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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Interest and fee income    
Loans, including fees $ 3,558,986 $ 3,141,738
Taxable securities 470,503 338,847
Tax-exempt securities 228,067 270,885
Other 62,453 39,951
Total interest and fee income 4,320,009 3,791,421
Interest expense    
Deposits 109,830 96,782
Total interest expense 109,830 96,782
Net interest income 4,210,179 3,694,639
Provision for loan losses 55,000 2,500
Net interest income after provision for loan losses 4,155,179 3,692,139
Other income    
Service charges, fees and commissions 295,291 269,566
Mortgage banking income 139,915 275,105
Gains on sales of securities 4,348
Other non-interest income 8,391 7,203
Total other income 447,945 551,874
Other expense    
Salaries and employee benefits 1,572,720 1,470,209
Net occupancy expense 383,332 364,145
Other operating expenses 685,782 637,276
Total other expenses 2,641,834 2,471,630
Income before income tax expense 1,961,290 1,772,383
Income tax expense 349,060 546,295
Net income $ 1,612,230 $ 1,226,088
Weighted average shares outstanding    
Basic (in shares) 5,489,087 5,458,475
Diluted (in shares) 5,583,371 5,580,412
Basic income per common share (in dollars per share) $ 0.29 $ 0.22
Diluted income per common share (in dollars per share) $ 0.29 $ 0.22