XML 78 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Income (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Interest Income      
Loans $ 23,885,654 $ 25,666,608 $ 27,423,897
Investment securities 1,794,717 1,755,804 2,636,799
Other 175,127 183,388 315,242
25,855,498 27,605,800 30,375,938
Interest Expense      
Deposits 2,859,598 4,076,194 5,778,263
Federal Home Loan Bank advances 1,295,121 1,543,493 2,164,259
Subordinated debentures 537,178 556,159 610,929
Securities sold under agreements to repurchase 405,597 682,169 1,057,517
5,097,494 6,858,015 9,610,968
Net Interest Income 20,758,004 20,747,785 20,764,970
Provision for Loan Losses 1,550,000 5,950,000 3,350,000
Net Interest Income After Provision for Loan Losses 19,208,004 14,797,785 17,414,970
Noninterest Income      
Service charges 1,196,597 1,119,570 1,315,333
Gain on sale of investment securities 219,845 168,306 1,505,915
Gain on sale of loans 1,444,318 1,884,923 1,345,334
Gain on sale of state low-income housing tax credits 1,441,012 281,561  
Net loss on foreclosed assets (275,223) (1,391,472) (800,250)
Other income 1,292,922 1,192,783 1,118,897
5,319,471 3,255,671 4,485,229
Noninterest Expense      
Salaries and employee benefits 9,058,789 9,247,912 8,886,713
Occupancy 1,752,162 1,629,566 1,660,802
FDIC deposit insurance premiums 562,163 688,763 942,056
Prepayment penalty on repurchase agreements 1,510,000   1,531,000
Data processing 687,630 566,652 529,940
Advertising 425,004 300,000 300,000
Other expense 3,661,458 3,808,042 3,510,944
17,657,206 16,240,935 17,361,455
Income Before Income Taxes 6,870,269 1,812,521 4,538,744
Provision (Credit) for Income Taxes 1,630,562 (131,338) 703,105
Net Income 5,239,707 1,943,859 3,835,639
Preferred Stock Dividends and Discount Accretion 794,520 1,076,561 1,125,563
Net Income Available to Common Shareholders $ 4,445,187 $ 867,298 $ 2,710,076
Basic Income Per Common Share (in Dollars per share) $ 1.63 $ 0.32 $ 1.01
Diluted Income Per Common Share (in Dollars per share) $ 1.58 $ 0.30 $ 1.01