XML 13 R4.htm IDEA: XBRL DOCUMENT v3.22.1
Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Interest income:    
Loans, including fees $ 5,683,362 $ 5,984,657
Investment securities - taxable 644,461 211,224
Investment securities - tax exempt 149,487 160,574
Federal funds sold and other interest earning assets 12,415 14,137
Total interest income 6,489,725 6,370,592
Interest expense:    
Deposits 338,560 595,520
Securities sold under repurchase agreements 3,251 13,511
Federal Home Loan Bank advances and other borrowings 183,825 188,106
Total interest expense 525,636 797,137
Net interest income 5,964,089 5,573,455
Provision for loan losses 0 120,000
Net interest income after provision for loan losses 5,964,089 5,453,455
Noninterest income:    
Mortgage banking income 122,688 256,267
Bank owned life insurance income 52,990 70,119
Fair value adjustment on equity security (26,817) (8,669)
Gain on sale of SBA loans 93,600 0
Gain on premium call of debt security 0 8,569
Total noninterest income 495,807 556,945
Noninterest expense:    
Salaries 1,740,395 1,626,338
Employee benefits 511,792 472,888
Occupancy 228,427 250,212
Furniture and equipment 214,615 196,683
Other 1,104,369 849,003
Total noninterest expense 3,799,598 3,395,124
Income before income taxes 2,660,298 2,615,276
Income taxes 609,496 585,701
Net income $ 2,050,802 $ 2,029,575
Earnings per share - basic and diluted (in dollars per share) $ 0.68 $ 0.67
Deposit Account [Member]    
Noninterest income:    
Noninterest revenue $ 181,466 $ 159,191
Financial Service, Other [Member]    
Noninterest income:    
Noninterest revenue $ 71,880 $ 71,468