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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 7,099,405 $ 4,947,003
Items not requiring (providing) cash:    
Deferred income taxes (64,536) 706,286
Depreciation 1,427,906 1,096,490
Lease amortization 41,845
Provision for loan losses 200,000 925,000
Gain on sale of Small Business Administration loans (798,763) (659,996)
Gain on sale of mortgage loans held for sale and investment securities (1,790,595) (1,583,779)
Loss on sale of foreclosed assets 44,159 308,811
Gain on sale of premises and equipment (6,069)
Amortization of deferred income, premiums and discounts 313,686 453,575
Amortization of intangible assets 357,750 314,286
Stock award plan expense 521,323 276,391
Accretion of purchase accounting adjustments (1,281,313) (3,282,074)
Origination of loans held for sale (24,039,578) (52,789,116)
Proceeds from sale of loans held for sale 26,322,296 55,341,150
Increase in cash surrender value of bank owned life insurance (345,651) (342,416)
Changes in:    
Accrued interest receivable (84,805) (953,963)
Prepaid expenses and other assets (2,183,001) 6,203,190
Accounts payable and accrued expenses 1,850,394 (1,441,136)
Income taxes receivable/payable 507,448 (8,972)
Net cash provided by operating activities 8,091,901 9,510,730
CASH FLOWS FROM INVESTING ACTIVITIES    
Proceeds from sale of loans 6,445,267 9,489,176
Net change in loans 28,608,984 (13,591,488)
Principal payments on available-for-sale securities 4,947,415 12,202,207
Principal payments on held-to-maturity securities 11,728 3,735
Purchase of premises and equipment (887,490) (2,581,491)
Net cash received for acquisition 2,455,964
Purchase of available-for-sale securities (56,910,103) (25,151,079)
Proceeds from sale of available-for-sale securities 35,035,814 13,602,508
Purchase of bank owned life insurance (4,000,000)
Redemption (purchase) of FHLB stock 2,229,700 (445,700)
Purchase of tax credit investments (3,168,435) (3,617,366)
Proceeds from sale of foreclosed assets held for sale 507,969 187,468
Net cash provided by (used in) investing activities 12,820,849 (7,446,066)
CASH FLOWS FROM FINANCING ACTIVITIES    
Cash dividends paid (1,744,091) (1,598,016)
Net increase in demand deposits, NOW accounts and savings accounts 104,780,937 69,132,414
Net decrease in certificates of deposit (14,380,120) (76,871,838)
Net decrease of securities sold under agreements to repurchase (2,159,000)
Proceeds from FHLB advances 93,965,000 470,835,000
Repayments of FHLB advances (149,265,000) (470,435,000)
Proceeds from issuance of notes payable 7,200,000 5,000,000
Repayments of notes payable (1,000,000) (3,000,000)
Repayment of Hometown Bancshares subordinated debentures (6,186,000)
Advances from borrowers for taxes and insurance 408,630 550,169
Stock options exercised 72,220 286,467
Treasury stock purchased (2,464,588)
Net cash provided by (used in) financing activities 31,386,988 (8,259,804)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 52,299,738 (6,195,140)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 34,121,642 37,406,930
CASH AND CASH EQUIVALENTS, END OF PERIOD $ 86,421,380 $ 31,211,790