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Consolidated Balance Sheets (USD $)
Jun. 30, 2011
Dec. 31, 2010
ASSETS    
Cash and due from banks $ 1,120,436 $ 1,490,030
Interest-bearing deposits at other financial institutions 28,783,701 21,491,922
Total cash and cash equivalents 29,904,137 22,981,952
Securities available for sale 109,331,248 108,250,434
Securities held to maturity (fair value approximates of $83,834 and $98,388 at June 30, 2011 and December 31, 2010, respectively) 81,534 95,702
Federal Home Loan Bank stock, at cost 2,322,900 2,322,900
Loans, net of allowance for loan losses of $6,814,385 at June 30, 2011 and $9,132,171 at December 31, 2010 263,356,939 276,114,617
Bank premises and equipment, net 5,790,638 8,047,370
Accrued interest receivable 1,297,606 1,326,480
Foreclosed assets 20,057,587 12,808,838
Other assets 9,067,121 9,551,121
Total Assets 441,209,710 441,499,414
LIABILITIES AND STOCKHOLDERS' EQUITY    
Noninterest-bearing demand deposits 42,354,816 28,980,043
Interest-bearing demand deposits 26,262,115 24,834,214
Savings deposits and money market accounts 38,425,489 34,041,672
Time deposits 227,878,545 247,591,161
Total deposits 334,920,965 335,447,090
Federal funds purchased and securities sold under agreements to repurchase 27,011,269 24,325,372
Federal Home Loan Bank advances and other borrowings 48,480,000 54,715,000
Accrued interest payable 180,223 176,761
Other liabilities 1,757,631 1,016,038
Total Liabilities 412,350,088 415,680,261
Stockholders' Equity:    
Preferred stock - no par value; 2,000,000 shares authorized; 188,820 shares issued and outstanding in 2011 and 114,540 shares issued and outstanding in 2010 4,540,516 2,727,424
Common stock - $l.00 par value; 20,000,000 shares authorized; 6,709,199 issued in 2011 and 2010; 6,500,396 outstanding in 2011 and 2010 6,500,396 6,500,396
Additional paid-in capital 21,276,868 21,237,298
Retained (deficit) (4,024,893) (4,317,130)
Accumulated other comprehensive income 566,735 (328,835)
Total Stockholders' Equity 28,859,622 25,819,153
Total Liabilities and Stockholders' Equity $ 441,209,710 $ 441,499,414