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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Interest Income:        
Loans $ 5,685,638 $ 4,954,962 $ 11,075,125 $ 9,702,440
Mortgage-Backed Securities 1,276,967 1,156,067 2,592,387 2,278,134
Investment Securities 1,057,234 1,292,306 2,117,900 2,405,888
Other 8,908 8,311 17,156 28,509
Total Interest Income 8,028,747 7,411,646 15,802,568 14,414,971
Interest Expense:        
NOW and Money Market Accounts 262,005 140,974 449,210 274,206
Statement Savings Accounts 12,747 10,002 24,300 19,274
Certificate Accounts 612,197 472,618 1,149,758 898,405
FHLB Advances and Other Borrowed Money 164,848 123,827 355,870 245,111
Interest Expense, Other 62,263 110,904 138,934 222,851
Senior Convertible Debentures 121,280 121,680 242,560 243,360
Junior Subordinated Debentures 50,331 37,154 94,016 71,888
Total Interest Expense 1,285,671 1,017,159 2,454,648 1,975,095
Net Interest Income 6,743,076 6,394,487 13,347,920 12,439,876
Provision For Loan Losses 0 0 0 0
Net Interest Income After Provision For Loan Losses 6,743,076 6,394,487 13,347,920 12,439,876
Non-Interest Income:        
Gain on Sale of Investment Securities 0 45,148 436,304 628,539
Gain on Sale of Loans 367,646 240,049 653,649 520,417
Service Fees on Deposit Accounts 250,493 260,867 507,672 501,752
Commissions From Insurance Agency 149,111 125,245 328,336 279,237
Trust Income 243,500 186,000 476,000 368,000
BOLI Income 135,000 120,000 270,000 240,000
Check card revenue 338,611 284,624 645,657 555,616
Other 260,185 171,005 470,948 336,726
Total Non-Interest Income 1,744,546 1,432,938 3,788,566 3,430,287
Non-Interest Expense:        
Compensation and Employee Benefits 3,842,295 3,532,797 7,651,419 7,044,284
Occupancy 540,175 574,585 1,091,443 1,092,637
Advertising 85,418 136,174 274,090 271,709
Depreciation and Maintenance of Equipment 557,423 506,057 1,097,720 971,621
Federal Deposit Insurance Corporation (FDIC) Insurance Premiums 66,595 39,515 133,381 104,189
Net Cost (Benefit) of Operation of OREO (198,493) (82,798) (159,760) (201,902)
Other 1,346,846 1,160,373 2,670,912 2,413,103
Total Non-Interest Expense 6,240,259 5,866,703 12,759,205 11,695,641
Income Before Income Taxes 2,247,363 1,960,722 4,377,281 4,174,522
Provision For Income Taxes 427,409 482,775 827,210 1,067,957
Net Income 1,819,954 1,477,947 3,550,071 3,106,565
Net Income $ 1,819,954 $ 1,477,947 $ 3,550,071 $ 3,106,565
Net Income Per Common Share (Basic) $ 0.62 $ 0.50 $ 1.20 $ 1.05
Net Income Per Common Share (Diluted) 0.59 0.48 1.15 1.00
Cash Dividend Per Share on Common Stock $ 0.09 $ 0.09 $ 0.09 $ 0.09
Weighted Average Shares Outstanding (Basic) 2,953,412 2,945,474 2,953,297 2,945,083
Weighted Average Shares Outstanding (Diluted) 3,257,017 3,253,559 3,256,929 3,252,332