XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.1
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest and fee income    
Loans, including fees $ 4,668,099 $ 3,551,875
Taxable securities 690,324 559,670
Tax-exempt securities 161,444 109,129
Other 111,967 34,286
Total interest and fee income 5,631,834 4,254,960
Interest expense    
Deposits 931,101 36,797
Total interest expense 931,101 36,797
Net interest income 4,700,733 4,218,163
Provision for credit losses 45,000 (75,000)
Net interest income after provision for credit losses 4,655,733 4,293,163
Other income    
Service charges and fees 327,073 307,593
Mortgage banking income 112,160 258,896
Gain on sales of securities 61,780
Other non-interest income 9,968 6,285
Total other income 449,201 634,554
Other expense    
Salaries and employee benefits 1,966,523 1,812,155
Net occupancy expense 654,062 620,942
Other operating expenses 305,181 294,733
Professional fees 167,777 139,642
Data processing fees 156,818 149,090
Total other expense 3,250,361 3,016,562
Income before income tax expense 1,854,573 1,911,155
Income tax expense 265,794 447,049
Net income $ 1,588,779 $ 1,464,106
Weighted average shares outstanding    
Basic 5,552,351 5,544,546
Diluted 5,640,313 5,688,619
Basic income per common share $ 0.29 $ 0.26
Diluted income per common share $ 0.28 $ 0.26