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CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 6,058,573 $ 4,285,119
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of intangible assets 548,190 465,192
Provision for loan losses 528,897 250,000
Depreciation and amortization of fixed assets 1,497,490 1,450,227
Amortization of premiums on securities, net 894,292 557,177
Gains on sales of loans held for sale, net (144,380) (79,332)
Proceeds from sales of loans held for sale 5,360,780 3,480,239
Loans originated and held for sale (5,303,317) (3,264,965)
Net losses (gains) on sale of other real estate owned 4,502 (87,290)
Net gains on trading assets (17,369) (11,851)
Net gains on securities transactions (299,919) (679,209)
Proceeds from sale on trading assets 92,584 0
Purchase of trading assets (32,939) (249,568)
Decrease in other assets 4,919,260 3,916,406
(Increase) decrease in prepaid FDIC assessment 372,601 (323,836)
Decrease in accrued interest payable (144,225) (160,511)
Expense related to restricted stock units for directors' deferred compensation plan 42,982 42,924
Expense related to employee stock compensation 80,000 55,000
Expense related to employee stock awards 44,743 12,660
Decrease in other liabilities (104,425) (2,255,146)
Income from bank owned life insurance (43,269) (43,611)
Net cash provided by operating activities 14,355,051 7,359,625
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sales and calls of securities available for sale 69,367,438 56,656,054
Proceeds from maturities and principal collected on securities available for sale 14,616,579 14,554,015
Proceeds from maturities and principal collected on securities held to maturity 3,518,840 2,579,275
Purchases of securities available for sale (64,276,418) (80,994,140)
Purchases of securities held to maturity (1,541,250) (2,905,024)
Purchase of Federal Home Loan Bank and Federal Reserve Bank stock (26,250) (45,000)
Redemption of Federal Home Loan Bank and Federal Reserve Bank stock 176,900 228,450
Purchases of premises and equipment (1,452,526) (722,734)
Cash paid Fort Orange Financial Corporation acquisition 0 (8,137,816)
Cash received Fort Orange Financial Corporation acquisition 0 33,284,995
Proceeds from sales of other real estate owned 132,273 323,143
Net increase in loans (58,445,477) (10,752,681)
Net cash (used) provided by investing activities (37,929,891) 4,068,537
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in demand deposits, NOW accounts, savings accounts, and insured money market accounts 72,097,856 29,819,077
Net decrease in time deposits and individual retirement accounts (16,911,987) (2,684,163)
Net decrease in securities sold under agreements to repurchase (5,356,414) (13,124,903)
Repayments of Federal Home Loan Bank long term advances (2,216,124) (157,983)
Purchase of treasury stock (480,073) (183,542)
Cash dividends paid (2,285,005) (1,772,606)
Net cash provided by financing activities 44,848,253 11,895,880
Net increase in cash and cash equivalents 21,273,413 23,324,042
Cash and cash equivalents, beginning of period 52,901,853 60,619,777
Cash and cash equivalents, end of period 74,175,266 83,943,819
Cash paid during the year for:    
Interest 3,068,390 3,272,153
Income Taxes 3,500 2,204,866
Supplemental disclosure of non-cash activity:    
Transfer of loans to other real estate owned $ 223,071 $ 32,621