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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
INTEREST INCOME    
Loans, including fees $ 24,974,939 $ 18,227,880
Securities and interest-bearing deposits at other financial institutions 1,787,632 1,049,356
Federal funds sold and other earning assets 179,964 100,818
Total interest income 26,942,535 19,378,054
INTEREST EXPENSE    
Deposits 5,250,501 2,401,462
Securities sold under agreements to repurchase 7,788 12,496
Subordinated debt 583,621 0
Federal Home Loan Bank advances and other borrowings 103,385 152,775
Total interest expense 5,945,295 2,566,733
Net interest income before provision for loan losses 20,997,240 16,811,321
Provision for loan losses 797,129 688,796
Net interest income after provision for loan losses 20,200,111 16,122,525
NONINTEREST INCOME    
Customer service fees 654,000 578,003
Gain on sale of loans and other assets 281,903 325,345
Interchange and debit card transaction fees 174,912 145,536
Other noninterest income 587,355 406,308
Total noninterest income 1,698,170 1,455,192
NONINTEREST EXPENSES    
Salaries and employee benefits 8,398,191 7,176,344
Net occupancy and equipment expense 1,640,126 1,533,413
FDIC insurance 178,832 101,804
Foreclosed assets 61,918 189,427
Advertising 295,237 184,476
Data processing 614,858 526,308
Professional services 796,856 898,360
Amortization of intangible assets 343,531 187,757
Software as service contracts 567,296 478,607
Merger expenses 923,141 497,740
Other operating expenses 1,759,512 1,448,255
Total noninterest expenses 15,579,498 13,222,491
Income before income tax expense 6,318,783 4,355,226
Income tax expense 1,587,534 940,455
Net income available to common shareholders $ 4,731,249 $ 3,414,771
EARNINGS PER COMMON SHARE    
Basic (in dollars per share) $ 0.34 $ 0.30
Diluted (in dollars per share) $ 0.34 $ 0.30
Weighted average common shares outstanding    
Basic (in shares) 13,942,016 11,210,836
Diluted (in shares) 14,018,163 11,319,694