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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Mar. 31, 2018
Dec. 31, 2017
ASSETS    
Cash and due from banks $ 61,845,988 $ 75,721,663
Federal funds sold 14,505,000 30,197,000
Interest-bearing deposits at financial institutions 45,051,555 55,765,012
Securities held to maturity, at amortized cost 378,584,337 379,474,205
Securities available for sale, at fair value 259,644,940 272,907,907
Total securities 638,229,277 652,382,112
Loans receivable held for sale 279,750 645,001
Loans/leases receivable held for investment 3,054,622,689 2,963,840,399
Gross loans/leases receivable 3,054,902,439 2,964,485,400
Less allowance for estimated losses on loans/leases (36,532,602) (34,355,728)
Net loans/leases receivable [1] 3,018,369,837 2,930,129,672
Bank-owned life insurance 59,477,481 59,059,494
Premises and equipment, net 63,564,277 62,838,255
Restricted investment securities 22,413,075 19,782,525
Other real estate owned, net 12,750,023 13,558,308
Goodwill 28,334,092 28,334,092
Core deposit intangible 8,774,402 9,078,953
Other assets 52,999,407 45,817,687
Total assets 4,026,314,414 3,982,664,773
LIABILITIES    
Noninterest-bearing 784,815,082 789,547,696
Interest-bearing 2,495,186,410 2,477,107,360
Total deposits 3,280,001,492 3,266,655,056
Short-term borrowings 16,859,753 13,993,122
Federal Home Loan Bank advances 216,345,000 192,000,000
Other borrowings 64,062,500 66,000,000
Junior subordinated debentures 37,534,402 37,486,487
Other liabilities 51,083,350 53,242,979
Total liabilities 3,665,886,497 3,629,377,644
STOCKHOLDERS' EQUITY    
Preferred stock, $1 par value; shares authorized 250,000 March 2018 and December 2017 - No shares issued or outstanding
Common stock, $1 par value; shares authorized 20,000,000 March 2018 - 13,936,957 shares issued and outstanding December 2017 - 13,918,168 shares issued and outstanding 13,936,957 13,918,168
Additional paid-in capital 189,684,858 189,077,550
Retained earnings 162,345,792 151,962,661
Accumulated other comprehensive loss:    
Securities available for sale (4,917,148) (866,223)
Interest rate cap derivatives (622,542) (805,027)
Total stockholders' equity 360,427,917 353,287,129
Total liabilities and stockholders' equity $ 4,026,314,414 $ 3,982,664,773
[1] Management performs an evaluation of the estimated unguaranteed residual values of leased assets on an annual basis, at a minimum. The evaluation consists of discussions with reputable and current vendors, which is combined with management's expertise and understanding of the current states of particular industries to determine informal valuations of the equipment. As necessary and where available, management will utilize valuations by independent appraisers. The large majority of leases with residual values contain a lease options rider, which requires the lessee to pay the residual value directly, finance the payment of the residual value, or extend the lease term to pay the residual value. In these cases, the residual value is protected and the risk of loss is minimal. There were no losses related to residual values for the three months ended March 31, 2018 and 2017.