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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2015
Mar. 31, 2015
Jun. 30, 2014
Mar. 31, 2014
Jun. 30, 2015
Jun. 30, 2014
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES              
Net income $ (523,818) $ 4,177,889 $ 4,007,836 $ 3,889,215 $ 3,654,071 $ 7,897,051  
Adjustments to reconcile net income to net cash provided by operating activities:              
Depreciation         1,520,380 1,390,389  
Provision for loan/lease losses 2,348,665   1,001,879   4,059,121 2,096,041  
Stock-based compensation expense         554,526 527,017  
Deferred compensation expense accrued         767,292 684,984  
Losses (gains) on other real estate owned, net (98,876)   126,657   (69,923) 144,705  
Amortization of premiums on securities, net         485,085 1,002,893  
Securities gains, net         (416,933) (21,196)  
Loans originated for sale         (15,205,967) (22,215,215)  
Proceeds on sales of loans         14,532,761 23,169,975  
Gains on sales of residential real estate loans (95,535)   (132,971)   (181,675) (196,458)  
Gains on sales of government guaranteed portions of loans (69,346)   (508,168)   (140,319) (702,187)  
Losses on debt extinguishment 6,894,185       6,894,185    
Amortization of core deposit intangible         99,756 99,756  
Accretion of acquisition fair value adjustments, net         (267,414) (304,876)  
Increase in cash value of bank-owned life insurance         (911,891) (842,836)  
Increase in other assets         (4,862,896) (1,622,537)  
Decrease in other liabilities         (1,658,735) (3,791,845)  
Net cash provided by operating activities         8,851,424 7,315,661  
CASH FLOWS FROM INVESTING ACTIVITIES              
Net decrease in federal funds sold         24,225,000 18,945,000  
Net increase in interest-bearing deposits at financial institutions         (12,348,141) (3,741,132)  
Proceeds from sales of other real estate owned         1,723,317 771,902  
Purchase of derivative instruments           (2,071,650)  
Activity in securities portfolio:              
Purchases         (181,272,218) (36,089,884)  
Calls, maturities and redemptions         177,366,721 27,756,298  
Paydowns         8,003,250 12,563,485  
Sales         54,966,923 25,877,578  
Activity in restricted investment securities:              
Purchases         (1,338,650) (839,500)  
Redemptions         3,431,700 1,520,000  
Net increase in loans/leases originated and held for investment         (85,814,353) (91,280,287)  
Purchase of premises and equipment         (3,927,981) (1,197,014)  
Net cash used in investing activities         (14,984,432) (47,785,204)  
CASH FLOWS FROM FINANCING ACTIVITIES              
Net increase in deposit accounts         157,102,985 30,392,132  
Net increase (decrease) in short-term borrowings         (99,776,818) 55,028,887  
Activity in Federal Home Loan Bank advances:              
Term advances         5,000,000    
Calls and maturities         (22,000,000) (20,350,000)  
Net change in short-term and overnight advances         21,500,000 11,900,000  
Prepayments (75,500,000)       (81,192,185)    
Activity in other borrowings:              
Proceeds from other borrowings           10,000,000  
Calls, maturities and scheduled principal payments         (7,350,000)    
Prepayments         (29,177,000) (1,000,000)  
Payment of cash dividends on common and preferred stock         (315,954) (1,649,555)  
Net cash provided by financing activities         7,892,807 54,811,330  
Net increase in cash and due from banks         1,759,799 14,341,787  
Cash and due from banks, beginning   $ 38,235,019   $ 41,950,790 38,235,019 41,950,790 $ 41,950,790
Cash and due from banks, ending $ 39,994,818   $ 56,292,577   39,994,818 56,292,577 $ 38,235,019
Supplemental disclosure of cash flow information, cash payments for:              
Interest         7,903,945 8,376,272  
Income/franchise taxes         1,940,275 3,057,500  
Supplemental schedule of noncash investing activities:              
Change in accumulated other comprehensive income (loss), unrealized gains (losses) on securities available for sale and derivative instruments, net         (158,056) 9,706,798  
Exchange of shares of common stock in connection with payroll taxes for restricted stock and in connection with stock options exercised         (68,706) (177,984)  
Transfers of loans to other real estate owned         837,782 2,138,768  
Common Stock Offering 1 [Member]              
Activity in other borrowings:              
Proceeds from issuance of common stock, net         63,484,123    
Common Stock Offering 2 [Member]              
Activity in other borrowings:              
Proceeds from issuance of common stock, net         $ 617,656 313,788  
Series F Noncumulative Perpetual Preferred Stock One [Member]              
Activity in other borrowings:              
Redemption of Cumulative Perpetual Preferred Stock, net           (15,000,000)  
Series F Noncumulative Perpetual Preferred Stock Two [Member]              
Activity in other borrowings:              
Redemption of Cumulative Perpetual Preferred Stock, net           $ (14,823,922)