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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities    
Net income $ 5,295,127 $ 320,614
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 606,918 630,595
Stock dividend on financial institution stock (21,014) (7,112)
Loss on sale and impairments of other real estate 89,779 517,863
Amortization of premiums and discounts on securities, net 554,513 612,725
Amortization of ESOP award 48,700 54,380
Amortization of core deposit intangible 79,848 102,388
Gain on sale of available-for-sale securities 0 (6,414)
Gain on sale of loans (10,687,005) (4,847,600)
Proceeds from sale of loans held for sale 280,672,817 153,629,618
Funding of loans held for sale (267,072,214) (145,588,454)
Provision for loan losses 1,019,000 694,000
Earnings on bank-owned life insurance (126,154) (131,823)
Deferred income tax expense (4,213,570) 0
Changes in operating assets and liabilities:    
Accrued interest receivable (91,181) (43,703)
Income taxes receivable (41,019) 0
Prepaid and other assets 189,640 (347,874)
Accrued interest and other liabilities 615,948 (544,827)
Other 0 40,517
Net cash provided by operating activities 6,920,133 5,084,893
Cash flows from investing activities    
Proceeds from principal payments on available-for-sale securities 6,711,717 6,656,949
Proceeds from sales of available-for-sale securities 0 2,799,336
Purchases of available-for-sale securities (10,370,646) (9,742,836)
Net change in loans held for investment (55,956,151) (24,038,173)
Purchases of premises and equipment (919,060) (417,788)
(Purchases) redemption of stock in financial institutions (2,007,200) 366,200
Net proceeds from sales of other real estate 411,778 24,454
Net cash used for investing activities (62,129,562) (24,351,858)
Cash flows from financing activities    
Net change in deposits (1,178,311) 23,761,627
Net change in escrows 37,804 6,229
Issuance of common stock 15,936,416 0
Net change in Federal Home Loan Bank advances 37,000,000 500,000
Net cash provided by financing activities 51,795,909 24,267,856
Net (decrease) increase in cash and cash equivalents (3,413,520) 5,000,891
Cash and cash equivalents, beginning of period 19,824,864 14,823,973
Cash and cash equivalents, end of period 16,411,344 19,824,864
Supplemental disclosures:    
Interest paid 1,684,054 1,426,975
Income taxes paid 98,000 20,000
Noncash investing and financing activities:    
Transfers of loans to other real estate 195,558 28,317
Sale of treasury shares to ESOP $ 1,503,580 $ 0