Community Bancorp (CMTV) 10-Q 13 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	May 04, 2022
Cover [Abstract]
Entity Registrant Name	COMMUNITY BANCORP /VT
Entity Central Index Key	0000718413
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Document Period End Date	Mar. 31, 2022
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Entity Common Stock Shares Outstanding		5,391,518
Entity File Number	000-16435
Entity Incorporation State Country Code	VT
Entity Tax Identification Number	03-0284070
Entity Interactive Data Current	Yes
Entity Address Address Line 1	4811 US Route 5
Entity Address City Or Town	Derby
Entity Address State Or Province	VT
Entity Address Postal Zip Code	05829
City Area Code	802
Local Phone Number	334-7915
Document Quarterly Report	true
Document Transition Report	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Assets
Cash And Due From Banks	$ 17,330,851	$ 17,839,374
Federal Funds Sold And Overnight Deposits	67,121,921	92,519,552
Total Cash And Cash Equivalents	84,452,772	110,358,926
Securities Available-for-sale	185,755,566	182,342,459
Restricted Equity Securities, At Cost	1,390,950	1,434,450
Loans Held-for-sale	246,000	339,000
Loans	696,293,182	689,988,533
Allowance For Loan Losses	(7,890,648)	(7,710,256)
Deferred Net Loan Cost (fees)	274,346	(37,972)
Net Loans	688,676,880	682,240,305
Bank Premises And Equipment, Net	13,503,142	13,767,328
Accrued Interest Receivable	2,719,138	2,400,560
Bank Owned Life Insurance	5,093,288	5,073,228
Goodwill	11,574,269	11,574,269
Other Assets	11,778,865	9,575,274
Total Assets	1,005,190,870	1,019,105,799
Deposits:
Demand, Non-interest Bearing	203,661,459	209,465,151
Interest-bearing Transaction Accounts	258,401,561	265,513,937
Money Market Funds	130,731,075	129,728,954
Savings	177,994,875	168,390,905
Time Deposits, $250,000 And Over	17,106,871	17,463,871
Other Time Deposits	89,404,604	88,837,135
Total Deposits	877,300,445	879,399,953
Borrowed Funds	1,300,000	1,300,000
Repurchase Agreements	28,744,011	32,609,875
Junior Subordinated Debentures	12,887,000	12,887,000
Accrued Interest And Other Liabilities	7,514,626	8,148,703
Total Liabilities	927,746,082	934,345,531
Shareholders' Equity
Preferred Stock, 1,000,000 Shares Authorized, 15 Shares Issued And Outstanding At 03/31/22 And 12/31/21 ($100,000 Liquidation Value, Per Share)	1,500,000	1,500,000
Common Stock - $2.50 Par Value; 15,000,000 Shares Authorized, 5,602,178 Shares Issued At 03/31/22 And 5,587,939 Shares Issued At 12/31/21	14,005,445	13,969,848
Additional Paid-in Capital	35,559,149	35,322,063
Retained Earnings	38,914,579	37,758,105
Accumulated Other Comprehensive Loss	(9,911,608)	(1,166,971)
Less: Treasury Stock, At Cost; 210,101 Shares At 03/31/22 And 12/31/21	(2,622,777)	(2,622,777)
Total Shareholders' Equity	77,444,788	84,760,268
Total Liabilities And Shareholders' Equity	$ 1,005,190,870	$ 1,019,105,799
Book Value Per Common Share Outstanding	$ 14.08	$ 15.48

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Consolidated Balance Sheets
Time Deposits, Over	$ 250,000	$ 250,000
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Preferred Stock, Shares Issued	15	15
Preferred Stock, Shares Outstanding	15	15
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)	5,602,178	5,587,939
Treasury Stock (in Shares)	210,101	210,101

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Interest Income
Interest And Fees On Loans	$ 7,487,200	$ 8,253,296
Interest On Debt Securities	667,226	265,112
Dividends	16,460	10,619
Interest On Federal Funds Sold And Overnight Deposits	80,660	87,883
Total Interest Income	8,251,546	8,616,910
Interest Expense
Interest On Deposits	551,959	705,244
Interest On Borrowed Funds	21,965	14,941
Interest On Repurchase Agreements	21,040	35,442
Interest On Junior Subordinated Debentures	98,352	98,795
Total Interest Expense	693,316	854,422
Net Interest Income	7,558,230	7,762,488
Provision For Loan Losses	862,500	267,497
Net Interest Income After Provision For Loan Losses	6,695,730	7,494,991
Non-interest Income
Service Fees	862,887	788,623
Income From Sold Loans	203,842	185,006
Other Income From Loans	271,260	183,274
Other Income	348,440	415,328
Total Non-interest Income	1,686,429	1,572,231
Non-interest Expense
Salaries And Wages	2,040,000	1,975,003
Employee Benefits	772,052	831,210
Occupancy Expenses, Net	753,364	744,720
Other Expenses	1,888,172	1,814,118
Total Non-interest Expense	5,453,588	5,365,051
Income Before Income Taxes	2,928,571	3,702,171
Income Tax Expense	523,029	676,470
Net Income	$ 2,405,542	$ 3,025,701
Earnings Per Common Share	$ 0.44	$ 0.57
Weighted Average Number Of Common Shares Used In Computing Earnings Per Share	5,382,678	5,322,404
Dividends Declared Per Common Share	$ 0.23	$ 0.22

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Consolidated Statements of Comprehensive Income (Unaudited)
Net Income	$ 2,405,542	$ 3,025,701
Other Comprehensive Loss, Net Of Tax:
Unrealized Holding Loss On Securities Afs Arising During The Period	(11,069,161)	(1,660,640)
Tax Effect	2,324,524	348,735
Other Comprehensive Loss, Net Of Tax	(8,744,637)	(1,311,905)
Total Comprehensive (loss) Income	$ (6,339,095)	$ 1,713,796

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($)	Total	Common Stock	Preferred Stock	Additional Paid-In Capital	Retained Earnings	Accumulated other comprehensive (loss) income	Treasury Stock
Balance, Amount at Dec. 31, 2020	$ 77,288,713	$ 13,818,450	$ 1,500,000	$ 34,309,646	$ 29,368,046	$ 915,348	$ (2,622,777)
Issuance Of Common Stock	264,779	42,523		222,256
Common Stock	(1,169,555)				(1,169,555)
Preferred Stock	(12,188)				(12,188)
Net Income	3,025,701				3,025,701
Other Comprehensive Loss	(1,311,905)					(1,311,905)
Balance, Amount at Mar. 31, 2021	78,085,545	13,860,973	1,500,000	34,531,902	31,212,004	(396,557)	(2,622,777)
Balance, Amount at Dec. 31, 2021	84,760,268	13,969,848	1,500,000	35,322,063	37,758,105	(1,166,971)	(2,622,777)
Issuance Of Common Stock	272,683	35,597		237,086
Common Stock	(1,236,880)				(1,236,880)
Preferred Stock	(12,188)				(12,188)
Net Income	2,405,542				2,405,542
Other Comprehensive Loss	(8,744,637)					(8,744,637)
Balance, Amount at Mar. 31, 2022	$ 77,444,788	$ 14,005,445	$ 1,500,000	$ 35,559,149	$ 38,914,579	$ (9,911,608)	$ (2,622,777)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash Flows From Operating Activities:
Net Income	$ 2,405,542	$ 3,025,701
Adjustments To Reconcile Net Income To Net Cash Provided By Operating Activities:
Depreciation And Amortization, Bank Premises And Equipment	285,202	259,449
Provision For Loan Losses	862,500	267,497
Deferred Income Tax	47,344	16,608
Gain On Sale Of Loans	(102,945)	(114,211)
(income) Loss From Cfs Partners	(225,870)	1,693,014
Amortization Of Bond Premium, Net	186,967	95,456
Proceeds From Sales Of Loans Held For Sale	4,425,711	2,145,611
Originations Of Loans Held For Sale	(4,229,766)	(2,435,200)
Increase In Taxes Payable	408,593	569,100
Increase In Interest Receivable	(318,578)	(250,630)
(increase) Decrease In Mortgage Servicing Rights	(2,374)	38,280
Decrease In Right-of-use Assets	49,669	49,031
Decrease In Operating Lease Liabilities	(51,283)	(49,198)
Increase In Other Assets	(173,852)	(148,665)
Increase In Cash Surrender Value Of Boli	(20,060)	(21,673)
Amortization Of Limited Partnerships	67,092	90,762
Change In Net Deferred Loan Fees And Costs	(312,318)	1,076,424
Decrease In Interest Payable	(1,332)	(12,953)
Decrease In Accrued Expenses	(567,062)	(420,431)
(decrease) Increase In Other Liabilities	(24,896)	3,175
Net Cash Provided By Operating Activities	2,708,284	5,877,147
Cash Flows From Investing Activities:
Maturities, Calls, Pay Downs And Sales	4,434,388	4,383,743
Purchases	(19,103,623)	(27,371,666)
Proceeds From Redemption Of Restricted Equity Securities	43,500	0
Decrease In Limited Partnership Contributions Payable	0	150,000
Increase In Loans, Net	6,998,537	20,167,317
Capital Expenditures Net Of Proceeds From Sales Of Bank Premises And Equipment	70,686	2,657,300
Recoveries Of Loans Charged Off	11,780	25,314
Net Cash Used In Investing Activities	(21,683,178)	(45,937,226)
Cash Flows From Financing Activities:
Net (decrease) Increase In Demand And Interest-bearing Transaction Accounts	(12,916,068)	7,863,790
Net Increase In Money Market And Savings Accounts	10,606,091	19,474,878
Net Increase (decrease) In Time Deposits	210,469	(3,639,187)
Net Decrease In Repurchase Agreements	(3,865,864)	(6,627,854)
Repayments On Long-term Borrowings	0	(500,000)
(decrease) Increase In Finance Lease Obligations	(52,807)	2,388,819
Dividends Paid On Preferred Stock	(12,188)	(12,188)
Dividends Paid On Common Stock	(900,893)	(743,679)
Net Cash (used In) Provided By Financing Activities	(6,931,260)	18,204,579
Net Decrease In Cash And Cash Equivalents	(25,906,154)	(21,855,500)
Beginning	110,358,926	115,049,920
Ending	84,452,772	93,194,420
Supplemental Schedule Of Cash Paid During The Period:
Interest	694,648	867,375
Supplemental Schedule Of Noncash Investing And Financing Activities:
Change In Unrealized Loss On Securities Afs	(11,069,161)	(1,660,640)
Common Shares Dividends Paid:
Dividends Declared	1,236,880	1,169,555
Increase In Dividends Payable Attributable To Dividends Declared	(63,304)	(161,097)
Dividends Reinvested	(272,683)	(264,779)
Total Dividends Paid	$ 900,893	$ 743,679

