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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Sep. 30, 2020
Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 1,778,848 $ 567,896
Adjustments to reconcile net income to net cash flows used in operating activities    
Depreciation 136,683 144,272
Amortization and accretion 10,056 7,596
Origination of mortgage loans held for sale (142,460,755) (87,049,378)
Proceeds from sales of mortgage loans held for sale 140,615,027 75,161,612
Gain on sale of mortgage loans held for sale (3,003,100) (1,250,743)
Gain on sale of other real estate owned, net 0 (4,817)
Gain on sale or disposal of assets, net (7,509) 0
Changes in assets and liabilities:    
Accrued interest receivable and other assets (314,910) (1,158,730)
Accrued interest payable and other liabilities (3,148,235) 6,043,005
Net cash flows used in operating activities (6,393,895) (7,539,287)
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from maturities or calls of securities available for sale 562,823 316,162
Purchase of securities available for sale (500,000) (1,459,432)
Change in loans 4,387,871 8,745,512
Change from redemption of FHLB stock 0 670,500
Change in interest bearing deposits in banks (154,918) 42,223
Proceeds from sale of other real estate owned 0 515,246
Capital expenditures on other real estate owned 0 (36,852)
Proceeds from sale of premises and equipment 26,400 0
Purchase of premises and equipment, net (120,842) (32,720)
Net cash flows provided by investing activities 4,201,334 8,760,639
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposits 1,795,458 12,161,267
FHLB advance proceeds 2,000,000 497,000,000
FHLB advance repayments (7,000,000) (512,600,000)
Change in advance payments by borrowers for property taxes and insurance 1,755,385 1,384,007
Net cash flows used in financing activities (1,449,157) (2,054,726)
Net Change in Cash and Cash Equivalents (3,641,718) (833,374)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD 13,106,041 5,630,770
CASH AND CASH EQUIVALENTS - END OF PERIOD 9,464,323 4,797,396
SUPPLEMENTAL CASH FLOW DISCLOSURES    
Cash paid for interest $ 279,707 $ 413,008