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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities    
Interest received $ 4,508,539 $ 4,238,900
Fees and commissions received 214,151 238,907
Interest paid (782,666) (487,695)
Proceeds from sale of mortgage loans held for sale 1,488,092 2,567,407
Origination of mortgage loans held for sale (1,331,919) (2,539,707)
Cash paid to suppliers and employees (2,865,997) (2,609,031)
Income taxes paid, net of refunds received
1,230,200 1,408,781
Cash flows from investing activities    
Available for sale (1,438,497) (1,364,864)
Held to maturity 200,000
Available for sale (5,062,430)
Held to maturity (132,187)
Purchase of certificate of deposit (242,000)
Loans made to customers, net of principal collected 4,403,357 (5,234,852)
Proceeds from sale of SBA loans 1,483,594 668,508
Redemption of stock in FHLB of Atlanta 72,100 84,000
Purchases of premises, equipment and software (33,464) (18,677)
2,369,467 (3,378,157)
Cash flows from financing activities    
Noninterest-bearing deposits (2,285,616) (5,217,949)
Interest-bearing deposits 12,760,098 19,219,973
Securities sold under repurchase agreements (1,879,205) (2,164,199)
Federal Home Loan Bank of Atlanta advances (4,500,000)
Common stock issued 1,550
8,595,277 7,339,375
Net increase in cash and cash equivalents 12,194,944 5,369,999
Cash and cash equivalents at beginning of period 14,618,237 7,237,385
Cash and cash equivalents at end of period 26,813,181 12,607,384
Reconciliation of net income to net cash provided by operating activities    
Net income 1,096,287 1,122,118
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 90,167 97,862
Provision for loan losses 13,000 50,000
Lease expense in excess of rent paid 11,083
Equity security dividends reinvested (3,045) (2,721)
Unrealized gain on equity security (7,845) (960)
Gain on sale of SBA loans (130,015) (60,508)
Amortization of premiums and accretion of discounts, net 19,721 37,045
Increase (decrease) in    
Deferred loan fees (11,680) (9,183)
Accrued interest payable 38,717 48,066
Other liabilities (115,566) 149,648
Decrease (increase) in    
Mortgage loans held for sale 156,173 27,700
Accrued interest receivable (24,271) (6,942)
Bank owned life insurance cash surrender value (40,386) (39,905)
Other assets 137,860 (3,439)
$ 1,230,200 $ 1,408,781