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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
Cash Flows from Operating Activities:    
Net income $ 1,267,260 $ 978,000
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization (accretion) of investment premiums and discounts, net 35,000 107,000
Amortization and accretion of purchase loan premiums and discounts, net 8,000 158,000
Provision for Loan Losses 250,000
Depreciation and amortization 616,000 499,000
Share-based compensation 308,000 227,000
Deferred income taxes 646,000 619,000
Gain on acquisition of OREO (11,000)
Changes in assets and liabilities:    
(Increase) decrease in net deferred loan costs (8,000) 232,000
Increase in accrued interest and dividends receivable (110,000) (116,000)
Increase in other assets (341,000) (44,000)
Increase in accrued expenses and other liabilities 231,000 514,000
Net cash provided by operating activities 2,641,000 3,424,000
Cash Flows from Investing Activities:    
Principal repayments on available for sale securities 1,389,000 2,157,000
Proceeds from call of available for sale securities 5,031,000
(Purchases) redemptions of Federal Reserve Bank stock (48,000) 38,000
Redemptions of Federal Home Loan Bank stock 711,000
Increase in loans (45,117,000) (17,361,000)
Purchase of bank premises and equipment, net (1,167,000) (2,845,000)
Net cash used in investing activities (39,201,000) (18,011,000)
Cash Flows from Financing Activities:    
Net increase in deposits 1,656,000 14,340,000
Decrease in FHLB borrowings (4,000,000) (20,000,000)
Repayment of Note Payable (93,000)
Increase in advances from borrowers for taxes and insurance 84,000 82,000
Net cash used in financing activities (2,353,000) (5,578,000)
Net decrease in cash and cash equivalents (38,913,000) (20,165,000)
Beginning 85,400,000 73,258,000
Ending 46,487,000 53,093,000
Interest paid 1,173,000 1,144,000
Income taxes paid 3,000
Transfer of loans to other real estate owned $ 840,000