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Statements of Income - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Interest and Dividend Income:    
Interest and fees on loans $ 14,009,944 $ 12,822,564
Interest and dividends on taxable investment securities 862,572 439,153
Interest on deposits with other banks and federal fund sold 584,357 202,452
Total interest and dividend income 15,456,873 13,464,169
Interest Expense    
Interest on deposits 1,301,618 977,150
Interest on borrowings 55,300 40,137
Total interest expense 1,356,918 1,017,287
Net interest income 14,099,955 12,446,882
Provision for for Loan Losses 110,905 123,183
Net interest income after provision for allowance for loan losses 13,989,050 12,323,699
Other Income:    
Service charges on deposits accounts 554,856 576,139
Gain on sale of mortgage loans 971,970 2,064,404
Bank owned life insurance income 276,080 283,145
Other 105,159 29,412
Total other income 1,908,065 2,953,100
Other Expense:    
Salaries and employee benefits 8,008,837 7,429,568
Occupancy and equipment 827,785 819,303
Other real estate owned, net of operations, loss on sales and write-downs 131,606 111,590
Data processing conversion costs 0 503
Other 4,493,002 3,452,365
Total other expense 13,461,230 11,813,329
Income Before Income Taxes 2,435,885 3,463,470
Income tax (benefit) expense 675,472 823,013
Net Income $ 1,760,413 $ 2,640,457
Earnings per share:    
Basic $ 0.36 $ 0.27
Diluted $ 0.36 $ 0.27
Weighted Average Shares Outstanding:    
Basic 4,880,723 4,371,646
Diluted 4,881,923 4,371,646