XML 35 R4.htm IDEA: XBRL DOCUMENT v3.3.1.900
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Interest and fee income      
Loans, including fees $ 11,795,303 $ 11,263,048 $ 11,188,748
Taxable securities 1,376,441 1,045,592 465,268
Tax-exempt securities 1,012,638 1,059,883 1,017,326
Other 45,566 49,731 80,450
Total interest and fee income 14,229,948 13,418,254 12,751,792
Interest expense      
Deposits 401,463 408,266 $ 416,128
Short-term borrowings 932 681
Total interest expense 402,395 408,947 $ 416,128
Net interest income 13,827,553 13,009,307 12,335,664
Provision for loan losses 192,500 82,500 207,500
Net interest income after provision for loan losses 13,635,053 12,926,807 12,128,164
Other income      
Service charges, fees and commissions 991,007 921,638 943,627
Mortgage banking income 1,605,676 1,315,020 1,521,670
Other non-interest income 29,443 29,466 31,120
Gain on sale of other real estate owned   2,382  
Gain on sale of securities 423,832 312,577  
Total other income 3,049,958 2,581,083 2,496,417
Other expense      
Salaries and employee benefits 5,859,203 5,466,446 5,191,215
Net occupancy expense 1,480,606 1,473,700 1,406,680
Other operating expenses 2,173,666 2,171,058 2,119,955
Total other expense 9,513,475 9,111,204 8,717,850
Income before income tax expense 7,171,536 6,396,686 5,906,731
Income tax expense 2,287,248 1,997,866 1,829,807
Net income $ 4,884,288 $ 4,398,820 $ 4,076,924
Weighted average shares outstanding      
Basic 4,912,499 4,907,208 4,897,902
Diluted 5,067,085 5,032,211 4,906,234
Basic income per common share $ 0.99 $ 0.90 $ 0.83
Diluted income per common share $ 0.96 $ 0.87 $ 0.83