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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest and fee income        
Loans, including fees $ 3,704,752 $ 3,221,855 $ 7,263,738 $ 6,363,593
Taxable securities 470,411 399,909 940,914 738,756
Tax-exempt securities 175,674 256,202 403,741 527,087
Other 73,030 55,319 135,483 95,270
Total interest and fee income 4,423,867 3,933,285 8,743,876 7,724,706
Interest expense        
Deposits 139,697 106,522 249,527 203,304
Total interest expense 139,697 106,522 249,527 203,304
Net interest income 4,284,170 3,826,763 8,494,349 7,521,402
Provision for loan losses 75,000 30,000 130,000 32,500
Net interest income after provision for loan losses 4,209,170 3,796,763 8,364,349 7,488,902
Other income        
Service charges, fees and commissions 296,372 287,873 591,663 557,439
Mortgage banking income 250,554 400,519 390,469 675,624
Gain on sales of securities 387   4,735  
Other non-interest income 7,783 8,087 16,174 15,290
Total other income 555,096 696,479 1,003,041 1,248,353
Other expense        
Salaries and employee benefits 1,576,452 1,500,362 3,149,172 2,970,571
Net occupancy expense 422,059 393,763 805,391 757,908
Other operating expenses 628,867 649,855 1,314,649 1,287,131
Net other real estate owned expenses 24,137 46,143 24,137 46,143
Total other expense 2,651,515 2,590,123 5,293,349 5,061,753
Income before income tax expense 2,112,751 1,903,119 4,074,041 3,675,502
Income tax expense 386,394 516,734 735,454 1,063,029
Net Income $ 1,726,357 $ 1,386,385 $ 3,338,587 $ 2,612,473
Weighted average shares outstanding        
Basic (in shares) 5,492,896 5,464,697 5,339,187 5,461,603
Diluted (in shares) 5,586,585 5,588,687 5,433,360 5,584,373
Basic income per common share (in dollars per share) $ 0.31 $ 0.25 $ 0.63 $ 0.48
Diluted income per common share (in dollars per share) $ 0.31 $ 0.25 $ 0.61 $ 0.47