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Consolidated Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Assets:    
Cash and due from banks $ 6,664,307 $ 11,480,608
Federal funds sold and other interest-bearing deposits 2,457,045 3,137,629
Cash and cash equivalents 9,121,352 14,618,237
Certificate of deposit in other bank 100,000 100,000
Securities available for sale 36,531,774 26,591,991
Securities held to maturity 19,510,018 18,127,067
Equity security at fair value 532,321 503,827
Federal Home Loan Bank stock, at cost 376,200 575,800
Mortgage loans held for sale 242,000 573,638
Loans, less allowance for loan losses of $2,593,715 and $2,509,334 359,382,843 340,900,635
Premises and equipment 5,036,851 5,075,310
Accrued interest receivable 1,019,540 990,529
Deferred income taxes 1,036,078 1,179,454
Other real estate owned 210,150
Bank owned life insurance 7,145,477 7,053,354
Other assets 2,180,644 657,885
442,215,098 417,157,877
Deposits:    
Noninterest-bearing 60,659,015 62,717,520
Interest-bearing 315,954,299 291,995,483
Total deposits 376,613,314 354,713,003
Securities sold under repurchase agreements 10,958,118 11,012,000
Federal Home Loan Bank of Atlanta advances 3,000,000
Accrued interest payable 346,214 311,489
Other liabilities 4,843,936 2,726,678
392,761,582 371,763,170
Stockholders' equity:    
Common stock, par value $.01 per share, authorized 5,000,000 shares; issued and outstanding 2,974,019 shares in 2019 and 1,682,997 shares in 2018 29,740 16,830
Additional paid-in capital 27,812,991 27,324,794
Retained earnings 21,568,161 18,621,382
Accumulated other comprehensive income (loss) 42,624 (568,299)
49,453,516 45,394,707
$ 442,215,098 $ 417,157,877