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Consolidated Statements of Income - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest income:        
Loans receivable $ 742,852 $ 725,320 $ 1,482,516 $ 1,448,145
Investment securities - taxable 219,221 153,198 379,950 305,449
Investment securities - tax exempt 55,338 70,839 118,131 143,345
Other interest earning assets 37,194 22,263 71,236 41,828
Total interest income 1,054,605 971,620 2,051,832 1,938,767
Interest expense:        
Deposits 163,936 148,731 328,317 298,104
FHLB advances 78,285 15,248 155,710 30,098
Total interest expense 242,221 163,979 484,027 328,202
Net interest income 812,384 807,641 1,567,805 1,610,565
Provision for losses on loans 19,500 18,000 39,000 36,000
Net interest income after provision for losses on loans 792,884 789,641 1,528,805 1,574,565
Noninterest income:        
Fees and service charges 113,260 117,703 209,392 216,769
Loss on sale of securities available-for-sale, net 0 0 (14,465) 0
Increase in cash value - bank-owned life insurance 23,622 25,531 46,931 67,086
Gain on sale of land 0 0 435,818 0
Other (loss) income (4,884) 19,119 (14,807) 36,819
Total noninterest income 131,998 162,353 662,870 320,674
Noninterest expense:        
Compensation, payroll taxes, and employee benefits 387,506 391,128 756,408 759,930
Advertising 17,335 25,587 35,111 44,334
Office property and equipment 101,703 107,596 209,607 231,403
Federal insurance premiums 8,506 8,966 16,617 16,915
Data processing services 117,670 118,130 240,997 226,134
Charitable contributions 450 5,600 3,086 6,505
Other real estate expenses, net 7,117 4,477 12,040 6,691
Dues and subscriptions 9,002 7,868 19,798 16,394
Accounting, regulatory and professional fees 159,106 192,986 298,243 335,929
Debit card expenses 1,500 2,210 2,623 4,407
Other expenses 101,534 90,838 193,165 182,594
Total noninterest expense 911,429 955,386 1,787,695 1,831,236
Earnings before taxes on income 13,453 (3,392) 403,980 64,003
Tax expense (benefit) (13,003) (31,921) 92,999 (42,400)
Net income $ 26,456 $ 28,529 $ 310,981 $ 106,403
Basic earnings per common share (in usd per share) $ 0.01 $ 0.01 $ 0.13 $ 0.04
Diluted earnings per common share (in usd per share) $ 0.01 $ 0.01 $ 0.13 $ 0.04