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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 $ 7,331,879 $ 5,157,664 $ 5,594,011
Items not requiring (providing) cash:      
Deferred income taxes 624,386 1,080,452 123,091
Depreciation 1,593,974 1,155,642 845,221
Provision for Loan Losses 1,225,000 1,750,000 1,375,000
Gain on sale of Small Business Administration loans (830,641) (746,639) (297,462)
Gain on sale of mortgage loans held for sale and investment securities (2,022,656) (2,067,537) (1,901,015)
Loss (gain) on sale of equipment and other assets (4,652) 95,863
Loss (gain) on sale of foreclosed assets 315,108 (249,349) (112,576)
Amortization of deferred income, premiums and discounts, net 481,189 840,340 665,361
Stock award plans 517,053 466,469 373,782
Accretion of purchase accounting adjustments (3,407,340)
Origination of loans held for sale (72,116,229) (70,835,359) (63,974,589)
Proceeds from sale of loans held for sale 74,551,946 73,118,381 65,402,367
Increase in cash surrender value of bank owned life insurance (457,451) (467,730) (492,978)
Changes in:      
Accrued interest receivable (941,097) (502,784) 39,629
Prepaid expenses and other assets 6,464,962 1,097,510 563,696
Accrued expenses and other liabilities (1,620,868) 883,209 (75,505)
Income taxes receivable/payable 620,293 (494,295) 341,305
Net cash provided by operating activities 12,324,856 10,281,837 8,469,338
CASH FLOWS FROM INVESTING ACTIVITIES      
Net change in loans (14,645,559) (119,195,775) (51,498,165)
Proceeds from sale of loans receivable 12,997,662 26,781,419
Principal payments received on held-to-maturity securities 4,663 11,071 15,571
Principal payments received on available-for-sale securities 13,358,321 6,649,871 8,884,281
Purchase of available-for-sale securities (26,151,079) (15,975,995) (82,423,495)
Proceeds from sales of available-for-sale securities 13,602,508 20,869,621 76,480,961
Proceeds from maturities of available-for-sale securities 535,000
Purchase of premises and equipment (3,436,389) (3,684,707) (1,175,832)
Net cash received for acquisition 2,455,964
Purchase of tax credit investments (3,930,176) (1,415,156)
Proceeds from sale of premises and equipment 2,425,000 2,697,147
(Purchase) redemption of Federal Home Loan Bank stock (789,700) 13,500 (1,773,500)
Proceeds from sale of foreclosed assets held for sale 292,003 2,448,163 2,922,119
Net cash used in investing activities (3,816,782) (80,800,841) (48,033,060)
CASH FLOWS FROM FINANCING ACTIVITIES      
Net increase (decrease) in demand deposits, NOW accounts and savings accounts (40,855,842) 584,224,702 (8,163,633)
Net increase (decrease) in certificates of deposit 22,077,932 43,576,898 (3,859,312)
Repayment of securities sold under agreements to repurchase (2,159,000)
Proceeds from FHLB and Federal Reserve advances 609,971,000 761,600,000 223,099,999
Repayments of FHLB and Federal Reserve advances (600,971,000) (763,000,000) (179,499,999)
Proceeds from notes payable 5,000,000
Repayments of notes payable (3,000,000)
Advances from (repayments to) borrowers for taxes and insurance 109,539 (12,191) 1,607
Proceeds from stock options exercised 166,230 15,570 85,800
Cash dividends paid on common stock (2,132,221) (1,767,486) (1,415,180)
Treasury stock purchased (371,538)
Net cash provided by (used in) financing activities (11,793,362) 98,837,493 29,877,744
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (3,285,288) 28,318,489 (9,685,978)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 37,406,930 9,088,441 18,774,419
CASH AND CASH EQUIVALENTS, END OF YEAR 34,121,642 37,406,930 9,088,441
Supplemental Cash Flows Information      
Real estate acquired in settlement of loans 368,878 1,209,279 3,228,589
Interest paid 9,401,351 5,998,844 4,165,281
Income taxes paid, net of (refunds) 1,138,000 724,000
Sale and financing of foreclosed assets held for sale $ 181,300 $ 1,588,921 $ 149,920