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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (USD $)
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Interest and dividend income:    
Interest and fees on loans $ 4,655,895 $ 5,013,239
Securities:    
Taxable interest income 229,410 347,200
Nontaxable interest income 227,029 201,385
Interest-earning deposits, federal funds sold, and other 35,239 17,690
Total interest and dividend income 5,147,573 5,579,514
Interest expense:    
Deposits 795,085 1,067,360
Federal Home Loan Bank advances 121,480 130,014
Securities sold under agreements to repurchase 5,589 3,144
Subordinated debentures 21,468 24,606
Total interest expense 943,622 1,225,124
Net interest income 4,203,951 4,354,390
Provision for loan losses 225,000 450,000
Net interest income after provision for loan losses 3,978,951 3,904,390
Other income:    
Service fees on deposit accounts 82,895 92,303
Other service charges and fees 88,435 89,320
Loan servicing fees 81,171 48,716
Gain on sale of securities 355,651  
Gain on sale of loans 265,172 251,567
Other 78,317 23,118
Total Other income 951,641 505,024
Other expenses:    
Compensation and employee benefits 1,544,564 1,443,619
Occupancy expense 321,804 329,002
Data processing services 182,648 180,494
Director fees 37,350 41,350
Professional fees 98,979 177,295
FDIC insurance premiums 117,000 122,504
Foreclosed asset related expenses 230,972 85,035
Amortization of core deposit intangible 65,997 70,253
Amortization of mortgage servicing rights 46,798 59,093
Other 480,813 524,406
Total Other expenses 3,126,925 3,033,051
Income before income taxes 1,803,667 1,376,363
Income tax expense 608,605 453,827
Net income 1,195,062 922,536
Net income 1,195,062 922,536
Other comprehensive income:    
Unrealized losses on securities available for sale arising during the period (656,537) (92,912)
Reclassification adjustment for realized gains included in income (355,651)  
Tax effect 374,510 34,378
Net of tax (637,678) (58,534)
Comprehensive income $ 557,384 $ 864,002
Basic earnings per share (in dollars per share) $ 0.16 $ 0.12
Diluted earnings per share (in dollars per share) $ 0.16 $ 0.12