v3.26.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Operating Activities    
Net income $ 19,750,104 $ 17,591,198
Items not requiring (providing) cash    
Depreciation 1,119,861 960,810
Amortization of core deposit intangible 754,852 790,197
Securities amortization and (accretion), net (60,664) (979,895)
Provision for credit losses 521,259
Stock compensation expense 307,144
Provision for losses on foreclosed assets 4,500
Net realized gains losses on foreclosed assets (106,553) (3,550)
Net gains on sales of premises and equipment (30,000) (4,459)
Changes in    
Interest receivable 322,190 103,315
Other assets 75,752 7,507,216
Other liabilities 1,824,703 (6,028,395)
Increase in bank owned life insurance (626,549) (597,043)
Deferred income taxes (58,318) (56,728)
Interest payable (386,764) 320,745
Net cash provided by operating activities 23,407,017 19,607,911
Investing Activities    
Purchases of available-for-sale securities (15,038,672) (16,929,788)
Proceeds from sales, maturities and calls of available-for-sale securities 19,707,085 35,479,367
Proceeds from, maturities and calls of held-to-maturity securities 18,289,894 44,421,401
Purchases of held-to-maturity securities (14,986,523) (72,891,789)
Net change in loans (67,473,177) 14,977,938
Purchase of premises and equipment, net (1,499,287) (1,049,005)
Proceeds from sales of premises and equipment 30,000 43,900
Proceeds from sales of foreclosed assets 359,554 255,064
Payments relating to foreclosed assets (180,000)
Proceeds from bank owned life insurance 655,645
(Purchase) redemption of restricted stock, at cost (1,152,900) 156,590
Net cash (used in) provided by investing activities (61,288,381) 4,463,678
Financing Activities    
Net increase (decrease) in deposits 57,438,209 (87,349,052)
Proceeds from short-term borrowings 14,318,598 42,908,594
Proceeds from long-term borrowings 5,901,100
Repayments of long-term borrowings (11,241,238) (3,563,814)
Repurchase of stock (980,800)
Payment of dividends (2,739,928) (2,002,079)
Net cash provided by (used in) financing activities 63,676,741 (50,987,151)
Increase (decrease) in cash and cash equivalents 25,795,377 (26,915,562)
Cash and cash equivalents, beginning of period 144,318,929 178,197,916
Cash and cash equivalents, end of period 170,114,306 151,282,354
Supplemental Cash Flows Information    
Interest paid 18,011,243 21,905,064
Income taxes paid 4,310,000 4,500,000
Supplemental Disclosures of Noncash Items    
Unrealized gain(loss) on AFS securities (147,525) 381,312
Transfer of loans to OREO $ 575,497 $ 286,146