XML 21 R4.htm IDEA: XBRL DOCUMENT v3.22.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
INTEREST INCOME    
Interest and fees on loans $ 10,738,000 $ 11,973,000
Interest and dividends on securities 2,657,000 1,579,000
Interest on deposits with banks and federal funds sold 122,000 117,000
Total Interest Income 13,517,000 13,669,000
INTEREST EXPENSE    
Interest on deposits 609,000 1,043,000
Interest on short-term borrowings 465,000 464,000
Interest on long-term borrowings   8,000
Total Interest Expense 1,074,000 1,515,000
Net Interest Income 12,443,000 12,154,000
Release of credit loss provision (975,000) (689,000)
Net interest income after provision for credit losses 13,418,000 12,843,000
NONINTEREST INCOME    
Gain on securities called or sold (588,000) 6,000
Income on life insurance 157,000 158,000
Gain on sale of OREO 14,000  
Total Noninterest Income 627,000 1,012,000
NONINTEREST EXPENSE    
Salary and employee benefits 6,504,000 6,743,000
Occupancy and equipment expenses 1,227,000 1,247,000
Legal, accounting and other professional fees 701,000 941,000
Data processing and item processing services 933,000 944,000
FDIC insurance costs 169,000 186,000
Advertising and marketing related expenses 88,000 88,000
Loan collection costs 12,000 126,000
Telephone costs 209,000 199,000
Other expenses 1,109,000 1,222,000
Total Noninterest Expenses 10,952,000 11,696,000
Income before income taxes 3,093,000 2,159,000
Income tax expense 577,000 491,000
NET INCOME $ 2,516,387 $ 1,667,741
Basic net income per share (in dollars per share) $ 0.88 $ 0.59
Diluted net income per share (in dollars per share) $ 0.88 $ 0.59
Service charges on deposit accounts    
NONINTEREST INCOME    
Noninterest Income $ 160,000 $ 176,000
Other fees and commissions    
NONINTEREST INCOME    
Noninterest Income $ 884,000 $ 672,000