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Consolidated Statements of Income - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Interest and dividend income:    
Loans, including fees $ 50,469,873 $ 44,282,197
Securities:    
Taxable 7,763,684 6,483,893
Tax-exempt 3,628,123 4,047,054
Other interest and dividend income 1,078,967 1,364,349
Total interest and dividend income 62,940,647 56,177,493
Interest expense:    
Deposits 7,820,828 10,200,626
Other borrowed funds 276,982 728,723
Total interest expense 8,097,810 10,929,349
Net interest income 54,842,837 45,248,144
Provision for loan losses 5,680,656 1,314,104
Net interest income after provision for loan losses 49,162,181 43,934,040
Noninterest income:    
Securities gains, net 429,925 17,031
Gain on sale of loans held for sale 2,111,893 1,044,798
Other noninterest income 934,164 826,221
Total noninterest income 10,620,137 8,629,398
Noninterest expense:    
Salaries and employee benefits 22,868,601 19,675,952
Data processing 5,181,705 4,130,506
Occupancy expenses, net 2,667,788 2,275,882
FDIC insurance assessments 313,069 193,593
Professional fees 1,537,254 1,753,531
Business development 1,081,537 1,242,271
Intangible asset amortization 826,020 609,624
New Markets Tax Credit projects amortization 638,851 581,563
Other operating expenses, net 1,436,430 1,058,747
Total noninterest expense 36,551,255 31,521,669
Income before income taxes 23,231,063 21,041,769
Provision for income taxes 4,381,000 3,847,600
Net income $ 18,850,063 $ 17,194,169
Basic and diluted earnings per share (in dollars per share) $ 2.06 $ 1.86
Fiduciary and Trust [Member]    
Noninterest income:    
Noninterest income $ 3,848,497 $ 3,596,770
Financial Service [Member]    
Noninterest income:    
Noninterest income 1,523,189 1,619,269
Credit and Debit Card [Member]    
Noninterest income:    
Noninterest income $ 1,772,469 $ 1,525,309