XML 14 R4.htm IDEA: XBRL DOCUMENT v3.25.3
Condensed Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Interest Income        
Loans and leases $ 19,676,223 $ 18,070,712 $ 57,632,973 $ 53,132,574
Investment securities 1,933,714 2,002,123 5,817,466 6,178,777
Other 203,430 188,197 577,092 545,183
Total interest income 21,813,367 20,261,032 64,027,531 59,856,534
Interest Expense        
Deposits 7,757,269 8,331,483 23,413,643 23,398,461
Borrowings 2,761,137 2,496,750 8,301,414 7,616,600
Total interest expense 10,518,406 10,828,233 31,715,057 31,015,061
Net Interest Income 11,294,961 9,432,799 32,312,474 28,841,473
Provision for (reversal of) credit losses 268,674 (98,848) 1,744,459 354,758
Net Interest Income After Provision for (Reversal of) Credit Losses 11,026,287 9,531,647 30,568,015 28,486,715
Non-interest Income        
Service charges on deposit accounts 319,433 325,470 925,343 908,121
Card fee income 316,425 301,384 950,849 893,031
Loan and lease servicing fees 164,032 122,106 412,270 381,060
Net gains (loss) on securities (includes $0, $11,331, $(156,859), and $(50,698), respectively, related to accumulated other comprehensive income reclassifications)  0 11,331 (156,859) (50,698)
Net gains on loan and lease sales 94,280 211,102 290,723 420,740
Other income 404,059 353,787 1,118,084 1,013,953
Total non-interest income 1,298,229 1,325,180 3,540,410 3,566,207
Non-interest Expenses        
Salaries and employee benefits 4,500,594 4,580,929 13,979,656 13,826,856
Net occupancy expenses 340,023 332,479 1,071,294 1,005,702
Equipment expenses 234,667 233,619 742,464 699,175
Data processing fees 955,062 894,080 2,782,562 2,680,029
Deposit insurance expense 306,000 380,000 949,000 1,163,000
Printing and office supplies 47,528 31,816 130,519 124,225
Legal and professional fees 540,344 463,108 1,518,935 1,376,585
Advertising expense 109,563 111,183 273,400 281,999
Bank service charges 37,379 66,191 121,717 183,427
Real estate owned expense 8,425 3,883 11,712 16,370
Other expenses 1,003,180 918,246 2,984,382 2,767,545
Total non-interest expenses 8,082,765 8,015,534 24,565,641 24,124,913
Income Before Income Tax Expense 4,241,751 2,841,293 9,542,784 7,928,009
Provision for income taxes (includes $0, $2,380, $(32,940), and $(10,647), respectively, related to income tax expense (benefit) from reclassification of items) 644,745 369,415 1,375,470 1,026,636
Net Income $ 3,597,006 $ 2,471,878 $ 8,167,314 $ 6,901,373
Earnings Per Share        
Basic (in USD per share) $ 0.37 $ 0.25 $ 0.84 $ 0.68
Diluted (in USD per share) $ 0.36 $ 0.24 $ 0.82 $ 0.68