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CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Interest and dividend income:        
Loans, including fees $ 11,056,416 $ 11,033,636 $ 22,360,424 $ 22,704,549
Taxable securities 986,001 1,362,315 2,117,054 2,863,084
Tax exempt securities 281,117 335,626 586,259 676,247
Interest-bearing deposits 9,708 33,413 17,691 60,777
Total interest and dividend income 12,333,242 12,764,990 25,081,428 26,304,657
Interest expense:        
Deposits 594,529 814,345 1,218,610 1,726,994
Securities sold under agreements to repurchase 211,452 249,528 430,801 532,300
Borrowed funds 199,489 320,936 387,278 633,976
Total interest expense 1,005,470 1,384,809 2,036,689 2,893,270
Net interest income 11,327,772 11,380,181 23,044,739 23,411,387
Provision for loan losses 450,474 51,593 881,484 528,897
Net interest income after provision for loan losses 10,877,298 11,328,588 22,163,255 22,882,490
Other operating income:        
Wealth management group fee income 1,884,949 1,726,812 3,635,127 3,502,388
Service charges on deposit accounts 1,186,272 1,040,285 2,155,044 2,032,165
Net gain on securities transactions 1,228 2,750 1,228 299,919
Net gain on sales of loans held for sale 179,253 79,041 291,169 144,380
Casualty gains 0 21,578 0 780,435
Net gains (losses) on sales of other real estate owned 15,997 1,958 15,997 (4,502)
Income from bank owned life insurance 21,039 21,744 41,686 43,269
Other 1,186,400 1,217,987 2,356,464 2,204,498
Total other operating income 4,475,138 4,112,155 8,496,715 9,002,552
Other operating expenses:        
Salaries and wages 4,598,762 4,556,051 9,416,991 9,048,726
Pension and other employee benefits 1,364,523 1,466,537 2,788,999 2,756,477
Net occupancy expenses 1,339,411 1,285,131 2,700,996 2,580,009
Furniture and equipment expenses 567,027 577,482 1,085,527 1,095,848
Data processing expense 1,127,804 1,230,296 2,240,737 2,309,227
Professional services 196,444 366,021 520,468 516,234
Amortization of intangible assets 214,478 264,050 449,079 548,190
Marketing and advertising expense 197,280 355,826 484,857 645,064
Other real estate owned expenses 26,696 88,420 62,368 131,899
FDIC insurance 202,511 183,412 419,371 410,043
Loan expense 192,017 144,898 335,118 325,045
Other 1,364,551 1,363,297 2,611,750 2,445,879
Total other operating expenses 11,391,504 11,881,421 23,116,261 22,812,641
Income before income tax expense 3,960,932 3,559,322 7,543,709 9,072,401
Income tax expense 1,306,325 1,115,282 2,477,334 3,013,828
Net income $ 2,654,607 $ 2,444,040 $ 5,066,375 $ 6,058,573
Weighted average shares outstanding (in shares) 4,658,400 4,636,395 4,657,131 4,639,204
Basic and diluted earnings per share (in dollars per share) $ 0.57 $ 0.53 $ 1.09 $ 1.31