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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Net Income $ 2,924,142 $ 2,016,331
Interest Income:    
Loans 6,293,533 6,437,349
Mortgage-Backed Securities 1,334,700 1,602,695
Investment Securities 1,087,621 1,052,300
Other 1,547 6,303
Total Interest Income 8,717,401 9,098,647
Interest Expense:    
NOW and Money Market Accounts 163,158 277,774
Savings Accounts 17,774 22,372
Certificate Accounts 230,070 810,857
FHLB Advances and Other Borrowed Money 149,223 220,665
Senior Convertible Debentures 0 0
Interest Expense, Medium-term Notes 393,750  
Junior Subordinated Debentures 24,400 30,822
Total Interest Expense 978,375 1,756,240
Net Interest Income 7,739,026 7,342,407
Provision For Loan Losses (735,000) 700,000
Net Interest Income After Provision For Loan Losses 8,474,026 6,642,407
Non-Interest Income:    
Gain on Sale of Investments 0 486,577
Gain on Sale of Loans 1,018,934 806,415
Service Fees on Deposit Accounts 219,174 188,401
Commissions From Insurance Agency 149,923 163,745
Trust Income 337,343 238,895
BOLI Income 165,000 135,000
Grant Revenue 0 87,164
Check card revenue 610,626 509,514
Other 186,492 190,276
Total Non-Interest Income 2,687,492 2,805,987
Non-Interest Expense:    
Compensation and Employee Benefits 4,518,180 4,236,956
Occupancy 659,532 603,335
Advertising 195,837 188,018
Depreciation and Maintenance of Equipment 770,894 746,635
Federal Deposit Insurance Corporation Premium Expense 72,720 0
Net Recovery from Operation of OREO (67,173) (18,020)
Other 558,866 558,889
Total Non-Interest Expense 7,446,056 6,990,931
Income Before Income Taxes 3,715,462 2,457,463
Provision For Income Taxes 791,320 441,132
Net Income 2,924,142 2,016,331
Net Income $ 2,924,142 $ 2,016,331
Net Income Per Common Share (Basic) $ 0.90 $ 0.62
Cash Dividend Per Share on Common Stock $ 0.11 $ 0.10
Weighted Average Shares Outstanding (Basic) 3,252,884 3,252,884