XML 17 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
Consolidated Statements of Comprehensive Income - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Interest income    
Interest and fees on loans $ 16,605,046 $ 15,221,018
Interest on securities 654,444 528,936
Interest on other interest-earning assets 362,047 214,608
Total interest income 17,621,537 15,964,562
Interest expense    
Interest on deposits 2,430,616 1,672,541
Interest on borrowings 1,174,858 599,430
Total interest expense 3,605,474 2,271,971
Net interest income 14,016,063 13,692,591
Provision for loan losses 318,000 575,000
Net interest income after provision for loan losses 13,698,063 13,117,591
Noninterest income    
Gain on sale of loans 14,421,823 11,450,457
Service charges and fees 367,346 367,497
Loss on sale of securities (176,089)
Bank owned life insurance income 365,705 211,484
Other 38,888 52,915
Total noninterest income 15,193,762 11,906,264
Noninterest expense    
Salaries and benefits 18,198,130 14,415,349
Occupancy 2,101,678 1,942,822
Data processing fees 2,960,465 2,344,092
FDIC and other insurance expense 206,633 186,650
Professional fees 1,123,838 1,415,932
Advertising 527,142 453,976
Net other real estate expenses 80
Other 2,284,726 1,935,935
Total noninterest expense 27,402,612 22,694,836
Income before provision for income taxes 1,489,213 2,329,019
Provision for income taxes 415,699 1,968,428
NET INCOME 1,073,514 360,591
Other comprehensive income    
Unrealized (loss) gain on available-for-sale securities (223,210) 143,906
Tax effect of unrealized (loss) gain on available-for-sale securities 57,107 (54,735)
Unrealized (loss) gain on available-for-sale securities, net of tax (166,103) 89,171
COMPREHENSIVE INCOME $ 907,411 $ 449,762
Earnings per common share:    
Basic (in dollars per share) $ 0.33 $ 0.11
Diluted (in dollars per share) $ 0.33 $ 0.11