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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 18,850,063 $ 17,194,169
Adjustments to reconcile net income to net cash provided by operating activities:    
Provision for loan losses 5,680,656 1,314,104
Provision for off-balance sheet commitments 51,000 17,000
Amortization of securities available-for-sale, loans and deposits, net 983,296 1,066,378
Amortization of Intangible Assets, Total 826,020 609,624
Depreciation 1,445,509 1,235,378
Provision (credit) for deferred income taxes (1,087,046) (32,250)
Securities gains, net (429,925) (17,031)
Gain on sales of loans held for sale (2,111,893) (1,044,798)
Proceeds from the sales of loans held for sale 95,272,224 51,213,713
Originations of loans held for sale (92,004,347) (52,544,413)
(Gain) on sale and foreclosure of other real estate owned, net (21,617) (44,433)
Loss on sale and disposal of bank premises and equipment, net 106,142 9,360
Amortization of investment in new markets tax credit projects 638,851 581,563
Change in assets and liabilities:    
Decrease in accrued income receivable 645,512 514,915
(Increase) decrease in other assets 408,345 (784,589)
Increase in accrued expenses and other liabilities 459,001 891,022
Net cash provided by operating activities 29,711,791 20,179,712
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchase of securities available-for-sale (238,174,382) (82,387,547)
Proceeds from sale of securities available-for-sale 5,462,657 8,211,157
Proceeds from maturities and calls of securities available-for-sale 129,702,317 98,514,145
Net decrease in federal funds sold 0 2,792,000
Purchase of FHLB stock (1,148,900) (4,060,600)
Proceeds from the redemption of FHLB stock 1,134,300 4,477,200
Net (increase) in interest-bearing deposits in financial institutions (57,756,377) (61,855,282)
Net (increase) in loans (86,302,370) (23,459,602)
Net proceeds from the sale of other real estate owned 3,818,183 833,721
Proceeds from the sale of bank premises and equipment 0 4,000
Purchase of bank premises and equipment (1,248,831) (780,440)
Proceeds from sale of bank-owned life insurance 0 2,501,521
Purchase of investment in new market tax credit projects (446,856) (4,536,378)
Cash paid net of cash received for acquired bank (309,875) (19,143,271)
Other (73,002) (71,565)
Net cash (used in) investing activities (245,343,136) (78,960,941)
CASH FLOWS FROM FINANCING ACTIVITIES    
Increase in deposits 223,638,021 83,595,584
(Decrease) in securities sold under agreements to repurchase (4,740,551) (387,936)
Proceeds from short-term borrowings 0 3,000,000
Payments on FHLB and other borrowings (2,000,000) (12,600,000)
Dividends paid (9,071,981) (8,784,906)
Stock repurchases (1,992,405) (1,808,699)
Net cash provided by financing activities 205,833,084 63,014,043
Net increase (decrease) in cash and due from banks (9,798,261) 4,232,814
CASH AND DUE FROM BANKS    
Beginning 34,616,880 30,384,066
Ending 24,818,619 34,616,880
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION    
Interest 8,798,822 10,550,529
Income taxes 5,499,334 3,958,213
SUPPLEMENTAL DISCLOSURE OF NONCASH INVESTING ACTIVITIES    
Transfer of loans to other real estate owned 10,738 381,600
Business Combination:    
Goodwill 12,424,434 12,114,559
Iowa State Savings Bank [Member]    
Business Combination:    
Fair value of interest bearing deposits in financial institutions acquired 0  
Fair value of federal funds sold acquired 0  
Fair value of securities available-for-sale acquired 0  
Fair value of FHLB stock at cost 0  
Fair value of loans receivable acquired 0  
Fair value of bank premises and equipment acquired 0  
Fair value of accrued interest receivable acquired 0  
Fair value of other real estate owned acquired 0  
Fair value of other tangible assets acquired 0  
Fair value of bank-owned life insurance acquired 0  
Goodwill 309,875  
Core deposit intangible acquired 0  
Deposits assumed 0  
Securities sold under agreement to repurchase assumed 0  
Other liabilities assumed $ 0  
Acquisition of Clarke County State Bank [Member]    
Business Combination:    
Fair value of interest bearing deposits in financial institutions acquired   21,034,829
Fair value of federal funds sold acquired   2,792,000
Fair value of securities available-for-sale acquired   33,615,135
Fair value of FHLB stock at cost   364,300
Fair value of loans receivable acquired   137,776,266
Fair value of bank premises and equipment acquired   2,452,021
Fair value of accrued interest receivable acquired   2,887,754
Fair value of other real estate owned acquired   3,581,769
Fair value of other tangible assets acquired   203,866
Fair value of bank-owned life insurance acquired   2,498,940
Goodwill   2,370,087
Core deposit intangible acquired   1,891,000
Deposits assumed   188,631,294
Securities sold under agreement to repurchase assumed   1,747,020
Other liabilities assumed   $ 1,946,382