273,445 $ 56,787 $ 133,478 $ 5,602,541 ALL evaluated for impairment Individually $ 0 $ 0 $ 0 $ 112,969 $ 1,757 $ 0 $ 0 $ 114,726 Collectively 697,469 3,019,868 0 1,308,525 271,688 56,787 133,478 5,487,815 Total $ 697,469 $ 3,019,868 $ 0 $ 1,421,494 $ 273,445 $ 56,787 $ 133,478 $ 5,602,541 Loans evaluated for impairment Individually $ 60,846 $ 1,746,894 $ 0 $ 4,392,060 $ 319,321 $ 0 $ 6,519,121 Collectively 80,705,847 233,571,254 47,067,023 161,273,115 44,225,666 5,088,491 571,931,396 Total $ 80,766,693 $ 235,318,148 $ 47,067,023 $ 165,665,175 $ 44,544,987 $ 5,088,491 $ 578,450,517 As of or for the three months ended September 30, 2018 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 785,089 $ 2,708,239 $ 1,398,041 $ 287,602 $ 51,635 $ 182,417 $ 5,413,023 Charge-offs 0 0 (591 ) (12,174 ) (37,327 ) 0 (50,092 ) Recoveries 34,818 0 17,353 260 15,865 0 68,296 Provision (credit) (34,687 ) 102,491 (18,277 ) 78,108 21,590 60,775 210,000 ALL ending balance $ 785,220 $ 2,810,730 $ 1,396,526 $ 353,796 $ 51,763 $ 243,192 $ 5,641,227 As of or for the nine months ended September 30, 2018 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 675,687 $ 2,674,029 $ 1,460,547 $ 316,982 $ 43,303 $ 267,551 $ 5,438,099 Charge-offs (131,273 ) (124,645 ) (79,025 ) (36,174 ) (110,715 ) 0 (481,832 ) Recoveries 54,858 0 26,511 935 32,656 0 114,960 Provision (credit) 185,948 261,346 (11,507 ) 72,053 86,519 (24,359 ) 570,000 ALL ending balance $ 785,220 $ 2,810,730 $ 1,396,526 $ 353,796 $ 51,763 $ 243,192 $ 5,641,227
Impaired loans by segment	As of September 30, 2019 Unpaid Average Average Interest Recorded Principal Related Recorded Recorded Income Investment Balance Allowance Investment (1) Investment (2) Recognized(2) Related allowance recorded Commercial & industrial $ 162,330 $ 162,330 $ 95,945 $ 81,165 $ 40,583 $ 0 Commercial real estate 0 0 0 0 122,150 0 Residential real estate - 1st lien 1,114,686 1,135,476 107,526 1,089,372 1,008,088 70,281 - Jr lien 7,346 109,333 1,709 7,010 7,056 495 Total with related allowance 1,284,362 1,407,139 205,180 1,177,547 1,177,877 70,776 No related allowance recorded Commercial & industrial 407,841 426,051 507,336 278,776 4,077 Commercial real estate 1,849,859 2,273,987 1,951,505 1,841,103 13,223 Residential real estate - 1st lien 4,035,429 4,808,932 4,108,857 3,819,787 164,274 - Jr lien 173,184 222,339 183,283 243,679 0 Total with no related allowance 6,466,313 7,731,309 6,750,981 6,183,345 181,574 Total impaired loans $ 7,750,675 $ 9,138,448 $ 205,180 $ 7,928,528 $ 7,361,222 $ 252,350 (1) For the three months ended September 30, 2019 (2) For the nine months ended September 30, 2019 As of December 31, 2018 Unpaid Average Interest Recorded Principal Related Recorded Income Investment Balance Allowance Investment (1) Recognized (1) Related allowance recorded Commercial real estate $ 0 $ 0 $ 0 $ 57,658 $ 0 Residential real estate - 1st lien 942,365 963,367 112,969 836,326 45,139 - Jr lien 7,271 7,248 1,757 77,555 351 Total with related allowance 949,636 970,615 114,726 971,539 45,490 No related allowance recorded Commercial & industrial 60,846 80,894 120,924 0 Commercial real estate 1,748,323 1,975,831 1,663,794 13,131 Residential real estate - 1st lien 3,465,117 4,082,637 3,497,772 94,313 - Jr lien 312,072 351,139 235,970 0 Total with no related allowance 5,586,358 6,490,501 5,518,460 107,444 Total impaired loans $ 6,535,994 $ 7,461,116 $ 114,726 $ 6,489,999 $ 152,934 (1) For the year ended December 31, 2018 As of September 30, 2018 Unpaid Average Average Interest Recorded Principal Related Recorded Recorded Income Investment Balance Allowance Investment (1) Investment (2) Recognized(2) Related allowance recorded Commercial real estate $ 0 $ 0 $ 0 $ 0 $ 72,073 $ 0 Residential real estate - 1st lien 857,688 900,987 141,863 823,580 809,816 46,721 - Jr lien 217,869 220,712 82,236 112,833 95,126 571 Total with related allowance 1,075,557 1,121,699 224,099 936,413 977,015 47,292 No related allowance recorded Commercial & industrial 62,879 82,267 129,979 135,944 0 Commercial real estate 1,879,357 2,082,229 1,972,312 1,642,662 56,857 Residential real estate - 1st lien 3,671,955 4,225,575 3,607,829 3,505,936 180,255 - Jr lien 151,731 152,678 224,653 216,944 0 Total with no related allowance 5,765,922 6,542,749 5,934,773 5,501,486 237,112 Total impaired loans $ 6,841,479 $ 7,664,448 $ 224,099 $ 6,871,186 $ 6,478,501 $ 284,404 (1) For the three months ended September 30, 2018 (2) For the six months ended September 30, 2018
Risk ratings	As of September 30, 2019 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate Municipal 1st Lien Jr Lien Consumer Total Group A $ 90,358,067 $ 238,563,693 $ 51,935,005 $ 156,675,620 $ 43,564,376 $ 4,709,738 $ 585,806,499 Group B 176,070 2,737,733 0 0 0 0 2,913,803 Group C 2,110,732 8,298,295 0 4,380,608 597,351 0 15,386,986 Total $ 92,644,869 $ 249,599,721 $ 51,935,005 $ 161,056,228 $ 44,161,727 $ 4,709,738 $ 604,107,288 As of December 31, 2018 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate Municipal 1st Lien Jr Lien Consumer Total Group A $ 78,585,348 $ 226,785,919 $ 47,067,023 $ 161,293,233 $ 43,817,872 $ 5,086,830 $ 562,636,225 Group B 90,763 246,357 0 224,992 0 0 562,112 Group C 2,090,582 8,285,872 0 4,146,950 727,115 1,661 15,252,180 Total $ 80,766,693 $ 235,318,148 $ 47,067,023 $ 165,665,175 $ 44,544,987 $ 5,088,491 $ 578,450,517
Loans modified as TDRs	Three months ended September 30, 2019 Nine months ended September 30, 2019 Pre- Post- Pre- Post- Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded Contracts Investment Investment Contracts Investment Investment Commercial & industrial 1 $ 288,912 $ 288,912 3 $ 338,129 $ 338,129 Commercial real estate 0 0 0 1 19,265 21,628 Residential real estate - 1st lien 1 20,984 31,598 5 530,330 569,800 Total 2 $ 309,896 $ 320,510 9 $ 887,724 $ 929,557 Year ended December 31, 2018 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment Commercial real estate 1 $ 406,920 $ 406,920 Residential real estate – 1st lien 10 1,031,330 1,142,089 Total 11 $ 1,438,250 $ 1,549,009 Three months ended September 30, 2018 Nine months ended September 30, 2018 Pre- Post- Pre- Post- Modification Modification Modification Modification Outstanding Outstanding Outstanding Outstanding Number of Recorded Recorded Number of Recorded Recorded Contracts Investment Investment Contracts Investment Investment Residential real estate - 1st lien 1 $ 49,108 $ 50,814 8 $ 947,671 $ 1,054,280
TDRs payment default	For the twelve months ended September 30, 2019 Number of Recorded Contracts Investment Commercial real estate 1 $ 376,864 For the twelve months ended December 31, 2018 Number of Recorded Contracts Investment Commercial real estate 1 $ 400,646 Residential real estate - 1st lien 3 518,212 Total 4 $ 918,858 For the twelve months ended September 30, 2018 Number of Recorded Contracts Investment Residential real estate – 1st lien 3 $ 479,652
Specific allowances	September 30, December 31, 2019 2018 Specific Allocation (TDRs) $ 108,246 $ 114,726

