Community Bancorp (CMTV) 10-Q 12 Aug 22 2022 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2022	Aug. 02, 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	Jun. 30, 2022
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2022
Entity Common Stock Shares Outstanding		5,405,163
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 ($)	Jun. 30, 2022	Dec. 31, 2021
Assets
Cash and due from banks	$ 14,067,456	$ 17,839,374
Federal funds sold and overnight deposits	53,000,170	92,519,552
Total cash and cash equivalents	67,067,626	110,358,926
Securities available-for-sale	188,793,844	182,342,459
Restricted equity securities, at cost	1,390,950	1,434,450
Loans held-for-sale	821,500	339,000
Loans	702,928,547	689,988,533
Allowance for loan losses	(8,232,773)	(7,710,256)
Deferred net loan cost (fees)	405,539	(37,972)
Net loans	695,101,313	682,240,305
Bank premises and equipment, net	13,266,026	13,767,328
Accrued interest receivable	2,650,739	2,400,560
Bank owned life insurance	5,113,467	5,073,228
Goodwill	11,574,269	11,574,269
Other assets	13,662,844	9,575,274
Total assets	999,442,578	1,019,105,799
Deposits:
Demand, non-interest bearing	202,409,216	209,465,151
Interest-bearing transaction accounts	258,462,274	265,513,937
Money market funds	122,432,630	129,728,954
Savings	183,135,690	168,390,905
Time deposits, $250,000 and over	16,076,446	17,463,871
Other time deposits	89,392,386	88,837,135
Total deposits	871,908,642	879,399,953
Borrowed funds	1,300,000	1,300,000
Repurchase agreements	31,234,811	32,609,875
Junior subordinated debentures	12,887,000	12,887,000
Accrued interest and other liabilities	8,133,446	8,148,703
Total liabilities	925,463,899	934,345,531
Shareholders' Equity
Preferred stock, 1,000,000 shares authorized, 15 shares issued and outstanding at 06/30/22 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, 5,615,397 shares issued at 06/30/22 and 5,587,939 shares issued at 12/31/21	14,038,493	13,969,848
Additional paid-in capital	35,847,031	35,322,063
Retained earnings	40,682,558	37,758,105
Accumulated other comprehensive loss	(15,466,626)	(1,166,971)
Less: treasury stock, at cost; 210,101 shares at 06/30/22 and 12/31/21	(2,622,777)	(2,622,777)
Total shareholders' equity	73,978,679	84,760,268
Total liabilities and shareholders' equity	$ 999,442,578	$ 1,019,105,799
Book value per common share outstanding	$ 13.41	$ 15.48

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Jun. 30, 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)	5,615,397	5,587,939
Treasury Stock (in Shares)	210,101	210,101

Consolidated Statements of Inco

Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Interest income
Interest and fees on loans	$ 7,630,710	$ 7,888,423	$ 15,117,910	$ 16,141,719
Interest on taxable debt securities	736,407	293,731	1,392,684	558,844
Interest on tax-exempt debt securities	33,786	0	44,735	0
Dividends	16,632	14,981	33,092	25,600
Interest on federal funds sold and overnight deposits	169,965	80,006	250,625	167,888
Total interest income	8,587,500	8,277,141	16,839,046	16,894,051
Interest expense
Interest on deposits	585,458	631,093	1,137,418	1,336,337
Interest on borrowed funds	21,665	14,449	43,630	29,390
Interest on repurchase agreements	22,129	20,509	43,169	55,951
Interest on junior subordinated debentures	121,063	99,916	219,415	198,711
Total interest expense	750,315	765,967	1,443,632	1,620,389
Net interest income	7,837,185	7,511,174	15,395,414	15,273,662
Provision for loan losses	337,500	267,501	1,200,000	534,998
Net interest income after provision for loan losses	7,499,685	7,243,673	14,195,414	14,738,664
Non-interest income
Service fees	936,382	856,631	1,799,269	1,645,255
Income from sold loans	195,542	277,061	399,384	462,067
Other income from loans	322,913	246,716	594,174	429,989
Other income	179,459	388,127	527,899	803,455
Total non-interest income	1,634,296	1,768,535	3,320,726	3,340,766
Non-interest expense
Salaries and wages	2,034,000	1,944,999	4,074,000	3,920,002
Employee benefits	704,623	824,210	1,476,675	1,655,420
Occupancy expenses, net	673,177	652,202	1,426,541	1,396,922
Other expenses	2,022,664	1,847,985	3,910,836	3,662,103
Total non-interest expense	5,434,464	5,269,396	10,888,052	10,634,447
Income before income taxes	3,699,517	3,742,812	6,628,088	7,444,983
Income tax expense	678,365	696,406	1,201,394	1,372,876
Net income	$ 3,021,152	$ 3,046,406	$ 5,426,694	$ 6,072,107
Earnings per common share	$ 0.56	$ 0.57	$ 1	$ 1.13
Weighted average number of common shares used in computing earnings per share	5,396,060	5,338,502	5,389,406	5,330,497
Dividends declared per common share	$ 0.23	$ 0.22	$ 0.46	$ 0.44

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Consolidated Statements of Comprehensive (Loss) Income (Unaudited)
Net income	$ 3,021,152	$ 3,046,406	$ 5,426,694	$ 6,072,107
Other comprehensive (loss) income, net of tax:
Unrealized holding (loss) gain on securities AFS arising during the period	(7,031,667)	620,812	(18,100,828)	(1,039,828)
Tax effect	1,476,649	(130,370)	3,801,173	218,365
Other comprehensive (loss) income, net of tax	(5,555,018)	490,442	(14,299,655)	(821,463)
Total comprehensive (loss) income	$ (2,533,866)	$ 3,536,848	$ (8,872,961)	$ 5,250,644

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, 2020	77,288,713	13,818,450	1,500,000	34,309,646	29,368,046	915,348	(2,622,777)
Net income	6,072,107
Balance, Amount at Jun. 30, 2021	80,727,089	13,899,668	1,500,000	34,783,343	33,072,970	93,885	(2,622,777)
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)
Issuance of common stock	290,136	38,695		251,441
Common stock	(1,173,253)				(1,173,253)
Preferred stock	(12,187)				(12,187)
Net income	3,046,406				3,046,406
Other comprehensive loss	490,442					490,442
Balance, Amount at Jun. 30, 2021	80,727,089	13,899,668	1,500,000	34,783,343	33,072,970	93,885	(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)
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)
Net income	5,426,694
Balance, Amount at Jun. 30, 2022	73,978,679	14,038,493	1,500,000	35,847,031	40,682,558	(15,466,626)	(2,622,777)
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)
Issuance of common stock	320,930	33,048		287,882
Common stock	(1,240,049)				(1,240,049)
Preferred stock	(13,124)				(13,124)
Net income	3,021,152				3,021,152
Other comprehensive loss	(5,555,018)					(5,555,018)
Balance, Amount at Jun. 30, 2022	$ 73,978,679	$ 14,038,493	$ 1,500,000	$ 35,847,031	$ 40,682,558	$ (15,466,626)	$ (2,622,777)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash Flows from Operating Activities:
Net income	$ 5,426,694	$ 6,072,107
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization, bank premises and equipment	570,063	527,106
Provision for loan losses	1,200,000	534,998
Deferred income tax	13,973	(118,016)
Gain on sale of loans	(198,869)	(256,724)
Gain on sale of bank premises and equipment	0	(9,800)
(Income) loss from CFS Partners	(298,831)	1,405,942
Amortization of bond premium, net	361,335	227,051
Proceeds from sales of loans held for sale	7,527,010	6,720,974
Originations of loans held for sale	(7,810,641)	(7,127,394)
Increase (decrease) in taxes payable	151,237	(502,632)
Increase in interest receivable	(250,179)	(52,856)
Decrease in mortgage servicing rights	1,019	12,816
Decrease in right-of-use assets	99,340	98,078
Decrease in operating lease liabilities	(102,577)	(98,407)
Increase in other assets	(287,979)	(158,830)
Increase in cash surrender value of BOLI	(40,239)	(42,751)
Amortization of limited partnerships	134,184	181,524
Change in net deferred loan fees and costs	(443,511)	1,603,391
Decrease in interest payable	(7,759)	(25,382)
Increase (decrease) in accrued expenses	82,812	(217,439)
Increase (decrease) in other liabilities	132,754	(65,366)
Net cash provided by operating activities	6,259,836	8,708,390
Investments - AFS
Maturities, calls, pay downs and sales	9,909,154	9,522,747
Purchases	(34,822,702)	(41,640,583)
Proceeds from redemption of restricted equity securities	43,500	0
Purchases of restricted equity securities	0	(600)
Decrease in limited partnership contributions payable	0	(150,000)
(Increase) decrease in loans, net	(13,648,856)	5,097,834
Capital expenditures net of proceeds from sales of bank premises and equipment	(168,101)	(2,884,472)
Recoveries of loans charged off	31,359	31,994
Net cash used in investing activities	(38,655,646)	(30,023,080)
Cash Flows from Financing Activities:
Net (decrease) increase in demand and interest-bearing transaction accounts	(14,107,598)	7,893,263
Net increase in money market and savings accounts	7,448,461	14,984,300
Net decrease in time deposits	(832,174)	(5,275,008)
Net decrease in repurchase agreements	(1,375,064)	(15,210,676)
Repayments on long-term borrowings	0	(500,000)
(Decrease) increase in finance lease obligations	(105,918)	2,340,406
Dividends paid on preferred stock	(25,312)	(24,375)
Dividends paid on common stock	(1,897,885)	(1,636,606)
Net cash (used in) provided by financing activities	(10,895,490)	2,571,304
Net decrease in cash and cash equivalents	(43,291,300)	(18,743,386)
Cash and cash equivalents:
Beginning	110,358,926	115,049,920
Ending	67,067,626	96,306,534
Supplemental Schedule of Cash Paid During the Period:
Interest	1,451,391	1,645,771
Income taxes, net of refunds	902,000	1,812,000
Supplemental Schedule of Noncash Investing and Financing Activities:
Change in unrealized loss on securities AFS	(18,100,828)	(1,039,828)
Common Shares Dividends Paid:
Dividends declared	2,476,929	2,342,808
Decrease (increase) in dividends payable attributable to dividends declared	14,569	(151,287)
Dividends reinvested	(593,613)	(554,915)
Total dividends paid	$ 1,897,885	$ 1,636,606

