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Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Operating activities:    
Net Income $ 6,968,183 $ 5,858,244
Adjustments to reconcile net income to net cash used in operating activities:    
Provision for loan losses 500,000 0
Depreciation 1,473,345 1,415,329
Accretion of discounts and amortization of premiums, net 1,621 3,048
Deferral of loan fees, net of deferred (costs) 130,721 (82,379)
Amortization of intangible assets 0 89,286
Stock-based compensation 343,922 419,049
Appreciation of bank-owned life insurance (149,874) (116,679)
Net gain on disposition of property and equipment (79,859) 0
Net loss on sale of other real estate 51,035 33,263
Deferred income tax expense 450,073 1,409,203
Changes in:    
Loans held for sale (46,257,790) (56,866,461)
Interest receivable (34,422) 170,105
Other assets (5,195,771) (5,823,518)
Other liabilities 2,950,731 3,969,510
Net cash used in operating activities (38,848,085) (49,522,000)
Investing activities:    
Purchases of available-for-sale securities (2,000,000) (8,347,950)
Proceeds from sales and maturities of available-for-sale securities 8,432,927 33,642,499
Proceeds from sale of other real estate 342,965 268,700
Proceeds from sale of property and equipment 82,011 0
Purchase of bank owned life insurance (657,934) 0
Purchases of premises and equipment (1,393,726) (3,970,751)
(Purchase) Redemption of restricted equity securities (1,073,500) 514,550
Loan originations, net of principal repayments (21,525,304) 12,459,632
Net cash (used in) provided by investing activities (17,792,561) 34,566,680
Financing activities:    
Net increase in non-interest-bearing deposits 58,140,464 33,456,579
Net increase (decrease) in interest-bearing deposits 1,468,780 (35,281,955)
Cash dividends paid on common stock (1,827,528) (1,592,010)
Net increase (decrease) in FHLB advances and federal funds purchased 34,950,003 (49,993)
Contributions from non-controlling interests 0 99
Distributions to non-controlling interests (84,629) (240,211)
Proceeds from issuance of common stock, net of issuance costs 0 163,539
Proceeds from exercise of stock options 485,122 175,806
Cash in lieu of fractional shares 0 12
Net cash provided by (used in) financing activities 93,132,212 (3,368,134)
CHANGE IN CASH AND CASH EQUIVALENTS 36,491,566 (18,323,454)
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 65,428,974 104,911,322
CASH AND CASH EQUIVALENTS AT END OF PERIOD 101,920,540 86,587,868
SUPPLEMENTAL SCHEDULES AND CASH FLOW INFORMATION    
Interest on deposits and other borrowings 1,412,555 1,950,828
Income taxes 3,882,000 1,923,000
Loans transferred to foreclosed real estate during the year 250,000 144,000
Unrealized gain on securities available for sale 47,602 248,363
Unrealized gain on interest rate swap 0 148,155
Unrealized gain on supplemental executive's retirement plan 9,381 3,960
Unrealized loss on mutual fund $ (209) $ 0