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Capital Notes | 12 Months Ended
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Dec. 31, 2019
Capital Notes [Abstract] |
Capital Notes | Note 10 – Capital notes On January 25, 2017, Financial closed a private placement of unregistered debt securities (the “2017 Offering”) p ursuant to which Financial issued $5,000,000 in principal of notes (the “2017 Notes”). The 2017 Notes bear interest at the rate of 4% per year with interest payable quarterly in arrears. The 2017 Notes are to mature on January 24, 2022, but are subject to prepayment in whole or in part on or after January 24, 2018 at Financial’s sole discretion on 30 days written notice to the holders. Of the proceeds, $3,000,000 was injected into the Bank as equity capital in March 2017. The remaining $2,000,000 has been used and is currently being used for debt service on the 2017 Notes. ﻿

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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