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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 1,509,712 $ 1,832,655
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 1,085,685 1,675,973
Provision for loan losses 922,955 431,885
Stock compensation expense 140,077 14,624
Gains from sale of securities (52,255) (116,130)
Net (gains) losses from sale of loans and other assets 112,319 (188,646)
Net (gains) losses from sale of foreclosed assets (266,487) 625,042
Changes in other assets and liabilities:    
Accrued interest receivable 101,189 (8,258)
Accrued interest payable (11,218) 1,663
Other assets and liabilities (1,200,552) (2,580,725)
Net cash provided by operating activities 2,341,425 1,688,083
CASH FLOWS FROM INVESTING ACTIVITIES, net of acquisition    
Purchase of securities available for sale (23,180,643) (27,475,384)
Proceeds from security sales, maturities, and paydowns 27,334,550 23,106,066
Purchase of restricted investments (38,000) (65,300)
Loan originations and principal collections, net (50,003,157) (49,657,159)
Purchase of bank premises and equipment (1,081,811) (2,852,005)
Proceeds from sale of foreclosed assets 5,529,640 257,190
Cash and cash equivalents received in merger 33,501,510 0
Net cash used in investing activities (7,937,911) (56,686,592)
CASH FLOWS FROM FINANCING ACTIVITIES, net of acquisition    
Net increase in deposits 54,213,883 8,242,605
Net increase in securities sold under agreements to repurchase 687,811 2,142,318
Issuance of common stock 4,043,011 34,662
Payment of dividends on preferred stock (120,000) (120,000)
Repayment of Federal Home Loan Bank advances and other borrowings (20,000,000) 0
Proceeds from Federal Home Loan Bank advances and other borrowings 0 12,000,000
Net cash provided by financing activities 38,824,705 22,299,585
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 33,228,219 (32,698,924)
CASH AND CASH EQUIVALENTS, beginning of year 46,736,414 79,435,338
CASH AND CASH EQUIVALENTS, end of year 79,964,633 46,736,414
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid during the period for interest 2,610,476 2,034,872
Cash paid during the period for taxes 1,977,958 3,887,905
NONCASH INVESTING AND FINANCING ACTIVITIES    
Change in unrealized losses on securities available for sale 79,542 2,099,309
Acquisition of real estate through foreclosure 864,669 644,540
Financed sales of foreclosed assets $ 898,186 $ 0