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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Interest revenue        
Loans, including fees $ 4,403,945 $ 3,938,627 $ 8,811,889 $ 7,786,639
U.S. treasuries, government agencies and FHLB stock 63,214 46,513 116,903 79,198
Municipal and corporate bonds 94,654 112,571 189,065 226,540
Mortgage-backed securities 265,395 314,572 540,403 653,478
Federal funds sold and other bank deposits 113,532 26,738 224,251 81,146
Total interest revenue 4,940,740 4,439,021 9,882,511 8,827,001
Interest expense        
Deposits 920,018 669,605 1,795,082 1,330,063
Borrowed funds 272,439 158,634 531,028 292,904
Total interest expense 1,192,457 828,239 2,326,110 1,622,967
Net interest income 3,748,283 3,610,782 7,556,401 7,204,034
Provision for loan losses 242,496 120,000 302,496 280,000
Net interest income after provision for loan losses 3,505,787 3,490,782 7,253,905 6,924,034
Noninterest revenue        
Service charges 120,966 118,851 241,549 238,050
Gain on sale of investment securities 10,381 10,381
Gain on sale of loans held for sale 16,331 25,873
Earnings on bank-owned life insurance 115,126 123,818 228,651 246,393
Other 43,793 41,394 90,917 66,112
Total noninterest revenue 296,216 294,444 586,990 560,936
Noninterest expenses        
Salaries 1,527,455 1,510,515 2,995,036 2,970,512
Employee benefits 334,301 348,313 746,144 741,487
Occupancy 243,186 239,415 515,014 500,253
Advertising 14,958 14,170 31,982 41,198
Furniture and equipment 78,972 85,754 169,271 169,738
Data processing 208,888 181,506 401,541 346,356
Legal services 67,623 119,104 123,962 220,994
Other professional services 103,219 212,519 201,535 392,820
Deposit insurance premiums 112,821 73,762 213,930 130,890
Foreclosed real estate expense and losses 9,302 113 9,302 1,299
Other operating 436,740 431,717 889,207 854,366
Total noninterest expense 3,137,465 3,216,888 6,296,924 6,369,913
Income before income taxes 664,538 568,338 1,543,971 1,115,057
Income tax expense 157,585 311,927
Net Income $ 664,538 $ 410,753 $ 1,543,971 $ 803,130
Net income per common share:        
Basic (in dollars per share) $ 0.21 $ 0.13 $ 0.48 $ 0.25
Diluted (in dollars per share) $ 0.21 $ 0.13 $ 0.48 $ 0.25