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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2016
Dec. 31, 2015
Interest revenue        
Loans, including fees $ 3,878,223 $ 2,805,851 $ 11,026,020 $ 6,906,069
U.S. treasuries, government agencies and FHLB stock 33,022 91,940 182,130 276,415
Municipal and corporate bonds 107,564 31,722 226,230 94,145
Mortgage-backed securities 310,709 272,751 829,437 848,181
Federal funds sold and other bank deposits 28,065 18,005 147,504 31,650
Total interest revenue 4,357,583 3,220,269 12,411,321 8,156,460
Interest expense        
Deposits 673,348 458,024 1,959,630 1,241,457
Borrowed funds 74,336 38,191 192,977 64,487
Total interest expense 747,684 496,215 2,152,607 1,305,944
Net interest income 3,609,899 2,724,054 10,258,714 6,850,516
Provision for loan losses 780,000 70,000 1,040,006 190,000
Net interest income after provision for loan losses 2,829,899 2,654,054 9,218,708 6,660,516
Noninterest revenue        
Service charges 104,882 102,979 319,489 304,951
Gain on sale of investment securities 23,720 20,497 23,720 42,212
Gain on sale of loans held for sale 1,438 7,826 23,047 43,395
(Loss) gain on sale of property and equipment (11,043) (11,043) 407,188
Earnings on bank-owned life insurance 126,302 87,616 364,928 264,062
Other 42,784 14,675 119,937 49,194
Total noninterest revenue 288,083 233,593 840,078 1,111,002
Noninterest expenses        
Salaries 1,354,327 1,102,598 4,092,481 3,018,168
Employee benefits 359,987 293,260 1,056,741 809,583
Occupancy 234,310 195,155 709,081 548,817
Advertising 16,305 43,295 91,635 89,109
Furniture and equipment 93,058 85,077 290,818 237,752
Data processing 206,596 154,977 583,407 439,989
Legal services 47,831 52,100 161,278 110,091
Other professional services 284,979 131,353 808,309 291,260
Merger related expenses 196,645 219,417 828,225
Branch consolidation expense 437,424
Deposit insurance premiums 63,571 63,105 251,759 151,970
Foreclosed real estate expense and losses (gains) (1,578) 3,270 6,530 17,157
Other operating 457,466 459,817 1,367,726 1,114,428
Total noninterest expenses 3,116,852 2,780,652 10,076,606 7,656,549
Income (loss) before income taxes 1,130 106,995 (17,820) 114,969
Income tax (benefit) expense (58,239) 234,176 (65,466) 324,830
Net income (loss) $ 59,369 $ (127,181) $ 47,646 $ (209,861)
Net income (loss) per common share:        
Basic (in dollars per share) $ 0.02 $ (0.04) $ 0.01 $ (0.07)
Diluted (in dollars per share) $ 0.02 $ (0.04) $ 0.01 $ (0.07)