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Consolidated Balance Sheets (USD $)
6 Months Ended 12 Months Ended
Jun. 30, 2011
Dec. 31, 2010
ASSETS    
Cash and due from banks $ 10,083,717 $ 4,475,324
Federal funds sold 2,250,000 4,825,000
Interest-bearing deposits in banks 5,015,976 5,015,975
Total cash and cash equivalents 17,349,693 14,316,299
Interest-bearing time deposits in banks 747,000 747,000
Securities available for sale 41,920,925 41,537,586
Securities held to maturity (fair value approximates $6 and $26 at June 30, 2011 and December 31, 2010, respectively) 6 25
Federal Home Loan Bank stock, at cost 2,898,800 2,898,800
Loans, net of allowance for loan losses of $4,550,604 and $3,965,395 at June 30, 2011 and December 31, 2010, respectively 202,028,360 199,386,478
Premises and equipment, net 4,647,083 4,701,660
Accrued interest receivable 1,084,031 1,111,043
Cash surrender value of bank owned life insurance 9,074,899 8,924,120
Foreclosed real estate 646,595 1,102,527
Other assets 2,992,274 3,289,029
Total assets 283,389,666 278,014,567
Deposits:    
Noninterest-bearing 11,501,883 10,808,127
Interest-bearing 207,866,324 204,879,217
Total deposits 219,368,207 215,687,344
Accrued interest payable 204,921 224,890
Securities sold under agreements to repurchase 1,764,732 794,732
Federal Home Loan Bank advances 8,157,053 8,213,861
Accrued expenses and other liabilities 3,673,507 3,516,545
Total liabilities 233,168,420 228,437,372
COMMITMENTS AND CONTINGENCIES    
STOCKHOLDERS' EQUITY    
Preferred stock, $0.01 par value; authorized 10,000,000; none issued 0 0
Common stock, $0.01 par value; 50,000,000 shares authorized; 2,777,250 shares issued and 2,765,820 outstanding at June 30, 2011 and 2,777,250 at December 31, 2010 27,658 27,773
Additional paid-in capital 26,425,140 26,494,832
Common stock acquired by benefit plans:    
Restricted stock (1,203,085) (1,085,423)
Unallocated common stock held by:    
Employee Stock Ownership Plan Trust (2,073,680) (2,073,680)
Retained earnings 26,516,687 26,086,719
Accumulated other comprehensive income 528,526 126,974
Total stockholders' equity 50,221,246 49,577,195
Total liabilities and stockholders' equity $ 283,389,666 $ 278,014,567