Basis of Presentation and Conso

Basis of Presentation and Consolidation and Certain Definitions	3 Months Ended
	Mar. 31, 2022
Basis of Presentation and Consolidation and Certain Definitions
Note 1. Basis Of Presentation And Consolidation And Certain Definitions	Note 1. Basis of Presentation and Consolidation and Certain Definitions Basis of Presentation and Consolidation. There were no reclassifications to the consolidated financial statements for the periods presented. The Company is considered a “smaller reporting company” under the disclosure rules of the SEC, as amended in 2018. Accordingly, the Company has elected to provide its audited consolidated statements of income, comprehensive income, cash flows and changes in shareholders’ equity for a two year, rather than a three year, period, and provides smaller reporting company scaled disclosures where management deems it appropriate. 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: Asset backed security FASB: Financial Accounting Standards Board AFS: Available-for-sale FDIC: Federal Deposit Insurance Corporation Agency MBS: MBS issued by a US government agency FHLBB: Federal Home Loan Bank of Boston or GSE FHLMC: Federal Home Loan Mortgage Corporation ALCO: Asset Liability Committee FOMC: Federal Open Market Committee ALL: Allowance for loan losses FRB: Federal Reserve Board AOCI: Accumulated other comprehensive income FRBB: Federal Reserve Bank of Boston ASC: Accounting Standards Codification GAAP: Generally Accepted Accounting Principles ASU: Accounting Standards Update in the United States Bancorp: Community Bancorp. GSE: Government sponsored enterprise Bank: Community National Bank HTM: Held-to-maturity BIC: Borrower-in-Custody ICS: Insured Cash Sweeps of the InterFi Network Board: Board of Directors IRS: Internal Revenue Service BOLI: Bank owned life insurance JNE: Jobs for New England bp or bps: Basis point(s) Jr: Junior CARES ACT: Coronavirus Aid Relief and Economic MBS: Mortgage-backed security Security Act MSRs: Mortgage servicing rights CBLR: Community Bank Leverage Ratio NII: Net interest income CDARS: Certificate of Deposit Accounts Registry OAS: Other amortizing security Service of the InterFi Network OCI: Other comprehensive income (loss) CDs: Certificates of deposit OREO: Other real estate owned CDI: Core deposit intangible OTTI: Other-than-temporary impairment CECL: Current Expected Credit Loss PMI: Private mortgage insurance CFSG: Community Financial Services Group, LLC PPP: Paycheck Protection Program CFS Partners: Community Financial Services Partners, RD: USDA Rural Development LLC SBA: U.S. Small Business Administration CMO Collateralized Mortgage Obligation SEC: U.S. Securities and Exchange Commission Company: Community Bancorp. and Subsidiary TDR: Troubled-debt restructuring COVID-19: Coronavirus Disease 2019 USDA: U.S. Department of Agriculture CRE: Commercial Real Estate VA: U.S. Veterans Administration DDA or DDAs: Demand Deposit Account(s) 2018 Economic Growth, Regulatory Relief and DTC: Depository Trust Company Regulatory Consumer Protection Act of 2018 DRIP: Dividend Reinvestment Plan Relief Act: Exchange Act: Securities Exchange Act of 1934

Recent Accounting Developments

Recent Accounting Developments	3 Months Ended
	Mar. 31, 2022
Basis of Presentation and Consolidation and Certain Definitions
Note 2. Recent Accounting Developments	Note 2. Recent Accounting Developments In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, In March and April, 2020, federal banking regulators issued interagency guidance on accounting for loan modifications in light of the economic impact of the COVID-19 pandemic. The guidance interprets current accounting standards and indicates that a lender can conclude that a borrower is not experiencing financial difficulty if short-term (that is, six months or less) modifications are made in response to COVID-19, such as payment deferrals, fee waivers, extensions of repayment terms, or other delays in payment that are insignificant, provided that the loan is less than 30 days past due at the time a modification program is implemented. The banking agencies confirmed with the staff of the FASB that short-term modifications made on a good faith basis in response to COVID-19 to borrowers who were current prior to any relief are not TDRs under ASC No. 310-40, Receivables – Troubled Debt Restructurings by Creditors

Earnings per Common Share

Earnings per Common Share	3 Months Ended
	Mar. 31, 2022
Earnings per Common Share
Note 3. Earnings Per Common Share	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 March 31, 2022 2021 Net income, as reported $ 2,405,542 $ 3,025,701 Less: dividends to preferred shareholders 12,188 12,188 Net income available to common shareholders $ 2,393,354 $ 3,013,513 Weighted average number of common shares used in calculating earnings per share 5,382,678 5,322,404 Earnings per common share $ 0.44 $ 0.57

Investment Securities

Investment Securities	3 Months Ended
	Mar. 31, 2022
Investment Securities
Note 4. Investment Securities	Note 4. Investment Securities Debt securities AFS as of the balance sheet dates consisted of the following: Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value March 31, 2022 U.S. GSE debt securities $ 12,001,306 $ 0 $ 764,922 $ 11,236,384 U.S. Government securities 39,497,938 0 1,868,539 37,629,399 Taxable Municipal securities 300,000 0 26,323 273,677 Tax-Exempt Municipal securities 4,644,229 0 336,281 4,307,948 Agency MBS 132,398,698 23,491 9,482,071 122,940,118 ABS and OAS 1,847,185 4,332 22,855 1,828,662 CMO 1,422,549 0 115,921 1,306,628 Other investments 6,190,000 68,665 25,915 6,232,750 Total $ 198,301,905 $ 96,488 $ 12,642,827 $ 185,755,566 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value December 31, 2021 U.S. GSE debt securities $ 12,001,978 $ 36,024 $ 209,504 $ 11,828,498 U.S. Government securities 32,374,935 0 333,894 32,041,041 Taxable Municipal securities 300,000 0 1,267 298,733 Tax-Exempt Municipal securities 830,279 1,167 67 831,379 Agency MBS 128,291,487 184,002 1,342,968 127,132,521 ABS and OAS 2,131,610 82,414 0 2,214,024 CMO 1,451,349 0 30,891 1,420,458 Other investments 6,438,000 142,199 4,394 6,575,805 Total $ 183,819,638 $ 445,806 $ 1,922,985 $ 182,342,459 Investments pledged as collateral for repurchase agreements consisted of U.S. GSE debt securities, Agency MBS, ABS and OAS, and CMO. These repurchase agreements mature daily. These pledged investments as of the balance sheet dates were as follows: Amortized Fair Cost Value March 31, 2022 $ 60,664,506 $ 56,148,099 December 31, 2021 63,045,599 62,256,702 There were no sales of debt securities for the first three months of 2022 or 2021. The scheduled maturities of debt securities as of the balance sheet dates were as follows: Amortized Fair Cost Value March 31, 2022 Due in one year or less $ 3,718,000 $ 3,739,035 Due from one to five years 45,449,014 43,386,569 Due from five to ten years 10,790,658 10,173,219 Due after ten years 5,945,535 5,516,625 Agency MBS 132,398,698 122,940,118 Total $ 198,301,905 $ 185,755,566 December 31, 2021 Due in one year or less $ 3,470,000 $ 3,508,582 Due from one to five years 36,860,731 36,619,130 Due from five to ten years 13,065,163 12,942,726 Due after ten years 2,132,257 2,139,500 Agency MBS 128,291,487 127,132,521 Total $ 183,819,638 $ 182,342,459 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 Totals Fair Unrealized Fair Unrealized Number of Fair Unrealized Value Loss Value Loss Securities Value Loss March 31, 2022 U.S. GSE debt securities $ 6,718,245 $ 283,061 $ 4,518,139 $ 481,861 11 $ 11,236,384 $ 764,922 U.S. Government securities 37,629,399 1,868,539 0 0 52 37,629,399 1,868,539 Taxable Municipal securities 273,677 26,323 0 0 1 273,677 26,323 Tax-Exempt Municipal securities 4,307,948 336,281 0 0 9 4,307,948 336,281 Agency MBS 91,645,963 6,483,880 29,071,931 2,998,191 106 120,717,894 9,482,071 ABS and OAS 1,277,498 22,855 0 0 2 1,277,498 22,855 CMO 449,231 29,845 857,397 86,076 3 1,306,628 115,921 Other investments 470,085 25,915 0 0 2 470,085 25,915 Total $ 142,772,046 $ 9,076,699 $ 34,447,467 $ 3,566,128 186 $ 177,219,513 $ 12,642,827 Less than 12 months 12 months or more Totals Fair Unrealized Fair Unrealized Number of Fair Unrealized Value Loss Value Loss Securities Value Loss December 31, 2021 U.S. GSE debt securities $ 5,869,117 $ 130,883 $ 1,921,379 $ 78,621 7 $ 7,790,496 $ 209,504 U.S. Government securities 32,041,041 333,894 0 0 46 32,041,041 333,894 Taxable Municipal securities 298,733 1,267 0 0 1 298,733 1,267 Tax-Exempt Municipal securities 330,212 67 0 0 1 330,212 67 Agency MBS 107,061,452 1,128,587 8,809,493 214,381 84 115,870,945 1,342,968 CMO 1,420,458 30,891 0 0 3 1,420,458 30,891 Other investments 491,606 4,394 0 0 2 491,606 4,394 Total $ 147,512,619 $ 1,629,983 $ 10,730,872 $ 293,002 144 $ 158,243,491 $ 1,922,985 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 debt 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 March 31, 2022 and December 31, 2021, 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.

