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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities    
Net income $ 892,430 $ 952,077
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 533,643 504,538
Stock dividend on financial institution stock (58,600) (36,600)
Amortization of premiums and discounts on securities, net 207,696 317,530
Amortization of ESOP awards 41,893 57,832
Amortization of stock-based compensation 344,147 0
Amortization of core deposit intangible 38,341 49,167
Gain on sale of loans (10,822,238) (8,066,795)
Proceeds from sale of loans held for sale 245,523,027 199,313,427
Funding of loans held for sale (238,052,849) (184,451,594)
Provision for loan losses 93,000 550,000
Net appreciation on bank-owned life insurance (211,878) (91,946)
Deferred income tax (benefit) expense (147,095) 529,855
Changes in operating assets and liabilities:    
Accrued interest receivable (80,992) (44,802)
Prepaid and other assets (416,994) (56,323)
Accrued interest and other liabilities 756,395 493,954
Net cash from operating activities (1,360,074) 10,020,320
Cash flows from investing activities    
Proceeds from principal payments on available-for-sale securities 4,874,620 4,589,838
Purchases of available-for-sale securities (9,286,764)
Purchase of bank-owned life insurance (155,000)
Net change in loans held for investment (23,870,830) (28,260,678)
Purchases of premises and equipment (188,912) (415,613)
Purchase of stock in financial institutions (197,200)
Net cash from investing activities (28,626,886) (24,283,653)
Cash flows from financing activities    
Net change in deposits 15,952,080 15,616,303
Net change in escrows 145,353 76,335
Net change in Federal Home Loan Bank advances 25,000,000 17,000,000
Exercise of stock options 149,228 55,314
Dividends paid (4,161,114)
Common stock repurchases (1,572,050) 0
Net cash from financing activities 35,513,497 32,747,952
Net increase in cash and cash equivalents 5,526,537 18,484,619
Cash and cash equivalents, beginning of period 9,873,178 16,411,344
Cash and cash equivalents, end of period 15,399,715 34,895,963
Supplemental disclosures:    
Interest on deposits and advances paid 2,253,176 1,587,771
Income taxes paid 187,600 48,200
Loans transferred to loans held for sale $ 1,443,506 $ 2,928,646