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Consolidated Statements of Income (Unaudited) (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Sep. 30, 2012
Interest income        
Interest and fees on loans $ 5,264,044 $ 5,356,710 $ 15,916,025 $ 15,786,521
Interest on debt securities        
Taxable 80,025 119,586 242,528 439,642
Tax-exempt 248,241 285,099 762,424 713,081
Dividends 14,762 20,575 45,123 62,162
Interest on federal funds sold and overnight deposits 64 111 7,933 3,434
Total interest income 5,607,136 5,782,081 16,974,033 17,004,840
Interest expense        
Interest on deposits 668,327 866,591 2,175,469 2,636,745
Interest on federal funds purchased and other borrowed funds 23,003 94,636 66,939 280,788
Interest on repurchase agreements 26,355 33,600 95,408 100,249
Interest on junior subordinated debentures 101,741 243,564 308,810 730,693
Total interest expense 819,426 1,238,391 2,646,626 3,748,475
Net interest income 4,787,710 4,543,690 14,327,407 13,256,365
Provision for loan losses 137,500 249,999 463,750 750,001
Net interest income after provision for loan losses 4,650,210 4,293,691 13,863,657 12,506,364
Non-interest income        
Service fees 702,671 597,567 1,889,603 1,751,912
Income from sold loans 396,770 418,594 1,236,295 1,256,763
Other income from loans 203,941 246,566 537,630 667,633
Net realized (loss) gain on sale of securities available-for-sale (5,521) 99,676 (5,521) 140,971
Other income 242,564 167,814 771,468 600,947
Total non-interest income 1,540,425 1,530,217 4,429,475 4,418,226
Non-interest expense        
Salaries and wages 1,610,697 1,547,284 4,877,483 4,523,882
Employee benefits 487,384 486,103 1,719,128 1,673,327
Occupancy expenses, net 752,019 796,029 2,458,083 2,481,921
FDIC insurance 92,964 92,343 290,021 301,925
Amortization of core deposit intangible 68,175 85,217 204,525 255,652
Other expenses 1,460,357 1,546,047 4,329,908 4,584,461
Total non-interest expense 4,471,596 4,553,023 13,879,148 13,821,168
Income before income taxes 1,719,039 1,270,885 4,413,984 3,103,422
Income tax expense (benefit) 364,106 3,534 778,929 (149,970)
Net income $ 1,354,933 $ 1,267,351 $ 3,635,055 $ 3,253,392
Earnings per common share $ 0.28 $ 0.26 $ 0.74 $ 0.65
Weighted average number of common shares used in computing earnings per share 4,845,044 4,781,877 4,831,084 4,759,383
Dividends declared per common share $ 0.14 $ 0.14 $ 0.42 $ 0.42
Book value per share on common shares outstanding at September 30, $ 8.81 $ 8.42 $ 8.81 $ 8.42