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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Interest and fee income    
Loans, including fees $ 3,951,719 $ 3,558,986
Taxable securities 463,454 470,503
Tax-exempt securities 161,721 228,067
Other 115,939 62,453
Total interest and fee income 4,692,833 4,320,009
Interest expense    
Deposits 243,758 109,830
Total interest expense 243,758 109,830
Net interest income 4,449,075 4,210,179
Provision for loan losses 10,000 55,000
Net interest income after provision for loan losses 4,439,075 4,155,179
Other income    
Service charges and fees 279,933 295,291
Mortgage banking income 123,662 139,915
Gain on sales of securities   4,348
Other non-interest income 5,188 8,391
Total other income 408,783 447,945
Other expense    
Salaries and employee benefits 1,656,524 1,572,720
Net occupancy expense 387,132 383,332
Other operating expenses 615,705 685,782
Total other expense 2,659,361 2,641,834
Income before income tax expense 2,188,497 1,961,290
Income tax expense 499,233 349,060
Net income $ 1,689,264 $ 1,612,230
Weighted average shares outstanding    
Basic (in shares) 5,514,413 5,489,087
Diluted (in shares) 5,592,352 5,583,371
Basic income per common share (in dollars per share) $ 0.31 $ 0.29
Diluted income per common share (in dollars per share) $ 0.30 $ 0.29