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Note 3 - Cash and Balances Due From Banks | 12 Months Ended
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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 and $1,515,000 at December 31, 2018 and 2017, respectively.

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- Definition The entire disclosure for cash and cash equivalent footnotes, which may include the types of deposits and money market instruments, applicable carrying amounts, restricted amounts and compensating balance arrangements. Cash and equivalents include: (1) currency on hand (2) demand deposits with banks or financial institutions (3) other kinds of accounts that have the general characteristics of demand deposits (4) short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Generally, only investments maturing within three months from the date of acquisition qualify. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 305 -URI http://asc.fasb.org/topic&trid=2122426 + Details
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