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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 1,012,761 $ 3,021,814
Items not requiring (providing) cash:    
Deferred income taxes (145,762) (786,131)
Depreciation 660,972 465,587
Provision for loan losses 725,000 1,050,000
Gain on sale of mortgage loans held for sale and investment securities (989,280) (994,422)
Gain on sale of foreclosed assets (141,477) (60,132)
Gain on sale of Small Business Administration Loans (396,241) (255,345)
Amortization of deferred income, premiums and discounts 337,877 398,523
Amortization of intangible assets 220,000
Accretion of purchase accounting adjustments (454,792)
Stock award plan expense 284,470 194,724
Origination of loans held for sale (34,084,892) (30,824,846)
Proceeds from sale of loans held for sale 35,155,111 32,037,565
Increase in cash surrender value of bank owned life insurance (226,011) (232,729)
Changes in:    
Accrued interest receivable (546,328) (113,583)
Prepaid expenses and other assets 5,300,310 (302,583)
Accounts payable and accrued expenses (1,530,909) 456,151
Income taxes receivable (323,051) 619,280
Net cash provided by operating activities 4,857,758 4,673,873
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds on sale of loans 5,273,649 19,683,510
Net change in loans (4,240,878) (90,700,542)
Principal payments on available-for-sale securities 1,139,659 3,655,127
Principal payments on held-to-maturity securities 2,347 6,573
Purchase of premises and equipment (2,294,704) (1,311,938)
Net cash received for acquisition 2,455,964
Purchase of available-for-sale securities (9,788,468) (5,568,959)
Proceeds from sale of available-for-sale securities 6,497,699 10,717,148
Redemption (purchase) of Federal Home Loan Bank stock (193,700) 33,500
Purchase of tax credit investments (452,171) (223,750)
Proceeds from sale of foreclosed assets held for sale 142,193 1,644,191
Net cash used in investing activities (1,458,410) (62,065,140)
CASH FLOWS FROM FINANCING ACTIVITIES    
Cash dividends paid on common stock (1,063,744) (883,131)
Net increase in demand deposits, NOW accounts and savings accounts 1,507,491 38,682,025
Net increase (decrease) in certificates of deposit (5,276,741) 22,968,861
Proceeds from Federal Home Loan Bank advances 336,550,000 149,500,000
Repayments of Federal Home Loan Bank and Federal Reserve advances (342,450,000) (151,400,000)
Proceeds from issuance of notes payable 5,000,000
Repayment of notes payable (3,000,000)
Net decrease of securities sold under agreements to repurchase (2,159,000)
Advances from borrowers for taxes and insurance 380,533 182,418
Stock options exercised 62,430
Net cash provided by (used in) financing activities (10,449,031) 59,050,173
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (7,049,683) 1,658,906
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 37,406,930 9,088,441
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 30,357,247 $ 10,747,347