v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating Activities    
Net income $ 9,534,438 $ 8,691,606
Items not requiring (providing) cash    
Depreciation 557,818 550,401
Amortization of core deposit intangible 375,341 397,967
Amortization and (accretion), net (62,166) (166,869)
Provision for credit losses 121,970
Stock compensation expense 159,414
Loss on retirement of debt 603,303
Net gains on sales of foreclosed assets (106,553) (3,550)
Net gains on sales of premises and equipment 27,981
Changes in    
Interest receivable (186,782) 39,155
Other assets 1,399,818 6,625,016
Other liabilities 1,584,824 (4,724,509)
bank owned life insurance (311,643) (308,012)
Interest payable (317,579) 931,944
Net cash provided by operating activities 13,352,203 12,061,130
Investing Activities    
Purchases of available-for-sale securities (16,925,022)
Proceeds from, maturities and calls of available-for-sale securities 875,596 16,419,633
Proceeds from, maturities and calls of held-to-maturity securities 1,285,694 38,703,517
Purchases of held-to-maturity securities (50,434,183)
Net change in loans (19,105,771) 11,722,507
Purchase of premises and equipment, net (237,355) (332,759)
Proceeds from sales of premises and equipment 4,900
Proceeds from sales of foreclosed assets 359,553 270,278
Proceeds from bank owned life insurance 489,907
Redemption of restricted stock, at cost 1,136,200 251,650
Net cash used in investing activities (15,196,176) (319,479)
Financing Activities    
Net (decrease) increase in deposits 76,483,023 (36,390,144)
Proceeds from (repayments of) short-term borrowings (43,183,448) 2,508,539
Repayments of long-term borrowings (6,010,138) (2,582,650)
Repurchase of stock (980,800)
Payment of dividends (1,369,799) (2,002,079)
Purchase of minority interest
Net cash (used in) provided by financing activities 25,919,638 (39,447,134)
(Decrease) increase in cash and cash equivalents 24,075,665 (27,705,483)
Cash and cash equivalents, beginning of period 144,318,929 178,197,916
Cash and cash equivalents, end of period 168,394,594 150,492,433
Supplemental Cash Flows Information    
Interest paid 9,303,080 10,493,792
Income taxes paid
Supplemental Disclosures of Noncash Items    
Unrealized (loss) gain on AFS securities (248,265) 220,288
Transfer of loans to OREO $ 575,497