As Reported Financial Statements
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As Reported Financials

Source Document Currency Code (in units) 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD
Source Document Currency Code 2014 Y 12/31/2015 USD 2015 Y 12/31/2016 USD 2016 Y 12/31/2017 USD 2017 Y 12/31/2017 USD

Operating Activities

Net income 3,127,784 3,829,278 3,594,448 3,412,742

Items not requiring (providing) cash

Depreciation and amortization 929,049 969,061 961,358 799,222
Credit for loan losses 625,000 NA 0 (600,000)
Deferred income tax expense 106,176 135,835 146,443 153,336
Net (gain) loss on sale of
Foreclosed real estate and repossessed assets (2,017) 20,563 23,105 (548)
Premises and equipment 3,260 0 8,997 47
Loans held for sale (1,194,371) (827,938) (1,083,130) (562,139)
Securities available for sale 25,782 (407,491) 0 6,931
Amortization of RRP 24,084 7,768 25,037 91,294
Originations of loans held for sale (24,569,391) (29,087,373) (32,793,119) (21,374,290)
Proceeds from loans sold 25,781,262 30,040,311 33,767,249 20,981,129

Changes in

Other assets and other liabilities (387,826) (428,561) (3,084,013) 576,487
Accrued interest receivable (1,830) (42,549) (185,295) (85,151)
Accrued expenses and other liabilities (452,100) 225,646 3,333,117 (1,186,380)
Net cash provided by operating activities 4,014,862 4,434,550 4,714,197 2,212,680

Investing Activities

Net change in interest-earning time deposits (1,220,733) (3,399,124) 2,671,875 7,367,982
Purchases of available-for-sale securities (3,904,888) (16,499,592) (24,147,797) (6,924,186)
Purchases of held-to-maturity securities 0 (1,288,000) (677,911) 0

Proceeds from maturities and principal payments of

Available-for-sale securities 10,918,994 13,739,297 17,072,911 9,744,456
Held-to-maturity securities 290,000 177,000 716,714 853,830
Proceeds from the sales of available-for-sale securities 6,112,601 13,108,924 0 5,214,189
Proceeds from FHLB stock redemption 1,526,600 668,800 NA NA
Purchase of FHLB stock NA 0 (269,400) (538,200)
Purchases of loans (3,962,689) (7,569,972) (4,500,000) (6,453,563)
Proceeds from sale of participation loans 4,740,407 1,403,409 3,375,352 1,810,653
Net change in loans (19,386,367) (7,497,657) (13,476,315) (23,260,191)
Proceeds from sale of foreclosed real estate and repossessed assets 441,537 129,017 83,943 221,070
Expenditures for premises and equipment (354,847) (161,486) (1,517,618) (355,985)
Net cash used in investing activities (4,799,385) (7,189,384) (20,668,246) (12,319,945)

Financing Activities

Net change in deposits 4,279,972 (3,627,277) 8,876,339 (6,252,876)
Proceeds from FHLB advances 26,000,000 44,680,000 45,500,000 70,000,000
Repayment of FHLB advances (23,000,000) (34,680,000) (42,000,000) (58,000,000)
Net change in other borrowed funds (1,843,798) (565,474) (195,727) 6,548,605
Dividends paid (965,674) (1,585,591) (1,640,563) (1,712,929)
Purchase of treasury stock (658,518) NA NA NA
Net cash provided by financing activities 3,811,982 4,221,658 10,540,049 10,582,800
Net Change in Cash and Cash Equivalents 3,027,459 1,466,824 (5,414,000) 475,535
Cash and Cash Equivalents, Beginning of Year 7,958,158 10,985,617 12,452,441 7,038,441
Cash and Cash Equivalents, End of Year 10,985,617 12,452,441 7,038,441 7,513,976

Supplemental Cash Flows Information

Interest paid 1,267,804 1,296,503 1,681,041 2,100,286
Income taxes paid 1,175,000 1,330,000 1,275,000 1,165,000

Noncash Transactions

Transfer from loans to other real estate and repossessed assets 45,532 154,010 58,522 152,000
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.
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