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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Interest and fee income      
Loans, including fees $ 15,055,981 $ 15,994,290 $ 15,126,316
Taxable securites 1,628,753 1,617,471 1,872,285
Tax-exempt securities 370,998 570,623 744,713
Other 184,024 729,868 393,597
Total interest and fee income 17,239,756 18,912,252 18,136,911
Interest expense      
Deposits 305,414 815,171 694,386
Total interest expense 305,414 815,171 694,386
Net interest income 16,934,342 18,097,081 17,442,525
Provision for loan losses 240,000 180,000 325,000
Net interest income after provision for loan losses 16,694,342 17,917,081 17,117,525
Other income      
Service charges and fees 1,094,985 1,175,657 1,168,808
Mortgage banking income 2,267,406 940,671 786,893
Gain on sales of securities, net 10,002 50,707 4,735
Other non-interest income 32,508 31,574 34,189
Total other income 3,404,901 2,198,609 1,994,625
Other expense      
Salaries and employee benefits 7,219,005 6,809,258 6,488,229
Net occupancy expense 2,216,727 1,623,590 1,580,929
Other operating expenses 1,245,485 1,257,040 1,914,449
Data processing fees 646,590 607,467 579,666
Professional expenses 345,126 324,628 459,348
Net other real estate owned expenses     57,613
Total other expense 11,672,933 10,621,983 11,080,234
Income before income tax expense 8,426,310 9,493,707 8,031,916
Income tax expense 1,965,679 2,175,274 1,108,982
Net income $ 6,460,631 $ 7,318,433 $ 6,922,934
Weighted average shares outstanding      
Basic (in shares) 5,526,948 5,522,025 5,500,027
Diluted (in shares) 5,678,543 5,588,090 5,589,012
Basic income per common share (in dollars per share) $ 1.17 $ 1.33 $ 1.26
Diluted income per common share (in dollars per share) $ 1.14 $ 1.31 $ 1.24