7. Leases (Tables)

7. Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Components of lease expense	Three Months Ended September 30, 2019 2018 Operating lease cost $ 64,869 $ 56,785 Finance lease cost: Amortization of right-of-use assets $ 17,667 $ 17,667 Interest on lease liabilities 3,868 6,315 Variable rent expense 8,485 8,485 Total finance lease cost $ 30,020 $ 32,467 Nine Months Ended September 30, 2019 2018 Operating lease cost $ 190,607 $ 169,931 Finance lease cost: Amortization of right-of-use assets $ 53,000 $ 53,000 Interest on lease liabilities 13,482 20,679 Variable rent expense 25,455 25,455 Total finance lease cost $ 91,937 $ 99,134
Supplemental lease information	Nine Months Ended September 30, 2019 Operating Leases $ 1,455,829 September 30, December 31, 2019 2018 Operating Leases Operating lease right-of-use assets $ 1,314,418 $ 0 Operating lease liabilities $ 1,321,018 $ 0 Finance Leases Property, at cost $ 991,014 $ 991,014 Accumulated depreciation (830,335 ) (777,335 ) Property, net $ 160,679 $ 213,679 Finance lease liabilities $ 174,133 $ 266,747 September 30, December 31, 2019 2018 Weighted Average Remaining Lease Term Operating Leases 4.7 Years 6.0 Years Finance Leases 1.3 Years 2.0 Years Weighted Average Discount Rate Operating Leases 1.28% N/A Finance Leases 7.89% 7.86%
Maturities of operating lease liabilities	Operating Leases 2019 $ 62,672 2020 257,039 2021 210,350 2022 207,380 2023 210,232 Subsequent to 2023 435,872 Total $ 1,383,545
Maturities of finance lease liabilities	Finance Leases 2019 $ 35,365 2020 110,460 2021 39,117 Total minimum lease payments 184,942 Less amount representing interest (10,809 ) Present value of net minimum lease payments $ 174,133
Reconciliation of the undiscounted cash flows in the maturity analysis	Operating Leases Finance Leases Undiscounted cash flows $ 1,383,545 $ 184,942 Discount effect of cash flows (62,527 ) (10,809 ) Lease liabilities $ 1,321,018 $ 174,133

