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Condensed Consolidated Statements of Income (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Interest Income    
Loans $ 5,928,390 $ 6,403,838
Investment securities 432,629 412,344
Other 58,402 49,740
6,419,421 6,865,922
Interest Expense    
Deposits 761,174 1,142,796
Federal Home Loan Bank advances 368,675 383,734
Subordinated debentures 134,350 139,845
Other 163,955 183,775
1,428,154 1,850,150
Net Interest Income 4,991,267 5,015,772
Provision for Loan Losses 400,000 900,000
Net Interest Income After Provision for Loan Losses 4,591,267 4,115,772
Noninterest Income    
Service charges 261,785 255,090
Gain on sale of investment securities 88,801 37,529
Gain on sale of loans 431,933 362,354
Loss on foreclosed assets (72,345) (101,109)
Other income 309,594 293,148
1,019,768 847,012
Noninterest Expense    
Salaries and employee benefits 2,392,362 2,335,096
Occupancy 426,129 391,474
FDIC deposit insurance premiums 142,463 216,206
Data processing 169,260 132,187
Advertising 106,251 75,000
Other expense 1,189,135 897,545
4,425,600 4,047,508
Income Before Income Taxes 1,185,435 915,276
Provision for Income Taxes 232,782 80,554
Net Income 952,653 834,722
Preferred Stock Dividends and Discount Accretion 198,630 281,391
Net Income Available to Common Shareholders $ 754,023 $ 553,331
Basic Income Per Common Share (in Dollars per share) $ 0.28 $ 0.20
Diluted Income Per Common Share (in Dollars per share) $ 0.25 $ 0.20