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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Interest revenue        
Loans, including fees $ 3,938,627 $ 3,831,123 $ 7,786,639 $ 7,147,796
U.S. treasuries, government agencies and FHLB stock 46,513 62,534 79,198 149,108
Municipal and corporate bonds 112,571 69,640 226,540 118,667
Mortgage-backed securities 314,572 287,231 653,478 518,728
Federal funds sold and other bank deposits 26,738 52,734 81,146 119,438
Total interest revenue 4,439,021 4,303,262 8,827,001 8,053,737
Interest expense        
Deposits 669,605 674,470 1,330,063 1,286,282
Borrowed funds 158,634 76,569 292,904 118,641
Total interest expense 828,239 751,039 1,622,967 1,404,923
Net interest income 3,610,782 3,552,223 7,204,034 6,648,814
Provision for loan losses 120,000 50,006 280,000 260,006
Net interest income after provision for loan losses 3,490,782 3,502,217 6,924,034 6,388,808
Noninterest revenue        
Service charges 118,851 119,487 238,050 214,608
Gain on sale of investment securities 10,381 10,381
Gain on sale of loans held for sale 10,437 21,609
Earnings on bank-owned life insurance 123,818 126,100 246,393 238,626
Other 41,394 26,474 66,112 77,153
Total noninterest revenue 294,444 282,498 560,936 551,996
Noninterest expenses        
Salaries 1,510,515 1,355,548 2,970,512 2,738,154
Employee benefits 348,313 347,420 741,487 696,754
Occupancy 239,415 258,871 500,253 474,771
Advertising 14,170 43,979 41,198 75,330
Furniture and equipment 85,754 99,437 169,738 197,760
Data processing 181,506 191,088 346,356 376,811
Legal services 119,104 63,185 220,994 113,448
Other professional services 212,519 342,400 392,820 545,514
Merger related expenses 9,081 197,233
Branch consolidation expense 437,424
Deposit insurance premiums 73,762 110,989 130,890 188,188
Foreclosed real estate expense and losses (gains) 113 1,299 8,108
Other operating 431,717 428,658 854,366 910,260
Total noninterest expense 3,216,888 3,250,656 6,369,913 6,959,755
Income (loss) before income taxes 568,338 534,059 1,115,057 (18,951)
Income tax expense (benefit) 157,585 210,573 311,927 (7,228)
Net income (loss) $ 410,753 $ 323,486 $ 803,130 $ (11,723)
Net income (loss) per common share:        
Basic (in dollars per share) $ 0.13 $ 0.10 $ 0.25 $ 0
Diluted (in dollars per share) $ 0.13 $ 0.10 $ 0.25 $ 0