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Consolidated Balance Sheets (USD $)
Sep. 30, 2012
Dec. 31, 2011
ASSETS    
Cash and due from banks $ 1,532,621 $ 1,660,204
Interest-bearing deposits at other financial institutions 33,298,912 37,222,487
Total cash and cash equivalents 34,831,533 38,882,691
Securities available for sale 82,191,300 86,057,437
Securities held to maturity (fair value approximates $52,820 and $70,484 at September 30, 2012 and December 31, 2011, respectively) 51,385 68,643
Federal Home Loan Bank stock, at cost 2,322,900 2,322,900
Loans, net of allowance for loan losses of $5,279,676 at September 30, 2012 and $7,400,049 at December 31, 2011 268,540,559 260,364,569
Bank premises and equipment, net 5,465,004 5,712,003
Accrued interest receivable 1,351,479 1,327,458
Foreclosed assets 22,376,139 18,523,960
Other assets 8,049,182 9,395,721
Total Assets 425,179,481 422,655,382
LIABILITIES AND STOCKHOLDERS' EQUITY    
Noninterest-bearing demand deposits 43,212,796 43,989,943
Interest-bearing demand deposits 24,596,321 22,353,384
Savings deposits and money market accounts 72,958,526 46,857,118
Time deposits 188,195,355 200,841,499
Total deposits 328,962,998 314,041,944
Federal funds purchased and securities sold under agreements to repurchase 19,380,035 29,390,810
Federal Home Loan Bank advances and other borrowings 37,175,000 43,045,000
Accrued interest payable 136,081 110,703
Other liabilities 1,397,583 858,620
Total Liabilities 387,051,697 387,447,077
Stockholders' Equity:    
Preferred stock - no par value; 2,000,000 shares authorized; 494,229 shares issued and outstanding in 2012 and 403,989 shares issued and outstanding in 2011 12,175,652 9,899,544
Common stock - $l.00 par value; 20,000,000 shares authorized; 6,709,199 issued in 2012 and 2011; 6,500,396 outstanding in 2012 and 2011 6,500,396 6,500,396
Additional paid-in capital 21,371,974 21,316,438
Retained deficit (3,347,825) (3,627,208)
Accumulated other comprehensive income 1,427,587 1,119,135
Total Stockholders' Equity 38,127,784 35,208,305
Total Liabilities and Stockholders' Equity $ 425,179,481 $ 422,655,382