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Consolidated Statements of Income (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Interest Income:    
Loans $ 7,410,163 $ 6,096,686
Investment Securities 6,773,482 2,600,958
Other 34,432 2,216
Total Interest Income 14,218,077 8,699,860
Interest Expense:    
Deposits 2,915,268 345,067
FHLB Advances and Other Borrowings 627,782 29,783
Subordinated Debentures 347,813 393,750
Junior Subordinated Debentures 83,606 26,039
Total Interest Expense 3,974,469 794,639
Net Interest Income 10,243,608 7,905,221
(Reversal of) Provision for Loan Losses 0 0
Net Interest Income after Provision for Loan Losses 10,243,608 7,905,221
Non-Interest Income:    
Gain on Sale of Loans 193,881 713,893
Service Fees on Deposit Accounts 269,613 257,491
Commissions From Insurance Agency 162,799 139,504
Trust Income 382,208 364,746
BOLI Income 150,204 157,241
ATM and Check Card Fee Income 802,022 717,267
Other 239,650 253,182
Total Non-Interest Income 2,200,377 2,603,324
Non-Interest Expense:    
Compensation and Employee Benefits 5,240,796 5,056,620
Occupancy 806,434 712,786
Advertising 244,595 260,333
Depreciation and Maintenance of Equipment 620,156 720,661
FDIC Insurance Premiums 90,306 112,042
Write Down of Land Held for Sale 0 339,344
Consulting 213,335 164,750
Debit Card Expenses 336,646 283,789
Information Technology and Data Processing 280,036 67,052
Other 1,198,284 877,467
Total Non-Interest Expense 9,030,588 8,594,844
Income Before Income Taxes 3,413,397 1,913,701
Provision For Income Taxes 739,297 364,670
Net Income $ 2,674,100 $ 1,549,031
Earnings Per Share, Basic $ 0.82 $ 0.48
Cash Dividend Per Share On Common Stock $ 0.13 $ 0.12
Weighted Average Number of Shares Outstanding, Basic 3,253,112 3,252,884