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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest Income        
Loans $ 5,988,875 $ 5,576,155 $ 11,893,441 $ 11,443,713
Investment securities 351,481 415,318 704,531 872,884
Other 46,154 46,110 76,175 81,050
6,386,510 6,037,583 12,674,147 12,397,647
Interest Expense        
Deposits 625,261 562,700 1,220,190 1,169,493
Federal Home Loan Bank and Federal Reserve Bank advances 297,379 298,636 596,185 594,327
Subordinated debentures 133,997 133,035 266,858 266,198
Other 55,739 65,975 120,833 131,225
1,112,376 1,060,346 2,204,066 2,161,243
Net Interest Income 5,274,134 4,977,237 10,470,081 10,236,404
Provision for Loan Losses   325,000 150,000 525,000
Net Interest Income After Provision for Loan Losses 5,274,134 4,652,237 10,320,081 9,711,404
Noninterest Income        
Service charges 315,275 318,434 596,634 631,419
Gain on sale of investment securities 148,516 7,603 155,313 10,691
Gain on sale of mortgage loans held for sale 364,709 250,667 743,775 436,245
Gain on sale of Small Business Administration loans 344,439   344,439  
Net loss on foreclosed assets (6,663) (61,182) (17,762) (76,965)
Other income 345,477 346,973 691,063 678,798
1,511,753 862,495 2,513,462 1,680,188
Noninterest Expense        
Salaries and employee benefits 2,488,220 2,231,963 4,941,312 4,536,731
Occupancy 463,360 419,614 936,587 846,675
FDIC deposit insurance premiums 113,578 120,029 220,338 256,963
Prepayment penalty on securities sold under agreements to repurchase 463,992   463,992  
Data processing 201,342 165,486 393,823 326,272
Advertising 131,250 106,251 262,500 212,502
Other expense 690,038 618,270 1,462,903 1,605,704
4,551,780 3,661,613 8,681,455 7,784,847
Income Before Income Taxes 2,234,107 1,853,119 4,152,088 3,606,745
Provision for Income Taxes 696,158 514,436 1,284,595 966,636
Net Income 1,537,949 1,338,683 2,867,493 2,640,109
Preferred Stock Dividends and Discount Accretion   111,000   357,210
Net Income Available to Common Shareholders $ 1,537,949 $ 1,227,683 $ 2,867,493 $ 2,282,899
Basic Income Per Common Share (in Dollars per share) $ 0.35 $ 0.29 $ 0.66 $ 0.61
Diluted Income Per Common Share (in Dollars per share) $ 0.35 $ 0.28 $ 0.65 $ 0.60