Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Mar. 15, 2019 | Jun. 30, 2018 | |
Document Information [Line Items] | |||
Entity Registrant Name | Colony Bankcorp Inc | ||
Entity Central Index Key | 0000711669 | ||
Trading Symbol | cban | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Common Stock, Shares Outstanding (in shares) | 8,444,908 | ||
Entity Public Float | $ 115,085,012 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Year Focus | 2018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and Due from Banks | $ 10,376,876 | $ 23,145,136 |
Interest-Bearing Deposits | 49,778,576 | 34,667,715 |
Investment Securities | ||
Available for Sale, at Fair Value | 353,066,166 | 354,246,904 |
Federal Home Loan Bank Stock, at Cost | 2,977,900 | 3,042,900 |
Loans | 782,027,368 | 765,283,855 |
Allowance for Loan Losses | (7,276,806) | (7,507,508) |
Unearned Interest and Fees | (501,300) | (495,500) |
774,249,262 | 757,280,847 | |
Premises and Equipment | 28,831,272 | 27,639,430 |
Other Real Estate (Net of Allowance of $876,177 and $1,451,492 in 2018 and 2017, Respectively) | 1,840,743 | 4,256,469 |
Goodwill | 202,244 | |
Other Intangible Assets | 556,573 | 44,766 |
Other Assets | 29,998,856 | 28,431,150 |
Total Assets | 1,251,878,468 | 1,232,755,317 |
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||
Noninterest-Bearing | 192,847,392 | 190,927,928 |
Interest-Bearing | 892,278,066 | 877,057,477 |
1,085,125,458 | 1,067,985,405 | |
Borrowed Money | ||
Subordinated Debentures | 24,229,000 | 24,229,000 |
Other Borrowed Money | 44,000,000 | 47,500,000 |
68,229,000 | 71,729,000 | |
Other Liabilities | 2,831,615 | 2,718,249 |
Commitments and Contingencies | ||
Stockholders’ Equity | ||
Common Stock, Par Value $1; 20,000,000 Shares Authorized, 8,444,908 and 8,439,258 Shares Issued and Outstanding as of December 31, 2018 and 2017, respectively | 8,444,908 | 8,439,258 |
Paid-In Capital | 25,978,334 | 29,145,094 |
Retained Earnings | 69,459,243 | 59,230,260 |
Accumulated Other Comprehensive Loss, Net of Tax | (8,190,090) | (6,491,949) |
95,692,395 | 90,322,663 | |
Total Liabilities and Stockholders’ Equity | $ 1,251,878,468 | $ 1,232,755,317 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Other Real Estate, Allowance | $ 876,177 | $ 1,451,492 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 20,000,000 | 20,000,000 |
Common stock, shares issued (in shares) | 8,444,908 | 8,439,258 |
Common stock, shares outstanding (in shares) | 8,444,908 | 8,439,258 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Interest Income | |||
Loans, Including Fees | $ 40,681,853 | $ 38,613,540 | $ 38,942,503 |
Federal Funds Sold | 3 | ||
Deposits with Other Banks | 409,732 | 232,397 | 124,459 |
Investment Securities: | |||
U.S. Government Agencies | 7,528,962 | 6,717,827 | 5,263,741 |
State, County and Municipal | 102,719 | 115,097 | 127,379 |
Corporate | 111,763 | 87,387 | |
Dividends on Other Investments | 187,117 | 150,172 | 131,007 |
49,022,146 | 45,916,423 | 44,589,089 | |
Interest Expense | |||
Deposits | 6,057,066 | 4,758,073 | 4,781,228 |
Federal Funds Purchased | 5,305 | 2,639 | 581 |
Borrowed Money | 2,163,148 | 2,112,017 | 1,701,522 |
8,225,519 | 6,872,729 | 6,483,331 | |
Net Interest Income | 40,796,627 | 39,043,694 | 38,105,758 |
Provision for Loan Losses | 200,500 | 390,000 | 1,062,000 |
Net Interest Income After Provision for Loan Losses | 40,596,127 | 38,653,694 | 37,043,758 |
Noninterest Income | |||
Securities Gains (Losses) | 115,909 | 385,223 | |
Other | 1,225,660 | 1,360,309 | 1,376,860 |
9,621,330 | 9,734,565 | 9,553,754 | |
Noninterest Expenses | |||
Salaries and Employee Benefits | 20,122,843 | 19,222,594 | 18,482,693 |
Occupancy and Equipment | 4,180,396 | 3,947,941 | 3,970,244 |
Directors’ Fees | 291,400 | 298,100 | 348,755 |
Legal and Professional Fees | 1,320,653 | 1,169,938 | 1,067,563 |
Foreclosed Property | 204,705 | 363,519 | 1,143,518 |
FDIC Assessment | 358,222 | 386,823 | 603,654 |
Advertising | 337,527 | 349,722 | 609,892 |
Software and Data Processing | 1,420,482 | 1,192,025 | 1,112,065 |
Telephone | 738,193 | 813,592 | 737,063 |
ATM/Card Processing | 1,510,322 | 1,467,411 | 1,136,122 |
Other | 4,815,044 | 4,648,163 | 4,861,400 |
35,299,787 | 33,859,828 | 34,072,969 | |
Income Before Income Taxes | 14,917,670 | 14,528,431 | 12,524,543 |
Income Taxes | 3,000,270 | 6,777,453 | 3,851,333 |
Net Income | 11,917,400 | 7,750,978 | 8,673,210 |
Preferred Stock Dividends | 210,600 | 1,493,310 | |
Net Income Available to Common Stockholders | $ 11,917,400 | $ 7,540,378 | $ 7,179,900 |
Net Income Per Share of Common Stock | |||
Basic (in dollars per share) | $ 1.41 | $ 0.89 | $ 0.85 |
Diluted (in dollars per share) | 1.40 | 0.87 | 0.84 |
Cash Dividends Declared Per Share of Common Stock (in dollars per share) | $ 0.20 | $ 0.10 | $ 0 |
Weighted Average Shares Outstanding, Basic (in shares) | 8,439,454 | 8,439,258 | 8,439,258 |
Weighted Average Shares Outstanding, Diluted (in shares) | 8,538,608 | 8,633,581 | 8,513,295 |
Deposit Account [Member] | |||
Noninterest Income | |||
Non interest revenue from banking services | $ 4,373,854 | $ 4,466,997 | $ 4,307,214 |
Bank Servicing [Member] | |||
Noninterest Income | |||
Non interest revenue from banking services | 3,253,922 | 3,048,601 | 2,802,651 |
Mortgage Banking [Member] | |||
Noninterest Income | |||
Non interest revenue from banking services | $ 651,985 | $ 858,658 | $ 681,806 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net Income | $ 11,917,400 | $ 7,750,978 | $ 8,673,210 |
Other Comprehensive Income (Loss) | |||
Gains (Losses) on Securities Arising During the Year | (2,033,636) | (608,355) | (505,367) |
Tax Effect | 427,063 | 206,841 | 171,825 |
Realized (Gains) Losses on Sale of AFS Securities | (115,909) | (385,223) | |
Tax Effect | 24,341 | 130,976 | |
Change in Unrealized Gains (Losses) on Securities Available for Sale, Net of Reclassification Adjustment and Tax Effects | (1,698,141) | (401,514) | (587,789) |
Comprehensive Income | $ 10,219,259 | $ 7,349,464 | $ 8,085,421 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2015 | 18,021 | 8,439,258 | ||||
Beginning Balance at Dec. 31, 2015 | $ 18,021,000 | $ 8,439,258 | $ 29,145,094 | $ 44,285,621 | $ (4,434,351) | $ 95,456,622 |
Change in Unrealized Gains (Losses) on Securities Available for Sale, Net of Reclassification Adjustment and Tax Effects | (587,789) | (587,789) | ||||
Dividends on Preferred Shares | (1,493,310) | (1,493,310) | ||||
Redemption of Preferred Stock (in shares) | (8,661) | |||||
Redemption of Preferred Stock | $ (8,661,000) | (8,661,000) | ||||
Net Income | 8,673,210 | 8,673,210 | ||||
Balance (in shares) at Dec. 31, 2016 | 9,360 | 8,439,258 | ||||
Ending Balance at Dec. 31, 2016 | $ 9,360,000 | $ 8,439,258 | 29,145,094 | 51,465,521 | (5,022,140) | 93,387,733 |
Change in Unrealized Gains (Losses) on Securities Available for Sale, Net of Reclassification Adjustment and Tax Effects | (401,514) | (401,514) | ||||
Dividends on Preferred Shares | (210,600) | (210,600) | ||||
Redemption of Preferred Stock (in shares) | (9,360) | |||||
Redemption of Preferred Stock | $ (9,360,000) | (9,360,000) | ||||
Net Income | 7,750,978 | 7,750,978 | ||||
Dividends on Common Shares | (843,934) | (843,934) | ||||
TCJ Act Reclassification | 1,068,295 | (1,068,295) | ||||
Balance (in shares) at Dec. 31, 2017 | 8,439,258 | |||||
Ending Balance at Dec. 31, 2017 | $ 8,439,258 | 29,145,094 | 59,230,260 | (6,491,949) | 90,322,663 | |
Change in Unrealized Gains (Losses) on Securities Available for Sale, Net of Reclassification Adjustment and Tax Effects | (1,698,141) | (1,698,141) | ||||
Net Income | 11,917,400 | 11,917,400 | ||||
Dividends on Common Shares | (1,688,417) | (1,688,417) | ||||
Issuance of Restricted Stock (in shares) | 5,650 | |||||
Issuance of Restricted Stock | $ 5,650 | (5,650) | ||||
Stock-based Compensation Expense | 13,890 | 13,890 | ||||
Repurchase of Warrants | (3,175,000) | (3,175,000) | ||||
Balance (in shares) at Dec. 31, 2018 | 8,444,908 | |||||
Ending Balance at Dec. 31, 2018 | $ 8,444,908 | $ 25,978,334 | $ 69,459,243 | $ (8,190,090) | $ 95,692,395 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Cash Flows from Operating Activities | |||
Net Income | $ 11,917,400 | $ 7,750,978 | $ 8,673,210 |
Adjustments to Reconcile Net Income to Net Cash Provided from Operating Activities | |||
Depreciation | 1,786,652 | 1,647,813 | 1,574,249 |
Amortization and Accretion | 1,176,224 | 1,449,111 | 1,645,088 |
Provision for Loan Losses | 200,500 | 390,000 | 1,062,000 |
Share-based Compensation Expense | 13,890 | ||
Deferred Income Taxes | 273,176 | 2,833,958 | 222,120 |
Securities (Gains) Losses | (115,909) | (385,223) | |
(Gain) Loss on Sale of Premises and Equipment | (305) | (10,735) | 80,329 |
(Gain) Loss on Sale of Other Real Estate and Repossessions | (309,077) | (208,329) | 160,682 |
Provision for Losses on Other Real Estate | 262,041 | 333,767 | 501,736 |
Increase in Cash Surrender Value of Life Insurance | (508,946) | (1,669,424) | (589,408) |
Provision for Losses on Premises & Equipment | 172,143 | ||
Change In | |||
Interest Receivable | (217,491) | (90,204) | 176,766 |
Prepaid Expenses | 266,806 | 139,382 | (372,380) |
Interest Payable | 38,573 | 21,188 | (46,284) |
Accrued Expenses and Accounts Payable | 1,418 | 361,005 | (252,617) |
Other | (45,858) | (403,375) | 938,223 |
14,911,237 | 12,545,135 | 13,388,491 | |
Cash Flows from Investing Activities | |||
Interest-Bearing Deposits in Other Banks | (15,110,861) | 11,677,144 | (7,729,560) |
Purchase of Investment Securities Available for Sale | (63,682,791) | (87,160,178) | (109,634,793) |
Proceeds from Sale of Investment Securities Available for Sale | 11,267,642 | 0 | 25,209,851 |
Proceeds from Maturities, Calls and Paydowns of Investment Securities Available for Sale | 50,422,396 | 54,587,986 | 54,868,726 |
Proceeds from Sale of Premises and Equipment | 22,581 | 37,650 | 89,551 |
Net Loans to Customers | 2,395,928 | (14,459,526) | (2,167,126) |
Purchase of Premises and Equipment | (2,762,585) | (1,344,898) | (3,259,859) |
Proceeds from Sale of Other Real Estate and Repossessions | 3,002,508 | 3,863,576 | 7,529,131 |
Proceeds from Sale of Federal Home Loan Bank Stock | 65,000 | ||
Purchase of Federal Home Loan Bank Stock | (32,900) | (279,500) | |
Net Cash and Cash Equivalents Paid in Acquisition | (10,043,452) | ||
(24,423,634) | (32,831,146) | (35,373,579) | |
Cash Flows from Financing Activities | |||
Interest-Bearing Customer Deposits | (445,146) | (8,240,418) | 7,629,930 |
Noninterest-Bearing Customer Deposits | 5,552,700 | 31,869,295 | 25,172,362 |
Proceeds from Other Borrowed Money | 44,007,500 | 10,015,500 | 10,000,000 |
Principal Payments on Other Borrowed Money | (47,507,500) | (8,515,500) | (4,000,000) |
Dividends Paid on Preferred Stock | (315,900) | (1,590,746) | |
Redemption of Preferred Stock | (9,360,000) | (8,661,000) | |
Repurchase of Warrants | (3,175,000) | ||
Dividends Paid on Common Stock | (1,688,417) | (843,934) | |
(3,255,863) | 14,609,043 | 28,550,546 | |
Net Increase (Decrease) in Cash and Cash Equivalents | (12,768,260) | (5,676,968) | 6,565,458 |
Cash and Cash Equivalents, Beginning | 23,145,136 | 28,822,104 | 22,256,646 |
Cash and Cash Equivalents, Ending | $ 10,376,876 | $ 23,145,136 | $ 28,822,104 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | ( 1 Summary of Significant Accounting Policies Principles of Consolidation Colony Bankcorp, Inc. (the Company) is a bank holding company located in Fitzgerald, Georgia. The consolidated financial statements include the accounts of Colony Bankcorp, Inc. and its wholly-owned subsidiary, Colony Bank, Fitzgerald, Georgia. All significant intercompany accounts have been eliminated in consolidation. The accounting and reporting policies of Colony Bankcorp, Inc. conform to generally accepted accounting principles and practices utilized in the commercial banking industry. Nature of Operations The Company provides a full range of retail and commercial banking services for consumers and small- to medium-size businesses located primarily in central, south and coastal Georgia. Colony Bank is headquartered in Fitzgerald, Georgia with banking offices in Albany, Ashburn, Broxton, Centerville, Columbus, Cordele, Douglas, Eastman, Fitzgerald, Leesburg, Moultrie, Quitman, Rochelle, Savannah, Soperton, Statesboro, Sylvester, Thomaston, Tifton, Valdosta and Warner Robins. Lending and investing activities are funded primarily by deposits gathered through its retail banking office network. Use of Estimates In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the balance sheet date and revenues and expenses for the period. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses and the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans. Reclassifications In certain instances, amounts reported in prior years’ consolidated financial statements and note disclosures have been reclassified to conform to statement presentations selected for 2018. no Concentrations of Credit Risk Concentrations of credit risk can exist in relation to individual borrowers or groups of borrowers, certain types of collateral, certain types of industries or certain geographic regions. The Company has a concentration in real estate loans as well as a geographic concentration that could pose an adverse credit risk, particularly if an economic downturn occurred in the real estate market. At December 31, 2018, 88 The success of the Company is dependent, to a certain extent, upon the economic conditions in the geographic markets it serves. Adverse changes in the economic conditions in these geographic markets would likely have a material adverse effect on the Company’s results of operations and financial condition. The operating results of the Company depend primarily on its net interest income. Accordingly, operations are subject to risks and uncertainties surrounding the exposure to changes in the interest rate environment. At times, the Company may Investment Securities The Company classifies its investment securities as trading, available for sale or held to maturity. Securities that are held principally for resale in the near term are classified as trading. Trading securities are carried at fair value, with realized and unrealized gains and losses included in noninterest income. Currently, no not may The Company evaluates each held to maturity and available for sale security in a loss position for other-than-temporary impairment (OTTI). In estimating other-than-temporary impairment losses, management considers such factors as the length of time and the extent to which the market value has been below cost, the financial condition of the issuer and the Company’s intent to sell and whether it is more likely than not not not not not Federal Home Loan Bank Stock Investment in stock of a Federal Home Loan Bank (FHLB) is required for every federally insured institution that utilizes its services. FHLB stock is considered restricted, as defined in the accounting standards. The FHLB stock is reported in the consolidated financial statements at cost. Dividend income is recognized when earned. Loans Loans that the Company has the ability and intent to hold for the foreseeable future or until maturity are recorded at their principal amount outstanding, net of unearned interest and fees. Loan origination fees, net of certain direct origination costs, are deferred and amortized over the estimated terms of the loans using the straight-line method. Interest income on loans is recognized using the effective interest method. A loan is considered to be delinquent when payments have not When management believes there is sufficient doubt as to the collectibility of principal or interest on any loan or generally when loans are 90 no Loans Modified in a Troubled Debt Restructuring (TDR) Loans are considered to have been modified in a TDR when, due to a borrower’s financial difficulty, the Company makes certain concessions to the borrower that it would not may six may A llowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectibility of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may The allowance consists of specific, historical and general components. The specific component relates to loans that are classified as either doubtful, substandard or special mention. For such loans that are also classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan are lower than the carrying value of that loan. The historical component covers nonclassified loans and is based on historical loss experience adjusted for qualitative factors. A general component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The general component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and historical losses in the portfolio. General valuation allowances are based on internal and external qualitative risk factors such as ( 1 2 3 4 5 6 7 8 9 Loans identified as losses by management, internal loan review and/or Bank examiners are charged off. A loan is considered impaired when, based on current information and events, 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 the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not A significant portion of the Company’s impaired loans are deemed to be collateral dependent. Management therefore measures impairment on these loans based on the fair value of the collateral. Collateral values are determined based on appraisals performed by qualified licensed appraisers hired by the Company or by senior members of the Company’s credit administration staff. The decision whether to obtain an external third may third may 10 may not may Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are typically significant and result in a level 3 Premises and Equipment Premises and equipment are recorded at acquisition cost net of accumulated depreciation. Depreciation is charged to operations over the estimated useful lives of the assets. The estimated useful lives and methods of depreciation are as follows: Description Life in Years Method Banking Premises 15 - 40 Straight-Line and Accelerated Furniture and Equipment 5 - 10 Straight-Line and Accelerated Expenditures for major renewals and betterments are capitalized. Maintenance and repairs are charged to operations as incurred. When property and equipment are retired or sold, the cost and accumulated depreciation are removed from the respective accounts and any gain or loss is reflected in other income or expense. Goodwill Goodwill represents the excess of the cost of businesses acquired over the fair value of the net assets acquired. Goodwill is assigned to reporting units and tested for impairment at least annually, or on an interim basis if an event occurs or circumstances change that would more likely than not Other Intangible Assets Intangible assets consist of core deposit intangibles acquired in connection with a business combination. The core deposit intangible is initially recognized based on an independent valuation performed as of the consummation date. The core deposit intangible is amortized by the straight-line method over the average remaining life of the acquired customer deposits. Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when ( 1 2 3 not Statement of Cash Flows For reporting cash flows, cash and cash equivalents include cash on hand, noninterest-bearing amounts due from banks, federal funds sold and securities purchased under agreement to resell. Cash flows from demand deposits, interest-bearing checking accounts, savings accounts, loans and certificates of deposit are reported net. Advertising Costs The Company expenses the cost of advertising in the periods in which those costs are incurred. Income Taxes The provision for income taxes is based upon income for financial statement purposes, adjusted for nontaxable income and nondeductible expenses. Deferred income taxes have been provided when different accounting methods have been used in determining income for income tax purposes and for financial reporting purposes. Deferred tax assets and liabilities are recognized based on future tax consequences attributable to differences arising from the financial statement carrying values of assets and liabilities and their tax basis. The differences relate primarily to depreciable assets (use of different depreciation methods for financial statement and income tax purposes) and allowance for loan losses (use of the allowance method for financial statement purposes and the direct write-off method for tax purposes). In the event of changes in the tax laws, deferred tax assets and liabilities are adjusted in the period of the enactment of those changes, with effects included in the income tax provision. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not not The Company’s federal and state income tax returns for tax years 2018, 2017, 2016 2015 three Positions taken in the Company’s tax returns may not 50 may first Other Real Estate Other real estate generally represents real estate acquired through foreclosure and is initially recorded at estimated fair value at the date of acquisition less the cost of disposal. Losses from the acquisition of property in full or partial satisfaction of debt are recorded as loan losses. Properties are evaluated regularly to ensure the recorded amounts are supported by current fair values, and valuation allowances are recorded as necessary to reduce the carrying amount to fair value less estimated cost of disposal. Routine holding costs and gains or losses upon disposition are included in foreclosed property expense. Bank-Owned Life Insurance The Company has purchased life insurance on the lives of certain key members of management and directors. The life insurance policies are recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or amounts due that are probable at settlement, if applicable. Increases in the cash surrender value are recorded as other income in the consolidated statements of income. The cash surrender value of the insurance contracts is recorded in other assets on the consolidated balance sheets in the amount of $17,597,639 $17,088,693 December 31, 2018 2017, Comprehensive Income Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Certain changes in assets and liabilities, such as unrealized gains and losses on securities available for sale, represent equity changes from economic events of the period other than transactions with owners. Such items are considered components of other comprehensive income (loss). Accounting standards codification requires the presentation in the consolidated financial statements of net income and all items of other comprehensive income (loss) as total comprehensive income (loss). Off-Balance Sheet Credit Related Financial Instruments In the ordinary course of business, the Company has entered into commitments to extend credit, commercial letters of credit and standby letters of credit. Such financial instruments are recorded on the consolidated balance sheets when they are funded. Changes in Accounting Principles and Effects of New Accounting Pronouncements ASU 2014 09, Revenue from Contracts with Customers (Topic 606 January 1, 2018, 2014 09 606 1 2 606. 606 606 December 31, 2017 2016. December 31, 2018, 606 not no 26 606. ASU 2016 01, Financial Instruments – Overall (Subtopic 825 10 2016 01, 2016 01 January 1, 2018. not ASU 2016 02, Leases (Topic 842 . December 15, 2018, ASU 2016 13, Financial Instruments – Credit Losses (Topic 326 December 15, 2019, ASU 2016 15 , Statement of Cash Flows (Topic 230 2016 15 2016 15 January 1, 2018 not ASU 2017 04, Intangibles: Goodwill and Other: Simplifying the Test for Goodwill Impairment 2017 04” 2017 04 2 not 2017 04 zero 2 2017 04 December 15, 2019. January 1, 2017. not ASU 2017 08 , Premium Amortization on Purchased Callable Debt Securities. not No. 2017 08 December 15, 2018; first No. 2017 08 ASU 2018 02, Income Statement – Reporting Comprehensive Income (Topic 220 Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. 2018 02 December 15, 2018, 2018 02 fourth 2017 $1,068,295 December 31, 2017. ASU 2018 13, Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement (Topic 820 2018 13 December 15, 2019; 2018 13 |
Note 2 - Business Combination
Note 2 - Business Combination | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | ( 2 Planters First Bank Branch Acquisition On October 22, 2018, one $20.4 $12.0 $725 $113 The Company has accounted for the branch purchases under the acquisition method of accounting in accordance with FASB ASC topic 805, The acquired assets and assumed liabilities of the PFB branch were measured at estimated fair value. Management made significant estimates and exercised significant judgement in accounting for the acquisition of the PFB branch. Management evaluated expected cash flows and estimated loss factors to measure fair values for loans. Deposits were valued based upon interest rates, original and remaining terms and maturities, as well as current rates for similar funds in the same markets. The vacant lot was based on recent appraised value, whereas equipment was acquired based on the remaining book value from PFB, which approximated fair value. Management engaged independent outside experts to provide the fair value estimates. The following table provides the purchase price as of acquisition date, the identifiable assets acquired and liabilities assumed at their estimated fair values, and the resulting goodwill of $202 Purchase Price Consideration: Cash Consideration $ 10,237,789 Total purchase price for PFB branch acquisition $ 10,237,789 Assets acquired at fair value: Cash and cash equivalents $ 194,337 Loans 20,430,271 Premises and equipment, net 772,727 Core deposit intangible 560,000 Other assets 123,363 Total fair value of assets acquired $ 22,080,698 Liabilities assumed at fair value: Deposits $ 12,032,500 Other liabilities 12,653 Total fair value of liabilities assumed $ 12,045,153 Net Assets acquired at fair value: $ 10,035,545 Amount of goodwill resulting from acquisition $ 202,244 The total amount of goodwill arising from this transaction of $202 197 Acquired Loans The following table outlines the contractually required payments receivable, cash flows we expect to receive and the discounted yield for all PFB loans as of the acquisition date. Contractually Required Payments Receivable Cash Flows Expected To Be Collected Discounted FMV Adjustments Carrying Value of Loans Receivable Performing loans acquired $ 20,749,515 20,749,515 319,244 $ 20,430,271 The Bank recorded all loans acquired at the estimated fair value on the purchase date with no no The Bank determined the net discounted value of cash flows on approximately 89 $20.4 $319 Pending Acquisition On December 17, 2018, two one $23.50 1.3239 55% 45% 50% $34.1 $16.10 December 17, 2018. first 2019. December 31, 2018, $207 $136 $182 |
Note 3 - Cash and Balances Due
Note 3 - Cash and Balances Due From Banks | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | ( 3 ) Cash and Balances Due from Banks Components of cash and balances due from banks are as follows as of December 31: 20 1 8 2017 Cash on Hand and Cash Items $ 9,359,924 $ 9,746,132 Noninterest-Bearing Deposits with Other Banks 1,016,952 13,399,004 $ 10,376,876 $ 23,145,136 The Company is required to maintain reserve balances in cash or on deposit with the Federal Reserve Bank based on a percentage of deposits. Reserve balances totaled approximately $1,979,000 $1,515,000 December 31, 2018 2017, |
Note 4 - Investment Securities
