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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Interest income:    
Loans, including fees $ 6,881,911 $ 6,045,548
Investment securities - taxable 1,579,066 805,707
Investment securities - tax exempt 136,778 139,844
Federal funds sold and other interest earning assets 468,307 61,430
Total interest income 9,066,062 7,052,529
Interest expense:    
Deposits 3,100,926 1,034,851
Securities sold under repurchase agreements 23,009 4,338
Federal Home Loan Bank advances 12,588 204,447
Federal Reserve Bank advances 621,683 263
Long-term debt 133,600 151,562
Total interest expense 3,891,806 1,395,461
Net interest income 5,174,256 5,657,068
Recovery of credit losses 0 (270,000)
Net interest income after recovery of credit losses 5,174,256 5,927,068
Noninterest income:    
Mortgage banking income 4,951 25,293
Bank owned life insurance income 90,321 83,105
Fair value adjustment on equity security (3,541) 5,767
Gain on insurance proceeds 142,794 0
Total noninterest income 504,415 382,414
Noninterest expense:    
Salaries 1,976,187 1,876,444
Employee benefits 606,313 594,057
Occupancy 246,327 214,116
Furniture and equipment 242,421 239,727
Other 1,041,219 833,091
Total noninterest expense 4,112,467 3,757,435
Income before income taxes 1,566,204 2,552,047
Income taxes 346,217 651,196
Net income $ 1,219,987 $ 1,900,851
Earnings per share - basic (in dollars per share) $ 0.39 $ 0.62
Earnings per share - diluted (in dollars per share) $ 0.39 $ 0.62
Deposit Account [Member]    
Noninterest income:    
Noninterest revenue $ 194,674 $ 186,707
Financial Service, Other [Member]    
Noninterest income:    
Noninterest revenue $ 75,216 $ 81,542