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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2018
Mar. 31, 2017
Cash flows from operating activities:    
Net income $ 1,232,366 $ 1,065,304
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 215,500 75,000
Depreciation 237,452 218,425
Net amortization of investment securities 90,812 103,941
Income on cash surrender value of bank owned life insurance (41,556) (33,262)
Amortization of intangibles 3,906 3,906
Loss on sale/writedown of foreclosed assets 7,521 0
Disposal of fixed assets to charitable expense 0 13,045
Net gain on sale of securities 0 (124,211)
Change in:    
Other assets 267,377 (25,442)
Other liabilities (565,517) 1,166
Net cash provided by operating activities 1,447,861 1,297,872
Cash flows from investing activities:    
Proceeds from calls, paydowns and maturities of securities HTM 649,921 1,847,082
Proceeds from calls, paydowns and maturities of securities AFS 125,115 167,612
Proceeds from sale of securities available for sale 0 136,211
Purchase of securities available for sale (3,011,243) (6,207,098)
Purchase of Federal Home Loan Bank Stock (36,600) (30,500)
Purchase of certificates of deposit in other banks 0 (1,235,000)
Net change in loans (5,477,008) (18,220,674)
Purchase of premises and equipment (966,591) (269,194)
Proceeds from sales of foreclosed assets 954,791 0
Net cash used by investing activities (7,761,615) (23,811,561)
Cash flows from financing activities:    
Net change in deposits 21,442,815 21,513,570
Cash dividends paid (280,035) (280,218)
Net cash provided by financing activities 21,162,780 21,233,352
Increase in cash and cash equivalents 14,849,026 (1,280,337)
Cash and cash equivalents - beginning of period 34,138,421 26,519,916
Cash and cash equivalents - end of period 48,987,447 25,239,579
NONCASH ITEMS:    
Increase in foreclosed properties and decrease in loans 376,050 0
Unrealized gain (loss) on securities available for sale (973,869) 145,538
Net reclass between short and long-term debt 1,500,000 0
Retirement of treasury stock 26,242,793 0
Receivable from sale of guaranteed foreclosed asset $ 172,616 $ 0