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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Cash flows from operating activities    
Interest received $ 18,648,337 $ 17,714,259
Fees and commissions received 1,455,827 1,044,262
Interest paid (3,645,228) (2,376,372)
Proceeds from sale of mortgage loans held for sale 20,046,955 13,093,197
Origination of mortgage loans held for sale (19,715,317) (13,339,135)
Cash paid to suppliers and employees (10,019,091) (9,372,508)
Income taxes paid (1,055,967) (1,399,920)
Cash provided by operating activities 5,715,516 5,363,783
Cash flows from investing activities    
Available for sale (8,507,098) (4,943,748)
Held to maturity 1,101,420 223,000
Available for sale (17,761,884) (4,007,664)
Held to maturity (2,457,087) (122,313)
Loans made to customers, net of principal collected (19,952,309) (11,427,440)
Proceeds from sale of SBA loans 1,582,364 2,883,963
Redemption of stock in FHLB of Atlanta 199,600 487,800
Purchases of premises and equipment (256,561) (191,744)
Cash used by investing activities (29,037,359) (7,210,650)
Cash flows from financing activities    
Net increase (decrease) in Noninterest-bearing deposits (2,058,505) (1,685,613)
Interest-bearing deposits 23,958,816 36,602,192
Securities sold under repurchase agreements (53,882) (10,756,507)
Federal Home Loan Bank of Atlanta advances (3,000,000) (14,000,000)
Dividends paid, net of reinvestments (1,021,471) (933,903)
Common stock issued 1,550
Cash provided by financing activities 17,824,958 9,227,719
Net increase (decrease) in cash and cash equivalents (5,496,885) 7,380,852
Cash and cash equivalents at beginning of period 14,618,237 7,237,385
Cash and cash equivalents at end of period 9,121,352 14,618,237
Reconciliation of net income to net cash provided by operating activities    
Net income 4,560,804 4,712,676
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 344,171 380,461
Provision for loan losses 40,000 475,000
Lease expense in excess of rent paid 40,912
Write down of other real estate owned 210,150 55,350
Write down of other assets 4,500
Equity security dividends reinvested (12,262) (11,375)
Unrealized (gain) loss on equity security (16,232) 11,429
Gain on sale of SBA loans (139,535) (226,026)
Deferred income taxes (53,841) (111,360)
Amortization of premiums and accretion of discounts, net 130,575 123,253
Increase (decrease) in    
Deferred loan fees (12,728) (72,426)
Accrued interest payable 34,725 130,869
Other liabilities 557,902 366,692
Decrease (increase) in    
Mortgage loans held for sale 331,638 (245,938)
Accrued interest receivable (29,011) 29,727
Bank owned life insurance cash surrender value (92,123) (161,764)
Other assets (179,629) (97,285)
Cash provided by operating activities $ 5,715,516 $ 5,363,783