Note 4 - Investment Securities | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ( 4 ) Investment Securities Investment securities as of December 31, 2018 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities Available for Sale U.S. Government Agencies Mortgage-Backed $ 356,498,339 $ 303,360 $ (10,596,527 ) $ 346,205,172 State, County and Municipal 4,007,883 17,858 (36,632 ) 3,989,109 Corporate 2,927,147 - (55,262 ) 2,871,885 $ 363,433,369 $ 321,218 $ (10,688,421 ) $ 353,066,166 The amortized cost and fair value of investment securities as of December 31, 2018, may may Securities Available for Sale Amortized Cost Fair Value Due in One Year or Less $ 354,440 $ 353,794 Due After One Year Through Five Years 4,294,198 4,237,813 Due After Five Years Through Ten Years 1,133,881 1,150,770 Due After Ten Years 1,152,511 1,118,617 $ 6,935,030 $ 6,860,994 Mortgage-Backed Securities 356,498,339 346,205,172 $ 363,433,369 $ 353,066,166 Investment securities as of December 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities Available for Sale U.S. Government Agencies Mortgage-Backed $ 354,931,318 $ 258,049 $ (8,465,948 ) $ 346,723,419 State, County and Municipal 4,493,085 22,835 (23,094 ) 4,492,826 Corporate 2,047,517 12,483 - 2,060,000 Asset-Backed 992,641 - (21,982 ) 970,659 $ 362,464,561 $ 293,367 $ (8,511,024 ) $ 354,246,904 Proceeds from sales of investments available for sale were $11,267,642 2018, $0 2017 $25,209,851 2016. $115,909 2018, $0 2017 $391,976 2016. $0 2018, $0 2017 $6,753 2016. Investment securities having a carrying value totaling $178,978,383 $175,484,021 December 31, 2018 2017, Information pertaining to securities with gross unrealized losses at December 31, 2018 2017 Less Than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses December 31, 2018 U.S. Government Agencies Mortgage-Backed $ 39,082,750 $ (504,496 ) $ 255,747,472 $ (10,092,031 ) $ 294,830,222 $ (10,596,527 ) State, County and Municipal 611,882 (2,668 ) 1,882,249 (33,964 ) 2,494,131 (36,632 ) Corporate 2,009,080 (20,847 ) 862,805 (34,415 ) 2,871,885 (55,262 ) $ 41,703,712 $ (528,011 ) $ 258,492,526 $ (10,160,410 ) $ 300,196,238 $ (10,688,421 ) December 31, 2017 U.S. Government Agencies Mortgage-Backed $ 120,139,340 $ (1,655,223 ) $ 190,196,101 $ (6,810,725 ) $ 310,335,441 $ (8,465,948 ) State, County and Municipal 2,598,344 (23,094 ) - - 2,598,344 (23,094 ) Asset – Backed 970,659 (21,982 ) - - 970,659 (21,982 ) $ 123,708,343 $ (1,700,299 ) $ 190,196,101 $ (6,810,725 ) $ 313,904,444 $ (8,511,024 ) Management evaluates securities for other-than-temporary impairment at least on a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. Consideration is given to ( 1 2 3 At December 31, 2018, 145 3.44 no one December 31, 2018 one no |
Note 5 - Loans
Note 5 - Loans | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ( 5 ) Loans The following table presents the composition of loans, segregated by class of loans, as of December 31: 20 1 8 2017 Commercial and Agricultural Commercial $ 57,410,473 $ 48,122,263 Agricultural 16,798,743 16,442,581 Real Estate Commercial Construction 47,848,754 45,213,960 Residential Construction 12,499,744 8,583,446 Commercial 373,533,562 351,171,668 Residential 187,714,372 194,048,945 Farmland 62,708,998 67,767,655 Consumer and Other Consumer 18,485,199 18,956,028 Other 5,027,523 14,977,309 Total Loans $ 782,027,368 $ 765,283,855 Commercial and agricultural loans are extended to a diverse group of businesses within the Company’s market area. These loans are often underwritten based on the borrower’s ability to service the debt from income from the business. Real estate construction loans often require loan funds to be advanced prior to completion of the project. Due to uncertainties inherent in estimating construction costs, changes in interest rates and other economic conditions, these loans often pose a higher risk than other types of loans. Consumer loans are originated at the bank level. These loans are generally smaller loan amounts spread across many individual borrowers to help minimize risk. Credit Q uality Indicators. 1 2 3 4 5 The Company uses a risk grading matrix to assign a risk grade to each of its loans. Loans are graded on a scale of 1 8. ● Grades 1 2 may ● Grades 3 4 no one ● Grade 5 ● Grade 6 ● Grades 7 8 no 6. The following tables present the loan portfolio by credit quality indicator (risk grade) as of December 31. 1, 2, 3 4 201 8 Pass Special Mention Substandard Total Loans Commercial and Agricultural Commercial $ 55,808,422 $ 729,088 $ 872,963 $ 57,410,473 Agricultural 15,664,048 636,666 498,029 16,798,743 Real Estate Commercial Construction 47,087,255 44,306 717,193 47,848,754 Residential Construction 12,499,744 - - 12,499,744 Commercial 358,139,315 7,661,667 7,732,580 373,533,562 Residential 170,050,484 7,106,793 10,557,095 187,714,372 Farmland 58,712,452 1,912,338 2,084,208 62,708,998 Consumer and Other Consumer 18,103,792 59,073 322,334 18,485,199 Other 5,018,095 5,475 3,953 5,027,523 Total Loans $ 741,083,607 $ 18,155,406 $ 22,788,355 $ 782,027,368 2017 Commercial and Agricultural Commercial $ 46,468,726 $ 825,607 $ 827,930 $ 48,122,263 Agricultural 15,868,191 174,356 400,034 16,442,581 Real Estate Commercial Construction 41,282,295 577,765 3,353,900 45,213,960 Residential Construction 8,583,446 - - 8,583,446 Commercial 338,775,805 7,662,637 4,733,226 351,171,668 Residential 177,962,870 4,864,893 11,221,182 194,048,945 Farmland 66,334,906 444,095 988,654 67,767,655 Consumer and Other Consumer 18,495,798 52,970 407,260 18,956,028 Other 14,968,677 8,632 - 14,977,309 Total Loans $ 728,740,714 $ 14,610,955 $ 21,932,186 $ 765,283,855 A loan’s risk grade is assigned at the inception of the loan and is based on the financial strength of the borrower and the type of collateral. Loan risk grades are subject to reassessment at various times throughout the year as part of the Company’s ongoing loan review process. Loans with an assigned risk grade of 6 $250,000 may not Loans are considered past due if the required principal and interest payments have not 90 may may The following table represents an age analysis of past due loans and nonaccrual loans, segregated by class of loans, as of December 31: Accruing Loans 201 8 30-89 Days Past Due 90 Days or More Past Due Total Accruing Loans Past Due Nonaccrual Loans Current Loan s Total Loans Commercial and Agricultural Commercial $ 282,116 $ - $ 282,116 $ 637,085 $ 56,491,272 $ 57,410,473 Agricultural 117,087 - 117,087 413,254 16,268,402 16,798,743 Real Estate Commercial Construction 88,371 - 88,371 462,841 47,297,542 47,848,754 Residential Construction - - - - 12,499,744 12,499,744 Commercial 679,387 - 679,387 2,965,546 369,888,629 373,533,562 Residential 6,881,632 - 6,881,632 2,734,179 178,098,561 187,714,372 Farmland 75,548 - 75,548 2,052,604 60,580,846 62,708,998 Consumer and Other Consumer 110,340 - 110,340 212,524 18,162,335 18,485,199 Other - - - 3,953 5,023,570 5,027,523 Total Loans $ 8,234,481 $ - $ 8,234,481 $ 9,481,986 $ 764,310,901 $ 782,027,368 2017 Commercial and Agricultural Commercial $ 328,483 $ - $ 328,483 $ 598,305 $ 47,195,475 $ 48,122,263 Agricultural 110,482 - 110,482 398,509 15,933,590 16,442,581 Real Estate Commercial Construction 27,062 - 27,062 477,043 44,709,855 45,213,960 Residential Construction 119,443 - 119,443 - 8,464,003 8,583,446 Commercial 918,997 - 918,997 2,172,229 348,080,442 351,171,668 Residential 2,482,276 - 2,482,276 2,829,966 188,736,703 194,048,945 Farmland 318,329 - 318,329 838,577 66,610,749 67,767,655 Consumer and Other Consumer 246,175 246,175 188,073 18,521,780 18,956,028 Other 7,158 - 7,158 - 14,970,151 14,977,309 Total Loans $ 4,558,405 $ - $ 4,558,405 $ 7,502,702 $ 753,222,748 $ 765,283,855 Had nonaccrual loans performed in accordance with their original contractual terms, the Company would have recognized additional interest income of approximately $226,000, $205,000 $387,000 December 31, 2018, 2017 2016, The following table details impaired loan data as of December 31, 2018: Unpaid Contractual Principal Balance Impaired Balance Related Allowance Average Recorded Investment Interest Income Recognized Interest Income Collected With No Related Allowance Recorded Commercial $ 595,323 $ 595,323 $ - $ 525,463 $ 21,350 $ 23,985 Agricultural 433,915 413,254 - 382,978 17,949 24,825 Commercial Construction 132,366 132,366 - 69,396 7,806 7,966 Residential Construction - - - - - - Commercial Real Estate 12,163,915 12,163,915 - 11,039,755 581,836 582,893 Residential Real Estate 4,214,354 4,129,876 - 4,067,529 208,138 212,509 Farmland 2,054,137 2,052,604 - 1,361,278 52,974 81,962 Consumer 212,524 212,524 - 197,225 13,614 14,373 Other 3,953 3,953 - 791 204 233 $ 19,810,487 $ 19,703,815 $ - $ 17,644,415 $ 903,871 $ 948,746 With An Allowance Recorded Commercial $ 41,762 $ 41,762 $ 6,264 $ 8,352 $ 2,154 $ 2,247 Agricultural - - - - - - Commercial Construction 398,930 398,930 38,930 465,929 - - Residential Construction - - - - - - Commercial Real Estate 3,691,010 3,691,010 1,275,837 5,120,933 135,042 141,978 Residential Real Estate 274,198 274,198 60,716 97,902 8,187 8,180 Farmland 363,566 363,566 35,984 367,425 24,075 24,415 Consumer - - - - - - Other - - - - - - $ 4,769,466 $ 4,769,466 $ 1,417,731 $ 6,060,541 $ 169,458 $ 176,820 Total Commercial $ 637,085 $ 637,085 $ 6,264 $ 533,815 $ 23,504 $ 26,232 Agricultural 433,915 413,254 - 382,978 17,949 24,825 Commercial Construction 531,296 531,296 38,930 535,325 7,806 7,966 Residential Construction - - - - - - Commercial Real Estate 15,854,925 15,854,925 1,275,837 16,160,688 716,878 724,871 Residential Real Estate 4,488,552 4,404,074 60,716 4,165,431 216,325 220,689 Farmland 2,417,703 2,416,170 35,984 1,728,703 77,049 106,377 Consumer 212,524 212,524 - 197,225 13,614 14,373 Other 3,953 3,953 - 791 204 233 $ 24,579,953 $ 24,473,281 $ 1,417,731 $ 23,704,956 $ 1,073,329 $ 1,125,566 The following table details impaired loan data as of December 31, 2017: Unpaid Contractual Principal Balance Impaired Balance Related Allowance Average Recorded Investment Interest Income Recognized Interest Income Collected With No Related Allowance Recorded Commercial $ 598,305 $ 598,305 $ - $ 633,528 $ 33,283 $ 33,868 Agricultural 485,132 398,509 - 296,578 11,046 19,376 Commercial Construction 54,306 54,306 - 141,396 3,526 3,836 Residential Construction - - - 79,295 - - Commercial Real Estate 12,637,057 12,637,057 - 12,808,414 559,601 549,825 Residential Real Estate 4,977,769 4,579,614 - 4,566,041 211,318 226,684 Farmland 840,110 838,577 - 790,967 54,367 58,085 Consumer 188,073 188,073 - 186,348 8,576 9,452 $ 19,780,752 $ 19,294,441 $ - $ 19,502,567 $ 881,717 $ 901,126 With An Allowance Recorded Commercial $ - $ - $ - $ - $ - $ - Agricultural - - - - - - Commercial Construction 493,067 493,067 65,635 241,063 22,626 32,922 Residential Construction - - - - - - Commercial Real Estate 5,729,300 5,729,300 1,712,557 6,599,144 228,745 237,066 Residential Real Estate 108,859 108,859 27,123 482,228 4,261 7,446 Farmland 371,376 371,376 21,369 375,595 22,121 22,021 Consumer - - - - - - $ 6,702,602 $ 6,702,602 $ 1,826,684 $ 7,698,030 $ 277,753 $ 299,455 Total Commercial $ 598,305 $ 598,305 $ - $ 633,528 $ 33,283 $ 33,868 Agricultural 485,132 398,509 - 296,578 11,046 19,376 Commercial Construction 547,373 547,373 65,635 382,459 26,152 36,758 Residential Construction - - - 79,295 - - Commercial Real Estate 18,366,357 18,366,357 1,712,557 19,407,558 788,346 786,891 Residential Real Estate 5,086,628 4,688,473 27,123 5,048,269 215,579 234,130 Farmland 1,211,486 1,209,953 21,369 1,166,562 76,488 80,106 Consumer 188,073 188,073 - 186,348 8,576 9,452 $ 26,483,354 $ 25,997,043 $ 1,826,684 $ 27,200,597 $ 1,159,470 $ 1,200,581 The following table details impaired loan data as of December 31, 2016: Unpaid Contractual Principal Balance Impaired Balance Related Allowance Average Recorded Investment Interest Income Recognized Interest Income Collected With No Related Allowance Recorded Commercial $ 634,955 $ 634,955 $ - $ 539,099 $ 24,563 $ 27,142 Agricultural 229,182 208,522 - 210,372 8,794 12,412 Commercial Construction 190,494 190,494 - 697,893 6,630 7,127 Commercial Real Estate 14,357,601 14,276,688 - 14,274,719 567,349 560,354 Residential Real Estate 4,261,558 3,952,139 - 4,553,322 73,099 190,373 Farmland 920,666 799,556 - 1,016,395 21,526 26,012 Consumer 212,376 212,026 - 213,309 9,599 12,036 $ 20,806,832 $ 20,274,380 $ - $ 21,505,109 $ 711,560 $ 835,456 With An Allowance Recorded Commercial $ - $ - $ - $ 30,270 $ - $ - Agricultural - - - - - - Commercial Construction 72,296 72,296 21,135 74,098 1,532 1,416 Commercial Real Estate 8,557,582 8,467,135 3,021,943 8,339,666 238,684 235,749 Residential Real Estate 1,475,594 1,467,833 362,521 1,042,750 27,759 32,260 Farmland 379,851 379,851 29,173 384,056 21,098 21,310 Consumer - - - - - - $ 10,485,323 $ 10,387,115 $ 3,434,772 $ 9,870,840 $ 289,073 $ 290,735 Total Commercial $ 634,955 $ 634,955 $ - $ 569,369 $ 24,563 $ 27,142 Agricultural 229,182 208,522 - 210,372 8,794 12,412 Commercial Construction 262,790 262,790 21,135 771,991 8,162 8,543 Commercial Real Estate 22,915,183 22,743,823 3,021,943 22,614,385 806,033 796,103 Residential Real Estate 5,737,152 5,419,972 362,521 5,596,072 100,858 222,633 Farmland 1,300,517 1,179,407 29,173 1,400,451 42,624 47,322 Consumer 212,376 212,026 - 213,309 9,599 12,036 $ 31,292,155 $ 30,661,495 $ 3,434,772 $ 31,375,949 $ 1,000,633 $ 1,126,191 Troubled Debt Restructurings (TDRs) are troubled loans on which the original terms of the loan have been modified in favor of the borrower due to deterioration in the borrower’s financial condition. Each potential loan modification is reviewed individually and the terms of the loan are modified to meet the borrower’s specific circumstances at a point in time. Not ● Interest rate reductions - Occur when the stated interest rate is reduced to a nonmarket rate or a rate the borrower would not ● Amortization or maturity date changes - Result when the amortization period of the loan is extended beyond what is considered a normal amortization period for loans of similar type with similar collateral. ● Principal reductions - These are often the result of commercial real estate loan workouts where two no no As discussed in Note 1, no December 31, 2018. 12 months ended December 31, 2018, 2017 2016. 12 90 may six not Troubled Debt Restructurings 201 8 # of Contracts Pre-Modification Post-Modification Commercial Real Estate 1 $ 402,430 $ 402,430 2017 Commercial Real Estate - $ - $ - Residential Real Estate - - - Total Loans - - - 2016 Commercial Real Estate 1 $ 91,280 $ 91,097 Residential Real Estate 1 354,784 354,784 Total Loans 2 $ 446,064 $ 445,881 Troubled debt restructurings that subsequently defaulted as of December 31 201 8 2017 2016 # of Contracts Recorded Investment # of Contracts Recorded Investment # of Contracts Recorded Investment Residential Real Estate 1 $ 131,067 - $ - 1 $ 89,297 Total Loans 1 $ 131,067 - $ - 1 $ 89,297 During 2018, $131,067 December 31, 2017, December 2016, $89,297 June 2016. |
Note 6 - Allowance for Loan Los
Note 6 - Allowance for Loan Losses | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Allowance for Credit Losses [Text Block] | ( 6 ) Allowance for Loan Losses Changes in the allowance for loan losses for the years ended December 31 201 8 2017 2016 Balance, Beginning of Year $ 7,507,508 $ 8,923,293 $ 8,603,905 Provision for Loan Losses 200,500 390,000 1,062,000 Loans Charged Off (965,447 ) (2,915,753 ) (2,087,850 ) Recoveries of Loans Previously Charged Off 534,245 1,109,968 1,345,238 Balance, End of Year $ 7,276,806 $ 7,507,508 $ 8,923,293 The following tables detail activity in the allowance for loan losses, segregated by class of loan, for the years ended December 31. one not may 201 8 Beginning Balance Charge- O ffs Recoveries Provision Ending Balance Commercial and Agricultur al Commercial $ 446,675 $ (123,528 ) $ 139,466 $ (93,049 ) $ 369,564 Agricultural 185,904 (122,873 ) 22,031 163,188 248,250 Real Estate Commercial Construction 1,216,015 - 155,272 (1,256,413 ) 114,874 Residential Construction - - - 16,530 16,530 Commercial 3,873,959 (257,424 ) 40,052 892,523 4,549,110 Residential 968,101 (162,235 ) 90,703 284,483 1,181,052 Farmland 779,531 - 12,228 (90,210 ) 701,549 Consumer and Other Consumer 33,993 (299,387 ) 72,386 279,121 86,113 Other 3,330 - 2,107 4,327 9,764 $ 7,507,508 $ (965,447 ) $ 534,245 $ 200,500 $ 7,276,806 2017 Commercial and Agricultur al Commercial $ 456,197 $ (299,079 ) $ 136,499 $ 153,058 $ 446,675 Agricultural 167,692 (159,500 ) 3,963 173,749 185,904 Real Estate Commercial Construction 322,725 (51,977 ) 266,459 678,808 1,216,015 Residential Construction 13,491 - - (13,491 ) - Commercial 5,750,998 (966,014 ) 527,150 (1,438,175 ) 3,873,959 Residential 1,396,099 (1,048,337 ) 82,079 538,260 968,101 Farmland 722,331 (60,902 ) 16,750 101,352 779,531 Consumer and Other Consumer 80,265 (329,944 ) 74,933 208,739 33,993 Other 13,495 - 2,135 (12,300 ) 3,330 $ 8,923,293 $ (2,915,753 ) $ 1,109,968 $ 390,000 $ 7,507,508 2016 Beginning Balance Charge -O ffs Recoveries Provision Ending Balance Commercial and Agricultur al Commercial $ 855,364 $ (304,918 ) $ 66,738 $ (160,987 ) $ 456,197 Agricultural 203,091 (19,258 ) 4,150 (20,291 ) 167,692 Real Estate Commercial Construction 690,766 (25,318 ) 814,586 (1,157,309 ) 322,725 Residential Construction 19,890 - - (6,399 ) 13,491 Commercial 3,850,527 (992,067 ) 206,154 2,686,384 5,750,998 Residential 1,990,355 (361,630 ) 49,660 (282,286 ) 1,396,099 Farmland 911,692 (119,576 ) 145,000 (214,785 ) 722,331 Consumer and Other Consumer 63,377 (265,083 ) 52,629 229,342 80,265 Other 18,843 - 6,321 (11,669 ) 13,495 $ 8,603,905 $ (2,087,850 ) $ 1,345,238 $ 1,062,000 $ 8,923,293 The Company’s allowance for loan losses consists of specific valuation allowances established for probable losses on specific loans and historical valuation allowances for other loans with similar risk characteristics. The Company determines its individual reserves during its quarterly review of substandard loans. This process involves reviewing all loans with a risk grade of 6 $250,000 Since not may not $8,875,310 $9,470,621 December 31, 2018 2017, $1,312,154 $1,510,868 December 31, 2018 2017, not At December 31, 2018, 148 $4,257,258 $250,000 not December 31, 2017 2016, $4,335,524 $4,204,156, $250,000 Ending Allowance Balance Ending Loan Balance 2018 Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Commercial and Agricultural Commercial $ 6,264 $ 363,300 $ 369,564 $ 83,309 $ 57,327,164 $ 57,410,473 Agricultural - 248,250 248,250 27,031 16,771,712 16,798,743 Real Estate Commercial Construction 38,930 75,944 114,874 467,384 47,381,370 47,848,754 Residential Construction - 16,530 16,530 - 12,499,744 12,499,744 Commercial 1,275,837 3,273,273 4,549,110 15,413,112 358,120,450 373,533,562 Residential 60,716 1,120,336 1,181,052 2,067,906 185,646,466 187,714,372 Farmland 35,984 665,565 701,549 2,157,281 60,551,717 62,708,998 Consumer and Other Consumer - 86,113 86,113 - 18,485,199 18,485,199 Other - 9,764 9,764 - 5,027,523 5,027,523 Total End of Year Balance $ 1,417,731 $ 5,859,075 $ 7,276,806 $ 20,216,023 $ 761,811,345 $ 782,027,368 Ending Allowance Balance Ending Loan Balance 2017 Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Commercial and Agricultural Commercial $ - $ 446,675 $ 446,675 $ 77,599 $ 48,044,664 $ 48,122,263 Agricultural - 185,904 185,904 5,121 16,437,460 16,442,581 Real Estate Commercial Construction 65,635 1,150,380 1,216,015 493,067 44,720,893 45,213,960 Residential Construction - - - - 8,583,446 8,583,446 Commercial 1,712,557 2,161,402 3,873,959 18,010,035 333,161,633 351,171,668 Residential 27,123 940,978 968,101 2,040,125 192,008,820 194,048,945 Farmland 21,369 758,162 779,531 1,035,572 66,732,083 67,767,655 Consumer and Other Consumer - 33,993 33,993 - 18,956,028 18,956,028 Other - 3,330 3,330 - 14,977,309 14,977,309 Total End of Year Balance $ 1,826,684 $ 5,680,824 $ 7,507,508 $ 21,661,519 $ 743,622,336 $ 765,283,855 2016 Commercial and Agricultural Commercial $ - $ 456,197 $ 456,197 $ 6,671 $ 47,018,207 $ 47,024,878 Agricultural - 167,692 167,692 - 17,079,579 17,079,579 Real Estate Commercial Construction 21,135 301,590 322,725 72,296 30,286,066 30,358,362 Residential Construction - 13,491 13,491 - 11,830,447 11,830,447 Commercial 3,021,943 2,729,055 5,750,998 22,422,451 326,667,580 349,090,031 Residential 362,522 1,033,577 1,396,099 2,911,874 192,668,093 195,579,967 Farmland 29,172 693,159 722,331 1,044,047 65,833,150 66,877,197 Consumer and Other Consumer - 80,265 80,265 - 19,695,241 19,695,241 Other - 13,495 13,495 - 16,747,861 16,747,861 Total End of Year Balance $ 3,434,772 $ 5,488,521 $ 8,923,293 $ 26,457,339 $ 727,826,224 $ 754,283,563 |
Note 7 - Premises and Equipment
Note 7 - Premises and Equipment | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | ( 7 ) Premises and Equipment Premises and equipment are comprised of the following as of December 31: 20 1 8 2017 Land $ 10,934,885 $ 9,668,722 Building 26,544,689 26,893,354 Furniture, Fixtures and Equipment 12,782,042 13,090,366 Leasehold Improvements 696,529 655,166 Construction in Progress 581,389 68,253 51,539,534 50,375,861 Accumulated Depreciation (22,708,262 ) (22,736,431 ) $ 28,831,272 $ 27,639,430 Depreciation charged to operations totaled $1,786,652 2018, $1,647,813 2017 $1,574,249 2016. Certain Company facilities and equipment are leased under various operating leases. Rental expense approximated $443,000 2018, $427,000 2017 $437,000 2016. Future minimum rental payments as of December 31, 2018 Year Ending December 31 Amount 2019 $ 63,480 2020 42,000 2021 42,000 2022 38,500 2023 and Thereafter - $ 185,980 |
Note 8 - Other Real Estate Owne
Note 8 - Other Real Estate Owned | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Real Estate Owned [Text Block] | ( 8 ) Other Real Estate Owned The aggregate carrying amount of Other Real Estate Owned (OREO) at December 31, 2018, 2017 2016 $1,840,743, $4,256,469 $6,439,226, 2018, 2017 2016 December 31: 201 8 2017 2016 Balance, Beginning of Year $ 4,256,469 $ 6,439,226 $ 8,839,103 Additions 792,459 1,724,936 5,664,554 Sales of OREO (2,949,283 ) (3,786,567 ) (7,416,293 ) Transfer to Bank Premises (300,000 ) - - Gain/(Loss) on Sale 303,139 212,641 (146,402 ) Provision for Losses (262,041 ) (333,767 ) (501,736 ) Balance, End of Year $ 1,840,743 $ 4,256,469 $ 6,439,226 At December 31, 2018, $564,748 December 31, 2018, $25,069 |
Note 9 - Other Intangible Asset
Note 9 - Other Intangible Assets | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | ( 9 ) Other Intangible Assets The following is an analysis of the core deposit intangible activity for the years ended December 31: Core Deposit Intangible Accumulated Amortization Net Core Deposit Intangible Core Deposit Intangible Balance, December 31, 2016 $ 1,056,693 $ (976,178 ) $ 80,515 Amortization Expense - (35,749 ) (35,749 ) Balance, December 31, 2017 $ 1,056,693 $ (1,011,927 ) $ 44,766 Addition 560,000 - 560,000 Amortization Expense - (48,193 ) (48,193 ) Balance, December 31, 201 8 $ 1,616,693 $ (1,060,120 ) $ 556,573 Amortization expense related to the core deposit intangible was $48,193, $35,749 $35,749 December 31, 2018, 2017 2016. December 31, 2018 Year Ending December 31 Amount 2019 $ 83,684 2020 74,667 2021 74,667 2022 74,667 2023 74,667 Thereafter 174,221 $ 556,573 |
Note 10 - Income Taxes
Note 10 - Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | ( 10 ) Income Taxes The Tax Cuts and Jobs Act (the "TCJ Act"), enacted on December 22, 2017, 21 21 $2,040,946 fourth 2017 The components of income tax expense for the years ended December 31 20 1 8 2017 2016 Current Federal Expense $ 2,727,094 $ 3,943,495 $ 3,629,213 Deferred Federal Expense 273,176 793,012 222,120 Deferred Tax Expense from Tax Rate Changes - 2,040,946 - Federal Income Tax Expense 3,000,270 6,777,453 3,851,333 Current State Income Tax Expense - - - Federal and State Income Tax Expense $ 3,000,270 $ 6,777,453 $ 3,851,333 The federal income tax expense of $3,000,270 2018, $6,777,453 2017 $3,851,333 2016 20 1 8 2017 2016 Statutory Federal Income Taxes $ 3,132,711 $ 4,954,199 $ 4,283,394 Tax-Exempt Interest (57,271 ) (102,345 ) (109,759 ) Income from Cash Value Life Insurance, net of premiums (96,733 ) (198,730 ) (182,532 ) Meal and Entertainment Disallowance 9,578 14,354 16,813 Other 11,985 69,029 (156,583 ) Tax Expense from Tax Rate Changes - 2,040,946 - Actual Federal Income Taxes $ 3,000,270 $ 6,777,453 $ 3,851,333 Deferred taxes, which are included in Other Assets, in the accompanying consolidated balance sheets as of December 31 20 1 8 2017 Deferred Tax Assets Allowance for Loan Losses $ 1,528,129 $ 1,576,577 Other Real Estate 183,997 304,813 Deferred Compensation 148,402 161,000 Core Deposit Intangible 1,307 - Investments 210,000 210,000 Goodwill 48,086 76,058 Restricted Stock 2,917 - Other 201,574 237,591 $ 2,324,412 $ 2,566,039 Deferred Tax Liabilities Premises and Equipment (1,023,090 ) (995,190 ) Other (6,234 ) (2,585 ) (1,029,324 ) (997,775 ) Deferred Tax Assets (Liabilities) on Unrealized Securities Gains (Losses) 2,177,113 1,725,708 Net Deferred Tax Assets $ 3,472,201 $ 3,293,972 |
Note 11 - Deposits
Note 11 - Deposits | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Deposit Liabilities Disclosures [Text Block] | ( 1 1 ) Deposits The aggregate amount of overdrawn deposit accounts reclassified as loan balances totaled $476,182 $475,161 December 31, 2018 2017, Components of interest-bearing deposits as of December 31 20 1 8 2017 Interest-Bearing Demand $ 471,794,491 $ 458,717,332 Savings 79,452,705 78,172,441 Time, $250,000 and Over 53,881,417 38,919,469 Other Time 287,149,453 301,248,235 $ 892,278,066 $ 877,057,477 At December 31, 2018 2017, $80,535,032 $46,328,995 $250,000 $53,881,417 $38,919,469 December 31, 2018 December 31, 2017, As of December 31, 2018, Year Amount 2019 $ 241,365,987 2020 45,279,800 2021 37,132,339 2022 8,423,379 2023 8,788,583 Thereafter 40,782 $ 341,030,870 |
Note 12 - Other Borrowed Money
Note 12 - Other Borrowed Money | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | ( 1 2 ) Other Borrowed Money Other borrowed money at December 31 20 1 8 2017 Federal Home Loan Bank Advances $ 44,000,000 $ 46,000,000 Other Borrowings - 1,500,000 $ 44,000,000 $ 47,500,000 Advances from the Federal Home Loan Bank (FHLB) have maturities ranging from 2019 2028 0.98 3.51 first December 31, 2018, $108,634,687. December 31, 2018, $252,071,000. may The Company borrowed $5,000,000 first 2017 one 0.75 5.25 $3,500,000 November 2017. January 2018. The aggregate stated maturities of other borrowed money at December 31, 2018 Year Amount 2019 $ 5,000,000 2020 2,500,000 2021 - 2022 18,000,000 2023 6,000,000 2024 and Thereafter 12,500,000 $ 44,000,000 At December 31, 2018, $10,500,000 $33,500,000 The Company also has available federal funds lines of credit with various financial institutions totaling $43,500,000, none December 31, 2018. The Company has the ability to borrow funds from the Federal Reserve Bank (FRB) of Atlanta utilizing the discount window. The discount window is an instrument of monetary policy that allows eligible institutions to borrow money from the FRB on a short-term basis to meet temporary liquidity shortages caused by internal or external disruptions. At December 31, 2018, no |
Note 13 - Subordinated Debentur
Note 13 - Subordinated Debentures (Trust Preferred Securities) | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Subordinated Borrowings Disclosure [Text Block] | ( 1 3 ) Subordinated Debentures (Trust Preferred Securities) Total 3 - M onth Added Interest 5 - Year Description Date Amount Libor Rate Points Rate Maturity Call Option (In Thousands) Colony Bankcorp Statutory Trust III 6/17/2004 $ 4,640 2.78819 2.68 5.46819 6/14/2034 6/17/2009 Colony Bankcorp Capital Trust I 4/13/2006 5,155 2.80300 1.50 4.30300 4/13/2036 4/13/2011 Colony Bankcorp Capital Trust II 3/12/2007 9,279 2.80300 1.65 4.45300 3/12/2037 3/12/2012 Colony Bankcorp Capital Trust III 9/14/2007 5,155 2.52038 1.40 3.92038 9/14/2037 9/14/2012 The Trust Preferred Securities are recorded as subordinated debentures on the consolidated balance sheets, and subject to certain limitations, qualify as Tier 1 |
Note 14 - Preferred Stock and W
Note 14 - Preferred Stock and Warrant | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Preferred Stock And Warrants [Text Block] | ( 1 4 ) Preferred Stock and Warrant The Company redeemed 9,360 March 31, 2017. 8,661 $1,000 2016. 9,979 $1,000 2015. no 500,000 June 5, 2018, $3,175,000. 2009 2013. no December 31, 2018. |
Note 15 - Employee Benefit Plan
Note 15 - Employee Benefit Plan | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | ( 1 5 ) Employee Benefit Plan The Company offers a defined contribution 401 may six 2018, 2017 2016, $709,723, $686,580 $408,303 |
Note 16 - Commitments and Conti
