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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Interest and dividend income:    
Interest and fees on loans $ 2,860,592 $ 2,398,669
Securities:    
Residential mortgage-backed and related securities 82,461 67,466
State and municipal securities 97,411 100,448
Dividends on non-marketable equity securities 6,434 4,186
Interest-bearing deposits 45,378 15,794
Total interest and dividend income 3,092,276 2,586,563
Interest expense:    
Deposits 608,390 332,524
Borrowings 72,701 48,144
Total interest expense 681,091 380,668
Net interest income 2,411,185 2,205,895
Provision for loan losses 130,000 125,500
Net interest income after provision for loan losses 2,281,185 2,080,395
Other income:    
Gain on sale of loans 84,957 133,211
Gain on sale of foreclosed real estate 42,035
Loan origination and servicing income 154,283 162,872
Origination of mortgage servicing rights, net of amortization (9,690) 12,854
Increase in cash surrender value of life insurance 11,934 11,770
Other 21,762 24,938
Total other income 379,112 510,675
Other expenses:    
Salaries and employee benefits 1,098,558 1,012,444
Directors fees 43,000 48,000
Occupancy 170,950 174,071
Deposit insurance premium 17,100 16,396
Legal and professional services 95,535 88,701
Data processing 186,588 154,773
Loan expense 164,412 168,807
Valuation adjustments and expenses on foreclosed real estate 5,584 9,012
Loss on sale of repossessed assets 748 2,708
Other 282,887 264,416
Total other expenses 2,065,362 1,939,328
Income before income tax expense 594,935 651,742
Income tax expense 194,865 172,160
Net income $ 400,070 $ 479,582
Basic earnings per share (in dollars per share) $ 0.13 $ 0.15
Diluted earnings per share (in dollars per share) 0.13 0.15
Dividends per share (in dollars per share) $ 0.06 $ 0.115
Bank Servicing [Member]    
Other income:    
Customer service fees $ 115,866 $ 122,995