8. Fair Value (Tables)

8. Fair Value (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of fair value assets and liabilities on recurring basis	Level 2 September 30, 2019 December 31, 2018 Assets: (market approach) U.S. GSE debt securities $ 16,807,975 $ 13,751,103 Agency MBS 15,038,495 15,574,525 ABS and OAS 1,885,349 1,986,129 Other investments 8,847,476 8,055,074 Total $ 42,579,295 $ 39,366,831
Schedule of fair value assets and liabilities non-recurring basis	Level 2 September 30, 2019 December 31, 2018 Assets: (market approach) Impaired loans, net of related allowance $ 66,385 $ 0 Loans held-for-sale 1,322,338 0 MSRs (1) 921,115 1,004,948 OREO 73,448 201,386 (1) Represents MSRs at lower of cost or fair value.
Schedule of estimated fair values of financial instruments	September 30, 2019 Fair Fair Fair Fair Carrying Value Value Value Value Amount Level 1 Level 2 Level 3 Total (Dollars in Thousands) Financial assets: Cash and cash equivalents $ 46,599 $ 46,599 $ 0 $ 0 $ 46,599 Debt securities AFS 42,579 0 42,579 0 42,579 Restricted equity securities 1,380 0 1,380 0 1,380 Loans and loans held-for-sale, net of ALL Commercial & industrial 91,797 0 0 91,297 91,297 Commercial real estate 246,322 0 66 245,833 245,899 Municipal(1) 51,935 0 0 51,688 51,688 Residential real estate - 1st lien 160,960 0 1,322 158,933 160,255 Residential real estate - Jr lien 43,875 0 0 43,863 43,863 Consumer 4,657 0 0 4,671 4,671 MSRs (2) 921 0 1,191 0 1,191 Accrued interest receivable 2,162 0 2,162 0 2,162 Financial liabilities: Deposits Other deposits 589,755 0 589,999 0 589,999 Brokered deposits 16,632 0 16,643 0 16,643 Long-term borrowings 1,550 0 1,487 0 1,487 Repurchase agreements 35,770 0 35,770 0 35,770 Operating lease obligations 1,321 0 1,321 0 1,321 Finance lease obligations 174 0 174 0 174 Subordinated debentures 12,887 0 12,827 0 12,827 Accrued interest payable 146 0 146 0 146 (1) Prior to reclassification to the loan portfolio effective January 1, 2019, all loans in this category were reported as HTM securities as a component of Investment Securities. All prior periods have been restated to conform to the reclassification. (2) Reported fair value represents all MSRs for loans serviced by the Company at September 30, 2019, regardless of carrying amount. December 31, 2018 Fair Fair Fair Fair Carrying Value Value Value Value Amount Level 1 Level 2 Level 3 Total (Dollars in Thousands) Financial assets: Cash and cash equivalents $ 67,935 $ 67,935 $ 0 $ 0 $ 67,935 Debt securities AFS 39,367 0 39,367 0 39,367 Restricted equity securities 1,749 0 1,749 0 1,749 Loans and loans held-for-sale, net of ALL Commercial & industrial 80,049 0 0 79,773 79,773 Commercial real estate 232,239 0 0 230,532 230,532 Municipal (1) 47,067 0 0 47,228 47,228 Residential real estate - 1st lien 164,202 0 0 161,068 161,068 Residential real estate - Jr lien 44,260 0 0 44,127 44,127 Consumer 5,031 0 0 5,063 5,063 MSRs (2) 1,005 0 1,481 0 1,481 Accrued interest receivable 2,301 0 2,301 0 2,301 Financial liabilities: Deposits Other deposits 573,525 0 571,952 0 571,952 Brokered deposits 35,292 0 35,247 0 35,247 Long-term borrowings 1,550 0 1,425 0 1,425 Repurchase agreements 30,522 0 30,522 0 30,522 Capital lease obligations 267 0 267 0 267 Subordinated debentures 12,887 0 12,807 0 12,807 Accrued interest payable 113 0 113 0 113 (1) Prior to reclassification to the loan portfolio effective January 1, 2019, all loans in this category were reported as HTM securities as a component of Investment Securities. All prior periods have been restated to conform to the reclassification. (2) Reported fair value represents all MSRs for loans serviced by the Company at December 31, 2018, regardless of carrying amount.

9. Loan Servicing (Tables)

9. Loan Servicing (Tables)	9 Months Ended
	Sep. 30, 2019
Transfers and Servicing of Financial Assets [Abstract]
Schedule of mortgage servicing rights	Nine Months Ended Year Ended September 30, 2019 December 31, 2018 Balance at beginning of year $ 1,004,948 $ 1,083,286 MSRs capitalized 50,302 110,209 MSRs amortized (134,135 ) (188,547 ) Balance at end of period $ 921,115 $ 1,004,948

3. Earnings per Common Share (D

3. Earnings per Common Share (Details) - USD ($)	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Net income, as reported	$ 2,261,943	$ 2,419,298	$ 1,771,905	$ 2,269,732	$ 2,002,654	$ 1,982,543	$ 6,453,146	$ 6,254,929
Less: dividends to preferred shareholders	20,625			25,000			68,750	76,875
Net income available to common shareholders	$ 2,241,318			$ 2,244,732			$ 6,384,396	$ 6,178,054
Weighted average number of common shares used in calculating earnings per share	5,212,162			5,146,817			5,196,630	5,131,654
Earnings per common share	$ 0.43			$ 0.44			$ 1.23	$ 1.20

4. Investment Securities (Detai

4. Investment Securities (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Amortized cost - available for sale securities	$ 42,180,395	$ 40,186,557
Gross unrealized gains - available for sale securities	464,036	15,373
Gross unrealized losses - available for sale securities	65,136	835,099
Fair value - available for sale securities	42,579,295	39,366,831
U.S. GSE debt securities
Amortized cost - available for sale securities	16,715,156	14,010,100
Gross unrealized gains - available for sale securities	103,252	394
Gross unrealized losses - available for sale securities	10,433	259,391
Fair value - available for sale securities	16,807,975	13,751,103
Agency mortgage-backed securities (Agency MBS)
Amortized cost - available for sale securities	15,003,111	16,020,892
Gross unrealized gains - available for sale securities	89,940	2,701
Gross unrealized losses - available for sale securities	54,556	449,068
Fair value - available for sale securities	15,038,495	15,574,525
ABS and OAS
Amortized cost - available for sale securities	1,797,128	1,988,565
Gross unrealized gains - available for sale securities	88,221	3,806
Gross unrealized losses - available for sale securities	0	6,242
Fair value - available for sale securities	1,885,349	1,986,129
Other investments
Amortized cost - available for sale securities	8,665,000	8,167,000
Gross unrealized gains - available for sale securities	182,623	8,472
Gross unrealized losses - available for sale securities	147	120,398
Fair value - available for sale securities	$ 8,847,476	$ 8,055,074

4. Investment Securities (Det_2

4. Investment Securities (Details 1) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Abstract]
Book value of available for sale securities, pledged as collateral for repurchase agreements	$ 42,180,395	$ 40,186,557
Fair value of available for sale securities, pledged as collateral for repurchase agreements	$ 42,579,295	$ 39,366,831

