XML 22 R2.htm IDEA: XBRL DOCUMENT v2.3.0.15
CONSOLIDATED BALANCE SHEETS (USD $)
Sep. 30, 2011
Dec. 31, 2010
Assets  
Cash and due from banks$ 2,108,251$ 2,144,390
Interest bearing deposits with banks305,253304,721
Federal funds sold12,455,0006,247,000
Cash and cash equivalents14,868,4848,696,111
Investment securities:  
Held-to-maturity, at amortized cost (fair value of $17,917,930 and $15,242,856 at September 30, 2011 and December 31, 2010, respectively)17,365,85415,138,389
Available-for-sale, at fair value1,343,8161,338,898
Loans41,642,95545,612,217
Less: allowance for loan losses(799,097)(925,905)
Net loans40,843,85844,686,312
Bank premises & equipment, net1,043,3951,143,347
Accrued interest receivable357,430363,348
Other real estate owned1,284,3901,416,543
Core deposit intangible358,331491,889
Prepaid expenses and other assets550,034690,878
Total Assets78,015,59273,965,715
Liabilities & Shareholders’ Equity  
Demand deposits, non-interest bearing13,675,37813,528,781
Demand deposits, interest bearing17,893,65413,802,602
Savings deposits14,590,33513,856,033
Time deposits, $100,000 and over18,179,69517,975,595
Other time deposits7,779,1028,047,679
Total Deposits72,118,16467,210,690
Accrued interest payable46,60456,907
Accrued expenses and other liabilities316,743400,702
Total Liabilities72,481,51167,668,299
Shareholders’ equity:  
Preferred Stock, Series A, non-cumulative, 6%, $.01 par value, 500,000 shares authorized, 136,842 issued1,3681,368
Common stock, $.01 par value; 2,000,000 shares authorized; 876,921 shares issued and outstanding8,7698,769
Class B Non-voting common stock; 250,000 shares authorized; $0.01 par value; 191,667 shares issued and outstanding1,9171,917
Additional-paid-in-capital14,749,85214,749,852
Accumulated deficit(9,266,398)(8,508,591)
Net unrealized gain on available-for-sale securities38,57344,101
Total Shareholders’ equity5,534,0816,297,416
Total Liabilities and Shareholders Equity$ 78,015,592$ 73,965,715