CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 31, 2012	Dec. 31, 2011
ASSETS:
Cash and due from banks	$ 4,721,765	$ 3,358,177
Federal funds sold	17,699,876	14,165,877
Total cash and cash equivalents	22,421,641	17,524,054
Interest-bearing deposits in other banks	13,091,252	13,339,252
Investment securities available for sale	2,693,033	2,972,420
Investment securities held to maturity (fair value approximates $9,205,000 at March 31, 2012 and $9,861,000 at December 31, 2011)	9,000,590	9,652,630
Total investments	24,784,875	25,964,302
Loans
Real estate	45,687,885	46,184,898
Commercial	9,587,635	9,974,353
Installment	372,459	643,660
Gross loans	55,647,979	56,802,911
Unearned fees and discounts	(156,756)	(29,107)
Loans net of unearned fees and discount	55,491,223	56,773,804
Allowance for loan losses	(1,535,243)	(1,537,963)
Net loans	53,955,980	55,235,841
Accrued interest receivable	265,631	275,976
Restricted stock	667,700	667,700
Fixed assets, net	6,407,441	6,443,753
Foreclosed assets	0	439,317
Prepaid & other assets	2,888,910	3,154,650
Total assets	111,392,178	109,705,593
Deposits
Non-interest bearing	49,288,661	47,188,644
Interest bearing
NOW and money market	31,423,967	32,241,986
Savings	2,254,938	1,809,536
Time deposits less than $100,000	4,900,481	4,700,126
Time deposits of $100,000 or greater	11,146,318	12,163,266
Total deposits	99,014,365	98,103,558
Accrued interest payable	161,160	139,646
Accrued expenses & other payables	770,186	897,363
Subordinated notes payable to subsidiary trust	3,093,000	3,093,000
Total liabilities	103,038,711	102,233,567
SHAREHOLDERS' EQUITY
Common stock, authorized 10,000,000 shares with no par value, issued and outstanding 829,402 shares and 749,540 shares at March 31, 2012 and December 31, 2011, respectively.	3,441,723	2,760,812
Retained earnings	4,835,568	4,631,610
Accumulated other comprehensive income	76,176	79,604
Total shareholders' equity	8,353,467	7,472,026
Total liabilities & shareholders' equity	$ 111,392,178	$ 109,705,593