Basis of Presentation and Conso

Basis of Presentation and Consolidation and Certain Definitions	6 Months Ended
	Jun. 30, 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. Certain amounts disclosed in the Notes below for the 2021 annual and three- and six-month periods of 2021 have been reclassified to conform to the current year presentation. 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	6 Months Ended
	Jun. 30, 2022
Recent Accounting Developments
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,

Earnings per Common Share

Earnings per Common Share	6 Months Ended
	Jun. 30, 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 June 30, 2022 2021 Net income, as reported $ 3,021,152 $ 3,046,406 Less: dividends to preferred shareholders 13,124 12,187 Net income available to common shareholders $ 3,008,026 $ 3,034,219 Weighted average number of common shares used in calculating earnings per share 5,396,060 5,338,502 Earnings per common share $ 0.56 $ 0.57 Six Months Ended June 30, 2022 2021 Net income, as reported $ 5,426,694 $ 6,072,107 Less: dividends to preferred shareholders 25,312 24,375 Net income available to common shareholders $ 5,401,382 $ 6,047,732 Weighted average number of common shares used in calculating earnings per share 5,389,406 5,330,497 Earnings per common share $ 1.00 $ 1.13

Investment Securities

Investment Securities	6 Months Ended
	Jun. 30, 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 June 30, 2022 U.S. GSE debt securities $ 12,000,634 $ 0 $ 1,107,701 $ 10,892,933 U.S. Government securities 41,450,075 0 2,334,482 39,115,593 Taxable Municipal securities 300,000 0 44,577 255,423 Tax-Exempt Municipal securities 7,883,149 13,850 736,794 7,160,205 Agency MBS 134,470,203 1,147 15,068,674 119,402,676 ABS and OAS 3,401,782 0 146,881 3,254,901 CMO 4,413,009 0 128,775 4,284,234 Other investments 4,453,000 21,641 46,762 4,427,879 Total $ 208,371,852 $ 36,638 $ 19,614,646 $ 188,793,844 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 June 30, 2022 $ 58,941,063 $ 51,906,145 December 31, 2021 63,045,599 62,256,702 There were no sales of debt securities during the first six months of 2022 or 2021. The scheduled maturities of debt securities as of the balance sheet dates were as follows: Amortized Fair Cost Value June 30, 2022 Due in one year or less $ 2,719,000 $ 2,729,538 Due from one to five years 49,672,996 47,002,889 Due from five to ten years 10,771,129 9,863,949 Due after ten years 10,738,524 9,794,792 Agency MBS 134,470,203 119,402,676 Total $ 208,371,852 $ 188,793,844 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 June 30, 2022 U.S. GSE debt securities $ 6,510,319 $ 490,315 $ 4,382,614 $ 617,386 11 $ 10,892,933 $ 1,107,701 U.S. Government securities 39,115,593 2,334,482 0 0 54 39,115,593 2,334,482 Taxable Municipal securities 255,423 44,577 0 0 1 255,423 44,577 Tax-Exempt Municipal securities 6,173,358 736,794 0 0 13 6,173,358 736,794 Agency MBS 92,251,657 10,630,897 26,698,638 4,437,777 115 118,950,295 15,068,674 ABS and OAS 3,254,901 146,881 0 0 4 3,254,901 146,881 CMO 3,433,918 55,004 850,316 73,771 5 4,284,234 128,775 Other investments 696,238 46,762 0 0 3 696,238 46,762 Total $ 151,691,407 $ 14,485,712 $ 31,931,568 $ 5,128,934 206 $ 183,622,975 $ 19,614,646 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 June 30, 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	6 Months Ended
	Jun. 30, 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: June 30, December 31, 2022 2021 Commercial & industrial $ 120,772,242 $ 111,125,622 Purchased loans $ 8,546,059 $ 9,807,848 Commercial real estate 318,083,654 300,958,931 Municipal 32,399,252 47,955,231 Residential real estate - 1st lien 186,106,141 181,316,345 Residential real estate - Jr lien 33,557,360 34,359,864 Consumer 3,463,839 4,464,692 Total loans 702,928,547 689,988,533 ALL (8,232,773 ) (7,710,256 ) Deferred net loan cost (fees) 405,539 (37,972 ) Net loans $ 695,101,313 $ 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 June 30, 2022 30-89 Days or More Past Due Current Total Loans Loans Accruing Commercial & industrial $ 204,378 $ 83,129 $ 287,507 $ 120,484,735 $ 120,772,242 $ 145,810 $ 0 Purchased loans 0 0 0 8,546,059 8,546,059 0 0 Commercial real estate 921,424 1,591,576 2,513,000 315,570,654 318,083,654 3,395,197 0 Municipal 0 0 0 32,399,252 32,399,252 0 0 Residential real estate - 1st lien 565,663 368,820 934,483 185,171,658 186,106,141 1,180,608 166,733 - Jr lien 308,326 88,513 396,839 33,160,521 33,557,360 136,750 88,513 Consumer 15,228 0 15,228 3,448,611 3,463,839 0 0 Totals $ 2,015,019 $ 2,132,038 $ 4,147,057 $ 698,781,490 $ 702,928,547 $ 4,858,365 $ 255,246 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 $ 110,291,747 $ 111,125,622 $ 98,661 $ 0 Purchased loans 0 0 0 9,807,848 9,807,848 0 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 June 30, 2022 4 $ 268,260 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, purchased loans 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, as of March 31, 2022, the look back period was changed 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 – Purchased Loans – 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. 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 June 30, 2022 Residential Residential Commercial Purchased Commercial Real Estate Real Estate & Industrial Loans Real Estate Municipal 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 975,669 $ 63,631 $ 4,644,281 $ 87,589 $ 1,814,457 $ 178,553 $ 36,192 $ 90,276 $ 7,890,648 Charge-offs (2,928 ) 0 0 0 0 0 (12,027 ) 0 (14,955 ) Recoveries 2,454 0 0 0 10,287 1,220 5,619 0 19,580 Provision (credit) 132,053 (3,809 ) 164,043 (29,270 ) 20,764 1,441 11,772 40,506 337,500 ALL ending balance $ 1,107,248 $ 59,822 $ 4,808,324 $ 58,319 $ 1,845,508 $ 181,214 $ 41,556 $ 130,782 $ 8,232,773 As of or for the six months ended June 30, 2022 Residential Residential Commercial Purchased Commercial Real Estate Real Estate & Industrial Loans Real Estate Municipal 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 870,392 $ 68,655 $ 4,151,760 $ 76,728 $ 1,765,892 $ 182,014 $ 55,698 $ 539,117 $ 7,710,256 Charge-offs (20,578 ) 0 (667,474 ) 0 0 0 (20,790 ) 0 (708,842 ) Recoveries 2,454 0 0 0 12,563 2,430 13,912 0 31,359 Provision (credit) 254,980 (8,833 ) 1,324,038 (18,409 ) 67,053 (3,230 ) (7,264 ) (408,335 ) 1,200,000 ALL ending balance $ 1,107,248 $ 59,822 $ 4,808,324 $ 58,319 $ 1,845,508 $ 181,214 $ 41,556 $ 130,782 $ 8,232,773 ALL evaluated for impairment Individually $ 0 $ 0 $ 0 $ 0 $ 102,062 $ 0 $ 0 $ 0 $ 102,062 Collectively 1,107,248 59,822 4,808,324 58,319 1,743,446 181,214 41,556 130,782 8,130,711 Total $ 1,107,248 $ 59,822 $ 4,808,324 $ 58,319 $ 1,845,508 $ 181,214 $ 41,556 $ 130,782 $ 8,232,773 Loans evaluated for impairment Individually $ 145,810 $ 0 $ 3,396,349 $ 0 $ 3,718,383 $ 82,400 $ 0 $ 7,342,942 Collectively 120,626,432 8,546,059 314,687,305 32,399,252 182,387,758 33,474,960 3,463,839 695,585,605 Total $ 120,772,242 $ 8,546,059 $ 318,083,654 $ 32,399,252 $ 186,106,141 $ 33,557,360 $ 3,463,839 $ 702,928,547 As of or for the year ended December 31, 2021 Residential Residential Commercial Purchased Commercial Real Estate Real Estate & Industrial Loans Real Estate Municipal 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 778,287 $ 64,260 $ 3,854,153 $ 82,211 $ 1,735,304 $ 234,896 $ 60,461 $ 398,913 $ 7,208,485 Charge-offs (18,847 ) 0 (22,000 ) 0 (98,704 ) 0 (87,651 ) 0 (227,202 ) Recoveries 4,761 0 27,160 0 7,636 10,821 54,430 0 104,808 Provision (credit) 106,191 4,395 292,447 (5,483 ) 121,656 (63,703 ) 28,458 140,204 624,165 ALL ending balance $ 870,392 $ 68,655 $ 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 $ 0 $ 79,978 $ 0 $ 0 $ 0 $ 79,978 Collectively 870,392 68,655 4,151,760 76,728 1,685,914 182,014 55,698 539,117 7,630,278 Total $ 870,392 $ 68,655 $ 4,151,760 $ 76,728 $ 1,765,892 $ 182,014 $ 55,698 $ 539,117 $ 7,710,256 Loans evaluated for impairment Individually $ 93,362 $ 0 $ 4,553,734 $ 0 $ 3,720,503 $ 88,563 $ 0 $ 8,456,162 Collectively 111,032,260 9,807,848 296,405,197 47,955,231 177,595,842 34,271,301 4,464,692 681,532,371 Total $ 111,125,622 $ 9,807,848 $ 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 June 30, 2021 Residential Residential Commercial Purchased Commercial Real Estate Real Estate & Industrial Loans Real Estate Municipal 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 807,242 $ 81,389 $ 3,823,685 $ 83,531 $ 1,667,594 $ 203,312 $ 39,622 $ 761,913 $ 7,468,288 Charge-offs 0 0 0 0 0 0 (23,212 ) 0 (23,212 ) Recoveries 0 0 0 0 759 432 5,489 0 6,680 Provision (credit) 16,495 (5,963 ) 109,161 (26,239 ) (13,310 ) (2,475 ) 39,325 150,507 267,501 ALL ending balance $ 823,737 $ 75,426 $ 3,932,846 $ 57,292 $ 1,655,043 $ 201,269 $ 61,224 $ 912,420 $ 7,719,257 As of or for the six months ended June 30, 2021 Residential Residential Commercial Purchased Commercial Real Estate Real Estate & Industrial Loans Real Estate Municipal 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 778,287 $ 64,260 $ 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 0 (37,373 ) 0 (56,220 ) Recoveries 4,761 0 7,000 0 2,326 960 16,947 0 31,994 Provision (credit) 59,536 11,166 71,693 (24,919 ) (82,587 ) (34,587 ) 21,189 513,507 534,998 ALL ending balance $ 823,737 $ 75,426 $ 3,932,846 $ 57,292 $ 1,655,043 $ 201,269 $ 61,224 $ 912,420 $ 7,719,257 Impaired loans, by portfolio segment, were as follows: As of June 30, 2022 Unpaid Average Average Interest Recorded Principal Related Recorded Recorded Income Investment(1) Balance Allowance Investment(1)(2) Investment(1)(3) Recognized (3) Related allowance recorded Residential real estate 1st lien $ 1,011,645 $ 1,033,657 $ 102,062 $ 1,062,379 $ 942,448 $ 26,957 Jr lien 0 0 0 0 0 100 Total with related allowance 1,011,645 1,033,657 102,062 1,062,379 942,448 27,057 No related allowance recorded Commercial & industrial 145,810 181,929 184,023 153,803 204 Commercial real estate 3,396,482 4,548,768 3,554,895 3,887,955 1,492 Residential real estate 1st lien 2,739,726 3,745,194 2,787,897 2,875,480 92,508 Jr lien 82,405 128,821 84,051 85,557 71 Total with no related allowance 6,364,423 8,604,712 6,610,866 7,002,795 94,275 Total impaired loans $ 7,376,068 $ 9,638,369 $ 102,062 $ 7,673,245 $ 7,945,243 $ 121,332 (1) Recorded investment in impaired loans as of June 30, 2022 includes accrued interest receivable of $33,126. (2) For the three months ended June 30, 2022. (3) For the six months ended June 30, 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 June 30, 2021 Unpaid Average Average Interest Recorded Principal Related Recorded Recorded Income Investment(1) Balance Allowance Investment(1)(2) Investment(1)(3) Recognized(3) Related allowance recorded Residential real estate 1st lien $ 819,752 $ 826,472 $ 98,503 $ 967,850 $ 945,427 $ 32,518 Jr lien 4,181 4,174 233 4,323 4,475 228 Total with related allowance 823,933 830,646 98,736 972,173 949,902 32,746 No related allowance recorded Commercial & industrial 382,207 452,976 401,591 405,816 204 Commercial real estate 1,880,489 2,369,692 1,763,205 1,823,474 4,299 Residential real estate 1st lien 3,371,491 4,290,817 3,342,168 3,491,101 111,079 Jr lien 135,745 179,768 137,307 134,964 0 Total with no related allowance 5,769,932 7,293,253 5,644,271 5,855,355 115,582 Total impaired loans $ 6,593,865 $ 8,123,899 $ 98,736 $ 6,616,444 $ 6,805,257 $ 148,328 (1) Recorded investment in impaired loans as of June 30, 2021 includes accrued interest receivable and deferred net loan costs of $37,535. (2) For the three months ended June 30, 2021. (3) For the six months ended June 30, 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 June 30, 2022 Residential Residential Commercial Purchased Commercial Real Estate Real Estate & Industrial Loans Real Estate Municipal 1st Lien Jr Lien Consumer Total Group A $ 111,341,511 $ 8,546,059 $ 306,949,429 $ 32,399,252 $ 182,569,741 $ 33,091,840 $ 3,463,839 $ 678,361,671 Group B 6,413,977 0 2,452,233 0 0 0 0 8,866,210 Group C 3,016,754 0 8,681,992 0 3,536,400 465,520 0 15,700,666 Total $ 120,772,242 $ 8,546,059 $ 318,083,654 $ 32,399,252 $ 186,106,141 $ 33,557,360 $ 3,463,839 $ 702,928,547 As of December 31, 2021 Residential Residential Commercial Purchased Commercial Real Estate Real Estate & Industrial Loans Real Estate Municipal 1st Lien Jr Lien Consumer Total Group A $ 107,799,925 $ 9,807,848 $ 285,732,365 $ 47,955,231 $ 177,456,149 $ 34,166,076 $ 4,464,692 $ 667,382,286 Group B 693,084 0 6,550,335 0 0 0 0 7,243,419 Group C 2,632,613 0 8,676,231 0 3,860,196 193,788 0 15,362,828 Total $ 111,125,622 $ 9,807,848 $ 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. 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, 339 remained on the books with an aggregate principal balance of $93.7 million as of June 30, 2022. None of these loans were in a deferral status as of June 30, 2022; however these loans may bear a higher risk of default in future periods. New TDRs, by portfolio segment, during the periods presented were as follows, there were no new TDRs for the three months ended June 30, 2022 and 2021: Six months ended June 30, 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 Six months ended June 30, 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 June 30, 2022 Number of Recorded Contracts Investment Commercial real estate 2 $ 2,412,179 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 For the twelve months ended June 30, 2021 Number of Recorded Contracts Investment Commercial & industrial 1 $ 39,876 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. June 30, December 31, 2022 2021 Specific Allocation $ 102,062 $ 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	6 Months Ended
	Jun. 30, 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.

