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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest and fee income        
Loans, including fees $ 4,090,423 $ 3,704,752 $ 8,042,142 $ 7,263,738
Taxable securities 423,211 470,411 886,665 940,914
Tax-exempt securities 137,115 175,674 298,836 403,741
Other 162,596 73,030 278,535 135,483
Total interest and fee income 4,813,345 4,423,867 9,506,178 8,743,876
Interest expense        
Deposits 245,226 139,697 488,984 249,527
Total interest expense 245,226 139,697 488,984 249,527
Net interest income 4,568,119 4,284,170 9,017,194 8,494,349
Provision for loan losses 135,000 75,000 145,000 130,000
Net interest income after provision for loan losses 4,433,119 4,209,170 8,872,194 8,364,349
Other income        
Service charges and fees 300,553 296,372 580,486 591,663
Mortgage banking income 256,379 250,554 380,041 390,469
Gain on sales of securities 28,900 387 28,900 4,735
Other non-interest income 6,907 7,783 12,095 16,174
Total other income 592,739 555,096 1,001,522 1,003,041
Other expense        
Salaries and employee benefits 1,664,436 1,576,452 3,320,960 3,149,172
Net occupancy expense 427,247 422,059 814,379 805,391
Other operating expenses 543,099 628,867 1,158,804 1,314,649
Net other real estate owned expenses   24,137   24,137
Total other expense 2,634,782 2,651,515 5,294,143 5,293,349
Income before income tax expense 2,391,076 2,112,751 4,579,573 4,074,041
Income tax expense 550,229 386,394 1,049,462 735,454
Net income $ 1,840,847 $ 1,726,357 $ 3,530,111 $ 3,338,587
Weighted average shares outstanding        
Basic (in shares) 5,517,236 5,492,896 5,515,832 5,339,187
Diluted (in shares) 5,587,985 5,586,585 5,586,813 5,433,360
Basic income per common share (in dollars per share) $ 0.33 $ 0.31 $ 0.64 $ 0.63
Diluted income per common share (in dollars per share) $ 0.33 $ 0.31 $ 0.63 $ 0.61