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Consolidated Statements of Income (Unaudited) (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Interest income:        
Interest and fees on loans $ 3,066,809 $ 3,104,117 $ 9,074,278 $ 9,056,625
Interest on taxable securities available for sale 270,300 149,301 765,842 449,259
Interest on taxable securities held to maturity 80,051 90,578 253,583 294,211
Interest on tax exempt securities 264,330 271,199 790,511 830,588
Dividends 26,299 10,398 51,216 26,720
Interest on deposits in other banks 5,837 12,499 39,674 49,322
Interest on certificates of deposit in other banks 8,573 10,928 27,210 32,355
Total interest income 3,722,199 3,649,020 11,002,314 10,739,080
Interest expense:        
Interest on deposits 177,944 209,152 565,788 669,385
Interest on federal funds purchased 59 1 62 13
Interest on other short-term borrowings 13,432 102,669 153,845 196,646
Interest on long-term debt 114,554 91,984 321,782 374,618
Total interest expense 305,989 403,806 1,041,477 1,240,662
Net interest income 3,416,210 3,245,214 9,960,837 9,498,418
Provision for loan losses 75,000 105,000 255,000 315,000
Net interest income after provision for loan losses 3,341,210 3,140,214 9,705,837 9,183,418
Noninterest income:        
Service charges on deposit accounts 307,391 338,348 963,044 924,532
Income from trust services 74,472 60,869 187,691 164,383
Income from retail brokerage services 79,788 88,414 270,493 255,100
Income from insurance services 284,680 307,912 992,343 979,252
Income from mortgage banking services 188,501 204,467 534,573 702,115
Net gain (loss) on sale or disposition of assets 36,196 (11,102) 56,643 (68,088)
Net gain on sale of securities 139,057 0 293,508 0
Other income 173,076 173,856 572,866 560,083
Total noninterest income 1,283,161 1,162,764 3,871,161 3,517,377
Noninterest expense:        
Salaries and employee benefits 2,134,177 2,114,007 6,273,358 6,291,177
Occupancy expense 271,402 266,352 780,925 772,849
Equipment expense 227,359 223,778 659,622 684,473
Data processing expense 281,627 277,630 839,130 826,183
Amortization of intangible assets 3,906 53,925 41,025 161,775
Other operating expenses 694,121 635,999 2,151,140 2,012,584
Total noninterest expenses 3,612,592 3,571,691 10,745,200 10,749,041
Income before income taxes 1,011,779 731,287 2,831,798 1,951,754
Provision for income taxes 208,223 80,705 590,308 161,494
Net income $ 803,556 $ 650,582 $ 2,241,490 $ 1,790,260
Earnings per share of common stock:        
Net income, basic $ 0.32 $ 0.25 $ 0.88 $ 0.7
Net income, diluted $ 0.32 $ 0.25 $ 0.88 $ 0.7
Dividends paid per share $ 0.08 $ 0.04 $ 0.24 $ 0.12
Weighted average shares outstanding 2,547,837 2,547,837 2,547,837 2,547,837
Diluted average shares outstanding 2,547,837 2,547,837 2,547,837 2,547,837