XML 13 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Net Income $ 3,225,803 $ 4,642,470 $ 6,938,637 $ 10,745,404
Interest and Fee Income, Loans and Leases 6,306,312 7,261,810    
Investment Income, Interest and Dividend 4,892,385 2,403,203    
Other Interest and Dividend Income 94,436     3,401
Total Interest Income 11,293,133 9,668,414    
Interest Expense, Customer Deposits 675,765 376,136    
Interest Expense, Subordinated Notes and Debentures 389,375 393,750    
Interest Expense, Junior Subordinated Debentures 49,842     23,955
Interest Expense 1,159,368 844,597    
Interest Income (Expense), Net 10,133,765 8,823,817    
Provision for Loan and Lease Losses 0     (665,000)
Interest Income (Expense), after Provision for Loan Loss 10,133,765     9,488,817
Gain (Loss) on Sales of Loans, Net 287,081 932,340    
Service Fees on Deposit Accounts 279,909 251,440    
Insurance Commissions and Fees 235,506 187,657    
Trust Income 363,830 359,035    
BOLI Income 150,999 155,000    
Check card revenue 687,773 615,568    
Grant Revenue 0 1,826,265    
Noninterest Income, Other Operating Income 219,289 202,314    
Noninterest Income 2,224,387     $ 4,529,619
Professional Fees 179,318 182,684    
Other General and Administrative Expense 831,564 801,964    
Communication 97,204      
Compensation and Employee Benefits 5,019,920 4,757,937    
Occupancy 703,310 641,555    
Advertising Expense 153,460 275,947    
Depreciation 751,739 781,217    
Federal Deposit Insurance Corporation Premium Expense 87,858 73,845    
Other Revenue (Expense) from Real Estate Operations 10,000 $ 55,000    
Total Non-Interest Expense $ 8,277,685      
Weighted Average Number of Shares Outstanding, Basic 3,252,884 3,252,884 3,252,884 3,252,884
Income (Loss) from Continuing Operations before Income Taxes, Domestic $ 4,080,467 $ 5,969,540    
Income Tax Expense (Benefit) $ 854,664 $ 1,327,070    
Earnings Per Share, Basic $ 0.99 $ 1.43 $ 2.13 $ 3.30
Common Stock, Dividends, Per Share, Cash Paid $ 0.12 $ 0.11 $ 0.64 $ 0.33
Interest Income:        
Interest and Fee Income, Loans and Leases $ 6,306,312 $ 7,261,810    
Investment Income, Interest and Dividend 4,892,385 2,403,203    
Other Interest and Dividend Income 94,436     $ 3,401
Interest and Dividend Income, Operating, Total 11,293,133 9,668,414    
Interest Expense [Abstract]        
Interest Expense, Other 44,386 50,756    
Interest Expense, Subordinated Notes and Debentures 389,375 393,750    
Interest Expense, Junior Subordinated Debentures 49,842     23,955
Interest Expense, Total 1,159,368 844,597    
Interest Income (Expense), Net, Total 10,133,765 8,823,817    
Provision for Loan and Lease Losses 0     (665,000)
Interest Income (Expense), after Provision for Loan Loss, Total 10,133,765     9,488,817
Noninterest Income [Abstract]        
Gain (Loss) on Sales of Loans, Net 287,081 932,340    
Service Fees on Deposit Accounts 279,909 251,440    
Insurance Commissions and Fees 235,506 187,657    
Trust Income 363,830 359,035    
BOLI Income 150,999 155,000    
Grant Revenue 0 1,826,265    
Check card revenue 687,773 615,568    
Noninterest Income, Other Operating Income 219,289 202,314    
Noninterest Income, Total 2,224,387     4,529,619
General and Administrative Expense [Abstract]        
Compensation and Employee Benefits 5,019,920 4,757,937    
Occupancy 703,310 641,555    
Advertising Expense 153,460 275,947    
Federal Deposit Insurance Corporation Premium Expense 87,858 73,845    
Net Cost (Recovery) from Operation of OREO (10,000) (55,000)    
Other General and Administrative Expense 831,564 801,964    
General and Administrative Expense, Total 8,277,685      
Income (Loss) from Continuing Operations before Income Taxes, Domestic 4,080,467 5,969,540    
Income Tax Expense (Benefit) 854,664 1,327,070    
Net Income 3,225,803 4,642,470 $ 6,938,637 10,745,404
Net Income $ 3,225,803 $ 4,642,470   $ 10,745,404
Earnings Per Share, Basic $ 0.99 $ 1.43 $ 2.13 $ 3.30
Common Stock, Dividends, Per Share, Cash Paid $ 0.12 $ 0.11 $ 0.64 $ 0.33
Weighted Average Number of Shares Outstanding, Basic 3,252,884 3,252,884 3,252,884 3,252,884