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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest and fee income        
Loans, including fees $ 3,364,293 $ 3,360,151 $ 9,727,886 $ 9,603,030
Taxable securities 409,055 379,039 1,147,811 992,658
Tax-exempt securities 251,172 255,231 778,259 734,716
Other 92,512 35,722 187,782 102,472
Total interest and fee income 4,117,032 4,030,143 11,841,738 11,432,876
Interest expense        
Deposits 110,625 96,467 313,929 283,588
Short-term borrowings       7
Total interest expense 110,625 96,467 313,929 283,595
Net interest income 4,006,407 3,933,676 11,527,809 11,149,281
Provision for loan losses 20,000 210,000 52,500 395,000
Net interest income after provision for loan losses 3,986,407 3,723,676 11,475,309 10,754,281
Other income        
Service charges and fees 278,204 265,769 835,643 792,036
Mortgage banking income 149,379 409,674 825,003 1,058,438
Gains on sales of securities 45,820   45,820 348,327
Other non-interest income 8,479 11,143 23,769 23,385
Total other income 481,882 686,586 1,730,235 2,222,186
Other expense        
Salaries and employee benefits 1,487,207 1,485,621 4,457,778 4,481,067
Net occupancy expense 399,534 377,075 1,157,442 1,133,784
Other operating expenses 597,797 721,572 1,884,928 1,928,994
Net other real estate owned expenses     46,143 13,450
Total other expenses 2,484,538 2,584,268 7,546,291 7,557,295
Income before income tax expense 1,983,751 1,825,994 5,659,253 5,419,172
Income tax expense 543,098 399,656 1,606,127 1,484,989
Net income $ 1,440,653 $ 1,426,338 $ 4,053,126 $ 3,934,183
Weighted average shares outstanding        
Basic (in shares) 4,978,515 4,931,185 4,969,617 4,929,977
Diluted (in shares) 5,067,561 5,054,723 5,058,958 5,058,837
Basic income per common share (in dollars per share) $ 0.29 $ 0.29 $ 0.82 $ 0.80
Diluted income per common share (in dollars per share) $ 0.28 $ 0.28 $ 0.80 $ 0.78