4. Investment Securities (Det_3

4. Investment Securities (Details 2) - Available for sale Securities - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Amortized Cost
Due in one year or less	$ 1,521,908	$ 0
Due from one to five years	12,633,885	12,714,642
Due from five to ten years	12,041,660	11,451,023
Due after ten years	979,831	0
Agency MBS	15,003,111	16,020,892
Total	42,180,395	40,186,557
Fair Value
Due in one year or less	1,522,901	0
Due from one to five years	12,807,696	12,519,008
Due from five to ten years	12,217,358	11,273,298
Due after ten years	992,845	0
Agency MBS	15,038,495	15,574,525
Total	$ 42,579,295	$ 39,366,831

4. Investment Securities (Det_4

4. Investment Securities (Details 3)	9 Months Ended	12 Months Ended
	Sep. 30, 2019USD ($)integer	Dec. 31, 2018USD ($)integer
Available for sale - fair value less than 12 months	$ 3,844,326	$ 6,716,925
Available for sale - unrealized loss less than 12 months	4,075	55,109
Available for sale - fair value 12 months or more	7,901,158	27,621,835
Available for sale - unrealized loss 12 months or more	$ 61,061	$ 779,990
Available for sale - number of securities | integer	23	61
Available for sale - fair value	$ 11,745,484	$ 34,338,760
Available for sale - unrealized loss	65,136	835,099
U.S. GSE debt securities
Available for sale - fair value less than 12 months	1,999,231	1,465,947
Available for sale - unrealized loss less than 12 months	769	6,752
Available for sale - fair value 12 months or more	1,990,336	11,284,761
Available for sale - unrealized loss 12 months or more	$ 9,664	$ 252,639
Available for sale - number of securities | integer	2	11
Available for sale - fair value	$ 3,989,567	$ 12,750,708
Available for sale - unrealized loss	10,433	259,391
Agency mortgage-backed securities (Agency MBS)
Available for sale - fair value less than 12 months	1,845,095	2,317,838
Available for sale - unrealized loss less than 12 months	3,306	22,029
Available for sale - fair value 12 months or more	5,662,969	12,223,386
Available for sale - unrealized loss 12 months or more	$ 51,250	$ 427,039
Available for sale - number of securities | integer	18	24
Available for sale - fair value	$ 7,508,064	$ 14,541,224
Available for sale - unrealized loss	54,556	449,068
ABS and OAS
Available for sale - fair value less than 12 months		976,226
Available for sale - unrealized loss less than 12 months		6,242
Available for sale - fair value 12 months or more		0
Available for sale - unrealized loss 12 months or more		$ 0
Available for sale - number of securities | integer		1
Available for sale - fair value		$ 976,226
Available for sale - unrealized loss	0	6,242
Other investments
Available for sale - fair value less than 12 months	0	1,956,914
Available for sale - unrealized loss less than 12 months	0	20,086
Available for sale - fair value 12 months or more	247,853	4,113,688
Available for sale - unrealized loss 12 months or more	$ 147	$ 100,312
Available for sale - number of securities | integer	3	25
Available for sale - fair value	$ 247,853	$ 6,070,602
Available for sale - unrealized loss	$ 147	$ 120,398

5. Loans, Allowance for Loan _3

5. Loans, Allowance for Loan Losses and Credit Quality (Details) - USD ($)		Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2017
Loans and Leases Receivable Disclosure [Abstract]
Commercial & industrial		$ 92,644,869		$ 80,766,693
Commercial real estate		249,599,721		235,318,148
Municipal	[1]	51,935,005		47,067,023
Residential real estate - 1st lien		161,056,228		165,665,175
Residential real estate - Jr lien		44,161,727		44,544,987
Consumer		4,709,738		5,088,491
Gross loans		604,107,288		578,450,517
Deduct (add):
Allowance for loan losses		5,883,642	$ 5,723,753	5,602,541	$ 5,641,227	$ 5,413,023	$ 5,438,099
Deferred net loan costs		(360,390)		(363,614)
Net loans		$ 598,584,036		$ 573,211,590
[1]	Prior to 2019, all loans in this category were reported as HTM securities as a component of Investment Securities (see Note 4). All periods presented have been restated to conform to the reclassification.

5. Loans, Allowance for Loan _4

5. Loans, Allowance for Loan Losses and Credit Quality (Details 1) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
30-89 days	$ 3,107,557	$ 6,363,675
90 days or more	2,884,537	1,917,425
Total past due	5,992,094	8,281,100
Current	598,115,194	570,169,417
Total loans	604,107,288	578,450,517
Non-accrual loans	5,338,884	4,263,286
90 days or more and accruing	1,150,549	729,106
Commercial and industrial
30-89 days	174,959	217,385
90 days or more	162,330	0
Total past due	337,289	217,385
Current	92,307,580	80,549,308
Total loans	92,644,869	80,766,693
Non-accrual loans	570,171	84,814
90 days or more and accruing	0	0
Commercial Real Estate
30-89 days	536,098	1,509,839
90 days or more	261,321	190,789
Total past due	797,419	1,700,628
Current	248,802,302	233,617,520
Total loans	249,599,721	235,318,148
Non-accrual loans	1,746,986	1,742,993
90 days or more and accruing	0	0
Municipal
30-89 days	0	0
90 days or more	0	0
Total past due	0	0
Current	51,935,005	47,067,023
Total loans	51,935,005	47,067,023
Non-accrual loans	0	0
90 days or more and accruing	0	0
Residential real estate - 1st lien
30-89 days	1,896,729	4,108,319
90 days or more	2,166,286	1,371,061
Total past due	4,063,015	5,479,380
Current	156,993,213	160,185,795
Total loans	161,056,228	165,665,175
Non-accrual loans	2,754,912	2,026,939
90 days or more and accruing	969,072	622,486
Residential real estate - Jr lien
30-89 days	475,345	484,855
90 days or more	294,600	353,914
Total past due	769,945	838,769
Current	43,391,782	43,706,218
Total loans	44,161,727	44,544,987
Non-accrual loans	266,815	408,540
90 days or more and accruing	181,477	104,959
Consumer
30-89 days	24,426	43,277
90 days or more	0	1,661
Total past due	24,426	44,938
Current	4,685,312	5,043,553
Total loans	4,709,738	5,088,491
Non-accrual loans	0	0
90 days or more and accruing	$ 0	$ 1,661

