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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities    
Net income $ 750,188 $ 140,348
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 355,997 325,872
Stock dividend on financial institution stock (35,100) (22,400)
Amortization of premiums and discounts on securities, net 149,740 217,505
Amortization of ESOP awards 27,929 37,530
Amortization of stock-based compensation 189,191 0
Amortization of core deposit intangible 26,202 33,600
Gain on sale of loans (7,413,140) (4,509,071)
Proceeds from sale of loans held for sale 167,786,581 122,584,202
Funding of loans held for sale (164,814,284) (112,663,013)
Provision for loan losses 93,000 400,000
Net appreciation on bank-owned life insurance (139,298) (60,979)
Deferred income tax expense 64,144 136,544
Changes in operating assets and liabilities:    
Accrued interest receivable (60,793) 20,849
Prepaid and other assets (585,001) (98,167)
Accrued interest and other liabilities 493,398 129,578
Net cash from operating activities (3,111,246) 6,672,398
Cash flows from investing activities    
Proceeds from principal payments on available-for-sale securities 2,559,998 3,032,673
Purchases of available-for-sale securities (8,033,591)
Purchase of bank-owned life insurance (155,000)
Net change in loans held for investment (20,200,083) (23,350,057)
Purchases of premises and equipment (170,617) (265,554)
Net cash from investing activities (25,999,293) (20,582,938)
Cash flows from financing activities    
Net change in deposits 10,946,882 4,599,324
Net change in escrows 94,956 1,914
Net change in Federal Home Loan Bank advances 35,000,000 5,000,000
Exercise of stock options 149,228
Dividends paid (4,161,114)
Common stock repurchases (1,572,050) 0
Net cash from financing activities 40,457,902 9,601,238
Net increase (decrease) in cash and cash equivalents 11,347,363 (4,309,302)
Cash and cash equivalents, beginning of period 9,873,178 16,411,344
Cash and cash equivalents, end of period 21,220,541 12,102,042
Supplemental disclosures:    
Interest on deposits and advances paid 1,281,600 1,005,142
Income taxes paid 109,100 74,089
Loans transferred to loans held for sale $ 1,443,506 $ 2,438,034