Loans Allowance for Loan Losses

Loans Allowance for Loan Losses and Credit Quality	3 Months Ended
	Mar. 31, 2022
Loans Allowance for Loan Losses and Credit Quality
Note 5. Loans, Allowance For Loan Losses And Credit Quality	Note 5. Loans, Allowance for Loan Losses and Credit Quality The composition of net loans as of the balance sheet dates was as follows: March 31, December 31, 2022 2021 Commercial & industrial $ 121,473,157 $ 120,933,470 Commercial real estate 308,311,734 300,958,931 Municipal 48,660,440 47,955,231 Residential real estate - 1st lien 181,610,294 181,316,345 Residential real estate - Jr lien 33,066,989 34,359,864 Consumer 3,170,568 4,464,692 Total loans 696,293,182 689,988,533 ALL (7,890,648 ) (7,710,256 ) Deferred net loan cost (fees) 274,346 (37,972 ) Net loans $ 688,676,880 $ 682,240,305 The following is an age analysis of past due loans (including non-accrual) as of the balance sheet dates, by portfolio segment: 90 Days Total Non-Accrual 90 Days or More and March 31, 2022 30-89 Days or More Past Due Current Total Loans Loans Accruing Commercial & industrial $ 233,764 $ 141,700 $ 375,464 $ 121,097,693 $ 121,473,157 $ 222,236 $ 0 Commercial real estate 1,546,310 1,640,382 3,186,692 305,125,042 308,311,734 3,708,593 0 Municipal 0 0 0 48,660,440 48,660,440 0 0 Residential real estate - 1st lien 1,221,885 611,883 1,833,768 179,776,526 181,610,294 1,343,723 561,440 - Jr lien 82,115 93,374 175,489 32,891,500 33,066,989 140,411 93,374 Consumer 4,028 0 4,028 3,166,540 3,170,568 0 0 Totals $ 3,088,102 $ 2,487,339 $ 5,575,441 $ 690,717,741 $ 696,293,182 $ 5,414,963 $ 654,814 90 Days Total Non-Accrual 90 Days or More and December 31, 2021 30-89 Days or More Past Due Current Total Loans Loans Accruing Commercial & industrial $ 833,875 $ 0 $ 833,875 $ 120,099,595 $ 120,933,470 $ 98,661 $ 0 Commercial real estate 49,450 2,400,514 2,449,964 298,508,967 300,958,931 4,517,839 0 Municipal 0 0 0 47,955,231 47,955,231 0 0 Residential real estate - 1st lien 1,190,300 608,775 1,799,075 179,517,270 181,316,345 1,180,563 506,827 - Jr lien 51,837 86,476 138,313 34,221,551 34,359,864 143,566 86,476 Consumer 9,741 0 9,741 4,454,951 4,464,692 0 0 Totals $ 2,135,203 $ 3,095,765 $ 5,230,968 $ 684,757,565 $ 689,988,533 $ 5,940,629 $ 593,303 For all loan segments, loans over 30 days past due are considered delinquent. As of the balance sheet dates presented, loans in process of foreclosure consisted of the following residential mortgage loans: Number of loans Balance March 31, 2022 4 $ 153,054 December 31, 2021 5 195,082 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 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 using appropriate 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. Due primarily to the effects of COVID-19, during 2020 the Company shortened its look back period to one year, however, during the first quarter of 2022, the look back period was lengthened to two 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 - 1 st Residential Real Estate – Jr Lien – Consumer – Specific component The specific component of the ALL relates to loans that are impaired. Impaired loans are loans 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. As described above in Note 2, under March 2020 guidance from the federal banking agencies and concurrence by the FASB, certain short-term loan accommodations made in good faith prior to January 1, 2022 for borrowers experiencing financial difficulties due to the COVID-19 health emergency are not considered TDRs. 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 March 31, 2022 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate Municipal 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 939,047 $ 4,151,760 $ 76,728 $ 1,765,892 $ 182,014 $ 55,698 $ 539,117 $ 7,710,256 Charge-offs (17,650 ) (667,474 ) 0 0 0 (8,764 ) 0 (693,888 ) Recoveries 0 0 0 2,276 1,210 8,294 0 11,780 Provision (credit) 117,903 1,159,995 10,861 46,289 (4,671 ) (19,036 ) (448,841 ) 862,500 ALL ending balance $ 1,039,300 $ 4,644,281 $ 87,589 $ 1,814,457 $ 178,553 $ 36,192 $ 90,276 $ 7,890,648 ALL evaluated for impairment Individually $ 0 $ 0 $ 0 $ 115,614 $ 0 $ 0 $ 0 $ 115,614 Collectively 1,039,300 4,644,281 87,589 1,698,843 178,553 36,192 90,276 7,775,034 Total $ 1,039,300 $ 4,644,281 $ 87,589 $ 1,814,457 $ 178,553 $ 36,192 $ 90,276 $ 7,890,648 Loans evaluated for impairment Individually $ 222,236 $ 3,713,169 $ 0 $ 3,910,848 $ 85,691 $ 0 $ 7,931,944 Collectively 121,250,921 304,598,565 48,660,440 177,699,446 32,981,298 3,170,568 688,361,238 Total $ 121,473,157 $ 308,311,734 $ 48,660,440 $ 181,610,294 $ 33,066,989 $ 3,170,568 $ 696,293,182 As of or for the year ended December 31, 2021 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate Municipal 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 842,547 $ 3,854,153 $ 82,211 $ 1,735,304 $ 234,896 $ 60,461 $ 398,913 $ 7,208,485 Charge-offs (18,847 ) (22,000 ) 0 (98,704 ) 0 (87,651 ) 0 (227,202 ) Recoveries 4,761 27,160 0 7,636 10,821 54,430 0 104,808 Provision (credit) 110,586 292,447 (5,483 ) 121,656 (63,703 ) 28,458 140,204 624,165 ALL ending balance $ 939,047 $ 4,151,760 $ 76,728 $ 1,765,892 $ 182,014 $ 55,698 $ 539,117 $ 7,710,256 ALL evaluated for impairment Individually $ 0 $ 0 $ 0 $ 79,978 $ 0 $ 0 $ 0 $ 79,978 Collectively 939,047 4,151,760 76,728 1,685,914 182,014 55,698 539,117 7,630,278 Total $ 939,047 $ 4,151,760 $ 76,728 $ 1,765,892 $ 182,014 $ 55,698 $ 539,117 $ 7,710,256 Loans evaluated for impairment Individually $ 93,362 $ 4,553,734 $ 0 $ 3,720,503 $ 88,563 $ 0 $ 8,456,162 Collectively 120,840,108 296,405,197 47,955,231 177,595,842 34,271,301 4,464,692 681,532,371 Total $ 120,933,470 $ 300,958,931 $ 47,955,231 $ 181,316,345 $ 34,359,864 $ 4,464,692 $ 689,988,533 As of or for the three months ended March 31, 2021 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate Municipal 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 842,547 $ 3,854,153 $ 82,211 $ 1,735,304 $ 234,896 $ 60,461 $ 398,913 $ 7,208,485 Charge-offs (18,847 ) 0 0 0 0 (14,161 ) 0 (33,008 ) Recoveries 4,761 7,000 0 1,567 528 11,458 0 25,314 Provision (credit) 60,170 (37,468 ) 1,320 (69,277 ) (32,112 ) (18,136 ) 363,000 267,497 ALL ending balance $ 888,631 $ 3,823,685 $ 83,531 $ 1,667,594 $ 203,312 $ 39,622 $ 761,913 $ 7,468,288 ALL evaluated for impairment Individually $ 0 $ 0 $ 0 $ 119,306 $ 255 $ 0 $ 0 $ 119,561 Collectively 888,631 3,823,685 83,531 1,548,288 203,058 39,621 761,913 7,348,727 Total $ 888,631 $ 3,823,685 $ 83,531 $ 1,667,594 $ 203,313 $ 39,621 $ 761,913 $ 7,468,288 Loans evaluated for impairment Individually $ 420,974 $ 1,645,678 $ 0 $ 4,394,274 $ 143,333 $ 0 $ 6,604,259 Collectively 188,022,649 276,837,413 52,207,213 165,415,944 36,735,240 3,666,921 722,885,380 Total $ 188,443,623 $ 278,483,091 $ 52,207,213 $ 169,810,218 $ 36,878,573 $ 3,666,921 $ 729,489,639 Impaired loans, by portfolio segment, were as follows: As of March 31, 2022 Unpaid Average Interest Recorded Principal Related Recorded Income Investment(1) Balance Allowance Investment(1)(2) Recognized(2) Related allowance recorded Residential real estate 1st lien $ 1,113,112 $ 1,129,082 $ 115,614 $ 907,849 $ 14,387 Jr lien 0 0 0 0 51 Total with related allowance 1,113,112 1,129,082 115,614 907,849 14,438 No related allowance recorded Commercial & industrial 222,236 261,011 157,799 204 Commercial real estate 3,713,309 4,861,145 4,133,691 1,670 Residential real estate 1st lien 2,836,069 3,845,577 2,943,358 42,714 Jr lien 85,697 131,069 87,133 37 Total with no related allowance 6,857,311 9,098,802 7,321,981 44,625 Total impaired loans $ 7,970,423 $ 10,227,884 $ 115,614 $ 8,229,830 $ 59,063 (1) Recorded investment in impaired loans as of March 31, 2022 includes accrued interest receivable of $38,479. (2) For the three months ended March 31, 2022. As of December 31, 2021 Unpaid Average Interest Recorded Principal Related Recorded Income Investment(1) Balance Allowance Investment(1)(2) Recognized(2) Related allowance recorded Residential real estate 1st lien $ 702,586 $ 716,118 $ 79,978 $ 858,124 $ 60,769 Jr lien 0 0 0 3,452 243 Total with related allowance 702,586 716,118 79,978 861,576 61,012 No related allowance recorded Commercial & industrial 93,362 115,414 290,181 204 Commercial real estate 4,554,074 5,108,557 2,747,193 120,996 Residential real estate 1st lien 3,050,647 4,076,352 3,331,971 205,514 Jr lien 88,570 132,802 124,803 186 Total with no related allowance 7,786,653 9,433,125 6,494,148 326,900 Total impaired loans $ 8,489,239 $ 10,149,243 $ 79,978 $ 7,355,724 $ 387,912 (1) Recorded investment in impaired loans as of December 31, 2021 includes accrued interest receivable and deferred net loan costs of $33,077. (2) For the year ended December 31, 2021. As of March 31, 2021 Unpaid Average Interest Recorded Principal Related Recorded Income Investment(1) Balance Allowance Investment(1)(2) Recognized(2) Related allowance recorded Residential real estate 1st lien $ 1,159,129 $ 1,196,306 $ 119,306 $ 1,029,855 $ 18,650 Jr lien 4,466 4,463 255 4,622 117 Total with related allowance 1,163,595 1,200,769 119,561 1,034,477 18,767 No related allowance recorded Commercial & industrial 420,975 485,396 417,620 204 Commercial real estate 1,645,921 2,103,732 1,794,967 2,044 Residential real estate 1st lien 3,269,662 4,132,986 3,529,314 46,958 Jr lien 138,870 180,547 134,574 0 Total with no related allowance 5,475,428 6,902,661 5,876,475 49,206 Total impaired loans $ 6,639,023 $ 8,103,430 $ 119,561 $ 6,910,952 $ 67,973 (1) Recorded investment in impaired loans as of March 31, 2021 includes accrued interest receivable and deferred net loan costs of $34,764. (2) For the three months ended March 31, 2021. 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 a satisfactory payment performance of six or more months has occurred. 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 Senior 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 March 31, 2022 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate Municipal 1st Lien Jr Lien Consumer Total Group A $ 118,322,106 $ 299,401,050 $ 48,660,440 $ 177,592,027 $ 32,631,970 $ 3,170,568 $ 679,778,161 Group B 579,664 2,422,197 0 0 0 0 3,001,861 Group C 2,571,387 6,488,487 0 4,018,267 435,019 0 13,513,160 Total $ 121,473,157 $ 308,311,734 $ 48,660,440 $ 181,610,294 $ 33,066,989 $ 3,170,568 $ 696,293,182 As of December 31, 2021 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate Municipal 1st Lien Jr Lien Consumer Total Group A $ 117,607,773 $ 285,732,365 $ 47,955,231 $ 177,456,149 $ 34,166,076 $ 4,464,692 $ 667,382,286 Group B 693,084 6,550,335 0 0 0 0 7,243,419 Group C 2,632,613 8,676,231 0 3,860,196 193,788 0 15,362,828 Total $ 120,933,470 $ 300,958,931 $ 47,955,231 $ 181,316,345 $ 34,359,864 $ 4,464,692 $ 689,988,533 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; · Performed a refinancing and deferred or forgiven principal on the original loan; · Capitalized protective advance to pay delinquent real estate taxes; or · Capitalized delinquent accrued interest. 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. The Company has adopted the TDR guidance issued by the federal banking agencies in March and April 2020 regarding the treatment of certain short-term loan modifications relating to the COVID-19 pandemic (See Note 2). Under this guidance, qualifying concessions and modifications are not considered TDRs. In total, throughout the pandemic, the Company granted short term loan concessions and/or modifications within the terms of this guidance to 595 borrowers. Of those loans, 351 remained on the books with an aggregate principal balance of $103.2 million as of March 31, 2022. New TDRs, by portfolio segment, during the periods presented were as follows: Three months ended March 31, 2022 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment Residential real estate - 1st lien 1 $ 292,592 $ 292,592 Year ended December 31, 2021 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment Commercial & industrial 1 $ 41,751 $ 41,751 Commercial real estate 2 3,153,402 3,153,402 Residential real estate – 1st lien 1 67,007 67,007 4 $ 3,262,160 $ 3,262,160 Three months ended March 31, 2021 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment Commercial & industrial 1 $ 41,751 $ 41,751 The TDRs for which there was a payment default during the twelve month periods presented below were as follows: For the twelve months ended March 31, 2022 Number of Recorded Contracts Investment Commercial real estate 2 $ 2,422,965 For the twelve months ended December 31, 2021 Number of Recorded Contracts Investment Commercial & industrial 1 $ 38,001 Commercial real estate 2 3,081,810 3 $ 3,119,811 22 Table of Contents For the twelve months ended March 31, 2021 Number of Recorded Contracts Investment Commercial & industrial 1 $ 41,001 Residential real estate - 1st lien 1 162,821 2 $ 203,822 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 within the ALL related to TDRs as of the balance sheet dates are presented in the table below. March 31, December 31, 2022 2021 Specific Allocation $ 115,614 $ 79,978 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.

Goodwill And Other Intangible A

Goodwill And Other Intangible Assets	3 Months Ended
	Mar. 31, 2022
Goodwill And Other Intangible Assets
Note 6. Goodwill And Other Intangible Assets	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. As of December 31, 2021, the most recent evaluation, management concluded that no impairment existed. Management evaluates its goodwill intangible for impairment at least annually, or more frequently as circumstances warrant, including, as applicable, circumstances arising out of the COVID-19 pandemic, including the disruptions to the economy and increased volatility in the financial markets and related impacts on the Company’s business.

