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CONSOLIDATED STATEMENTS OF INCOME (USD $)
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
INTEREST AND DIVIDEND INCOME      
Loans, including fees $ 43,180,698 $ 35,064,009 $ 36,094,302
Taxable securities 5,874,019 6,327,489 7,136,112
Tax exempt securities 1,378,753 1,188,193 1,131,610
Federal funds sold 0 0 1,232
Interest-bearing deposits 214,529 166,239 126,816
Total interest and dividend income 50,647,999 42,745,930 44,490,072
INTEREST EXPENSE      
Deposits 4,350,419 5,624,402 8,428,760
Borrowed funds 1,073,016 950,866 951,060
Securities sold under agreements to repurchase 1,375,361 1,640,543 1,954,915
Total interest expense 6,798,796 8,215,811 11,334,735
Net interest income 43,849,203 34,530,119 33,155,337
Provision for loan losses 958,333 1,125,000 2,450,000
Net interest income after provision for loan losses 42,890,870 33,405,119 30,705,337
Other operating income:      
Wealth management group fee income 6,709,685 10,496,637 8,088,654
Service charges on deposit accounts 4,281,808 4,552,430 5,263,215
Net gain on securities transactions 1,108,091 450,666 784,589
Other-than-temporary loss on investment securities:      
Total impairment losses (67,400) (393,005) (2,242,446)
Loss recognized in other comprehensive income 0 0 0
Net impairment loss recognized in earnings (67,400) (393,005) (2,242,446)
Net gain on sales of loans held for sale 179,096 241,537 258,572
Credit card merchant earnings 225,527 204,561 178,180
Gains on sales of other real estate owned 93,204 42,545 24,097
Income from bank owned life insurance 88,389 87,489 51,129
Other 4,845,858 3,961,816 3,303,505
Total other operating income 17,464,258 19,644,676 15,709,495
Other operating expenses:      
Salaries and wages 17,136,433 15,343,811 15,055,292
Pension and other employee benefits 4,796,994 3,866,744 5,096,509
Net occupancy expenses 5,015,936 4,334,441 4,283,554
Furniture and equipment expenses 2,118,544 1,948,900 1,996,067
Data processing expense 3,915,841 3,364,240 4,078,361
Amortization of intangible assets 1,041,193 730,894 933,305
Losses on sales of other real estate owned 1,671 17,982 29,010
Other real estate owned expenses 104,829 348,939 163,641
FDIC insurance 967,254 1,196,901 1,512,629
Merger related expenses 2,255,169 482,180 0
Other 7,430,359 6,207,651 6,172,966
Total other operating expenses 44,784,223 37,842,683 39,321,334
Income before income tax expense 15,570,905 15,207,112 7,093,498
Income tax expense 5,033,150 5,105,239 1,860,663
Net income $ 10,537,755 $ 10,101,873 $ 5,232,835
Weighted average shares outstanding (in shares) 4,382,843 3,606,541 3,603,129
Basic and diluted earnings per share (in dollars per share) $ 2.40 $ 2.80 $ 1.45