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Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Interest and dividend income:    
Interest and fees on loans $ 8,677,914 $ 7,291,931
Securities:    
Residential mortgage-backed and related securities 435,673 545,450
State and municipal securities 477,921 537,981
Dividends on non-marketable equity securities 12,084 11,453
Interest-bearing deposits 30,322 36,170
Total interest and dividend income 9,633,914 8,422,985
Interest expense:    
Deposits 963,242 820,316
Borrowings 81,625 36,127
Total interest expense 1,044,867 856,443
Net interest income 8,589,047 7,566,542
Provision for loan losses 575,000 442,500
Net interest income after provision for loan losses 8,014,047 7,124,042
Other income:    
Gain on sale of securities 98,230 8,418
Gain on sale of loans, net 696,754 509,440
Gain on sale of foreclosed real estate 44,773 188,207
Gain on sale of repossessed assets 16,589 10,641
Loan origination and servicing income 633,984 364,142
Origination of mortgage servicing rights, net of amortization 71,978 65,617
Customer service fees 482,525 441,890
Increase in cash surrender value of life insurance 48,222 50,154
Other 115,755 110,012
Total other income 2,208,810 1,748,521
Other expenses:    
Salaries and employee benefits 4,303,658 3,681,189
Directors fees 163,200 163,200
Occupancy 644,103 636,809
Deposit insurance premium 57,189 113,151
Legal and professional services 360,721 308,938
Data processing 593,871 529,665
Loss on sale of securities 127,343 3,261
Loan expense 592,531 446,963
Valuation adjustments and expenses on foreclosed real estate 11,937 104,569
Loss on sale of foreclosed real estate 4,716
Loss on sale of repossessed assets 1,903 4,876
Other 1,048,628 1,014,334
Total other expenses 7,905,084 7,011,671
Income before income tax expense 2,317,773 1,860,892
Income tax expense 1,503,749 599,794
Net income $ 814,024 $ 1,261,098
Basic earnings per share (in dollars per share) $ 0.25 $ 0.43
Diluted earnings per share (in dollars per share) 0.25 0.42
Dividends per share (in dollars per share) $ 0.16