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2022
Fair Value
Note 7. Fair Value	Note 7. 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 and 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, collateral-dependent 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: 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 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 either 2022 or 2021. March 31, December 31, Assets: (market approach) 2022 2021 Level 1 U.S. Government securities $ 37,629,399 $ 32,041,041 Level 2 U.S. GSE debt securities $ 11,236,384 $ 11,828,498 Taxable Municipal securities 273,677 298,733 Tax-Exempt Municipal securities 4,307,948 831,379 Agency MBS 122,940,118 127,132,521 ABS and OAS 1,828,662 2,214,024 CMO 1,306,628 1,420,458 Other investments 6,232,750 6,575,805 Level 2 Total $ 148,126,167 $ 150,301,418 Grand Total $ 185,755,566 $ 182,342,459 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 impaired loans with a partial write-down or with a related specific ALL and are presented net of the 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 either 2022 or 2021. March 31, December 31, Level 2 2022 2021 Assets: (market approach) Impaired loans, net of related allowance $ 1,792,892 $ 177,523 Loans held-for-sale 246,000 339,000 MSRs (1) 900,094 897,720 (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 as of the balance sheet dates were as follows: March 31, 2022 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 $ 84,453 $ 84,453 $ 0 $ 0 $ 84,453 Debt securities AFS 185,756 37,630 148,126 0 185,756 Restricted equity securities 1,391 0 1,391 0 1,391 Loans and loans held-for-sale, net of ALL Commercial & industrial 120,196 0 96 120,247 120,343 Commercial real estate 303,589 0 1,571 303,512 305,083 Municipal 48,566 0 0 48,136 48,136 Residential real estate - 1st lien 180,554 0 126 176,286 176,412 Residential real estate - Jr lien 32,884 0 0 32,865 32,865 Consumer 3,134 0 0 3,175 3,175 MSRs (1) 900 0 995 0 995 Accrued interest receivable 2,719 0 2,719 0 2,719 Financial liabilities: Deposits Other deposits 877,051 0 875,756 0 875,756 Brokered deposits 249 0 235 0 235 Long-term borrowings 1,300 0 1,112 0 1,112 Repurchase agreements 28,744 0 28,744 0 28,744 Operating lease obligations 812 0 812 0 812 Finance lease obligations 3,805 0 3,805 0 3,805 Subordinated debentures 12,887 0 12,826 0 12,826 Accrued interest payable 58 0 58 0 58 (1) Reported fair value represents all MSRs for loans serviced by the Company, regardless of carrying amount. December 31, 2021 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 $ 110,359 $ 110,359 $ 0 $ 0 $ 110,359 Debt securities AFS 182,342 32,041 150,301 0 182,342 Restricted equity securities 1,434 0 1,434 0 1,434 Loans and loans held-for-sale, net of ALL Commercial & industrial 119,382 0 0 120,146 120,146 Commercial real estate 296,528 0 29 297,339 297,368 Municipal 47,841 0 0 49,419 49,419 Residential real estate - 1st lien 180,271 0 149 180,302 180,451 Residential real estate - Jr lien 34,151 0 0 34,189 34,189 Consumer 4,406 0 0 4,436 4,436 MSRs (1) 898 0 995 0 995 Accrued interest receivable 2,401 0 2,401 0 2,401 Financial liabilities: Deposits Other deposits 879,151 0 879,545 0 879,545 Brokered deposits 249 0 246 0 246 Long-term borrowings 1,300 0 1,179 0 1,179 Repurchase agreements 32,610 0 32,610 0 32,610 Operating lease obligations 864 0 864 0 864 Finance lease obligations 3,858 0 3,858 0 3,858 Subordinated debentures 12,887 0 12,868 0 12,868 Accrued interest payable 59 0 59 0 59 (1) Reported fair value represents all MSRs for loans serviced by the Company, regardless of carrying amount.

Loan Servicing

Loan Servicing	3 Months Ended
	Mar. 31, 2022
Loan Servicing
Note 8. Loan Servicing	Note 8. 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: Three Months Ended Year Ended March 31, 2022 December 31, 2021 Balance at beginning of year $ 897,720 $ 922,146 MSRs capitalized 45,304 147,328 MSRs amortized (42,930 ) (225,404 ) Change in valuation allowance 0 53,650 Balance at end of period $ 900,094 $ 897,720

Legal Proceedings

Legal Proceedings	3 Months Ended
	Mar. 31, 2022
Legal Proceedings
Note 9. Legal Proceedings	Note 9. 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.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2022
Subsequent Events
Note 10. Subsequent Events	Note 10. Subsequent Events 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 March 16, 2022, the Company’s Board declared a cash dividend of $0.23 per common share, payable May 1, 2022 to shareholders of record as of April 15, 2022. This dividend has been recorded in the Company’s consolidated financial statements as of the declaration date, including shares issuable under the DRIP.

Earnings per Common Share (Tabl

Earnings per Common Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings per Common Share
Schedule Of Earnings Per Common Share	Three Months Ended March 31, 2022 2021 Net income, as reported $ 2,405,542 $ 3,025,701 Less: dividends to preferred shareholders 12,188 12,188 Net income available to common shareholders $ 2,393,354 $ 3,013,513 Weighted average number of common shares used in calculating earnings per share 5,382,678 5,322,404 Earnings per common share $ 0.44 $ 0.57

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2022
Investment Securities
Schedule Of Available For Debt Securities	Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value March 31, 2022 U.S. GSE debt securities $ 12,001,306 $ 0 $ 764,922 $ 11,236,384 U.S. Government securities 39,497,938 0 1,868,539 37,629,399 Taxable Municipal securities 300,000 0 26,323 273,677 Tax-Exempt Municipal securities 4,644,229 0 336,281 4,307,948 Agency MBS 132,398,698 23,491 9,482,071 122,940,118 ABS and OAS 1,847,185 4,332 22,855 1,828,662 CMO 1,422,549 0 115,921 1,306,628 Other investments 6,190,000 68,665 25,915 6,232,750 Total $ 198,301,905 $ 96,488 $ 12,642,827 $ 185,755,566 Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value December 31, 2021 U.S. GSE debt securities $ 12,001,978 $ 36,024 $ 209,504 $ 11,828,498 U.S. Government securities 32,374,935 0 333,894 32,041,041 Taxable Municipal securities 300,000 0 1,267 298,733 Tax-Exempt Municipal securities 830,279 1,167 67 831,379 Agency MBS 128,291,487 184,002 1,342,968 127,132,521 ABS and OAS 2,131,610 82,414 0 2,214,024 CMO 1,451,349 0 30,891 1,420,458 Other investments 6,438,000 142,199 4,394 6,575,805 Total $ 183,819,638 $ 445,806 $ 1,922,985 $ 182,342,459
Schedule Of Investments Pledged For Collateral	Amortized Fair Cost Value March 31, 2022 $ 60,664,506 $ 56,148,099 December 31, 2021 63,045,599 62,256,702
Schedule Of Maturities Of Debt Securities Available For Sale	Amortized Fair Cost Value March 31, 2022 Due in one year or less $ 3,718,000 $ 3,739,035 Due from one to five years 45,449,014 43,386,569 Due from five to ten years 10,790,658 10,173,219 Due after ten years 5,945,535 5,516,625 Agency MBS 132,398,698 122,940,118 Total $ 198,301,905 $ 185,755,566 December 31, 2021 Due in one year or less $ 3,470,000 $ 3,508,582 Due from one to five years 36,860,731 36,619,130 Due from five to ten years 13,065,163 12,942,726 Due after ten years 2,132,257 2,139,500 Agency MBS 128,291,487 127,132,521 Total $ 183,819,638 $ 182,342,459
Schedule Of Unrealized Loss	Less than 12 months 12 months or more Totals Fair Unrealized Fair Unrealized Number of Fair Unrealized Value Loss Value Loss Securities Value Loss March 31, 2022 U.S. GSE debt securities $ 6,718,245 $ 283,061 $ 4,518,139 $ 481,861 11 $ 11,236,384 $ 764,922 U.S. Government securities 37,629,399 1,868,539 0 0 52 37,629,399 1,868,539 Taxable Municipal securities 273,677 26,323 0 0 1 273,677 26,323 Tax-Exempt Municipal securities 4,307,948 336,281 0 0 9 4,307,948 336,281 Agency MBS 91,645,963 6,483,880 29,071,931 2,998,191 106 120,717,894 9,482,071 ABS and OAS 1,277,498 22,855 0 0 2 1,277,498 22,855 CMO 449,231 29,845 857,397 86,076 3 1,306,628 115,921 Other investments 470,085 25,915 0 0 2 470,085 25,915 Total $ 142,772,046 $ 9,076,699 $ 34,447,467 $ 3,566,128 186 $ 177,219,513 $ 12,642,827 Less than 12 months 12 months or more Totals Fair Unrealized Fair Unrealized Number of Fair Unrealized Value Loss Value Loss Securities Value Loss December 31, 2021 U.S. GSE debt securities $ 5,869,117 $ 130,883 $ 1,921,379 $ 78,621 7 $ 7,790,496 $ 209,504 U.S. Government securities 32,041,041 333,894 0 0 46 32,041,041 333,894 Taxable Municipal securities 298,733 1,267 0 0 1 298,733 1,267 Tax-Exempt Municipal securities 330,212 67 0 0 1 330,212 67 Agency MBS 107,061,452 1,128,587 8,809,493 214,381 84 115,870,945 1,342,968 CMO 1,420,458 30,891 0 0 3 1,420,458 30,891 Other investments 491,606 4,394 0 0 2 491,606 4,394 Total $ 147,512,619 $ 1,629,983 $ 10,730,872 $ 293,002 144 $ 158,243,491 $ 1,922,985

