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Condensed Consolidated Statements of Income (Unaudited) (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Interest Income    
Loans $ 5,867,558 $ 5,928,390
Investment securities 457,566 432,629
Other 34,940 58,402
6,360,064 6,419,421
Interest Expense    
Deposits 606,793 761,174
FHLB and Federal Reserve advances 295,691 368,675
Subordinated debentures 133,163 134,350
Other 65,250 163,955
1,100,897 1,428,154
Net Interest Income 5,259,167 4,991,267
Provision for Loan Losses 200,000 400,000
Net Interest Income After    
Provision for Loan Losses 5,059,167 4,591,267
Noninterest Income    
Service charges 312,985 261,785
Gain on sale of investment securities 3,088 88,801
Gain on sale of loans 185,578 431,933
Net loss on foreclosed assets (15,783) (72,345)
Other income 331,825 309,594
817,693 1,019,768
Noninterest Expense    
Salaries and employee benefits 2,304,768 2,392,362
Occupancy 427,061 426,129
FDIC deposit insurance premiums 136,934 142,463
Data processing 160,786 169,260
Advertising 106,251 106,251
Other expense 1,208,804 1,189,135
4,344,604 4,425,600
Income Before Income Taxes 1,532,256 1,185,435
Provision for Income Taxes 230,830 232,782
Net Income 1,301,426 952,653
Preferred Stock Dividends and Discount Accretion 246,210 198,630
Net Income Available to Common Shareholders $ 1,055,216 $ 754,023
Basic Income Per Common Share (in Dollars per share) $ 0.33 $ 0.28
Diluted Income Per Common Share (in Dollars per share) $ 0.33 $ 0.25