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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash flows from operating activities:    
Net income $ 2,059,219 $ 1,673,316
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 70,000 90,000
Depreciation 466,331 474,694
Net amortization of investment securities 118,534 163,571
Income on cash surrender value of bank owned life insurance (63,029) (73,119)
Amortization of intangibles 7,813 7,812
Gain on sale/writedown of foreclosed assets (732) (12,535)
Net gain on sale of securities (111,867) (3,587)
Net loss (gain) on disposal of other assets 1,319 (9,305)
Change in:    
Other assets (306,107) 66,923
Other liabilities 164,153 (344,003)
Net cash provided by operating activities 2,405,634 2,033,767
Cash flows from investing activities:    
Proceeds from calls, paydowns and maturities of securities HTM 2,979,962 2,151,473
Proceeds from calls, paydowns and maturities of securities AFS 6,109,733 1,595,509
Proceeds from Federal Home Loan Bank Stock repurchase 127,500 0
Proceeds from sale of securities available for sale 10,384,181 4,044,500
Proceeds from sale of securities held to maturity 576,834 516,746
Proceeds from maturities of certificates of deposit in other banks 245,000 0
Purchase of securities held to maturity (478,559) (3,583,857)
Purchase of securities available for sale (6,611,681) (1,094,645)
Purchase of Federal Home Loan Bank Stock (163,700) (102,300)
Net change in loans (37,233,353) (12,385,937)
Proceeds from bank owned life insurance 0 30,011
Purchase of premises and equipment (390,394) (267,249)
Proceeds from sales of other assets 0 201,000
Net cash used by investing activities (24,454,477) (8,894,749)
Cash flows from financing activities:    
Net change in deposits 5,000,606 11,852,963
Proceeds from issuance of short-term debt 0 4,000,000
Cash dividends paid (509,567) (509,567)
Net cash provided by financing activities 4,491,039 15,343,396
Increase (decrease) in cash and cash equivalents (17,557,804) 8,482,414
Cash and cash equivalents - beginning of period 31,080,273 12,558,697
Cash and cash equivalents - end of period 13,522,469 21,041,111
NONCASH ITEMS:    
Unrealized gain on securities available for sale $ 1,357,589 $ 49,701