Loans Allowance for Loan Loss_2

Loans Allowance for Loan Losses and Credit Quality (Tables)	3 Months Ended
	Mar. 31, 2022
Loans Allowance for Loan Losses and Credit Quality
Schedule Of Composition Of Net Loans	March 31, December 31, 2022 2021 Commercial & industrial $ 121,473,157 $ 120,933,470 Commercial real estate 308,311,734 300,958,931 Municipal 48,660,440 47,955,231 Residential real estate - 1st lien 181,610,294 181,316,345 Residential real estate - Jr lien 33,066,989 34,359,864 Consumer 3,170,568 4,464,692 Total loans 696,293,182 689,988,533 ALL (7,890,648 ) (7,710,256 ) Deferred net loan cost (fees) 274,346 (37,972 ) Net loans $ 688,676,880 $ 682,240,305
Schedule Of Past Due Loans By Segment	90 Days Total Non-Accrual 90 Days or More and March 31, 2022 30-89 Days or More Past Due Current Total Loans Loans Accruing Commercial & industrial $ 233,764 $ 141,700 $ 375,464 $ 121,097,693 $ 121,473,157 $ 222,236 $ 0 Commercial real estate 1,546,310 1,640,382 3,186,692 305,125,042 308,311,734 3,708,593 0 Municipal 0 0 0 48,660,440 48,660,440 0 0 Residential real estate - 1st lien 1,221,885 611,883 1,833,768 179,776,526 181,610,294 1,343,723 561,440 - Jr lien 82,115 93,374 175,489 32,891,500 33,066,989 140,411 93,374 Consumer 4,028 0 4,028 3,166,540 3,170,568 0 0 Totals $ 3,088,102 $ 2,487,339 $ 5,575,441 $ 690,717,741 $ 696,293,182 $ 5,414,963 $ 654,814 90 Days Total Non-Accrual 90 Days or More and December 31, 2021 30-89 Days or More Past Due Current Total Loans Loans Accruing Commercial & industrial $ 833,875 $ 0 $ 833,875 $ 120,099,595 $ 120,933,470 $ 98,661 $ 0 Commercial real estate 49,450 2,400,514 2,449,964 298,508,967 300,958,931 4,517,839 0 Municipal 0 0 0 47,955,231 47,955,231 0 0 Residential real estate - 1st lien 1,190,300 608,775 1,799,075 179,517,270 181,316,345 1,180,563 506,827 - Jr lien 51,837 86,476 138,313 34,221,551 34,359,864 143,566 86,476 Consumer 9,741 0 9,741 4,454,951 4,464,692 0 0 Totals $ 2,135,203 $ 3,095,765 $ 5,230,968 $ 684,757,565 $ 689,988,533 $ 5,940,629 $ 593,303
Residential Mortgage Loans In Process Of Foreclosure	Number of loans Balance March 31, 2022 4 $ 153,054 December 31, 2021 5 195,082
Changes In Allowances For Loan Losses	As of or for the three months ended March 31, 2022 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate Municipal 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 939,047 $ 4,151,760 $ 76,728 $ 1,765,892 $ 182,014 $ 55,698 $ 539,117 $ 7,710,256 Charge-offs (17,650 ) (667,474 ) 0 0 0 (8,764 ) 0 (693,888 ) Recoveries 0 0 0 2,276 1,210 8,294 0 11,780 Provision (credit) 117,903 1,159,995 10,861 46,289 (4,671 ) (19,036 ) (448,841 ) 862,500 ALL ending balance $ 1,039,300 $ 4,644,281 $ 87,589 $ 1,814,457 $ 178,553 $ 36,192 $ 90,276 $ 7,890,648 ALL evaluated for impairment Individually $ 0 $ 0 $ 0 $ 115,614 $ 0 $ 0 $ 0 $ 115,614 Collectively 1,039,300 4,644,281 87,589 1,698,843 178,553 36,192 90,276 7,775,034 Total $ 1,039,300 $ 4,644,281 $ 87,589 $ 1,814,457 $ 178,553 $ 36,192 $ 90,276 $ 7,890,648 Loans evaluated for impairment Individually $ 222,236 $ 3,713,169 $ 0 $ 3,910,848 $ 85,691 $ 0 $ 7,931,944 Collectively 121,250,921 304,598,565 48,660,440 177,699,446 32,981,298 3,170,568 688,361,238 Total $ 121,473,157 $ 308,311,734 $ 48,660,440 $ 181,610,294 $ 33,066,989 $ 3,170,568 $ 696,293,182 As of or for the year ended December 31, 2021 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate Municipal 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 842,547 $ 3,854,153 $ 82,211 $ 1,735,304 $ 234,896 $ 60,461 $ 398,913 $ 7,208,485 Charge-offs (18,847 ) (22,000 ) 0 (98,704 ) 0 (87,651 ) 0 (227,202 ) Recoveries 4,761 27,160 0 7,636 10,821 54,430 0 104,808 Provision (credit) 110,586 292,447 (5,483 ) 121,656 (63,703 ) 28,458 140,204 624,165 ALL ending balance $ 939,047 $ 4,151,760 $ 76,728 $ 1,765,892 $ 182,014 $ 55,698 $ 539,117 $ 7,710,256 ALL evaluated for impairment Individually $ 0 $ 0 $ 0 $ 79,978 $ 0 $ 0 $ 0 $ 79,978 Collectively 939,047 4,151,760 76,728 1,685,914 182,014 55,698 539,117 7,630,278 Total $ 939,047 $ 4,151,760 $ 76,728 $ 1,765,892 $ 182,014 $ 55,698 $ 539,117 $ 7,710,256 Loans evaluated for impairment Individually $ 93,362 $ 4,553,734 $ 0 $ 3,720,503 $ 88,563 $ 0 $ 8,456,162 Collectively 120,840,108 296,405,197 47,955,231 177,595,842 34,271,301 4,464,692 681,532,371 Total $ 120,933,470 $ 300,958,931 $ 47,955,231 $ 181,316,345 $ 34,359,864 $ 4,464,692 $ 689,988,533 As of or for the three months ended March 31, 2021 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate Municipal 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 842,547 $ 3,854,153 $ 82,211 $ 1,735,304 $ 234,896 $ 60,461 $ 398,913 $ 7,208,485 Charge-offs (18,847 ) 0 0 0 0 (14,161 ) 0 (33,008 ) Recoveries 4,761 7,000 0 1,567 528 11,458 0 25,314 Provision (credit) 60,170 (37,468 ) 1,320 (69,277 ) (32,112 ) (18,136 ) 363,000 267,497 ALL ending balance $ 888,631 $ 3,823,685 $ 83,531 $ 1,667,594 $ 203,312 $ 39,622 $ 761,913 $ 7,468,288 ALL evaluated for impairment Individually $ 0 $ 0 $ 0 $ 119,306 $ 255 $ 0 $ 0 $ 119,561 Collectively 888,631 3,823,685 83,531 1,548,288 203,058 39,621 761,913 7,348,727 Total $ 888,631 $ 3,823,685 $ 83,531 $ 1,667,594 $ 203,313 $ 39,621 $ 761,913 $ 7,468,288 Loans evaluated for impairment Individually $ 420,974 $ 1,645,678 $ 0 $ 4,394,274 $ 143,333 $ 0 $ 6,604,259 Collectively 188,022,649 276,837,413 52,207,213 165,415,944 36,735,240 3,666,921 722,885,380 Total $ 188,443,623 $ 278,483,091 $ 52,207,213 $ 169,810,218 $ 36,878,573 $ 3,666,921 $ 729,489,639
Impaired Loans By Portfolio Segment	As of March 31, 2022 Unpaid Average Interest Recorded Principal Related Recorded Income Investment(1) Balance Allowance Investment(1)(2) Recognized(2) Related allowance recorded Residential real estate 1st lien $ 1,113,112 $ 1,129,082 $ 115,614 $ 907,849 $ 14,387 Jr lien 0 0 0 0 51 Total with related allowance 1,113,112 1,129,082 115,614 907,849 14,438 No related allowance recorded Commercial & industrial 222,236 261,011 157,799 204 Commercial real estate 3,713,309 4,861,145 4,133,691 1,670 Residential real estate 1st lien 2,836,069 3,845,577 2,943,358 42,714 Jr lien 85,697 131,069 87,133 37 Total with no related allowance 6,857,311 9,098,802 7,321,981 44,625 Total impaired loans $ 7,970,423 $ 10,227,884 $ 115,614 $ 8,229,830 $ 59,063 As of December 31, 2021 Unpaid Average Interest Recorded Principal Related Recorded Income Investment(1) Balance Allowance Investment(1)(2) Recognized(2) Related allowance recorded Residential real estate 1st lien $ 702,586 $ 716,118 $ 79,978 $ 858,124 $ 60,769 Jr lien 0 0 0 3,452 243 Total with related allowance 702,586 716,118 79,978 861,576 61,012 No related allowance recorded Commercial & industrial 93,362 115,414 290,181 204 Commercial real estate 4,554,074 5,108,557 2,747,193 120,996 Residential real estate 1st lien 3,050,647 4,076,352 3,331,971 205,514 Jr lien 88,570 132,802 124,803 186 Total with no related allowance 7,786,653 9,433,125 6,494,148 326,900 Total impaired loans $ 8,489,239 $ 10,149,243 $ 79,978 $ 7,355,724 $ 387,912 As of March 31, 2021 Unpaid Average Interest Recorded Principal Related Recorded Income Investment(1) Balance Allowance Investment(1)(2) Recognized(2) Related allowance recorded Residential real estate 1st lien $ 1,159,129 $ 1,196,306 $ 119,306 $ 1,029,855 $ 18,650 Jr lien 4,466 4,463 255 4,622 117 Total with related allowance 1,163,595 1,200,769 119,561 1,034,477 18,767 No related allowance recorded Commercial & industrial 420,975 485,396 417,620 204 Commercial real estate 1,645,921 2,103,732 1,794,967 2,044 Residential real estate 1st lien 3,269,662 4,132,986 3,529,314 46,958 Jr lien 138,870 180,547 134,574 0 Total with no related allowance 5,475,428 6,902,661 5,876,475 49,206 Total impaired loans $ 6,639,023 $ 8,103,430 $ 119,561 $ 6,910,952 $ 67,973
Risk Ratings Portfolio Segment	Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate Municipal 1st Lien Jr Lien Consumer Total Group A $ 118,322,106 $ 299,401,050 $ 48,660,440 $ 177,592,027 $ 32,631,970 $ 3,170,568 $ 679,778,161 Group B 579,664 2,422,197 0 0 0 0 3,001,861 Group C 2,571,387 6,488,487 0 4,018,267 435,019 0 13,513,160 Total $ 121,473,157 $ 308,311,734 $ 48,660,440 $ 181,610,294 $ 33,066,989 $ 3,170,568 $ 696,293,182 Residential Residential Commercial Commercial Real Estate Real Estate & Industrial Real Estate Municipal 1st Lien Jr Lien Consumer Total Group A $ 117,607,773 $ 285,732,365 $ 47,955,231 $ 177,456,149 $ 34,166,076 $ 4,464,692 $ 667,382,286 Group B 693,084 6,550,335 0 0 0 0 7,243,419 Group C 2,632,613 8,676,231 0 3,860,196 193,788 0 15,362,828 Total $ 120,933,470 $ 300,958,931 $ 47,955,231 $ 181,316,345 $ 34,359,864 $ 4,464,692 $ 689,988,533
Loans Modified As Tdrs By Portfolio Segment	Three months ended March 31, 2022 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment Residential real estate - 1st lien 1 $ 292,592 $ 292,592 Year ended December 31, 2021 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment Commercial & industrial 1 $ 41,751 $ 41,751 Commercial real estate 2 3,153,402 3,153,402 Residential real estate – 1st lien 1 67,007 67,007 4 $ 3,262,160 $ 3,262,160 Three months ended March 31, 2021 Pre- Post- Modification Modification Outstanding Outstanding Number of Recorded Recorded Contracts Investment Investment Commercial & industrial 1 $ 41,751 $ 41,751
Tdrs Payment Default	For the twelve months ended March 31, 2022 Number of Recorded Contracts Investment Commercial real estate 2 $ 2,422,965 For the twelve months ended December 31, 2021 Number of Recorded Contracts Investment Commercial & industrial 1 $ 38,001 Commercial real estate 2 3,081,810 3 $ 3,119,811 Number of Recorded Contracts Investment Commercial & industrial 1 $ 41,001 Residential real estate - 1st lien 1 162,821 2 $ 203,822
Specific Allowances	March 31, December 31, 2022 2021 Specific Allocation $ 115,614 $ 79,978

