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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Cash flows from operating activities:    
Net income $ 3,090,258 $ 3,031,974
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 225,000 115,000
Depreciation 655,275 688,790
Net amortization of investment securities 302,635 205,981
Income on cash surrender value of bank owned life insurance (100,165) (94,169)
Amortization of intangibles 11,719 11,719
Loss on sale of foreclosed assets 8,892 0
Net gain on sale of securities (186,610) (168,919)
Net loss on disposal of other assets 1,594 1,275
Change in:    
Other assets (59,371) (381,169)
Other liabilities 450,679 674,355
Net cash provided by operating activities 4,399,906 4,084,837
Cash flows from investing activities:    
Proceeds from calls, paydowns and maturities of securities HTM 7,487,642 4,227,615
Proceeds from calls, paydowns and maturities of securities AFS 482,585 10,160,070
Proceeds from Federal Home Loan Bank Stock repurchase 424,600 413,700
Proceeds from sale of securities available for sale 5,741,211 11,933,634
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) (14,680,561)
Purchase of Federal Home Loan Bank Stock (1,014,100) (418,700)
Purchase of certificates of deposit in other banks (1,985,000) 0
Net change in loans (38,303,523) (36,538,675)
Purchase of premises and equipment (1,347,213) (1,304,463)
Proceeds from sales of fixed assets and foreclosed assets 88,588 0
Net cash used by investing activities (35,464,349) (25,864,105)
Cash flows from financing activities:    
Net change in deposits 13,263,491 25,240,406
Payment of short-term portion of long-term debt (7,590,476) (6,733,333)
Proceeds from issuance of short-term debt 7,000,000 857,143
Proceeds from issuance of long-term debt 13,000,000 5,142,857
Cash dividends paid (840,654) (789,829)
Net cash provided by financing activities 24,832,361 23,717,244
Increase (decrease) in cash and cash equivalents (6,232,082) 1,937,976
Cash and cash equivalents - beginning of period 26,519,916 31,080,273
Cash and cash equivalents - end of period 20,287,834 33,018,249
NONCASH ITEMS:    
Increase in foreclosed properties and decrease in loans 903,842 44,963
Unrealized gain on securities available for sale 522,001 1,137,723
Sale of foreclosed properties through loans 38,000 0
Net reclass between short and long-term debt $ 14,257,143 $ 6,733,333