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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Interest Income:    
Loans $ 6,003,502 $ 5,389,487
Mortgage-Backed Securities 1,549,122 1,315,420
Investment Securities 1,413,993 1,060,666
Other 64,205 8,248
Total Interest Income 9,030,822 7,773,821
Interest Expense:    
NOW and Money Market Accounts 485,473 187,205
Savings Accounts 16,326 11,553
Certificate Accounts 912,660 537,561
FHLB Advances and Other Borrowed Money 157,110 191,022
Interest Expense, Other 23,777 76,671
Senior Convertible Debentures 120,880 121,280
Junior Subordinated Debentures 57,410 43,685
Total Interest Expense 1,773,636 1,168,977
Net Interest Income 7,257,186 6,604,844
Provision For Loan Losses 100,000 0
Net Interest Income After Provision For Loan Losses 7,157,186 6,604,844
Non-Interest Income:    
Gain on Sale of Investment Securities 290,768 436,304
Gain on Sale of Loans 174,283 286,003
Service Fees on Deposit Accounts 252,017 257,179
Commissions From Insurance Agency 151,300 179,225
Trust Income 258,600 232,500
BOLI Income 135,000 135,000
Grant Revenue 259,615 0
Check card revenue 342,334 307,046
Other 331,915 210,763
Total Non-Interest Income 2,195,832 2,044,020
Non-Interest Expense:    
Compensation and Employee Benefits 4,179,034 3,809,124
Occupancy 552,233 551,268
Advertising 172,684 188,672
Depreciation and Maintenance of Equipment 610,357 540,297
Federal Deposit Insurance Corporation (FDIC) Insurance Premiums 73,176 66,786
Net (Recovery) Cost of Operation of OREO (92,114) 38,733
Other 1,249,145 1,324,066
Total Non-Interest Expense 6,744,515 6,518,946
Income Before Income Taxes 2,608,503 2,129,918
Provision For Income Taxes 519,630 399,801
Net Income 2,088,873 1,730,117
Net Income $ 2,088,873 $ 1,730,117
Net Income Per Common Share (Basic) $ 0.71 $ 0.59
Net Income Per Common Share (Diluted) 0.67 0.56
Cash Dividend Per Share on Common Stock $ 0.09 $ 0.09
Weighted Average Shares Outstanding (Basic) 2,954,515 2,953,180
Weighted Average Shares Outstanding (Diluted) 3,256,715 3,257,532