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 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. June 30, December 31, Assets: (market approach) 2022 2021 Level 1 U.S. Government securities $ 39,115,593 $ 32,041,041 Level 2 U.S. GSE debt securities $ 10,892,933 $ 11,828,498 Taxable Municipal securities 255,423 298,733 Tax-Exempt Municipal securities 7,160,205 831,379 Agency MBS 119,402,676 127,132,521 ABS and OAS 3,254,901 2,214,024 CMO 4,284,234 1,420,458 Other investments 4,427,879 6,575,805 Level 2 Total $ 149,678,251 $ 150,301,418 Grand Total $ 188,793,844 $ 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. June 30, December 31, Level 2 2022 2021 Assets: (market approach) Impaired loans, net of related allowance $ 1,743,115 $ 177,523 Loans held-for-sale 821,500 339,000 MSRs (1) 896,701 897,720 (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: June 30, 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 $ 67,068 $ 67,068 $ 0 $ 0 $ 67,068 Debt securities AFS 188,794 39,116 149,678 0 188,794 Restricted equity securities 1,391 0 1,391 0 1,391 Loans and loans held-for-sale, net of ALL Commercial & industrial 119,559 0 29 119,577 119,606 Purchased loans 8,485 0 0 8,459 8,459 Commercial real estate 313,178 0 1,592 311,006 312,598 Municipal 32,335 0 0 33,037 33,037 Residential real estate - 1st lien 185,575 0 122 176,002 176,124 Residential real estate - Jr lien 33,369 0 0 33,274 33,274 Consumer 3,422 0 0 3,446 3,446 MSRs (1) 897 0 1,295 0 1,295 Accrued interest receivable 2,651 0 2,651 0 2,651 Financial liabilities: Deposits Other deposits 871,660 0 869,244 0 869,244 Brokered deposits 249 0 231 0 231 Long-term borrowings 1,300 0 1,075 0 1,075 Repurchase agreements 31,235 0 31,235 0 31,235 Operating lease obligations 761 0 761 0 761 Finance lease obligations 3,752 0 3,752 0 3,752 Subordinated debentures 12,887 0 12,334 0 12,334 Accrued interest payable 51 0 51 0 51 (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 109,574 0 0 110,284 110,284 Purchased loans 9,808 0 0 9,862 9,862 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	6 Months Ended
	Jun. 30, 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: Six Months Ended Year Ended June 30, 2022 December 31, 2021 Balance at beginning of year $ 897,720 $ 922,146 MSRs capitalized 77,676 147,328 MSRs amortized (78,695 ) (225,404 ) Change in valuation allowance 0 53,650 Balance at end of period $ 896,701 $ 897,720

Legal Proceedings

Legal Proceedings	6 Months Ended
	Jun. 30, 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	6 Months Ended
	Jun. 30, 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 June 15, 2022, the Company’s Board declared a cash dividend of $0.23 per common share, payable August 1, 2022 to shareholders of record as of July 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)	6 Months Ended
	Jun. 30, 2022
Earnings per Common Share
Schedule Of Earnings Per Common Share	Three Months Ended June 30, 2022 2021 Net income, as reported $ 3,021,152 $ 3,046,406 Less: dividends to preferred shareholders 13,124 12,187 Net income available to common shareholders $ 3,008,026 $ 3,034,219 Weighted average number of common shares used in calculating earnings per share 5,396,060 5,338,502 Earnings per common share $ 0.56 $ 0.57 Six Months Ended June 30, 2022 2021 Net income, as reported $ 5,426,694 $ 6,072,107 Less: dividends to preferred shareholders 25,312 24,375 Net income available to common shareholders $ 5,401,382 $ 6,047,732 Weighted average number of common shares used in calculating earnings per share 5,389,406 5,330,497 Earnings per common share $ 1.00 $ 1.13

