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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities    
Net income $ 952,077 $ 1,075,138
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 504,538 462,236
Stock dividend on financial institution stock (36,600) (10,614)
Loss on sale and impairments of other real estate 0 89,779
Amortization of premiums and discounts on securities, net 317,530 415,573
ESOP expense 57,832 46,570
Amortization of core deposit intangible 49,167 63,048
Gain on sale of loans (8,066,795) (7,525,079)
Proceeds from sale of loans held for sale 199,313,427 200,814,873
Funding of loans held for sale (184,451,594) (203,873,331)
Provision for loan losses 550,000 306,000
Net increase in bank-owned life insurance (91,946) (94,448)
Deferred income tax expense 529,855 0
Changes in operating assets and liabilities:    
Accrued interest receivable (44,802) (82,617)
Prepaid and other assets (56,323) (3,799,456)
Accrued interest and other liabilities 493,954 687,933
Net cash used for operating activities 10,020,320 (11,424,395)
Cash flows from investing activities    
Proceeds from principal payments on available-for-sale securities 4,589,838 4,978,150
Purchases of available-for-sale securities 0 (8,456,771)
Net change in loans held for investment (28,260,678) (35,564,164)
Purchases of premises and equipment (415,613) (266,317)
Purchase of stock in financial institutions (197,200) (1,970,800)
Net proceeds from sales of other real estate 0 411,778
Net cash used for investing activities (24,283,653) (40,868,124)
Cash flows from financing activities    
Net change in deposits 15,616,303 18,609,572
Net change in escrows 76,335 206,572
Net change in Federal Home Loan Bank advances 17,000,000 36,000,000
Stock option exercise 55,314
Net cash provided by financing activities 32,747,952 54,816,144
Net increase in cash and cash equivalents 18,484,619 2,523,625
Cash and cash equivalents, beginning of period 16,411,344 19,824,864
Cash and cash equivalents, end of period 34,895,963 22,348,490
Supplemental disclosures:    
Interest on deposits and advances paid 1,341,890 1,240,123
Income taxes paid 48,200 42,000
Noncash investing and financing activities:    
Transfers of loans to other real estate $ 0 $ 195,558