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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Cash flows from operating activities:      
Net income $ 4,647,119 $ 3,807,492 $ 4,033,977
Adjustments to reconcile net income to net cash provided by operating activities:      
Provision for loan losses 829,500 300,000 160,000
Depreciation 1,036,986 881,000 923,578
Net amortization of investment securities 356,101 396,899 309,185
Income on cash surrender value of bank owned life insurance (147,824) (133,398) (125,290)
Amortization of intangibles 15,625 15,625 15,625
Disposal of fixed assets to charitable expense 0 13,045 0
Loss (gain) on sale/writedown of foreclosed assets (17,974) 8,892 0
Net loss (gain) on disposal of fixed assets 753 1,594 (36,701)
Net loss (gain) on sale of securities (165,369) 186,610 168,919
Net loss on disposal of bank property held for sale 96,750 0 0
Net gain on extinguishment of debt (317,832) 0 0
Stock-based compensation 17,627 0 0
Change in:      
Other assets 71,733 489,903 (253,894)
Other liabilities (193,157) 288,505 324,142
Net cash provided by operating activities 6,560,776 5,882,947 5,181,703
Cash flows from investing activities:      
Proceeds from calls, paydowns and maturities of securities HTM 12,252,434 10,070,453 5,952,271
Proceeds from calls, paydowns and maturities of securities AFS 795,028 635,818 10,354,337
Proceeds from Federal Home Loan Bank Stock repurchase 1,164,500 705,100 413,700
Proceeds from sale of securities available for sale 2,879,000 5,741,211 11,933,634
Proceeds from sale of securities held to maturity 0 0 576,834
Proceeds from maturity of certificates of deposit in other banks 0 0 245,000
Purchase of securities held to maturity (4,637,047) (265,000) (478,559)
Purchase of securities available for sale (8,762,879) (7,039,139) (25,129,827)
Purchase of Federal Home Loan Bank Stock (546,600) (1,269,100) (418,700)
Purchase certificates of deposit in other banks (747,000) (1,985,000) 0
Net change in loans (47,511,765) (38,895,975) (41,850,494)
Purchase bank owned life insurance 0 (1,063,237) 0
Purchase of premises and equipment (3,382,015) (1,955,067) (1,455,043)
Proceeds from sales of fixed assets and foreclosed assets 1,131,894 233,553 304,825
Proceeds from the sale of bank property held for sale 114,750 0 0
Net cash used by investing activities (47,249,700) (35,086,383) (39,552,022)
Cash flows from financing activities:      
Net change in deposits 58,633,827 25,512,772 32,477,143
Payment of short-term portion of long-term debt (22,971,429) (13,447,619) (7,590,476)
Payments for early retirement of long-term debt (9,110,739) 0 0
Proceeds from issuance of short-term debt 8,000,000 7,857,143 857,143
Proceeds from issuance of long-term debt 9,000,000 18,142,857 5,142,857
Cash dividends paid (1,196,332) (1,120,872) (1,070,047)
Payments for treasury stock (306,032) (122,340) (6,658)
Net cash provided by financing activities 42,049,295 36,821,941 29,809,962
Increase (decrease) in cash and cash equivalents 1,360,371 7,618,505 (4,560,357)
Cash and cash equivalents - beginning of period 34,138,421 26,519,916 31,080,273
Cash and cash equivalents - end of period 35,498,792 34,138,421 26,519,916
CASH PAID DURING THE YEAR FOR:      
Income taxes 365,000 895,000 964,000
Interest paid 3,246,847 1,881,924 1,600,593
NONCASH ITEMS:      
Increase in foreclosed properties and decrease in loans 503,655 903,842 44,963
Unrealized gain (loss) on securities AFS (665,446) 140,074 (848,222)
Unrealized gain (loss) on pension plan benefits (40,601) 503,167 (110,306)
Net reclass between short and long-term debt 7,457,143 15,114,286 7,590,476
Sale of fixed assets through loans 13,000 0 0
Sale of foreclosed properties through loans 0 38,000 0
Property moved from fixed assets to property held for sale 0 0 211,500
Retirement of treasury stock $ 26,242,793 $ 0 $ 0