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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Interest income:    
Loans, including fees $ 4,319,809 $ 4,759,385
Securities    
Taxable 359,132 324,809
Nontaxable 107,453 45,944
Interest bearing deposits and other 19,207 45,469
Interest Income 4,805,601 5,175,607
Interest expense:    
Deposits 913,942 1,215,498
Borrowed funds 192,109 390,615
Interest expense 1,106,051 1,606,113
Net interest income 3,699,550 3,569,494
Provision for loan losses 150,000 300,000
Net interest income after provision for loan losses 3,549,550 3,269,494
Noninterest income:    
Fees and service charges 1,042,578 1,149,944
Gain on sale of loans 224,577 116,059
Other income 360,316 371,996
Total noninterest income 1,627,471 1,637,999
Noninterest expense:    
Compensation and employee benefits 2,019,555 1,790,030
Premises and equipment 437,399 495,766
Data processing 256,122 189,950
FDIC insurance expense 89,390 143,811
Foreclosed real estate impairment 30,789 71,538
Other expenses 1,856,898 1,264,077
Total noninterest expense 4,690,153 3,955,172
Income from continuing operations before income taxes 486,868 952,321
Provision for income taxes 405,408 282,200
Income from continuing operations 81,460 670,121
Income from operations of discontinued subsidiary, net of income tax 45,075 20,111
Net income 126,535 690,232
Preferred stock dividends and accretion of discount 0 132,354
Net income available to common stockholders $ 126,535 $ 557,878
Basic earnings per share:    
Income from continuing operations (in dollars per share) $ 0.06 $ 0.40
Income from operations of discontinued subsidiary (in dollars per share) $ 0.03 $ 0.01
Net income applicable to common stock (in dollars per share) $ 0.09 $ 0.41
Dilluted earnings per share:    
Income from continuing operations (in dollars per share) $ 0.06 $ 0.40
Income from operations of discontinued subsidiary (in dollars per share) $ 0.03 $ 0.01
Net income applicable to common stock (in dollars per share) $ 0.09 $ 0.41
Dividends declared per common share (in dollars per share) $ 0.06 $ 0.01