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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net income $ 1,612,230 $ 1,226,088
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 49,061 47,518
Gain on sale of securities (4,348)
Provision for loan losses 55,000 2,500
Stock-based compensation expense 18,882 18,835
Deferred income taxes (52,568) (163,611)
Net amortization of unearned discounts on investment securities 77,408 98,428
Origination of mortgage loans held for sale (13,589,623) (14,107,053)
Proceeds from sale of mortgage loans held for sale 12,042,961 14,968,617
Decrease in accrued interest receivable and other assets 238,217 436,712
Increase in accrued interest payable and other liabilities 431,940 371,786
Net cash provided by operating activities 879,160 2,899,820
Cash flows from investing activities:    
Proceeds from calls and maturities of investment securities available for sale 4,950,000 1,212,150
Proceeds from sale of available for sale securities 11,970,377
Purchase of investment securities available for sale (5,000,000) (10,059,800)
Net decrease in loans 2,082,326 5,135,012
Purchase of premises, equipment and leasehold improvements, net (49,347) (14,766)
Net cash provided (used) by investing activities 13,953,356 (3,727,404)
Cash flows from financing activities:    
Net (decrease) increase in deposit accounts (12,202,736) 13,441,888
Dividends paid (748,395) (693,864)
Stock options exercised 18,768 113,190
Net cash (used) provided by financing activities (12,932,363) 12,861,214
Net increase in cash and cash equivalents 1,900,153 12,033,630
Cash and cash equivalents at beginning of period 32,520,219 26,242,330
Cash and cash equivalents at end of period 34,420,372 38,275,960
Cash paid during the year for:    
Interest 87,575 91,352
Income taxes 879,432
Supplemental disclosure for non-cash investing and financing activity:    
Change in unrealized loss on securities available for sale, net of income taxes (1,047,998) 369,068
Change in dividends payable $ 1,273 $ 1,152