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Condensed Consolidated Statements of Cash Flows (USD $)
6 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Cash flows from operating activities:    
Net income $ 708,873 $ 3,108,059
Adjustments to reconcile net income to net cash provided by (used in) by operating activities:    
Provision for credit losses 5,530,011 4,490,000
Depreciation 367,630 378,374
Amortization of intangibles 292,781 224,960
Accretion of discounts and premiums on securities, net 248,140  
Gain on disposal of premises and equipment (326,715) (3,296)
Loss (gain) on sale of other real estate owned 28,708 (33,720)
Gain on sale of loans held for sale (231,528) (365,525)
Gain on sale of mortgage-backed securities available for sale (52,146) (935,481)
Gain on sale of investment securities available for sale   (2,406)
Stock based compensation 49,172 43,480
Originations of loans held for sale, net (16,761,812) (30,554,989)
Proceeds from sale of loans held for sale 9,775,300 17,141,501
Other operating activities 2,206,123 3,023,102
Net cash provided by (used in) operating activities 1,834,537 (3,485,941)
Cash flows from investing activities:    
Proceeds from sale of investment securities available for sale   507,406
Proceeds from sale of mortgage-backed securities available for sale 2,369,759 17,440,693
Proceeds from principal repayments of mortgage-backed securities available for sale 3,791,901 5,479,099
Proceeds from principal repayments of mortgage-backed securities held for investment 1,279,358 135,996
Originations of loans held for investment, net of principal repayments 25,013,945 4,726,260
Proceeds from disposal of other real estate owned 3,740,719 3,944,990
Proceeds from disposal of premises and equipment 381,930 3,296
Purchase of mortgage-backed securities held for investment (23,087,178)  
Sale of FHLB stock 784,900  
Purchase of premises and equipment (1,262,329) (1,078,209)
Net cash provided by investing activities 13,013,005 31,159,531
Cash flows from financing activities:    
Net increase (decrease) in deposit accounts (5,562,306) 6,029,119
Net decrease in FHLB borrowings (10,000,000) (25,000,000)
Proceeds from exercise of stock options, net of tax benefit   9,212
Cash paid for dividends   (3,897,253)
Net change in repurchase agreements 846,093 284,624
Net cash used in financing activities (14,716,213) (22,574,298)
Increase in cash and cash equivalents 131,329 5,099,292
Cash and cash equivalents, beginning of period 44,433,613 29,638,164
Cash and cash equivalents, end of period 44,564,942 34,737,456
Supplemental disclosures:    
Other real estate acquired in settlement of loans 5,167,666 3,522,363
Dividends declared, not paid   1,948,794
Exchange of loans for mortgage-backed securities $ 8,591,293 $ 14,838,276