Investment Securities (Tables)

Investment Securities (Tables)	6 Months Ended
	Jun. 30, 2022
Investment Securities
Schedule Of Available For Debt Securities	Gross Gross Amortized Unrealized Unrealized Fair Cost Gains Losses Value June 30, 2022 U.S. GSE debt securities $ 12,000,634 $ 0 $ 1,107,701 $ 10,892,933 U.S. Government securities 41,450,075 0 2,334,482 39,115,593 Taxable Municipal securities 300,000 0 44,577 255,423 Tax-Exempt Municipal securities 7,883,149 13,850 736,794 7,160,205 Agency MBS 134,470,203 1,147 15,068,674 119,402,676 ABS and OAS 3,401,782 0 146,881 3,254,901 CMO 4,413,009 0 128,775 4,284,234 Other investments 4,453,000 21,641 46,762 4,427,879 Total $ 208,371,852 $ 36,638 $ 19,614,646 $ 188,793,844 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 June 30, 2022 $ 58,941,063 $ 51,906,145 December 31, 2021 63,045,599 62,256,702
Schedule Of Maturities Of Debt Securities Available For Sale	Amortized Fair Cost Value June 30, 2022 Due in one year or less $ 2,719,000 $ 2,729,538 Due from one to five years 49,672,996 47,002,889 Due from five to ten years 10,771,129 9,863,949 Due after ten years 10,738,524 9,794,792 Agency MBS 134,470,203 119,402,676 Total $ 208,371,852 $ 188,793,844 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 June 30, 2022 U.S. GSE debt securities $ 6,510,319 $ 490,315 $ 4,382,614 $ 617,386 11 $ 10,892,933 $ 1,107,701 U.S. Government securities 39,115,593 2,334,482 0 0 54 39,115,593 2,334,482 Taxable Municipal securities 255,423 44,577 0 0 1 255,423 44,577 Tax-Exempt Municipal securities 6,173,358 736,794 0 0 13 6,173,358 736,794 Agency MBS 92,251,657 10,630,897 26,698,638 4,437,777 115 118,950,295 15,068,674 ABS and OAS 3,254,901 146,881 0 0 4 3,254,901 146,881 CMO 3,433,918 55,004 850,316 73,771 5 4,284,234 128,775 Other investments 696,238 46,762 0 0 3 696,238 46,762 Total $ 151,691,407 $ 14,485,712 $ 31,931,568 $ 5,128,934 206 $ 183,622,975 $ 19,614,646 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)	6 Months Ended
	Jun. 30, 2022
Loans Allowance for Loan Losses and Credit Quality
Schedule Of Composition Of Net Loans	June 30, December 31, 2022 2021 Commercial & industrial $ 120,772,242 $ 111,125,622 Purchased loans $ 8,546,059 $ 9,807,848 Commercial real estate 318,083,654 300,958,931 Municipal 32,399,252 47,955,231 Residential real estate - 1st lien 186,106,141 181,316,345 Residential real estate - Jr lien 33,557,360 34,359,864 Consumer 3,463,839 4,464,692 Total loans 702,928,547 689,988,533 ALL (8,232,773 ) (7,710,256 ) Deferred net loan cost (fees) 405,539 (37,972 ) Net loans $ 695,101,313 $ 682,240,305
Schedule Of Past Due Loans By Segment	90 Days Total Non-Accrual 90 Days or More and June 30, 2022 30-89 Days or More Past Due Current Total Loans Loans Accruing Commercial & industrial $ 204,378 $ 83,129 $ 287,507 $ 120,484,735 $ 120,772,242 $ 145,810 $ 0 Purchased loans 0 0 0 8,546,059 8,546,059 0 0 Commercial real estate 921,424 1,591,576 2,513,000 315,570,654 318,083,654 3,395,197 0 Municipal 0 0 0 32,399,252 32,399,252 0 0 Residential real estate - 1st lien 565,663 368,820 934,483 185,171,658 186,106,141 1,180,608 166,733 - Jr lien 308,326 88,513 396,839 33,160,521 33,557,360 136,750 88,513 Consumer 15,228 0 15,228 3,448,611 3,463,839 0 0 Totals $ 2,015,019 $ 2,132,038 $ 4,147,057 $ 698,781,490 $ 702,928,547 $ 4,858,365 $ 255,246 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 $ 110,291,747 $ 111,125,622 $ 98,661 $ 0 Purchased loans 0 0 0 9,807,848 9,807,848 0 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 June 30, 2022 4 $ 268,260 December 31, 2021 5 195,082
Changes In Allowances For Loan Losses	As of or for the three months ended June 30, 2022 Residential Residential Commercial Purchased Commercial Real Estate Real Estate & Industrial Loans Real Estate Municipal 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 975,669 $ 63,631 $ 4,644,281 $ 87,589 $ 1,814,457 $ 178,553 $ 36,192 $ 90,276 $ 7,890,648 Charge-offs (2,928 ) 0 0 0 0 0 (12,027 ) 0 (14,955 ) Recoveries 2,454 0 0 0 10,287 1,220 5,619 0 19,580 Provision (credit) 132,053 (3,809 ) 164,043 (29,270 ) 20,764 1,441 11,772 40,506 337,500 ALL ending balance $ 1,107,248 $ 59,822 $ 4,808,324 $ 58,319 $ 1,845,508 $ 181,214 $ 41,556 $ 130,782 $ 8,232,773 As of or for the six months ended June 30, 2022 Residential Residential Commercial Purchased Commercial Real Estate Real Estate & Industrial Loans Real Estate Municipal 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 870,392 $ 68,655 $ 4,151,760 $ 76,728 $ 1,765,892 $ 182,014 $ 55,698 $ 539,117 $ 7,710,256 Charge-offs (20,578 ) 0 (667,474 ) 0 0 0 (20,790 ) 0 (708,842 ) Recoveries 2,454 0 0 0 12,563 2,430 13,912 0 31,359 Provision (credit) 254,980 (8,833 ) 1,324,038 (18,409 ) 67,053 (3,230 ) (7,264 ) (408,335 ) 1,200,000 ALL ending balance $ 1,107,248 $ 59,822 $ 4,808,324 $ 58,319 $ 1,845,508 $ 181,214 $ 41,556 $ 130,782 $ 8,232,773 ALL evaluated for impairment Individually $ 0 $ 0 $ 0 $ 0 $ 102,062 $ 0 $ 0 $ 0 $ 102,062 Collectively 1,107,248 59,822 4,808,324 58,319 1,743,446 181,214 41,556 130,782 8,130,711 Total $ 1,107,248 $ 59,822 $ 4,808,324 $ 58,319 $ 1,845,508 $ 181,214 $ 41,556 $ 130,782 $ 8,232,773 Loans evaluated for impairment Individually $ 145,810 $ 0 $ 3,396,349 $ 0 $ 3,718,383 $ 82,400 $ 0 $ 7,342,942 Collectively 120,626,432 8,546,059 314,687,305 32,399,252 182,387,758 33,474,960 3,463,839 695,585,605 Total $ 120,772,242 $ 8,546,059 $ 318,083,654 $ 32,399,252 $ 186,106,141 $ 33,557,360 $ 3,463,839 $ 702,928,547 As of or for the year ended December 31, 2021 Residential Residential Commercial Purchased Commercial Real Estate Real Estate & Industrial Loans Real Estate Municipal 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 778,287 $ 64,260 $ 3,854,153 $ 82,211 $ 1,735,304 $ 234,896 $ 60,461 $ 398,913 $ 7,208,485 Charge-offs (18,847 ) 0 (22,000 ) 0 (98,704 ) 0 (87,651 ) 0 (227,202 ) Recoveries 4,761 0 27,160 0 7,636 10,821 54,430 0 104,808 Provision (credit) 106,191 4,395 292,447 (5,483 ) 121,656 (63,703 ) 28,458 140,204 624,165 ALL ending balance $ 870,392 $ 68,655 $ 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 $ 0 $ 79,978 $ 0 $ 0 $ 0 $ 79,978 Collectively 870,392 68,655 4,151,760 76,728 1,685,914 182,014 55,698 539,117 7,630,278 Total $ 870,392 $ 68,655 $ 4,151,760 $ 76,728 $ 1,765,892 $ 182,014 $ 55,698 $ 539,117 $ 7,710,256 Loans evaluated for impairment Individually $ 93,362 $ 0 $ 4,553,734 $ 0 $ 3,720,503 $ 88,563 $ 0 $ 8,456,162 Collectively 111,032,260 9,807,848 296,405,197 47,955,231 177,595,842 34,271,301 4,464,692 681,532,371 Total $ 111,125,622 $ 9,807,848 $ 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 June 30, 2021 Residential Residential Commercial Purchased Commercial Real Estate Real Estate & Industrial Loans Real Estate Municipal 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 807,242 $ 81,389 $ 3,823,685 $ 83,531 $ 1,667,594 $ 203,312 $ 39,622 $ 761,913 $ 7,468,288 Charge-offs 0 0 0 0 0 0 (23,212 ) 0 (23,212 ) Recoveries 0 0 0 0 759 432 5,489 0 6,680 Provision (credit) 16,495 (5,963 ) 109,161 (26,239 ) (13,310 ) (2,475 ) 39,325 150,507 267,501 ALL ending balance $ 823,737 $ 75,426 $ 3,932,846 $ 57,292 $ 1,655,043 $ 201,269 $ 61,224 $ 912,420 $ 7,719,257 As of or for the six months ended June 30, 2021 Residential Residential Commercial Purchased Commercial Real Estate Real Estate & Industrial Loans Real Estate Municipal 1st Lien Jr Lien Consumer Unallocated Total ALL beginning balance $ 778,287 $ 64,260 $ 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 0 (37,373 ) 0 (56,220 ) Recoveries 4,761 0 7,000 0 2,326 960 16,947 0 31,994 Provision (credit) 59,536 11,166 71,693 (24,919 ) (82,587 ) (34,587 ) 21,189 513,507 534,998 ALL ending balance $ 823,737 $ 75,426 $ 3,932,846 $ 57,292 $ 1,655,043 $ 201,269 $ 61,224 $ 912,420 $ 7,719,257
Impaired Loans By Portfolio Segment	As of June 30, 2022 Unpaid Average Average Interest Recorded Principal Related Recorded Recorded Income Investment(1) Balance Allowance Investment(1)(2) Investment(1)(3) Recognized (3) Related allowance recorded Residential real estate 1st lien $ 1,011,645 $ 1,033,657 $ 102,062 $ 1,062,379 $ 942,448 $ 26,957 Jr lien 0 0 0 0 0 100 Total with related allowance 1,011,645 1,033,657 102,062 1,062,379 942,448 27,057 No related allowance recorded Commercial & industrial 145,810 181,929 184,023 153,803 204 Commercial real estate 3,396,482 4,548,768 3,554,895 3,887,955 1,492 Residential real estate 1st lien 2,739,726 3,745,194 2,787,897 2,875,480 92,508 Jr lien 82,405 128,821 84,051 85,557 71 Total with no related allowance 6,364,423 8,604,712 6,610,866 7,002,795 94,275 Total impaired loans $ 7,376,068 $ 9,638,369 $ 102,062 $ 7,673,245 $ 7,945,243 $ 121,332 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 June 30, 2021 Unpaid Average Average Interest Recorded Principal Related Recorded Recorded Income Investment(1) Balance Allowance Investment(1)(2) Investment(1)(3) Recognized(3) Related allowance recorded Residential real estate 1st lien $ 819,752 $ 826,472 $ 98,503 $ 967,850 $ 945,427 $ 32,518 Jr lien 4,181 4,174 233 4,323 4,475 228 Total with related allowance 823,933 830,646 98,736 972,173 949,902 32,746 No related allowance recorded Commercial & industrial 382,207 452,976 401,591 405,816 204 Commercial real estate 1,880,489 2,369,692 1,763,205 1,823,474 4,299 Residential real estate 1st lien 3,371,491 4,290,817 3,342,168 3,491,101 111,079 Jr lien 135,745 179,768 137,307 134,964 0 Total with no related allowance 5,769,932 7,293,253 5,644,271 5,855,355 115,582 Total impaired loans $ 6,593,865 $ 8,123,899 $ 98,736 $ 6,616,444 $ 6,805,257 $ 148,328
Risk Ratings Portfolio Segment	Residential Residential Commercial Purchased Commercial Real Estate Real Estate & Industrial Loans Real Estate Municipal 1st Lien Jr Lien Consumer Total Group A $ 111,341,511 $ 8,546,059 $ 306,949,429 $ 32,399,252 $ 182,569,741 $ 33,091,840 $ 3,463,839 $ 678,361,671 Group B 6,413,977 0 2,452,233 0 0 0 0 8,866,210 Group C 3,016,754 0 8,681,992 0 3,536,400 465,520 0 15,700,666 Total $ 120,772,242 $ 8,546,059 $ 318,083,654 $ 32,399,252 $ 186,106,141 $ 33,557,360 $ 3,463,839 $ 702,928,547 Residential Residential Commercial Purchased Commercial Real Estate Real Estate & Industrial Loans Real Estate Municipal 1st Lien Jr Lien Consumer Total Group A $ 107,799,925 $ 9,807,848 $ 285,732,365 $ 47,955,231 $ 177,456,149 $ 34,166,076 $ 4,464,692 $ 667,382,286 Group B 693,084 0 6,550,335 0 0 0 0 7,243,419 Group C 2,632,613 0 8,676,231 0 3,860,196 193,788 0 15,362,828 Total $ 111,125,622 $ 9,807,848 $ 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	Six months ended June 30, 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 Six months ended June 30, 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 June 30, 2022 Number of Recorded Contracts Investment Commercial real estate 2 $ 2,412,179 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 For the twelve months ended June 30, 2021 Number of Recorded Contracts Investment Commercial & industrial 1 $ 39,876
Specific Allowances	June 30, December 31, 2022 2021 Specific Allocation $ 102,062 $ 79,978

