QUARTERLY RESULTS OF OPERATIONS (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Schedule of quarterly operating results

The tables below represent the quarterly results of operations for the years ended December 31, 2018 and 2017, respectively: 

	2018
	Fourth		Third		Second		First
Total interest and fee income	$	4,727,449	$	4,665,586	$	4,423,867	$	4,320,009
Total interest expense		249,425		195,434		139,697		109,830
Net interest income		4,478,024		4,470,152		4,284,170		4,210,179
Provision for loan losses		95,000		100,000		75,000		55,000
Net interest income after provision for loan losses		4,383,024		4,370,152		4,209,170		4,155,179
Total other income		532,891		458,693		555,096		447,945
Total other expense		2,970,411		2,816,474		2,651,515		2,641,834
Income before income tax expense		1,945,504		2,012,371		2,112,751		1,961,290
Income tax expense		139,310		234,218		386,394		349,060
Net income	$	1,806,194	$	1,778,153	$	1,726,357	$	1,612,230
Basic income per common share	$	0.33	$	0.32	$	0.31	$	0.29
Diluted income per common share	$	0.32	$	0.32	$	0.31	$	0.29

	2017
	Fourth		Third		Second		First
Total interest and fee income	$	4,327,409	$	4,117,032	$	3,933,285	$	3,791,421
Total interest expense		109,934		110,625		106,522		96,782
Net interest income		4,217,475		4,006,407		3,826,763		3,694,639
Provision for loan losses		2,500		20,000		30,000		2,500
Net interest income after provision for loan losses		4,214,975		3,986,407		3,796,763		3,692,139
Other income		538,236		481,882		696,479		551,874
Other expense		2,696,005		2,484,538		2,590,123		2,471,630
Income before income tax expense		2,057,206		1,983,751		1,903,119		1,772,383
Income tax expense		1,208,507		543,098		516,734		546,295
Net income	$	848,699	$	1,440,653	$	1,386,385	$	1,226,088
Basic income per common share	$	0.15	$	0.26	$	0.25	$	0.22
Diluted income per common share	$	0.15	$	0.26	$	0.25	$	0.22