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Consolidated Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash Flows from Operating Activities  
Net income$ 3,206,910$ 2,796,834
Adjustments to reconcile net income to net cash provided by operating activities:  
Depreciation and amortization885,080931,407
Disposal of obsolete assets44,7080
Provision for loan losses1,470,8351,450,000
Loss on sale or impairment of other real estate350,821119,810
(Gain) on sale and call of securities(28,390)(552,627)
Loss on impairment of securities189,127977,589
Amortization of security premiums, net69,33450,431
Amortization of unearned compensation, net of forfeiture102,822281,848
Decrease (increase) in other assets492,822(639,219)
Increase in other liabilities1,004,16384,810
Net cash provided by operating activities7,788,2325,500,883
Cash Flows from Investing Activities  
Proceeds from sale of securities available for sale31,20010,499,027
Proceeds from maturities, calls and principal payments of securities available for sale18,492,03312,027,291
Purchase of securities available for sale(19,903,305)(32,837,240)
Purchase of premises and equipment(710,381)(1,375,435)
Redemptions of restricted securities622,900259,800
Net decrease in loans9,551,655270,832
Proceeds from sale of other real estate owned311,179817,050
Net cash provided by (used in) investing activities8,395,281(10,338,675)
Cash Flows from Financing Activities  
Net increase in demand deposits, NOW accounts and savings accounts9,593,07793,815,718
Net (decrease) in certificates of deposit(7,371,818)(14,479,897)
Federal Home Loan Bank principal repayments0(25,000,000)
Cash dividends paid on common stock(1,321,113)(2,178,612)
Issuance of common stock217,523254,033
Net cash provided by financing activities1,117,66952,411,242
Increase in cash and cash equivalents17,301,18247,573,450
Cash and Cash Equivalents  
Beginning47,182,49926,208,367
Ending64,483,68173,781,817
Cash payments for:  
Interest3,874,2824,746,676
Income taxes656,3921,596,000
Supplemental Disclosures of Noncash Investing Activities  
Unrealized gain on securities available for sale, net of tax effect893,64622,137
Foreclosed assets acquired in settlement of loans1,455,4331,278,000
Unrealized (loss) interest rate swap, net of taxes$ (204,551)$ (171,078)