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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
INTEREST INCOME    
Loans, including fees $ 9,374,457 $ 4,518,547
Securities and interest bearing deposits at other financial institutions 716,580 417,903
Federal funds sold and other earning assets 63,309 28,161
Total interest income 10,154,346 4,964,611
INTEREST EXPENSE    
Deposits 961,268 502,655
Securities sold under agreements to repurchase 16,460 2,951
Federal Home Loan Bank advances and other borrowings 45,286 694
Total interest expense 1,023,014 506,300
Net interest income before provision for loan losses 9,131,332 4,458,311
Provision for loan losses 137,557 283,942
Net interest income after provision for loan losses 8,993,775 4,174,369
NONINTEREST INCOME    
Customer service fees 295,803 130,402
Gain on sale of securities 83,263 0
Gain on sale of loans and other assets 221,925 64,681
Gain on sale of foreclosed assets 57,977 382,657
Other noninterest income 411,864 230,123
Total noninterest income 1,070,832 807,863
NONINTEREST EXPENSES    
Salaries and employee benefits 4,495,008 2,300,614
Net occupancy and equipment expense 1,018,428 543,901
Depository insurance 135,803 96,636
Foreclosed assets 56,658 41,348
Advertising 173,447 110,663
Data processing 341,380 209,713
Professional services 455,173 352,098
Amortization of intangible assets 93,353 40,775
Service contracts 285,627 159,070
Other operating expenses 897,021 425,704
Total noninterest expenses 7,951,898 4,280,522
Income before income tax expense 2,112,709 701,710
Income tax expense 763,846 363,318
Net income 1,348,863 338,392
Preferred stock dividends 212,000 30,000
Net income available to common stockholders $ 1,136,863 $ 308,392
EARNINGS PER COMMON SHARE    
Basic $ 0.2 $ 0.1
Diluted $ 0.19 $ 0.09
Weighted average common shares outstanding    
Basic 5,807,488 2,965,783
Diluted 6,108,087 3,293,176
Dividends per share $ 0 $ 0