QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

12 Months Ended

Dec. 31, 2011

Quarterly Results Of Operations

QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)

17.	QUARTERLY RESULTS OF OPERATIONS (UNAUDITED)
	The tables below represent the quarterly results of operations for the years ended December 31, 2011 and 2010, respectively:

	2011
	FOURTH		THIRD		SECOND		FIRST
Total interest and fee income	$	3,158,632	$	3,127,754		3,042,514	$	2,948,704
Total interest expense		150,919		177,288		213,883		235,938
Net interest income		3,007,713		2,950,466		2,828,631		2,712,766
Provision for loan losses		120,000		120,000		120,000		120,000
Net interest income after provisions for loan losses		2,887,713		2,830,466		2,708,631		2,592,766
Other income		412,645		496,905		439,080		429,327
Other expense		2,118,365		1,983,371		2,045,876		2,112,654
Income before income tax expense		1,181,993		1,344,000		1,101,835		909,439
Income tax expense		347,041		407,027		333,810		260,071
Net income	$	834,952	$	936,973	$	768,025	$	649,368
Basic income per common share	$	.20	$	.21	$	.17	$	.14
Diluted income per common share	$	.20	$	.21	$	.17	$	.14

	2010
	FOURTH		THIRD		SECOND		FIRST
Total interest and fee income	$	3,112,476	$	3,059,416	$	2,954,837	$	3,039,454
Total interest expense		246,524		254,217		272,846		292,804
Net interest income		2,865,952		2,805,199		2,681,991		2,746,650
Provision for loan losses		250,000		190,000		110,000		120,000
Net interest income after provisions for loan losses		2,615,952		2,615,199		2,571,991		2,626,650
Other income		595,021		560,989		473,587		420,753
Other expense		1,998,711		1,998,737		1,990,557		1,997,193
Income before income tax expense		1,212,262		1,177,451		1,055,021		1,050,210
Income tax (benefit) expense		379,059		355,850		326,179		323,343
Net income	$	833,203	$	821,601	$	728,842	$	726,867
Basic income per common share	$	.19	$	.19	$	.16	$	.16
Diluted income per common share	$	.19	$	.19	$	.16	$	.16