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Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Interest income        
Interest and fees on loans $ 4,414,091 $ 3,793,706 $ 8,567,298 $ 7,542,681
Interest on securities 230,266 147,407 454,073 295,988
Interest on other interest-earning assets 128,265 73,546 250,254 141,576
Total interest income 4,772,622 4,014,659 9,271,625 7,980,245
Interest expense        
Interest on deposits 912,081 512,966 1,773,350 1,006,702
Interest on borrowings 265,698 165,876 543,863 253,070
Total interest expense 1,177,779 678,842 2,317,213 1,259,772
Net interest income 3,594,843 3,335,817 6,954,412 6,720,473
Provision for loan losses 85,000 71,000 172,500 93,000
Net interest income after provision for loan losses 3,509,843 3,264,817 6,781,912 6,627,473
Noninterest income        
Gain on sale of loans 31,390 15,043 58,297 122,988
Service charges and fees 114,068 94,575 209,267 178,964
Bank owned life insurance income 92,709 91,149 183,971 179,746
Other 9,835 2,335 20,991 26,941
Total noninterest income 248,002 203,102 472,526 508,639
Noninterest expense        
Salaries and benefits 1,644,543 1,486,626 3,232,069 3,029,092
Occupancy 349,276 351,194 700,692 698,006
Data processing fees 507,933 367,954 992,659 768,954
FDIC and other insurance expense 60,460 51,332 146,063 101,865
Professional fees 227,331 216,518 409,490 511,383
Advertising 38,141 31,469 104,198 81,064
Other 269,152 295,000 502,640 594,600
Total noninterest expense 3,096,836 2,800,093 6,087,811 5,784,964
Income from continuing operations before provision for income taxes 661,009 667,826 1,166,627 1,351,148
Provision for income taxes 148,277 162,295 266,752 309,824
Net income from continuing operations 512,732 505,531 899,875 1,041,324
Discontinued operations        
Loss from discontinued operations (1,132,237) (168,969) (1,590,638) (386,521)
Benefit for income taxes (279,727) (42,999) (392,193) (95,385)
Net loss from discontinued operations (852,510) (125,970) (1,198,445) (291,136)
NET (LOSS) INCOME (339,778) 379,561 (298,570) 750,188
Other comprehensive income        
Unrealized gain (loss) on available-for-sale securities 634,099 (143,091) 988,018 (490,359)
Tax effect of unrealized (gain) loss on available-for-sale securities (161,378) 36,417 (251,450) 125,097
Unrealized gain (loss) on available-for-sale securities, net of tax 472,721 (106,674) 736,568 (365,262)
COMPREHENSIVE INCOME $ 132,943 $ 272,887 $ 437,998 $ 384,926
(Loss) Earnings per common share - Basic        
Earnings per common share - continuing operations (in dollars per share) $ 0.16 $ 0.16 $ 0.29 $ 0.32
Loss per common share - discontinued operations (in dollars per share) (0.27) (0.04) (0.38) (0.09)
(Loss) Earnings per common share - Basic (in dollars per share) (0.11) 0.12 (0.09) 0.23
(Loss) Earnings per common share - Diluted        
Earnings per common share - continuing operations (in dollars per share) 0.16 0.16 0.29 0.32
Loss per common share - discontinued operations (in dollars per share) (0.27) (0.04) (0.38) (0.09)
(Loss) Earnings per common share - Diluted (in dollars per share) $ (0.11) $ 0.12 $ (0.09) $ 0.23