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Consolidated Statements of Cash Flows (Unaudited) (USD $)
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 5,004,698 $ 3,014,770
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 1,285,282 1,294,578
Provision for loan/lease losses 2,739,885 2,979,418
Amortization of offering costs on subordinated debentures 7,158 7,158
Stock-based compensation expense 397,927 371,436
Losses on sales of other real estate owned, net 132,754 444,648
Amortization of premiums on securities, net 1,704,629 1,804,503
Securities gains (1,028,914)  
Other-than-temporary impairment losses on securities 118,847  
Loans originated for sale (43,161,215) (49,278,922)
Proceeds on sales of loans 56,509,458 50,299,970
Gains on sales of loans, net (1,514,821) (722,132)
Prepayment fees on Federal Home Loan Bank advances 832,099  
Losses on lease residual values   617,000
Increase in accrued interest receivable (119,254) (27,941)
Decrease in prepaid FDIC insurance 1,057,784 1,199,523
Increase in cash value of bank-owned life insurance (701,053) (620,656)
Decrease (increase) in other assets 1,952,742 (2,468,908)
(Decrease) increase in other liabilities (537,175) 526,158
Net cash provided by operating activities 24,680,831 9,440,603
CASH FLOWS FROM INVESTING ACTIVITIES    
Net decrease (increase) in federal funds sold 53,960,000 (27,591,667)
Net decrease (increase) in interest-bearing deposits at financial institutions 12,452,616 (903,164)
Proceeds from sales of foreclosed assets 2,618,237 1,674,345
Activity in securities portfolio:    
Purchases (299,119,217) (190,707,222)
Calls, maturities and redemptions 162,834,446 140,067,000
Paydowns 2,430,154 234,858
Sales 45,725,084  
Activity in restricted investment securities:    
Purchases (57,300) (1,371,950)
Redemptions 1,266,800 94,500
Activity in bank-owned life insurance:    
Purchases (7,000,000) (3,150,000)
Surrender of policy   609,772
Net (increase) decrease in loans/leases originated and held for investment (31,137,089) 25,831,974
Purchase of premises and equipment (700,230) (1,843,505)
Net cash used in investing activities (56,726,499) (57,055,059)
CASH FLOWS FROM FINANCING ACTIVITIES    
Net increase in deposit accounts 99,498,515 30,933,114
Net decrease in short-term borrowings (18,759,955) (17,864,384)
Activity in Federal Home Loan Bank advances:    
Advances   30,000,000
Calls and maturities (19,000,000) (12,100,000)
Prepayments (15,832,099)  
Net (decrease) increase in other borrowings (9,154,734) 13,475,122
Proceeds from issuance of Series A Subordinated Notes and detachable warrants to purchase 54,000 shares of common stock   2,700,000
Payment of cash dividends on common and preferred stock (2,014,345) (2,029,809)
Proceeds from issuance of Series E Noncumulative Convertible Perpetual Preferred Stock, net   3,203,433
Proceeds from issuance of common stock, net 358,153 129,603
Net cash provided by financing activities 35,095,535 48,447,079
Net increase in cash and due from banks 3,049,867 832,623
Cash and due from banks, beginning 42,030,806 35,878,046
Cash and due from banks, ending 45,080,673 36,710,669
Supplemental disclosure of cash flow information, cash payments for:    
Interest 12,824,212 15,759,012
Income/franchise taxes 1,162,609 1,472,491
Supplemental schedule of noncash investing activities:    
Change in accumulated other comprehensive income, unrealized gains on securities available for sale, net 1,064,174 3,706,944
Transfers of loans to other real estate owned $ 4,646,402 $ 2,847,342