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value
Schedule Of Fair Value Assets And Liabilities On Recurring Basis	June 30, December 31, Assets: (market approach) 2022 2021 Level 1 U.S. Government securities $ 39,115,593 $ 32,041,041 Level 2 U.S. GSE debt securities $ 10,892,933 $ 11,828,498 Taxable Municipal securities 255,423 298,733 Tax-Exempt Municipal securities 7,160,205 831,379 Agency MBS 119,402,676 127,132,521 ABS and OAS 3,254,901 2,214,024 CMO 4,284,234 1,420,458 Other investments 4,427,879 6,575,805 Level 2 Total $ 149,678,251 $ 150,301,418 Grand Total $ 188,793,844 $ 182,342,459
Schedule Of Fair Value Assets And Liabilities Non-recurring Basis	June 30, December 31, Level 2 2022 2021 Assets: (market approach) Impaired loans, net of related allowance $ 1,743,115 $ 177,523 Loans held-for-sale 821,500 339,000 MSRs (1) 896,701 897,720
Schedule Of Estimated Fair Values Of Financial Instruments	June 30, 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 $ 67,068 $ 67,068 $ 0 $ 0 $ 67,068 Debt securities AFS 188,794 39,116 149,678 0 188,794 Restricted equity securities 1,391 0 1,391 0 1,391 Loans and loans held-for-sale, net of ALL Commercial & industrial 119,559 0 29 119,577 119,606 Purchased loans 8,485 0 0 8,459 8,459 Commercial real estate 313,178 0 1,592 311,006 312,598 Municipal 32,335 0 0 33,037 33,037 Residential real estate - 1st lien 185,575 0 122 176,002 176,124 Residential real estate - Jr lien 33,369 0 0 33,274 33,274 Consumer 3,422 0 0 3,446 3,446 MSRs (1) 897 0 1,295 0 1,295 Accrued interest receivable 2,651 0 2,651 0 2,651 Financial liabilities: Deposits Other deposits 871,660 0 869,244 0 869,244 Brokered deposits 249 0 231 0 231 Long-term borrowings 1,300 0 1,075 0 1,075 Repurchase agreements 31,235 0 31,235 0 31,235 Operating lease obligations 761 0 761 0 761 Finance lease obligations 3,752 0 3,752 0 3,752 Subordinated debentures 12,887 0 12,334 0 12,334 Accrued interest payable 51 0 51 0 51 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 109,574 0 0 110,284 110,284 Purchased loans 9,808 0 0 9,862 9,862 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)	6 Months Ended
	Jun. 30, 2022
Loan Servicing (Tables)
Schedule Of Mortgage Servicing Rights	Six Months Ended Year Ended June 30, 2022 December 31, 2021 Balance at beginning of year $ 897,720 $ 922,146 MSRs capitalized 77,676 147,328 MSRs amortized (78,695 ) (225,404 ) Change in valuation allowance 0 53,650 Balance at end of period $ 896,701 $ 897,720

Earnings per Common Share (Deta

Earnings per Common Share (Details) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings per Common Share
Net income	$ 3,021,152	$ 2,405,542	$ 3,046,406	$ 3,025,701	$ 5,426,694	$ 6,072,107
Less: Dividends To Preferred Shareholders	13,124		12,187		25,312	24,375
Net Income Available To Common Shareholders	$ 3,008,026		$ 3,034,219		$ 5,401,382	$ 6,047,732
Weighted Average Number Of Common Shares Used In Calculating Earnings Per Share	5,396,060		5,338,502		5,389,406	5,330,497
Earnings Per Common Share	$ 0.56		$ 0.57		$ 1	$ 1.13

Investment Securities (Details)

Investment Securities (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Amortized Cost	$ 208,371,852	$ 183,819,638
Gross Unrealized Gains	36,638	445,806
Gross Unrealized Losses	19,614,646	1,922,985
Fair Value	188,793,844	182,342,459
Other investments [Member]
Amortized Cost	4,453,000	6,438,000
Gross Unrealized Gains	21,641	142,199
Gross Unrealized Losses	46,762	4,394
Fair Value	4,427,879	6,575,805
ABS and OAS [Member]
Amortized Cost	3,401,782	2,131,610
Gross Unrealized Gains	0	82,414
Gross Unrealized Losses	146,881	0
Fair Value	3,254,901	2,214,024
Agency mortgage-backed securities (Agency MBS) [Member]
Amortized Cost	134,470,203	128,291,487
Gross Unrealized Gains	1,147	184,002
Gross Unrealized Losses	15,068,674	1,342,968
Fair Value	119,402,676	127,132,521
CMO [Member]
Amortized Cost	4,413,009	1,451,349
Gross Unrealized Gains	0	0
Gross Unrealized Losses	128,775	30,891
Fair Value	4,284,234	1,420,458
Taxable municipal securities
Amortized Cost	300,000	300,000
Gross Unrealized Gains	0	0
Gross Unrealized Losses	44,577	1,267
Fair Value	255,423	298,733
Tax-exempt municipal securities
Amortized Cost	7,883,149	830,279
Gross Unrealized Gains	13,850	1,167
Gross Unrealized Losses	736,794	67
Fair Value	7,160,205	831,379
U.S. Government securities [Member]
Amortized Cost	41,450,075	32,374,935
Gross Unrealized Gains	0	0
Gross Unrealized Losses	2,334,482	333,894
Fair Value	39,115,593	32,041,041
U.S. GSE debt securities [Member]
Amortized Cost	12,000,634	12,001,978
Gross Unrealized Gains	0	36,024
Gross Unrealized Losses	1,107,701	209,504
Fair Value	$ 10,892,933	$ 11,828,498

