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Consolidated Statements of Comprehensive Income - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
NET INCOME $ 10,638,142 $ 6,832,214 $ 9,415,090
OTHER ITEMS OF COMPREHENSIVE INCOME:      
Change in unrealized gain (loss) on investment securities available-for-sale, before income taxes (1,613,422) 4,239,526 3,018,580
Change in unrealized gain (loss) on interest rate swaps, before income taxes 1,777,650 (3,312,874) (2,899,860)
Add: Reclassification adjustment for realized losses on interest rate swaps included in net income, before income taxes 2,580,000 0 0
Less: Reclassification adjustment for realized gains on investment securities included in net income, before income taxes (2,740,341) (461,029) (89,564)
Total other items of comprehensive income 3,887 465,623 29,156
Income tax expense related to other items of comprehensive income 936 87,966 7,435
Other comprehensive income 2,951 377,657 21,721
TOTAL COMPREHENSIVE INCOME $ 10,641,093 $ 7,209,871 $ 9,436,811