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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Interest income:    
Loans, including fees $ 10,466,758 $ 9,268,272
Securities:    
Taxable 1,002,896 898,038
Tax-exempt 325,916 282,244
Federal funds sold 2,305 4,138
Restricted equity securities 76,286 69,108
Interest-bearing deposits in financial institutions 104,791 76,378
Total interest income 11,978,952 10,598,178
Interest expense:    
Interest-bearing deposits 617,466 301,633
Savings and money market accounts 815,092 731,702
Time deposits 470,645 514,445
Federal funds purchased 3,910 2,083
Securities sold under agreements to repurchase   1,311
Federal Home Loan Bank advances 140,259 90,728
Total interest expense 2,047,372 1,641,902
Net interest income 9,931,580 8,956,276
Provision for loan and lease losses 3,404,799 937,216
Net interest income after provision for loan and lease losses 6,526,781 8,019,060
Noninterest income:    
Service charges on deposit accounts 328,585 225,427
Loan commitment fees 236,274 430,122
Net gain (loss) on sale of securities (6,229) 38,961
Mortgage banking income 1,216,362 1,347,452
Other noninterest income 358,554 328,810
Total noninterest income 2,133,546 2,370,772
Noninterest expense:    
Salaries and employee benefits 5,086,451 5,217,755
Data processing and software 620,508 568,477
Professional fees 364,553 330,738
Occupancy 448,798 409,881
Equipment 496,196 406,571
Regulatory fees 307,060 227,260
Other operating 1,051,871 849,059
Total noninterest expense 8,375,437 8,009,741
Income before income taxes 284,890 2,380,091
Income tax expense (benefit) (47,168) 796,245
Net income $ 332,058 $ 1,583,846
Per share information:    
Basic net income per share of common stock $ 0.03 $ 0.18
Diluted net income per share of common stock $ 0.03 $ 0.15
Weighted average shares outstanding:    
Basic 11,210,948 8,628,683
Diluted 12,784,117 10,572,193