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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities    
Interest received $ 5,014,653 $ 4,515,279
Fees and commissions received 167,707 143,916
Interest paid (1,286,649) (1,066,546)
Cash paid to suppliers and employees (2,291,909) (2,393,508)
Origination of loans held for sale (453,100)
Proceeds from sale of loans held for sale 462,642
Net cash provided by operating activities 1,613,344 1,199,141
Cash flows from investing activities    
Proceeds from maturing and called securities available for sale, including principal pay downs 4,332,019 4,126,059
Purchase of investment securities available for sale (1,985,000)
Redemption of Federal Home Loan Bank stock 127,500
Loans made, net of principal repayments 9,415,130 (14,747,850)
Purchase of premises and equipment (67,026) (121,649)
Net cash provided (used) by investing activities 11,822,623 (10,743,440)
Cash flows from financing activities    
Deposits (587,837) (428,522)
Advances by borrowers for taxes and insurance 744,713 974,614
Proceeds from borrowings 11,550,000
Payments of borrowings (1,000,000) (11,553,111)
Interest rate swap on FHLB borrowings 98,039 (126,314)
Issuance of restricted stock 88
Net cash (used) provided by financing activities (744,997) 416,667
Net increase (decrease) in cash and cash equivalents 12,690,970 (9,127,632)
Cash and cash equivalents at beginning of period 23,368,415 29,353,921
Cash and cash equivalents at end of period 36,059,385 20,226,289
Net income 879,433 392,377
Amortization of premiums on certificates of deposit 22 23
Amortization of premiums on securities 158,560 238,628
Write-down of foreclosed real estate 1,186
Loan discount accretion (75,104) (450)
Deposit premium amortization (81,077) (125,009)
Borrowing premium amortization (73,047) (146,560)
Core deposit intangible asset amortization 31,516 31,516
Premises and equipment depreciation and amortization 84,340 79,517
Stock based compensation 125,515 115,212
Provision for credit losses 60,000 160,000
Decrease (increase) in    
Accrued interest receivable (2,499) (108,369)
Cash surrender value of life insurance (113,525) (122,576)
Income taxes refundable and deferred income taxes 154,342
Other assets 731,685 229,464
Increase (decrease) in    
Accrued interest payable 1,127 (249)
Deferred loan origination fees (8,096) (2,533)
Other liabilities (105,506) 302,622
Net cash provided by operating activities 1,613,344 1,199,141
Noncash investing activity    
Real estate acquired through foreclosure $ 17,305