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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)
3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 3,614,533 $ 1,665,015
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of intangible assets 284,140 176,503
Provision for loan losses 477,305 125,000
Depreciation and amortization of fixed assets 740,442 704,659
Amortization of premiums on securities, net 415,183 195,308
Gains on sales of loans held for sale, net (65,340) (46,932)
Proceeds from sales of loans held for sale 2,345,590 2,325,959
Loans originated and held for sale (2,710,673) (1,819,218)
Net losses on sale of other real estate owned 6,459 1,671
Net gain on trading assets (13,122) (8,793)
Net gains on securities transactions (297,169) (193,398)
Proceeds from sales of trading assets 72,646 0
Purchase of trading assets (19,386) (227,287)
Decrease (increase) in other assets 2,329,896 (414,556)
Decrease in prepaid FDIC assessment 207,849 234,174
Decrease in accrued interest payable (124,364) (81,239)
Expense related to restricted stock units for directors' deferred compensation plan 21,340 24,968
Expense related to employee stock compensation 80,000 55,000
Expense related to employee restricted stock awards 15,922 6,254
Decrease in other liabilities (2,218,951) (1,831,697)
Income from bank owned life insurance (21,525) (21,587)
Net cash provided by operating activities 5,140,775 869,804
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sales and calls of securities available for sale 52,579,688 50,170,898
Proceeds from maturities and principal collected on securities available for sale 6,881,564 8,404,592
Proceeds from maturities and principal collected on securities held to maturity 1,090,104 172,790
Purchases of securities available for sale (37,942,141) (69,419,853)
Purchases of securities held to maturity (225,000) (1,973,274)
Purchase of Federal Home Loan Bank and Federal Reserve Bank stock (1,550) 0
Redemption of Federal Home Loan Bank and Federal Reserve Bank stock 75,100 121,900
Purchases of premises and equipment (954,974) (238,718)
Proceeds from sale of other real estate owned 34,555 36,809
Net (increase) decrease in loans (5,695,251) 1,139,806
Net cash used by investing activities 15,842,095 (11,585,050)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in demand deposits, NOW accounts, savings accounts, and insured money market accounts 54,238,429 32,078,587
Net decrease in time deposits and individual retirement accounts (14,025,878) (217,109)
Net decrease in securities sold under agreements to repurchase (2,108,399) (2,863,867)
Repayments of Federal Home Loan Bank long term advances (116,577) 0
Purchase of treasury stock (216,808) 0
Cash dividends paid (1,141,081) (881,203)
Net cash provided by financing activities 36,629,686 28,116,408
Net increase in cash and cash equivalents 57,612,556 17,401,162
Cash and cash equivalents, beginning of period 52,901,853 60,619,777
Cash and cash equivalents, end of period 110,514,409 78,020,939
Cash paid during the year for:    
Interest 1,648,158 1,714,128
Income Taxes 875 309,686
Supplemental disclosure of non-cash activity:    
Transfer of loans to other real estate owned $ 116,800 $ 0