Note 16 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | ( 1 6 ) Commitments and Contingencies Credit-Related Financial Instruments. The Company’s exposure to credit loss is represented by the contractual amount of these commitments. The Company follows the same credit policies in making commitments as it does for on-balance sheet instruments. At December 31, 2018 2017, Contract Amount 20 1 8 2017 Commitments to Extend Credit $ 98,736,000 $ 96,374,000 Standby Letters of Credit 1,525,000 1,536,000 Commitments to extend credit are agreements to lend to a customer as long as there is no may may not Unfunded commitments under commercial lines of credit, revolving credit lines and overdraft protection agreements are commitments for possible future extensions of credit to existing customers. These lines of credit are uncollateralized and usually do not may not Standby and performance letters of credit are conditional lending commitments issued by the Company to guarantee the performance of a customer to a third one Legal Contingencies. not, |
Note 17 - Deferred Compensation
Note 17 - Deferred Compensation Plan | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Deferred Compensation Plan [Text Block] | ( 1 7 ) Deferred Compensation Plan Colony Bank, the wholly-owned subsidiary, has deferred compensation plans covering certain former directors and certain officers choosing to participate through individual deferred compensation contracts. In accordance with terms of the contracts, the Bank is committed to pay the participant’s deferred compensation over a specified number of years, beginning at age 65. 65, first Liabilities accrued under the plans totaled $706,677 $766,667 December 31, 2018 2017, $107,850 2018 $110,080 2017. Provisions charged to operations totaled $52,285 2018, $55,572 2017 $57,125 2016. The Company has purchased life insurance policies on the plans’ participants and uses the cash flow from these policies to partially fund the plan. Fee income recognized with these plans totaled $135,218 2018, $233,064 2017 $165,128 2016. |
Note 18 - Supplemental Cash Flo
Note 18 - Supplemental Cash Flow Information | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Cash Flow, Supplemental Disclosures [Text Block] | ( 1 8 ) Supplemental Cash Flow Information Cash payments for the following were made during the years ended December 31: 201 8 2017 2016 Interest Expense $ 8,186,946 $ 6,851,541 $ 6,529,615 Income Taxes $ 2,695,000 $ 4,000,000 $ 3,365,000 Noncash financing and investing activities for the years ended December 31 201 8 2017 2016 Acquisitions of Real Estate Through Loan Foreclosures $ 792,459 $ 1,724,936 $ 5,664,554 Change in Unrealized Gain (Loss) on AFS Investment Securities $ (2,149,545 ) $ (608,355 ) $ (890,590 ) |
Note 19 - Related Party Transac
Note 19 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | ( 1 9 ) Related Party Transactions The following table reflects the activity and aggregate balance of direct and indirect loans to directors, executive officers or principal holders of equity securities of the Company. All such loans were made on substantially the same terms, including interest rates and collateral, as those prevailing at the time for comparable transactions with other persons and do not 20 1 8 2017 Balance, Beginning $ 744,637 $ 1,025,543 New Loans 97,690 1,050,393 Repayments (166,997 ) (1,106,606 ) Transactions Due to Changes in Directors - (224,693 ) Balance, Ending $ 675,330 $ 744,637 |
Note 20 - Fair Value of Financi
Note 20 - Fair Value of Financial Instruments and Fair Value Measurements | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | ( 20 ) Fair Value of Financial Instruments and Fair Value Measurements Generally accepted accounting standards in the U.S. require disclosure of fair value information about financial instruments, whether or not not Generally accepted accounting principles related to Fair Value Measurements define fair value, establish a framework for measuring fair value, establish a three three • Level 1 • Level 2 • Level 3 The following disclosures should not Cash and Short-Term Investments 1. Investment Securities 1. not 2. not 3. Federal Home Loan Bank Stock 1. Loans 2, 3. Bank-Owned Life Insurance 1. Deposit Liabilities 1. 2. Subordinated Debentures – 2. Other Borrowed Money 2 The carrying amount and estimated fair values of the Company’s financial instruments as of December 31 Carrying Estimated Level 201 8 Amount Fair Value 1 2 3 (in Thousands) Assets Cash and Short-Term Investments $ 60,155 $ 60,155 $ 60,155 $ - $ - Investment Securities Available for Sale 353,066 353,066 - 348,788 4,278 Federal Home Loan Bank Stock 2,978 2,978 2,978 - - Loans, Net 774,249 769,809 - 766,457 3,352 Bank-Owned Life Insurance 17,598 17,598 17,598 - - Liabilities Deposits 1,085,125 1,086,503 744,094 342,409 - Subordinated Debentures 24,229 24,229 - 24,229 - Other Borrowed Money 44,000 44,032 - 44,032 - 2017 Assets Cash and Short-Term Investments $ 57,813 $ 57,813 $ 57,813 $ - $ - Investment Securities Available for Sale 354,247 354,247 - 346,950 7,297 Federal Home Loan Bank Stock 3,043 3,043 3,043 - - Loans, Net 757,281 757,163 - 752,287 4,876 Bank-Owned Life Insurance 17,089 17,089 17,089 - - Liabilities Deposits 1,067,985 1,068,392 727,818 340,574 - Subordinated Debentures 24,229 24,229 - 24,229 - Other Borrowed Money 47,500 47,626 - 47,626 - Fair value estimates are made at a specific point in time, based on relevant market information and information about the financial instrument. These estimates do not one no Fair value estimates are based on existing on- and off-balance sheet financial instruments without attempting to estimate the value of anticipated future business and the value of assets and liabilities that are not not not Following is a description of the valuation methodologies used for instruments measured at fair value on a recurring and nonrecurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy: Assets Securities 1 1 not 2 3 Impaired L oans third 3 Other Real Estate third may third 10 3 Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis - December 31, 2018 2017, December 31, 2018 2017. Fair Value Measurements at Reporting Date Using 201 8 Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Recurring Securities Available for Sale U.S. Government Agencies Mortgage-Backed $ 346,205,172 $ - $ 342,142,079 $ 4,063,093 State, County and Municipal 3,989,109 - 3,774,634 214,475 Corporate 2,871,885 - 2,871,885 - $ 353,066,166 $ - $ 348,788,598 $ 4,277,568 Nonrecurring Impaired Loans $ 3,351,735 $ - $ - $ 3,351,735 Other Real Estate $ 1,182,783 $ - $ - $ 1,182,783 2017 Recurring Securities Available for Sale U.S. Government Agencies Mortgage-Backed $ 346,723,419 $ - $ 341,701,288 $ 5,022,131 State, County and Municipal 4,492,826 - 4,277,460 215,366 Corporate 2,060,000 - - 2,060,000 Asset-Backed 970,659 - 970,659 - $ 354,246,904 $ - $ 346,949,407 $ 7,297,497 Nonrecurring Impaired Loans $ 4,875,918 $ - $ - $ 4,875,918 Other Real Estate $ 2,014,904 $ - $ - $ 2,014,904 Liabilities The Company did not Fair Value Measurements Using Significant Unobservable Inputs (Level 3 The following tables present quantitative information about the significant unobservable inputs used in the fair value measurements for assets in level 3 December 31, 2018 2017. December 31, 201 8 Valuation Techniques Unobservable Inputs Range Weighted Avg Real Estate Commercial Construction $ 360,000 Sales Comparison Adjustment for Differences (6.60)% - 1,975.00% Between the Comparable Sales 984.20% Management Adjustments for Age 0.00% - 10.00% of Appraisals and/or Current 5.00% Market Conditions Residential Real Estate 213,482 Sales Comparison Adjustment for Differences (10.86)% - 6.70% Between the Comparable Sales (2.08)% Management Adjustments for Age 0.00% - 25.00% of Appraisals and/or Current 12.50% Market Conditions Commercial Real Estate 2,415,174 Sales Comparison Adjustment for Differences (60.00)% - 80.00% Between the Comparable Sales 10.00% Management Adjustments for Age 0.00% - 35.00% of Appraisals and/or Current 17.50% Market Conditions Income Approach Capitalization Rate 10.13% Farmland 327,581 Sales Comparison Adjustment for Differences Between the Comparable Sales (71.00)% - (3.50)% (37.25)% Management Adjustments for Age 10.00% - 80.00% of Appraisals and/or Current 45.00% Market Conditions Commercial 35,498 Sales Contract Adjustment for Estimated Costs to 0.00% - 0.00% Sell (0.00)% Management Adjustments for Age 0.00% - 15.00% of Appraisals and/or Current 15.00% Market Conditions Other Real Estate Owned 1,182,783 Sales Comparison Adjustment for Differences (30.00)% - 25.02% Between the Comparable Sales (2.49)% Management Adjustments for Age 9.82% - 99.39% of Appraisals and/or Current 35.26% Market Conditions Income Approach Capitalization Rate 10.00% December 31, 201 7 Valuation Techniques Unobservable Inputs Range Weighted Avg Real Estate Commercial Construction $ 427,433 Sales Comparison Adjustment for Differences (16.00)% - 1,975.00% Between the Comparable Sales 979.50% Management Adjustments for Age 0.00% - 10.00% of Appraisals and/or Current 5.00% Market Conditions Residential Real Estate 81,736 Sales Comparison Adjustment for Differences (43.30)% - 83.30% Between the Comparable Sales 20.00% Management Adjustments for Age 0.00% - 25.00% of Appraisals and/or Current 12.50% Market Conditions Commercial Real Estate 4,016,742 Income Approach Management Adjustments for Age 0.00% - 10.00% of Appraisals and/or Current 5.00% Market Conditions Capitalization Rate 10.75% Farmland 350,007 Sales Comparison Adjustment for Differences (71.00)% - 88.70% Between the Comparable Sales 8.85% Management Adjustments for Age 10.00% - 75.00% of Appraisals and/or Current 42.50% Market Conditions Other Real Estate Owned 2,014,904 Sales Comparison Adjustment for Differences (22.74)% - 15.00% Between the Comparable Sales (3.87)% Management Adjustments for Age 5.44% - 87.24% of Appraisals and/or Current 24.44% Market Conditions Income Approach Capitalization Rate 10.00% The following table presents a reconciliation and statement of income classification of gains and losses for all assets measured at fair value on a recurring basis using significant unobservable inputs (level 3 December 31, 2018, 2017 2016: Available for Sale Securities 201 8 2017 2016 Balance, Beginning $ 7,297,497 $ 576,384 $ 930,311 Transfers out of Level 3 (2,009,080 ) - - Securities Purchased During the Year - 7,069,649 - Securities Matured During the Year - (360,000 ) (330,000 ) Paydowns on Securities (885,082 ) - - Unrealized Gains(Losses) Included in Other Comprehensive Income (125,767 ) 11,464 (23,927 ) Balance, Ending $ 4,277,568 $ 7,297,497 $ 576,384 The Company’s policy is to recognize transfers in and transfers out of levels 1, 2 3 one $2,009,080 3 2 December 31, 2018. no 1 2 3 December 31, 2017 2016. The following table presents quantitative information about recurring level 3 December 31, 2018 2017: December 31, 201 8 Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Avg) State, County and Municipal $ 214,475 Discounted Cash Flow Discount Rate or Yield N/A* U. S. Government Agencies Mortgage - Backed 4,063,093 Fundamental Analysis Discount Rate or Yield N/A* December 31, 2017 State, County and Municipal $ 215,366 Discounted Cash Flow Discount Rate or Yield N/A* U. S. Government Agencies Mortgage - Backed 5,022,131 Fundamental Analysis Discount Rate or Yield N/A* Corporate 2,060,000 Option Pricing Discount Rate or Yield N/A* * The Company relies on a third third not |
Note 21 - Regulatory Capital Ma
Note 21 - Regulatory Capital Matters | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | ( 2 1 ) Regulatory Capital Matters The amount of dividends payable to the parent company from the subsidiary bank is limited by various banking regulatory agencies. Upon approval by regulatory authorities, the Bank may The Company is subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and, possibly, additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company must meet specific capital guidelines that involve quantitative measures of the Company’s assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The Company’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Quantitative measures established by regulation to ensure capital adequacy require the Company to maintain minimum amounts and ratios of total and Tier I capital to risk-weighted assets, and of Tier I capital to average assets. As of December 31, 2018, 1 December 31, 2018, no The Basel III rules also require the implementation of a new capital conservation buffer comprised of common equity Tier 1 January 1, 2016 0.625 0.625 2.5 January 1, 2019. The following table summarizes regulatory capital information as of December 31, 2018 December 31, 2017 December 31, 2018 2017 To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2018 (In Thousands) Total Capital to Risk-Weighted Assets Consolidated $ 133,900 15.86 % $ 67,527 8.00 % N/A N/A Colony Bank 131,723 15.63 67,418 8.00 84,272 10.00 % Tier I Capital to Risk-Weighted Assets Consolidated 126,623 15.00 50,645 6.00 N/A N/A Colony Bank 124,446 14.77 50,563 6.00 67,418 8.00 Common Equity Tier 1 Capital to Risk-Weighted Assets Consolidated 103,123 12.22 37,984 4.50 N/A N/A Colony Bank 124,446 14.77 37,923 4.50 54,777 6.50 Tier I Capital to Average Assets Consolidated 126,623 10.24 49,478 4.00 N/A N/A Colony Bank 124,446 10.08 49,396 4.00 61,745 5.00 As of December 31, 2017 Total Capital to Risk-Weighted Assets Consolidated $ 127,786 15.56 % $ 65,718 8.00 % N/A N/A Colony Bank 127,470 15.54 65,628 8.00 $ 82,036 10.00 % Tier I Capital to Risk-Weighted Assets Consolidated 120,279 14.64 49,289 6.00 N/A N/A Colony Bank 119,963 14.62 49,221 6.00 65,628 8.00 Common Equity Tier 1 Capital to Risk-Weighted Assets Consolidated 96,779 11.78 36,967 4.50 N/A N/A Colony Bank 119,963 14.62 36,916 4.50 53,323 6.50 Tier I Capital to Average Assets Consolidated 120,279 9.89 48,635 4.00 N/A N/A Colony Bank 119,963 9.88 48,566 4.00 60,708 5.00 In 2018, $8,300,000 500,000 second $3.2 2017, $8,725,000 9,360 2016, $9,100,000 8,661 |
Note 22 - Stock-based Compensat
Note 22 - Stock-based Compensation | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ( 22 In August 2018, 5,650 $17.73 July 30, 2019, July 2020 July 2021, no not Compensation expense for restricted stock is based on the market price of the Company stock at the time of the grant and amortized on a straight-line basis over the vesting period. The balance of unearned compensation related to these restricted shares as of December 31, 2018 $86,115 2.58 December 31, 2018 $13,890. |
Note 23 - Financial Information
Note 23 - Financial Information of Colony Bankcorp, Inc. (Parent Only) | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | ( 2 3 ) Financial Information of Colony Bankcorp, Inc. (Parent Only) The parent company’s balance sheets as of December 31, 2018 2017 three COLONY BANKCORP, INC. (PARENT ONLY) BALANCE SHEETS DECEMBER 31 20 1 8 2017 ASSETS Cash $ 936,808 $ 910,239 Premises and Equipment, Net 1,198,006 1,099,626 Investment in Subsidiary, at Equity 117,743,674 114,235,955 Other 235,878 24,458 Total Assets $ 120,114,366 $ 116,270,278 LIABILITIES AND STOCKHOLDERS ’ EQUITY Liabilities Other Borrowed Money $ - $ 1,500,000 Other 192,971 218,615 $ 192,971 $ 1,718,615 Subordinated Debt 24,229,000 24,229,000 Stockholders ’ Equity Common Stock, Par Value $1; 20,000,000 Shares Authorized, 8,444,908 and 8,439,258 Shares Issued and Outstanding as of December 31, 2018 and 2017, respectively 8,444,908 8,439,258 Paid-In Capital 25,978,334 29,145,094 Retained Earnings 69,459,243 59,230,260 Accumulated Other Comprehensive Loss, Net of Tax (8,190,090 ) (6,491,949 ) 95,692,395 90,322,663 Total Liabilities and Stockholders ’ Equity $ 120,114,366 $ 116,270,278 COLONY BANKCORP, INC. (PARENT ONLY) STATEMENTS OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31 20 1 8 2017 2016 Income Dividends from Subsidiaries $ 8,329,127 $ 8,746,882 $ 9,118,104 Management Fees 601,080 601,080 601,080 Other 105,968 97,103 103,612 $ 9,036,175 $ 9,445,065 $ 9,822,796 Expenses Interest 971,847 900,113 601,567 Salaries and Employee Benefits 1,083,960 917,259 840,130 Other 691,037 604,166 554,434 2,746,844 2,421,538 1,996,131 Income Before Taxes and Equity in Undistributed Earnings of Subsidiary 6,289,331 7,023,527 7,826,665 Income Tax Benefits 422,210 568,258 457,934 Income Before Equity in Undistributed Earnings of Subsidiary 6,711,541 7,591,785 8,284,599 Equity in Undistributed Earnings of Subsidiary 5,205,859 159,193 388,611 Net Income 11,917,400 7,750,978 8,673,210 Preferred Stock Dividends - 210,600 1,493,310 Net Income Available Stockholders $ 11,917,400 $ 7,540,378 $ 7,179,900 COLONY BANKCORP, INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME FOR THE YEARS ENDED DECEMBER 31 2018 2017 2016 Net Income $ 11,917,400 $ 7,750,978 $ 8,673,210 Other Comprehensive Income (Loss) Gains (Losses) on Securities Arising During the Year (2,033,636 ) (608,355 ) (505,367 ) Tax Effect 427,063 206,841 171,825 Realized (Gains) Losses on Sale of AFS Securities (115,909 ) - (385,223 ) Tax Effect 24,341 - 130,976 Change in Unrealized Gains (Losses) on Securities Available for Sale, Net of Reclassification Adjustment and Tax Effects (1,698,141 ) (401,514 ) (587,789 ) Comprehensive Income $ 10,219,259 $ 7,349,464 $ 8,085,421 COLONY BANKCORP, INC. (PARENT ONLY) STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED DECEMBER 31 2018 2017 2016 Cash Flows from Operating Activities Net Income $ 11,917,400 $ 7,750,978 $ 8,673,210 Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities Depreciation and Amortization 84,848 70,183 66,476 Share-based Compensation Expense 13,890 - - Equity in Undistributed Earnings of Subsidiary (5,205,859 ) (159,193 ) (388,611 ) Change in Interest Payable 2,450 17,887 5,367 Other (239,515 ) 38,135 108,288 6,573,214 7,717,990 8,464,730 Cash Flows from Investing Activities Purchases of Premises and Equipment (183,228 ) (94,925 ) (6,836 ) Cash Flows from Financing Activities Proceeds from Other Borrowed Money 7,500 5,000,000 - Principal Payments on Other Borrowed Money (1,507,500 ) (3,500,000 ) - Dividends Paid on Common Stock (1,688,417 ) (843,934 ) - Dividends Paid on Preferred Stock - (315,900 ) (1,590,746 ) Repurchase of Warrants (3,175,000 ) - - Redemption of Preferred Stock - (9,360,000 ) (8,661,000 ) (6,363,417 ) (9,019,834 ) (10,251,746 ) Increase (Decrease) in Cash 26,569 (1,396,769 ) (1,793,852 ) Cash, Beginning 910,239 2,307,008 4,100,860 Cash, Ending $ 936,808 $ 910,239 $ 2,307,008 |
Note 24 - Earnings Per Share
Note 24 - Earnings Per Share | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | ( 2 4 ) Earnings Per Share Basic earnings per share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding during each period. Diluted earnings per share reflects the potential dilution of common stock warrants and restricted stock. Net income available to common stockholders represents net income after preferred stock dividends. The following table presents earnings per share for the years ended December 31, 2018, 2017 2016: 201 8 2017 2016 Numerator Net Income Available to Common Stockholders $ 11,917,400 $ 7,540,378 $ 7,179,900 Denominator Weighted Average Number of Common Shares Outstanding for Basic Earnings Per Common Share 8,439,454 8,439,258 8,439,258 Dilutive Effect of Potential Common Stock Restricted Stock - - - Stock Warrants 99,154 194,323 74,037 Weighted-Average Number of Shares Outstanding for Diluted Earnings Per Common Share 8,538,608 8,633,581 8,513,295 Earnings Per Share - Basic $ 1.41 $ 0.89 $ 0.85 Earnings Per Share - Diluted $ 1.40 $ 0.87 $ 0.84 |
Note 25 - Accumulated Other Com
Note 25 - Accumulated Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Comprehensive Income (Loss) Note [Text Block] | ( 2 5 ) Accumulated Other Comprehensive Income (Loss) Changes in accumulated other comprehensive income (loss) for unrealized gains and losses securities available for sale for the years ended December 31, 2018, 2017 2016 2018 2017 2016 Beginning Balance $ (6,491,949 ) $ (5,022,140 ) $ (4,434,351 ) Other Comprehensive Income Before Reclassification (1,606,573 ) (401,514 ) (333,542 ) Amounts Reclassified from Accumulated Other Comprehensive Income (91,568 ) - (254,247 ) TCJ Act - (1,068,295 ) - Net Current Period Other Comprehensive Income (1,698,141 ) (1,469,809 ) (587,789 ) Ending Balance $ (8,190,090 ) $ (6,491,949 ) $ (5,022,140 ) |
Note 26 - Revenue from Contract
Note 26 - Revenue from Contracts with Customers | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | ( 2 6 ) Revenue From Contracts with Customers With the exception of gains and losses on the sale of other real estate owned, revenue from contracts with customers is recognized in the service charges on deposits category and the other service charges, commissions and fees category in the Company’s consolidated statements of operations as part of noninterest income. The following provides information on the Company’s sources of noninterest income within the scope of ASC 606 Service Charges on Deposits Service charges on deposits include both account maintenance fees and overdraft fees. The overdraft fees are recognized at the point in time that the overdraft occurs. For the years ended December 31, 2018, 2017, 2016, $4.4 $4.5 $4.3 Other Service Charges, Commissions and Fees Other service charges, commissions and fees include debit card interchange fees and ATM fees. Debit card interchange fees are earned from debit card holder transactions conducted through various payment networks. Interchange fees from debit card holders transactions represent a percentage of the underlying transaction amount and are recognized daily, concurrently with the transaction processing services provided to the debit cardholder. For the years ended December 31, 2018, 2017 2016, $2.8 $2.6 $2.4 December 31, 2018, 2017 2016, $352 $338 $307 Gains/Losses on the Sale of Other Real Estate The net gains and losses on sales of other real estate owned are recorded in other noninterest expenses in the Company’s consolidated statements of operations for the years ended December 31, 2017 2016. December 31, 2018, not December 31, 2018, 2017 2016, $41 121 648 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation Colony Bankcorp, Inc. (the Company) is a bank holding company located in Fitzgerald, Georgia. The consolidated financial statements include the accounts of Colony Bankcorp, Inc. and its wholly-owned subsidiary, Colony Bank, Fitzgerald, Georgia. All significant intercompany accounts have been eliminated in consolidation. The accounting and reporting policies of Colony Bankcorp, Inc. conform to generally accepted accounting principles and practices utilized in the commercial banking industry. |
Nature of Operations [Policy Text Block] | Nature of Operations The Company provides a full range of retail and commercial banking services for consumers and small- to medium-size businesses located primarily in central, south and coastal Georgia. Colony Bank is headquartered in Fitzgerald, Georgia with banking offices in Albany, Ashburn, Broxton, Centerville, Columbus, Cordele, Douglas, Eastman, Fitzgerald, Leesburg, Moultrie, Quitman, Rochelle, Savannah, Soperton, Statesboro, Sylvester, Thomaston, Tifton, Valdosta and Warner Robins. Lending and investing activities are funded primarily by deposits gathered through its retail banking office network. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the balance sheet date and revenues and expenses for the period. Actual results could differ significantly from those estimates. Material estimates that are particularly susceptible to significant change in the near term relate to the determination of the allowance for loan losses and the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans. |
Reclassification, Policy [Policy Text Block] | Reclassifications In certain instances, amounts reported in prior years’ consolidated financial statements and note disclosures have been reclassified to conform to statement presentations selected for 2018. no |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of Credit Risk Concentrations of credit risk can exist in relation to individual borrowers or groups of borrowers, certain types of collateral, certain types of industries or certain geographic regions. The Company has a concentration in real estate loans as well as a geographic concentration that could pose an adverse credit risk, particularly if an economic downturn occurred in the real estate market. At December 31, 2018, 88 The success of the Company is dependent, to a certain extent, upon the economic conditions in the geographic markets it serves. Adverse changes in the economic conditions in these geographic markets would likely have a material adverse effect on the Company’s results of operations and financial condition. The operating results of the Company depend primarily on its net interest income. Accordingly, operations are subject to risks and uncertainties surrounding the exposure to changes in the interest rate environment. At times, the Company may |
Investment, Policy [Policy Text Block] | Investment Securities The Company classifies its investment securities as trading, available for sale or held to maturity. Securities that are held principally for resale in the near term are classified as trading. Trading securities are carried at fair value, with realized and unrealized gains and losses included in noninterest income. Currently, no not may The Company evaluates each held to maturity and available for sale security in a loss position for other-than-temporary impairment (OTTI). In estimating other-than-temporary impairment losses, management considers such factors as the length of time and the extent to which the market value has been below cost, the financial condition of the issuer and the Company’s intent to sell and whether it is more likely than not not not not not |
Investment in Federal Home Bank Stock [Policy Text Block] | Federal Home Loan Bank Stock Investment in stock of a Federal Home Loan Bank (FHLB) is required for every federally insured institution that utilizes its services. FHLB stock is considered restricted, as defined in the accounting standards. The FHLB stock is reported in the consolidated financial statements at cost. Dividend income is recognized when earned. |
Policy Loans Receivable, Policy [Policy Text Block] | Loans Loans that the Company has the ability and intent to hold for the foreseeable future or until maturity are recorded at their principal amount outstanding, net of unearned interest and fees. Loan origination fees, net of certain direct origination costs, are deferred and amortized over the estimated terms of the loans using the straight-line method. Interest income on loans is recognized using the effective interest method. A loan is considered to be delinquent when payments have not When management believes there is sufficient doubt as to the collectibility of principal or interest on any loan or generally when loans are 90 no |