Investment Securities (Details

Investment Securities (Details 1) - U.S. GSE debt securities, Agency MBS, ABS and OAS, CMO and CDs [Member] - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Amortized Cost	$ 58,941,063	$ 63,045,599
Fair Value	$ 51,906,145	$ 62,256,702

Investment Securities (Detail_2

Investment Securities (Details 2) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Total, Fair Value	$ 188,793,844	$ 182,342,459
Available for sale Securities [Member]
Due In One Year Or Less, Amortized Cost	2,719,000	3,470,000
Due From One To Five Years, Amortized Cost	49,672,996	36,860,731
Due From Five To Ten Years, Amortized Cost	10,771,129	13,065,163
Due After Ten Years, Amortized Cost	10,738,524	2,132,257
Agency Mbs, Amortized Cost	134,470,203	128,291,487
Total, Amortized Cost	208,371,852	183,819,638
Due In One Year Or Less, Fair Value	2,729,538	3,508,582
Due From One To Five Years, Fair Value	47,002,889	36,619,130
Due From Five To Ten Years, Fair Value	9,863,949	12,942,726
Due After Ten Years, Fair Value	9,794,792	2,139,500
Agency Mbs, Fair Value	119,402,676	127,132,521
Total, Fair Value	$ 188,793,844	$ 182,342,459

Investment Securities (Detail_3

Investment Securities (Details 3)	Jun. 30, 2022 USD ($) integer	Dec. 31, 2021 USD ($) integer
Fair Value Less Than 12 Months	$ 151,691,407	$ 147,512,619
Unrealized Loss Less Than 12 Months	14,485,712	1,629,983
Fair Value 12 Months Or More	31,931,568	10,730,872
Unrealized Loss 12 Months Or More	$ 5,128,934	$ 293,002
Number Of Securities | integer	206	144
Fair Value	$ 183,622,975	$ 158,243,491
Unrealized Loss	19,614,646	1,922,985
U.S. GSE debt securities [Member]
Fair Value Less Than 12 Months	6,510,319	5,869,117
Unrealized Loss Less Than 12 Months	490,315	130,883
Fair Value 12 Months Or More	4,382,614	1,921,379
Unrealized Loss 12 Months Or More	$ 617,386	$ 78,621
Number Of Securities | integer	11	7
Fair Value	$ 10,892,933	$ 7,790,496
Unrealized Loss	1,107,701	209,504
Other investments [Member]
Fair Value Less Than 12 Months	696,238	491,606
Unrealized Loss Less Than 12 Months	46,762	4,394
Fair Value 12 Months Or More	0	0
Unrealized Loss 12 Months Or More	$ 0	$ 0
Number Of Securities | integer	3	2
Fair Value	$ 696,238	$ 491,606
Unrealized Loss	46,762	4,394
ABS and OAS [Member]
Fair Value Less Than 12 Months	3,254,901
Unrealized Loss Less Than 12 Months	146,881
Fair Value 12 Months Or More	0
Unrealized Loss 12 Months Or More	$ 0
Number Of Securities | integer	4
Fair Value	$ 3,254,901
Unrealized Loss	146,881
Agency mortgage-backed securities (Agency MBS) [Member]
Fair Value Less Than 12 Months	92,251,657	107,061,452
Unrealized Loss Less Than 12 Months	10,630,897	1,128,587
Fair Value 12 Months Or More	26,698,638	8,809,493
Unrealized Loss 12 Months Or More	$ 4,437,777	$ 214,381
Number Of Securities | integer	115	84
Fair Value	$ 118,950,295	$ 115,870,945
Unrealized Loss	15,068,674	1,342,968
CMO [Member]
Fair Value Less Than 12 Months	3,433,918	1,420,458
Unrealized Loss Less Than 12 Months	55,004	30,891
Fair Value 12 Months Or More	850,316	0
Unrealized Loss 12 Months Or More	$ 73,771	$ 0
Number Of Securities | integer	5	3
Fair Value	$ 4,284,234	$ 1,420,458
Unrealized Loss	128,775	30,891
U.S. Government securities
Fair Value Less Than 12 Months	39,115,593	32,041,041
Unrealized Loss Less Than 12 Months	2,334,482	333,894
Fair Value 12 Months Or More	0	0
Unrealized Loss 12 Months Or More	$ 0	$ 0
Number Of Securities | integer	54	46
Fair Value	$ 39,115,593	$ 32,041,041
Unrealized Loss	2,334,482	333,894
Taxable municipal securities
Fair Value Less Than 12 Months	255,423	298,733
Unrealized Loss Less Than 12 Months	44,577	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	$ 255,423	$ 298,733
Unrealized Loss	44,577	1,267
Tax-exempt municipal securities
Fair Value Less Than 12 Months	6,173,358	330,212
Unrealized Loss Less Than 12 Months	736,794	67
Fair Value 12 Months Or More	0	0
Unrealized Loss 12 Months Or More	$ 0	$ 0
Number Of Securities | integer	13	1
Fair Value	$ 6,173,358	$ 330,212
Unrealized Loss	$ 7	$ 67

Loans Allowance for Loan Loss_3

Loans Allowance for Loan Losses and Credit Quality (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Loans Allowance for Loan Losses and Credit Quality
Commercial & Industrial	$ 120,772,242	$ 111,125,622
Commercial Real Estate	318,083,654	300,958,931
Purchased loans	8,546,059	9,807,848
Municipal	32,399,252	47,955,231
Residential Real Estate - 1st Lien	186,106,141	181,316,345
Residential Real Estate - Jr Lien	33,557,360	34,359,864
Consumer	3,463,839	4,464,692
Total Loans	702,928,547	689,988,533
Deduct (add):
Allowance for loan losses	(8,232,773)	(7,710,256)
Deferred net loan cost (fees)	405,539	(37,972)
Net Loans	$ 695,101,313	$ 682,240,305

Loans Allowance for Loan Loss_4

Loans Allowance for Loan Losses and Credit Quality (Details 1) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
30-89 Days	$ 2,015,019	$ 2,135,203
90 Days Or More	2,132,038	3,095,765
Total Past Due	4,147,057	5,230,968
Current	698,781,490	684,757,565
Total Loans	702,928,547	689,988,533
Non-accrual Loans	4,858,365	5,940,629
90 Days Or More And Accruing	255,246	593,303
Commercial Real Estates [Member]
30-89 Days	921,424	49,450
90 Days Or More	1,591,576	2,400,514
Total Past Due	2,513,000	2,449,964
Current	315,570,654	298,508,967
Total Loans	318,083,654	300,958,931
Non-accrual Loans	3,395,197	4,517,839
90 Days Or More And Accruing	0	0
Residential real estate - 1st lien [Member]
30-89 Days	565,663	1,190,300
90 Days Or More	368,820	608,775
Total Past Due	934,483	1,799,075
Current	185,171,658	179,517,270
Total Loans	186,106,141	181,316,345
Non-accrual Loans	1,180,608	1,180,563
90 Days Or More And Accruing	166,733	506,827
Purchased Loan [Member]
30-89 Days	0	0
90 Days Or More	0	0
Total Past Due	0	0
Current	8,546,059	9,807,848
Total Loans	8,546,059	9,807,848
Non-accrual Loans	0	0
90 Days Or More And Accruing	0	0
Commercial & industrial [Member]
30-89 Days	204,378	833,875
90 Days Or More	83,129	0
Total Past Due	287,507	833,875
Current	120,484,735	110,291,747
Total Loans	120,772,242	111,125,622
Non-accrual Loans	145,810	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	32,399,252	47,955,231
Total Loans	32,399,252	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	308,326	51,837
90 Days Or More	88,513	86,476
Total Past Due	396,839	138,313
Current	33,160,521	34,221,551
Total Loans	33,557,360	34,359,864
Non-accrual Loans	136,750	143,566
90 Days Or More And Accruing	88,513	86,476
Consumer [Member]
30-89 Days	15,228	9,741
90 Days Or More	0	0
Total Past Due	15,228	9,741
Current	3,448,611	4,454,951
Total Loans	3,463,839	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)	Jun. 30, 2022 USD ($) integer	Dec. 31, 2021 USD ($) 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 | $	$ 268,260	$ 195,082

