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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 11,670,286 $ 4,977,007
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 2,943,067 1,776,958
Provision for loan losses 1,607,074 340,482
Stock option compensation expense 327,468 96,780
Loss (gains) from redemption and sale of securities 1,200 (143,508)
Accretion on purchased credit impaired loans (3,776,000) (2,731,000)
Net gains from sale of loans and other assets (1,140,027) (910,250)
Net losses from sale of foreclosed assets 434,299 42,314
Changes in other assets and liabilities:    
Accrued interest receivable (677,883) (38,985)
Accrued interest payable 227,650 38,172
Other assets and liabilities 5,026,836 2,427,408
Net cash provided by operating activities 16,643,970 5,875,378
CASH FLOWS FROM INVESTING ACTIVITIES, net of acquisitions    
Proceeds from sales, maturities, and paydowns of securities available-for-sale 41,545,210 27,070,170
Purchase of securities (41,803,759) (12,507,860)
Purchase of bank owned life insurance 0 (10,000,000)
Purchase of restricted investments (3,840,550) (452,750)
Net cash and cash equivalents received (paid) in business combination 5,653,304 (1,049,878)
Loan originations and principal collections, net (79,703,914) (31,226,948)
Purchase of bank premises and equipment (1,885,093) (1,693,323)
Proceeds from sale of foreclosed assets 3,446,448 41,636
Net cash used in investing activities (76,588,354) (29,818,953)
CASH FLOWS FROM FINANCING ACTIVITIES, net of acquisitions    
Net increase in deposits 65,879,196 26,234,084
Net decrease in securities sold under agreements to repurchase (7,268,238) (80,212)
Issuance of common stock 1,528,306 37,840,224
Redemption of preferred stock 0 (12,000,000)
Payment of dividends on preferred stock 0 (195,000)
Net proceeds from subordinated debt 39,158,444 0
Proceeds from Federal Home Loan Bank advances and other borrowings 160,700,028 95,804,205
Repayment of Federal Home Loan Bank advances and other borrowings (182,976,028) (108,309,595)
Net cash provided by financing activities 77,021,708 39,293,706
NET INCREASE IN CASH AND CASH EQUIVALENTS 17,077,324 15,350,131
CASH AND CASH EQUIVALENTS, beginning of year 113,026,884 68,748,308
CASH AND CASH EQUIVALENTS, end of period 130,104,208 84,098,439
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION    
Cash paid during the period for interest 10,002,650 3,742,255
Cash paid during the period for income taxes 726,000 2,795,584
NONCASH INVESTING AND FINANCING ACTIVITIES    
Change in unrealized losses on securities available for sale 3,254,676 (1,018,370)
Acquisition of real estate through foreclosure 3,150,763 585,267
Transfer from Bank premises to foreclosed assets 1,289,102 0
Financed sales of foreclosed assets 257,416 0
Change in goodwill due to acquisition $ 15,790,958 $ 0