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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Interest and fee income        
Loans, including fees $ 3,360,151 $ 2,975,653 $ 9,603,030 $ 8,798,553
Taxable securities 379,039 333,589 992,658 1,036,038
Tax-exempt securities 255,231 248,119 734,716 734,716
Other 35,722 12,311 102,472 25,629
Total interest and fee income 4,030,143 3,569,672 11,432,876 10,594,936
Interest expense        
Deposits 96,467 101,199 283,588 293,356
Short-term borrowings   31 7 924
Total interest expense 96,467 101,230 283,595 294,280
Net interest income 3,933,676 3,468,442 11,149,281 10,300,656
Provision for loan losses 210,000 7,500 395,000 82,500
Net interest income after provisions for loan losses 3,723,676 3,460,942 10,754,281 10,218,156
Other income        
Service charges, fees and commissions 265,769 240,306 792,036 728,799
Mortgage banking income 409,674 413,077 1,058,438 1,247,813
Other non-interest income 11,143 8,655 23,385 20,175
Loss on sale of other real estate     (13,450)  
Gain on sale of securities     348,327 264,401
Total other income 686,586 662,038 2,208,736 2,261,188
Other expense        
Salaries and employee benefits 1,485,621 1,450,852 4,481,067 4,342,702
Net occupancy expense 377,075 372,727 1,133,784 1,112,354
Other operating expenses 721,572 549,163 1,928,994 1,656,198
Total other expense 2,584,268 2,372,742 7,543,845 7,111,254
Income before income tax expense 1,825,994 1,750,238 5,419,172 5,368,090
Income tax expense 399,656 551,319 1,484,989 1,710,774
Net income $ 1,426,338 $ 1,198,919 $ 3,934,183 $ 3,657,316
Weighted average shares outstanding        
Basic (in shares) 4,931,185 4,915,610 4,929,977 4,911,142
Diluted (in shares) 5,054,723 5,061,685 5,058,837 5,062,695
Basic income per common share (in dollars per share) $ 0.29 $ 0.24 $ 0.80 $ 0.74
Diluted income per common share (in dollars per share) $ 0.28 $ 0.24 $ 0.78 $ 0.72