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Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Cash and due from banks $ 32,528,234 $ 34,616,880
Interest-bearing deposits in financial institutions and federal funds sold 145,990,834 108,947,624
Securities available-for-sale 513,615,814 479,843,448
Federal Home Loan Bank (FHLB) and Federal Reserve Bank (FRB) stock, at cost 3,154,800 3,138,900
Loans receivable, net 1,146,046,388 1,048,147,496
Loans held for sale 2,033,360 2,776,785
Bank premises and equipment, net 17,628,860 17,810,605
Accrued income receivable 10,801,448 11,788,409
Other real estate owned 631,647 4,003,684
Bank-owned life insurance 2,878,838 2,842,713
Deferred income taxes, net 0 1,151,016
Intangible assets, net 3,524,814 3,959,260
Goodwill 12,424,434 12,114,559
Other assets 5,712,963 6,041,126
Total assets 1,896,972,434 1,737,182,505
LIABILITIES AND STOCKHOLDERS' EQUITY    
Noninterest-bearing checking 332,285,659 267,441,988
Interest-bearing checking 483,065,694 461,857,728
Savings and money market 553,546,573 481,642,221
Time, $250,000 and over 69,189,546 74,206,421
Other time 205,455,750 208,026,740
Total deposits 1,643,543,222 1,493,175,098
Securities sold under agreements to repurchase 36,892,657 42,033,570
FHLB advances 3,000,000 5,000,000
Dividends payable 0 2,213,459
Deferred income taxes, net 1,194,894 0
Accrued expenses and other liabilities 11,191,759 7,180,906
Total liabilities 1,695,822,532 1,549,603,033
STOCKHOLDERS' EQUITY    
Common stock, $2 par value, authorized 18,000,000 shares; issued and outstanding 9,122,747 and 9,222,747 as of June 30, 2020 and December 31, 2019, respectively 18,245,494 18,445,494
Additional paid-in capital 17,001,736 18,794,141
Retained earnings 151,910,115 146,225,085
Accumulated other comprehensive income 13,992,557 4,114,752
Total stockholders' equity 201,149,902 187,579,472
Total liabilities and stockholders' equity $ 1,896,972,434 $ 1,737,182,505