Note 26 - Unaudited Quarterly Operating Results

12 Months Ended

Dec. 31, 2019

Notes to Financial Statements

Quarterly Financial Information [Text Block]

NOTE

2

6

:     

UNAUDITED

QUARTERLY

OPERATING RESULTS

	Year Ended December 31, 2019, Quarter ended
	Mar-19		Jun-19		Sep-19		Dec-19
Interest income	$	11,096,436	$	11,299,507	$	11,581,621	$	11,248,939
Interest expense		3,321,718		3,449,152		3,459,478		3,304,666
Net interest income		7,774,718		7,850,355		8,122,143		7,944,273
Provision for loan losses		-		100,000		100,000		-
Gain on loans and investment securities		645,469		888,300		1,055,589		752,688
Other noninterest income, net		918,866		1,045,038		881,541		917,402
Noninterest expense		6,843,559		6,826,483		6,953,456		6,874,636
Income before income taxes		2,495,494		2,857,210		3,005,817		2,739,727
Provision for income taxes		375,130		428,711		455,275		424,042
Net income available to common shareholders	$	2,120,364	$	2,428,499	$	2,550,542	$	2,315,685
Basic income per common share	$	0.48	$	0.55	$	0.58	$	0.54
Diluted income per common share	$	0.47	$	0.54	$	0.57	$	0.53

	Year Ended December 31, 2018, Quarter ended
	Mar-18		Jun-18			Sep-18		Dec-18
Interest income	$	7,956,316	$	10,379,125		$	13,377,875	$	11,532,388
Interest expense		1,925,064		2,406,858			2,648,869		2,946,828
Net interest income		6,031,252		7,972,267			10,729,006		8,585,560
Provision for loan losses		225,000		500,000			200,000		300,000
Gain on loans and investment securities		553,602		831,919			858,254		609,521
Other noninterest income, net		765,437		1,121,893			603,504		1,207,810
Noninterest expense		5,475,855		10,222,637			6,665,849		7,093,992
Income before income taxes		1,649,436		(796,558	)		5,324,915		3,008,899
Provision for income taxes		293,691		(453,574	)		1,390,673		624,023
Net income available to common shareholders	$	1,355,745	$	(342,984	)	$	3,934,242	$	2,384,876
Basic income per common share	$	0.31	$	(0.08	)	$	0.89	$	0.54
Diluted income per common share	$	0.30	$	(0.08	)	$	0.88	$	0.53