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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (USD $)
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Interest and dividend income:    
Loans, including fees $ 11,670,912 $ 8,575,343
Taxable securities 1,486,351 1,248,586
Tax exempt securities 340,622 315,423
Interest-bearing deposits 41,782 39,727
Total interest and dividend income 13,539,667 10,179,079
Interest expense:    
Deposits 927,983 1,027,365
Borrowed funds 313,039 234,425
Securities sold under agreements to repurchase 282,772 371,099
Total interest expense 1,523,794 1,632,889
Net interest income 12,015,873 8,546,190
Provision for loan losses 477,305 125,000
Net interest income after provision for loan losses 11,538,568 8,421,190
Other operating income:    
Wealth management group fee income 1,775,576 1,615,691
Service charges on deposit accounts 991,880 983,078
Net gain on securities transactions 297,169 193,398
Other-than-temporary loss on investment securities:    
Total impairment losses 0 0
Loss recognized in other comprehensive income 0 0
Net impairment loss recognized in earnings 0 0
Net gain on sales of loans held for sale 65,340 46,932
Casualty gains 758,857 0
Income from bank owned life insurance 21,525 21,587
Other 986,510 1,486,806
Total other operating income 4,896,857 4,347,492
Other operating expenses:    
Salaries and wages 4,492,675 3,923,505
Pension and other employee benefits 1,289,940 1,043,107
Net occupancy expenses 1,294,877 1,174,042
Furniture and equipment expenses 518,366 497,447
Data processing expense 1,077,483 861,813
Amortization of intangible assets 284,140 176,503
Marketing and advertising expense 289,239 212,555
Losses on sales of other real estate owned 6,459 1,671
Other real estate owned expenses 43,479 27,223
FDIC insurance 226,631 252,395
Merger related expenses 4,545 1,036,072
Other 1,394,512 1,237,305
Total other operating expenses 10,922,346 10,443,638
Income before income tax expense 5,513,079 2,325,044
Income tax expense 1,898,546 660,029
Net income $ 3,614,533 $ 1,665,015
Weighted average shares outstanding (in shares) 4,642,012 3,624,434
Basic and diluted earnings per share (in dollars per share) $ 0.78 $ 0.46