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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest and Dividend Income:    
Interest and fees on loans $ 4,277,837 $ 3,138,193
Interest and dividends on taxable investment securities 327,690 164,122
Interest on deposits with other banks and federal funds sold 306,997 49,322
Total interest and dividend income 4,912,524 3,351,637
Interest Expense    
Interest on deposits 1,154,629 165,142
Interest on borrowings 107,667 0
Total interest expense 1,262,296 165,142
Net interest income 3,650,228 3,186,495
Provision for Credit Losses 18,000 0
Net interest income after provision for credit losses 3,632,228 3,186,495
Other Income:    
Service charges on deposit accounts 128,966 136,896
Gain on sale of mortgage loans 94,826 353,930
Gain on sale of premises and equipment 12,086 0
Bank owned life insurance income 68,728 67,947
Other 16,094 3,320
Total other income 320,700 562,093
Other Expense    
Salaries and employee benefits 2,086,785 1,744,554
Occupancy and equipment 237,652 199,626
Other real estate owned, net of operations, (gain) loss on sales and write-downs (2,767) 10,820
Other 1,178,347 883,567
Total other expense 3,500,017 2,838,567
Income Before Income Taxes 452,911 910,021
Income Tax Expense 120,882 214,128
Net Income $ 332,029 $ 695,893
Earnings per share:    
Basic $ 0.07 $ 0.14
Diluted $ 0.07 $ 0.14
Weighted Average Shares Outstanding:    
Basic 4,974,200 4,898,350
Diluted 4,974,200 4,898,350