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Consolidated Balance Sheets (USD $)
Mar. 31, 2012
Dec. 31, 2011
ASSETS    
Cash and due from banks $ 10,982,897 $ 1,660,204
Interest-bearing deposits at other financial institutions 23,901,980 37,222,487
Total cash and cash equivalents 34,884,877 38,882,691
Securities available for sale 88,249,596 86,057,437
Securities held to maturity (fair value approximates $64,970 and $70,484 at March 31, 2012 and December 31, 2011, respectively) 63,410 68,643
Federal Home Loan Bank stock, at cost 2,322,900 2,322,900
Loans, net of allowance for loan losses of $6,024,351 and $7,400,049 at March 31, 2012 and December 31, 2011 256,763,922 260,364,569
Bank premises and equipment, net 5,649,662 5,712,003
Accrued interest receivable 1,334,003 1,327,458
Foreclosed assets 18,956,631 18,523,960
Other assets 9,250,307 9,395,721
Total Assets 417,475,308 422,655,382
LIABILITIES AND STOCKHOLDERS' EQUITY    
Noninterest-bearing demand deposits 47,499,843 43,989,943
Interest-bearing demand deposits 26,851,857 22,353,384
Savings deposits and money market accounts 52,066,221 46,857,118
Time deposits 189,397,737 200,841,499
Total deposits 315,815,658 314,041,944
Federal funds purchased and securities sold under agreements to repurchase 21,445,300 29,390,810
Federal Home Loan Bank advances and other borrowings 42,610,000 43,045,000
Accrued interest payable 110,398 110,703
Other liabilities 1,604,009 858,620
Total Liabilities 381,585,365 387,447,077
Stockholders' equity:    
Preferred stock - no par value; 2,000,000 shares authorized; 425,369 and 403,989 shares issued and outstanding in 2012 and 2011, respectively 10,446,139 9,899,544
Common stock - $1.00 par value; 20,000,000 shares authorized; 6,709,199 shares issued in 2012 and 2011; 6,500,396 shares outstanding in 2012 and 2011 6,500,396 6,500,396
Additional paid-in capital 21,334,950 21,316,438
Retained deficit (3,472,697) (3,627,208)
Accumulated other comprehensive income 1,081,155 1,119,135
Total Stockholders' Equity 35,889,943 35,208,305
Total Liabilities and Stockholders' Equity $ 417,475,308 $ 422,655,382