XML 49 R7.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2019
Dec. 31, 2018
Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES          
Net income (loss)     $ 929,779 $ (187,299)  
Adjustments to reconcile net income (loss) to net cash flows from operating activities          
Provision for loan losses     0 0  
Depreciation     282,449 278,919  
Amortization and accretion     29,245 41,593  
Origination of mortgage loans held for sale     (150,995,339) (45,532,436)  
Proceeds from sales of mortgage loans held for sale     154,091,310 49,815,774  
Gain on sale of mortgage loans held for sale $ (936,979) $ (287,496) (2,187,722) (621,782)  
Gain on sale of other real estate owned, net     (109,708) 0  
Loss on sale or disposal of assets, net     1,650 0  
Changes in assets and liabilities:          
Accrued interest receivable and other assets     (231,896) 454,274  
Accrued interest payable and other liabilities     862,089 (1,042,560)  
Net cash flows provided by operating activities     2,671,857 3,206,483  
CASH FLOWS FROM INVESTING ACTIVITIES          
Proceeds from maturities or calls of securities available for sale     348,168 295,322  
Purchase of securities available for sale     (2,104,432) (650,000)  
Change in loans     7,276,779 516,245  
Changes from redemption (purchase) of FHLB stock     1,026,000 (274,500)  
Change in interest bearing deposits in banks     3,472,022 (51,124)  
Proceeds from sale of other real estate owned     1,061,484 251,025  
Capital expenditures on other real estate owned     (36,852) (27)  
Proceeds from sale of premises and equipment     8,000 0  
Purchase of premises and equipment, net     (156,912) (156,279)  
Net cash flows provided by (used in) investing activities     10,894,257 (69,338)  
CASH FLOWS FROM FINANCING ACTIVITIES          
Net increase (decrease) in deposits     14,126,697 (6,658,959)  
FHLB advance proceeds     847,200,000 318,550,000  
FHLB advance repayments     (870,900,000) (312,450,000)  
Change in advance payments by borrowers for property taxes and insurance     (2,960,286) (3,250,840)  
Net cash flows used in financing activities     (12,533,589) (3,809,799)  
Net Change in Cash and Cash Equivalents     1,032,525 (672,654)  
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD     5,630,770 6,134,146 $ 6,134,146
CASH AND CASH EQUIVALENTS - END OF PERIOD $ 6,663,295 $ 5,461,492 6,663,295 5,461,492 $ 5,630,770
SUPPLEMENTAL CASH FLOW DISCLOSURES          
Cash paid for interest     908,675 712,263  
Loans transferred to other real estate owned     $ 136,671 $ 418,849