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Consolidated Statements of Operations (Unaudited) (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Interest income:        
Interest and fees on loans $ 6,054,886 $ 6,989,959 $ 18,715,042 $ 22,341,724
Interest on investments and deposits 1,165,258 1,436,437 3,834,305 4,040,553
Total interest income 7,220,144 8,426,396 22,549,347 26,382,277
Interest expense:        
Interest on deposits 611,975 1,002,028 1,908,473 3,572,851
Interest on borrowings   2,456 7,058 4,495
Interest on junior subordinated notes 82,391 91,671 258,731 274,981
Total interest expense 694,366 1,096,155 2,174,262 3,852,327
Net interest income 6,525,778 7,330,241 20,375,085 22,529,950
Provision for credit losses   1,961,965 400,000 4,576,965
Net interest income after provision for credit losses 6,525,778 5,368,276 19,975,085 17,952,985
Non-interest income:        
Deposit fees and service charges 1,063,243 1,071,144 3,158,690 3,157,644
Loan fees and charges 513,188 287,913 1,440,024 898,254
Loan servicing fees 226,434 191,775 627,993 607,352
Gain (loss) on sale of other real estate, net 68,233 (56,176) 403,067 (132,197)
Gain on sale of mortgage loans 285,511 858,483 1,189,688 1,427,357
Gain on sale of investment securities 267,564 27,979 548,074 1,546,883
Other income 281,576 192,074 733,754 738,178
Total non-interest income 2,705,749 2,573,192 8,101,290 8,243,471
Non-interest expense:        
Compensation and fringe benefits 3,838,796 3,851,587 11,530,092 12,927,593
Federal deposit insurance premiums 227,820 234,061 700,120 745,547
Premises and equipment 759,092 730,102 2,244,489 2,091,599
Advertising 84,228 23,217 166,290 156,782
Data processing 558,899 344,322 1,754,936 1,558,281
Amortization of intangible assets 119,253 115,388 357,573 340,887
Other real estate owned expense 287,527 315,660 1,004,711 2,901,057
Other 1,052,389 809,099 2,836,566 2,540,743
Total non-interest expense 6,928,004 6,423,436 20,594,777 23,262,489
Income before income tax expense 2,303,523 1,518,032 7,481,598 2,933,967
Income tax expense 766,694 552,067 2,613,702 1,025,355
NET INCOME $ 1,536,829 $ 965,965 $ 4,867,896 $ 1,908,612
Basic earnings per share (in Dollars per share) $ 0.16 $ 0.10 $ 0.50 $ 0.20
Diluted earnings per share (in Dollars per share) $ 0.16 $ 0.10 $ 0.50 $ 0.20
Average basic shares outstanding (in Shares) 9,751,271 9,751,271 9,751,271 9,751,271
Average diluted shares outstanding (in Shares) 9,757,881 9,754,794 9,756,480 9,752,434