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Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Interest income        
Interest and fees on loans $ 4,392,927 $ 4,137,941 $ 12,960,225 $ 11,680,622
Interest on securities 242,638 172,342 696,711 468,330
Interest on other interest-earning assets 131,181 103,818 381,435 245,394
Total interest income 4,766,746 4,414,101 14,038,371 12,394,346
Interest expense        
Interest on deposits 999,703 635,340 2,773,053 1,642,042
Interest on borrowings 242,055 258,699 785,918 511,769
Total interest expense 1,241,758 894,039 3,558,971 2,153,811
Net interest income 3,524,988 3,520,062 10,479,400 10,240,535
Provision for loan losses 172,500 93,000
Net interest income after provision for loan losses 3,524,988 3,520,062 10,306,900 10,147,535
Noninterest income        
Gain on sale of loans 199,834 258,131 122,988
Service charges and fees 150,915 94,581 360,182 273,545
Bank owned life insurance 93,859 93,214 277,830 272,960
Other 11,223 6,449 32,214 33,390
Total noninterest income 455,831 194,244 928,357 702,883
Noninterest expense        
Salaries and benefits 1,773,253 1,635,943 5,005,322 4,665,035
Occupancy 389,598 363,656 1,090,290 1,061,662
Data processing fees 602,029 383,802 1,594,688 1,152,756
FDIC and other insurance (credit) expense (17,962) 48,941 128,101 150,806
Professional fees 221,744 245,749 631,234 757,132
Advertising 98,203 33,968 202,401 115,032
Other 276,995 298,485 779,635 893,085
Total noninterest expense 3,343,860 3,010,544 9,431,671 8,795,508
Income from continuing operations before provision for income taxes 636,959 703,762 1,803,586 2,054,910
Provision for income taxes 184,575 159,820 451,327 469,645
Net income from continuing operations 452,384 543,942 1,352,259 1,585,265
Discontinued operations        
Loss from discontinued operations (537,080) (1,590,638) (923,601)
Benefit for income taxes (135,380) (392,193) (230,766)
Net loss from discontinued operations (401,700) (1,198,445) (692,835)
NET INCOME 452,384 142,242 153,814 892,430
Other comprehensive income        
Unrealized gain (loss) on available-for-sale securities 224,934 (183,705) 1,212,952 (674,063)
Tax effect of unrealized (gain) loss on available-for-sale securities (39,720) 46,753 (291,170) 171,849
Unrealized gain (loss) on available-for-sale securities, net of tax 185,214 (136,952) 921,782 (502,214)
COMPREHENSIVE INCOME $ 637,598 $ 5,290 $ 1,075,596 $ 390,216
Earnings per common share - Basic        
Earnings per common share - continuing operations (in dollars per share) $ 0.15 $ 0.17 $ 0.43 $ 0.50
Loss per common share - discontinued operations (in dollars per share) (0.13) (0.38) (0.22)
Earnings per common share - Basic (in dollars per share) 0.15 0.04 0.05 0.28
Earnings per common share - Diluted        
Earnings per common share - continuing operations (in dollars per share) 0.15 0.17 0.43 0.49
Loss per common share - discontinued operations (in dollars per share) (0.13) (0.38) (0.22)
Earnings per common share - Diluted (in dollars per share) $ 0.15 $ 0.04 $ 0.05 $ 0.27