Loans and Leases Receivable, Troubled Debt Restructuring Policy [Policy Text Block] | Loans Modified in a Troubled Debt Restructuring (TDR) Loans are considered to have been modified in a TDR when, due to a borrower’s financial difficulty, the Company makes certain concessions to the borrower that it would not may six may |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | A llowance for Loan Losses The allowance for loan losses is established as losses are estimated to have occurred through a provision for loan losses charged to earnings. Loan losses are charged against the allowance when management believes the uncollectibility of a loan balance is confirmed. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management and is based upon management’s periodic review of the collectibility of the loans in light of historical experience, the nature and volume of the loan portfolio, adverse situations that may The allowance consists of specific, historical and general components. The specific component relates to loans that are classified as either doubtful, substandard or special mention. For such loans that are also classified as impaired, an allowance is established when the discounted cash flows (or collateral value or observable market price) of the impaired loan are lower than the carrying value of that loan. The historical component covers nonclassified loans and is based on historical loss experience adjusted for qualitative factors. A general component is maintained to cover uncertainties that could affect management’s estimate of probable losses. The general component of the allowance reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating specific and historical losses in the portfolio. General valuation allowances are based on internal and external qualitative risk factors such as ( 1 2 3 4 5 6 7 8 9 Loans identified as losses by management, internal loan review and/or Bank examiners are charged off. A loan is considered impaired when, based on current information and events, 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 the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not A significant portion of the Company’s impaired loans are deemed to be collateral dependent. Management therefore measures impairment on these loans based on the fair value of the collateral. Collateral values are determined based on appraisals performed by qualified licensed appraisers hired by the Company or by senior members of the Company’s credit administration staff. The decision whether to obtain an external third may third may 10 may not may Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Such adjustments are typically significant and result in a level 3 |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment Premises and equipment are recorded at acquisition cost net of accumulated depreciation. Depreciation is charged to operations over the estimated useful lives of the assets. The estimated useful lives and methods of depreciation are as follows: Description Life in Years Method Banking Premises 15 - 40 Straight-Line and Accelerated Furniture and Equipment 5 - 10 Straight-Line and Accelerated Expenditures for major renewals and betterments are capitalized. Maintenance and repairs are charged to operations as incurred. When property and equipment are retired or sold, the cost and accumulated depreciation are removed from the respective accounts and any gain or loss is reflected in other income or expense. |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill Goodwill represents the excess of the cost of businesses acquired over the fair value of the net assets acquired. Goodwill is assigned to reporting units and tested for impairment at least annually, or on an interim basis if an event occurs or circumstances change that would more likely than not |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Other Intangible Assets Intangible assets consist of core deposit intangibles acquired in connection with a business combination. The core deposit intangible is initially recognized based on an independent valuation performed as of the consummation date. The core deposit intangible is amortized by the straight-line method over the average remaining life of the acquired customer deposits. |
Transfers and Servicing of Financial Assets, Transfers of Financial Assets, Policy [Policy Text Block] | Transfers of Financial Assets Transfers of financial assets are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when ( 1 2 3 not |
Cash and Cash Equivalents, Policy [Policy Text Block] | Statement of Cash Flows For reporting cash flows, cash and cash equivalents include cash on hand, noninterest-bearing amounts due from banks, federal funds sold and securities purchased under agreement to resell. Cash flows from demand deposits, interest-bearing checking accounts, savings accounts, loans and certificates of deposit are reported net. |
Advertising Costs, Policy [Policy Text Block] | Advertising Costs The Company expenses the cost of advertising in the periods in which those costs are incurred. |
Income Tax, Policy [Policy Text Block] | Income Taxes The provision for income taxes is based upon income for financial statement purposes, adjusted for nontaxable income and nondeductible expenses. Deferred income taxes have been provided when different accounting methods have been used in determining income for income tax purposes and for financial reporting purposes. Deferred tax assets and liabilities are recognized based on future tax consequences attributable to differences arising from the financial statement carrying values of assets and liabilities and their tax basis. The differences relate primarily to depreciable assets (use of different depreciation methods for financial statement and income tax purposes) and allowance for loan losses (use of the allowance method for financial statement purposes and the direct write-off method for tax purposes). In the event of changes in the tax laws, deferred tax assets and liabilities are adjusted in the period of the enactment of those changes, with effects included in the income tax provision. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not not The Company’s federal and state income tax returns for tax years 2018, 2017, 2016 2015 three Positions taken in the Company’s tax returns may not 50 may first |
Real Estate Owned, Valuation Allowance, Policy [Policy Text Block] | Other Real Estate Other real estate generally represents real estate acquired through foreclosure and is initially recorded at estimated fair value at the date of acquisition less the cost of disposal. Losses from the acquisition of property in full or partial satisfaction of debt are recorded as loan losses. Properties are evaluated regularly to ensure the recorded amounts are supported by current fair values, and valuation allowances are recorded as necessary to reduce the carrying amount to fair value less estimated cost of disposal. Routine holding costs and gains or losses upon disposition are included in foreclosed property expense. |
Bank Owned Life Insurance [Policy Text Block] | Bank-Owned Life Insurance The Company has purchased life insurance on the lives of certain key members of management and directors. The life insurance policies are recorded at the amount that can be realized under the insurance contract at the balance sheet date, which is the cash surrender value adjusted for other charges or amounts due that are probable at settlement, if applicable. Increases in the cash surrender value are recorded as other income in the consolidated statements of income. The cash surrender value of the insurance contracts is recorded in other assets on the consolidated balance sheets in the amount of $17,597,639 $17,088,693 December 31, 2018 2017, |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Certain changes in assets and liabilities, such as unrealized gains and losses on securities available for sale, represent equity changes from economic events of the period other than transactions with owners. Such items are considered components of other comprehensive income (loss). Accounting standards codification requires the presentation in the consolidated financial statements of net income and all items of other comprehensive income (loss) as total comprehensive income (loss). |
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block] | Off-Balance Sheet Credit Related Financial Instruments In the ordinary course of business, the Company has entered into commitments to extend credit, commercial letters of credit and standby letters of credit. Such financial instruments are recorded on the consolidated balance sheets when they are funded. |
New Accounting Pronouncements, Policy [Policy Text Block] | Changes in Accounting Principles and Effects of New Accounting Pronouncements ASU 2014 09, Revenue from Contracts with Customers (Topic 606 January 1, 2018, 2014 09 606 1 2 606. 606 606 December 31, 2017 2016. December 31, 2018, 606 not no 26 606. ASU 2016 01, Financial Instruments – Overall (Subtopic 825 10 2016 01, 2016 01 January 1, 2018. not ASU 2016 02, Leases (Topic 842 . December 15, 2018, ASU 2016 13, Financial Instruments – Credit Losses (Topic 326 December 15, 2019, ASU 2016 15 , Statement of Cash Flows (Topic 230 2016 15 2016 15 January 1, 2018 not ASU 2017 04, Intangibles: Goodwill and Other: Simplifying the Test for Goodwill Impairment 2017 04” 2017 04 2 not 2017 04 zero 2 2017 04 December 15, 2019. January 1, 2017. not ASU 2017 08 , Premium Amortization on Purchased Callable Debt Securities. not No. 2017 08 December 15, 2018; first No. 2017 08 ASU 2018 02, Income Statement – Reporting Comprehensive Income (Topic 220 Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. 2018 02 December 15, 2018, 2018 02 fourth 2017 $1,068,295 December 31, 2017. ASU 2018 13, Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement (Topic 820 2018 13 December 15, 2019; 2018 13 |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Estimated Useful Lives and Methods of Depreciation [Table Text Block] | Description Life in Years Method Banking Premises 15 - 40 Straight-Line and Accelerated Furniture and Equipment 5 - 10 Straight-Line and Accelerated |
Note 2 - Business Combination (
Note 2 - Business Combination (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Purchase Price Consideration: Cash Consideration $ 10,237,789 Total purchase price for PFB branch acquisition $ 10,237,789 Assets acquired at fair value: Cash and cash equivalents $ 194,337 Loans 20,430,271 Premises and equipment, net 772,727 Core deposit intangible 560,000 Other assets 123,363 Total fair value of assets acquired $ 22,080,698 Liabilities assumed at fair value: Deposits $ 12,032,500 Other liabilities 12,653 Total fair value of liabilities assumed $ 12,045,153 Net Assets acquired at fair value: $ 10,035,545 Amount of goodwill resulting from acquisition $ 202,244 |
Schedule of Acquired Loans as Part of Business Combination [Table Text Block] | Contractually Required Payments Receivable Cash Flows Expected To Be Collected Discounted FMV Adjustments Carrying Value of Loans Receivable Performing loans acquired $ 20,749,515 20,749,515 319,244 $ 20,430,271 |
Note 3 - Cash and Balances Du_2
Note 3 - Cash and Balances Due From Banks (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Cash, Cash Equivalents and Investments [Table Text Block] | 20 1 8 2017 Cash on Hand and Cash Items $ 9,359,924 $ 9,746,132 Noninterest-Bearing Deposits with Other Banks 1,016,952 13,399,004 $ 10,376,876 $ 23,145,136 |
Note 4 - Investment Securities
Note 4 - Investment Securities (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Marketable Securities [Table Text Block] | Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities Available for Sale U.S. Government Agencies Mortgage-Backed $ 356,498,339 $ 303,360 $ (10,596,527 ) $ 346,205,172 State, County and Municipal 4,007,883 17,858 (36,632 ) 3,989,109 Corporate 2,927,147 - (55,262 ) 2,871,885 $ 363,433,369 $ 321,218 $ (10,688,421 ) $ 353,066,166 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Securities Available for Sale U.S. Government Agencies Mortgage-Backed $ 354,931,318 $ 258,049 $ (8,465,948 ) $ 346,723,419 State, County and Municipal 4,493,085 22,835 (23,094 ) 4,492,826 Corporate 2,047,517 12,483 - 2,060,000 Asset-Backed 992,641 - (21,982 ) 970,659 $ 362,464,561 $ 293,367 $ (8,511,024 ) $ 354,246,904 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Securities Available for Sale Amortized Cost Fair Value Due in One Year or Less $ 354,440 $ 353,794 Due After One Year Through Five Years 4,294,198 4,237,813 Due After Five Years Through Ten Years 1,133,881 1,150,770 Due After Ten Years 1,152,511 1,118,617 $ 6,935,030 $ 6,860,994 Mortgage-Backed Securities 356,498,339 346,205,172 $ 363,433,369 $ 353,066,166 |
Schedule of Unrealized Loss on Investments [Table Text Block] | Less Than 12 Months 12 Months or Greater Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses December 31, 2018 U.S. Government Agencies Mortgage-Backed $ 39,082,750 $ (504,496 ) $ 255,747,472 $ (10,092,031 ) $ 294,830,222 $ (10,596,527 ) State, County and Municipal 611,882 (2,668 ) 1,882,249 (33,964 ) 2,494,131 (36,632 ) Corporate 2,009,080 (20,847 ) 862,805 (34,415 ) 2,871,885 (55,262 ) $ 41,703,712 $ (528,011 ) $ 258,492,526 $ (10,160,410 ) $ 300,196,238 $ (10,688,421 ) December 31, 2017 U.S. Government Agencies Mortgage-Backed $ 120,139,340 $ (1,655,223 ) $ 190,196,101 $ (6,810,725 ) $ 310,335,441 $ (8,465,948 ) State, County and Municipal 2,598,344 (23,094 ) - - 2,598,344 (23,094 ) Asset – Backed 970,659 (21,982 ) - - 970,659 (21,982 ) $ 123,708,343 $ (1,700,299 ) $ 190,196,101 $ (6,810,725 ) $ 313,904,444 $ (8,511,024 ) |
Note 5 - Loans (Tables)
Note 5 - Loans (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | 20 1 8 2017 Commercial and Agricultural Commercial $ 57,410,473 $ 48,122,263 Agricultural 16,798,743 16,442,581 Real Estate Commercial Construction 47,848,754 45,213,960 Residential Construction 12,499,744 8,583,446 Commercial 373,533,562 351,171,668 Residential 187,714,372 194,048,945 Farmland 62,708,998 67,767,655 Consumer and Other Consumer 18,485,199 18,956,028 Other 5,027,523 14,977,309 Total Loans $ 782,027,368 $ 765,283,855 |
Financing Receivable Credit Quality Indicators [Table Text Block] | 201 8 Pass Special Mention Substandard Total Loans Commercial and Agricultural Commercial $ 55,808,422 $ 729,088 $ 872,963 $ 57,410,473 Agricultural 15,664,048 636,666 498,029 16,798,743 Real Estate Commercial Construction 47,087,255 44,306 717,193 47,848,754 Residential Construction 12,499,744 - - 12,499,744 Commercial 358,139,315 7,661,667 7,732,580 373,533,562 Residential 170,050,484 7,106,793 10,557,095 187,714,372 Farmland 58,712,452 1,912,338 2,084,208 62,708,998 Consumer and Other Consumer 18,103,792 59,073 322,334 18,485,199 Other 5,018,095 5,475 3,953 5,027,523 Total Loans $ 741,083,607 $ 18,155,406 $ 22,788,355 $ 782,027,368 2017 Commercial and Agricultural Commercial $ 46,468,726 $ 825,607 $ 827,930 $ 48,122,263 Agricultural 15,868,191 174,356 400,034 16,442,581 Real Estate Commercial Construction 41,282,295 577,765 3,353,900 45,213,960 Residential Construction 8,583,446 - - 8,583,446 Commercial 338,775,805 7,662,637 4,733,226 351,171,668 Residential 177,962,870 4,864,893 11,221,182 194,048,945 Farmland 66,334,906 444,095 988,654 67,767,655 Consumer and Other Consumer 18,495,798 52,970 407,260 18,956,028 Other 14,968,677 8,632 - 14,977,309 Total Loans $ 728,740,714 $ 14,610,955 $ 21,932,186 $ 765,283,855 |
Past Due Financing Receivables [Table Text Block] | Accruing Loans 201 8 30-89 Days Past Due 90 Days or More Past Due Total Accruing Loans Past Due Nonaccrual Loans Current Loan s Total Loans Commercial and Agricultural Commercial $ 282,116 $ - $ 282,116 $ 637,085 $ 56,491,272 $ 57,410,473 Agricultural 117,087 - 117,087 413,254 16,268,402 16,798,743 Real Estate Commercial Construction 88,371 - 88,371 462,841 47,297,542 47,848,754 Residential Construction - - - - 12,499,744 12,499,744 Commercial 679,387 - 679,387 2,965,546 369,888,629 373,533,562 Residential 6,881,632 - 6,881,632 2,734,179 178,098,561 187,714,372 Farmland 75,548 - 75,548 2,052,604 60,580,846 62,708,998 Consumer and Other Consumer 110,340 - 110,340 212,524 18,162,335 18,485,199 Other - - - 3,953 5,023,570 5,027,523 Total Loans $ 8,234,481 $ - $ 8,234,481 $ 9,481,986 $ 764,310,901 $ 782,027,368 2017 Commercial and Agricultural Commercial $ 328,483 $ - $ 328,483 $ 598,305 $ 47,195,475 $ 48,122,263 Agricultural 110,482 - 110,482 398,509 15,933,590 16,442,581 Real Estate Commercial Construction 27,062 - 27,062 477,043 44,709,855 45,213,960 Residential Construction 119,443 - 119,443 - 8,464,003 8,583,446 Commercial 918,997 - 918,997 2,172,229 348,080,442 351,171,668 Residential 2,482,276 - 2,482,276 2,829,966 188,736,703 194,048,945 Farmland 318,329 - 318,329 838,577 66,610,749 67,767,655 Consumer and Other Consumer 246,175 246,175 188,073 18,521,780 18,956,028 Other 7,158 - 7,158 - 14,970,151 14,977,309 Total Loans $ 4,558,405 $ - $ 4,558,405 $ 7,502,702 $ 753,222,748 $ 765,283,855 |
Impaired Financing Receivables [Table Text Block] | Unpaid Contractual Principal Balance Impaired Balance Related Allowance Average Recorded Investment Interest Income Recognized Interest Income Collected With No Related Allowance Recorded Commercial $ 595,323 $ 595,323 $ - $ 525,463 $ 21,350 $ 23,985 Agricultural 433,915 413,254 - 382,978 17,949 24,825 Commercial Construction 132,366 132,366 - 69,396 7,806 7,966 Residential Construction - - - - - - Commercial Real Estate 12,163,915 12,163,915 - 11,039,755 581,836 582,893 Residential Real Estate 4,214,354 4,129,876 - 4,067,529 208,138 212,509 Farmland 2,054,137 2,052,604 - 1,361,278 52,974 81,962 Consumer 212,524 212,524 - 197,225 13,614 14,373 Other 3,953 3,953 - 791 204 233 $ 19,810,487 $ 19,703,815 $ - $ 17,644,415 $ 903,871 $ 948,746 With An Allowance Recorded Commercial $ 41,762 $ 41,762 $ 6,264 $ 8,352 $ 2,154 $ 2,247 Agricultural - - - - - - Commercial Construction 398,930 398,930 38,930 465,929 - - Residential Construction - - - - - - Commercial Real Estate 3,691,010 3,691,010 1,275,837 5,120,933 135,042 141,978 Residential Real Estate 274,198 274,198 60,716 97,902 8,187 8,180 Farmland 363,566 363,566 35,984 367,425 24,075 24,415 Consumer - - - - - - Other - - - - - - $ 4,769,466 $ 4,769,466 $ 1,417,731 $ 6,060,541 $ 169,458 $ 176,820 Total Commercial $ 637,085 $ 637,085 $ 6,264 $ 533,815 $ 23,504 $ 26,232 Agricultural 433,915 413,254 - 382,978 17,949 24,825 Commercial Construction 531,296 531,296 38,930 535,325 7,806 7,966 Residential Construction - - - - - - Commercial Real Estate 15,854,925 15,854,925 1,275,837 16,160,688 716,878 724,871 Residential Real Estate 4,488,552 4,404,074 60,716 4,165,431 216,325 220,689 Farmland 2,417,703 2,416,170 35,984 1,728,703 77,049 106,377 Consumer 212,524 212,524 - 197,225 13,614 14,373 Other 3,953 3,953 - 791 204 233 $ 24,579,953 $ 24,473,281 $ 1,417,731 $ 23,704,956 $ 1,073,329 $ 1,125,566 Unpaid Contractual Principal Balance Impaired Balance Related Allowance Average Recorded Investment Interest Income Recognized Interest Income Collected With No Related Allowance Recorded Commercial $ 598,305 $ 598,305 $ - $ 633,528 $ 33,283 $ 33,868 Agricultural 485,132 398,509 - 296,578 11,046 19,376 Commercial Construction 54,306 54,306 - 141,396 3,526 3,836 Residential Construction - - - 79,295 - - Commercial Real Estate 12,637,057 12,637,057 - 12,808,414 559,601 549,825 Residential Real Estate 4,977,769 4,579,614 - 4,566,041 211,318 226,684 Farmland 840,110 838,577 - 790,967 54,367 58,085 Consumer 188,073 188,073 - 186,348 8,576 9,452 $ 19,780,752 $ 19,294,441 $ - $ 19,502,567 $ 881,717 $ 901,126 With An Allowance Recorded Commercial $ - $ - $ - $ - $ - $ - Agricultural - - - - - - Commercial Construction 493,067 493,067 65,635 241,063 22,626 32,922 Residential Construction - - - - - - Commercial Real Estate 5,729,300 5,729,300 1,712,557 6,599,144 228,745 237,066 Residential Real Estate 108,859 108,859 27,123 482,228 4,261 7,446 Farmland 371,376 371,376 21,369 375,595 22,121 22,021 Consumer - - - - - - $ 6,702,602 $ 6,702,602 $ 1,826,684 $ 7,698,030 $ 277,753 $ 299,455 Total Commercial $ 598,305 $ 598,305 $ - $ 633,528 $ 33,283 $ 33,868 Agricultural 485,132 398,509 - 296,578 11,046 19,376 Commercial Construction 547,373 547,373 65,635 382,459 26,152 36,758 Residential Construction - - - 79,295 - - Commercial Real Estate 18,366,357 18,366,357 1,712,557 19,407,558 788,346 786,891 Residential Real Estate 5,086,628 4,688,473 27,123 5,048,269 215,579 234,130 Farmland 1,211,486 1,209,953 21,369 1,166,562 76,488 80,106 Consumer 188,073 188,073 - 186,348 8,576 9,452 $ 26,483,354 $ 25,997,043 $ 1,826,684 $ 27,200,597 $ 1,159,470 $ 1,200,581 Unpaid Contractual Principal Balance Impaired Balance Related Allowance Average Recorded Investment Interest Income Recognized Interest Income Collected With No Related Allowance Recorded Commercial $ 634,955 $ 634,955 $ - $ 539,099 $ 24,563 $ 27,142 Agricultural 229,182 208,522 - 210,372 8,794 12,412 Commercial Construction 190,494 190,494 - 697,893 6,630 7,127 Commercial Real Estate 14,357,601 14,276,688 - 14,274,719 567,349 560,354 Residential Real Estate 4,261,558 3,952,139 - 4,553,322 73,099 190,373 Farmland 920,666 799,556 - 1,016,395 21,526 26,012 Consumer 212,376 212,026 - 213,309 9,599 12,036 $ 20,806,832 $ 20,274,380 $ - $ 21,505,109 $ 711,560 $ 835,456 With An Allowance Recorded Commercial $ - $ - $ - $ 30,270 $ - $ - Agricultural - - - - - - Commercial Construction 72,296 72,296 21,135 74,098 1,532 1,416 Commercial Real Estate 8,557,582 8,467,135 3,021,943 8,339,666 238,684 235,749 Residential Real Estate 1,475,594 1,467,833 362,521 1,042,750 27,759 32,260 Farmland 379,851 379,851 29,173 384,056 21,098 21,310 Consumer - - - - - - $ 10,485,323 $ 10,387,115 $ 3,434,772 $ 9,870,840 $ 289,073 $ 290,735 Total Commercial $ 634,955 $ 634,955 $ - $ 569,369 $ 24,563 $ 27,142 Agricultural 229,182 208,522 - 210,372 8,794 12,412 Commercial Construction 262,790 262,790 21,135 771,991 8,162 8,543 Commercial Real Estate 22,915,183 22,743,823 3,021,943 22,614,385 806,033 796,103 Residential Real Estate 5,737,152 5,419,972 362,521 5,596,072 100,858 222,633 Farmland 1,300,517 1,179,407 29,173 1,400,451 42,624 47,322 Consumer 212,376 212,026 - 213,309 9,599 12,036 $ 31,292,155 $ 30,661,495 $ 3,434,772 $ 31,375,949 $ 1,000,633 $ 1,126,191 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Troubled Debt Restructurings 201 8 # of Contracts Pre-Modification Post-Modification Commercial Real Estate 1 $ 402,430 $ 402,430 2017 Commercial Real Estate - $ - $ - Residential Real Estate - - - Total Loans - - - 2016 Commercial Real Estate 1 $ 91,280 $ 91,097 Residential Real Estate 1 354,784 354,784 Total Loans 2 $ 446,064 $ 445,881 |
Troubled Debt Restructurings That Subsequently Default [Table Text Block] | 201 8 2017 2016 # of Contracts Recorded Investment # of Contracts Recorded Investment # of Contracts Recorded Investment Residential Real Estate 1 $ 131,067 - $ - 1 $ 89,297 Total Loans 1 $ 131,067 - $ - 1 $ 89,297 |
Note 6 - Allowance for Loan L_2
Note 6 - Allowance for Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Changes in the Allowance for Loan Losses [Table Text Block] | 201 8 2017 2016 Balance, Beginning of Year $ 7,507,508 $ 8,923,293 $ 8,603,905 Provision for Loan Losses 200,500 390,000 1,062,000 Loans Charged Off (965,447 ) (2,915,753 ) (2,087,850 ) Recoveries of Loans Previously Charged Off 534,245 1,109,968 1,345,238 Balance, End of Year $ 7,276,806 $ 7,507,508 $ 8,923,293 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | 201 8 Beginning Balance Charge- O ffs Recoveries Provision Ending Balance Commercial and Agricultur al Commercial $ 446,675 $ (123,528 ) $ 139,466 $ (93,049 ) $ 369,564 Agricultural 185,904 (122,873 ) 22,031 163,188 248,250 Real Estate Commercial Construction 1,216,015 - 155,272 (1,256,413 ) 114,874 Residential Construction - - - 16,530 16,530 Commercial 3,873,959 (257,424 ) 40,052 892,523 4,549,110 Residential 968,101 (162,235 ) 90,703 284,483 1,181,052 Farmland 779,531 - 12,228 (90,210 ) 701,549 Consumer and Other Consumer 33,993 (299,387 ) 72,386 279,121 86,113 Other 3,330 - 2,107 4,327 9,764 $ 7,507,508 $ (965,447 ) $ 534,245 $ 200,500 $ 7,276,806 2017 Commercial and Agricultur al Commercial $ 456,197 $ (299,079 ) $ 136,499 $ 153,058 $ 446,675 Agricultural 167,692 (159,500 ) 3,963 173,749 185,904 Real Estate Commercial Construction 322,725 (51,977 ) 266,459 678,808 1,216,015 Residential Construction 13,491 - - (13,491 ) - Commercial 5,750,998 (966,014 ) 527,150 (1,438,175 ) 3,873,959 Residential 1,396,099 (1,048,337 ) 82,079 538,260 968,101 Farmland 722,331 (60,902 ) 16,750 101,352 779,531 Consumer and Other Consumer 80,265 (329,944 ) 74,933 208,739 33,993 Other 13,495 - 2,135 (12,300 ) 3,330 $ 8,923,293 $ (2,915,753 ) $ 1,109,968 $ 390,000 $ 7,507,508 2016 Beginning Balance Charge -O ffs Recoveries Provision Ending Balance Commercial and Agricultur al Commercial $ 855,364 $ (304,918 ) $ 66,738 $ (160,987 ) $ 456,197 Agricultural 203,091 (19,258 ) 4,150 (20,291 ) 167,692 Real Estate Commercial Construction 690,766 (25,318 ) 814,586 (1,157,309 ) 322,725 Residential Construction 19,890 - - (6,399 ) 13,491 Commercial 3,850,527 (992,067 ) 206,154 2,686,384 5,750,998 Residential 1,990,355 (361,630 ) 49,660 (282,286 ) 1,396,099 Farmland 911,692 (119,576 ) 145,000 (214,785 ) 722,331 Consumer and Other Consumer 63,377 (265,083 ) 52,629 229,342 80,265 Other 18,843 - 6,321 (11,669 ) 13,495 $ 8,603,905 $ (2,087,850 ) $ 1,345,238 $ 1,062,000 $ 8,923,293 |
Schedule of Allowance for Loan Losses by Portfolio Segment [Table Text Block] | Ending Allowance Balance Ending Loan Balance 2018 Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Commercial and Agricultural Commercial $ 6,264 $ 363,300 $ 369,564 $ 83,309 $ 57,327,164 $ 57,410,473 Agricultural - 248,250 248,250 27,031 16,771,712 16,798,743 Real Estate Commercial Construction 38,930 75,944 114,874 467,384 47,381,370 47,848,754 Residential Construction - 16,530 16,530 - 12,499,744 12,499,744 Commercial 1,275,837 3,273,273 4,549,110 15,413,112 358,120,450 373,533,562 Residential 60,716 1,120,336 1,181,052 2,067,906 185,646,466 187,714,372 Farmland 35,984 665,565 701,549 2,157,281 60,551,717 62,708,998 Consumer and Other Consumer - 86,113 86,113 - 18,485,199 18,485,199 Other - 9,764 9,764 - 5,027,523 5,027,523 Total End of Year Balance $ 1,417,731 $ 5,859,075 $ 7,276,806 $ 20,216,023 $ 761,811,345 $ 782,027,368 Ending Allowance Balance Ending Loan Balance 2017 Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Individually Evaluated for Impairment Collectively Evaluated for Impairment Total Commercial and Agricultural Commercial $ - $ 446,675 $ 446,675 $ 77,599 $ 48,044,664 $ 48,122,263 Agricultural - 185,904 185,904 5,121 16,437,460 16,442,581 Real Estate Commercial Construction 65,635 1,150,380 1,216,015 493,067 44,720,893 45,213,960 Residential Construction - - - - 8,583,446 8,583,446 Commercial 1,712,557 2,161,402 3,873,959 18,010,035 333,161,633 351,171,668 Residential 27,123 940,978 968,101 2,040,125 192,008,820 194,048,945 Farmland 21,369 758,162 779,531 1,035,572 66,732,083 67,767,655 Consumer and Other Consumer - 33,993 33,993 - 18,956,028 18,956,028 Other - 3,330 3,330 - 14,977,309 14,977,309 Total End of Year Balance $ 1,826,684 $ 5,680,824 $ 7,507,508 $ 21,661,519 $ 743,622,336 $ 765,283,855 2016 Commercial and Agricultural Commercial $ - $ 456,197 $ 456,197 $ 6,671 $ 47,018,207 $ 47,024,878 Agricultural - 167,692 167,692 - 17,079,579 17,079,579 Real Estate Commercial Construction 21,135 301,590 322,725 72,296 30,286,066 30,358,362 Residential Construction - 13,491 13,491 - 11,830,447 11,830,447 Commercial 3,021,943 2,729,055 5,750,998 22,422,451 326,667,580 349,090,031 Residential 362,522 1,033,577 1,396,099 2,911,874 192,668,093 195,579,967 Farmland 29,172 693,159 722,331 1,044,047 65,833,150 66,877,197 Consumer and Other Consumer - 80,265 80,265 - 19,695,241 19,695,241 Other - 13,495 13,495 - 16,747,861 16,747,861 Total End of Year Balance $ 3,434,772 $ 5,488,521 $ 8,923,293 $ 26,457,339 $ 727,826,224 $ 754,283,563 |
Note 7 - Premises and Equipme_2
Note 7 - Premises and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 20 1 8 2017 Land $ 10,934,885 $ 9,668,722 Building 26,544,689 26,893,354 Furniture, Fixtures and Equipment 12,782,042 13,090,366 Leasehold Improvements 696,529 655,166 Construction in Progress 581,389 68,253 51,539,534 50,375,861 Accumulated Depreciation (22,708,262 ) (22,736,431 ) $ 28,831,272 $ 27,639,430 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Year Ending December 31 Amount 2019 $ 63,480 2020 42,000 2021 42,000 2022 38,500 2023 and Thereafter - $ 185,980 |
Note 8 - Other Real Estate Ow_2
Note 8 - Other Real Estate Owned (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Other Real Estate, Roll Forward [Table Text Block] | 201 8 2017 2016 Balance, Beginning of Year $ 4,256,469 $ 6,439,226 $ 8,839,103 Additions 792,459 1,724,936 5,664,554 Sales of OREO (2,949,283 ) (3,786,567 ) (7,416,293 ) Transfer to Bank Premises (300,000 ) - - Gain/(Loss) on Sale 303,139 212,641 (146,402 ) Provision for Losses (262,041 ) (333,767 ) (501,736 ) Balance, End of Year $ 1,840,743 $ 4,256,469 $ 6,439,226 |
Note 9 - Other Intangible Ass_2
Note 9 - Other Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | Core Deposit Intangible Accumulated Amortization Net Core Deposit Intangible Core Deposit Intangible Balance, December 31, 2016 $ 1,056,693 $ (976,178 ) $ 80,515 Amortization Expense - (35,749 ) (35,749 ) Balance, December 31, 2017 $ 1,056,693 $ (1,011,927 ) $ 44,766 Addition 560,000 - 560,000 Amortization Expense - (48,193 ) (48,193 ) Balance, December 31, 201 8 $ 1,616,693 $ (1,060,120 ) $ 556,573 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Year Ending December 31 Amount 2019 $ 83,684 2020 74,667 2021 74,667 2022 74,667 2023 74,667 Thereafter 174,221 $ 556,573 |
Note 10 - Income Taxes (Tables)
