Balance Sheets (Unaudited) (USD $)	Jun. 30, 2011	Dec. 31, 2010
Assets
Cash and due from banks	$ 2,872,242	$ 3,924,571
Federal funds sold	6,849,352	4,150,670
Time deposits with other banks	795,116	789,721
Total cash and cash equivalents	10,516,710	8,864,962
Securities available for sale at fair value	23,519,187	17,756,616
Nonmarketable equity securities	1,066,980	1,267,280
Total investments	24,586,167	19,023,896
Loans receivable	171,082,456	148,289,512
Less allowance for loan losses	(4,126,141)	(5,225,914)
Loans, net	166,956,315	143,063,598
Premises, furniture and equipment, net	3,799,865	3,861,622
Accrued interest receivable	729,588	676,898
Deferred tax asset	2,020,521	2,059,926
Other real estate owned	6,366,488	6,402,263
Other assets	354,126	535,664
Total assets	215,329,780	184,488,829
Liabilities
Noninterest-bearing transaction accounts	12,763,113	7,225,888
Interest-bearing transaction accounts	7,874,661	6,773,623
Savings and money market	56,157,560	41,551,912
Time deposits $100,000 and over	6,759,265	7,742,179
Other time deposits	103,084,524	85,690,137
Total deposits	186,639,123	148,983,739
Borrowed funds	72,807	360,143
FHLB advances	8,000,000	13,500,000
Accrued interest payable	66,513	66,787
Other liabilities	112,366	223,258
Total liabilities	194,890,809	163,133,927
Shareholders’ equity
Preferred stock, no par value, 1,000,000 shares authorized, issued and outstanding – 3,500 at June 30, 2011 and at December 31, 2010	3,422,376	3,410,220
Common stock, $1.00 par value; 11,000,000 shares authorized, 2,678,205 issued at June 30, 2011 and December 31, 2010	2,678,205	2,678,205
Treasury stock, at cost (10,000 shares at June 30, 2011 and December 31, 2010)	(55,600)	(55,600)
Warrants	136,850	136,850
Capital surplus	21,830,807	21,787,729
Retained deficit	(7,571,732)	(6,540,739)
Accumulated other comprehensive loss	(1,935)	(61,763)
Total shareholders’ equity	20,438,971	21,354,902
Total liabilities and shareholders’ equity	$ 215,329,780	$ 184,488,829