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CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net income $ 8,892,418 $ 7,576,059
Adjustments to reconcile net income to net cash provided by operating activities:    
Amortization of intangible assets 808,258 753,192
Provision for loan losses 753,897 833,333
Depreciation and amortization of fixed assets 2,187,234 2,129,738
Amortization of premiums on securities, net 1,343,743 960,973
Gains on sales of loans held for sale, net (270,265) (132,902)
Proceeds from sales of loans held for sale 8,992,854 5,523,214
Loans originated and held for sale (9,491,912) (4,977,727)
Net losses (gains) on sale of other real estate owned 72,004 (87,733)
Net (gains) losses on trading assets (28,261) 14,966
Net gains on securities transactions (300,516) (1,108,091)
Net impairment loss recognized on investment securities 0 67,400
Proceeds from sales of trading assets 96,498 0
Purchase of trading assets (48,851) (264,244)
Decrease in other assets 4,294,238 3,001,325
Decrease (increase) in prepaid FDIC assessment 559,406 (49,464)
Decrease in accrued interest payable (337,246) (265,000)
Expense related to restricted stock units for directors' deferred compensation plan 65,151 61,129
Expense related to employee stock compensation 80,000 55,000
Expense related to employee stock awards 61,062 21,226
Decrease in other liabilities (820,424) (2,243,010)
Income from bank owned life insurance (64,840) (65,932)
Net cash provided by operating activities 16,844,448 11,803,452
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sales and calls of securities available for sale 70,370,086 67,741,210
Proceeds from maturities and principal collected on securities available for sale 21,396,640 23,608,123
Proceeds from maturities and principal collected on securities held to maturity 3,731,924 3,448,732
Purchases of securities available for sale (64,276,418) (95,911,022)
Purchases of securities held to maturity (1,582,507) (3,319,281)
Purchase of Federal Home Loan Bank and Federal Reserve Bank stock (26,250) (1,002,500)
Redemption of Federal Home Loan Bank and Federal Reserve Bank stock 775,100 237,250
Purchases of premises and equipment (2,287,654) (1,307,723)
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 294,229 356,207
Net increase in loans (78,356,344) (10,967,168)
Net cash (used) provided by investing activities (49,961,194) 8,031,007
CASH FLOWS FROM FINANCING ACTIVITIES:    
Net increase in demand deposits, NOW accounts, savings accounts, and insured money market accounts 112,724,881 70,452,474
Net decrease in time deposits and individual retirement accounts (28,042,200) (15,073,756)
Net decrease in securities sold under agreements to repurchase (4,189,186) (13,889,730)
Repayments of Federal Home Loan Bank long term advances (15,298,177) (317,990)
Purchase of treasury stock (579,051) (327,413)
Sale of treasury stock 257,449 89,505
Cash dividends paid (3,427,087) (2,914,582)
Net cash provided by financing activities 61,446,629 38,018,508
Net increase in cash and cash equivalents 28,329,883 57,852,967
Cash and cash equivalents, beginning of period 52,901,853 60,619,777
Cash and cash equivalents, end of period 81,231,736 118,472,744
Cash paid during the year for:    
Interest 4,501,350 5,126,397
Income Taxes 3,500 3,340,847
Supplemental disclosure of non-cash activity:    
Transfer of loans to other real estate owned $ 512,686 $ 308,976