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Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Interest Income      
Loans, Including Fees $ 39,716,269 $ 39,735,615 $ 41,350,195
Federal Funds Sold 14,561 32,100 39,199
Deposits with Other Banks 79,735 41,639 26,704
Investment Securities      
U.S. Government Agencies 4,235,207 4,737,878 3,516,978
State, County and Municipal 107,638 99,736 123,972
Corporate Obligations     47,275
Dividends on Other Investments 122,070 115,134 81,398
44,275,480 44,762,102 45,185,721
Interest Expense      
Deposits 4,856,673 5,113,024 5,821,366
Federal Funds Purchased 26 19 116
Borrowed Money 1,712,548 1,685,744 1,675,164
6,569,247 6,798,787 7,496,646
Net Interest Income 37,706,233 37,963,315 37,689,075
Provision for Loan Losses 865,500 1,308,000 4,485,000
Net Interest Income After Provision for Loan Losses 36,840,733 36,655,315 33,204,075
Noninterest Income      
Service Charges on Deposits 4,268,438 4,649,008 4,690,599
Other Service Charges, Commissions and Fees 2,627,157 2,387,589 1,725,271
Mortgage Fee Income 527,187 419,963 484,396
Securities Gains (Losses) (11,466) 23,735 (363,804)
Gain on Sale of SBA Loans     635,190
Other 1,633,205 1,644,294 1,205,631
9,044,521 9,124,589 8,377,283
Noninterest Expenses      
Salaries and Employee Benefits 17,589,631 17,507,926 16,691,972
Occupancy and Equipment 3,989,347 4,062,844 3,794,524
Directors’ Fees 358,291 392,132 416,972
Legal and Professional Fees 737,731 785,683 721,322
Foreclosed Property 1,682,783 2,701,436 3,918,128
FDIC Assessment 899,302 965,898 1,321,981
Advertising 624,844 652,374 508,292
Software 992,593 925,489 852,475
Telephone 710,038 735,735 778,151
ATM/Card Processing 1,061,262 905,732 685,497
Other 5,078,932 5,344,743 4,928,135
33,724,754 34,979,992 34,617,449
Income Before Income Taxes 12,160,500 10,799,912 6,963,909
Income Taxes 3,787,803 3,268,287 2,334,864
Net Income 8,372,697 7,531,625 4,629,045
Preferred Stock Dividends 2,375,010 2,688,604 1,508,761
Net Income Available to Common Stockholders $ 5,997,687 $ 4,843,021 $ 3,120,284
Net Income Per Share of Common Stock (in Dollars per share) $ 0.71 $ 0.57 $ 0.37
Basic (in Dollars per share) 0.71 0.57 0.37
Diluted (in Dollars per share) 0.71 0.57 0.37
Cash Dividends Declared Per Share of Common Stock (in Dollars per share) $ 0.00 $ 0.00 $ 0.00
Weighted Average Shares Outstanding, Basic (in Shares) 8,439,258 8,439,258 8,439,258
Weighted Average Shares Outstanding, Diluted (in Shares) 8,458,461 8,439,258 8,439,258