5. Loans, Allowance for Loan _5

5. Loans, Allowance for Loan Losses and Credit Quality (Details 2)	Sep. 30, 2019USD ($)integer	Dec. 31, 2018USD ($)integer
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Residential mortgage loans in process of foreclosure, number of loans | integer	13	12
Residential mortgage loans in process of foreclosure, current balance | $	$ 864,019	$ 961,709

5. Loans, Allowance for Loan _6

5. Loans, Allowance for Loan Losses and Credit Quality (Details 3) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Allowance for loan losses, beginning balance	$ 5,723,753	$ 5,413,023	$ 5,602,541	$ 5,438,099	$ 5,438,099
Charge-offs	(267,333)	(50,092)	(541,757)	(481,832)	(742,020)
Recoveries	14,723	68,296	56,190	114,960	126,462
Provisions (credit)	412,499	210,000	766,668	570,000	780,000
Allowance for loan losses, ending balance	5,883,642	5,641,227	5,883,642	5,641,227	5,602,541
Allowance for loan losses evaluated for impairment, individually	205,180		205,180		114,726
Allowance for loan losses evaluated for impairment, collectively	5,678,462		5,678,462		5,487,815
Allowance for loan losses	5,883,642		5,883,642		5,602,541
Loans evaluated for impairment, individually	7,729,644		7,729,644		6,519,121
Loans evaluated for impairment, collectively	596,377,644		596,377,644		571,931,396
Total loans	604,107,288		604,107,288		578,450,517
Commercial and industrial
Allowance for loan losses, beginning balance	715,132	785,089	697,469	675,687	675,687
Charge-offs	(6,795)	0	(10,368)	(131,273)	(152,860)
Recoveries	1,690	34,818	10,768	54,858	60,192
Provisions (credit)	133,632	(34,687)	145,790	185,948	114,450
Allowance for loan losses, ending balance	843,659	785,220	843,659	785,220	697,469
Allowance for loan losses evaluated for impairment, individually	95,945		95,945		0
Allowance for loan losses evaluated for impairment, collectively	747,714		747,714		697,469
Allowance for loan losses	843,659		843,659		697,469
Loans evaluated for impairment, individually	570,172		570,172		60,846
Loans evaluated for impairment, collectively	92,074,697		92,074,697		80,705,847
Total loans	92,644,869		92,644,869		80,766,693
Commercial Real Estate
Allowance for loan losses, beginning balance	3,094,781	2,708,239	3,019,868	2,674,029	2,674,029
Charge-offs	(101,476)	0	(116,186)	(124,645)	(124,645)
Recoveries	0	0	0	0	0
Provisions (credit)	272,858	102,491	362,481	261,346	470,484
Allowance for loan losses, ending balance	3,266,163	2,810,730	3,266,163	2,810,730	3,019,868
Allowance for loan losses evaluated for impairment, individually	0		0		0
Allowance for loan losses evaluated for impairment, collectively	3,266,163		3,266,163		3,019,868
Allowance for loan losses	3,266,163		3,266,163		3,019,868
Loans evaluated for impairment, individually	1,849,290		1,849,290		1,746,894
Loans evaluated for impairment, collectively	247,750,431		247,750,431		233,571,254
Total loans	249,599,721		249,599,721		235,318,148
Municipal
Allowance for loan losses, beginning balance	0	0	0	0	0
Charge-offs	0	0	0	0	0
Recoveries	0	0	0	0	0
Provisions (credit)	0	0	0	0	0
Allowance for loan losses, ending balance	0	0	0	0	0
Allowance for loan losses evaluated for impairment, individually	0		0		0
Allowance for loan losses evaluated for impairment, collectively	0		0		0
Allowance for loan losses	0		0		0
Loans evaluated for impairment, individually	0		0		0
Loans evaluated for impairment, collectively	51,935,005		51,935,005		47,067,023
Total loans	51,935,005		51,935,005		47,067,023
Residential Real Estate - 1st Lien
Allowance for loan losses, beginning balance	1,427,357	1,398,041	1,421,494	1,460,547	1,460,547
Charge-offs	(147,724)	(591)	(242,244)	(79,025)	(251,654)
Recoveries	1,059	17,353	11,131	26,511	26,832
Provisions (credit)	130,189	(18,277)	220,500	(11,507)	185,769
Allowance for loan losses, ending balance	1,410,881	1,396,526	1,410,881	1,396,526	1,421,494
Allowance for loan losses evaluated for impairment, individually	107,526		107,526		112,969
Allowance for loan losses evaluated for impairment, collectively	1,303,355		1,303,355		1,308,525
Allowance for loan losses	1,410,881		1,410,881		1,421,494
Loans evaluated for impairment, individually	5,129,666		5,129,666		4,392,060
Loans evaluated for impairment, collectively	155,926,562		155,926,562		161,273,115
Total loans	161,056,228		161,056,228		165,665,175
Residential Real Estate Jr Lien
Allowance for loan losses, beginning balance	287,984	287,602	273,445	316,982	316,982
Charge-offs	0	(12,174)	(102,000)	(36,174)	(69,173)
Recoveries	485	260	1,486	935	1,420
Provisions (credit)	(3,402)	78,108	112,136	72,053	24,216
Allowance for loan losses, ending balance	285,067	353,796	285,067	353,796	273,445
Allowance for loan losses evaluated for impairment, individually	1,709		1,709		1,757
Allowance for loan losses evaluated for impairment, collectively	283,358		283,358		271,688
Allowance for loan losses	285,067		285,067		273,445
Loans evaluated for impairment, individually	180,516		180,516		319,321
Loans evaluated for impairment, collectively	43,981,211		43,981,211		44,225,666
Total loans	44,161,727		44,161,727		44,544,987
Consumer
Allowance for loan losses, beginning balance	53,410	51,635	56,787	43,303	43,303
Charge-offs	(11,338)	(37,327)	(70,959)	(110,715)	(143,688)
Recoveries	11,489	15,865	32,805	32,656	38,018
Provisions (credit)	(454)	21,590	34,474	86,519	119,154
Allowance for loan losses, ending balance	53,107	51,763	53,107	51,763	56,787
Allowance for loan losses evaluated for impairment, individually	0		0		0
Allowance for loan losses evaluated for impairment, collectively	53,107		53,107		56,787
Allowance for loan losses	53,107		53,107		56,787
Loans evaluated for impairment, individually	0		0		0
Loans evaluated for impairment, collectively	4,709,738		4,709,738		5,088,491
Total loans	4,709,738		4,709,738		5,088,491
Unallocated
Allowance for loan losses, beginning balance	145,089	182,417	133,478	267,551	267,551
Charge-offs	0	0	0	0	0
Recoveries	0	0	0	0	0
Provisions (credit)	(120,324)	60,775	(108,713)	(24,359)	(134,073)
Allowance for loan losses, ending balance	24,765	$ 243,192	24,765	$ 243,192	133,478
Allowance for loan losses evaluated for impairment, individually	0		0		0
Allowance for loan losses evaluated for impairment, collectively	24,765		24,765		133,478
Allowance for loan losses	24,765		24,765		$ 133,478
Loans evaluated for impairment, individually	0		0
Loans evaluated for impairment, collectively	0		0
Total loans	$ 0		$ 0

