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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Interest and dividend income:    
Interest and fees on loans $ 17,244,225 $ 16,714,749
Securities:    
Taxable interest income 1,081,056 1,232,399
Nontaxable interest income 1,142,291 1,136,630
Federal Reserve Bank dividends 100,602 37,726
Interest-earning deposits, federal funds sold, and other 141,305 196,224
Total interest and dividend income 19,709,479 19,317,728
Interest expense:    
Deposits 2,161,937 2,174,066
Federal Home Loan Bank advances 172,159 250,018
Securities sold under agreements to repurchase 3,312 5,437
Subordinated debentures 90,174 86,901
Total interest expense 2,427,582 2,516,422
Net interest income 17,281,897 16,801,306
Provision (credit) for loan losses (500,000) (250,000)
Net interest income after provision (credit) for loan losses 17,781,897 17,051,306
Non-interest income:    
Service fees on deposit accounts 500,841 454,903
Other service charges and fees 475,194 414,992
Loan servicing fees 299,435 281,979
Gain on sale of securities 10,821 109,712
Gain on sale of loans 893,342 630,779
Loss on sale of property and equipment   (80,545)
Loss on sale of foreclosed assets (14,684) (164,084)
Other 507,610 579,195
Total Other income 2,672,559 2,226,931
Non-interest expense:    
Compensation and employee benefits 7,609,189 7,224,771
Occupancy expense 1,558,585 1,699,734
Data processing services 774,990 767,213
Director fees 197,233 183,300
Professional fees 544,164 587,907
FDIC insurance premiums 355,655 459,059
Foreclosed asset related expenses 441,284 506,885
Amortization of core deposit intangible 58,000 75,000
Amortization of mortgage servicing rights 82,929 106,970
Other 2,519,204 2,480,608
Total Other expenses 14,141,233 14,091,447
Income before income taxes 6,313,223 5,186,790
Income tax expense 1,675,469 1,360,598
Net income $ 4,637,754 $ 3,826,192
Basic and diluted earnings per share (in dollars per share) $ 0.66 $ 0.55
Dividends per share (in dollars per share) $ 0.24 $ 0.24