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CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (USD $)
Total
Comprehensive Income
Common Stock
Preferred Stock
Stock Warrants
Additional Paid-in Capital
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Treasury Stock
Beginning Balance at Dec. 31, 2009 $ 43,616,666   $ 3,046,363 $ 4,773,010 $ 283,738 $ 23,134,766 $ 12,943,540 $ (101,106) $ (463,645)
Comprehensive Income:                  
Net income 2,548,744 2,548,744         2,548,744    
Non-credit related impairment loss on investment securities, net of tax (819,528) (819,528)           (819,528)  
Net change in unrealized gain on available- for-sale securities, net of tax 335,313 335,313           335,313  
Net change in unrealized loss on loans held for sale, net of tax 8,507 8,507           8,507  
Comprehensive Income   2,073,036              
Issuance of preferred stock 12,123,000     12,123,000          
Accretion of preferred stock discount       42,561     (42,561)    
Dividends on preferred stock (273,629)           (273,629)    
Cash dividend declared, $.15 per common share (453,598)           (453,598)    
Grant of restricted Stock     12,353     (12,353)      
Compensation cost on restricted stock 12,610         12,610      
Ending Balance at Dec. 31, 2010 57,098,085   3,058,716 16,938,571 283,738 23,135,023 14,722,496 (576,814) (463,645)
Comprehensive Income:                  
Net income 2,871,438 2,871,438         2,871,438    
Non-credit related impairment loss on investment securities, net of tax (118,206) (118,206)           (118,206)  
Net change in unrealized gain on available- for-sale securities, net of tax 1,238,660 1,238,660           1,238,660  
Net change in unrealized loss on loans held for sale, net of tax 18,357 18,357           18,357  
Comprehensive Income   4,010,249              
Dividends on preferred stock (342,460)           (342,460)    
Cash dividend declared, $.15 per common share (459,913)           (459,913)    
Grant of restricted Stock     33,850     (33,850)      
Compensation cost on restricted stock 119,320         119,320      
Ending Balance at Dec. 31, 2011 $ 60,425,281   $ 3,092,566 $ 16,938,571 $ 283,738 $ 23,220,493 $ 16,791,561 $ 561,997 $ (463,645)