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Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 30, 2018
Dec. 31, 2017
ASSETS    
Cash and due from banks $ 5,275,544 $ 4,094,694
Interest-bearing deposits in other financial institutions 25,081,703 33,312,236
Cash and cash equivalents 30,357,247 37,406,930
Available-for-sale securities 89,316,993 81,478,673
Held-to-maturity securities 14,111 16,457
Stock in Federal Home Loan Bank, at cost 4,791,200 4,597,500
Mortgage loans held for sale 1,771,560 1,921,819
Loans receivable, net of allowance for loan losses of June 30, 2018 - $7,572,510 - December 31, 2017 - $7,107,418 772,517,090 629,605,009
Accrued interest receivable 2,996,175 2,449,847
Prepaid expenses and other assets 4,825,645 3,846,686
Goodwill 2,615,352
Core deposit intangible 3,300,000
Foreclosed assets held for sale 1,546,951 282,785
Premises and equipment, net 22,306,826 10,607,094
Bank owned life insurance 19,966,634 19,740,623
Deferred and income taxes receivable 4,193,271 2,506,097
960,519,055 794,459,520
LIABILITIES    
Deposits 764,771,510 607,364,350
Federal Home Loan Bank advances 90,400,000 94,300,000
Note payable to bank 5,000,000
Subordinated debentures 21,804,760 15,465,000
Advances from borrowers for taxes and insurance 560,802 180,269
Accrued expenses and other liabilities 2,021,887 1,962,865
Accrued interest payable 711,911 295,543
885,270,870 719,568,027
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY    
Common stock, $0.10 par value; authorized 10,000,000 shares; issued June 30, 2018 and December 31, 2017 - 6,890,503 and 6,878,503 shares; respectively 689,050 687,850
Additional paid-in capital 51,043,177 50,856,069
Retained earnings, substantially restricted 60,625,026 60,679,308
Accumulated other comprehensive loss (142,119) (206,193)
112,215,134 112,017,034
Treasury stock, at cost; June 30, 2018 and December 31, 2017 - 2,443,246 and 2,453,728 shares, respectively (36,966,949) (37,125,541)
75,248,185 74,891,493
$ 960,519,055 $ 794,459,520