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value
Schedule Of Fair Value Assets And Liabilities On Recurring Basis	March 31, December 31, Assets: (market approach) 2022 2021 Level 1 U.S. Government securities $ 37,629,399 $ 32,041,041 Level 2 U.S. GSE debt securities $ 11,236,384 $ 11,828,498 Taxable Municipal securities 273,677 298,733 Tax-Exempt Municipal securities 4,307,948 831,379 Agency MBS 122,940,118 127,132,521 ABS and OAS 1,828,662 2,214,024 CMO 1,306,628 1,420,458 Other investments 6,232,750 6,575,805 Level 2 Total $ 148,126,167 $ 150,301,418 Grand Total $ 185,755,566 $ 182,342,459
Schedule Of Fair Value Assets And Liabilities Non-recurring Basis	March 31, December 31, Level 2 2022 2021 Assets: (market approach) Impaired loans, net of related allowance $ 1,792,892 $ 177,523 Loans held-for-sale 246,000 339,000 MSRs (1) 900,094 897,720
Schedule Of Estimated Fair Values Of Financial Instruments	March 31, 2022 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 $ 84,453 $ 84,453 $ 0 $ 0 $ 84,453 Debt securities AFS 185,756 37,630 148,126 0 185,756 Restricted equity securities 1,391 0 1,391 0 1,391 Loans and loans held-for-sale, net of ALL Commercial & industrial 120,196 0 96 120,247 120,343 Commercial real estate 303,589 0 1,571 303,512 305,083 Municipal 48,566 0 0 48,136 48,136 Residential real estate - 1st lien 180,554 0 126 176,286 176,412 Residential real estate - Jr lien 32,884 0 0 32,865 32,865 Consumer 3,134 0 0 3,175 3,175 MSRs (1) 900 0 995 0 995 Accrued interest receivable 2,719 0 2,719 0 2,719 Financial liabilities: Deposits Other deposits 877,051 0 875,756 0 875,756 Brokered deposits 249 0 235 0 235 Long-term borrowings 1,300 0 1,112 0 1,112 Repurchase agreements 28,744 0 28,744 0 28,744 Operating lease obligations 812 0 812 0 812 Finance lease obligations 3,805 0 3,805 0 3,805 Subordinated debentures 12,887 0 12,826 0 12,826 Accrued interest payable 58 0 58 0 58 December 31, 2021 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 $ 110,359 $ 110,359 $ 0 $ 0 $ 110,359 Debt securities AFS 182,342 32,041 150,301 0 182,342 Restricted equity securities 1,434 0 1,434 0 1,434 Loans and loans held-for-sale, net of ALL Commercial & industrial 119,382 0 0 120,146 120,146 Commercial real estate 296,528 0 29 297,339 297,368 Municipal 47,841 0 0 49,419 49,419 Residential real estate - 1st lien 180,271 0 149 180,302 180,451 Residential real estate - Jr lien 34,151 0 0 34,189 34,189 Consumer 4,406 0 0 4,436 4,436 MSRs (1) 898 0 995 0 995 Accrued interest receivable 2,401 0 2,401 0 2,401 Financial liabilities: Deposits Other deposits 879,151 0 879,545 0 879,545 Brokered deposits 249 0 246 0 246 Long-term borrowings 1,300 0 1,179 0 1,179 Repurchase agreements 32,610 0 32,610 0 32,610 Operating lease obligations 864 0 864 0 864 Finance lease obligations 3,858 0 3,858 0 3,858 Subordinated debentures 12,887 0 12,868 0 12,868 Accrued interest payable 59 0 59 0 59

Loan Servicing (Tables)

Loan Servicing (Tables)	3 Months Ended
	Mar. 31, 2022
Loan Servicing (Tables)
Schedule Of Mortgage Servicing Rights	Three Months Ended Year Ended March 31, 2022 December 31, 2021 Balance at beginning of year $ 897,720 $ 922,146 MSRs capitalized 45,304 147,328 MSRs amortized (42,930 ) (225,404 ) Change in valuation allowance 0 53,650 Balance at end of period $ 900,094 $ 897,720

Earnings per Common Share (Deta

Earnings per Common Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings per Common Share
Net Income	$ 2,405,542	$ 3,025,701
Less: Dividends To Preferred Shareholders	12,188	12,188
Net Income Available To Common Shareholders	$ 2,393,354	$ 3,013,513
Weighted Average Number Of Common Shares Used In Calculating Earnings Per Share	5,382,678	5,322,404
Earnings Per Common Share	$ 0.44	$ 0.57

Investment Securities (Details)

Investment Securities (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Amortized Cost	$ 198,301,905	$ 183,819,638
Gross Unrealized Gains	96,488	445,806
Gross Unrealized Losses	12,642,827	1,922,985
Fair Value	185,755,566	182,342,459
ABS and OAS [Member]
Amortized Cost	1,847,185	2,131,610
Gross Unrealized Gains	4,332	82,414
Gross Unrealized Losses	22,855	0
Fair Value	1,828,662	2,214,024
Taxable municipal securities
Amortized Cost	300,000	300,000
Gross Unrealized Gains	0	0
Gross Unrealized Losses	26,323	1,267
Fair Value	273,677	298,733
Tax-exempt municipal securities
Amortized Cost	4,644,229	830,279
Gross Unrealized Gains	0	1,167
Gross Unrealized Losses	336,281	67
Fair Value	4,307,948	831,379
U.S. Government securities [Member]
Amortized Cost	39,497,938	32,374,935
Gross Unrealized Gains	0	0
Gross Unrealized Losses	1,868,539	333,894
Fair Value	37,629,399	32,041,041
U.S. GSE debt securities [Member]
Amortized Cost	12,001,306	12,001,978
Gross Unrealized Gains	0	36,024
Gross Unrealized Losses	764,922	209,504
Fair Value	11,236,384	11,828,498
Other investments [Member]
Amortized Cost	6,190,000	6,438,000
Gross Unrealized Gains	68,665	142,199
Gross Unrealized Losses	25,915	4,394
Fair Value	6,232,750	6,575,805
CMO [Member]
Amortized Cost	1,422,549	1,451,349
Gross Unrealized Gains	0	0
Gross Unrealized Losses	115,921	30,891
Fair Value	1,306,628	1,420,458
Agency mortgage-backed securities (Agency MBS) [Member]
Amortized Cost	132,398,698	128,291,487
Gross Unrealized Gains	23,491	184,002
Gross Unrealized Losses	9,482,071	1,342,968
Fair Value	$ 122,940,118	$ 127,132,521

Investment Securities (Details

Investment Securities (Details 1) - U.S. GSE debt securities, Agency MBS, ABS and OAS, CMO and CDs [Member] - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Amortized Cost	$ 60,664,506	$ 63,045,599
Fair Value	$ 56,148,099	$ 62,256,702

Investment Securities (Detail_2

Investment Securities (Details 2) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Total, Fair Value	$ 185,755,566	$ 182,342,459
Available for sale Securities [Member]
Due In One Year Or Less, Amortized Cost	3,718,000	3,470,000
Due From One To Five Years, Amortized Cost	45,449,014	36,860,731
Due From Five To Ten Years, Amortized Cost	10,790,658	13,065,163
Due After Ten Years, Amortized Cost	5,945,535	2,132,257
Agency Mbs, Amortized Cost	132,398,698	128,291,487
Total, Amortized Cost	198,301,905	183,819,638
Due In One Year Or Less, Fair Value	3,739,035	3,508,582
Due From One To Five Years, Fair Value	43,386,569	36,619,130
Due From Five To Ten Years, Fair Value	10,173,219	12,942,726
Due After Ten Years, Fair Value	5,516,625	2,139,500
Agency Mbs, Fair Value	122,940,118	127,132,521
Total, Fair Value	$ 185,755,566	$ 182,342,459

Investment Securities (Detail_3

Investment Securities (Details 3)	Mar. 31, 2022USD ($)integer	Dec. 31, 2021USD ($)integer
Fair Value Less Than 12 Months	$ 142,772,046	$ 147,512,619
Unrealized Loss Less Than 12 Months	9,076,699	1,629,983
Fair Value 12 Months Or More	34,447,467	10,730,872
Unrealized Loss 12 Months Or More	$ 3,566,128	$ 293,002
Number Of Securities | integer	186	144
Fair Value	$ 177,219,513	$ 158,243,491
Unrealized Loss	12,642,827	1,922,985
Other investments [Member]
Fair Value Less Than 12 Months	470,085	491,606
Unrealized Loss Less Than 12 Months	25,915	4,394
Fair Value 12 Months Or More	0	0
Unrealized Loss 12 Months Or More	$ 0	$ 0
Number Of Securities | integer	2	2
Fair Value	$ 470,085	$ 491,606
Unrealized Loss	25,915	4,394
ABS and OAS [Member]
Fair Value Less Than 12 Months	1,277,498
Unrealized Loss Less Than 12 Months	22,855
Fair Value 12 Months Or More	0
Unrealized Loss 12 Months Or More	$ 0
Number Of Securities | integer	2
Fair Value	$ 1,277,498
Unrealized Loss	22,855
Taxable municipal securities
Fair Value Less Than 12 Months	273,677	298,733
Unrealized Loss Less Than 12 Months	26,323	1,267
Fair Value 12 Months Or More	0	0
Unrealized Loss 12 Months Or More	$ 0	$ 0
Number Of Securities | integer	1	1
Fair Value	$ 273,677	$ 298,733
Unrealized Loss	26,323	1,267
Tax-exempt municipal securities
Fair Value Less Than 12 Months	4,307,948	330,212
Unrealized Loss Less Than 12 Months	336,281	67
Fair Value 12 Months Or More	0	0
Unrealized Loss 12 Months Or More	$ 0	$ 0
Number Of Securities | integer	9	1
Fair Value	$ 4,307,948	$ 330,212
Unrealized Loss	336,281	67
CMO [Member]
Fair Value Less Than 12 Months	449,231	1,420,458
Unrealized Loss Less Than 12 Months	29,845	30,891
Fair Value 12 Months Or More	857,397	0
Unrealized Loss 12 Months Or More	$ 86,076	$ 0
Number Of Securities | integer	3	3
Fair Value	$ 1,306,628	$ 1,420,458
Unrealized Loss	115,921	30,891
Agency mortgage-backed securities (Agency MBS) [Member]
Fair Value Less Than 12 Months	91,645,963	107,061,452
Unrealized Loss Less Than 12 Months	6,483,880	1,128,587
Fair Value 12 Months Or More	29,071,931	8,809,493
Unrealized Loss 12 Months Or More	$ 2,998,191	$ 214,381
Number Of Securities | integer	106	84
Fair Value	$ 120,717,894	$ 115,870,945
Unrealized Loss	9,482,071	1,342,968
U.S. Government securities
Fair Value Less Than 12 Months	37,629,399	32,041,041
Unrealized Loss Less Than 12 Months	1,868,539	333,894
Fair Value 12 Months Or More	0	0
Unrealized Loss 12 Months Or More	$ 0	$ 0
Number Of Securities | integer	52	46
Fair Value	$ 37,629,399	$ 32,041,041
Unrealized Loss	1,868,539	333,894
U.S. GSE debt securities [Member]
Fair Value Less Than 12 Months	6,718,245	5,869,117
Unrealized Loss Less Than 12 Months	283,061	130,883
Fair Value 12 Months Or More	4,518,139	1,921,379
Unrealized Loss 12 Months Or More	$ 481,861	$ 78,621
Number Of Securities | integer	11	7
Fair Value	$ 11,236,384	$ 7,790,496
Unrealized Loss	$ 764,922	$ 209,504

Loans Allowance for Loan Loss_3

Loans Allowance for Loan Losses and Credit Quality (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Loans Allowance for Loan Losses and Credit Quality
Commercial & Industrial	$ 121,473,157	$ 120,933,470
Commercial Real Estate	308,311,734	300,958,931
Municipal	48,660,440	47,955,231
Residential Real Estate - 1st Lien	181,610,294	181,316,345
Residential Real Estate - Jr Lien	33,066,989	34,359,864
Consumer	3,170,568	4,464,692
Total Loans	696,293,182	689,988,533
Deduct (add):
Allowance For Loan Losses	(7,890,648)	(7,710,256)
Deferred Net Loan Cost (fees)	274,346	(37,972)
Net Loans	$ 688,676,880	$ 682,240,305

