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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 2,612,473 $ 2,507,846
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 94,994 95,732
Gain on sale of securities   (348,327)
Loss on sale of other real estate   13,450
Valuation and other adjustments to other real estate 46,143
Provision for loan losses 32,500 185,000
Stock-based compensation expense 36,542 39,683
Deferred income taxes (553,671)  
Net amortization of unearned discounts on investment securities 198,768 92,417
Origination of mortgage loans held for sale (32,568,879) (36,412,202)
Proceeds from sale of mortgage loans held for sale 34,722,888 35,731,989
Decrease (increase) in accrued interest receivable and other assets 62,645 (292,725)
Increase (decrease) in accrued interest payable and other liabilities 143,193 (99,874)
Net cash provided by operating activities 4,827,596 1,512,989
Cash flows from investing activities:    
Proceeds from calls and maturities of investment securities available for sale 3,787,150 4,146,000
Proceeds from sale of available for sale securities   21,113,400
Purchase of investment securities available for sale (15,084,800) (9,033,245)
Proceeds from sale of other real estate   85,001
Net decrease (increase) in loans 389,768 (27,767,765)
Purchase of premises, equipment and leasehold improvements, net (69,347) (24,658)
Net cash used in investing activities (10,977,229) (11,481,267)
Cash flows from financing activities:    
Net increase in deposit accounts 13,769,418 23,503,668
Dividends paid (1,389,033) (1,278,434)
Stock options exercised 154,858 260,546
Net cash provided by financing activities 12,535,243 22,485,780
Net increase in cash and cash equivalents 6,385,610 12,517,502
Cash and cash equivalents at beginning of year 26,242,330 29,194,786
Cash and cash equivalents at end of year 32,627,940 41,712,288
Cash paid during the year for:    
Interest 254,933 190,343
Income taxes 1,511,965 1,069,840
Supplemental disclosure for non-cash investing and financing activity:    
Change in unrealized gain on securities available for sale, net of income taxes 1,026,912 838,910
Change in dividends payable $ 1,767 $ 3,275