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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Jun. 30, 2016
Jun. 30, 2015
Interest income:        
Interest and fees on loans $ 3,657,204 $ 3,207,956 $ 7,232,337 $ 6,209,427
Interest on taxable securities available for sale 230,182 274,520 512,708 561,306
Interest on taxable securities held to maturity 44,808 66,469 95,323 137,305
Interest on tax exempt securities 315,048 315,637 631,304 615,973
Dividends 23,495 16,934 45,945 35,672
Interest on deposits in other banks 16,567 12,960 38,760 27,103
Interest on certificates of deposit in other banks 0 3,427 52 6,775
Total interest income 4,287,304 3,897,903 8,556,429 7,593,561
Interest expense:        
Interest on deposits 225,460 195,954 433,198 386,174
Interest on federal funds purchased 2 335 5 337
Interest on other short-term borrowings 24,260 14,694 47,578 28,556
Interest on long-term debt 144,269 112,667 288,539 224,095
Total interest expense 393,991 323,650 769,320 639,162
Net interest income 3,893,313 3,574,253 7,787,109 6,954,399
Provision for loan losses 40,000 45,000 70,000 90,000
Net interest income after provision for loan losses 3,853,313 3,529,253 7,717,109 6,864,399
Noninterest income:        
Service charges on deposit accounts 255,251 263,955 531,561 555,907
Income from trust services 51,165 68,181 103,263 137,856
Income from retail brokerage services 87,988 104,420 168,535 198,202
Income from insurance services 341,602 347,147 813,783 735,846
Income from mortgage banking services 92,144 77,951 182,665 156,009
Net gain (loss) on sale or disposition of assets (953) 3,102 (587) 21,840
Net gain on sale of securities 83,961 3,587 111,867 3,587
Other income 185,698 176,984 412,217 396,594
Total noninterest income 1,096,856 1,045,327 2,323,304 2,205,841
Noninterest expense:        
Salaries and employee benefits 2,177,423 1,962,704 4,353,709 3,972,241
Occupancy expense 278,795 275,613 567,119 556,067
Equipment expense 228,285 220,313 450,158 438,063
Data processing expense 311,410 314,340 654,546 607,409
Amortization of intangible assets 3,906 3,906 7,813 7,812
Other operating expenses 680,303 716,658 1,375,034 1,398,864
Total noninterest expenses 3,680,122 3,493,534 7,408,379 6,980,456
Income before income taxes 1,270,047 1,081,046 2,632,034 2,089,784
Provision for income taxes 258,473 216,457 572,815 416,468
Net income $ 1,011,574 $ 864,589 $ 2,059,219 $ 1,673,316
Earnings per share of common stock:        
Net income, basic $ 0.40 $ 0.34 $ 0.81 $ 0.66
Net income, diluted 0.40 0.34 0.81 0.66
Dividends paid per share $ 0.10 $ 0.10 $ 0.20 $ 0.20
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