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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash flows from operating activities:    
Net income $ 2,380,054 $ 2,138,729
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 355,500 150,000
Depreciation 474,903 436,850
Net amortization of investment securities 185,548 204,656
Income on cash surrender value of bank owned life insurance (82,239) (66,649)
Amortization of intangibles 7,812 7,812
Loss on sale of foreclosed assets 6,789 8,892
Disposal of fixed assets to charitable expense 0 13,045
Net gain on sale of securities 0 (166,815)
Net loss (gain) on disposal of other assets (6,888) 1,622
Change in:    
Other assets 282,059 69,385
Other liabilities (140,255) 174,844
Net cash provided by operating activities 3,463,283 2,972,371
Cash flows from investing activities:    
Proceeds from calls, paydowns and maturities of securities HTM 4,070,107 4,271,682
Proceeds from calls, paydowns and maturities of securities AFS 354,244 334,914
Proceeds from sale of securities available for sale 0 2,676,211
Purchase of securities held to maturity (752,889) 0
Purchase of securities available for sale (6,744,149) (7,039,139)
Purchase of Federal Home Loan Bank Stock (36,600) (30,500)
Purchase of certificates of deposit in other banks 0 (1,985,000)
Net change in loans (16,285,700) (30,252,441)
Purchase of premises and equipment (1,931,714) (629,673)
Proceeds from sales of foreclosed assets 954,791 79,820
Proceeds from sales of fixed assets 2,820 900
Net cash used by investing activities (20,369,090) (32,573,226)
Cash flows from financing activities:    
Net change in deposits 18,430,694 19,736,190
Cash dividends paid (584,876) (560,436)
Net cash provided by financing activities 17,845,818 19,175,754
Increase (decrease) in cash and cash equivalents 940,011 (10,425,101)
Cash and cash equivalents - beginning of period 34,138,421 26,519,916
Cash and cash equivalents - end of period 35,078,432 16,094,815
NONCASH ITEMS:    
Increase in foreclosed properties and decrease in loans 413,655 0
Unrealized gain (loss) on securities available for sale (1,270,997) 476,333
Sale of foreclosed properties through loans 0 38,000
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
Sale of fixed assets through loans $ 13,000 $ 0