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Consolidated Statements of Income (USD $)
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Interest income    
Interest and fees on loans $ 21,242,577 $ 21,975,775
Interest on debt securities    
Taxable 357,437 343,596
Tax-exempt 996,387 1,284,104
Dividends 75,469 64,556
Interest on federal funds sold and overnight deposits 72,493 18,952
Total interest income 22,744,363 23,686,983
Interest expense    
Interest on deposits 4,064,057 4,758,106
Interest on federal funds purchased and other borrowed funds 415,647 616,629
Interest on repurchase agreements 141,667 178,745
Interest on junior subordinated debentures 974,257 974,257
Total interest expense 5,595,628 6,527,737
Net interest income 17,148,735 17,159,246
Provision for loan losses 1,000,000 1,016,668
Net interest income after provision for loan losses 16,148,735 16,142,578
Non-interest income    
Service fees 2,339,674 2,285,570
Income from sold loans 792,303 1,203,014
Income on bank owned life insurance 129,915 120,315
Other income 1,940,277 2,032,403
Total non-interest income 5,202,169 5,641,302
Non-interest expense    
Salaries and wages 5,841,453 5,824,999
Employee benefits 2,170,862 2,153,142
Occupancy expenses, net 3,068,071 2,971,418
FDIC insurance 439,306 633,043
Amortization of core deposit intangible 426,086 532,608
Write down of Fannie Mae preferred stock 0 25,804
Other expenses 5,587,304 5,141,136
Total non-interest expense 17,533,082 17,282,150
Income before income taxes 3,817,822 4,501,730
Income tax expense 234,276 555,722
Net income $ 3,583,546 $ 3,946,008
Earnings per common share (in dollars per share) $ 0.73 $ 0.82
Weighted average number of common shares used in computing earnings per share (in shares) 4,674,806 4,584,145
Dividends declared per common share (in dollars per share) $ 0.56 $ 0.48
Book value per share on common shares outstanding at December 31 (in dollars per share) $ 8.13 $ 7.92