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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Interest Income    
Loans $ 5,701,892 $ 5,904,566
Investment securities 457,851 353,050
Other 45,302 30,021
6,205,045 6,287,637
Interest Expense    
Deposits 584,817 594,929
FHLB and Federal Reserve advances 301,164 298,806
Subordinated debentures 139,430 132,861
Other   65,094
1,025,411 1,091,690
Net Interest Income 5,179,634 5,195,947
Provision for Loan Losses 375,000 150,000
Net Interest Income After    
Provision for Loan Losses 4,804,634 5,045,947
Noninterest Income    
Service charges 265,969 281,359
Gain on sale of investment securities 51,030 6,797
Gain on sale of loans 419,426 328,113
Net loss on foreclosed assets (10,708) (11,099)
Other income 383,105 345,586
1,108,822 950,756
Noninterest Expense    
Salaries and employee benefits 2,550,932 2,453,092
Occupancy 444,701 473,227
FDIC deposit insurance premiums 116,850 106,760
Data processing 215,130 192,481
Advertising 131,250 131,250
Other expense 650,613 721,912
4,109,476 4,078,722
Income Before Income Taxes 1,803,980 1,917,981
Provision for Income Taxes 527,375 588,437
Net Income Available to Common Shareholders $ 1,276,605 $ 1,329,544
Basic Income Per Common Share (in Dollars per share) $ 0.29 $ 0.31
Diluted Income Per Common Share (in Dollars per share) $ 0.29 $ 0.30