Note 10 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 20 1 8 2017 2016 Current Federal Expense $ 2,727,094 $ 3,943,495 $ 3,629,213 Deferred Federal Expense 273,176 793,012 222,120 Deferred Tax Expense from Tax Rate Changes - 2,040,946 - Federal Income Tax Expense 3,000,270 6,777,453 3,851,333 Current State Income Tax Expense - - - Federal and State Income Tax Expense $ 3,000,270 $ 6,777,453 $ 3,851,333 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 20 1 8 2017 2016 Statutory Federal Income Taxes $ 3,132,711 $ 4,954,199 $ 4,283,394 Tax-Exempt Interest (57,271 ) (102,345 ) (109,759 ) Income from Cash Value Life Insurance, net of premiums (96,733 ) (198,730 ) (182,532 ) Meal and Entertainment Disallowance 9,578 14,354 16,813 Other 11,985 69,029 (156,583 ) Tax Expense from Tax Rate Changes - 2,040,946 - Actual Federal Income Taxes $ 3,000,270 $ 6,777,453 $ 3,851,333 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 20 1 8 2017 Deferred Tax Assets Allowance for Loan Losses $ 1,528,129 $ 1,576,577 Other Real Estate 183,997 304,813 Deferred Compensation 148,402 161,000 Core Deposit Intangible 1,307 - Investments 210,000 210,000 Goodwill 48,086 76,058 Restricted Stock 2,917 - Other 201,574 237,591 $ 2,324,412 $ 2,566,039 Deferred Tax Liabilities Premises and Equipment (1,023,090 ) (995,190 ) Other (6,234 ) (2,585 ) (1,029,324 ) (997,775 ) Deferred Tax Assets (Liabilities) on Unrealized Securities Gains (Losses) 2,177,113 1,725,708 Net Deferred Tax Assets $ 3,472,201 $ 3,293,972 |
Note 11 - Deposits (Tables)
Note 11 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Deposit Liabilities, Type [Table Text Block] | 20 1 8 2017 Interest-Bearing Demand $ 471,794,491 $ 458,717,332 Savings 79,452,705 78,172,441 Time, $250,000 and Over 53,881,417 38,919,469 Other Time 287,149,453 301,248,235 $ 892,278,066 $ 877,057,477 |
Scheduled Maturities Of Certificates Of Deposits [Table Text Block] | Year Amount 2019 $ 241,365,987 2020 45,279,800 2021 37,132,339 2022 8,423,379 2023 8,788,583 Thereafter 40,782 $ 341,030,870 |
Note 12 - Other Borrowed Money
Note 12 - Other Borrowed Money (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | 20 1 8 2017 Federal Home Loan Bank Advances $ 44,000,000 $ 46,000,000 Other Borrowings - 1,500,000 $ 44,000,000 $ 47,500,000 |
Schedule of Maturities of Long-term Debt [Table Text Block] | Year Amount 2019 $ 5,000,000 2020 2,500,000 2021 - 2022 18,000,000 2023 6,000,000 2024 and Thereafter 12,500,000 $ 44,000,000 |
Note 13 - Subordinated Debent_2
Note 13 - Subordinated Debentures (Trust Preferred Securities) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Subordinated Borrowing [Table Text Block] | Total 3 - M onth Added Interest 5 - Year Description Date Amount Libor Rate Points Rate Maturity Call Option (In Thousands) Colony Bankcorp Statutory Trust III 6/17/2004 $ 4,640 2.78819 2.68 5.46819 6/14/2034 6/17/2009 Colony Bankcorp Capital Trust I 4/13/2006 5,155 2.80300 1.50 4.30300 4/13/2036 4/13/2011 Colony Bankcorp Capital Trust II 3/12/2007 9,279 2.80300 1.65 4.45300 3/12/2037 3/12/2012 Colony Bankcorp Capital Trust III 9/14/2007 5,155 2.52038 1.40 3.92038 9/14/2037 9/14/2012 |
Note 16 - Commitments and Con_2
Note 16 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Summary Of Financial Instrument Outstanding [Table Text Block] | Contract Amount 20 1 8 2017 Commitments to Extend Credit $ 98,736,000 $ 96,374,000 Standby Letters of Credit 1,525,000 1,536,000 |
Note 18 - Supplemental Cash F_2
Note 18 - Supplemental Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | 201 8 2017 2016 Interest Expense $ 8,186,946 $ 6,851,541 $ 6,529,615 Income Taxes $ 2,695,000 $ 4,000,000 $ 3,365,000 |
Schedule of Other Significant Noncash Transactions [Table Text Block] | 201 8 2017 2016 Acquisitions of Real Estate Through Loan Foreclosures $ 792,459 $ 1,724,936 $ 5,664,554 Change in Unrealized Gain (Loss) on AFS Investment Securities $ (2,149,545 ) $ (608,355 ) $ (890,590 ) |
Note 19 - Related Party Trans_2
Note 19 - Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | 20 1 8 2017 Balance, Beginning $ 744,637 $ 1,025,543 New Loans 97,690 1,050,393 Repayments (166,997 ) (1,106,606 ) Transactions Due to Changes in Directors - (224,693 ) Balance, Ending $ 675,330 $ 744,637 |
Note 20 - Fair Value of Finan_2
Note 20 - Fair Value of Financial Instruments and Fair Value Measurements (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Carrying Estimated Level 201 8 Amount Fair Value 1 2 3 (in Thousands) Assets Cash and Short-Term Investments $ 60,155 $ 60,155 $ 60,155 $ - $ - Investment Securities Available for Sale 353,066 353,066 - 348,788 4,278 Federal Home Loan Bank Stock 2,978 2,978 2,978 - - Loans, Net 774,249 769,809 - 766,457 3,352 Bank-Owned Life Insurance 17,598 17,598 17,598 - - Liabilities Deposits 1,085,125 1,086,503 744,094 342,409 - Subordinated Debentures 24,229 24,229 - 24,229 - Other Borrowed Money 44,000 44,032 - 44,032 - 2017 Assets Cash and Short-Term Investments $ 57,813 $ 57,813 $ 57,813 $ - $ - Investment Securities Available for Sale 354,247 354,247 - 346,950 7,297 Federal Home Loan Bank Stock 3,043 3,043 3,043 - - Loans, Net 757,281 757,163 - 752,287 4,876 Bank-Owned Life Insurance 17,089 17,089 17,089 - - Liabilities Deposits 1,067,985 1,068,392 727,818 340,574 - Subordinated Debentures 24,229 24,229 - 24,229 - Other Borrowed Money 47,500 47,626 - 47,626 - |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | Fair Value Measurements at Reporting Date Using 201 8 Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Recurring Securities Available for Sale U.S. Government Agencies Mortgage-Backed $ 346,205,172 $ - $ 342,142,079 $ 4,063,093 State, County and Municipal 3,989,109 - 3,774,634 214,475 Corporate 2,871,885 - 2,871,885 - $ 353,066,166 $ - $ 348,788,598 $ 4,277,568 Nonrecurring Impaired Loans $ 3,351,735 $ - $ - $ 3,351,735 Other Real Estate $ 1,182,783 $ - $ - $ 1,182,783 2017 Recurring Securities Available for Sale U.S. Government Agencies Mortgage-Backed $ 346,723,419 $ - $ 341,701,288 $ 5,022,131 State, County and Municipal 4,492,826 - 4,277,460 215,366 Corporate 2,060,000 - - 2,060,000 Asset-Backed 970,659 - 970,659 - $ 354,246,904 $ - $ 346,949,407 $ 7,297,497 Nonrecurring Impaired Loans $ 4,875,918 $ - $ - $ 4,875,918 Other Real Estate $ 2,014,904 $ - $ - $ 2,014,904 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | December 31, 201 8 Valuation Techniques Unobservable Inputs Range Weighted Avg Real Estate Commercial Construction $ 360,000 Sales Comparison Adjustment for Differences (6.60)% - 1,975.00% Between the Comparable Sales 984.20% Management Adjustments for Age 0.00% - 10.00% of Appraisals and/or Current 5.00% Market Conditions Residential Real Estate 213,482 Sales Comparison Adjustment for Differences (10.86)% - 6.70% Between the Comparable Sales (2.08)% Management Adjustments for Age 0.00% - 25.00% of Appraisals and/or Current 12.50% Market Conditions Commercial Real Estate 2,415,174 Sales Comparison Adjustment for Differences (60.00)% - 80.00% Between the Comparable Sales 10.00% Management Adjustments for Age 0.00% - 35.00% of Appraisals and/or Current 17.50% Market Conditions Income Approach Capitalization Rate 10.13% Farmland 327,581 Sales Comparison Adjustment for Differences Between the Comparable Sales (71.00)% - (3.50)% (37.25)% Management Adjustments for Age 10.00% - 80.00% of Appraisals and/or Current 45.00% Market Conditions Commercial 35,498 Sales Contract Adjustment for Estimated Costs to 0.00% - 0.00% Sell (0.00)% Management Adjustments for Age 0.00% - 15.00% of Appraisals and/or Current 15.00% Market Conditions Other Real Estate Owned 1,182,783 Sales Comparison Adjustment for Differences (30.00)% - 25.02% Between the Comparable Sales (2.49)% Management Adjustments for Age 9.82% - 99.39% of Appraisals and/or Current 35.26% Market Conditions Income Approach Capitalization Rate 10.00% December 31, 201 7 Valuation Techniques Unobservable Inputs Range Weighted Avg Real Estate Commercial Construction $ 427,433 Sales Comparison Adjustment for Differences (16.00)% - 1,975.00% Between the Comparable Sales 979.50% Management Adjustments for Age 0.00% - 10.00% of Appraisals and/or Current 5.00% Market Conditions Residential Real Estate 81,736 Sales Comparison Adjustment for Differences (43.30)% - 83.30% Between the Comparable Sales 20.00% Management Adjustments for Age 0.00% - 25.00% of Appraisals and/or Current 12.50% Market Conditions Commercial Real Estate 4,016,742 Income Approach Management Adjustments for Age 0.00% - 10.00% of Appraisals and/or Current 5.00% Market Conditions Capitalization Rate 10.75% Farmland 350,007 Sales Comparison Adjustment for Differences (71.00)% - 88.70% Between the Comparable Sales 8.85% Management Adjustments for Age 10.00% - 75.00% of Appraisals and/or Current 42.50% Market Conditions Other Real Estate Owned 2,014,904 Sales Comparison Adjustment for Differences (22.74)% - 15.00% Between the Comparable Sales (3.87)% Management Adjustments for Age 5.44% - 87.24% of Appraisals and/or Current 24.44% Market Conditions Income Approach Capitalization Rate 10.00% |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Available for Sale Securities 201 8 2017 2016 Balance, Beginning $ 7,297,497 $ 576,384 $ 930,311 Transfers out of Level 3 (2,009,080 ) - - Securities Purchased During the Year - 7,069,649 - Securities Matured During the Year - (360,000 ) (330,000 ) Paydowns on Securities (885,082 ) - - Unrealized Gains(Losses) Included in Other Comprehensive Income (125,767 ) 11,464 (23,927 ) Balance, Ending $ 4,277,568 $ 7,297,497 $ 576,384 |
Fair Value, Inputs, Level 3 [Member] | |
Notes Tables | |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | December 31, 201 8 Fair Value Valuation Techniques Unobservable Inputs Range (Weighted Avg) State, County and Municipal $ 214,475 Discounted Cash Flow Discount Rate or Yield N/A* U. S. Government Agencies Mortgage - Backed 4,063,093 Fundamental Analysis Discount Rate or Yield N/A* December 31, 2017 State, County and Municipal $ 215,366 Discounted Cash Flow Discount Rate or Yield N/A* U. S. Government Agencies Mortgage - Backed 5,022,131 Fundamental Analysis Discount Rate or Yield N/A* Corporate 2,060,000 Option Pricing Discount Rate or Yield N/A* |
Note 21 - Regulatory Capital _2
Note 21 - Regulatory Capital Matters (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | To Be Well Capitalized Under For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions Amount Ratio Amount Ratio Amount Ratio As of December 31, 2018 (In Thousands) Total Capital to Risk-Weighted Assets Consolidated $ 133,900 15.86 % $ 67,527 8.00 % N/A N/A Colony Bank 131,723 15.63 67,418 8.00 84,272 10.00 % Tier I Capital to Risk-Weighted Assets Consolidated 126,623 15.00 50,645 6.00 N/A N/A Colony Bank 124,446 14.77 50,563 6.00 67,418 8.00 Common Equity Tier 1 Capital to Risk-Weighted Assets Consolidated 103,123 12.22 37,984 4.50 N/A N/A Colony Bank 124,446 14.77 37,923 4.50 54,777 6.50 Tier I Capital to Average Assets Consolidated 126,623 10.24 49,478 4.00 N/A N/A Colony Bank 124,446 10.08 49,396 4.00 61,745 5.00 As of December 31, 2017 Total Capital to Risk-Weighted Assets Consolidated $ 127,786 15.56 % $ 65,718 8.00 % N/A N/A Colony Bank 127,470 15.54 65,628 8.00 $ 82,036 10.00 % Tier I Capital to Risk-Weighted Assets Consolidated 120,279 14.64 49,289 6.00 N/A N/A Colony Bank 119,963 14.62 49,221 6.00 65,628 8.00 Common Equity Tier 1 Capital to Risk-Weighted Assets Consolidated 96,779 11.78 36,967 4.50 N/A N/A Colony Bank 119,963 14.62 36,916 4.50 53,323 6.50 Tier I Capital to Average Assets Consolidated 120,279 9.89 48,635 4.00 N/A N/A Colony Bank 119,963 9.88 48,566 4.00 60,708 5.00 |
Note 23 - Financial Informati_2
Note 23 - Financial Information of Colony Bankcorp, Inc. (Parent Only) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Condensed Balance Sheet [Table Text Block] | 20 1 8 2017 ASSETS Cash $ 936,808 $ 910,239 Premises and Equipment, Net 1,198,006 1,099,626 Investment in Subsidiary, at Equity 117,743,674 114,235,955 Other 235,878 24,458 Total Assets $ 120,114,366 $ 116,270,278 LIABILITIES AND STOCKHOLDERS ’ EQUITY Liabilities Other Borrowed Money $ - $ 1,500,000 Other 192,971 218,615 $ 192,971 $ 1,718,615 Subordinated Debt 24,229,000 24,229,000 Stockholders ’ Equity Common Stock, Par Value $1; 20,000,000 Shares Authorized, 8,444,908 and 8,439,258 Shares Issued and Outstanding as of December 31, 2018 and 2017, respectively 8,444,908 8,439,258 Paid-In Capital 25,978,334 29,145,094 Retained Earnings 69,459,243 59,230,260 Accumulated Other Comprehensive Loss, Net of Tax (8,190,090 ) (6,491,949 ) 95,692,395 90,322,663 Total Liabilities and Stockholders ’ Equity $ 120,114,366 $ 116,270,278 |
Condensed Income Statement [Table Text Block] | 20 1 8 2017 2016 Income Dividends from Subsidiaries $ 8,329,127 $ 8,746,882 $ 9,118,104 Management Fees 601,080 601,080 601,080 Other 105,968 97,103 103,612 $ 9,036,175 $ 9,445,065 $ 9,822,796 Expenses Interest 971,847 900,113 601,567 Salaries and Employee Benefits 1,083,960 917,259 840,130 Other 691,037 604,166 554,434 2,746,844 2,421,538 1,996,131 Income Before Taxes and Equity in Undistributed Earnings of Subsidiary 6,289,331 7,023,527 7,826,665 Income Tax Benefits 422,210 568,258 457,934 Income Before Equity in Undistributed Earnings of Subsidiary 6,711,541 7,591,785 8,284,599 Equity in Undistributed Earnings of Subsidiary 5,205,859 159,193 388,611 Net Income 11,917,400 7,750,978 8,673,210 Preferred Stock Dividends - 210,600 1,493,310 Net Income Available Stockholders $ 11,917,400 $ 7,540,378 $ 7,179,900 |
Condensed Statement of Comprehensive Income [Table Text Block] | 2018 2017 2016 Net Income $ 11,917,400 $ 7,750,978 $ 8,673,210 Other Comprehensive Income (Loss) Gains (Losses) on Securities Arising During the Year (2,033,636 ) (608,355 ) (505,367 ) Tax Effect 427,063 206,841 171,825 Realized (Gains) Losses on Sale of AFS Securities (115,909 ) - (385,223 ) Tax Effect 24,341 - 130,976 Change in Unrealized Gains (Losses) on Securities Available for Sale, Net of Reclassification Adjustment and Tax Effects (1,698,141 ) (401,514 ) (587,789 ) Comprehensive Income $ 10,219,259 $ 7,349,464 $ 8,085,421 |
Condensed Cash Flow Statement [Table Text Block] | 2018 2017 2016 Cash Flows from Operating Activities Net Income $ 11,917,400 $ 7,750,978 $ 8,673,210 Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities Depreciation and Amortization 84,848 70,183 66,476 Share-based Compensation Expense 13,890 - - Equity in Undistributed Earnings of Subsidiary (5,205,859 ) (159,193 ) (388,611 ) Change in Interest Payable 2,450 17,887 5,367 Other (239,515 ) 38,135 108,288 6,573,214 7,717,990 8,464,730 Cash Flows from Investing Activities Purchases of Premises and Equipment (183,228 ) (94,925 ) (6,836 ) Cash Flows from Financing Activities Proceeds from Other Borrowed Money 7,500 5,000,000 - Principal Payments on Other Borrowed Money (1,507,500 ) (3,500,000 ) - Dividends Paid on Common Stock (1,688,417 ) (843,934 ) - Dividends Paid on Preferred Stock - (315,900 ) (1,590,746 ) Repurchase of Warrants (3,175,000 ) - - Redemption of Preferred Stock - (9,360,000 ) (8,661,000 ) (6,363,417 ) (9,019,834 ) (10,251,746 ) Increase (Decrease) in Cash 26,569 (1,396,769 ) (1,793,852 ) Cash, Beginning 910,239 2,307,008 4,100,860 Cash, Ending $ 936,808 $ 910,239 $ 2,307,008 |
Note 24 - Earnings Per Share (T
Note 24 - Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | 201 8 2017 2016 Numerator Net Income Available to Common Stockholders $ 11,917,400 $ 7,540,378 $ 7,179,900 Denominator Weighted Average Number of Common Shares Outstanding for Basic Earnings Per Common Share 8,439,454 8,439,258 8,439,258 Dilutive Effect of Potential Common Stock Restricted Stock - - - Stock Warrants 99,154 194,323 74,037 Weighted-Average Number of Shares Outstanding for Diluted Earnings Per Common Share 8,538,608 8,633,581 8,513,295 Earnings Per Share - Basic $ 1.41 $ 0.89 $ 0.85 Earnings Per Share - Diluted $ 1.40 $ 0.87 $ 0.84 |
Note 25 - Accumulated Other C_2
Note 25 - Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | 2018 2017 2016 Beginning Balance $ (6,491,949 ) $ (5,022,140 ) $ (4,434,351 ) Other Comprehensive Income Before Reclassification (1,606,573 ) (401,514 ) (333,542 ) Amounts Reclassified from Accumulated Other Comprehensive Income (91,568 ) - (254,247 ) TCJ Act - (1,068,295 ) - Net Current Period Other Comprehensive Income (1,698,141 ) (1,469,809 ) (587,789 ) Ending Balance $ (8,190,090 ) $ (6,491,949 ) $ (5,022,140 ) |
Note 1 - Summary of Significa_3
Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended |
Dec. 31, 2017 | Dec. 31, 2018 | |
Percentage of Loan Portfolio Concentrated in Loans Secured by Real Estate. | 88.00% | |
Discounted Percentage to Account for Selling and Marketing Costs | 10.00% | |
Open Tax Year | 2018 2017 2016 2015 | |
Probability of Uncertain Tax Positions of Being Realized upon Settlement, Minimum | 50.00% | |
Cash Surrender Value of Life Insurance | $ 17,088,693 | $ 17,597,639 |
Reclassification from AOCI to Retained Earnings Due to Stranded Tax Effects from the TCJ Act [Member] | ||
Current Period Reclassification Adjustment | $ 1,068,295 |
Note 1 - Summary of Significa_4
Note 1 - Summary of Significant Accounting Policies - Estimated Useful Lives and Methods of Depreciation (Details) | 12 Months Ended |
Dec. 31, 2018 | |
Banking Premises [Member] | |
Property, plant and equipment, depreciation method | Straight-Line and Accelerated |
Banking Premises [Member] | Minimum [Member] | |
Property, plant and equipment, useful life (Year) | 15 years |
Banking Premises [Member] | Maximum [Member] | |
Property, plant and equipment, useful life (Year) | 40 years |
Furniture and Equipment [Member] | |
Property, plant and equipment, depreciation method | Straight-Line and Accelerated |
Furniture and Equipment [Member] | Minimum [Member] | |
Property, plant and equipment, useful life (Year) | 5 years |
Furniture and Equipment [Member] | Maximum [Member] | |
Property, plant and equipment, useful life (Year) | 10 years |
Note 2 - Business Combination_2
Note 2 - Business Combination (Details Textual) | Dec. 17, 2018USD ($)$ / sharesshares | Oct. 22, 2018USD ($) | Dec. 31, 2018USD ($) | Aug. 31, 2018$ / shares | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) |
Goodwill, Ending Balance | $ 202,244 | |||||
Share Price | $ / shares | $ 16.10 | $ 17.73 | ||||
Assets, Total | 1,251,878,468 | 1,232,755,317 | ||||
Loans and Leases Receivable, Gross, Total | 782,027,368 | 765,283,855 | $ 754,283,563 | |||
Deposits, Total | 1,085,125,458 | $ 1,067,985,405 | ||||
LBC Bancshares, Inc [Member] | ||||||
Assets, Total | 207,000,000 | |||||
Loans and Leases Receivable, Gross, Total | 136,000,000 | |||||
Deposits, Total | $ 182,000,000 | |||||
Planters First Bank [Member] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans Receivable | $ 20,430,271 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deposit Liabilities | 12,000,000 | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment, Total | 772,727 | |||||
Business Acquisition, Transaction Costs | 113,000 | |||||
Goodwill, Ending Balance | 202,244 | |||||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | $ 202,000 | |||||
Business Combination, Number of Acquired Receivables | 89 | |||||
Business Combination, Acquired Receivable, Fair Value | $ 20,430,271 | |||||
Business Combination, Acquired Receivables, Discounted Fair Value Adjustment | 319,244 | |||||
Business Combination, Consideration Transferred, Total | 10,237,789 | |||||
Planters First Bank [Member] | Land [Member] | ||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment, Total | $ 725,000 | |||||
LBC Bancshares, Inc [Member] | ||||||
Business Acquisition, Share Price | $ / shares | $ 23.50 | |||||
Business Acquisition, Number of Shares of Acquiring Entity for Each Share of Acquired Entity | shares | 1.3239 | |||||
Business Acquistion, Percentage of Shares Receiving Stock Consideration | 55.00% | |||||
Business Acquistion, Percentage of Shares Receiving Cash Consideration | 45.00% | |||||
Business Acquisition, Minimum Percentage of Merger Consideration Paid in Stock | 50.00% | |||||
Business Combination, Consideration Transferred, Total | $ 34,100,000 |
Note 2 - Business Combination -
Note 2 - Business Combination - Assets and Liabilties Aquired (Details) - USD ($) | Oct. 22, 2018 | Dec. 31, 2018 | Dec. 31, 2017 |
Liabilities assumed at fair value: | |||
Goodwill, Ending Balance | $ 202,244 | ||
Planters First Bank [Member] | |||
Purchase Price Consideration: | |||
Cash Consideration | $ 10,237,789 | ||
Total purchase price for PFB branch acquisition | 10,237,789 | ||
Assets acquired at fair value: | |||
Cash and cash equivalents | 194,337 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Loans Receivable | 20,430,271 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment, Total | 772,727 | ||
Core deposit intangible | 560,000 | ||
Other assets | 123,363 | ||
Total fair value of assets acquired | 22,080,698 | ||
Liabilities assumed at fair value: | |||
Deposits | 12,032,500 | ||
Other liabilities | 12,653 | ||
Total fair value of liabilities assumed | 12,045,153 | ||
Net Assets acquired at fair value: | 10,035,545 | ||
Goodwill, Ending Balance | $ 202,244 |
Note 2 - Business Combination_3
Note 2 - Business Combination - Acquired Loans (Details) - Planters First Bank [Member] | Oct. 22, 2018USD ($) |
Contractually Required Payments Receivable | $ 20,749,515 |
Cash Flows Expected To Be Collected | 20,749,515 |
Discounted FMV Adjustments | 319,244 |
Carrying Value of Loans Receivable | $ 20,430,271 |
Note 3 - Cash and Balances Du_3
Note 3 - Cash and Balances Due From Banks (Details Textual) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Cash Reserve Deposit Required and Made | $ 1,979,000 | $ 1,515,000 |
Note 3 - Cash and Balances Du_4
Note 3 - Cash and Balances Due from Banks - Cash and Balances Due From Banks (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Cash on Hand and Cash Items | $ 9,359,924 | $ 9,746,132 |
Noninterest-Bearing Deposits with Other Banks | 1,016,952 | 13,399,004 |
$ 10,376,876 | $ 23,145,136 |
Note 4 - Investment Securitie_2
Note 4 - Investment Securities (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Proceeds from Sale of Available-for-sale Securities, Total | $ 11,267,642 | $ 0 | $ 25,209,851 |
Available-for-sale Securities, Gross Realized Gains | 115,909 | 0 | 391,976 |
Available-for-sale Securities, Gross Realized Losses | 0 | 0 | $ 6,753 |
Security Owned and Pledged as Collateral, Fair Value, Total | $ 178,978,383 | $ 175,484,021 | |
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions, Total | 145 | ||
Depreciated Debt Securities With Unrealized Losses | 3.44% | ||
Other than Temporary Impairment Losses, Investments, Available-for-sale Securities, Total | $ 0 | ||
Number of Asset Backed Securities Owned | 1 | ||
Number of Issuances of Trust Preferred Securities | 1 |
Note 4 - Investment Securitie_3
Note 4 - Investment Securities - Schedule of Investment Securities (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Available for sale securities, amortized cost | $ 363,433,369 | $ 362,464,561 |
Available for sale securities, gross unrealized gains | 321,218 | 293,367 |
Available for sale securities, gross unrealized losses | (10,688,421) | (8,511,024) |
Available for Sale, at Fair Value | 353,066,166 | 354,246,904 |
US Government Agencies Debt Securities [Member] | ||
Available for sale securities, amortized cost | 356,498,339 | 354,931,318 |
Available for sale securities, gross unrealized gains | 303,360 | 258,049 |
Available for sale securities, gross unrealized losses | (10,596,527) | (8,465,948) |
Available for Sale, at Fair Value | 346,205,172 | 346,723,419 |
US States and Political Subdivisions Debt Securities [Member] | ||
Available for sale securities, amortized cost | 4,007,883 | 4,493,085 |
Available for sale securities, gross unrealized gains | 17,858 | 22,835 |
Available for sale securities, gross unrealized losses | (36,632) | (23,094) |
Available for Sale, at Fair Value | 3,989,109 | 4,492,826 |
Corporate Debt Securities [Member] | ||
Available for sale securities, amortized cost | 2,927,147 | 2,047,517 |
Available for sale securities, gross unrealized gains | 12,483 | |
Available for sale securities, gross unrealized losses | (55,262) | |
Available for Sale, at Fair Value | $ 2,871,885 | 2,060,000 |
Asset-backed Securities [Member] | ||
Available for sale securities, amortized cost | 992,641 | |
Available for sale securities, gross unrealized gains | ||
Available for sale securities, gross unrealized losses | (21,982) | |
Available for Sale, at Fair Value | $ 970,659 |
Note 4 - Investment Securitie_4
Note 4 - Investment Securities - Amortized Cost and Fair Value of Investment Securities by Contractual Maturity (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Due In One Year or Less, amortized cost | $ 354,440 | |
Due In One Year or Less, fair value | 353,794 | |
Due After One Year Through Five Years, amortized cost | 4,294,198 | |
Due After One Year Through Five Years, fair value | 4,237,813 | |
Due After Five Years Through Ten Years, amortized cost | 1,133,881 | |
Due After Five Years Through Ten Years, fair value | 1,150,770 | |
Due After Ten Years, amortized cost | 1,152,511 | |
Due After Ten Years, fair value | 1,118,617 | |
Amortized cost with single maturity date | 6,935,030 | |
Fair value with single maturity date | 6,860,994 | |
Mortgage-Backed Securities, amortized cost | 356,498,339 | |
Mortgage-Backed Securities, fair value | 346,205,172 | |
Amortized cost | 363,433,369 | $ 362,464,561 |
Fair Value | $ 353,066,166 | $ 354,246,904 |
Note 4 - Investment Securitie_5
Note 4 - Investment Securities - Continuous Unrealized Loss Position (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Continuous unrealized loss, less than 12 months, fair value | $ 41,703,712 | $ 123,708,343 |
Continuous unrealized loss, less than 12 months, gross unrealized losses | (528,011) | (1,700,299) |
Continuous unrealized loss, greater than 12 months, fair value | 258,492,526 | 190,196,101 |
Continuous unrealized loss, greater than 12 months, gross unrealized losses | (10,160,410) | (6,810,725) |
Continuous unrealized loss, fair value | 300,196,238 | 313,904,444 |
Continuous unrealized loss, gross unrealized losses | (10,688,421) | (8,511,024) |
US Government Agencies Debt Securities [Member] | ||
Continuous unrealized loss, less than 12 months, fair value | 39,082,750 | 120,139,340 |
Continuous unrealized loss, less than 12 months, gross unrealized losses | (504,496) | (1,655,223) |
Continuous unrealized loss, greater than 12 months, fair value | 255,747,472 | 190,196,101 |
Continuous unrealized loss, greater than 12 months, gross unrealized losses | (10,092,031) | (6,810,725) |
Continuous unrealized loss, fair value | 294,830,222 | 310,335,441 |
Continuous unrealized loss, gross unrealized losses | (10,596,527) | (8,465,948) |
US States and Political Subdivisions Debt Securities [Member] | ||
Continuous unrealized loss, less than 12 months, fair value | 611,882 | 2,598,344 |
Continuous unrealized loss, less than 12 months, gross unrealized losses | (2,668) | (23,094) |
Continuous unrealized loss, greater than 12 months, fair value | 1,882,249 | |
Continuous unrealized loss, greater than 12 months, gross unrealized losses | (33,964) | |
Continuous unrealized loss, fair value | 2,494,131 | 2,598,344 |
Continuous unrealized loss, gross unrealized losses | (36,632) | (23,094) |
Corporate Debt Securities [Member] | ||
Continuous unrealized loss, less than 12 months, fair value | 2,009,080 | |
Continuous unrealized loss, less than 12 months, gross unrealized losses | (20,847) | |
Continuous unrealized loss, greater than 12 months, fair value | 862,805 | |
Continuous unrealized loss, greater than 12 months, gross unrealized losses | (34,415) | |
Continuous unrealized loss, fair value | 2,871,885 | |
Continuous unrealized loss, gross unrealized losses | $ (55,262) | |
Asset-backed Securities [Member] | ||
Continuous unrealized loss, less than 12 months, fair value | 970,659 | |
Continuous unrealized loss, less than 12 months, gross unrealized losses | (21,982) | |
Continuous unrealized loss, greater than 12 months, fair value | ||
Continuous unrealized loss, greater than 12 months, gross unrealized losses | ||
Continuous unrealized loss, fair value | 970,659 | |
Continuous unrealized loss, gross unrealized losses | $ (21,982) |
