XML 13 R4.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Statements Of Income (unaudited) - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest income    
Loans, including fees $ 7,699,438 $ 5,537,080
Securities    
Taxable 1,051,260 637,121
Tax-exempt 44,902 20,996
Other interest-earning assets 221,589 83,813
Total interest income 9,017,189 6,279,010
Interest expense    
Deposits 3,714,997 826,184
FHLB advances 777,354 329,833
Total interest expense 4,492,351 1,156,017
Net interest income 4,524,838 5,122,993
Net interest income after provision for credit losses 4,524,838 5,122,993
Non-interest income    
Fees and service charges 52,152 39,318
Gain on sale of loans 13,225 87,130
Bank-owned life insurance 186,053 155,993
Other 31,849 61,982
Total non-interest income 283,279 344,423
Non-interest expense    
Salaries and employee benefits 2,162,369 2,063,347
Occupancy and equipment 382,787 344,429
FDIC insurance assessment 60,000 54,000
Data processing 277,097 278,347
Advertising 147,300 121,145
Director fees 159,337 214,791
Professional fees 149,250 144,263
Other 179,208 320,953
Total non-interest expense 3,517,348 3,541,275
Income before income taxes 1,290,769 1,926,141
Income tax expense 298,062 525,244
Net income $ 992,707 $ 1,400,897
Earnings per Share - basic $ 0.08 $ 0.10
Earnings per Share - diluted $ 0.08 $ 0.10
Weighted average shares outstanding- basic 13,013,492 13,858,884
Weighted average shares outstanding - diluted 13,055,533 13,878,304