Loans Allowance for Loan Loss_6

Loans Allowance for Loan Losses and Credit Quality (Details 3) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Allowance For Loan Losses, Beginning Balance	$ 7,890,648	$ 7,468,288	$ 7,710,256	$ 7,208,485	$ 7,208,485
Charge-offs	(14,955)	(23,212)	(708,842)	(56,220)	(227,202)
Recoveries	19,580	6,680	31,359	31,994	104,808
Provision For Loan Losses	337,500	267,501	1,200,000	534,998	624,165
Allowance For Loan Losses, Ending Balance	8,232,773	7,719,257	8,232,773	7,719,257	7,710,256
Allowance For Loan Losses Evaluated For Impairment, Individually	102,062		102,062		79,978
Allowance For Loan Losses Evaluated For Impairment, Collectively	8,130,711		8,130,711		7,630,278
Total All Evaluted For Impairment			8,232,773		7,710,256
Loans Evaluated For Impairment, Individually	7,342,942		7,342,942		8,456,162
Loans Evaluated For Impairment, Collectively	695,585,605		695,585,605		681,532,371
Total, Loans Evaluted For Impairment			702,928,547		689,988,533
Commercial Real Estates [Member]
Allowance For Loan Losses, Beginning Balance	4,644,281	3,823,685	4,151,760	3,854,153	3,854,153
Charge-offs	0	0	(667,474)	0	(22,000)
Recoveries	0	0	0	7,000	27,160
Provision For Loan Losses	164,043	109,161	1,324,038	71,693	292,447
Allowance For Loan Losses, Ending Balance	4,808,324	3,932,846	4,808,324	3,932,846	4,151,760
Allowance For Loan Losses Evaluated For Impairment, Individually	0		0		0
Allowance For Loan Losses Evaluated For Impairment, Collectively	4,808,324		4,808,324		4,151,760
Total All Evaluted For Impairment			4,808,324		4,151,760
Loans Evaluated For Impairment, Individually	3,396,349		3,396,349		4,553,734
Loans Evaluated For Impairment, Collectively	314,687,305		314,687,305		296,405,197
Total, Loans Evaluted For Impairment			318,083,654		300,958,931
Residential real estate - 1st lien [Member]
Allowance For Loan Losses, Beginning Balance	1,814,457	1,667,594	1,765,892	1,735,304	1,735,304
Charge-offs	0	0	0	0	(98,704)
Recoveries	10,287	759	12,563	2,326	7,636
Provision For Loan Losses	20,764	(13,310)	67,053	(82,587)	121,656
Allowance For Loan Losses, Ending Balance	1,845,508	1,655,043	1,845,508	1,655,043	1,765,892
Allowance For Loan Losses Evaluated For Impairment, Individually	102,062		102,062		79,978
Allowance For Loan Losses Evaluated For Impairment, Collectively	1,743,446		1,743,446		1,685,914
Total All Evaluted For Impairment			1,845,508		1,765,892
Loans Evaluated For Impairment, Individually	3,718,383		3,718,383		3,720,503
Loans Evaluated For Impairment, Collectively	182,387,758		182,387,758		177,595,842
Total, Loans Evaluted For Impairment			186,106,141		181,316,345
Unallocated [Member]
Allowance For Loan Losses, Beginning Balance	90,276	761,913	539,117	398,913	398,913
Charge-offs	0	0	0	0	0
Recoveries	0	0	0	0	0
Provision For Loan Losses	40,506	150,507	(408,335)	513,507	140,204
Allowance For Loan Losses, Ending Balance	130,782	912,420	130,782	912,420	539,117
Allowance For Loan Losses Evaluated For Impairment, Individually	0		0		0
Allowance For Loan Losses Evaluated For Impairment, Collectively	130,782		130,782		539,117
Total All Evaluted For Impairment			130,782		539,117
Purchased Loan [Member]
Allowance For Loan Losses, Beginning Balance	63,631	81,389	68,655	64,260	64,260
Charge-offs	0	0	0	0	0
Recoveries	0	0	0	0	0
Provision For Loan Losses	(3,809)	(5,963)	(8,833)	11,166	4,395
Allowance For Loan Losses, Ending Balance	59,822	75,426	59,822	75,426	68,655
Allowance For Loan Losses Evaluated For Impairment, Individually	0		0		0
Allowance For Loan Losses Evaluated For Impairment, Collectively	59,822		59,822		68,655
Total All Evaluted For Impairment			59,822		68,655
Loans Evaluated For Impairment, Individually	0		0		0
Loans Evaluated For Impairment, Collectively	8,546,059		8,546,059		9,807,848
Total, Loans Evaluted For Impairment			8,546,059		9,807,848
Commercial & industrial [Member]
Allowance For Loan Losses, Beginning Balance	975,669	807,242	870,392	778,287	778,287
Charge-offs	(2,928)	0	(20,578)	(18,847)	(18,847)
Recoveries	2,454	0	2,454	4,761	4,761
Provision For Loan Losses	132,053	16,495	254,980	59,536	106,191
Allowance For Loan Losses, Ending Balance	1,107,248	823,737	1,107,248	823,737	870,392
Allowance For Loan Losses Evaluated For Impairment, Individually	0		0		0
Allowance For Loan Losses Evaluated For Impairment, Collectively	1,107,248		1,107,248		870,392
Total All Evaluted For Impairment			1,107,248		870,392
Loans Evaluated For Impairment, Individually	145,810		145,810		93,362
Loans Evaluated For Impairment, Collectively	120,626,432		120,626,432		111,032,260
Total, Loans Evaluted For Impairment			120,772,242		111,125,622
Municipal [Member]
Allowance For Loan Losses, Beginning Balance	87,589	83,531	76,728	82,211	82,211
Charge-offs	0	0	0	0	0
Recoveries	0	0	0	0	0
Provision For Loan Losses	(29,270)	(26,239)	(18,409)	(24,919)	(5,483)
Allowance For Loan Losses, Ending Balance	58,319	57,292	58,319	57,292	76,728
Allowance For Loan Losses Evaluated For Impairment, Individually	0		0		0
Allowance For Loan Losses Evaluated For Impairment, Collectively	58,319		58,319		76,728
Total All Evaluted For Impairment			58,319		76,728
Loans Evaluated For Impairment, Individually	0		0		0
Loans Evaluated For Impairment, Collectively	32,399,252		32,399,252		47,955,231
Total, Loans Evaluted For Impairment			32,399,252		47,955,231
Residential real estate - Jr lien [Member]
Allowance For Loan Losses, Beginning Balance	178,553	203,312	182,014	234,896	234,896
Charge-offs	0	0	0	0	0
Recoveries	1,220	432	2,430	960	10,821
Provision For Loan Losses	1,441	(2,475)	(3,230)	(34,587)	(63,703)
Allowance For Loan Losses, Ending Balance	181,214	201,269	181,214	201,269	182,014
Allowance For Loan Losses Evaluated For Impairment, Individually	0		0		0
Allowance For Loan Losses Evaluated For Impairment, Collectively	181,214		181,214		182,014
Total All Evaluted For Impairment			181,214		182,014
Loans Evaluated For Impairment, Individually	82,400		82,400		88,563
Loans Evaluated For Impairment, Collectively	33,474,960		33,474,960		34,271,301
Total, Loans Evaluted For Impairment			33,557,360		34,359,864
Consumer [Member]
Allowance For Loan Losses, Beginning Balance	36,192	39,622	55,698	60,461	60,461
Charge-offs	(12,027)	(23,212)	(20,790)	(37,373)	(87,651)
Recoveries	5,619	5,489	13,912	16,947	54,430
Provision For Loan Losses	11,772	39,325	(7,264)	21,189	28,458
Allowance For Loan Losses, Ending Balance	41,556	$ 61,224	41,556	$ 61,224	55,698
Allowance For Loan Losses Evaluated For Impairment, Individually	0		0		0
Allowance For Loan Losses Evaluated For Impairment, Collectively	41,556		41,556		55,698
Total All Evaluted For Impairment			41,556		55,698
Loans Evaluated For Impairment, Individually	0		0		0
Loans Evaluated For Impairment, Collectively	$ 3,463,839		3,463,839		4,464,692
Total, Loans Evaluted For Impairment			$ 3,463,839		$ 4,464,692

Loans Allowance for Loan Loss_7

Loans Allowance for Loan Losses and Credit Quality (Details 4) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Recorded Investment Allowance Recorded	$ 7,376,068	$ 6,593,865	$ 7,376,068	$ 6,593,865	$ 8,489,239
Unpaid Principal Balance Allowance Recorded	9,638,369	8,123,899	9,638,369	8,123,899	10,149,243
Related Allowance With An Allowance Recorded	102,062	98,736	102,062	98,736	79,978
Interest Income Recognized			121,332	148,328	387,912
Average Recorded Investment Allowance Recorded	7,673,245	6,616,444			7,355,724
Average recorded investment(1)(3), Total impaired loans			7,945,243	6,805,257
Residential real estate - Jr lien [Member]
Related Allowance With An Allowance Recorded	0	233	0	233	0
Recorded Investment With An Allowance Recorded	0	4,181	0	4,181	0
Unpaid Principal Balance With An Allowance Recorded	0	4,174	0	4,174	0
Recorded Investment With No Related Allowance Recorded	82,405	135,745	82,405	135,745	88,570
Unpaid Principal Balance With No Related Allowance Recorded	128,821	179,768	128,821	179,768	132,802
Average recorded investment(1)(3), related allowance recorded			0	4,475
Average Recorded Investment With An Allowance Recorded	0	4,323			3,452
Interest Income Recognized With An Allowance Recorded			100	228	243
Interest Income Recognized With No Related Allowance Recorded			71	0	186
Average recorded investment(1)(3), no related allowance recorded			85,557	134,964
Average Recorded Investment With No Related Allowance Recorded	84,051	137,307			124,803
Commercial Loan [Member]
Recorded Investment With No Related Allowance Recorded	145,810	382,207	145,810	382,207	93,362
Unpaid Principal Balance With No Related Allowance Recorded	181,929	452,976	181,929	452,976	115,414
Interest Income Recognized With No Related Allowance Recorded			204	204	204
Average recorded investment(1)(3), no related allowance recorded			153,803	405,816
Average Recorded Investment With No Related Allowance Recorded	184,023	401,591			290,181
Commercial Real Estates [Member]
Recorded Investment With No Related Allowance Recorded	3,396,482	1,880,489	3,396,482	1,880,489	4,554,074
Unpaid Principal Balance With No Related Allowance Recorded	4,548,768	2,369,692	4,548,768	2,369,692	5,108,557
Interest Income Recognized With No Related Allowance Recorded			1,492	4,299	120,996
Average recorded investment(1)(3), no related allowance recorded			3,887,955	1,823,474
Average Recorded Investment With No Related Allowance Recorded	3,554,895	1,763,205			2,747,193
Residential real estate - 1st lien [Member]
Related Allowance With An Allowance Recorded	102,062	98,503	102,062	98,503	79,978
Recorded Investment With An Allowance Recorded	1,011,645	819,752	1,011,645	819,752	702,586
Unpaid Principal Balance With An Allowance Recorded	1,033,657	826,472	1,033,657	826,472	716,118
Recorded Investment With No Related Allowance Recorded	2,739,726	3,371,491	2,739,726	3,371,491	3,050,647
Unpaid Principal Balance With No Related Allowance Recorded	3,745,194	4,290,817	3,745,194	4,290,817	4,076,352
Average recorded investment(1)(3), related allowance recorded			942,448	945,427
Average Recorded Investment With An Allowance Recorded	1,062,379	967,850			858,124
Interest Income Recognized With An Allowance Recorded			26,957	32,518	60,769
Interest Income Recognized With No Related Allowance Recorded			92,508	111,079	205,514
Average recorded investment(1)(3), no related allowance recorded			2,875,480	3,491,101
Average Recorded Investment With No Related Allowance Recorded	2,787,897	3,342,168			3,331,971
Total Related Allowance
Related Allowance With An Allowance Recorded	102,062	98,736	102,062	98,736	79,978
Recorded Investment With An Allowance Recorded	1,011,645	823,933	1,011,645	823,933	702,586
Unpaid Principal Balance With An Allowance Recorded	1,033,657	830,646	1,033,657	830,646	716,118
Average recorded investment(1)(3), related allowance recorded			942,448	949,902
Average Recorded Investment With An Allowance Recorded	1,062,379	972,173			861,576
Interest Income Recognized With An Allowance Recorded			27,057	32,746	61,012
Total No Related Allowance
Recorded Investment With No Related Allowance Recorded	6,364,423	5,769,932	6,364,423	5,769,932	7,786,653
Unpaid Principal Balance With No Related Allowance Recorded	8,604,712	7,293,253	8,604,712	7,293,253	9,433,125
Interest Income Recognized With No Related Allowance Recorded			94,275	115,582	326,900
Average recorded investment(1)(3), no related allowance recorded			$ 7,002,795	$ 5,855,355
Average Recorded Investment With No Related Allowance Recorded	$ 6,610,866	$ 5,644,271			$ 6,494,148