Loans Allowance for Loan Loss_4

Loans Allowance for Loan Losses and Credit Quality (Details 1) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
30-89 Days	$ 3,088,102	$ 2,135,203
90 Days Or More	2,487,339	3,095,765
Total Past Due	5,575,441	5,230,968
Current	690,717,741	684,757,565
Total Loans	696,293,182	689,988,533
Non-accrual Loans	5,414,963	5,940,629
90 Days Or More And Accruing	654,814	593,303
Commercial Real Estates [Member]
30-89 Days	1,546,310	49,450
90 Days Or More	1,640,382	2,400,514
Total Past Due	3,186,692	2,449,964
Current	305,125,042	298,508,967
Total Loans	308,311,734	300,958,931
Non-accrual Loans	3,708,593	4,517,839
90 Days Or More And Accruing	0	0
Residential real estate - 1st lien [Member]
30-89 Days	1,221,885	1,190,300
90 Days Or More	611,883	608,775
Total Past Due	1,833,768	1,799,075
Current	179,776,526	179,517,270
Total Loans	181,610,294	181,316,345
Non-accrual Loans	1,343,723	1,180,563
90 Days Or More And Accruing	561,440	506,827
Commercial & industrial [Member]
30-89 Days	233,764	833,875
90 Days Or More	141,700	0
Total Past Due	375,464	833,875
Current	121,097,693	120,099,595
Total Loans	121,473,157	120,933,470
Non-accrual Loans	222,236	98,661
90 Days Or More And Accruing	0	0
Municipal [Member]
30-89 Days	0	0
90 Days Or More	0	0
Total Past Due	0	0
Current	48,660,440	47,955,231
Total Loans	48,660,440	47,955,231
Non-accrual Loans	0	0
90 Days Or More And Accruing	0	0
Residential real estate - Jr lien [Member]
30-89 Days	82,115	51,837
90 Days Or More	93,374	86,476
Total Past Due	175,489	138,313
Current	32,891,500	34,221,551
Total Loans	33,066,989	34,359,864
Non-accrual Loans	140,411	143,566
90 Days Or More And Accruing	93,374	86,476
Consumer [Member]
30-89 Days	4,028	9,741
90 Days Or More	0	0
Total Past Due	4,028	9,741
Current	3,166,540	4,454,951
Total Loans	3,170,568	4,464,692
Non-accrual Loans	0	0
90 Days Or More And Accruing	$ 0	$ 0

Loans Allowance for Loan Loss_5

Loans Allowance for Loan Losses and Credit Quality (Details 2)	Mar. 31, 2022USD ($)integer	Dec. 31, 2021USD ($)integer
Loans Allowance for Loan Losses and Credit Quality
Residential Mortgage Loans In Process Of Foreclosure, Number Of Loans | integer	4	5
Residential Mortgage Loans In Process Of Foreclosure, Current Balance | $	$ 153,054	$ 195,082

Loans Allowance for Loan Loss_6

Loans Allowance for Loan Losses and Credit Quality (Details 3) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Allowance For Loan Losses, Beginning Balance	$ 7,710,256	$ 7,208,485	$ 7,208,485
Charge-offs	(693,888)	(33,008)	(227,202)
Recoveries	11,780	25,314	104,808
Provision For Loan Losses	862,500	267,497	624,165
Allowance For Loan Losses, Ending Balance	7,890,648	7,468,288	7,710,256
Allowance For Loan Losses Evaluated For Impairment, Individually	115,614	119,561	79,978
Allowance For Loan Losses Evaluated For Impairment, Collectively	7,775,034	7,348,727	7,630,278
Total All Evaluted For Impairment	7,890,648	7,468,288	7,710,256
Loans Evaluated For Impairment, Individually	7,931,944	6,604,259	8,456,162
Loans Evaluated For Impairment, Collectively	688,361,238	722,885,380	681,532,371
Total, Loans Evaluted For Impairment	696,293,182	729,489,639	689,988,533
Unallocated [Member]
Allowance For Loan Losses, Beginning Balance	539,117	398,913	398,913
Charge-offs	0	0	0
Recoveries	0	0	0
Provision For Loan Losses	(448,841)	363,000	140,204
Allowance For Loan Losses, Ending Balance	90,276	761,913	539,117
Allowance For Loan Losses Evaluated For Impairment, Individually	0	0	0
Allowance For Loan Losses Evaluated For Impairment, Collectively	90,276	761,913	539,117
Total All Evaluted For Impairment	90,276	761,913	539,117
Commercial Real Estates [Member]
Allowance For Loan Losses, Beginning Balance	4,151,760	3,854,153	3,854,153
Charge-offs	(667,474)	0	(22,000)
Recoveries	0	7,000	27,160
Provision For Loan Losses	1,159,995	(37,468)	292,447
Allowance For Loan Losses, Ending Balance	4,644,281	3,823,685	4,151,760
Allowance For Loan Losses Evaluated For Impairment, Individually	0	0	0
Allowance For Loan Losses Evaluated For Impairment, Collectively	4,644,281	3,823,685	4,151,760
Total All Evaluted For Impairment	4,644,281	3,823,685	4,151,760
Loans Evaluated For Impairment, Individually	3,713,169	1,645,678	4,553,734
Loans Evaluated For Impairment, Collectively	304,598,565	276,837,413	296,405,197
Total, Loans Evaluted For Impairment	308,311,734	278,483,091	300,958,931
Residential real estate - 1st lien [Member]
Allowance For Loan Losses, Beginning Balance	1,765,892	1,735,304	1,735,304
Charge-offs	0	0	(98,704)
Recoveries	2,276	1,567	7,636
Provision For Loan Losses	46,289	(69,277)	121,656
Allowance For Loan Losses, Ending Balance	1,814,457	1,667,594	1,765,892
Allowance For Loan Losses Evaluated For Impairment, Individually	115,614	119,306	79,978
Allowance For Loan Losses Evaluated For Impairment, Collectively	1,698,843	1,548,288	1,685,914
Total All Evaluted For Impairment	1,814,457	1,667,594	1,765,892
Loans Evaluated For Impairment, Individually	3,910,848	4,394,274	3,720,503
Loans Evaluated For Impairment, Collectively	177,699,446	165,415,944	177,595,842
Total, Loans Evaluted For Impairment	181,610,294	169,810,218	181,316,345
Commercial & industrial [Member]
Allowance For Loan Losses, Beginning Balance	939,047	842,547	842,547
Charge-offs	(17,650)	(18,847)	(18,847)
Recoveries	0	4,761	4,761
Provision For Loan Losses	117,903	60,170	110,586
Allowance For Loan Losses, Ending Balance	1,039,300	888,631	939,047
Allowance For Loan Losses Evaluated For Impairment, Individually	0	0	0
Allowance For Loan Losses Evaluated For Impairment, Collectively	1,039,300	888,631	939,047
Total All Evaluted For Impairment	1,039,300	888,631	939,047
Loans Evaluated For Impairment, Individually	222,236	420,974	93,362
Loans Evaluated For Impairment, Collectively	121,250,921	188,022,649	120,840,108
Total, Loans Evaluted For Impairment	121,473,157	188,443,623	120,933,470
Municipal [Member]
Allowance For Loan Losses, Beginning Balance	76,728	82,211	82,211
Charge-offs	0	0	0
Recoveries	0	0	0
Provision For Loan Losses	10,861	1,320	(5,483)
Allowance For Loan Losses, Ending Balance	87,589	83,531	76,728
Allowance For Loan Losses Evaluated For Impairment, Individually	0	0	0
Allowance For Loan Losses Evaluated For Impairment, Collectively	87,589	83,531	76,728
Total All Evaluted For Impairment	87,589	83,531	76,728
Loans Evaluated For Impairment, Individually	0	0	0
Loans Evaluated For Impairment, Collectively	48,660,440	52,207,213	47,955,231
Total, Loans Evaluted For Impairment	48,660,440	52,207,213	47,955,231
Residential real estate - Jr lien [Member]
Allowance For Loan Losses, Beginning Balance	182,014	234,896	234,896
Charge-offs	0	0	0
Recoveries	1,210	528	10,821
Provision For Loan Losses	(4,671)	(32,112)	(63,703)
Allowance For Loan Losses, Ending Balance	178,553	203,313	182,014
Allowance For Loan Losses Evaluated For Impairment, Individually	0	255	0
Allowance For Loan Losses Evaluated For Impairment, Collectively	178,553	203,058	182,014
Total All Evaluted For Impairment	178,553	203,312	182,014
Loans Evaluated For Impairment, Individually	85,691	143,333	88,563
Loans Evaluated For Impairment, Collectively	32,981,298	36,735,240	34,271,301
Total, Loans Evaluted For Impairment	33,066,989	36,878,573	34,359,864
Consumer [Member]
Allowance For Loan Losses, Beginning Balance	55,698	60,461	60,461
Charge-offs	(8,764)	(14,161)	(87,651)
Recoveries	8,294	11,458	54,430
Provision For Loan Losses	(19,036)	(18,136)	28,458
Allowance For Loan Losses, Ending Balance	36,192	39,622	55,698
Allowance For Loan Losses Evaluated For Impairment, Individually	0	0	0
Allowance For Loan Losses Evaluated For Impairment, Collectively	36,192	39,621	55,698
Total All Evaluted For Impairment	36,192	39,621	55,698
Loans Evaluated For Impairment, Individually	0	0	0
Loans Evaluated For Impairment, Collectively	3,170,568	3,666,921	4,464,692
Total, Loans Evaluted For Impairment	$ 3,170,568	$ 3,666,921	$ 4,464,692

Loans Allowance for Loan Loss_7

Loans Allowance for Loan Losses and Credit Quality (Details 4) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Recorded Investment Allowance Recorded	$ 7,970,423	$ 6,639,023	$ 8,489,239
Unpaid Principal Balance Allowance Recorded	10,227,884	8,103,430	10,149,243
Related Allowance With An Allowance Recorded	115,614	119,561	79,978
Interest Income Recognized	59,063	67,973	387,912
Average Recorded Investment Allowance Recorded	8,229,830	6,910,952	7,355,724
Total Related Allowance
Related Allowance With An Allowance Recorded	115,614	119,561	79,978
Recorded Investment With An Allowance Recorded	1,113,112	1,163,595	702,586
Unpaid Principal Balance With An Allowance Recorded	1,129,082	1,200,769	716,118
Average Recorded Investment With An Allowance Recorded	907,849	1,034,477	861,576
Interest Income Recognized With An Allowance Recorded	14,438	18,767	61,012
Total No Related Allowance
Recorded Investment With No Related Allowance Recorded	6,857,311	5,475,428	7,786,653
Unpaid Principal Balance With No Related Allowance Recorded	9,098,802	6,902,661	9,433,125
Interest Income Recognized With No Related Allowance Recorded	44,625	5,876,475	326,900
Average Recorded Investment With No Related Allowance Recorded	7,321,981	49,206	6,494,148
Commercial Real Estates [Member]
Related Allowance With An Allowance Recorded			0
Recorded Investment With An Allowance Recorded			0
Unpaid Principal Balance With An Allowance Recorded			0
Recorded Investment With No Related Allowance Recorded	3,713,309	1,645,921	4,554,074
Unpaid Principal Balance With No Related Allowance Recorded	4,861,145	2,103,732	5,108,557
Interest Income Recognized With No Related Allowance Recorded	1,670	2,044	120,996
Average Recorded Investment With No Related Allowance Recorded	4,133,691	1,794,967	2,747,193
Residential real estate - 1st lien [Member]
Related Allowance With An Allowance Recorded	115,614	119,306	79,978
Recorded Investment With An Allowance Recorded	1,113,112	1,159,129	702,586
Unpaid Principal Balance With An Allowance Recorded	1,129,082	1,196,306	716,118
Recorded Investment With No Related Allowance Recorded	2,836,069	3,269,662	3,050,647
Unpaid Principal Balance With No Related Allowance Recorded	3,845,577	4,132,986	4,076,352
Average Recorded Investment With An Allowance Recorded	907,849	1,029,855	858,124
Interest Income Recognized With An Allowance Recorded	14,387	18,650	60,769
Interest Income Recognized With No Related Allowance Recorded	42,714	46,958	205,514
Average Recorded Investment With No Related Allowance Recorded	2,943,358	3,529,314	3,331,971
Residential real estate - Jr lien [Member]
Related Allowance With An Allowance Recorded	0	255	0
Recorded Investment With An Allowance Recorded	0	4,466	0
Unpaid Principal Balance With An Allowance Recorded	0	4,463	0
Recorded Investment With No Related Allowance Recorded	85,697	138,870	88,570
Unpaid Principal Balance With No Related Allowance Recorded	131,069	180,547	132,802
Average Recorded Investment With An Allowance Recorded	0	4,622	3,452
Interest Income Recognized With An Allowance Recorded	51	117	243
Interest Income Recognized With No Related Allowance Recorded	37	0	186
Average Recorded Investment With No Related Allowance Recorded	87,133	134,574	124,803
Commercial Loan [Member]
Related Allowance With An Allowance Recorded			0
Recorded Investment With An Allowance Recorded			0
Unpaid Principal Balance With An Allowance Recorded			0
Recorded Investment With No Related Allowance Recorded	222,236	420,975	93,362
Unpaid Principal Balance With No Related Allowance Recorded	261,011	485,396	115,414
Average Recorded Investment With An Allowance Recorded			0
Interest Income Recognized With An Allowance Recorded			0
Interest Income Recognized With No Related Allowance Recorded	204	204	290,181
Average Recorded Investment With No Related Allowance Recorded	$ 157,799	$ 417,620	$ 204

