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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Cash flows from operating activities:    
Net income $ 3,523,625 $ 3,090,258
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 604,500 225,000
Depreciation 722,855 655,275
Net amortization of investment securities 276,474 302,635
Income on cash surrender value of bank owned life insurance (123,241) (100,165)
Amortization of intangibles 11,719 11,719
Loss on sale of foreclosed assets 6,423 8,892
Net gain on sale of securities 0 (186,610)
Net loss on disposal of other assets 752 1,594
Change in:    
Other assets (30,764) (59,371)
Other liabilities 5,348 450,679
Net cash provided by operating activities 4,997,691 4,399,906
Cash flows from investing activities:    
Proceeds from calls, paydowns and maturities of securities HTM 8,260,907 7,487,642
Proceeds from calls, paydowns and maturities of securities AFS 598,892 482,585
Proceeds from Federal Home Loan Bank Stock repurchase 727,400 424,600
Proceeds from sale of securities available for sale 0 5,741,211
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 (546,600) (1,014,100)
Purchase of certificates of deposit in other banks 0 (1,985,000)
Net change in loans (37,532,022) (38,303,523)
Purchase of premises and equipment (2,681,711) (1,347,213)
Proceeds from sales of foreclosed assets 954,791 88,588
Proceeds from sales of fixed assets 2,820 0
Net cash used by investing activities (37,712,561) (35,464,349)
Cash flows from financing activities:    
Net change in deposits 29,242,453 13,263,491
Payment of short-term portion of long-term debt (16,257,143) (7,590,476)
Proceeds from issuance of short-term debt 3,000,000 7,000,000
Proceeds from issuance of long-term debt 9,000,000 13,000,000
Cash dividends paid (890,369) (840,654)
Net cash provided by financing activities 24,094,941 24,832,361
Decrease in cash and cash equivalents (8,619,929) (6,232,082)
Cash and cash equivalents - beginning of period 34,138,421 26,519,916
Cash and cash equivalents - end of period 25,518,492 20,287,834
NONCASH ITEMS:    
Increase in foreclosed properties and decrease in loans 503,655 903,842
Unrealized gain (loss) on securities available for sale (1,678,063) 522,001
Sale of foreclosed properties through loans 0 38,000
Net reclass between short and long-term debt 6,600,000 14,257,143
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