Loans Allowance for Loan Loss_8

Loans Allowance for Loan Losses and Credit Quality (Details 5) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Group A	$ 678,361,671	$ 667,382,286
Group B	8,866,210	7,243,419
Group C	15,700,666	15,362,828
Total Loans	702,928,547	689,988,533
Commercial Real Estates [Member]
Group A	306,949,429	285,732,365
Group B	2,452,233	6,550,335
Group C	8,681,992	8,676,231
Total Loans	318,083,654	300,958,931
Residential real estate - 1st lien [Member]
Group A	182,569,741	177,456,149
Group B	0	0
Group C	3,536,400	3,860,196
Total Loans	186,106,141	181,316,345
Purchased Loan [Member]
Group A	8,546,059	9,807,848
Group B	0	0
Group C	0	0
Total Loans	8,546,059	9,807,848
Commercial & industrial [Member]
Group A	111,341,511	107,799,925
Group B	6,413,977	693,084
Group C	3,016,754	2,632,613
Total Loans	120,772,242	111,125,622
Municipal [Member]
Group A	32,399,252	47,955,231
Group B	0	0
Group C	0	0
Total Loans	32,399,252	47,955,231
Residential real estate - Jr lien [Member]
Group A	33,091,840	34,166,076
Group B	0	0
Group C	465,520	193,788
Total Loans	33,557,360	34,359,864
Consumer [Member]
Group A	3,463,839	4,464,692
Group B	0	0
Group C	0	0
Total Loans	$ 3,463,839	$ 4,464,692

Loans Allowance for Loan Loss_9

Loans Allowance for Loan Losses and Credit Quality (Details 6)	6 Months Ended		12 Months Ended
	Jun. 30, 2022 USD ($) integer	Jun. 30, 2021 USD ($) integer	Dec. 31, 2021 USD ($) 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)	12 Months Ended
	Jun. 30, 2022 USD ($) integer	Dec. 31, 2021 USD ($) integer	Jun. 30, 2021 USD ($) integer
Number Of Contracts | integer		3
Recorded Investment | $		$ 3,119,811
Commercial & industrial [Member]
Number Of Contracts | integer		1	1
Recorded Investment | $		$ 38,001	$ 39,876
Commercial Real Estate [Member]
Number Of Contracts | integer	2	2
Recorded Investment | $	$ 2,412,179	$ 3,081,810

Loans Allowance for Loan Los_11

Loans Allowance for Loan Losses and Credit Quality (Details 8) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Loans Allowance for Loan Losses and Credit Quality
Specific Allocation	$ 102,062	$ 79,978

Loans Allowance for Loan Los_12

Loans Allowance for Loan Losses and Credit Quality (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021
Loans Allowance for Loan Losses and Credit Quality
Modified loans related to covid-19	$ 93,700,000
Accrued Interest Receivable And Deferred Net Loan Costs	33,126	$ 33,077	$ 37,535
Non-accrual status or TDRs regardless of amount	$ 100,000

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Details Narrative) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Goodwill	$ 11,574,269	$ 11,574,269
LyndonBank [Member]
Goodwill	$ 11,574,269

Fair Value (Details)

Fair Value (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Assets Recorded At Fair Value On A Recurring Basis	$ 188,793,844	$ 182,342,459
Fair Value Level 1 | U.S. Government securities
Assets Recorded At Fair Value On A Recurring Basis	39,115,593	32,041,041
Fair Value Level 2
Assets Recorded At Fair Value On A Recurring Basis	149,678,251	150,301,418
Fair Value Level 2 | Other investments [Member]
Assets Recorded At Fair Value On A Recurring Basis	4,427,879	6,575,805
Fair Value Level 2 | Taxable municipal securities
Assets Recorded At Fair Value On A Recurring Basis	255,423	298,733
Fair Value Level 2 | Tax-exempt municipal securities
Assets Recorded At Fair Value On A Recurring Basis	7,160,205	831,379
Fair Value Level 2 | U.S. GSE debt securities
Assets Recorded At Fair Value On A Recurring Basis	10,892,933	11,828,498
Fair Value Level 2 | Agency MBS
Assets Recorded At Fair Value On A Recurring Basis	119,402,676	127,132,521
Fair Value Level 2 | ABS and OAS
Assets Recorded At Fair Value On A Recurring Basis	3,254,901	2,214,024
Fair Value Level 2 | CMO [Member]
Assets Recorded At Fair Value On A Recurring Basis	$ 4,284,234	$ 1,420,458

Fair Value (Details 1)

Fair Value (Details 1) - Fair Value Level 2 - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Impaired Loans, Net Of Related Allowance	$ 1,743,115	$ 177,523
Loans Held-for-sale	821,500	339,000
Msrs	$ 896,701	$ 897,720

Fair Value (Details 2)

Fair Value (Details 2) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Fair Value Level 2
Cash And Cash Equivalents	$ 0	$ 0
Debt Securities Afs	149,678	150,301
Restricted Equity Securities	1,391	1,434
Commercial & Industrial	29	0
Commercial Real Estate	1,592	29
Purchase Loan	0	0
Municipal	0	0
Residential Real Estate - 1st Lien	122	149
Residential Real Estate - Jr Lien	0	0
Consumer	0	0
Msrs (1)	1,295	995
Accrued Interest Receivable	2,651	2,401
Other Deposits	869,244	879,545
Brokered Deposits	231	246
Long-term Borrowings	1,075	1,179
Repurchase Agreements	31,235	32,610
Operating Lease Obligations	761	864
Finance Lease Obligations	3,752	3,858
Subordinated Debentures	12,334	12,868
Accrued Interest Payable	51	59
Fair Value Level 1
Cash And Cash Equivalents	67,068	110,359
Debt Securities Afs	39,116	32,041
Restricted Equity Securities	0	0
Commercial & Industrial	0	0
Commercial Real Estate	0	0
Purchase Loan	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	119,577	110,284
Commercial Real Estate	311,006	297,339
Purchase Loan	8,459	9,862
Municipal	33,037	49,419
Residential Real Estate - 1st Lien	176,002	180,302
Residential Real Estate - Jr Lien	33,274	34,189
Consumer	3,446	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	67,068	110,359
Debt Securities Afs	188,794	182,342
Restricted Equity Securities	1,391	1,434
Commercial & Industrial	119,559	109,574
Commercial Real Estate	313,178	296,528
Purchase Loan	8,485	9,808
Municipal	32,335	47,841
Residential Real Estate - 1st Lien	185,575	180,271
Residential Real Estate - Jr Lien	33,369	34,151
Consumer	3,422	4,406
Msrs (1)	897	898
Accrued Interest Receivable	2,651	2,401
Other Deposits	871,660	879,151
Brokered Deposits	249	249
Long-term Borrowings	1,300	1,300
Repurchase Agreements	31,235	32,610
Operating Lease Obligations	761	864
Finance Lease Obligations	3,752	3,858
Subordinated Debentures	12,887	12,887
Accrued Interest Payable	51	59
Fair Value
Cash And Cash Equivalents	67,068	110,359
Debt Securities Afs	188,794	182,342
Restricted Equity Securities	1,391	1,434
Commercial & Industrial	119,606	110,284
Commercial Real Estate	312,598	297,368
Purchase Loan	8,459	9,862
Municipal	33,037	49,419
Residential Real Estate - 1st Lien	176,124	180,451
Residential Real Estate - Jr Lien	33,274	34,189
Consumer	3,446	4,436
Msrs (1)	1,295	995
Accrued Interest Receivable	2,651	2,401
Other Deposits	869,244	879,545
Brokered Deposits	231	246
Long-term Borrowings	1,075	1,179
Repurchase Agreements	31,235	32,610
Operating Lease Obligations	761	864
Finance Lease Obligations	3,752	3,858
Subordinated Debentures	12,334	12,868
Accrued Interest Payable	$ 51	$ 59

Loan Servicing (Details)

Loan Servicing (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Loan Servicing
Balance At Beginning Of Year	$ 897,720	$ 922,146
Msrs Capitalized	77,676	147,328
Msrs Amortized	(78,695)	(225,404)
Change In Valuation Allowance	0	53,650
Balance At End Of Year	$ 896,701	$ 897,720

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - $ / shares	1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 15, 2022	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Subsequent Events
Dividends Declared Per Common Share	$ 0.23	$ 0.23	$ 0.22	$ 0.46	$ 0.44