Loans Allowance for Loan Loss_8

Loans Allowance for Loan Losses and Credit Quality (Details 5) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Group A	$ 679,778,161	$ 667,382,286
Group B	3,001,861	7,243,419
Group C	13,513,160	15,362,828
Total Loans	696,293,182	689,988,533
Commercial Real Estates [Member]
Group A	299,401,050	285,732,365
Group B	2,422,197	6,550,335
Group C	6,488,487	8,676,231
Total Loans	308,311,734	300,958,931
Residential real estate - 1st lien [Member]
Group A	177,592,027	177,456,149
Group B	0	0
Group C	4,018,267	3,860,196
Total Loans	181,610,294	181,316,345
Municipal [Member]
Group A	48,660,440	47,955,231
Group B	0	0
Group C	0	0
Total Loans	48,660,440	47,955,231
Residential real estate - Jr lien [Member]
Group A	32,631,970	34,166,076
Group B	0	0
Group C	435,019	193,788
Total Loans	33,066,989	34,359,864
Consumer [Member]
Group A	3,170,568	4,464,692
Group B	0	0
Group C	0	0
Total Loans	3,170,568	4,464,692
Commercial Loan [Member]
Group A	118,322,106	117,607,773
Group B	579,664	693,084
Group C	2,571,387	2,632,613
Total Loans	$ 121,473,157	$ 120,933,470

Loans Allowance for Loan Loss_9

Loans Allowance for Loan Losses and Credit Quality (Details 6)	3 Months Ended		12 Months Ended
	Mar. 31, 2022USD ($)integer	Mar. 31, 2021USD ($)integer	Dec. 31, 2021USD ($)integer
Number Of Contracts Modified As Tdrs | integer			4
Pre-modification Outstanding Recorded Investment			$ 3,262,160
Post-modification Outstanding Recorded Investment			$ 3,262,160
Commercial Loan [Member]
Number Of Contracts Modified As Tdrs | integer		1	1
Pre-modification Outstanding Recorded Investment		$ 41,751	$ 41,751
Post-modification Outstanding Recorded Investment		$ 41,751	$ 41,751
Commercial Real Estates [Member]
Number Of Contracts Modified As Tdrs | integer			2
Pre-modification Outstanding Recorded Investment			$ 3,153,402
Post-modification Outstanding Recorded Investment			$ 3,153,402
Residential real estate - 1st lien [Member]
Number Of Contracts Modified As Tdrs | integer	1		1
Pre-modification Outstanding Recorded Investment	$ 292,592		$ 67,007
Post-modification Outstanding Recorded Investment	$ 292,592		$ 67,007

Loans Allowance for Loan Los_10

Loans Allowance for Loan Losses and Credit Quality (Details 7)	3 Months Ended		12 Months Ended
	Mar. 31, 2022USD ($)integer	Mar. 31, 2021USD ($)integer	Dec. 31, 2021USD ($)integer
Number Of Contracts | integer		2	3
Recorded Investment | $		$ 203,822	$ 3,119,811
Residential real estate - 1st lien [Member]
Number Of Contracts | integer		1
Recorded Investment | $		$ 162,821
Commercial Real Estate [Member]
Number Of Contracts | integer	2		2
Recorded Investment | $	$ 2,422,965		$ 3,081,810
Commercial & industrial [Member]
Number Of Contracts | integer		1	1
Recorded Investment | $		$ 41,001	$ 38,001

Loans Allowance for Loan Los_11

Loans Allowance for Loan Losses and Credit Quality (Details 8) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Loans Allowance for Loan Losses and Credit Quality
Specific Allocation	$ 115,614	$ 79,978

Loans Allowance for Loan Los_12

Loans Allowance for Loan Losses and Credit Quality (Details Narrative) - USD ($)	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Loans Allowance for Loan Losses and Credit Quality
Accrued Interest Receivable And Deferred Net Loan Costs	$ 38,479	$ 33,077	$ 34,764

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Details Narrative) - USD ($)	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2007
Goodwill	$ 11,574,269	$ 11,574,269
LyndonBank [Member]
Goodwill			$ 11,574,269

Fair Value (Details)

Fair Value (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Assets Recorded At Fair Value On A Recurring Basis	$ 185,755,566	$ 182,342,459
Fair Value Level 1 | U.S. Government securities
Assets Recorded At Fair Value On A Recurring Basis	37,629,399	32,041,041
Fair Value Level 2
Assets Recorded At Fair Value On A Recurring Basis	148,126,167	150,301,418
Fair Value Level 2 | Other investments [Member]
Assets Recorded At Fair Value On A Recurring Basis	6,232,750	6,575,805
Fair Value Level 2 | Taxable municipal securities
Assets Recorded At Fair Value On A Recurring Basis	273,677	298,733
Fair Value Level 2 | Tax-exempt municipal securities
Assets Recorded At Fair Value On A Recurring Basis	4,307,948	831,379
Fair Value Level 2 | U.S. GSE debt securities
Assets Recorded At Fair Value On A Recurring Basis	11,236,384	11,828,498
Fair Value Level 2 | Agency MBS
Assets Recorded At Fair Value On A Recurring Basis	122,940,118	127,132,521
Fair Value Level 2 | ABS and OAS
Assets Recorded At Fair Value On A Recurring Basis	1,828,662	2,214,024
Fair Value Level 2 | CMO [Member]
Assets Recorded At Fair Value On A Recurring Basis	$ 1,306,628	$ 1,420,458

Fair Value (Details 1)

Fair Value (Details 1) - Fair Value Level 2 - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Impaired Loans, Net Of Related Allowance	$ 1,792,892	$ 177,523
Loans Held-for-sale	246,000	339,000
Msrs	$ 900,094	$ 897,720

Fair Value (Details 2)

Fair Value (Details 2) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value Level 2
Cash And Cash Equivalents	$ 0	$ 0
Debt Securities Afs	148,126	150,301
Restricted Equity Securities	1,391	1,434
Commercial & Industrial	96	0
Commercial Real Estate	1,571	29
Municipal	0	0
Residential Real Estate - 1st Lien	126	149
Residential Real Estate - Jr Lien	0	0
Consumer	0	0
Msrs (1)	995	995
Accrued Interest Receivable	2,719	2,401
Other Deposits	875,756	879,545
Brokered Deposits	235	246
Long-term Borrowings	1,112	1,179
Repurchase Agreements	28,744	32,610
Operating Lease Obligations	812	864
Finance Lease Obligations	3,805	3,858
Subordinated Debentures	12,826	12,868
Accrued Interest Payable	58	59
Fair Value Level 1
Cash And Cash Equivalents	84,453	110,359
Debt Securities Afs	37,630	32,041
Restricted Equity Securities	0	0
Commercial & Industrial	0	0
Commercial Real Estate	0	0
Municipal	0	0
Residential Real Estate - 1st Lien	0	0
Residential Real Estate - Jr Lien	0	0
Consumer	0	0
Msrs (1)	0	0
Accrued Interest Receivable	0	0
Other Deposits	0	0
Brokered Deposits	0	0
Long-term Borrowings	0	0
Repurchase Agreements	0	0
Operating Lease Obligations	0	0
Finance Lease Obligations	0	0
Subordinated Debentures	0	0
Accrued Interest Payable	0	0
Fair Value Level 3
Cash And Cash Equivalents	0	0
Debt Securities Afs	0	0
Restricted Equity Securities	0	0
Commercial & Industrial	120,247	120,146
Commercial Real Estate	303,512	297,339
Municipal	48,136	49,419
Residential Real Estate - 1st Lien	176,286	180,302
Residential Real Estate - Jr Lien	32,865	34,189
Consumer	3,175	4,436
Msrs (1)	0	0
Accrued Interest Receivable	0	0
Other Deposits	0	0
Brokered Deposits	0	0
Long-term Borrowings	0	0
Repurchase Agreements	0	0
Operating Lease Obligations	0	0
Finance Lease Obligations	0	0
Subordinated Debentures	0	0
Accrued Interest Payable	0	0
Carrying Amount
Cash And Cash Equivalents	84,453	110,359
Debt Securities Afs	185,756	182,342
Restricted Equity Securities	1,391	1,434
Commercial & Industrial	120,196	119,382
Commercial Real Estate	303,589	296,528
Municipal	48,566	47,841
Residential Real Estate - 1st Lien	180,554	180,271
Residential Real Estate - Jr Lien	32,884	34,151
Consumer	3,134	4,406
Msrs (1)	900	898
Accrued Interest Receivable	2,719	2,401
Other Deposits	877,051	879,151
Brokered Deposits	249	249
Long-term Borrowings	1,300	1,300
Repurchase Agreements	28,744	32,610
Operating Lease Obligations	812	864
Finance Lease Obligations	3,805	3,858
Subordinated Debentures	12,887	12,887
Accrued Interest Payable	58	59
Fair Value
Cash And Cash Equivalents	84,453	110,359
Debt Securities Afs	185,756	182,342
Restricted Equity Securities	1,391	1,434
Commercial & Industrial	120,343	120,146
Commercial Real Estate	305,083	297,368
Municipal	48,136	49,419
Residential Real Estate - 1st Lien	176,412	180,451
Residential Real Estate - Jr Lien	32,865	34,189
Consumer	3,175	4,436
Msrs (1)	995	995
Accrued Interest Receivable	2,719	2,401
Other Deposits	875,756	879,545
Brokered Deposits	235	246
Long-term Borrowings	1,112	1,179
Repurchase Agreements	28,744	32,610
Operating Lease Obligations	812	864
Finance Lease Obligations	3,805	3,858
Subordinated Debentures	12,826	12,868
Accrued Interest Payable	$ 58	$ 59

Loan Servicing (Details)

Loan Servicing (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Loan Servicing
Balance At Beginning Of Year	$ 897,720	$ 922,146
Msrs Capitalized	45,304	147,328
Msrs Amortized	(42,930)	(225,404)
Change In Valuation Allowance	0	53,650
Balance At End Of Year	$ 900,094	$ 897,720

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - $ / shares	1 Months Ended	3 Months Ended
	Mar. 16, 2022	Mar. 31, 2022	Mar. 31, 2021
Subsequent Events
Dividends Declared Per Common Share	$ 0.23	$ 0.23	$ 0.22