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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest Income        
Loans and leases $ 19,182,992 $ 17,811,140 $ 37,956,750 $ 35,061,862
Investment securities 1,920,303 2,056,431 3,883,752 4,176,654
Other 242,842 217,738 373,662 356,986
Total interest income 21,346,137 20,085,309 42,214,164 39,595,502
Interest Expense        
Deposits 7,811,994 8,001,214 15,656,374 15,066,978
Borrowings 2,774,702 2,508,202 5,540,277 5,119,850
Total interest expense 10,586,696 10,509,416 21,196,651 20,186,828
Net Interest Income 10,759,441 9,575,893 21,017,513 19,408,674
Provision for credit losses 744,690 270,472 1,475,785 453,606
Net Interest Income After Provision for Credit Losses 10,014,751 9,305,421 19,541,728 18,955,068
Non-interest Income        
Service charges on deposit accounts 309,936 309,720 605,910 582,651
Card fee income 335,944 301,461 634,424 591,647
Loan and lease servicing fees 135,880 131,712 248,238 258,954
Net loss on securities (includes $(156,859), $(62,029), $(156,859), and $(62,029), respectively, related to accumulated other comprehensive income reclassifications)  (156,859) (62,029) (156,859) (62,029)
Net gains on loan and lease sales 101,338 90,321 196,443 209,638
Other income 353,698 340,907 714,025 660,166
Total non-interest income 1,079,937 1,112,092 2,242,181 2,241,027
Non-interest Expenses        
Salaries and employee benefits 4,767,107 4,672,220 9,479,062 9,245,927
Net occupancy expenses 342,971 328,869 731,271 673,223
Equipment expenses 263,307 229,340 507,797 465,556
Data processing fees 925,536 879,158 1,827,500 1,785,949
Deposit insurance expense 304,000 380,000 643,000 783,000
Printing and office supplies 34,518 57,733 82,991 92,409
Legal and professional fees 447,674 480,924 978,591 913,477
Advertising expense 98,225 82,093 163,837 170,816
Bank service charges 37,720 56,530 84,338 117,236
Real estate owned expense 1,225 11,161 3,287 12,487
Other expenses 887,980 873,845 1,981,202 1,849,299
Total non-interest expenses 8,110,263 8,051,873 16,482,876 16,109,379
Income Before Income Tax Expense 2,984,425 2,365,640 5,301,033 5,086,716
Provision for income taxes (includes $32,940, $13,026, $32,940, and $13,026, respectively, related to income tax benefit from reclassification of items) 382,427 305,061 730,725 657,221
Net Income $ 2,601,998 $ 2,060,579 $ 4,570,308 $ 4,429,495
Earnings Per Share        
Basic (in USD per share) $ 0.27 $ 0.20 $ 0.47 $ 0.44
Diluted (in USD per share) $ 0.26 $ 0.20 $ 0.46 $ 0.43