5. Loans, Allowance for Loan _7

5. Loans, Allowance for Loan Losses and Credit Quality (Details 4) - USD ($)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Recorded investment with an allowance recorded	$ 1,284,362	$ 1,075,557	$ 1,284,362	$ 1,075,557	$ 949,636
Unpaid principal balance with an allowance recorded	1,407,139	1,121,699	1,407,139	1,121,699	970,615
Related allowance with an allowance recorded	205,180	224,099	205,180	224,099	114,726
Average recorded investment with an allowance recorded	1,177,547	936,413	1,177,877	977,015	971,539
Interest income recognized with an allowance recorded			70,776	47,292	45,490
Recorded investment with no related allowance recorded	6,466,313	5,765,922	6,466,313	5,765,922	5,586,358
Unpaid principal balance with no related allowance recorded	7,731,309	6,542,749	7,731,309	6,542,749	6,490,501
Average recorded investment with no related allowance recorded	6,750,981	5,934,773	6,183,345	5,501,486	5,518,460
Interest income recognized with no related allowance recorded			181,574	237,112	107,444
Recorded investment allowance recorded	7,750,675	6,841,479	7,750,675	6,841,479	6,535,994
Unpaid principal balance allowance recorded	9,138,448	7,664,448	9,138,448	7,664,448	7,461,116
Average recorded investment allowance recorded	7,928,528	6,871,186	7,361,222	6,478,501	6,489,999
Interest income recognized			252,350	284,404	152,934
Commercial and industrial
Recorded investment with an allowance recorded	162,330		162,330
Unpaid principal balance with an allowance recorded	162,330		162,330
Related allowance with an allowance recorded	95,945		95,945
Average recorded investment with an allowance recorded	81,165		40,583	0
Interest income recognized with an allowance recorded			0	0
Recorded investment with no related allowance recorded	407,841	62,879	407,841	62,879	60,846
Unpaid principal balance with no related allowance recorded	426,051	82,267	426,051	82,267	80,894
Average recorded investment with no related allowance recorded	507,336	129,979	278,776	135,944	120,924
Interest income recognized with no related allowance recorded			4,077	0	0
Commercial Real Estate
Recorded investment with an allowance recorded	0	0	0	0	0
Unpaid principal balance with an allowance recorded	0	0	0	0	0
Related allowance with an allowance recorded	0	0	0	0	0
Average recorded investment with an allowance recorded	0	0	122,150	72,073	57,658
Interest income recognized with an allowance recorded			0	0	0
Recorded investment with no related allowance recorded	1,849,859	1,879,357	1,849,859	1,879,357	1,748,323
Unpaid principal balance with no related allowance recorded	2,273,987	2,082,229	2,273,987	2,082,229	1,975,831
Average recorded investment with no related allowance recorded	1,951,505	1,972,312	1,841,103	1,642,662	1,663,794
Interest income recognized with no related allowance recorded			13,223	56,857	13,131
Residential real estate - 1st lien
Recorded investment with an allowance recorded	1,114,686	857,688	1,114,686	857,688	942,365
Unpaid principal balance with an allowance recorded	1,135,476	900,987	1,135,476	900,987	963,367
Related allowance with an allowance recorded	107,526	141,863	107,526	141,863	112,969
Average recorded investment with an allowance recorded	1,089,372	823,580	1,008,088	809,816	836,326
Interest income recognized with an allowance recorded			70,281	46,721	45,139
Recorded investment with no related allowance recorded	4,035,429	3,671,955	4,035,429	3,671,955	3,465,117
Unpaid principal balance with no related allowance recorded	4,808,932	4,225,575	4,808,932	4,225,575	4,082,637
Average recorded investment with no related allowance recorded	4,108,857	3,607,829	3,819,787	3,505,936	3,497,772
Interest income recognized with no related allowance recorded			164,274	180,255	94,313
Residential real estate - Jr lien
Recorded investment with an allowance recorded	7,346	217,869	7,346	217,869	7,271
Unpaid principal balance with an allowance recorded	109,333	220,712	109,333	220,712	7,248
Related allowance with an allowance recorded	1,709	82,236	1,709	82,236	1,757
Average recorded investment with an allowance recorded	7,010	112,833	7,056	95,126	77,555
Interest income recognized with an allowance recorded			495	571	351
Recorded investment with no related allowance recorded	173,184	151,731	173,184	151,731	312,072
Unpaid principal balance with no related allowance recorded	222,339	152,678	222,339	152,678	351,139
Average recorded investment with no related allowance recorded	$ 183,283	$ 224,653	243,679	216,944	235,970
Interest income recognized with no related allowance recorded			$ 0	$ 0	$ 0

