QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

22. Quarterly Results of Operations (unaudited)

The tables below represent the quarterly results of operations for the years ended December 31, 2016 and 2015, respectively:

	2016
	FOURTH		THIRD		SECOND		FIRST
Total interest and fee income	$	3,862,720	$	4,030,143	$	3,770,669	$	3,632,065
Total interest expense		95,146		96,467		92,988		94,139
Net interest income		3,767,574		3,933,676		3,677,681		3,537,926
Provision for loan losses		175,000		210,000		140,000		45,000
Net interest income after provisions for loan losses		3,592,574		3,723,676		3,537,681		3,492,926
Other income		638,896		686,586		729,572		806,029
Other expense		2,715,147		2,584,268		2,436,881		2,536,148
Income before income tax expense		1,516,323		1,825,994		1,830,372		1,762,807
Income tax expense		203,444		399,656		518,262		567,071
Net income	$	1,312,879	$	1,426,338	$	1,312,110	$	1,195,736
Basic income per common share	$	0.27	$	0.28	$	0.27	$	0.24
Diluted income per common share	$	0.26	$	0.28	$	0.26	$	0.24

	2015
	FOURTH		THIRD		SECOND		FIRST
Total interest and fee income	$	3,635,011	$	3,569,672	$	3,550,663	$	3,474,602
Total interest expense		108,115		101,230		99,579		93,471
Net interest income		3,526,896		3,468,442		3,451,084		3,381,131
Provision for loan losses		110,000		7,500		70,000		5,000
Net interest income after provisions for loan losses		3,416,896		3,460,942		3,381,084		3,376,131
Other income		788,770		662,038		868,492		730,658
Other expense		2,402,221		2,372,742		2,399,458		2,339,054
Income before income tax expense		1,803,445		1,750,238		1,850,118		1,767,737
Income tax expense		576,474		551,319		596,680		562,775
Net income	$	1,226,971	$	1,198,919	$	1,253,438	$	1,204,960
Basic income per common share	$	0.25	$	0.24	$	0.26	$	0.25
Diluted income per common share	$	0.24	$	0.24	$	0.25	$	0.22