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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
INTEREST INCOME    
Loans, including fees $ 10,215,607 $ 9,374,457
Securities and interest-bearing deposits at other financial institutions 660,819 716,580
Federal funds sold and other earning assets 72,897 63,309
Total interest income 10,949,323 10,154,346
INTEREST EXPENSE    
Deposits 1,097,538 961,268
Securities sold under agreements to repurchase 15,951 16,460
Federal Home Loan Bank advances and other borrowings 15,475 45,286
Total interest expense 1,128,964 1,023,014
Net interest income before provision for loan losses 9,820,359 9,131,332
Provision for loan losses 12,450 137,557
Net interest income after provision for loan losses 9,807,909 8,993,775
NONINTEREST INCOME    
Customer service fees 264,673 295,803
Gain on sale of securities 0 83,263
Gain on sale of loans and other assets 275,165 221,925
(Loss) gain on sale of foreclosed assets (15,564) 57,977
Other noninterest income 402,434 411,864
Total noninterest income 926,708 1,070,832
NONINTEREST EXPENSES    
Salaries and employee benefits 4,646,749 4,495,008
Net occupancy and equipment expense 978,459 1,018,428
Depository insurance 153,299 135,803
Foreclosed assets 0 56,658
Advertising 164,262 173,447
Data processing 339,815 341,380
Professional services 569,841 455,173
Amortization of intangible assets 52,578 93,353
Service contracts 295,629 285,627
Other operating expenses 944,280 897,021
Total noninterest expenses 8,144,912 7,951,898
Income before income tax expense 2,589,705 2,112,709
Income tax expense 945,854 763,846
Net income 1,643,851 1,348,863
Preferred stock dividends 195,000 212,000
Net income available to common stockholders $ 1,448,851 $ 1,136,863
EARNINGS PER COMMON SHARE    
Basic (in dollars per share) $ 0.19 $ 0.20
Diluted (in dollars per share) $ 0.19 $ 0.19
Weighted average common shares outstanding    
Basic (in shares) 7,524,830 5,807,488
Diluted (in shares) 7,631,219 6,108,087
Dividends per share (in dollars per share) $ 0 $ 0