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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Net Income $ 2,016,331 $ 1,884,031
Interest Income:    
Loans 6,437,349 6,046,834
Mortgage-Backed Securities 1,602,695 1,621,616
Investment Securities 1,052,300 1,434,119
Other 6,303 25,832
Total Interest Income 9,098,647 9,128,401
Interest Expense:    
NOW and Money Market Accounts 277,774 570,965
Savings Accounts 22,372 18,868
Certificate Accounts 810,857 1,064,133
FHLB Advances and Other Borrowed Money 220,665 167,050
Interest Expense, Other 0 11,738
Senior Convertible Debentures 0 120,880
Interest Expense, Medium-term Notes 393,750  
Junior Subordinated Debentures 30,822 55,771
Total Interest Expense 1,756,240 2,009,405
Net Interest Income 7,342,407 7,118,996
Provision For Loan Losses 700,000 0
Net Interest Income After Provision For Loan Losses 6,642,407 7,118,996
Non-Interest Income:    
Gain on Sale of Investments 486,577 670,134
Gain on Sale of Loans 806,415 372,048
Service Fees on Deposit Accounts 188,401 254,610
Commissions From Insurance Agency 163,745 175,693
Trust Income 238,895 258,600
BOLI Income 135,000 135,000
Grant Revenue 87,164 17,414
Check card revenue 446,931 355,321
Other 252,859 253,741
Total Non-Interest Income 2,805,987 2,492,561
Non-Interest Expense:    
Compensation and Employee Benefits 4,236,956 4,137,872
Occupancy 603,335 576,987
Advertising 188,018 176,480
Depreciation and Maintenance of Equipment 746,635 639,840
Federal Deposit Insurance Corporation ("FDIC") Insurance Premiums 0 69,306
Net Recovery from Operation of OREO (18,020) (160,033)
Other 1,234,007 1,800,656
Total Non-Interest Expense 6,990,931 7,241,108
Income Before Income Taxes 2,457,463 2,370,449
Provision For Income Taxes 441,132 486,418
Net Income 2,016,331 1,884,031
Net Income $ 2,016,331 $ 1,884,031
Net Income Per Common Share (Basic) $ 0.62 $ 0.64
Net Income Per Common Share (Diluted) 0.62 0.61
Cash Dividend Per Share on Common Stock $ 0.10 $ 0.09
Weighted Average Shares Outstanding (Basic) 3,252,884 2,995,650
Weighted Average Shares Outstanding (Diluted) 3,252,884 3,257,850