XML 107 R96.htm IDEA: XBRL DOCUMENT v3.8.0.1
Note 17 - Condensed Parent Only Financial Statements - Statements of Cash Flows (Details) - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Cash Flows from Operating Activities    
Net income $ 814,024 $ 1,261,098
Adjustments to reconcile net income to net cash provided by operating activities:    
Increase in other assets (679,346) (503,535)
Net cash provided by operating activities 2,939,153 2,362,650
Cash Flows from Investing Activities    
Net cash used in investing activities (28,578,559) (18,964,991)
Cash Flows from Financing Activities    
Proceeds from stock offering including shares purchased by ESOP, net of expenses 22,337,869
Proceeds from stock options exercised 7,140 127,926
Shares repurchased and cancelled (253,932)
Dividends paid (523,426)
Loan to ESOP to purchase Company stock in stock offering (1,907,160)
Net cash provided by financing activities 23,448,574 15,413,271
Net (decrease) increase in cash and cash equivalents (2,190,832) (1,189,070)
Cash and cash equivalents:    
Beginning of period 5,946,649 7,135,719
End of period 3,755,817 5,946,649
Supplemental Disclosures of Cash Flow Information    
Cash paid for taxes, net of refunds received 836,395
Supplemental Schedule of Noncash Investing and Financing Activities    
Increase in ESOP put option liability 394,385 431,086
Parent Company [Member]    
Cash Flows from Operating Activities    
Net income 814,024 1,261,098
Adjustments to reconcile net income to net cash provided by operating activities:    
Increase in other assets (14,018)
Undistributed net income of subsidiary (858,784) (1,316,346)
Net cash provided by operating activities (58,778) (55,248)
Cash Flows from Investing Activities    
Payments received on ESOP notes receivable 164,195 207,165
Net cash used in investing activities 164,195 207,165
Cash Flows from Financing Activities    
Proceeds from stock offering including shares purchased by ESOP, net of expenses 22,337,869
Distribution of stock offering proceeds to bank (11,106,092)
Proceeds from stock options exercised 7,140 127,926
Shares repurchased and cancelled (253,932)
Dividends paid (523,426)
Loan to ESOP to purchase Company stock in stock offering (1,907,160)
Net cash provided by financing activities (770,218) 9,452,543
Net (decrease) increase in cash and cash equivalents (664,801) 9,604,460
Cash and cash equivalents:    
Beginning of period 9,930,224 325,764
End of period 9,265,423 9,930,224
Supplemental Disclosures of Cash Flow Information    
Cash paid for taxes, net of refunds received (3,976)
Supplemental Schedule of Noncash Investing and Financing Activities    
Increase in ESOP put option liability $ 394,385 $ 431,086