XML 13 R4.htm IDEA: XBRL DOCUMENT v2.3.0.15
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) (USD $)
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Interest Income    
Loans$ 6,943,727$ 6,861,717$ 20,483,736$ 21,244,834
Investment securities711,642866,3862,174,1432,724,195
Other74,210117,806243,312370,777
Total Interest Income7,729,5797,845,90922,901,19124,339,806
Interest Expense    
Deposits1,397,9102,346,0814,508,3247,654,209
Federal Home Loan Bank advances568,868768,5691,776,3072,334,875
Subordinated debentures132,614255,945473,416767,837
Other298,806289,240866,682864,807
Total Interest Expense2,398,1983,659,8357,624,72911,621,728
Net Interest Income5,331,3814,186,07415,276,46212,718,078
Provision for Loan Losses900,000850,0002,800,0002,750,000
Net Interest Income After Provision for Loan Losses4,431,3813,336,07412,476,4629,968,078
Noninterest Income    
Service charges339,674386,9671,037,6371,173,517
Other fees7,3798,80520,71622,473
Gain on sale of investment securities82,34841,471198,146215,359
Gain on sale of loans370,204472,082900,5391,129,621
Loss on foreclosed assets(82,961)(33,152)(506,178)(43,865)
Other income279,576285,278818,458881,647
Total Noninterest income996,2201,161,4512,469,3183,378,752
Noninterest Expense    
Salaries and employee benefits2,264,0252,110,0016,719,6836,298,459
Occupancy394,543431,5561,243,0691,276,283
FDIC deposit insurance premiums229,047304,069749,567928,492
Data processing121,882122,133397,451336,555
Advertising75,00075,000225,000225,000
Other expense800,047783,9432,620,8052,396,744
Total Noninterest Expense3,884,5443,826,70211,955,57511,461,533
Income Before Income Taxes1,543,057670,8232,990,2051,885,297
Provision for Income Taxes327,427148,619462,071394,724
Net Income1,215,630522,2042,528,1341,490,573
Preferred Stock Dividends and Discount Accretion281,391281,391844,173844,173
Net Income Available to Common Shareholders$ 934,239$ 240,813$ 1,683,961$ 646,400
Basic Income Per Common Share (in dollars per share)$ 0.35$ 0.09$ 0.63$ 0.24
Diluted Income Per Common Share (in dollars per share)$ 0.35$ 0.09$ 0.63$ 0.24