5. Loans, Allowance for Loan _8

5. Loans, Allowance for Loan Losses and Credit Quality (Details 5) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Group A	$ 585,806,499	$ 562,636,225
Group B	2,913,803	562,112
Group C	15,386,986	15,252,180
Total loans	604,107,288	578,450,517
Commercial and industrial
Group A	90,358,067	78,585,348
Group B	176,070	90,763
Group C	2,110,732	2,090,582
Total loans	92,644,869	80,766,693
Commercial Real Estate
Group A	238,563,693	226,785,919
Group B	2,737,733	246,357
Group C	8,298,295	8,285,872
Total loans	249,599,721	235,318,148
Municipal
Group A	51,935,005	47,067,023
Group B	0	0
Group C	0	0
Total loans	51,935,005	47,067,023
Residential real estate - 1st lien
Group A	156,675,620	161,293,233
Group B	0	224,992
Group C	4,380,608	4,146,950
Total loans	161,056,228	165,665,175
Residential real estate - Jr lien
Group A	43,564,376	43,817,872
Group B	0	0
Group C	597,351	727,115
Total loans	44,161,727	44,544,987
Consumer
Group A	4,709,738	5,086,830
Group B	0	0
Group C	0	1,661
Total loans	$ 4,709,738	$ 5,088,491

5. Loans, Allowance for Loan _9

5. Loans, Allowance for Loan Losses and Credit Quality (Details 6)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019USD ($)integer	Sep. 30, 2018USD ($)integer	Sep. 30, 2019USD ($)integer	Sep. 30, 2018USD ($)integer	Dec. 31, 2018USD ($)integer
Number of contracts modified as TDRs | integer	2	1	9	8	11
Pre-Modification outstanding recorded investment	$ 309,896	$ 49,108	$ 887,724	$ 947,671	$ 1,438,250
Post-Modification outstanding recorded investment	$ 320,510	$ 50,814	$ 929,557	$ 1,054,280	$ 1,549,009
Commercial and industrial
Number of contracts modified as TDRs | integer	1		3
Pre-Modification outstanding recorded investment	$ 288,912		$ 338,129
Post-Modification outstanding recorded investment	$ 288,912		$ 338,129
Commercial Real Estate
Number of contracts modified as TDRs | integer	0		1		1
Pre-Modification outstanding recorded investment	$ 0		$ 19,265		$ 406,920
Post-Modification outstanding recorded investment	$ 0		$ 21,628		$ 406,920
Residential real estate - 1st lien
Number of contracts modified as TDRs | integer	1	1	5	8	10
Pre-Modification outstanding recorded investment	$ 20,984	$ 49,108	$ 530,330	$ 947,671	$ 1,031,330
Post-Modification outstanding recorded investment	$ 31,598	$ 50,814	$ 569,800	$ 1,054,280	$ 1,142,089

5. Loans, Allowance for Loan_10

5. Loans, Allowance for Loan Losses and Credit Quality (Details 7)	9 Months Ended		12 Months Ended
	Sep. 30, 2019USD ($)integer	Sep. 30, 2018USD ($)integer	Dec. 31, 2018USD ($)integer
Number of contracts | integer	1	3	4
Recorded investment | $	$ 376,864	$ 479,652	$ 918,858
Commercial Real Estate
Number of contracts | integer	1		1
Recorded investment | $	$ 376,864		$ 400,646
Residential Real Estate - 1st Lien
Number of contracts | integer		3	3
Recorded investment | $		$ 479,652	$ 518,212

5. Loans, Allowance for Loan_11

5. Loans, Allowance for Loan Losses and Credit Quality (Details 8) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Specific allocation	$ 108,246	$ 114,726

6. Goodwill and Other Intangi_2

6. Goodwill and Other Intangible Assets (Details Narrative) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 11,574,269	$ 11,574,269

7. Leases (Details)

7. Leases (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Leases [Abstract]
Operating lease cost	$ 64,869	$ 56,785	$ 190,607	$ 169,931
Amortization of right-of-use assets	17,667	17,667	53,000	53,000
Interest on lease liabilities	3,868	6,315	13,482	20,679
Variable rent expense	8,485	8,485	25,455	25,455
Finance lease cost	$ 30,020	$ 32,467	$ 91,937	$ 99,134

7. Leases (Details 1)

7. Leases (Details 1) - USD ($)	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Leases [Abstract]
Operating leases	$ 1,455,829
Operating Leases
Operating lease right-of-use assets	1,314,418	$ 0
Operating lease liabilities	1,321,018	0
Finance Leases
Property, at cost	991,014	991,014
Accumulated depreciation	(830,335)	(777,335)
Property, net	160,679	213,679
Finance lease liabilities	$ 174,133	$ 266,747

7. Leases (Details 2)

7. Leases (Details 2)	Sep. 30, 2019	Dec. 31, 2018
Leases [Abstract]
Weighted average remaining lease term - operating leases	4 years 8 months 12 days	6 years
Weighted average remaining lease term - finance leases	1 year 3 months 18 days	2 years
Weighted average discount rate - operating leases	1.28%
Weighted average discount rate - finance leases	7.89%	7.86%

7. Leases (Details 3)

7. Leases (Details 3)	Sep. 30, 2019USD ($)
Operating Leases
2019	$ 62,672
2020	257,039
2021	210,350
2022	207,380
2023	210,232
Subsequent to 2023	435,872
Total	$ 1,383,545

7. Leases (Details 4)

7. Leases (Details 4) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Finance Leases
2019	$ 35,365
2020	110,460
2021	39,117
Total minimum lease payments	184,942
Less amount representing interest	(10,809)
Present value of net minimum lease payments	$ 174,133	$ 266,747

7. Leases (Details 5)

7. Leases (Details 5) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Leases [Abstract]
Operating lease undiscounted cash flows	$ 1,383,545
Operating lease discount effect of cash flows	(62,527)
Operating lease liabilities	1,321,018	$ 0
Finance lease undiscounted cash flows	184,942
Finance lease discount effect of cash flows	(10,809)
Finance lease liabilities	$ 174,133	$ 266,747

