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CONSOLIDATED STATEMENTS OF INCOME AND RETAINED EARNINGS (Unaudited) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
Jun. 30, 2010
INTEREST INCOME $ 24,087,808 $ 21,809,562 $ 48,491,281 $ 43,971,489
INTEREST EXPENSE 2,969,470 3,133,926 5,912,790 6,422,373
NET INTEREST INCOME 24,087,808 21,809,562 48,491,281 43,971,489
Provision for Loan Losses 3,546,018 4,666,450 8,103,988 10,269,834
NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 20,541,790 17,143,112 40,387,293 33,701,655
NET INSURANCE INCOME        
Premiums and Commissions 9,463,671 8,765,795 18,891,057 17,699,576
Insurance Claims and Expenses 2,285,117 2,080,464 4,250,690 4,024,461
Net Insurance Income 7,178,554 6,685,331 14,640,367 13,675,115
OTHER REVENUE 1,753,219 1,434,118 2,956,155 2,411,369
OTHER OPERATING EXPENSES        
Personnel Expense 13,403,315 11,845,311 26,637,576 24,572,431
Occupancy Expense 2,799,435 2,612,433 5,563,368 5,292,330
Other 5,502,112 4,440,360 10,073,384 8,885,618
Other Operating Expenses, Total 21,704,862 18,898,104 42,274,328 38,750,379
INCOME BEFORE INCOME TAXES 7,768,701 6,364,457 15,709,487 11,037,760
Provision for Income Taxes 627,878 596,667 1,280,639 1,195,664
NET INCOME 7,140,823 5,767,790 14,428,848 9,842,096
RETAINED EARNINGS 136,909,704 118,945,113 130,990,179 115,248,067
Distributions on Common Stock 3,855,298 2,151,705 5,223,798 2,528,965
RETAINED EARNINGS $ 140,195,229 $ 122,561,198 $ 140,195,229 $ 122,561,198
BASIC EARNINGS PER SHARE $ 42.00 [1] $ 33.93 [1] $ 84.88 [1] $ 57.89 [1]
[1] 170,000 Shares Outstanding for All Periods (1,700 voting, 168,300 non-voting)