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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash flows from operating activities:    
Net income $ 2,138,729 $ 2,059,219
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 150,000 70,000
Depreciation 436,850 466,331
Net amortization of investment securities 204,656 118,534
Income on cash surrender value of bank owned life insurance (66,649) (63,029)
Amortization of intangibles 7,812 7,813
Loss on sale of foreclosed assets 8,892 0
Net gain on sale of securities (166,815) (111,867)
Net loss on disposal of other assets 1,622 1,319
Change in:    
Other assets 82,430 (306,107)
Other liabilities 174,844 163,421
Net cash provided by operating activities 2,972,371 2,405,634
Cash flows from investing activities:    
Proceeds from calls, paydowns and maturities of securities HTM 4,271,682 2,979,962
Proceeds from calls, paydowns and maturities of securities AFS 334,914 6,109,733
Proceeds from Federal Home Loan Bank Stock repurchase 0 127,500
Proceeds from sale of securities available for sale 2,676,211 10,384,181
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 held to maturity 0 (478,559)
Purchase of securities available for sale (7,039,139) (6,611,681)
Purchase of Federal Home Loan Bank Stock (30,500) (163,700)
Purchase of certificates of deposit in other banks (1,985,000) 0
Net change in loans (30,252,441) (37,233,353)
Purchase of premises and equipment (629,673) (390,394)
Proceeds from sales of other assets 80,720 0
Net cash used by investing activities (32,573,226) (24,454,477)
Cash flows from financing activities:    
Net change in deposits 19,736,190 5,000,606
Cash dividends paid (560,436) (509,567)
Net cash provided by financing activities 19,175,754 4,491,039
Decrease in cash and cash equivalents (10,425,101) (17,557,804)
Cash and cash equivalents - beginning of period 26,519,916 31,080,273
Cash and cash equivalents - end of period 16,094,815 13,522,469
NONCASH ITEMS:    
Unrealized gain on securities available for sale 476,333 1,357,589
Sale of foreclosed properties through loans $ 38,000 $ 0