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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Cash flows from operating activities:    
Net income $ 1,065,304 $ 1,047,645
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 75,000 30,000
Depreciation 218,425 233,166
Net amortization of investment securities 103,941 37,715
Income on cash surrender value of bank owned life insurance (33,262) (31,731)
Amortization of intangibles 3,906 3,906
Net gain on sale of securities (124,211) (27,906)
Change in:    
Other assets (12,397) (259,477)
Other liabilities 1,166 421,713
Net cash provided by operating activities 1,297,872 1,455,031
Cash flows from investing activities:    
Proceeds from calls, paydowns and maturities of securities HTM 1,847,082 894,425
Proceeds from calls, paydowns and maturities of securities AFS 167,612 5,909,000
Proceeds from sale of securities available for sale 136,211 5,302,031
Proceeds from sale of securities held to maturity 0 576,834
Proceeds from maturities of certificates of deposit in other banks 0 245,000
Purchase of securities available for sale (6,207,098) 0
Purchase of Federal Home Loan Bank Stock (30,500) (36,200)
Purchase of certificates of deposit in other banks (1,235,000) 0
Net change in loans (18,220,674) (19,978,000)
Purchase of premises and equipment (269,194) (220,926)
Net cash used by investing activities (23,811,561) (7,307,836)
Cash flows from financing activities:    
Net change in deposits 21,513,570 (7,611,170)
Cash dividends paid (280,218) (254,784)
Net cash provided (used) by financing activities 21,233,352 (7,865,954)
Increase in cash and cash equivalents (1,280,337) (13,718,759)
Cash and cash equivalents - beginning of period 26,519,916 31,080,273
Cash and cash equivalents - end of period 25,239,579 17,361,514
NONCASH ITEMS:    
Unrealized gain on securities available for sale $ 145,538 $ 954,807