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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
INTEREST INCOME    
Loans, including fees $ 18,227,880 $ 10,215,607
Interest and Dividend Income, Securities, Operating, Other 1,049,356 660,819
Federal funds sold and other earning assets 100,818 72,897
Total interest income 19,378,054 10,949,323
INTEREST EXPENSE    
Deposits 2,401,462 1,097,538
Securities sold under agreements to repurchase 12,496 15,951
Federal Home Loan Bank advances and other borrowings 152,775 15,475
Total interest expense 2,566,733 1,128,964
Net interest income before provision for loan losses 16,811,321 9,820,359
Provision for loan losses 688,796 12,450
Net interest income after provision for loan losses 16,122,525 9,807,909
NONINTEREST INCOME    
Customer service fees 578,003 264,673
Gain on sale of loans and other assets 325,345 275,165
Interchange and debit card transaction fees 145,536 192,394
Other noninterest income 406,308 210,040
Total noninterest income 1,455,192 942,272
NONINTEREST EXPENSES    
Salaries and employee benefits 7,176,344 4,678,540
Net occupancy and equipment expense 1,533,413 978,459
Depository insurance 101,804 153,299
Foreclosed assets 189,427 14,078
Advertising 184,476 164,262
Data processing 526,308 246,445
Professional services 898,360 538,050
Amortization of intangible assets 187,757 52,578
Service contracts 478,607 295,629
Merger expenses 497,740 0
Other operating expenses 1,448,255 1,039,136
Total noninterest expenses 13,222,491 8,160,476
Income before income tax expense 4,355,226 2,589,705
Income tax expense 940,455 945,854
Net income 3,414,771 1,643,851
Preferred stock dividends 0 195,000
Net income available to common stockholders $ 3,414,771 $ 1,448,851
EARNINGS PER COMMON SHARE    
Basic (in dollars per share) $ 0.30 $ 0.19
Diluted (in dollars per share) $ 0.30 $ 0.19
Weighted average common shares outstanding    
Basic (in shares) 11,210,836 7,524,830
Diluted (in shares) 11,324,052 7,631,219
Dividends per common share (in dollars per share) $ 0 $ 0