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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Dec. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES          
Net income $ 6,488,987 $ 4,062,665 $ 10,143,058 $ 11,959,716  
Adjustments to reconcile net income to net cash provided by operating activities:          
Depreciation     2,283,558 2,092,992  
Provision for loan/lease losses 1,635,263 1,063,323 5,694,384 3,159,364  
Stock-based compensation expense     758,493 703,274  
Deferred compensation expense accrued     767,292 996,941  
Losses (gains) on other real estate owned, net (1,134,093) (30,596) (1,204,016) 114,109  
Amortization of premiums on securities, net     756,876 1,470,641  
Securities gains, net     (473,513) (40,625)  
Loans originated for sale     (29,968,289) (32,643,486)  
Proceeds on sales of loans     31,154,335 33,537,484  
Gains on sales of residential real estate loans (84,609) (120,627) (266,284) (317,085)  
Gains on sales of government guaranteed portions of loans (759,668) (158,736) (899,987) (860,923)  
Losses on debt extinguishment     6,894,185    
Amortization of core deposit intangible     149,634 149,634  
Accretion of acquisition fair value adjustments, net     (334,990) (549,604)  
Increase in cash value of bank-owned life insurance     (1,318,909) (1,276,901)  
Increase in other assets     (5,211,555) (346,977)  
Increase in other liabilities     4,269,482 712,565  
Net cash provided by operating activities     23,193,754 18,861,119  
CASH FLOWS FROM INVESTING ACTIVITIES          
Net decrease in federal funds sold     12,450,000 9,675,000  
Net decrease (increase) in interest-bearing deposits at financial institutions     3,059,051 (1,586,856)  
Proceeds from sales of other real estate owned     6,774,151 1,172,365  
Purchase of derivative instruments       (2,071,650)  
Activity in securities portfolio:          
Purchases     (200,249,686) (48,493,532)  
Calls, maturities and redemptions     187,029,003 30,827,423  
Paydowns     11,859,406 19,147,455  
Sales     65,889,838 65,754,467  
Activity in restricted investment securities:          
Purchases     (2,806,650) (1,653,450)  
Redemptions     3,435,200 3,377,900  
Net increase in loans/leases originated and held for investment     (129,356,790) (115,589,620)  
Purchase of premises and equipment     (4,327,671) (1,587,828)  
Net cash used in investing activities     (46,244,148) (41,028,326)  
CASH FLOWS FROM FINANCING ACTIVITIES          
Net increase in deposit accounts     175,656,866 66,893,213  
Net increase (decrease) in short-term borrowings     (100,787,458) 12,893,731  
Activity in Federal Home Loan Bank advances:          
Term advances     5,000,000 2,000,000  
Calls and maturities     (24,000,000) (23,850,000)  
Net change in short-term and overnight advances     24,000,000 (13,000,000)  
Prepayments     (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     (782,054) (1,964,607)  
Net cash provided by financing activities     25,868,616 22,542,594  
Net increase in cash and due from banks     2,818,222 375,387  
Cash and due from banks, beginning     38,235,019 41,950,790 $ 41,950,790
Cash and due from banks, ending $ 41,053,241 $ 42,326,177 41,053,241 42,326,177 $ 38,235,019
Supplemental disclosure of cash flow information, cash payments for:          
Interest     10,880,589 12,445,044  
Income/franchise taxes     1,985,275 3,457,500  
Supplemental schedule of noncash investing activities:          
Change in accumulated other comprehensive income, unrealized gains on securities available for sale and derivative instruments, net     2,098,427 8,894,623  
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)  
Tax benefit of nonqualified stock options exercised     71,110 25,120  
Transfers of loans to other real estate owned     942,782 2,237,268  
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     $ 1,016,324 394,179  
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)