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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Interest revenue        
Loans, including fees $ 4,259,628 $ 4,104,127 $ 13,071,517 $ 11,890,765
U.S. treasuries, government agencies and FHLB stock 48,499 37,836 165,402 117,034
Municipal and corporate bonds 94,773 102,847 283,838 329,386
Mortgage-backed securities 271,072 297,851 811,475 951,330
Federal funds sold and other bank deposits 113,357 18,998 337,608 100,145
Total interest revenue 4,787,329 4,561,659 14,669,840 13,388,660
Interest expense        
Deposits 1,020,221 714,350 2,815,303 2,044,413
Borrowed funds 328,819 209,926 859,847 502,830
Total interest expense 1,349,040 924,276 3,675,150 2,547,243
Net interest income 3,438,289 3,637,383 10,994,690 10,841,417
Provision for loan losses 80,000 345,000 382,496 625,000
Net interest income after provision for loan losses 3,358,289 3,292,383 10,612,194 10,216,417
Noninterest revenue        
Service charges 123,885 109,151 365,434 347,201
Loss on sale of investment securities (12,736) (2,356)
Gain on sale of loans held for sale 8,609 34,482
Gain on sale of property and equipment 212,743 212,743
Earnings on bank-owned life insurance 115,419 123,597 344,070 369,991
Other 33,260 29,860 124,177 95,972
Total noninterest revenue 281,173 462,615 868,163 1,023,551
Noninterest expenses        
Salaries 1,675,976 1,445,336 4,671,013 4,415,848
Employee benefits 351,670 373,699 1,097,813 1,115,185
Occupancy 253,488 259,595 768,502 759,848
Advertising 21,524 22,487 53,506 63,685
Furniture and equipment 103,400 92,894 272,671 262,632
Data processing 202,915 176,114 604,456 522,469
Legal services 70,115 153,615 138,314 374,610
Other professional services 96,510 218,879 298,045 611,699
Merger related expenses 502,835 558,598
Deposit insurance premiums 56,760 91,470 270,690 222,359
Foreclosed real estate expense and losses 4,447 43,706 13,749 45,005
Other operating 424,505 452,423 1,313,712 1,306,791
Total noninterest expense 3,764,145 3,330,218 10,061,069 9,700,131
Income before income taxes (124,683) 424,780 1,419,288 1,539,837
Income tax expense 2,351,970 2,663,897
Net (loss) income $ (124,683) $ (1,927,190) $ 1,419,288 $ (1,124,060)
Net (loss) income per common share:        
Basic (in dollars per share) $ (0.04) $ (0.60) $ 0.44 $ (0.35)
Diluted (in dollars per share) $ (0.04) $ (0.60) $ 0.44 $ (0.35)