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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest and fee income        
Loans, including fees $ 3,221,855 $ 3,208,836 $ 6,363,593 $ 6,242,879
Taxable securities 399,909 290,486 738,756 613,619
Tax-exempt securities 256,202 240,171 527,087 479,485
Other 55,319 31,176 95,270 66,750
Total interest and fee income 3,933,285 3,770,669 7,724,706 7,402,733
Interest expense        
Deposits 106,522 92,981 203,304 187,120
Short-term borrowings   7   7
Total interest expense 106,522 92,988 203,304 187,127
Net interest income 3,826,763 3,677,681 7,521,402 7,215,606
Provision for loan losses 30,000 140,000 32,500 185,000
Net interest income after provision for loan losses 3,796,763 3,537,681 7,488,902 7,030,606
Other income        
Service charges, fees and commissions 287,873 265,736 557,439 526,267
Mortgage banking income 400,519 296,891 675,624 648,764
Gains on sales of securities   160,391   348,327
Other non-interest income 8,087 6,554 15,290 12,243
Total other income 696,479 729,572 1,248,353 1,535,601
Other expense        
Salaries and employee benefits 1,500,362 1,480,420 2,970,571 2,995,446
Net occupancy expense 393,763 380,311 757,908 756,710
Other operating expenses 649,855 576,150 1,287,131 1,207,422
Net other real estate owned expenses 46,143   46,143 13,450
Total other expenses 2,590,123 2,436,881 5,061,753 4,973,028
Income before income tax expense 1,903,119 1,830,372 3,675,502 3,593,179
Income tax expense 516,734 518,262 1,063,029 1,085,333
Net income $ 1,386,385 $ 1,312,110 $ 2,612,473 $ 2,507,846
Weighted average shares outstanding        
Basic (in shares) 4,967,907 4,929,722 4,965,094 4,923,266
Diluted (in shares) 5,072,908 5,056,523 5,069,024 5,047,601
Basic income per common share (in dollars per share) $ 0.28 $ 0.27 $ 0.53 $ 0.51
Diluted income per common share (in dollars per share) $ 0.27 $ 0.26 $ 0.52 $ 0.50