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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities    
Net income $ 360,591 $ 5,295,127
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 677,551 606,918
Stock dividend on financial institution stock (53,600) (21,014)
Loss on sale and impairments of other real estate 0 89,779
Amortization of premiums and discounts on securities, net 413,090 554,513
Amortization of ESOP award 78,737 48,700
Amortization of stock-based compensation 24,699 0
Amortization of core deposit intangible 62,268 79,848
Loss on sale of available-for-sale securities 176,089 0
Gain on sale of loans (11,450,457) (10,687,005)
Proceeds from sale of loans held for sale 276,322,001 280,672,817
Funding of loans held for sale (254,247,735) (267,072,214)
Provision for loan losses 575,000 1,019,000
Net appreciation on bank-owned life insurance (154,504) (126,154)
Deferred income tax expense (benefit) 2,191,457 (4,228,571)
Changes in operating assets and liabilities:    
Accrued interest receivable (48,875) (91,181)
Income taxes receivable 0 (41,019)
Prepaid and other assets (638,832) 204,641
Accrued interest and other liabilities 1,138,205 615,948
Net cash provided by operating activities 15,425,685 6,920,133
Cash flows from investing activities    
Proceeds from principal payments on available-for-sale securities 5,823,104 6,711,717
Proceeds from sales of available-for-sale securities 6,933,361 0
Purchases of available-for-sale securities (6,102,485) (10,370,646)
Net change in loans held for investment (28,897,562) (55,956,151)
Purchases of premises and equipment (684,986) (919,060)
Purchase of bank owned life insurance (4,500,000) 0
Purchases of stock in financial institutions (197,200) (2,007,200)
Net proceeds from sales of other real estate 0 411,778
Net cash (used for) investing activities (27,625,768) (62,129,562)
Cash flows from financing activities    
Net change in deposits 11,039,330 (1,178,311)
Net change in escrows (18,327) 37,804
Issuance of common stock 55,314 15,936,416
Common stock repurchases (414,400) 0
Net change in Federal Home Loan Bank advances (5,000,000) 37,000,000
Net cash provided by financing activities 5,661,917 51,795,909
Net (decrease) in cash and cash equivalents (6,538,166) (3,413,520)
Cash and cash equivalents, beginning of period 16,411,344 19,824,864
Cash and cash equivalents, end of period 9,873,178 16,411,344
Supplemental disclosures:    
Interest on deposits and advances paid 2,264,168 1,684,054
Income taxes paid 88,696 98,000
Noncash investing and financing activities:    
Transfers of loans to other real estate $ 0 $ 195,558