Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2014

Summary of Significant Accounting Policies [Abstract]

Cash Flow Information — Supplemental cash flow information addressing certain cash and noncash transactions for each of the nine months ended September 30, 2014 and 2013 was as follows:

	For the nine months ended September 30,
	2014		2013
Cash Transactions:
Interest paid	$	10,186,045	$	12,434,753
Income taxes paid, net		22,150,000		20,850,009
Noncash Transactions:
Loans charged-off to the allowance for loan losses		5,634,327		14,088,656
Loans foreclosed upon and transferred to other real estate owned		1,672,459		3,491,421
Loans foreclosed upon and transferred to other repossessed assets		1,398,823		366,072
Available-for-sale securities transferred to held-to-maturity portfolio		-		39,959,647

Basic and Diluted Earnings Per Share Calculations

The following is a summary of the basic and diluted net income per share calculations for the three and nine months ended September 30, 2014 and 2013:

	For the three months ended September 30				For the nine months ended September 30,
	2014		2013		2014		2013
Basic net income per share calculation:
Numerator - Net income	$	18,196,822	$	14,646,950	$	51,733,929	$	42,405,607

Denominator - Average common shares outstanding		34,762,206		34,282,899		34,688,064		34,148,562
Basic net income per share	$	0.52	$	0.43	$	1.49	$	1.24

Diluted net income per share calculation:
Numerator – Net income	$	18,196,822	$	14,646,950	$	51,733,929	$	42,405,607

Denominator - Average common shares outstanding		34,762,206		34,282,899		34,688,064		34,148,562
Dilutive shares contingently issuable		393,018		323,668		381,700		267,214
Average diluted common shares outstanding		35,155,224		34,606,567		35,069,764		34,415,776
Diluted net income per share	$	0.52	$	0.42	$	1.48	$	1.23