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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Cash flows from operating activities    
Net (Loss) Income $ (298,570) $ 750,188
Less: Net loss from discontinued operations (1,198,445) (291,136)
Net income from continuing operations 899,875 1,041,324
Adjustments to reconcile net income to net cash from operating activities:    
Depreciation and amortization 323,710 355,997
Stock dividends on financial institution stock (54,800) (35,100)
Amortization of premiums and discounts on securities, net 51,133 149,740
Amortization of ESOP awards 33,074 27,929
Amortization of stock-based compensation 164,054 189,191
Amortization of core deposit intangible 20,430 26,202
Gain on sale of loans (58,297) (122,988)
Proceeds from sale of loans 993,026 1,566,494
Provision for loan losses 172,500 93,000
Net appreciation on bank-owned life insurance (137,965) (139,298)
Deferred income tax (benefit) expense (128,832) 64,144
Changes in operating assets and liabilities:    
Accrued interest receivable (136,820) (60,793)
Prepaid and other assets 102,459 (585,001)
Accrued interest and other liabilities 328,628 493,398
Net cash from operating activities - continuing operations 2,572,175 3,064,239
Net cash from operating activities - discontinued operations 22,705,420 (6,175,485)
Net cash from operating activities 25,277,595 (3,111,246)
Cash flows from investing activities    
Proceeds from principal payments on available-for-sale securities 2,874,659 2,559,998
Purchases of available-for-sale securities (3,179,247) (8,033,591)
Purchase of bank-owned life insurance (155,000)
Net change in loans held for investment (7,885,418) (20,200,083)
Purchases of premises and equipment (2,905) (170,617)
Net cash from investing activities (8,192,911) (25,999,293)
Cash flows from financing activities    
Net change in deposits 14,172,166 10,946,882
Net change in escrows (90,744) 94,956
Proceeds from Federal Home Loan Bank advances 30,000,000 80,000,000
Repayments of Federal Home Loan Bank advances (47,000,000) (45,000,000)
Exercise of stock options 70,058 149,228
Dividends paid (165,559) (4,161,114)
Common stock repurchases (636,071) (1,572,050)
Net cash from financing activities (3,650,150) 40,457,902
Net change in cash and cash equivalents 13,434,534 11,347,363
Cash and cash equivalents, beginning of period 11,774,457 9,873,178
Cash and cash equivalents, end of period 25,208,991 21,220,541
Supplemental disclosures:    
Interest on deposits and advances paid 2,272,650 1,281,600
Income taxes paid 21,000 109,100
Loans transferred to loans held for sale $ 934,729 $ 1,443,506