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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest and fee income        
Loans, including fees $ 3,905,954 $ 3,364,293 $ 11,169,692 $ 9,727,886
Taxable securites 465,180 409,055 1,406,094 1,147,811
Tax-exempt securities 171,916 251,172 575,657 778,259
Other 122,536 92,512 258,019 187,782
Total interest and fee income 4,665,586 4,117,032 13,409,462 11,841,738
Interest expense        
Deposits 195,434 110,625 444,961 313,929
Total interest expense 195,434 110,625 444,961 313,929
Net interest income 4,470,152 4,006,407 12,964,501 11,527,809
Provision for loan losses 100,000 20,000 230,000 52,500
Net interest income after provision for loan losses 4,370,152 3,986,407 12,734,501 11,475,309
Other income        
Service charges and fees 284,046 278,204 875,709 835,643
Mortgage banking income 168,004 149,379 558,473 825,003
Gain on sales of securities   45,820 4,735 45,820
Other non-interest income 6,643 8,479 22,817 23,769
Total other income 458,693 481,882 1,461,734 1,730,235
Other expense        
Salaries and employee benefits 1,595,706 1,487,207 4,744,878 4,457,778
Net occupancy expense 389,973 399,534 1,195,364 1,157,442
Other operating expenses 797,319 597,797 2,111,968 1,884,928
Net other real estate owned expenses 33,476   57,613 46,143
Total other expense 2,816,474 2,484,538 8,109,823 7,546,291
Income before income tax expense 2,012,371 1,983,751 6,086,412 5,659,253
Income tax expense 234,218 543,098 969,672 1,606,127
Net Income $ 1,778,153 $ 1,440,653 $ 5,116,740 $ 4,053,126
Weighted average shares outstanding        
Basic (in shares) 5,506,649 5,475,504 5,496,346 5,459,006
Diluted (in shares) 5,589,549 5,588,410 5,579,989 5,568,799
Basic income per common share (in dollars per share) $ 0.32 $ 0.26 $ 0.93 $ 0.74
Diluted income per common share (in dollars per share) $ 0.32 $ 0.26 $ 0.92 $ 0.73