XML 17 R4.htm IDEA: XBRL DOCUMENT v3.8.0.1
Consolidated Statements of Comprehensive Income - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Interest income    
Interest and fees on loans $ 15,221,018 $ 12,923,716
Interest on securities 528,936 473,242
Interest on other interest-earning assets 214,608 104,860
Total interest income 15,964,562 13,501,818
Interest expense    
Interest on deposits 1,672,541 1,475,738
Interest on borrowings 599,430 208,316
Total interest expense 2,271,971 1,684,054
Net interest income 13,692,591 11,817,764
Provision for loan losses 575,000 1,019,000
Net interest income after provision for loan losses 13,117,591 10,798,764
Noninterest income    
Gain on sale of loans 11,450,457 10,687,005
Service charges and fees 367,497 362,007
Loss on sale and impairments of other real estate 0 (89,779)
Loss on sale of securities (176,089) 0
Bank owned life insurance income 211,484 173,826
Other 52,915 80,202
Total noninterest income 11,906,264 11,213,261
Noninterest expense    
Salaries and benefits 14,415,349 13,142,030
Occupancy 1,942,822 1,814,149
Data processing fees 2,344,092 2,024,867
FDIC and other insurance expense 186,650 232,028
Professional fees 1,415,932 1,414,163
Advertising 453,976 310,333
Net other real estate expenses 80 4,043
Other 1,935,935 1,946,875
Total noninterest expense 22,694,836 20,888,488
Income before income taxes 2,329,019 1,123,537
Provision (benefit) for income taxes 1,968,428 (4,171,590)
NET INCOME 360,591 5,295,127
Other comprehensive income (loss)    
Unrealized gain (loss) on available-for-sale securities 89,171 (147,390)
COMPREHENSIVE INCOME $ 449,762 $ 5,147,737
Earnings per common share    
Basic (in dollars per share) $ 0.11 $ 1.57
Diluted (in dollars per share) $ 0.11 $ 1.57