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Summarized Financial Information of Citizens Holding Company
 12 Months Ended
Dec. 31, 2018
Condensed Financial Information Disclosure [Abstract]  
Summarized Financial Information of Citizens Holding Company
Note 10. Summarized Financial Information of Citizens Holding Company
Summarized financial information of Citizens Holding Company, excluding the Bank, at December 31, 2018 and December 31, 2017, and for the years ended December 31, 2018, 2017 and 2016, is as follows:
Balance Sheets
December 31, 2018 and 2017
 
  
2018
  
2017
 
Assets
        
Cash 
(1)
 
$
1,595,939
  
$
2,369,429
 
Investment in bank subsidiary 
(1)
  
82,002,089
   
85,729,466
 
Other assets 
(1)
  
268,289
   
352,145
 
  
 
 
  
 
 
 
   
Total assets
 
$
83,866,317
  
$
88,451,040
 
  
 
 
  
 
 
 
Liabilities
        
Other liabilities
 
$
—  
  
$
—  
 
   
Shareholders’ equity
  
83,866,317
   
88,451,040
 
  
 
 
  
 
 
 
   
Total liabilities and shareholders’ equity
 
$
83,866,317
  
$
88,451,040
 
  
 
 
  
 
 
 
 
(1)
Fully or partially eliminates in consolidation.
Income Statements
Years Ended December 31, 2018, 2017 and 2016
 
  
2018
  
2017
  
2016
 
Interest income 
(1)
 
$
2,255
  
$
1,902
  
$
2,379
 
  
 
 
  
 
 
  
 
 
 
Other income
            
Dividends from bank subsidiary 
(1)
  
3,990,000
   
5,472,000
   
4,104,001
 
Equity in undistributed earnings (loss) of bank subsidiary 
(1)
  
3,021,807
   
(1,348,757
) 
  
2,845,152
 
Other income
  
—  
   
—  
   
—  
 
  
 
 
  
 
 
  
 
 
 
Total other income
  
7,011,807
   
4,123,243
   
6,949,153
 
  
 
 
  
 
 
  
 
 
 
Other expense
  
445,938
   
459,935
   
355,256
 
  
 
 
  
 
 
  
 
 
 
Income before income taxes
  
6,568,124
   
3,665,210
   
6,596,276
 
Income tax benefit
  
(105,003
) 
  
(38,338
) 
  
(140,378
) 
  
 
 
  
 
 
  
 
 
 
Net income
 
$
6,673,127
  
$
3,703,548
  
$
6,736,654
 
  
 
 
  
 
 
  
 
 
 
 
(1)
Eliminates in consolidation.
 
Statements of Cash Flows
Years Ended December 31, 2018, 2017 and 2016
 
  
2018
  
2017
  
2016
 
Cash flows from operating activities
            
Net income
 
$
6,673,127
  
$
3,703,548
  
$
6,736,654
 
Adjustments to reconcile net income to net cash provided by operating activities
            
Equity in undistributed (earnings) loss of the Bank
  
(3,021,807
) 
  
1,348,757
   
(2,845,152
) 
Stock compensation expense
  
170,325
   
210,735
   
186,425
 
Increase (decrease) in other assets
  
83,856
   
265,925
   
(143,602
) 
  
 
 
  
 
 
  
 
 
 
    
Net cash provided by operating activities
  
3,905,501
   
5,528,965
   
3,934,325
 
  
 
 
  
 
 
  
 
 
 
Cash flows from financing activities
            
Dividends paid to shareholders
 
$
(4,705,991
) 
 
$
(4,697,056
) 
 
$
(4,686,325
) 
Proceeds from stock option exercises
  
27,000
   
92,625
   
—  
 
  
 
 
  
 
 
  
 
 
 
Net cash used in financing activities
  
(4,678,991
) 
  
(4,604,431
) 
  
(4,686,325
) 
  
 
 
  
 
 
  
 
 
 
Net (decrease) increase in cash
  
(773,490
) 
  
924,534
   
(752,000
) 
  
 
 
  
 
 
  
 
 
 
Cash, beginning of year
  
2,369,429
   
1,444,895
   
2,196,895
 
  
 
 
  
 
 
  
 
 
 
Cash, end of year
 
$
1,595,939
  
$
2,369,429
  
$
1,444,895
 
  
 
 
  
 
 
  
 
 
 
The Bank is required to obtain approval from state regulators before paying dividends.