Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value Measurements [Abstract]

Balance of financial assets and liabilities measured at fair value on a recurring basis

			Fair Value Measurements at June 30, 2012 Using
Description	Balance as of June 30, 2012		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(unaudited)
U. S. Government agencies	$	7,785,696	$	—	$	7,785,696	$	—
State and municipal obligations		26,503,615		—		26,503,615		—
			Fair Value Measurements at December 31, 2011 Using
Description	Balance as of December 31, 2011		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
U. S. Government agencies	$	8,795,066	$	—	$	8,795,066	$	—
State and municipal obligations		33,004,055		—		33,004,055		—

Summary of Company's assets measured at fair value on a nonrecurring basis

			Fair value measurements at June 30, 2012 using
Description	Balance as of June 30, 2012		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(unaudited)
Impaired Loans, net of valuation allowance	$	3,761,833	$	—	$	1,618,409	$	2,143,424
Other real estate owned	$	2,729,966	$	—	$	2,729,966	$	—
			Fair value measurements at December 31, 2011 using
Description	Balance as of December 31,2011		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Impaired Loans, net of valuation allowance	$	4,310,746	$	—	$	2,057,314	$	2,253,432
Other real estate owned	$	2,279,935	$	—	$	2,279,935	$	—

Estimated fair values of financial instruments

			Fair Value Measurements at June 30, 2012 Using
June 30, 2012 (unaudited)	Carrying Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash and due from banks	$	13,963,464	$	13,963,464	$	—	$	—
Interest-bearing deposits		13,170,952		—		13,170,952		—
Federal funds sold		230,295		—		230,295		—
Securities available-for-sale		34,289,311		—		34,289,311		—
Restricted securities		1,675,300		—		1,675,300		—
Loans, net		238,149,621		—		239,720,381		2,143,424
Accrued interest receivable		1,190,789		—		1,190,789		—
Liabilities:
Non-interest-bearing deposits	$	46,056,610	$	—	$	46,056,610	$	—
Savings and other interest-bearing deposits		107,990,005		—		107,990,005		—
Time deposits		114,369,326		—		117,465,510		—
Securities sold under repurchase agreements		9,072,400		—		9,072,400		—
FHLB advances		15,000,000		—		16,599,811		—
Accrued interest payable		159,473		—		159,473		—
			Fair Value Measurements at December 31, 2011 Using
December 31, 2011	Carrying Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash and due from banks	$	4,728,895	$	4,728,895	$	—	$	—
Interest-bearing deposits		10,369,075		—		10,369,075		—
Federal funds sold		2,136,375		—		2,136,375		—
Securities available-for-sale		41,799,121		—		41,799,121		—
Restricted securities		1,991,200		—		1,991,200		—
Loans, net		233,501,821		—		231,681,647		2,253,432
Accrued interest receivable		1,161,191		—		1,161,191		—
Liabilities:
Non-interest-bearing deposits	$	43,803,349	$	—	$	43,803,349	$	—
Savings and other interest-bearing deposits		105,269,889		—		105,269,889		—
Time deposits		116,444,867		—		118,668,679		—
Securities sold under repurchase agreements		5,277,158		—		5,277,158		—
FHLB advances		15,000,000		—		16,651,084		—
Accrued interest payable		168,628		—		168,628		—