Note 5 - Loans (Details Textual
Note 5 - Loans (Details Textual) | 1 Months Ended | 12 Months Ended | ||
Dec. 31, 2017USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Loan Balance For Reviewing High Risk Loans Minimum | $ 250,000 | |||
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | $ 226,000 | $ 205,000 | $ 387,000 | |
Financing Receivable, Modifications, Number of Contracts | 0 | 2 | ||
Financing Receivables, Impaired, Troubled Debt Restructuring, Write-down | $ 89,297 | $ 131,067 |
Note 5 - Loans - Segregated by
Note 5 - Loans - Segregated by Class of Loans (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Loans | $ 782,027,368 | $ 765,283,855 | $ 754,283,563 |
Commercial and Agricultural Portfolio Segment [Member] | Commercial [Member] | |||
Loans | 57,410,473 | 48,122,263 | 47,024,878 |
Commercial and Agricultural Portfolio Segment [Member] | Agricultural [Member] | |||
Loans | 16,798,743 | 16,442,581 | 17,079,579 |
Real Estate Portfolio Segment [Member] | Commercial [Member] | |||
Loans | 373,533,562 | 351,171,668 | 349,090,031 |
Real Estate Portfolio Segment [Member] | Commercial Construction [Member] | |||
Loans | 47,848,754 | 45,213,960 | 30,358,362 |
Real Estate Portfolio Segment [Member] | Residential Construction [Member] | |||
Loans | 12,499,744 | 8,583,446 | 11,830,447 |
Real Estate Portfolio Segment [Member] | Residential [Member] | |||
Loans | 187,714,372 | 194,048,945 | 195,579,967 |
Real Estate Portfolio Segment [Member] | Farmland [Member] | |||
Loans | 62,708,998 | 67,767,655 | 66,877,197 |
Consumer and Other Portfolio Segment [Member] | Consumer [Member] | |||
Loans | 18,485,199 | 18,956,028 | 19,695,241 |
Consumer and Other Portfolio Segment [Member] | Other [Member] | |||
Loans | $ 5,027,523 | $ 14,977,309 | $ 16,747,861 |
Note 5 - Loans - Loan Portfolio
Note 5 - Loans - Loan Portfolio by Credit Quality Indicator (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Loans | $ 782,027,368 | $ 765,283,855 | $ 754,283,563 |
Pass [Member] | |||
Loans | 741,083,607 | 728,740,714 | |
Special Mention [Member] | |||
Loans | 18,155,406 | 14,610,955 | |
Substandard [Member] | |||
Loans | 22,788,355 | 21,932,186 | |
Commercial and Agricultural Portfolio Segment [Member] | Commercial [Member] | |||
Loans | 57,410,473 | 48,122,263 | 47,024,878 |
Commercial and Agricultural Portfolio Segment [Member] | Commercial [Member] | Pass [Member] | |||
Loans | 55,808,422 | 46,468,726 | |
Commercial and Agricultural Portfolio Segment [Member] | Commercial [Member] | Special Mention [Member] | |||
Loans | 729,088 | 825,607 | |
Commercial and Agricultural Portfolio Segment [Member] | Commercial [Member] | Substandard [Member] | |||
Loans | 872,963 | 827,930 | |
Commercial and Agricultural Portfolio Segment [Member] | Agricultural [Member] | |||
Loans | 16,798,743 | 16,442,581 | 17,079,579 |
Commercial and Agricultural Portfolio Segment [Member] | Agricultural [Member] | Pass [Member] | |||
Loans | 15,664,048 | 15,868,191 | |
Commercial and Agricultural Portfolio Segment [Member] | Agricultural [Member] | Special Mention [Member] | |||
Loans | 636,666 | 174,356 | |
Commercial and Agricultural Portfolio Segment [Member] | Agricultural [Member] | Substandard [Member] | |||
Loans | 498,029 | 400,034 | |
Real Estate Portfolio Segment [Member] | Commercial [Member] | |||
Loans | 373,533,562 | 351,171,668 | 349,090,031 |
Real Estate Portfolio Segment [Member] | Commercial [Member] | Pass [Member] | |||
Loans | 358,139,315 | 338,775,805 | |
Real Estate Portfolio Segment [Member] | Commercial [Member] | Special Mention [Member] | |||
Loans | 7,661,667 | 7,662,637 | |
Real Estate Portfolio Segment [Member] | Commercial [Member] | Substandard [Member] | |||
Loans | 7,732,580 | 4,733,226 | |
Real Estate Portfolio Segment [Member] | Commercial Construction [Member] | |||
Loans | 47,848,754 | 45,213,960 | 30,358,362 |
Real Estate Portfolio Segment [Member] | Commercial Construction [Member] | Pass [Member] | |||
Loans | 47,087,255 | 41,282,295 | |
Real Estate Portfolio Segment [Member] | Commercial Construction [Member] | Special Mention [Member] | |||
Loans | 44,306 | 577,765 | |
Real Estate Portfolio Segment [Member] | Commercial Construction [Member] | Substandard [Member] | |||
Loans | 717,193 | 3,353,900 | |
Real Estate Portfolio Segment [Member] | Residential Construction [Member] | |||
Loans | 12,499,744 | 8,583,446 | 11,830,447 |
Real Estate Portfolio Segment [Member] | Residential Construction [Member] | Pass [Member] | |||
Loans | 12,499,744 | 8,583,446 | |
Real Estate Portfolio Segment [Member] | Residential Construction [Member] | Special Mention [Member] | |||
Loans | 0 | ||
Real Estate Portfolio Segment [Member] | Residential Construction [Member] | Substandard [Member] | |||
Loans | |||
Real Estate Portfolio Segment [Member] | Residential [Member] | |||
Loans | 187,714,372 | 194,048,945 | 195,579,967 |
Real Estate Portfolio Segment [Member] | Residential [Member] | Pass [Member] | |||
Loans | 170,050,484 | 177,962,870 | |
Real Estate Portfolio Segment [Member] | Residential [Member] | Special Mention [Member] | |||
Loans | 7,106,793 | 4,864,893 | |
Real Estate Portfolio Segment [Member] | Residential [Member] | Substandard [Member] | |||
Loans | 10,557,095 | 11,221,182 | |
Real Estate Portfolio Segment [Member] | Farmland [Member] | |||
Loans | 62,708,998 | 67,767,655 | 66,877,197 |
Real Estate Portfolio Segment [Member] | Farmland [Member] | Pass [Member] | |||
Loans | 58,712,452 | 66,334,906 | |
Real Estate Portfolio Segment [Member] | Farmland [Member] | Special Mention [Member] | |||
Loans | 1,912,338 | 444,095 | |
Real Estate Portfolio Segment [Member] | Farmland [Member] | Substandard [Member] | |||
Loans | 2,084,208 | 988,654 | |
Consumer and Other Portfolio Segment [Member] | Consumer [Member] | |||
Loans | 18,485,199 | 18,956,028 | 19,695,241 |
Consumer and Other Portfolio Segment [Member] | Consumer [Member] | Pass [Member] | |||
Loans | 18,103,792 | 18,495,798 | |
Consumer and Other Portfolio Segment [Member] | Consumer [Member] | Special Mention [Member] | |||
Loans | 59,073 | 52,970 | |
Consumer and Other Portfolio Segment [Member] | Consumer [Member] | Substandard [Member] | |||
Loans | 322,334 | 407,260 | |
Consumer and Other Portfolio Segment [Member] | Other [Member] | |||
Loans | 5,027,523 | 14,977,309 | $ 16,747,861 |
Consumer and Other Portfolio Segment [Member] | Other [Member] | Pass [Member] | |||
Loans | 5,018,095 | 14,968,677 | |
Consumer and Other Portfolio Segment [Member] | Other [Member] | Special Mention [Member] | |||
Loans | 5,475 | 8,632 | |
Consumer and Other Portfolio Segment [Member] | Other [Member] | Substandard [Member] | |||
Loans | $ 3,953 |
Note 5 - Loans - Age Analysis o
Note 5 - Loans - Age Analysis of Past Due Loans and Nonaccrual Loans (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Accruing loans past due | $ 8,234,481 | $ 4,558,405 | |
Nonaccrual loans | 9,481,986 | 7,502,702 | |
Current loans | 764,310,901 | 753,222,748 | |
Loans | 782,027,368 | 765,283,855 | $ 754,283,563 |
Financing Receivables, 30-89 Days Past Due [Member] | |||
Accruing loans past due | 8,234,481 | 4,558,405 | |
Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accruing loans past due | |||
Commercial and Agricultural Portfolio Segment [Member] | Commercial [Member] | |||
Accruing loans past due | 282,116 | 328,483 | |
Nonaccrual loans | 637,085 | 598,305 | |
Current loans | 56,491,272 | 47,195,475 | |
Loans | 57,410,473 | 48,122,263 | 47,024,878 |
Commercial and Agricultural Portfolio Segment [Member] | Commercial [Member] | Financing Receivables, 30-89 Days Past Due [Member] | |||
Accruing loans past due | 282,116 | 328,483 | |
Commercial and Agricultural Portfolio Segment [Member] | Commercial [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accruing loans past due | |||
Commercial and Agricultural Portfolio Segment [Member] | Agricultural [Member] | |||
Accruing loans past due | 117,087 | 110,482 | |
Nonaccrual loans | 413,254 | 398,509 | |
Current loans | 16,268,402 | 15,933,590 | |
Loans | 16,798,743 | 16,442,581 | 17,079,579 |
Commercial and Agricultural Portfolio Segment [Member] | Agricultural [Member] | Financing Receivables, 30-89 Days Past Due [Member] | |||
Accruing loans past due | 117,087 | 110,482 | |
Commercial and Agricultural Portfolio Segment [Member] | Agricultural [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accruing loans past due | |||
Real Estate Portfolio Segment [Member] | Commercial [Member] | |||
Accruing loans past due | 679,387 | 918,997 | |
Nonaccrual loans | 2,965,546 | 2,172,229 | |
Current loans | 369,888,629 | 348,080,442 | |
Loans | 373,533,562 | 351,171,668 | 349,090,031 |
Real Estate Portfolio Segment [Member] | Commercial [Member] | Financing Receivables, 30-89 Days Past Due [Member] | |||
Accruing loans past due | 679,387 | 918,997 | |
Real Estate Portfolio Segment [Member] | Commercial [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accruing loans past due | |||
Real Estate Portfolio Segment [Member] | Commercial Construction [Member] | |||
Accruing loans past due | 88,371 | 27,062 | |
Nonaccrual loans | 462,841 | 477,043 | |
Current loans | 47,297,542 | 44,709,855 | |
Loans | 47,848,754 | 45,213,960 | 30,358,362 |
Real Estate Portfolio Segment [Member] | Commercial Construction [Member] | Financing Receivables, 30-89 Days Past Due [Member] | |||
Accruing loans past due | 88,371 | 27,062 | |
Real Estate Portfolio Segment [Member] | Commercial Construction [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accruing loans past due | |||
Real Estate Portfolio Segment [Member] | Residential Construction [Member] | |||
Accruing loans past due | 119,443 | ||
Nonaccrual loans | |||
Current loans | 12,499,744 | 8,464,003 | |
Loans | 12,499,744 | 8,583,446 | 11,830,447 |
Real Estate Portfolio Segment [Member] | Residential Construction [Member] | Financing Receivables, 30-89 Days Past Due [Member] | |||
Accruing loans past due | 119,443 | ||
Real Estate Portfolio Segment [Member] | Residential Construction [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accruing loans past due | |||
Real Estate Portfolio Segment [Member] | Residential [Member] | |||
Accruing loans past due | 6,881,632 | 2,482,276 | |
Nonaccrual loans | 2,734,179 | 2,829,966 | |
Current loans | 178,098,561 | 188,736,703 | |
Loans | 187,714,372 | 194,048,945 | 195,579,967 |
Real Estate Portfolio Segment [Member] | Residential [Member] | Financing Receivables, 30-89 Days Past Due [Member] | |||
Accruing loans past due | 6,881,632 | 2,482,276 | |
Real Estate Portfolio Segment [Member] | Residential [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accruing loans past due | |||
Real Estate Portfolio Segment [Member] | Farmland [Member] | |||
Accruing loans past due | 75,548 | 318,329 | |
Nonaccrual loans | 2,052,604 | 838,577 | |
Current loans | 60,580,846 | 66,610,749 | |
Loans | 62,708,998 | 67,767,655 | 66,877,197 |
Real Estate Portfolio Segment [Member] | Farmland [Member] | Financing Receivables, 30-89 Days Past Due [Member] | |||
Accruing loans past due | 75,548 | 318,329 | |
Real Estate Portfolio Segment [Member] | Farmland [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accruing loans past due | |||
Consumer and Other Portfolio Segment [Member] | Consumer [Member] | |||
Accruing loans past due | 110,340 | 246,175 | |
Nonaccrual loans | 212,524 | 188,073 | |
Current loans | 18,162,335 | 18,521,780 | |
Loans | 18,485,199 | 18,956,028 | 19,695,241 |
Consumer and Other Portfolio Segment [Member] | Consumer [Member] | Financing Receivables, 30-89 Days Past Due [Member] | |||
Accruing loans past due | 110,340 | 246,175 | |
Consumer and Other Portfolio Segment [Member] | Consumer [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accruing loans past due | |||
Consumer and Other Portfolio Segment [Member] | Other [Member] | |||
Accruing loans past due | 7,158 | ||
Nonaccrual loans | 3,953 | ||
Current loans | 5,023,570 | 14,970,151 | |
Loans | 5,027,523 | 14,977,309 | $ 16,747,861 |
Consumer and Other Portfolio Segment [Member] | Other [Member] | Financing Receivables, 30-89 Days Past Due [Member] | |||
Accruing loans past due | 7,158 | ||
Consumer and Other Portfolio Segment [Member] | Other [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Accruing loans past due |
Note 5 - Loans - Impaired Loan
Note 5 - Loans - Impaired Loan Data (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Unpaid contractual principal balance with no related allowance | $ 19,810,487 | $ 19,780,752 | $ 20,806,832 |
Impaired balance with no related allowance | 19,703,815 | 19,294,441 | 20,274,380 |
Average recorded investment with no related allowance | 17,644,415 | 19,502,567 | 21,505,109 |
Interest income recognized with no related allowance | 903,871 | 881,717 | 711,560 |
Interest income collected with no related allowance | 948,746 | 901,126 | 835,456 |
Unpaid contractual principal balance with an allowance | 4,769,466 | 6,702,602 | 10,485,323 |
Impaired balance with an allowance | 4,769,466 | 6,702,602 | 10,387,115 |
Related allowance | 1,417,731 | 1,826,684 | 3,434,772 |
Average recorded investment with an allowance | 6,060,541 | 7,698,030 | 9,870,840 |
Interest income recognized with an allowance | 169,458 | 277,753 | 289,073 |
Interest income collected with an allowance | 176,820 | 299,455 | 290,735 |
Unpaid contractual principal balance | 24,579,953 | 26,483,354 | 31,292,155 |
Impaired balance | 24,473,281 | 25,997,043 | 30,661,495 |
Average recorded investment | 23,704,956 | 27,200,597 | 31,375,949 |
Interest income recognized | 1,073,329 | 1,159,470 | 1,000,633 |
Interest income collected | 1,125,566 | 1,200,581 | 1,126,191 |
Commercial and Agricultural Portfolio Segment [Member] | Commercial [Member] | |||
Unpaid contractual principal balance with no related allowance | 595,323 | 598,305 | 634,955 |
Impaired balance with no related allowance | 595,323 | 598,305 | 634,955 |
Average recorded investment with no related allowance | 525,463 | 633,528 | 539,099 |
Interest income recognized with no related allowance | 21,350 | 33,283 | 24,563 |
Interest income collected with no related allowance | 23,985 | 33,868 | 27,142 |
Unpaid contractual principal balance with an allowance | 41,762 | 0 | |
Impaired balance with an allowance | 41,762 | 0 | |
Related allowance | 6,264 | 0 | |
Average recorded investment with an allowance | 8,352 | 30,270 | |
Interest income recognized with an allowance | 2,154 | 0 | |
Interest income collected with an allowance | 2,247 | 0 | |
Unpaid contractual principal balance | 637,085 | 598,305 | 634,955 |
Impaired balance | 637,085 | 598,305 | 634,955 |
Average recorded investment | 533,815 | 633,528 | 569,369 |
Interest income recognized | 23,504 | 33,283 | 24,563 |
Interest income collected | 26,232 | 33,868 | 27,142 |
Commercial and Agricultural Portfolio Segment [Member] | Agricultural [Member] | |||
Unpaid contractual principal balance with no related allowance | 433,915 | 485,132 | 229,182 |
Impaired balance with no related allowance | 413,254 | 398,509 | 208,522 |
Average recorded investment with no related allowance | 382,978 | 296,578 | 210,372 |
Interest income recognized with no related allowance | 17,949 | 11,046 | 8,794 |
Interest income collected with no related allowance | 24,825 | 19,376 | 12,412 |
Unpaid contractual principal balance with an allowance | 0 | 0 | 0 |
Impaired balance with an allowance | 0 | 0 | 0 |
Related allowance | 0 | 0 | 0 |
Average recorded investment with an allowance | 0 | 0 | 0 |
Interest income recognized with an allowance | 0 | 0 | 0 |
Interest income collected with an allowance | 0 | 0 | 0 |
Unpaid contractual principal balance | 433,915 | 485,132 | 229,182 |
Impaired balance | 413,254 | 398,509 | 208,522 |
Average recorded investment | 382,978 | 296,578 | 210,372 |
Interest income recognized | 17,949 | 11,046 | 8,794 |
Interest income collected | 24,825 | 19,376 | 12,412 |
Real Estate Portfolio Segment [Member] | Commercial [Member] | |||
Unpaid contractual principal balance with no related allowance | 12,163,915 | 12,637,057 | 14,357,601 |
Impaired balance with no related allowance | 12,163,915 | 12,637,057 | 14,276,688 |
Average recorded investment with no related allowance | 11,039,755 | 12,808,414 | 14,274,719 |
Interest income recognized with no related allowance | 581,836 | 559,601 | 567,349 |
Interest income collected with no related allowance | 582,893 | 549,825 | 560,354 |
Unpaid contractual principal balance with an allowance | 3,691,010 | 5,729,300 | 8,557,582 |
Impaired balance with an allowance | 3,691,010 | 5,729,300 | 8,467,135 |
Related allowance | 1,275,837 | 1,712,557 | 3,021,943 |
Average recorded investment with an allowance | 5,120,933 | 6,599,144 | 8,339,666 |
Interest income recognized with an allowance | 135,042 | 228,745 | 238,684 |
Interest income collected with an allowance | 141,978 | 237,066 | 235,749 |
Unpaid contractual principal balance | 15,854,925 | 18,366,357 | 22,915,183 |
Impaired balance | 15,854,925 | 18,366,357 | 22,743,823 |
Average recorded investment | 16,160,688 | 19,407,558 | 22,614,385 |
Interest income recognized | 716,878 | 788,346 | 806,033 |
Interest income collected | 724,871 | 786,891 | 796,103 |
Real Estate Portfolio Segment [Member] | Commercial Construction [Member] | |||
Unpaid contractual principal balance with no related allowance | 132,366 | 54,306 | 190,494 |
Impaired balance with no related allowance | 132,366 | 54,306 | 190,494 |
Average recorded investment with no related allowance | 69,396 | 141,396 | 697,893 |
Interest income recognized with no related allowance | 7,806 | 3,526 | 6,630 |
Interest income collected with no related allowance | 7,966 | 3,836 | 7,127 |
Unpaid contractual principal balance with an allowance | 398,930 | 493,067 | 72,296 |
Impaired balance with an allowance | 398,930 | 493,067 | 72,296 |
Related allowance | 38,930 | 65,635 | 21,135 |
Average recorded investment with an allowance | 465,929 | 241,063 | 74,098 |
Interest income recognized with an allowance | 0 | 22,626 | 1,532 |
Interest income collected with an allowance | 0 | 32,922 | 1,416 |
Unpaid contractual principal balance | 531,296 | 547,373 | 262,790 |
Impaired balance | 531,296 | 547,373 | 262,790 |
Average recorded investment | 535,325 | 382,459 | 771,991 |
Interest income recognized | 7,806 | 26,152 | 8,162 |
Interest income collected | 7,966 | 36,758 | 8,543 |
Real Estate Portfolio Segment [Member] | Residential Construction [Member] | |||
Unpaid contractual principal balance with no related allowance | 0 | 0 | |
Impaired balance with no related allowance | 0 | 0 | |
Average recorded investment with no related allowance | 0 | 79,295 | |
Interest income recognized with no related allowance | 0 | 0 | |
Interest income collected with no related allowance | 0 | 0 | |
Unpaid contractual principal balance with an allowance | 0 | 0 | |
Impaired balance with an allowance | 0 | 0 | |
Related allowance | 0 | 0 | |
Average recorded investment with an allowance | 0 | 0 | |
Interest income recognized with an allowance | 0 | 0 | |
Interest income collected with an allowance | 0 | 0 | |
Unpaid contractual principal balance | 0 | 0 | |
Impaired balance | 0 | 0 | |
Average recorded investment | 0 | 79,295 | |
Interest income recognized | 0 | 0 | |
Interest income collected | 0 | 0 | |
Real Estate Portfolio Segment [Member] | Residential [Member] | |||
Unpaid contractual principal balance with no related allowance | 4,214,354 | 4,977,769 | 4,261,558 |
Impaired balance with no related allowance | 4,129,876 | 4,579,614 | 3,952,139 |
Average recorded investment with no related allowance | 4,067,529 | 4,566,041 | 4,553,322 |
Interest income recognized with no related allowance | 208,138 | 211,318 | 73,099 |
Interest income collected with no related allowance | 212,509 | 226,684 | 190,373 |
Unpaid contractual principal balance with an allowance | 274,198 | 108,859 | 1,475,594 |
Impaired balance with an allowance | 274,198 | 108,859 | 1,467,833 |
Related allowance | 60,716 | 27,123 | 362,521 |
Average recorded investment with an allowance | 97,902 | 482,228 | 1,042,750 |
Interest income recognized with an allowance | 8,187 | 4,261 | 27,759 |
Interest income collected with an allowance | 8,180 | 7,446 | 32,260 |
Unpaid contractual principal balance | 4,488,552 | 5,086,628 | 5,737,152 |
Impaired balance | 4,404,074 | 4,688,473 | 5,419,972 |
Average recorded investment | 4,165,431 | 5,048,269 | 5,596,072 |
Interest income recognized | 216,325 | 215,579 | 100,858 |
Interest income collected | 220,689 | 234,130 | 222,633 |
Real Estate Portfolio Segment [Member] | Farmland [Member] | |||
Unpaid contractual principal balance with no related allowance | 2,054,137 | 840,110 | 920,666 |
Impaired balance with no related allowance | 2,052,604 | 838,577 | 799,556 |
Average recorded investment with no related allowance | 1,361,278 | 790,967 | 1,016,395 |
Interest income recognized with no related allowance | 52,974 | 54,367 | 21,526 |
Interest income collected with no related allowance | 81,962 | 58,085 | 26,012 |
Unpaid contractual principal balance with an allowance | 363,566 | 371,376 | 379,851 |
Impaired balance with an allowance | 363,566 | 371,376 | 379,851 |
Related allowance | 35,984 | 21,369 | 29,173 |
Average recorded investment with an allowance | 367,425 | 375,595 | 384,056 |
Interest income recognized with an allowance | 24,075 | 22,121 | 21,098 |
Interest income collected with an allowance | 24,415 | 22,021 | 21,310 |
Unpaid contractual principal balance | 2,417,703 | 1,211,486 | 1,300,517 |
Impaired balance | 2,416,170 | 1,209,953 | 1,179,407 |
Average recorded investment | 1,728,703 | 1,166,562 | 1,400,451 |
Interest income recognized | 77,049 | 76,488 | 42,624 |
Interest income collected | 106,377 | 80,106 | 47,322 |
Consumer and Other Portfolio Segment [Member] | Consumer [Member] | |||
Unpaid contractual principal balance with no related allowance | 212,524 | 188,073 | 212,376 |
Impaired balance with no related allowance | 212,524 | 188,073 | 212,026 |
Average recorded investment with no related allowance | 197,225 | 186,348 | 213,309 |
Interest income recognized with no related allowance | 13,614 | 8,576 | 9,599 |
Interest income collected with no related allowance | 14,373 | 9,452 | 12,036 |
Unpaid contractual principal balance with an allowance | 0 | 0 | 0 |
Impaired balance with an allowance | 0 | 0 | 0 |
Related allowance | 0 | 0 | 0 |
Average recorded investment with an allowance | 0 | 0 | 0 |
Interest income recognized with an allowance | 0 | 0 | 0 |
Interest income collected with an allowance | 0 | 0 | 0 |
Unpaid contractual principal balance | 212,524 | 188,073 | 212,376 |
Impaired balance | 212,524 | 188,073 | 212,026 |
Average recorded investment | 197,225 | 186,348 | 213,309 |
Interest income recognized | 13,614 | 8,576 | 9,599 |
Interest income collected | 14,373 | $ 9,452 | $ 12,036 |
Consumer and Other Portfolio Segment [Member] | Other [Member] | |||
Unpaid contractual principal balance with no related allowance | 3,953 | ||
Impaired balance with no related allowance | 3,953 | ||
Average recorded investment with no related allowance | 791 | ||
Interest income recognized with no related allowance | 204 | ||
Interest income collected with no related allowance | 233 | ||
Unpaid contractual principal balance with an allowance | 0 | ||
Impaired balance with an allowance | 0 | ||
Related allowance | 0 | ||
Average recorded investment with an allowance | 0 | ||
Interest income recognized with an allowance | |||
Interest income collected with an allowance | 0 | ||
Unpaid contractual principal balance | 3,953 | ||
Impaired balance | 3,953 | ||
Average recorded investment | 791 | ||
Interest income recognized | 204 | ||
Interest income collected | $ 233 |
Note 5 - Loans - Modified in a
Note 5 - Loans - Modified in a Troubled Debt Restructuring (Details) | 12 Months Ended | ||
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Number of contracts | 0 | 2 | |
Pre-modification | $ 446,064 | ||
Post-modification | $ 445,881 | ||
Real Estate Portfolio Segment [Member] | Commercial [Member] | |||
Number of contracts | 1 | 1 | |
Pre-modification | $ 402,430 | $ 91,280 | |
Post-modification | $ 402,430 | $ 91,097 | |
Real Estate Portfolio Segment [Member] | Residential [Member] | |||
Number of contracts | 1 | ||
Pre-modification | $ 354,784 | ||
Post-modification | $ 354,784 |
Note 5 - Loans - Loans Modified
Note 5 - Loans - Loans Modified in a Troubled Debt Restructuring (Details) | 12 Months Ended | ||
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Number of Contracts | 1 | 1 | |
Recorded Investment | $ 131,067 | $ 89,297 | |
Real Estate Portfolio Segment [Member] | Residential [Member] | |||
Number of Contracts | 1 | 1 | |
Recorded Investment | $ 131,067 | $ 89,297 |
Note 6 - Allowance for Loan L_3
Note 6 - Allowance for Loan Losses (Details Textual) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) |
Loan Balance For Reviewing High Risk Loans Minimum | $ 250,000 | |||
Loans and Leases Receivable, Gross, Total | 782,027,368 | $ 765,283,855 | $ 754,283,563 | |
Loans and Leases Receivable, Allowance, Ending Balance | $ 7,276,806 | 7,507,508 | 8,923,293 | $ 8,603,905 |
Impaired Financing Receivable, Number of Loans Below Review Threshold | 148 | |||
Impaired Financing Receivable Recorded Investment Below Review Threshold | $ 4,257,258 | 4,335,524 | $ 4,204,156 | |
Substandard [Member] | ||||
Loans and Leases Receivable, Gross, Total | 22,788,355 | 21,932,186 | ||
Loans Not Classified as Impaired [Member] | Substandard [Member] | ||||
Loans and Leases Receivable, Gross, Total | 8,875,310 | 9,470,621 | ||
Loans and Leases Receivable, Allowance, Ending Balance | $ 1,312,154 | $ 1,510,868 |
Note 6 - Allowance for Loan L_4
Note 6 - Allowance for Loan Losses - Changes in the Allowance for Loan Losses (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Balance, Beginning of Year | $ 7,507,508 | $ 8,923,293 | $ 8,603,905 |
Provision for Loan Losses | 200,500 | 390,000 | 1,062,000 |
Loans Charged Off | (965,447) | (2,915,753) | (2,087,850) |
Recoveries of Loans Previously Charged Off | 534,245 | 1,109,968 | 1,345,238 |
Balance, End of Year | $ 7,276,806 | $ 7,507,508 | $ 8,923,293 |
Note 6 - Allowance for Loan L_5
Note 6 - Allowance for Loan Losses - Segregated by Class of Loan (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Allowance for loan losses, beginning balance | $ 7,507,508 | $ 8,923,293 | $ 8,603,905 |
Allowance for loan losses, charge-offs | (965,447) | (2,915,753) | (2,087,850) |
Allowance for loan losses, recoveries | 534,245 | 1,109,968 | 1,345,238 |
Allowance for loan losses, provision | 200,500 | 390,000 | 1,062,000 |
Allowance for loan losses, ending balance | 7,276,806 | 7,507,508 | 8,923,293 |
Provision for Loan Losses | 200,500 | 390,000 | 1,062,000 |
Provision for Loan Losses | 200,500 | 390,000 | 1,062,000 |
Commercial [Member] | Commercial and Agricultural Portfolio Segment [Member] | |||
Allowance for loan losses, beginning balance | 446,675 | 456,197 | 855,364 |
Allowance for loan losses, charge-offs | (123,528) | (299,079) | (304,918) |
Allowance for loan losses, recoveries | 139,466 | 136,499 | 66,738 |
Allowance for loan losses, provision | (93,049) | 153,058 | (160,987) |
Allowance for loan losses, ending balance | 369,564 | 446,675 | 456,197 |
Provision for Loan Losses | (93,049) | 153,058 | (160,987) |
Provision for Loan Losses | (93,049) | 153,058 | (160,987) |
Commercial [Member] | Real Estate Portfolio Segment [Member] | |||
Allowance for loan losses, beginning balance | 3,873,959 | 5,750,998 | 3,850,527 |
Allowance for loan losses, charge-offs | (257,424) | (966,014) | (992,067) |
Allowance for loan losses, recoveries | 40,052 | 527,150 | 206,154 |
Allowance for loan losses, provision | 892,523 | (1,438,175) | 2,686,384 |
Allowance for loan losses, ending balance | 4,549,110 | 3,873,959 | 5,750,998 |
Provision for Loan Losses | 892,523 | (1,438,175) | 2,686,384 |
Provision for Loan Losses | 892,523 | (1,438,175) | 2,686,384 |
Agricultural [Member] | Commercial and Agricultural Portfolio Segment [Member] | |||
Allowance for loan losses, beginning balance | 185,904 | 167,692 | 203,091 |
Allowance for loan losses, charge-offs | (122,873) | (159,500) | (19,258) |
Allowance for loan losses, recoveries | 22,031 | 3,963 | 4,150 |
Allowance for loan losses, provision | 163,188 | 173,749 | (20,291) |
