Note 26 - Unaudited Quarterly Operating Results

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Quarterly Financial Information [Text Block]

NOTE 26:         UNAUDITED QUARTERLY OPERATING RESULTS

	Year Ended December 31, 2020, Quarter ended
	Mar-20		Jun-20		Sep-20		Dec-20
Interest income	$	10,798,857	$	10,159,058	$	9,968,256	$	9,943,705
Interest expense		3,086,525		2,136,409		2,236,743		2,151,524
Net interest income		7,712,332		8,022,649		7,731,513		7,792,181
Provision for loan losses		500,000		750,000		950,000		1,400,000
Gain on loans and investment securities		571,310		1,018,516		1,992,185		1,199,622
Other noninterest income, net		1,527,822		1,294,202		1,278,146		1,191,641
Noninterest expense		6,798,629		7,253,331		7,735,249		7,877,518
Income before income taxes		2,512,835		2,332,036		2,316,595		905,926
Provision for income taxes		407,990		448,653		418,819		(40,284	)
Net income available to common shareholders	$	2,104,845	$	1,883,383	$	1,897,776	$	946,210
Basic income per common share	$	0.49	$	0.43	$	0.44	$	0.22
Diluted income per common share	$	0.49	$	0.43	$	0.43	$	0.22

	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