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Consolidated Statements of Cash Flows - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 20,995,346 $ 17,950,982
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 2,074,618 1,847,963
Provision for loan/lease losses 4,840,574 4,128,102
Stock-based compensation expense 787,405 557,067
Deferred compensation expense accrued 1,004,010 724,422
Losses on other real estate owned, net 118,159 3,596
Amortization of premiums on securities, net 828,972 1,005,121
Securities gains, net   (38,464)
Loans originated for sale (21,899,515) (32,130,683)
Proceeds on sales of loans 22,071,837 33,807,027
Gains on sales of residential real estate loans (202,587) (208,951)
Gains on sales of government guaranteed portions of loans (358,434) (1,037,694)
Amortization of core deposit intangible 609,102 461,733
Accretion of acquisition fair value adjustments, net (496,561) (3,578,379)
Increase in cash value of bank-owned life insurance (817,260) (929,046)
Increase (decrease) in other assets (5,878,796) 3,412,207
Decrease (increase) in other liabilities 5,688,375 (7,059,305)
Net cash provided by operating activities 29,365,245 18,915,698
CASH FLOWS FROM INVESTING ACTIVITIES    
Net decrease in federal funds sold 19,331,000 3,074,000
Net decrease in interest-bearing deposits at financial institutions 14,963,624 10,777,600
Proceeds from sales of other real estate owned 736,370 487,815
Activity in securities portfolio:    
Purchases (54,950,828) (85,169,891)
Calls, maturities and redemptions 12,618,640 33,079,683
Paydowns 27,187,398 21,606,220
Sales 0 13,554,075
Activity in restricted investment securities:    
Purchases (4,215,275) (2,407,600)
Redemptions 109,200 1,300,700
Net increase in loans/leases originated and held for investment (150,992,827) (146,365,255)
Purchase of premises and equipment (2,666,098) (2,422,880)
Net cash used in investing activities (137,878,796) (152,485,533)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in deposit accounts 31,652,051 201,041,035
Net increase (decrease) in short-term borrowings 3,592,483 (21,753,994)
Activity in Federal Home Loan Bank advances:    
Calls and maturities (10,000,000) (6,000,000)
Net change in short-term and overnight advances 72,100,000 (25,000,000)
Activity in other borrowings:    
Proceeds from other borrowings 9,000,000  
Calls, maturities and scheduled principal payments (3,875,000) (8,000,000)
Payment of cash dividends on common stock (1,526,604) (1,179,146)
Proceeds from issuance of common stock, net 918,361 1,053,300
Net cash provided by financing activities 101,861,291 140,161,195
Net increase in cash and due from banks (6,652,260) 6,591,360
Cash and due from banks, beginning 75,721,663 70,569,993
Cash and due from banks, ending 69,069,403 77,161,353
Supplemental Disclosures of Cash Flow Information, cash payments for:    
Interest 12,303,768 7,876,668
Income/franchise taxes 1,010,097 7,450,738
Supplemental schedule of noncash investing activities:    
Change in accumulated other comprehensive income, unrealized gains on securities available for sale and derivative instruments, net (4,536,161) 1,112,478
Exchange of shares of common stock in connection with payroll taxes for restricted stock and in connection with stock options exercised (194,304) (317,614)
Transfers of loans to other real estate owned 46,244 141,828
Due to broker for purchases of securities   (4,662,631)
Dividends payable 835,881 657,003
Decrease (increase) in the fair value of interest rate swap assets and liabilities 1,774,502 $ (209,185)
Transfer of equity securities from securities available for sale to other assets at fair value $ 2,614,261