Allowance for loan losses, ending balance | 248,250 | 185,904 | 167,692 |
Provision for Loan Losses | 163,188 | 173,749 | (20,291) |
Provision for Loan Losses | 163,188 | 173,749 | (20,291) |
Commercial Construction [Member] | Real Estate Portfolio Segment [Member] | |||
Allowance for loan losses, beginning balance | 1,216,015 | 322,725 | 690,766 |
Allowance for loan losses, charge-offs | (51,977) | (25,318) | |
Allowance for loan losses, recoveries | 155,272 | 266,459 | 814,586 |
Allowance for loan losses, provision | (1,256,413) | 678,808 | (1,157,309) |
Allowance for loan losses, ending balance | 114,874 | 1,216,015 | 322,725 |
Provision for Loan Losses | (1,256,413) | 678,808 | (1,157,309) |
Provision for Loan Losses | (1,256,413) | 678,808 | (1,157,309) |
Residential Construction [Member] | Real Estate Portfolio Segment [Member] | |||
Allowance for loan losses, beginning balance | 13,491 | 19,890 | |
Allowance for loan losses, charge-offs | 0 | 0 | |
Allowance for loan losses, recoveries | 0 | 0 | 0 |
Allowance for loan losses, provision | 16,530 | (13,491) | (6,399) |
Allowance for loan losses, ending balance | 16,530 | 13,491 | |
Provision for Loan Losses | 16,530 | (13,491) | (6,399) |
Provision for Loan Losses | 16,530 | (13,491) | (6,399) |
Residential [Member] | Real Estate Portfolio Segment [Member] | |||
Allowance for loan losses, beginning balance | 968,101 | 1,396,099 | 1,990,355 |
Allowance for loan losses, charge-offs | (162,235) | (1,048,337) | (361,630) |
Allowance for loan losses, recoveries | 90,703 | 82,079 | 49,660 |
Allowance for loan losses, provision | 284,483 | 538,260 | (282,286) |
Allowance for loan losses, ending balance | 1,181,052 | 968,101 | 1,396,099 |
Provision for Loan Losses | 284,483 | 538,260 | (282,286) |
Provision for Loan Losses | 284,483 | 538,260 | (282,286) |
Farmland [Member] | Real Estate Portfolio Segment [Member] | |||
Allowance for loan losses, beginning balance | 779,531 | 722,331 | 911,692 |
Allowance for loan losses, charge-offs | (60,902) | (119,576) | |
Allowance for loan losses, recoveries | 12,228 | 16,750 | 145,000 |
Allowance for loan losses, provision | (90,210) | 101,352 | (214,785) |
Allowance for loan losses, ending balance | 701,549 | 779,531 | 722,331 |
Provision for Loan Losses | (90,210) | 101,352 | (214,785) |
Provision for Loan Losses | (90,210) | 101,352 | (214,785) |
Consumer [Member] | Consumer and Other Portfolio Segment [Member] | |||
Allowance for loan losses, beginning balance | 33,993 | 80,265 | 63,377 |
Allowance for loan losses, charge-offs | (299,387) | (329,944) | (265,083) |
Allowance for loan losses, recoveries | 72,386 | 74,933 | 52,629 |
Allowance for loan losses, provision | 279,121 | 208,739 | 229,342 |
Allowance for loan losses, ending balance | 86,113 | 33,993 | 80,265 |
Provision for Loan Losses | 279,121 | 208,739 | 229,342 |
Provision for Loan Losses | 279,121 | 208,739 | 229,342 |
Other [Member] | Consumer and Other Portfolio Segment [Member] | |||
Allowance for loan losses, beginning balance | 3,330 | 13,495 | 18,843 |
Allowance for loan losses, charge-offs | 0 | ||
Allowance for loan losses, recoveries | 2,107 | 2,135 | 6,321 |
Allowance for loan losses, provision | 4,327 | (12,300) | (11,669) |
Allowance for loan losses, ending balance | 9,764 | 3,330 | 13,495 |
Provision for Loan Losses | 4,327 | (12,300) | (11,669) |
Provision for Loan Losses | $ 4,327 | $ (12,300) | $ (11,669) |
Note 6 - Allowance for Loan L_6
Note 6 - Allowance for Loan Losses - Segregated by Impairment Methodology (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Ending allowance balance, individually evaluated for impairment | $ 1,417,731 | $ 1,826,684 | $ 3,434,772 | |
Ending allowance balance, collectively evaluated for impairment | 5,859,075 | 5,680,824 | 5,488,521 | |
Ending allowance balance | 7,276,806 | 7,507,508 | 8,923,293 | $ 8,603,905 |
Ending loan balance, individually evaluated for impairment | 20,216,023 | 21,661,519 | 26,457,339 | |
Ending loan balance, collectively evaluated for impairment | 761,811,345 | 743,622,336 | 727,826,224 | |
Loans | 782,027,368 | 765,283,855 | 754,283,563 | |
Commercial [Member] | Commercial and Agricultural Portfolio Segment [Member] | ||||
Ending allowance balance, individually evaluated for impairment | 6,264 | |||
Ending allowance balance, collectively evaluated for impairment | 363,300 | 446,675 | 456,197 | |
Ending allowance balance | 369,564 | 446,675 | 456,197 | 855,364 |
Ending loan balance, individually evaluated for impairment | 83,309 | 77,599 | 6,671 | |
Ending loan balance, collectively evaluated for impairment | 57,327,164 | 48,044,664 | 47,018,207 | |
Loans | 57,410,473 | 48,122,263 | 47,024,878 | |
Commercial [Member] | Real Estate Portfolio Segment [Member] | ||||
Ending allowance balance, individually evaluated for impairment | 1,275,837 | 1,712,557 | 3,021,943 | |
Ending allowance balance, collectively evaluated for impairment | 3,273,273 | 2,161,402 | 2,729,055 | |
Ending allowance balance | 4,549,110 | 3,873,959 | 5,750,998 | 3,850,527 |
Ending loan balance, individually evaluated for impairment | 15,413,112 | 18,010,035 | 22,422,451 | |
Ending loan balance, collectively evaluated for impairment | 358,120,450 | 333,161,633 | 326,667,580 | |
Loans | 373,533,562 | 351,171,668 | 349,090,031 | |
Agricultural [Member] | Commercial and Agricultural Portfolio Segment [Member] | ||||
Ending allowance balance, individually evaluated for impairment | 0 | |||
Ending allowance balance, collectively evaluated for impairment | 248,250 | 185,904 | 167,692 | |
Ending allowance balance | 248,250 | 185,904 | 167,692 | 203,091 |
Ending loan balance, individually evaluated for impairment | 27,031 | 5,121 | ||
Ending loan balance, collectively evaluated for impairment | 16,771,712 | 16,437,460 | 17,079,579 | |
Loans | 16,798,743 | 16,442,581 | 17,079,579 | |
Commercial Construction [Member] | Real Estate Portfolio Segment [Member] | ||||
Ending allowance balance, individually evaluated for impairment | 38,930 | 65,635 | 21,135 | |
Ending allowance balance, collectively evaluated for impairment | 75,944 | 1,150,380 | 301,590 | |
Ending allowance balance | 114,874 | 1,216,015 | 322,725 | 690,766 |
Ending loan balance, individually evaluated for impairment | 467,384 | 493,067 | 72,296 | |
Ending loan balance, collectively evaluated for impairment | 47,381,370 | 44,720,893 | 30,286,066 | |
Loans | 47,848,754 | 45,213,960 | 30,358,362 | |
Residential Construction [Member] | Real Estate Portfolio Segment [Member] | ||||
Ending allowance balance, individually evaluated for impairment | 0 | |||
Ending allowance balance, collectively evaluated for impairment | 16,530 | 13,491 | ||
Ending allowance balance | 16,530 | 13,491 | 19,890 | |
Ending loan balance, individually evaluated for impairment | 0 | |||
Ending loan balance, collectively evaluated for impairment | 12,499,744 | 8,583,446 | 11,830,447 | |
Loans | 12,499,744 | 8,583,446 | 11,830,447 | |
Residential [Member] | Real Estate Portfolio Segment [Member] | ||||
Ending allowance balance, individually evaluated for impairment | 60,716 | 27,123 | 362,522 | |
Ending allowance balance, collectively evaluated for impairment | 1,120,336 | 940,978 | 1,033,577 | |
Ending allowance balance | 1,181,052 | 968,101 | 1,396,099 | 1,990,355 |
Ending loan balance, individually evaluated for impairment | 2,067,906 | 2,040,125 | 2,911,874 | |
Ending loan balance, collectively evaluated for impairment | 185,646,466 | 192,008,820 | 192,668,093 | |
Loans | 187,714,372 | 194,048,945 | 195,579,967 | |
Farmland [Member] | Real Estate Portfolio Segment [Member] | ||||
Ending allowance balance, individually evaluated for impairment | 35,984 | 21,369 | 29,172 | |
Ending allowance balance, collectively evaluated for impairment | 665,565 | 758,162 | 693,159 | |
Ending allowance balance | 701,549 | 779,531 | 722,331 | 911,692 |
Ending loan balance, individually evaluated for impairment | 2,157,281 | 1,035,572 | 1,044,047 | |
Ending loan balance, collectively evaluated for impairment | 60,551,717 | 66,732,083 | 65,833,150 | |
Loans | 62,708,998 | 67,767,655 | 66,877,197 | |
Consumer [Member] | Consumer and Other Portfolio Segment [Member] | ||||
Ending allowance balance, individually evaluated for impairment | 0 | |||
Ending allowance balance, collectively evaluated for impairment | 86,113 | 33,993 | 80,265 | |
Ending allowance balance | 86,113 | 33,993 | 80,265 | 63,377 |
Ending loan balance, individually evaluated for impairment | 0 | |||
Ending loan balance, collectively evaluated for impairment | 18,485,199 | 18,956,028 | 19,695,241 | |
Loans | 18,485,199 | 18,956,028 | 19,695,241 | |
Other [Member] | Consumer and Other Portfolio Segment [Member] | ||||
Ending allowance balance, individually evaluated for impairment | 0 | |||
Ending allowance balance, collectively evaluated for impairment | 9,764 | 3,330 | 13,495 | |
Ending allowance balance | 9,764 | 3,330 | 13,495 | $ 18,843 |
Ending loan balance, individually evaluated for impairment | 0 | |||
Ending loan balance, collectively evaluated for impairment | 5,027,523 | 14,977,309 | 16,747,861 | |
Loans | $ 5,027,523 | $ 14,977,309 | $ 16,747,861 |
Note 7 - Premises and Equipme_3
Note 7 - Premises and Equipment (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Depreciation, Total | $ 1,786,652 | $ 1,647,813 | $ 1,574,249 |
Operating Leases, Rent Expense, Net, Total | $ 443,000 | $ 427,000 | $ 437,000 |
Note 7 - Premises and Equipme_4
Note 7 - Premises and Equipment - Premises and Equipment (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Premise and Equipment, Gross | $ 51,539,534 | $ 50,375,861 |
Accumulated Depreciation | (22,708,262) | (22,736,431) |
28,831,272 | 27,639,430 | |
Land [Member] | ||
Premise and Equipment, Gross | 10,934,885 | 9,668,722 |
Building [Member] | ||
Premise and Equipment, Gross | 26,544,689 | 26,893,354 |
Furniture and Fixtures [Member] | ||
Premise and Equipment, Gross | 12,782,042 | 13,090,366 |
Leasehold Improvements [Member] | ||
Premise and Equipment, Gross | 696,529 | 655,166 |
Construction in Progress [Member] | ||
Premise and Equipment, Gross | $ 581,389 | $ 68,253 |
Note 7 - Premises and Equipme_5
Note 7 - Premises and Equipment - Future Minimum Rental Payments (Details) | Dec. 31, 2018USD ($) |
2019 | $ 63,480 |
2020 | 42,000 |
2021 | 42,000 |
2022 | 38,500 |
2023 and Thereafter | |
$ 185,980 |
Note 8 - Other Real Estate Ow_3
Note 8 - Other Real Estate Owned (Details Textual) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Other Real Estate, Ending Balance | $ 1,840,743 | $ 4,256,469 | $ 6,439,226 | $ 8,839,103 |
Other Real Estate, Foreclosed Assets, and Repossessed Assets, Total | 564,748 | |||
Mortgage Loans in Process of Foreclosure, Amount | $ 25,069 |
Note 8 - Other Real Estate Ow_4
Note 8 - Other Real Estate Owned - Change in OREO (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Balance, Beginning of Year | $ 4,256,469 | $ 6,439,226 | $ 8,839,103 |
Additions | 792,459 | 1,724,936 | 5,664,554 |
Sales of OREO | (2,949,283) | (3,786,567) | (7,416,293) |
Transfer to Bank Premises | (300,000) | ||
Gain/(Loss) on Sale | 303,139 | 212,641 | (146,402) |
Provision for Losses | (262,041) | (333,767) | (501,736) |
Balance, End of Year | $ 1,840,743 | $ 4,256,469 | $ 6,439,226 |
Note 9 - Other Intangible Ass_3
Note 9 - Other Intangible Assets (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Core Deposits [Member] | |||
Amortization of Intangible Assets, Total | $ 48,193 | $ 35,749 | $ 35,749 |
Note 9 - Other Intangible Ass_4
Note 9 - Other Intangible Assets - Analysis of the Core Deposit Intangible Activity (Details) - Core Deposits [Member] - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Acquired Intangible Assets, Gross, Balance | $ 1,616,693 | $ 1,056,693 | $ 1,056,693 |
Acquired Intangible Assets, Accumulated Amortization | (1,060,120) | (1,011,927) | (976,178) |
Acquired Intangible Assets, Net | 556,573 | 44,766 | 80,515 |
Amortization Expense | (48,193) | $ (35,749) | $ (35,749) |
Addition | $ 560,000 |
Note 9 - Other Intangible Ass_5
Note 9 - Other Intangible Assets - Estimated Future Amortization Expense (Details) - Core Deposits [Member] - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
2019 | $ 83,684 | ||
2020 | 74,667 | ||
2021 | 74,667 | ||
2022 | 74,667 | ||
2023 | 74,667 | ||
Thereafter | 174,221 | ||
$ 556,573 | $ 44,766 | $ 80,515 |
Note 10 - Income Taxes (Details
Note 10 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 2,040,946 | $ 2,040,946 | ||
Federal Income Tax Expense (Benefit), Continuing Operations, Total | $ 3,000,270 | $ 6,777,453 | $ 3,851,333 |
Note 10 - Income Taxes - Compon
Note 10 - Income Taxes - Components of Income Tax (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Current Federal Expense | $ 2,727,094 | $ 3,943,495 | $ 3,629,213 | |
Deferred Federal Expense | 273,176 | 793,012 | 222,120 | |
Deferred Tax Expense from Tax Rate Changes | $ 2,040,946 | 2,040,946 | ||
Federal Income Tax Expense | 3,000,270 | 6,777,453 | 3,851,333 | |
Current State Income Tax Expense | ||||
Federal and State Income Tax Expense | $ 3,000,270 | $ 6,777,453 | $ 3,851,333 |
Note 10 - Income Taxes - Differ
Note 10 - Income Taxes - Difference Between Financial Statement Tax Expense and Amount Computer by Applying Statutory Federal Tax Rate to Income Before Income Taxes (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Statutory Federal Income Taxes | $ 3,132,711 | $ 4,954,199 | $ 4,283,394 |
Tax-Exempt Interest | (57,271) | (102,345) | (109,759) |
Income from Cash Value Life Insurance, net of premiums | (96,733) | (198,730) | (182,532) |
Meal and Entertainment Disallowance | 9,578 | 14,354 | 16,813 |
Other | 11,985 | 69,029 | (156,583) |
Tax Expense from Tax Rate Changes | 2,040,946 | ||
Federal Income Tax Expense | $ 3,000,270 | $ 6,777,453 | $ 3,851,333 |
Note 10 - Income Taxes - Deferr
Note 10 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Deferred Tax Assets | ||
Allowance for Loan Losses | $ 1,528,129 | $ 1,576,577 |
Other Real Estate | 183,997 | 304,813 |
Deferred Compensation | 148,402 | 161,000 |
Core Deposit Intangible | 1,307 | |
Investments | 210,000 | 210,000 |
Goodwill | 48,086 | 76,058 |
Restricted Stock | 2,917 | |
Other | 201,574 | 237,591 |
2,324,412 | 2,566,039 | |
Deferred Tax Liabilities | ||
Premises and Equipment | (1,023,090) | (995,190) |
Other | (6,234) | (2,585) |
(1,029,324) | (997,775) | |
Deferred Tax Assets (Liabilities) on Unrealized Securities Gains (Losses) | 2,177,113 | 1,725,708 |
Net Deferred Tax Assets | $ 3,472,201 | $ 3,293,972 |
Note 11 - Deposits (Details Tex
Note 11 - Deposits (Details Textual) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Deposit Liabilities Reclassified as Loans Receivable | $ 476,182 | $ 475,161 |
Interest-bearing Domestic Deposit, Brokered | 80,535,032 | 46,328,995 |
Time Deposits, at or Above FDIC Insurance Limit | $ 53,881,417 | $ 38,919,469 |
Note 11 - Deposits - Components
Note 11 - Deposits - Components of Interest-bearing Deposits (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Interest-Bearing Demand | $ 471,794,491 | $ 458,717,332 |
Savings | 79,452,705 | 78,172,441 |
Time, $250,000 and Over | 53,881,417 | 38,919,469 |
Other Time | 287,149,453 | 301,248,235 |
$ 892,278,066 | $ 877,057,477 |
Note 11 - Deposits - Scheduled
Note 11 - Deposits - Scheduled Maturities of Certificates of Deposit (Details) | Dec. 31, 2018USD ($) |
2019 | $ 241,365,987 |
2020 | 45,279,800 |
2021 | 37,132,339 |
2022 | 8,423,379 |
2023 | 8,788,583 |
Thereafter | 40,782 |
$ 341,030,870 |
Note 12 - Other Borrowed Mone_2
Note 12 - Other Borrowed Money (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | |
Nov. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Collateral Pledged | $ 108,634,687 | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | 252,071,000 | ||
Federal Home Loan Bank, Advances, Maturities Summary, Fixed Rate, Total | 10,500,000 | ||
Federal Home Loan Bank, Advances, Maturities Summary, Floating Rate, Total | 33,500,000 | ||
Line of Credit Facility, Current Borrowing Capacity | 43,500,000 | ||
Long-term Line of Credit, Total | 0 | ||
Notes Payable to Banks [Member] | |||
Short-term Debt, Total | $ 5,000,000 | ||
Debt Instrument, Term | 1 year | ||
Repayments of Short-term Debt, Total | $ 3,500,000 | ||
Notes Payable to Banks [Member] | Prime Rate [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 0.75% | ||
Debt Instrument, Interest Rate, Stated Percentage | 5.25% | ||
Federal Reserve Bank Advances [Member] | |||
Short-term Debt, Total | $ 0 | ||
Minimum [Member] | |||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Interest Rate at Period End | 0.98% | ||
Maximum [Member] | |||
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Interest Rate at Period End | 3.51% |
Note 12 - Other Borrowed Mone_3
Note 12 - Other Borrowed Money - Summary of Other Borrowed Money (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Federal Home Loan Bank Advances | $ 44,000,000 | $ 46,000,000 |
Other Borrowings | 1,500,000 | |
$ 44,000,000 | $ 47,500,000 |
Note 12 - Other Borrowed Mone_4
Note 12 - Other Borrowed Money - Aggregate Stated Maturities (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
$ 44,000,000 | $ 46,000,000 | |
Other Borrowings [Member] | ||
2019 | 5,000,000 | |
2020 | 2,500,000 | |
2021 | ||
2022 | 18,000,000 | |
2023 | 6,000,000 | |
2024 and Thereafter | 12,500,000 | |
$ 44,000,000 |
Note 13 - Subordinated Debent_3
Note 13 - Subordinated Debentures (Trusted Preferred Securities) - Schedule of Subordinated Debentures (Details) - Trust Preferred Securities Subject to Mandatory Redemption [Member] $ in Thousands | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Colony Bankcorp Statutory Trust III [Member] | |
Issuance date | Jun. 17, 2004 |
Debt amount | $ 4,640 |
Total interest rate | 5.46819% |
Maturity date | Jun. 14, 2034 |
5 year call option | Jun. 17, 2009 |
Colony Bankcorp Statutory Trust III [Member] | London Interbank Offered Rate (LIBOR) [Member] | |
3 month LIBOR rate | 2.78819% |
Added points | 0.0268% |
Colony Bankcorp Capital Trust I [Member] | |
Issuance date | Apr. 13, 2006 |
Debt amount | $ 5,155 |
Total interest rate | 4.303% |
Maturity date | Apr. 13, 2036 |
5 year call option | Apr. 13, 2011 |
Colony Bankcorp Capital Trust I [Member] | London Interbank Offered Rate (LIBOR) [Member] | |
3 month LIBOR rate | 2.803% |
Added points | 0.015% |
Colony Bankcorp Capital Trust II [Member] | |
Issuance date | Mar. 12, 2007 |
Debt amount | $ 9,279 |
Total interest rate | 4.453% |
Maturity date | Mar. 12, 2037 |
5 year call option | Mar. 12, 2012 |
Colony Bankcorp Capital Trust II [Member] | London Interbank Offered Rate (LIBOR) [Member] | |
3 month LIBOR rate | 2.803% |
Added points | 0.0165% |
Colony Bankcorp Capital Trust III [Member] | |
Issuance date | Sep. 14, 2007 |
Debt amount | $ 5,155 |
Total interest rate | 3.92038% |
Maturity date | Sep. 14, 2037 |
5 year call option | Sep. 14, 2012 |
Colony Bankcorp Capital Trust III [Member] | London Interbank Offered Rate (LIBOR) [Member] | |
3 month LIBOR rate | 2.52038% |
Added points | 0.014% |
Note 14 - Preferred Stock and_2
Note 14 - Preferred Stock and Warrant (Details Textual) - USD ($) | Jun. 05, 2018 | Mar. 31, 2017 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 500,000 | 500,000 | |||||
Payments for Repurchase of Warrants | $ 3,175,000 | $ 3,200,000 | $ 3,175,000 | ||||
Warrants and Rights Outstanding | $ 0 | ||||||
Series A Preferred Stock [Member] | |||||||
Stock Redeemed or Called During Period, Shares | 9,360 | 9,360 | 8,661 | 9,979 | |||
Preferred Stock, Redemption Price Per Share | $ 1,000 | $ 1,000 | |||||
Preferred Stock, Shares Outstanding, Ending Balance | 0 |
Note 15 - Employee Benefit Pl_2
Note 15 - Employee Benefit Plan (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Employee Service Period | 6 years | ||
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 709,723 | $ 686,580 | $ 408,303 |
Note 16 - Commitments and Con_3
Note 16 - Commitments and Contingencies (Details Textual) | 12 Months Ended |
Dec. 31, 2018 | |
Expiration Period Of Letter Of Credit Issued | 1 year |
Note 16 - Commitments and Con_4
Note 16 - Commitments and Contingencies - Financial Instruments Outstanding Whose Contract Amount Represents Credit Risk (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Standby Letters of Credit | $ 1,525,000 | $ 1,536,000 |
Loan Origination Commitments [Member] | ||
Commitments to Extend Credit | $ 98,736,000 | $ 96,374,000 |
Note 17 - Deferred Compensati_2
Note 17 - Deferred Compensation Plan (Details Textual) | 12 Months Ended | ||
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Minimum Age Requirement for Deferred Compensation | 65 | ||
Deferred Compensation Liability, Current and Noncurrent, Total | $ 706,677 | $ 766,667 | |
Defined Benefit Plan, Benefit Obligation, Benefits Paid | 107,850 | 110,080 | |
Pension and Other Postretirement Benefits Cost (Reversal of Cost), Total | 52,285 | 55,572 | $ 57,125 |
Fee Income Recognized With Deferred Compensation Plans | $ 135,218 | $ 233,064 | $ 165,128 |
Note 18 - Supplemental Cash F_3
Note 18 - Supplemental Cash Flow Information - Cash Payments (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Interest Expense | $ 8,186,946 | $ 6,851,541 | $ 6,529,615 |
Income Taxes | $ 2,695,000 | $ 4,000,000 | $ 3,365,000 |
Note 18 - Supplemental Cash F_4
Note 18 - Supplemental Cash Flow Information - Non-cash Financing and Investing Activities (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Acquisitions of Real Estate Through Loan Foreclosures | $ 792,459 | $ 1,724,936 | $ 5,664,554 |
Change in Unrealized Gain (Loss) on AFS Investment Securities | $ (2,149,545) | $ (608,355) | $ (890,590) |
Note 19 - Related Party Trans_3
Note 19 - Related Party Transactions - Activity of Related Party Loan (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Balance, Beginning | $ 744,637 | $ 1,025,543 |
New Loans | 97,690 | 1,050,393 |
Repayments | (166,997) | (1,106,606) |
Transactions Due to Changes in Directors | (224,693) | |
Balance, Ending | $ 675,330 | $ 744,637 |
Note 20 - Fair Value of Finan_3
Note 20 - Fair Value of Financial Instruments and Fair Value Measurements (Details Textual) | 12 Months Ended |
Dec. 31, 2018USD ($) | |
Discounted Rate To Account For Selling And Marketing Costs | 10.00% |
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers out of Level 3 | $ 2,009,080 |
Note 20 - Fair Value of Finan_4
Note 20 - Fair Value of Financial Instruments and Fair Value Measurements - Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Reported Value Measurement [Member] | ||
Cash and Short-Term Investments | $ 60,155 | $ 57,813 |
Investment Securities Available for Sale | 353,066 | 354,247 |
Federal Home Loan Bank Stock | 2,978 | 3,043 |
Loans, Net | 774,249 | 757,281 |
Bank-Owned Life Insurance | 17,598 | 17,089 |
Deposits | 1,085,125 | 1,067,985 |
Subordinated Debentures | 24,229 | 24,229 |
Other Borrowed Money | 44,000 | 47,500 |
Estimate of Fair Value Measurement [Member] | ||
Cash and Short-Term Investments | 60,155 | 57,813 |
Investment Securities Available for Sale | 353,066 | 354,247 |
Federal Home Loan Bank Stock | 2,978 | 3,043 |
Loans, Net | 769,809 | 757,163 |
Bank-Owned Life Insurance | 17,598 | 17,089 |
Deposits | 1,086,503 | 1,068,392 |
Subordinated Debentures | 24,229 | 24,229 |
Other Borrowed Money | 44,032 | 47,626 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and Short-Term Investments | 60,155 | 57,813 |
Investment Securities Available for Sale | ||
Federal Home Loan Bank Stock | 2,978 | 3,043 |
Loans, Net | ||
Bank-Owned Life Insurance | 17,598 | 17,089 |
Deposits | 744,094 | 727,818 |
Subordinated Debentures | ||
Other Borrowed Money | ||
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Cash and Short-Term Investments | ||
Investment Securities Available for Sale | 348,788 | 346,950 |
Federal Home Loan Bank Stock | ||
Loans, Net | 766,457 | 752,287 |
Bank-Owned Life Insurance | ||
Deposits | 342,409 | 340,574 |
Subordinated Debentures | 24,229 | 24,229 |
Other Borrowed Money | 44,032 | 47,626 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Cash and Short-Term Investments | ||
Investment Securities Available for Sale | 4,278 | 7,297 |
Federal Home Loan Bank Stock | ||
Loans, Net | 3,352 | 4,876 |
Bank-Owned Life Insurance | ||
Deposits | ||
Subordinated Debentures | ||
Other Borrowed Money |
Note 20 - Fair Value of Finan_5
Note 20 - Fair Value of Financial Instruments and Fair Value Measurements - Assets and Liabilities Measured at Fair Value on a Recurring and Nonrecurring Basis (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Recurring Securities Available for Sale | $ 353,066,166 | $ 354,246,904 |
Fair Value, Measurements, Recurring [Member] | ||
Recurring Securities Available for Sale | 353,066,166 | 354,246,904 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Recurring Securities Available for Sale | ||
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Recurring Securities Available for Sale | 348,788,598 | 346,949,407 |
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Recurring Securities Available for Sale | 4,277,568 | 7,297,497 |
Fair Value, Measurements, Nonrecurring [Member] | ||
Impaired Loans | 3,351,735 | 4,875,918 |
Other Real Estate | 1,182,783 | 2,014,904 |
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Impaired Loans | ||
Other Real Estate | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Impaired Loans | ||
Other Real Estate | ||
Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Impaired Loans | 3,351,735 | 4,875,918 |
Other Real Estate | 1,182,783 | 2,014,904 |
US Government Agencies Debt Securities [Member] | ||
Recurring Securities Available for Sale | 346,205,172 | 346,723,419 |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Recurring Securities Available for Sale | 346,205,172 | 346,723,419 |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Recurring Securities Available for Sale | ||
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Recurring Securities Available for Sale | 342,142,079 | 341,701,288 |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Recurring Securities Available for Sale | 4,063,093 | 5,022,131 |
US States and Political Subdivisions Debt Securities [Member] | ||
Recurring Securities Available for Sale | 3,989,109 | 4,492,826 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Recurring Securities Available for Sale | 3,989,109 | 4,492,826 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Recurring Securities Available for Sale | ||
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Recurring Securities Available for Sale | 3,774,634 | 4,277,460 |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Recurring Securities Available for Sale | 214,475 | 215,366 |
Corporate Debt Securities [Member] | ||
Recurring Securities Available for Sale | 2,871,885 | 2,060,000 |
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Recurring Securities Available for Sale | 2,871,885 | 2,060,000 |
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Recurring Securities Available for Sale | ||
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Recurring Securities Available for Sale | 2,871,885 | |
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Recurring Securities Available for Sale | 2,060,000 | |
Asset-backed Securities [Member] | ||
Recurring Securities Available for Sale | 970,659 | |
Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Recurring Securities Available for Sale | 970,659 | |
Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Recurring Securities Available for Sale | ||
Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Recurring Securities Available for Sale | 970,659 | |
Asset-backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Recurring Securities Available for Sale |
Note 20 - Fair Value of Finan_6
Note 20 - Fair Value of Financial Instruments and Fair Value Measurements - Quantitative Information for Financial Instruments Measured at Fair Value (Details) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) |
Other Real Estate Owned, fair value | $ 1,840,743 | $ 4,256,469 | $ 6,439,226 | $ 8,839,103 |
Fair Value, Measurements, Nonrecurring [Member] | ||||
Impaired loans, fair value | 3,351,735 | 4,875,918 | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||
Impaired loans, fair value | 3,351,735 | 4,875,918 | ||
Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||
Other Real Estate Owned, fair value | $ 1,182,783 | $ 2,014,904 | ||
Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Minimum [Member] | Measurement Input, Comparability Adjustment [Member] | ||||
Other Real Estate Owned, measurement input | (0.3) | (0.2274) | ||
Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Minimum [Member] | Measurement Input, Appraised Value [Member] | ||||
Other Real Estate Owned, measurement input | 9.82 | 0.0544 | ||
Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Maximum [Member] | Measurement Input, Comparability Adjustment [Member] | ||||
Other Real Estate Owned, measurement input | 25.02 | 0.15 | ||
Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Maximum [Member] | Measurement Input, Appraised Value [Member] | ||||
Other Real Estate Owned, measurement input | 99.39 | 0.8724 | ||
Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Weighted Average [Member] | Measurement Input, Comparability Adjustment [Member] | ||||
Other Real Estate Owned, measurement input | (2.49) | |||
Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Weighted Average [Member] | Measurement Input, Appraised Value [Member] | ||||
Other Real Estate Owned, measurement input | 35.26 | 0.2444 | ||
Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Weighted Average [Member] | Measurement Input, Cap Rate [Member] | ||||
Other Real Estate Owned, measurement input | 10 | 0.1 | ||
Real Estate Portfolio Segment [Member] | Commercial Construction [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||
Impaired loans, fair value | $ 360,000 | $ 427,433 | ||
Real Estate Portfolio Segment [Member] | Commercial Construction [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Minimum [Member] | Measurement Input, Comparability Adjustment [Member] | ||||
Impaired loans, measurement input | (0.066) | (0.16) | ||
Real Estate Portfolio Segment [Member] | Commercial Construction [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Minimum [Member] | Measurement Input, Appraised Value [Member] | ||||
Impaired loans, measurement input | 0 | 0 | ||
Real Estate Portfolio Segment [Member] | Commercial Construction [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Maximum [Member] | Measurement Input, Comparability Adjustment [Member] | ||||
Impaired loans, measurement input | 19.75 | 19.75 | ||
Real Estate Portfolio Segment [Member] | Commercial Construction [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Maximum [Member] | Measurement Input, Appraised Value [Member] | ||||
Impaired loans, measurement input | 0.1 | 0.1 | ||
Real Estate Portfolio Segment [Member] | Commercial Construction [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Weighted Average [Member] | Measurement Input, Comparability Adjustment [Member] | ||||
Impaired loans, measurement input | 9.842 | 9.795 | ||
Real Estate Portfolio Segment [Member] | Commercial Construction [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Weighted Average [Member] | Measurement Input, Appraised Value [Member] | ||||
Impaired loans, measurement input | 0.05 | 0.05 | ||
Real Estate Portfolio Segment [Member] | Residential [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||
Impaired loans, fair value | $ 213,482 | $ 81,736 | ||
Real Estate Portfolio Segment [Member] | Residential [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Minimum [Member] | ||||
Impaired loans, measurement input | 0 | 0 | ||
Real Estate Portfolio Segment [Member] | Residential [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Minimum [Member] | Measurement Input, Comparability Adjustment [Member] | ||||
Impaired loans, measurement input | (0.1086) | (0.433) | ||
Real Estate Portfolio Segment [Member] | Residential [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Maximum [Member] | ||||
Impaired loans, measurement input | 0.25 | 0.25 | ||
Real Estate Portfolio Segment [Member] | Residential [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Maximum [Member] | Measurement Input, Comparability Adjustment [Member] | ||||
Impaired loans, measurement input | 0.067 | 0.833 | ||
Real Estate Portfolio Segment [Member] | Residential [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Weighted Average [Member] | ||||
Impaired loans, measurement input | 0.125 | 0.125 | ||
Real Estate Portfolio Segment [Member] | Residential [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Weighted Average [Member] | Measurement Input, Comparability Adjustment [Member] | ||||
Impaired loans, measurement input | (0.0208) | 0.2 | ||
Real Estate Portfolio Segment [Member] | Commercial [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Minimum [Member] | ||||
Impaired loans, measurement input | 0 | |||
Real Estate Portfolio Segment [Member] | Commercial [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Maximum [Member] | ||||
Impaired loans, measurement input | 35 | |||
Real Estate Portfolio Segment [Member] | Commercial [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Weighted Average [Member] | Measurement Input, Comparability Adjustment [Member] | ||||
Other Real Estate Owned, measurement input | (0.0387) | |||
Real Estate Portfolio Segment [Member] | Commercial [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Weighted Average [Member] | Measurement Input, Appraised Value [Member] | ||||
Impaired loans, measurement input | 0.1 | |||
Real Estate Portfolio Segment [Member] | Commercial [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||
Impaired loans, fair value | $ 2,415,174 | $ 4,016,742 | ||
Real Estate Portfolio Segment [Member] | Commercial [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Minimum [Member] | ||||
Impaired loans, measurement input | (0.6) | |||
Real Estate Portfolio Segment [Member] | Commercial [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Minimum [Member] | Measurement Input, Appraised Value [Member] | ||||
Impaired loans, measurement input | 0 | |||
Real Estate Portfolio Segment [Member] | Commercial [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Maximum [Member] | ||||
Impaired loans, measurement input | 0.8 | |||
Real Estate Portfolio Segment [Member] | Commercial [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Maximum [Member] | Measurement Input, Appraised Value [Member] | ||||
Impaired loans, measurement input | 0.1 | |||
Real Estate Portfolio Segment [Member] | Commercial [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Weighted Average [Member] | Measurement Input, Comparability Adjustment [Member] | ||||
Impaired loans, measurement input | (0.3725) | |||
Real Estate Portfolio Segment [Member] | Commercial [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Weighted Average [Member] | Measurement Input, Appraised Value [Member] | ||||
Impaired loans, measurement input | 0.175 | 0.05 | ||
Real Estate Portfolio Segment [Member] | Commercial [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Weighted Average [Member] | Measurement Input, Cap Rate [Member] | ||||
Impaired loans, measurement input | 10.13 | 0.1075 | ||
Real Estate Portfolio Segment [Member] | Farmland [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||
Impaired loans, fair value | $ 327,581 | $ 350,007 | ||
Real Estate Portfolio Segment [Member] | Farmland [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Minimum [Member] | ||||
Impaired loans, measurement input | 10 | |||
Real Estate Portfolio Segment [Member] | Farmland [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Minimum [Member] | Measurement Input, Comparability Adjustment [Member] | ||||
Impaired loans, measurement input | (0.71) | (0.71) | ||
Real Estate Portfolio Segment [Member] | Farmland [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Maximum [Member] | ||||
Impaired loans, measurement input | 80 | |||
Real Estate Portfolio Segment [Member] | Farmland [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Maximum [Member] | Measurement Input, Comparability Adjustment [Member] | ||||
Impaired loans, measurement input | (0.035) | 0.887 | ||
Real Estate Portfolio Segment [Member] | Farmland [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Weighted Average [Member] | Measurement Input, Comparability Adjustment [Member] | ||||
Impaired loans, measurement input | 45 | 0.0885 | ||
Real Estate Portfolio Segment [Member] | Farmland [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Minimum [Member] | Measurement Input, Appraised Value [Member] | ||||
Impaired loans, measurement input | 0.1 | |||
Real Estate Portfolio Segment [Member] | Farmland [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Maximum [Member] | Measurement Input, Appraised Value [Member] | ||||
Impaired loans, measurement input | 0.75 | |||
Real Estate Portfolio Segment [Member] | Farmland [Member] | Valuation, Income Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Weighted Average [Member] | Measurement Input, Appraised Value [Member] | ||||
Impaired loans, measurement input | 0.425 | |||
Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Measurement Input, Cost to Sell [Member] | ||||
Impaired loans, fair value | $ 35,498 | |||
Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Minimum [Member] | Measurement Input, Cost to Sell [Member] | ||||
Impaired loans, measurement input | 0 | |||
Commercial Portfolio Segment [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Maximum [Member] | Measurement Input, Cost to Sell [Member] | ||||
Impaired loans, measurement input | 0 | |||
Commercial Portfolio Segment [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Minimum [Member] | Measurement Input, Appraised Value [Member] | ||||
Impaired loans, measurement input | 0 | |||
Commercial Portfolio Segment [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Maximum [Member] | Measurement Input, Appraised Value [Member] | ||||
Impaired loans, measurement input | 15 | |||
Commercial Portfolio Segment [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Weighted Average [Member] | Measurement Input, Appraised Value [Member] | ||||
Impaired loans, measurement input | 15 | |||
Commercial Portfolio Segment [Member] | Valuation, Market Approach [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Weighted Average [Member] | Measurement Input, Cost to Sell [Member] | ||||
Impaired loans, measurement input | 0 |
Note 20 - Fair Value of Finan_7
Note 20 - Fair Value of Financial Instruments and Fair Value Measurements - Fair Value Measurement Using Significant Unobservable Inputs (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Transfers out of Level 3 | $ (2,009,080) | ||
Available-for-sale Securities [Member] | |||
Balance, available for sale securities | 7,297,497 | $ 576,384 | $ 930,311 |
Transfers out of Level 3 | (2,009,080) | ||
Securities Purchased During the Year | 7,069,649 | ||
Securities Matured During the Year | (360,000) | (330,000) | |
Paydowns on Securities | (885,082) | ||
Comprehensive Income | (125,767) | 11,464 | (23,927) |
Balance, available for sale securities | $ 4,277,568 | $ 7,297,497 | $ 576,384 |
Note 20 - Fair Value of Finan_8
Note 20 - Fair Value of Financial Instruments and Fair Value Measurements - Quantitative Information About Recurring Level 3 Fair Value Measurement (Details) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | |
Fair Value | $ 353,066,166 | $ 354,246,904 | |
Fair Value, Measurements, Recurring [Member] | |||
Fair Value | 353,066,166 | 354,246,904 | |
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Fair Value | 4,277,568 | 7,297,497 | |
US States and Political Subdivisions Debt Securities [Member] | |||
Fair Value | 3,989,109 | 4,492,826 | |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Fair Value | 3,989,109 | 4,492,826 | |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Fair Value | $ 214,475 | $ 215,366 | |
US States and Political Subdivisions Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Measurement Input, Discount Rate [Member] | |||
Range Weighted Average | [1] | ||
US Government Agencies Debt Securities [Member] | |||
Fair Value | $ 346,205,172 | $ 346,723,419 | |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Fair Value | 346,205,172 | 346,723,419 | |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Fair Value | $ 4,063,093 | $ 5,022,131 | |
US Government Agencies Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Measurement Input, Discount Rate [Member] | |||
Range Weighted Average | [1] | ||
Corporate Debt Securities [Member] | |||
Fair Value | $ 2,871,885 | $ 2,060,000 | |
Corporate Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | |||
Fair Value | 2,871,885 | 2,060,000 | |
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Fair Value | $ 2,060,000 | ||
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | Measurement Input, Discount Rate [Member] | |||
Range Weighted Average | [1] | ||
[1] | The Company relies on a third-party pricing service to value its securities. The details of the unobservable inputs and other adjustments used by the third-party pricing service were not readily available to the Company. |
Note 21 - Regulatory Capital _3
Note 21 - Regulatory Capital Matters (Details Textual) - USD ($) | Jun. 05, 2018 | Mar. 31, 2017 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Jan. 01, 2016 |
Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets Rule 1 | 0.625% | |||||||
Increase in Tier One Risk Based Capital Required for Capital Adequacy to Risk Weighted Assets | 0.625% | |||||||
Tier 1 Capital Conservation Buffer of Risk Weighted Assets | 2.50% | |||||||
SEC Schedule, 12-04, Cash Dividends Paid to Registrant, Consolidated Subsidiaries | $ 8,300,000 | $ 8,725,000 | $ 9,100,000 | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 500,000 | 500,000 | ||||||
Payments for Repurchase of Warrants | $ 3,175,000 | $ 3,200,000 | $ 3,175,000 | |||||
Series A Preferred Stock [Member] | ||||||||
Stock Redeemed or Called During Period, Shares | 9,360 | 9,360 | 8,661 | 9,979 |
Note 21 - Regulatory Capital _4
Note 21 - Regulatory Capital Matters - Summary of Regulatory Capital Information (Details) - USD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Capital | $ 133,900 | $ 127,786 |
Capital to Risk-Weighted Assets | 15.86% | 15.56% |
Capital Required for Capital Adequacy | $ 67,527 | $ 65,718 |
Capital Required for Capital Adequacy to Risk-Weighted Assets | 8.00% | 8.00% |
Tier I Risk Based Capital | $ 126,623 | $ 120,279 |
Tier I Risk Based Capital to Risk-Weighted Assets | 15.00% | 14.64% |
Tier I Risk Based Capital Required for Capital Adequacy | $ 50,645 | $ 49,289 |
Tier I Risk Based Capital Required for Capital Adequacy to Risk-Weighted Assets | 6.00% | 6.00% |
Common Equity Tier I Risk Based Capital | $ 103,123 | $ 96,779 |
Common Equity Tier I Risk Based Capital to Risk-Weighted Assets | 12.22% | 11.78% |
Common Equity Tier I Risk Based Capital Required for Capital Adequacy | $ 37,984 | $ 36,967 |
Common Equity Tier I Risk Based Capital Required for Capital Adequacy to Risk-Weighted Assets | 4.50% | 4.50% |
Tier I Leverage Capital | $ 126,623 | $ 120,279 |
Tier I Leverage Capital to Average Assets | 10.24% | 9.89% |
Tier I Leverage Capital Required for Capital Adequacy | $ 49,478 | $ 48,635 |
Tier I Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% |
Colony Bank [Member] | ||
Capital | $ 131,723 | $ 127,470 |
Capital to Risk-Weighted Assets | 15.63% | 15.54% |
Capital Required for Capital Adequacy | $ 67,418 | $ 65,628 |
Capital Required for Capital Adequacy to Risk-Weighted Assets | 8.00% | 8.00% |
Capital Required to be Well Capitalized | $ 84,272 | $ 82,036 |
Capital Required to be Well Capitalized to Risk-Weighted Assets | 10.00% | 10.00% |
Tier I Risk Based Capital | $ 124,446 | $ 119,963 |
Tier I Risk Based Capital to Risk-Weighted Assets | 14.77% | 14.62% |
Tier I Risk Based Capital Required for Capital Adequacy | $ 50,563 | $ 49,221 |
Tier I Risk Based Capital Required for Capital Adequacy to Risk-Weighted Assets | 6.00% | 6.00% |
Tier I Risk Based Capital Required to be Well Capitalized | $ 67,418 | $ 65,628 |
Tier I Risk Based Capital Required to be Well Capitalized to Risk-Weighted Assets | 8.00% | 8.00% |
Common Equity Tier I Risk Based Capital | $ 124,446 | $ 119,963 |
Common Equity Tier I Risk Based Capital to Risk-Weighted Assets | 14.77% | 14.62% |
Common Equity Tier I Risk Based Capital Required for Capital Adequacy | $ 37,923 | $ 36,916 |
Common Equity Tier I Risk Based Capital Required for Capital Adequacy to Risk-Weighted Assets | 4.50% | 4.50% |
Common Equity Tier I Risk Based Capital Required to Be Well Capitalized | $ 54,777 | $ 53,323 |
Common Equity Tier I Risk Based Capital Required to Be Well Capitalized to Risk-Weighted Assets | 6.50% | 6.50% |
Tier I Leverage Capital | $ 124,446 | $ 119,963 |
Tier I Leverage Capital to Average Assets | 10.08% | 9.88% |
Tier I Leverage Capital Required for Capital Adequacy | $ 49,396 | $ 48,566 |
Tier I Leverage Capital Required for Capital Adequacy to Average Assets | 4.00% | 4.00% |
Tier I Leverage Capital Required to Be Well Capitalized | $ 61,745 | $ 60,708 |
Tier I Leverage Capital Required to Be Well Capitalized to Average Assets | 5.00% | 5.00% |
Note 22 - Stock-based Compens_2
Note 22 - Stock-based Compensation (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | |
Aug. 31, 2018 | Dec. 31, 2018 | Dec. 17, 2018 | |
Share Price | $ 17.73 | $ 16.10 | |
Restricted Stock [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted | 5,650 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 86,115 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 211 days | ||
Allocated Share-based Compensation Expense, Total | $ 13,890 |
Note 23 - Financial Informati_3
Note 23 - Financial Information of Colony Bankcorp, Inc. (Parent Only) (Details) - Balance Sheets, Parent Company (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Cash | $ 9,359,924 | $ 9,746,132 | ||
Premises and Equipment | 28,831,272 | 27,639,430 | ||
Other | 29,998,856 | 28,431,150 | ||
Total Assets | 1,251,878,468 | 1,232,755,317 | ||
Liabilities | ||||
Other Borrowed Money | 44,000,000 | 47,500,000 | ||
Other | 2,831,615 | 2,718,249 | ||
Subordinated Debentures | 24,229,000 | 24,229,000 | ||
Stockholders’ Equity | ||||
Common Stock, Par Value $1; 20,000,000 Shares Authorized, 8,444,908 and 8,439,258 Shares Issued and Outstanding as of December 31, 2018 and 2017, respectively | 8,444,908 | 8,439,258 | ||
Paid-In Capital | 25,978,334 | 29,145,094 | ||
Retained Earnings | 69,459,243 | 59,230,260 | ||
Accumulated Other Comprehensive Loss, Net of Tax | (8,190,090) | (6,491,949) | ||
95,692,395 | 90,322,663 | $ 93,387,733 | $ 95,456,622 | |
Total Liabilities and Stockholders’ Equity | 1,251,878,468 | 1,232,755,317 | ||
Parent Company [Member] | ||||
Cash | 936,808 | 910,239 | ||
Premises and Equipment | 1,198,006 | 1,099,626 | ||
Investment in Subsidiary, at Equity | 117,743,674 | 114,235,955 | ||
Other | 235,878 | 24,458 | ||
Total Assets | 120,114,366 | 116,270,278 | ||
Liabilities | ||||
Other Borrowed Money | 1,500,000 | |||
Other | 192,971 | 218,615 | ||
192,971 | 1,718,615 | |||
Subordinated Debentures | 24,229,000 | 24,229,000 | ||
Stockholders’ Equity | ||||
Common Stock, Par Value $1; 20,000,000 Shares Authorized, 8,444,908 and 8,439,258 Shares Issued and Outstanding as of December 31, 2018 and 2017, respectively | 8,444,908 | 8,439,258 | ||
Paid-In Capital | 25,978,334 | 29,145,094 | ||
Retained Earnings | 69,459,243 | 59,230,260 | ||
Accumulated Other Comprehensive Loss, Net of Tax | (8,190,090) | (6,491,949) | ||
1,000 | 1,000 | |||
Total Liabilities and Stockholders’ Equity | $ 120,114,366 | $ 116,270,278 |
Note 23 - Financial Informati_4
Note 23 - Financial Information of Colony Bankcorp, Inc. (Parent Only) (Details) - Balance Sheets, Parent Company (Details) (Parentheticals) - $ / shares | Dec. 31, 2018 | Dec. 31, 2017 |
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 20,000,000 | 20,000,000 |
Common stock, shares issued (in shares) | 8,444,908 | 8,439,258 |
Common stock, shares outstanding (in shares) | 8,444,908 | 8,439,258 |
Parent Company [Member] | ||
Common stock, par value (in dollars per share) | $ 1 | $ 1 |
Common stock, shares authorized (in shares) | 20,000,000 | 20,000,000 |
Common stock, shares issued (in shares) | 8,444,908 | 8,439,258 |
Common stock, shares outstanding (in shares) | 8,444,908 | 8,439,258 |
Note 23 - Financial Informati_5
Note 23 - Financial Information of Colony Bankcorp, Inc. (Parent Only) Statements of Operations, Parent Company (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
$ 49,022,146 | $ 45,916,423 | $ 44,589,089 | |
Salaries and Employee Benefits | 20,122,843 | 19,222,594 | 18,482,693 |
Income Before Taxes and Equity in Undistributed Earnings of Subsidiary | 14,917,670 | 14,528,431 | 12,524,543 |
Income Tax Benefits | (3,000,270) | (6,777,453) | (3,851,333) |
Net Income | 11,917,400 | 7,750,978 | 8,673,210 |
Preferred Stock Dividends | 210,600 | 1,493,310 | |
Net Income Available to Common Stockholders | 11,917,400 | 7,540,378 | 7,179,900 |
Parent Company [Member] | |||
Dividends from Subsidiaries | 8,329,127 | 8,746,882 | 9,118,104 |
9,036,175 | 9,445,065 | 9,822,796 | |
Interest | 971,847 | 900,113 | 601,567 |
Salaries and Employee Benefits | 1,083,960 | 917,259 | 840,130 |
Other | 691,037 | 604,166 | 554,434 |
2,746,844 | 2,421,538 | 1,996,131 | |
Income Before Taxes and Equity in Undistributed Earnings of Subsidiary | 6,289,331 | 7,023,527 | 7,826,665 |
Income Tax Benefits | 422,210 | 568,258 | 457,934 |
Income Before Equity in Undistributed Earnings of Subsidiary | 6,711,541 | 7,591,785 | 8,284,599 |
Equity in Undistributed Earnings of Subsidiary | 5,205,859 | 159,193 | 388,611 |
Net Income | 11,917,400 | 7,750,978 | 8,673,210 |
Preferred Stock Dividends | 210,600 | 1,493,310 | |
Net Income Available to Common Stockholders | 11,917,400 | 7,540,378 | 7,179,900 |
Parent Company [Member] | Management Service [Member] | |||
Revenue from Contract with Customer, Including Assessed Tax | 601,080 | 601,080 | 601,080 |
Parent Company [Member] | Financial Service, Other [Member] | |||
Revenue from Contract with Customer, Including Assessed Tax | $ 105,968 | $ 97,103 | $ 103,612 |
Note 23 - Financial Informati_6
Note 23 - Financial Information of Colony Bankcorp, Inc. (Parent Only) - Consolidated Statements of Comprehensive Income (Loss), Parent Company (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net Income | $ 11,917,400 | $ 7,750,978 | $ 8,673,210 |
Gains (Losses) on Securities Arising During the Year | (2,033,636) | (608,355) | (505,367) |
Tax Effect | (427,063) | (206,841) | (171,825) |
Change in Unrealized Gain (Loss) on AFS Investment Securities | (2,149,545) | (608,355) | (890,590) |
Change in Unrealized Gains (Losses) on Securities Available for Sale, Net of Reclassification Adjustment and Tax Effects | (1,698,141) | (401,514) | (587,789) |
Comprehensive Income | 10,219,259 | 7,349,464 | 8,085,421 |
Parent Company [Member] | |||
Net Income | 11,917,400 | 7,750,978 | 8,673,210 |
Gains (Losses) on Securities Arising During the Year | (2,033,636) | (608,355) | (505,367) |
Tax Effect | 427,063 | 206,841 | 171,825 |
Change in Unrealized Gain (Loss) on AFS Investment Securities | (115,909) | (385,223) | |
Tax Effect | 24,341 | 130,976 | |
Change in Unrealized Gains (Losses) on Securities Available for Sale, Net of Reclassification Adjustment and Tax Effects | (1,698,141) | (401,514) | (587,789) |
Comprehensive Income | $ 10,219,259 | $ 7,349,464 | $ 8,085,421 |
Note 23 - Financial Informati_7
Note 23 - Financial Information of Colony Bankcorp, Inc. (Parent Only) - Statements of Cash Flows, Parent Company (Details) - USD ($) | Jun. 05, 2018 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Cash Flows from Operating Activities | |||||
Net Income | $ 11,917,400 | $ 7,750,978 | $ 8,673,210 | ||
Adjustments to Reconcile Net Income to Net Cash Provided from Operating Activities | |||||
Share-based Compensation Expense | 13,890 | ||||
Interest Payable | 38,573 | 21,188 | (46,284) | ||
14,911,237 | 12,545,135 | 13,388,491 | |||
Cash Flows from Investing Activities | |||||
Purchase of Premises and Equipment | (2,762,585) | (1,344,898) | (3,259,859) | ||
Cash Flows from Financing Activities | |||||
Proceeds from Other Borrowed Money | 44,007,500 | 10,015,500 | 10,000,000 | ||
Principal Payments on Other Borrowed Money | (47,507,500) | (8,515,500) | (4,000,000) | ||
Dividends Paid on Common Stock | (1,688,417) | (843,934) | |||
Dividends Paid on Preferred Stock | (315,900) | (1,590,746) | |||
Repurchase of Warrants | $ (3,175,000) | $ (3,200,000) | (3,175,000) | ||
Redemption of Preferred Stock | (9,360,000) | (8,661,000) | |||
(3,255,863) | 14,609,043 | 28,550,546 | |||
Increase (Decrease) in Cash | (12,768,260) | (5,676,968) | 6,565,458 | ||
Parent Company [Member] | |||||
Cash Flows from Operating Activities | |||||
Net Income | 11,917,400 | 7,750,978 | 8,673,210 | ||
Adjustments to Reconcile Net Income to Net Cash Provided from Operating Activities | |||||
Depreciation and Amortization | 84,848 | 70,183 | 66,476 | ||
Share-based Compensation Expense | 13,890 | ||||
Earnings of Subsidiary | (5,205,859) | (159,193) | (388,611) | ||
Interest Payable | 2,450 | 17,887 | 5,367 | ||
Other | (239,515) | 38,135 | 108,288 | ||
6,573,214 | 7,717,990 | 8,464,730 | |||
Cash Flows from Investing Activities | |||||
Purchase of Premises and Equipment | (183,228) | (94,925) | (6,836) | ||
Cash Flows from Financing Activities | |||||
Proceeds from Other Borrowed Money | 7,500 | 5,000,000 | |||
Principal Payments on Other Borrowed Money | (1,507,500) | (3,500,000) | |||
Dividends Paid on Common Stock | (1,688,417) | (843,934) | |||
Dividends Paid on Preferred Stock | (315,900) | (1,590,746) | |||
Repurchase of Warrants | (3,175,000) | ||||
Redemption of Preferred Stock | (9,360,000) | (8,661,000) | |||
(6,363,417) | (9,019,834) | (10,251,746) | |||
Increase (Decrease) in Cash | 26,569 | (1,396,769) | (1,793,852) | ||
Cash, Beginning | 910,239 | 2,307,008 | 4,100,860 | ||
Cash, Ending | $ 936,808 | $ 910,239 | $ 2,307,008 |
Note 24 - Earnings Per Share -
Note 24 - Earnings Per Share - Summary of Earnings Per Share (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Numerator | |||
Net Income Available to Common Stockholders | $ 11,917,400 | $ 7,540,378 | $ 7,179,900 |
Denominator | |||
Weighted Average Shares Outstanding, Basic (in shares) | 8,439,454 | 8,439,258 | 8,439,258 |
Stock Warrants (in shares) | 99,154 | 194,323 | 74,037 |
Weighted-Average Number of Shares Outstanding for Diluted Earnings Per Common Share (in shares) | 8,538,608 | 8,633,581 | 8,513,295 |
Earnings Per Share - Basic (in dollars per share) | $ 1.41 | $ 0.89 | $ 0.85 |
Earnings Per Share - Diluted (in dollars per share) | $ 1.40 | $ 0.87 | $ 0.84 |
Note 25 - Accumulated Other C_3
Note 25 - Accumulated Other Comprehensive Income (Loss) - Changes for Unrealized Gains and Losses Securities Available for Sale (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Beginning Balance | $ 90,322,663 | $ 93,387,733 | $ 95,456,622 |
Ending Balance | 95,692,395 | 90,322,663 | 93,387,733 |
Accumulated Net Investment Gain (Loss) Attributable to Parent [Member] | |||
Beginning Balance | (6,491,949) | (5,022,140) | (4,434,351) |
Other Comprehensive Income Before Reclassification | (1,606,573) | (401,514) | (333,542) |
Amounts Reclassified from Accumulated Other Comprehensive Income | (91,568) | (254,247) | |
TCJ Act | (1,068,295) | ||
Change in Unrealized Gains (Losses) on Securities Available for Sale, Net of Reclassification Adjustment and Tax Effects | (1,698,141) | (1,469,809) | (587,789) |
Ending Balance | $ (8,190,090) | $ (6,491,949) | $ (5,022,140) |
Note 26 - Revenue from Contra_2
Note 26 - Revenue from Contracts with Customers (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Gains (Losses) on Sales of Other Real Estate | $ 309,077 | $ 208,329 | $ (160,682) |
Other Noninterest Expenses [Member] | |||
Gains (Losses) on Sales of Other Real Estate | 41,000 | (121,000) | (648,000) |
Deposit Account [Member] | |||
Revenue from Contract with Customer, Including Assessed Tax | 4,373,854 | 4,466,997 | 4,307,214 |
Debit Card [Member] | |||
Revenue from Contract with Customer, Including Assessed Tax | 2,800,000 | 2,600,000 | 2,400,000 |
ATM Fees [Member] | |||
Revenue from Contract with Customer, Including Assessed Tax | $ 352,000 | $ 338,000 | $ 307,000 |