5. Consolidated Statement of Cash Flows

On a consolidated basis, cash and cash equivalents include cash and due from depository institutions, interest-bearing deposits and short-term investments in money market funds. The Company made $3,000 in income tax payments in the first three months of 2017 and $438,500 in the same 2016 period. The Company made total interest payments of $2,166,000 in the first three months of 2017 compared to $2,031,000 in the same 2016 period. The Company had $20,000 non-cash transfers to other real estate owned (OREO) in the first three months of 2017 compared to $38,000 non-cash transfers in the same 2016 period.