Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Income Taxes [Abstract]

Expense (benefit) for income taxes

The expense (benefit) for income taxes consisted of the following for the years ended December 31:

	2012			2011
Current	$	253,421		$	16,952
Deferred		(42,949	)		(40,953	)
	$	210,472		$	(24,001	)

Summary of reasons for differences between statutory Federal income tax rates and effective tax rates

The reasons for the differences between the statutory Federal income tax rates and the effective tax rates are summarized as follows:

	2012			2011
Statutory rates		34.0	%		34.0	%
Increase (decrease) resulting from:
Effect of tax-exempt income		(37.7	%)		(44.0	%)
Other, net		60.9	%		2.6	%
		23.2	%		(7.4	%)

Components of the net deferred tax assets and liabilities

The components of the net deferred tax assets and liabilities included in other liabilities are as follows:

December 31,	2012			2011
Deferred tax assets
Allowance for loan losses	$	747,792		$	886,064
Interest on non-accrual loans		120,356			99,690
Other real estate		236,610			167,774
Pension plan		3,276			—
Post retirement benefits		258,231			230,050
Deferred compensation		84,879			71,731
Stock-based compensation		10,215			13,977
Alternative minimum tax credit		174,997			147,180
Net operating loss carryforward		—			111,774
Other		272,942			137,540
Total deferred tax assets		1,909,298			1,865,780
Deferred tax liabilities
Unrealized gains on available-for-sale securities		(143,828	)		(391,891	)
Pension plan		—			(148,550	)
Depreciation		(305,010	)		(360,836	)
Amortization of intangible		(860,950	)		(784,375	)
Net deferred loan fees and costs		(238,732	)		(267,157	)
Other		(63,591	)		(76,412	)
Total deferred tax (liabilities)		(1,612,111	)		(2,029,221	)
Net deferred tax assets (liabilities)	$	297,187		$	(163,441	)