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CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
Sep. 30, 2018
Dec. 31, 2017
ASSETS    
Cash and due from banks $ 8,187,758 $ 8,486,025
Interest-bearing deposits at the Federal Reserve 21,573,263 24,034,194
Investment securities available for sale 118,603,201 139,250,250
Mortgage loans to be sold 2,861,227 2,093,723
Loans 274,627,803 270,180,640
Less: Allowance for loan losses (4,105,930) (3,875,398)
Net loans 270,521,873 266,305,242
Premises, and equipment and leasehold improvements, net 2,314,004 2,244,525
Other real estate owned   435,479
Accrued interest receivable 1,471,368 1,720,920
Other assets 2,844,688 1,996,140
Total assets 428,377,382 446,566,498
Deposits:    
Non-interest bearing demand 131,015,152 139,256,748
Interest bearing demand 96,573,047 108,967,196
Money market accounts 78,552,052 77,833,728
Time deposits over $250,000 21,861,748 18,624,924
Other time deposits 21,460,316 23,295,492
Other savings deposits 33,578,943 34,910,212
Total deposits 383,041,258 402,888,300
Accrued interest payable and other liabilities 2,036,590 913,563
Total liabilities 385,077,848 403,801,863
Shareholders' equity    
Common stock - no par 12,000,000 shares authorized; Issued 5,776,869 shares at September 30, 2018 and 5,753,743 shares at December 31, 2017. Shares outstanding 5,510,312 and 5,488,207 at September 30, 2018 and December 31, 2017, respectively
Additional paid in capital 46,838,852 37,236,566
Retained earnings 1,295,509 8,471,780
Treasury stock: 266,557 shares as of September 30, 2018 and 265,536 shares as of December 31, 2017 (2,268,264) (2,247,415)
Accumulated other comprehensive loss, net of income taxes (2,566,563) (696,296)
Total shareholders' equity 43,299,534 42,764,635
Total liabilities and shareholders' equity $ 428,377,382 $ 446,566,498