XML 35 R4.htm IDEA: XBRL DOCUMENT v3.3.0.814
Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest income:        
Interest and fees on loans $ 3,215,018 $ 3,066,809 $ 9,424,445 $ 9,074,278
Interest on taxable securities available for sale 264,592 270,300 825,897 765,842
Interest on taxable securities held to maturity 60,699 80,051 198,004 253,583
Interest on tax exempt securities 313,436 264,330 929,409 790,511
Dividends 17,941 26,299 53,613 51,216
Interest on deposits in other banks 14,426 5,837 41,530 39,674
Interest on certificates of deposit in other banks 2,877 8,573 9,652 27,210
Total interest income 3,888,989 3,722,199 11,482,550 11,002,314
Interest expense:        
Interest on deposits 202,174 177,944 588,348 565,788
Interest on federal funds purchased 86 59 423 62
Interest on other short-term borrowings 18,688 13,432 47,245 153,845
Interest on long-term debt 104,398 114,554 328,493 321,782
Total interest expense 325,346 305,989 964,509 1,041,477
Net interest income 3,563,643 3,416,210 10,518,041 9,960,837
Provision for loan losses 51,300 75,000 141,300 255,000
Net interest income after provision for loan losses 3,512,343 3,341,210 10,376,741 9,705,837
Noninterest income:        
Service charges on deposit accounts 283,612 307,391 839,519 963,044
Income from trust services 52,552 74,472 190,408 187,691
Income from retail brokerage services 82,436 79,788 280,638 270,493
Income from insurance services 331,052 284,680 1,066,898 992,343
Income from mortgage banking services 79,657 188,501 235,666 534,573
Net gain on sale or disposition of assets 252 36,196 22,092 56,643
Net gain on sale of securities 0 139,057 3,587 293,508
Other income 178,925 173,076 575,519 572,866
Total noninterest income 1,008,486 1,283,161 3,214,327 3,871,161
Noninterest expense:        
Salaries and employee benefits 1,907,517 2,134,177 5,879,758 6,273,358
Occupancy expense 298,935 271,402 855,002 780,925
Equipment expense 226,560 227,359 664,623 659,622
Data processing expense 313,905 281,627 921,314 839,130
Amortization of intangible assets 3,906 3,906 11,719 41,025
Other operating expenses 708,257 694,121 2,107,120 2,151,140
Total noninterest expenses 3,459,080 3,612,592 10,439,536 10,745,200
Income before income taxes 1,061,749 1,011,779 3,151,532 2,831,798
Provision for income taxes 204,468 208,223 620,936 590,308
Net income $ 857,281 $ 803,556 $ 2,530,596 $ 2,241,490
Earnings per share of common stock:        
Net income, basic $ 0.33 $ 0.32 $ 0.99 $ 0.88
Net income, diluted 0.33 0.32 0.99 0.88
Dividends paid per share $ 0.1 $ 0.08 $ 0.3 $ 0.24
Weighted average shares outstanding 2,547,837 2,547,837 2,547,837 2,547,837
Diluted average shares outstanding 2,547,837 2,547,837 2,547,837 2,547,837