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Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Net income $ 4,427,665 $ 4,617,593 $ 7,982,178 $ 8,855,028
Unrealized holding gains arising during the period 12,729,731 4,469,777 13,600,333 10,041,561
Less: reclassification adjustment for gains realized in net income 43,910 1,890 429,925 1,890
Other comprehensive income, before tax 12,685,821 4,467,887 13,170,408 10,039,671
Tax effect related to other comprehensive income (3,171,456) (1,116,972) (3,292,603) (2,509,918)
Other comprehensive income, net of tax 9,514,365 3,350,915 9,877,805 7,529,753
Comprehensive income $ 13,942,030 $ 7,968,508 $ 17,859,983 $ 16,384,781