INCOME TAXES

3 Months Ended

Mar. 31, 2012

INCOME TAXES [Abstract]

INCOME TAXES

8.           INCOME TAXES

Total income tax expense differed from the amounts computed by applying the U.S. federal income tax rate of 34% to income before income taxes as a result of the following:

	Three Months Ended March 31,
	2012						2011
				Percent						Percent
				of Pretax						of Pretax
	Amount			Income			Amount			Income
Income from continuing operations before income taxes	$	165,535			34.0	%	$	323,789			34.0	%
Nontaxable income		(57,179	)		(11.7	)		(37,967	)		(4.0	)
Nondeductible merger expenses		289,975			59.6			-			-
State income tax, net of
federal income tax benefit		37,332			7.7			22,301			2.3
Low income housing tax credits		(59,303	)		(12.2	)		(56,350	)		(5.9	)
Other		29,048			5.9			30,427			3.2
Income tax expense	$	405,408			83.3	%	$	282,200			29.6	%