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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Interest income    
Interest and fees on loans $ 3,876,008 $ 3,438,270
Interest on securities 148,581 130,466
Interest on other interest-earning assets 68,030 53,981
Total interest income 4,092,619 3,622,717
Interest expense    
Interest on deposits 493,736 376,308
Interest on borrowings 149,430 103,075
Total interest expense 643,166 479,383
Net interest income 3,449,453 3,143,334
Provision for loan losses 22,000 250,000
Net interest income after provision for loan losses 3,427,453 2,893,334
Noninterest income    
Gain on sale of loans 3,353,393 1,964,472
Service charges and fees 84,389 85,957
Bank owned life insurance income 88,597 42,813
Other 24,606 6,791
Total noninterest income 3,550,985 2,100,033
Noninterest expense    
Salaries and benefits 4,229,977 3,299,346
Occupancy 505,951 423,758
Data processing fees 723,406 607,023
FDIC and other insurance expense 50,533 56,611
Professional fees 327,056 377,870
Advertising 156,026 141,881
Net other real estate expenses 80
Other 519,719 430,220
Total noninterest expense 6,512,668 5,336,789
Income (loss) before income taxes 465,770 (343,422)
Provision (benefit) for income taxes 95,143 (145,672)
NET INCOME (LOSS) 370,627 (197,750)
Other comprehensive (loss) income    
Unrealized (loss) gain on available-for-sale securities, net of $88,680 and (5,153) tax, respectively (258,588) 8,512
COMPREHENSIVE INCOME (LOSS) $ 112,039 $ (189,238)
Earnings per common share:    
Basic (in dollars per share) $ 0.11 $ (0.06)
Diluted (in dollars per share) $ 0.11 $ (0.06)