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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Cash flows from operating activities:      
Net income $ 3,373,635 $ 2,903,830 $ 2,772,344
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 141,300 330,000 420,000
Depreciation 961,964 890,812 897,849
Net amortization of investment securities 307,861 324,209 361,086
Income on cash surrender value of bank owned life insurance (147,601) (123,784) (175,835)
Amortization of intangibles 15,625 44,931 215,700
Loss (gain) on sale/writedown of foreclosed assets (13,077) (84,898) 142,757
Net gain on sale of securities (3,587) (293,508) (311,800)
Net gain on disposal of other assets (9,305) (3,733) (28,670)
Change in:      
Other assets 52,322 640,249 219,807
Other liabilities (208,670) (213,747) (526,058)
Net cash provided by operating activities 4,470,467 4,414,361 3,987,180
Cash flows from investing activities:      
Proceeds from calls, paydowns and maturities of securities HTM 5,115,703 3,983,421 9,255,718
Proceeds from calls, paydowns and maturities of securities AFS 4,143,139 2,460,175 4,093,589
Proceeds from Federal Home Loan Bank Stock repurchase 141,600 1,115,000 491,500
Proceeds from sale of securities available for sale 4,044,500 2,208,318 442,600
Proceeds from sale of securities held to maturity 516,746 0 0
Proceeds from maturity of certificates of deposit in other banks 1,225,000 1,960,000 735,000
Purchase of securities held to maturity (5,207,650) (6,239,587) (9,341,009)
Purchase of securities available for sale (5,709,379) (20,586,864) (20,328,480)
Purchase of Federal Home Loan Bank Stock (450,800) (954,000) (765,000)
Purchase of certificates of deposit in other banks 0 0 (245,000)
Net change in loans (26,517,707) (6,362,332) (14,944,752)
Purchase bank owned life insurance 0 0 (116,000)
Proceeds from bank owned life insurance 30,011 0 68,505
Purchase of premises and equipment (370,837) (2,311,767) (1,105,919)
Proceeds from sales of other assets 201,000 578,067 1,398,264
Net cash used by investing activities (22,838,674) (24,149,569) (30,360,984)
Cash flows from financing activities:      
Net change in deposits 29,042,251 (460,947) 18,672,479
Payment of short-term portion of long-term debt (5,133,333) (11,800,000) (2,000,000)
Proceeds from issuance of short-term debt 2,457,143 0 0
Proceeds from issuance of long-term debt 11,542,857 10,000,000 9,000,000
Cash dividends paid (1,019,135) (815,308) (509,567)
Net cash provided (used) by financing activities 36,889,783 (3,076,255) 25,162,912
Increase (decrease) in cash and cash equivalents 18,521,576 (22,811,463) (1,210,892)
Cash and cash equivalents - beginning of period 12,558,697 35,370,160 36,581,052
Cash and cash equivalents - end of period 31,080,273 12,558,697 35,370,160
Income taxes 725,000 255,000 510,000
Interest paid 1,314,156 1,414,059 1,696,525
NONCASH ITEMS:      
Increase in foreclosed properties and decrease in loans 241,980 357,013 206,518
Unrealized gain (loss) on securities AFS 134,774 1,197,132 (1,279,018)
Unrealized gain (loss) on pension plan benefits (1,032,035) 55,700 191,451
Net reclass between short and long-term debt 5,133,333 5,133,333 11,800,000
Adjustment to director’s deferred compensation liability 0 0 (33,000)
Sale of foreclosed properties through loans $ (334,000) $ 0 $ 0