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Consolidated Statements of Income - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Interest income:    
Loans, including fees $ 16,894,657 $ 16,401,554
Investment securities - taxable 869,457 610,951
Investment securities - tax exempt 580,384 570,529
Federal funds sold and other interest earning assets 357,840 185,299
Total interest income 18,702,338 17,768,333
Interest expense:    
Deposits 3,519,960 2,225,616
Securities sold under repurchase agreements 114,641 144,881
Federal Home Loan Bank advances and other borrowings 45,352 136,744
Total interest expense 3,679,953 2,507,241
Net interest income 15,022,385 15,261,092
Provision for loan losses 40,000 475,000
Net interest income after provision for loan losses 14,982,385 14,786,092
Noninterest income:    
Mortgage banking income 397,710 271,767
Bank owned life insurance income 364,729 161,764
Unrealized gain (loss) on equity security 16,232 (11,429)
Write down of other real estate owned (210,150) (55,350)
Gain on sale of SBA loans 139,535 226,026
Total noninterest income 1,493,567 1,365,273
Noninterest expense:    
Salaries 5,472,609 5,194,871
Employee benefits 1,352,202 1,313,392
Occupancy 771,917 706,193
Furniture and equipment 614,543 632,330
Other 2,664,543 2,485,694
Total noninterest expense 10,875,814 10,332,480
Income before income taxes 5,600,138 5,818,885
Income taxes 1,039,334 1,106,209
Net income $ 4,560,804 $ 4,712,676
Earnings per share - basic and diluted (in dollars per share) $ 1.54 $ 1.61
Deposit Account [Member]    
Noninterest income:    
Noninterest revenue $ 663,675 $ 670,653
Financial Service, Other [Member]    
Noninterest income:    
Noninterest revenue $ 121,836 $ 101,842