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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 10,638,142 $ 6,832,214 $ 9,415,090
Items not requiring (providing) cash:      
Deferred income taxes 906,305 (470,145) 224,142
Depreciation and amortization 1,920,725 1,989,545 1,970,442
Provision for Loan Losses 800,000 3,600,000 200,000
Gain on sale of Small Business Administration loans (1,948,027) (618,506) (1,029,949)
Loss on early termination of interest rate swap 2,580,000 0 0
Gain on sale of mortgage loans held for sale and investment securities (6,772,038) (4,163,127) (2,312,097)
Loss (gain) on sale of foreclosed assets 110,161 (51,836) (164,636)
Gain on sale of premises, equipment and other assets 0 0 (6,069)
Amortization of deferred income, premiums and discounts, net (815,678) 1,707,861 349,442
Amortization of intangible assets 477,000 477,000 477,000
Amortization of subordinated notes issuance costs 45,445 18,576 0
Stock award plan expense 485,322 136,138 615,385
Accretion of purchase accounting adjustments (110,620) (406,650) (1,629,721)
Origination of loans held for sale (146,857,645) (147,179,016) (80,689,007)
Proceeds from sale of loans held for sale 159,003,482 142,308,504 81,641,824
Increase in cash surrender value of bank owned life insurance (629,844) (596,342) (500,364)
Changes in:      
Accrued interest receivable 478,960 (548,920) (120,931)
Prepaid expenses and other assets 997,963 1,121,052 (1,302,099)
Accounts payable and accrued expenses (2,231,813) 466,607 1,188,354
Net cash provided by operating activities 19,077,840 4,622,955 8,326,806
CASH FLOWS FROM INVESTING ACTIVITIES      
Net change in loans (81,258,349) (30,441,139) 49,550,984
Proceeds from sale of loans 14,072,770 5,425,103 9,317,249
Principal payments on available-for-sale securities 20,038,802 23,111,582 7,576,466
Proceeds from maturities of available-for-sale securities 13,881,080 11,617,890 750,000
Purchase of premises and equipment (769,037) (684,789) (981,146)
Purchase of available-for-sale securities (77,446,328) (108,674,561) (75,518,385)
Proceeds from sale of available-for-sale securities 54,289,807 27,430,799 37,855,257
Purchase of bank owned life insurance (6,000,000) 0 (4,000,000)
Proceeds from maturities of interest-bearing deposits 4,510,000 0 0
Redemption (purchase) of FHLB stock 1,808,800 (139,400) 1,629,700
Purchase of tax credit investments (420,140) (256,260) (3,168,435)
Capitalized costs on foreclosed assets held for sale (91,034) 0 0
Proceeds from sale of foreclosed assets held for sale 665,563 181,905 1,343,072
Net cash provided by (used in) investing activities (56,718,066) (72,428,870) 24,354,762
CASH FLOWS FROM FINANCING ACTIVITIES      
Net increase in demand deposits, NOW accounts and savings accounts 117,746,480 139,296,873 97,367,801
Net decrease in certificates of deposit (40,100,266) (22,030,864) (25,548,954)
Proceeds from FHLB advances 100,000,000 26,000,000 115,815,000
Repayments of FHLB advances (150,000,000) (25,000,000) (156,115,000)
Proceeds from issuance of notes payable 0 1,800,000 7,450,000
Repayments of notes payable 0 (13,000,000) (1,250,000)
Isuance of subordinated notes, net of issuance costs 0 19,545,555 0
Repayment of Hometown Bancshares subordinated debentures (5,155,000) 0 0
Advances from (repayments to) borrowers for taxes and insurance 59 (49,354) (21,608)
Stock options exercised 0 0 90,000
Cash dividends paid (2,627,916) (2,615,028) (2,313,661)
Treasury stock purchased 0 (390,268) (3,604,879)
Net cash provided by financing activities 19,863,357 123,556,914 25,868,699
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (17,776,869) 55,750,999 58,550,267
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD 148,422,908 92,671,909 34,121,642
CASH AND CASH EQUIVALENTS, END OF PERIOD 130,646,039 148,422,908 92,671,909
Supplemental Cash Flows Information      
Foreclosed assets acquired in settlement of loans 238,240 124,134 1,664,258
Interest paid 6,988,167 9,472,775 13,563,079
Income taxes paid 475,000 840,000 199,000
Sale and financing of foreclosed assets held for sale 0 439,500 620,900
Hometown Bancshares, Inc. [Member]      
CASH FLOWS FROM FINANCING ACTIVITIES      
Repayment of Hometown Bancshares subordinated debentures $ 0 $ 0 $ (6,000,000)