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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Interest and fee income      
Loans, including fees $ 15,285,012 $ 15,055,981 $ 15,994,290
Taxable securities 1,849,347 1,628,753 1,617,471
Tax-exempt securities 313,443 370,998 570,623
Other 103,309 184,024 729,868
Total interest and fee income 17,551,111 17,239,756 18,912,252
Interest expense      
Deposits 174,000 305,414 815,171
Total interest expense 174,000 305,414 815,171
Net interest income 17,377,111 16,934,342 18,097,081
Provision for loan losses 120,000 240,000 180,000
Net interest income after provision for loan losses 17,257,111 16,694,342 17,917,081
Other income      
Service charges and fees 1,254,699 1,094,985 1,175,657
Mortgage banking income 2,314,106 2,267,406 940,671
Gain on sales of securities, net 266,944 10,002 50,707
Other non-interest income 32,482 32,508 31,574
Total other income 3,868,231 3,404,901 2,198,609
Other expense      
Salaries and employee benefits 7,437,787 7,219,005 6,809,258
Net occupancy expense 2,428,082 2,216,727 1,623,590
Data processing fees 622,536 646,590 607,467
Professional expenses 395,115 345,126 324,628
Other operating expenses 1,425,454 1,245,485 1,257,040
Total other expense 12,308,974 11,672,933 10,621,983
Income before income tax expense 8,816,368 8,426,310 9,493,707
Income tax expense 2,071,503 1,965,679 2,175,274
Net income $ 6,744,865 $ 6,460,631 $ 7,318,433
Weighted average shares outstanding      
Basic 5,531,518 5,526,948 5,522,025
Diluted 5,680,482 5,678,543 5,588,090
Basic income per common share $ 1.22 $ 1.17 $ 1.33
Diluted income per common share $ 1.19 $ 1.14 $ 1.31