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Consolidated Statements of Cash Flows (Unaudited) (USD $)
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities:    
Net income $ 1,247,417 $ 2,317,537
Adjustment to reconcile net income to net cash provided by operating activities:    
Depreciation 1,176,000 1,218,000
Provision for allowance for loan losses 1,187,000 2,735,000
Loss on writedown of other real estate 124,606 77,350
Loss on sales of other real estate 25,291 39,350
Loss on other investments 82,916 15,550
Gain on sales and calls of securities (7,174) (1,567,486)
Accretion of held to maturity securities (1,444) (1,413)
Change in accrued interest receivable (239,584) 625,954
Change in other assets 2,605,373 15,556
Change in other liabilities 80,850 20,596,976
Net cash provided by operating activities 6,281,251 26,072,374
Cash flows from investing activities:    
Proceeds from maturities, sales and calls of available for sale securities 78,710,848 147,206,124
Investment in available for sale securities (104,646,484) (173,037,295)
Proceeds from maturities of held to maturity securities   389,920
Redemption of Federal Home Loan Bank Stock 128,200 1,645,100
Proceeds from sales of other real estate 358,526 807,500
Loans, net change 12,457,729 17,045,947
Acquisition of premises and equipment (272,904) (172,932)
Investment in other assets (125,021) (325,325)
Net cash used in investing activities (13,389,106) (6,440,961)
Cash flows from financing activities:    
Demand and savings deposits, net change 25,664,495 20,461,290
Time deposits made, net change (11,384,574) 28,392,369
Cash dividends (462,323) (515,170)
Retirement of common stock (192,560)  
Borrowings from Federal Home Loan Bank 330,002,395 390,669,662
Repayments to Federal Home Loan Bank (344,003,538) (441,123,947)
Federal funds purchased and securities sold under agreements to repurchase, net change 28,942,450 (3,558,614)
Net cash provided by (used in) financing activities 28,566,345 (5,674,410)
Net increase in cash and cash equivalents 21,458,490 13,957,003
Cash and cash equivalents, beginning of period 24,146,939 29,155,294
Cash and cash equivalents, end of period $ 45,605,429 $ 43,112,297