8. Fair Value (Details)

8. Fair Value (Details) - Fair Value Level 2 - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Assets: (market approach)
U.S. GSE debt securities	$ 16,807,975	$ 13,751,103
Agency MBS	15,038,495	15,574,525
ABS and OAS	1,885,349	1,986,129
Other investments	8,847,476	8,055,074
Total	$ 42,579,295	$ 39,366,831

8. Fair Value (Details 1)

8. Fair Value (Details 1) - USD ($)		Sep. 30, 2019	Dec. 31, 2018
Assets: (market approach)
Loans held-for-sale		$ 1,322,338	$ 0
Fair Value Level 2
Assets: (market approach)
Impaired loans, net of related allowance		66,385	0
Loans held-for-sale		1,322,338	0
MSRs	[1]	921,115	1,004,948
OREO		$ 73,448	$ 201,386
[1]	Represents MSRs at lower of cost or fair value.

8. Fair Value (Details 2)

8. Fair Value (Details 2) - USD ($)		Sep. 30, 2019	Dec. 31, 2018
Deposits
Operating lease obligations		$ 1,321,018	$ 0
Finance lease obligations		174,133	266,747
Carrying Amount
Financial assets: (Dollars in Thousands)
Cash and cash equivalents		46,599	67,935
Debt securities AFS		42,579	39,367
Restricted equity securities		1,380	1,749
Commercial & industrial		91,797	80,049
Commercial real estate		246,322	232,239
Municipal	[1]	51,935	47,067
Residential real estate - 1st lien		160,960	164,202
Residential real estate - Jr. lien		43,875	44,260
Consumer		4,657	5,031
MSRs	[2]	921	1,005
Accrued interest receivable		2,162	2,301
Deposits
Deposits, other deposits		589,755	573,525
Deposits, brokered deposits		16,632	35,292
Long-term borrowings		1,550	1,550
Repurchase agreements		35,770	30,522
Operating lease obligations		1,321
Finance lease obligations		174	267
Subordinated debentures		12,887	12,887
Accrued interest payable		146	113
Fair Value Level 1
Financial assets: (Dollars in Thousands)
Cash and cash equivalents		46,599	67,935
Debt securities AFS		0	0
Restricted equity securities		0	0
Commercial & industrial		0	0
Commercial real estate		0	0
Municipal	[1]	0	0
Residential real estate - 1st lien		0	0
Residential real estate - Jr. lien		0	0
Consumer		0	0
MSRs	[2]	0	0
Accrued interest receivable		0	0
Deposits
Deposits, other deposits		0	0
Deposits, brokered deposits		0	0
Long-term borrowings		0	0
Repurchase agreements		0	0
Operating lease obligations		0
Finance lease obligations		0	0
Subordinated debentures		0	0
Accrued interest payable		0	0
Fair Value Level 2
Financial assets: (Dollars in Thousands)
Cash and cash equivalents		0	0
Debt securities AFS		42,579	39,367
Restricted equity securities		1,380	1,749
Commercial & industrial		0	0
Commercial real estate		66	0
Municipal	[1]	0	0
Residential real estate - 1st lien		1,322	0
Residential real estate - Jr. lien		0	0
Consumer		0	0
MSRs	[2]	1,191	1,481
Accrued interest receivable		2,162	2,301
Deposits
Deposits, other deposits		589,999	571,952
Deposits, brokered deposits		16,643	35,247
Long-term borrowings		1,487	1,425
Repurchase agreements		35,770	30,522
Operating lease obligations		1,321
Finance lease obligations		174	267
Subordinated debentures		12,827	12,807
Accrued interest payable		146	113
Fair Value Level 3
Financial assets: (Dollars in Thousands)
Cash and cash equivalents		0	0
Debt securities AFS		0	0
Restricted equity securities		0	0
Commercial & industrial		91,297	79,773
Commercial real estate		245,833	230,532
Municipal	[1]	51,688	47,228
Residential real estate - 1st lien		158,933	161,068
Residential real estate - Jr. lien		43,863	44,127
Consumer		4,671	5,063
MSRs	[2]	0	0
Accrued interest receivable		0	0
Deposits
Deposits, other deposits		0	0
Deposits, brokered deposits		0	0
Long-term borrowings		0	0
Repurchase agreements		0	0
Operating lease obligations		0
Finance lease obligations		0	0
Subordinated debentures		0	0
Accrued interest payable		0	0
Fair Value
Financial assets: (Dollars in Thousands)
Cash and cash equivalents		46,599	67,935
Debt securities AFS		42,579	39,367
Restricted equity securities		1,380	1,749
Commercial & industrial		91,297	79,773
Commercial real estate		245,899	230,532
Municipal	[1]	51,688	47,228
Residential real estate - 1st lien		160,255	161,068
Residential real estate - Jr. lien		43,863	44,127
Consumer		4,671	5,063
MSRs	[2]	1,191	1,481
Accrued interest receivable		2,162	2,301
Deposits
Deposits, other deposits		589,999	571,952
Deposits, brokered deposits		16,643	35,247
Long-term borrowings		1,487	1,425
Repurchase agreements		35,770	30,522
Operating lease obligations		1,321
Finance lease obligations		174	267
Subordinated debentures		12,827	12,807
Accrued interest payable		$ 146	$ 113
[1]	Prior to reclassification to the loan portfolio effective January 1, 2019, all loans in this category were reported as HTM securities as a component of Investment Securities. All prior periods have been restated to conform to the reclassification.
[2]	Reported fair value represents all MSRs for loans serviced by the Company, regardless of carrying amount.

9. Loan Servicing (Details)

9. Loan Servicing (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Transfers and Servicing of Financial Assets [Abstract]
Balance at beginning of year	$ 1,004,948	$ 1,083,286
Mortgage servicing rights capitalized	50,302	110,209
Mortgage servicing rights amortized	(134,135)	(188,547)
Balance at end of period	$ 921,115	$ 1,004,948