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Consolidated Balance Sheets (USD $)
Sep. 30, 2014
Dec. 31, 2013
ASSETS    
Cash and due from banks $ 1,091,657 $ 2,149,467
Interest-bearing deposits at other financial institutions 14,783,017 22,702,270
Total cash and cash equivalents 15,874,674 24,851,737
Securities available for sale 78,249,672 92,208,672
Securities held to maturity (fair value $29,643 and $35,027 at September 30, 2014 and December 31, 2013, respectively) 29,374 34,165
Federal Home Loan Bank stock, at cost 2,322,900 2,322,900
Loans, net of allowance for loan losses of $3,473,954 and $3,203,158 at September 30, 2014 and December 31, 2013, respectively 294,916,467 286,236,578
Bank premises and equipment, net 4,835,378 4,992,449
Accrued interest receivable 1,179,789 977,925
Foreclosed assets 10,993,825 12,925,748
Other assets 4,975,510 7,673,179
Total assets 413,377,589 432,223,353
Deposits:    
Noninterest-bearing demand deposits 53,615,550 75,206,540
Interest-bearing demand deposits 25,246,319 24,563,987
Savings deposits and money market accounts 83,109,173 86,329,930
Time deposits 154,342,518 155,313,920
Total deposits 316,313,560 341,414,377
Accrued interest payable 78,425 82,320
Federal funds purchased and securities sold under agreements to repurchase 27,335,750 22,974,117
Federal Home Loan Bank advances and other borrowings 28,000,000 26,740,000
Other liabilities 1,253,778 878,811
Total liabilities 372,981,513 392,089,625
Stockholders' equity:    
Preferred stock - no par value; 2,000,000 shares authorized; 600,000 shares issued and outstanding in 2014 and 2013 14,946,464 14,892,927
Common stock - $1.00 par value; 20,000,000 shares authorized; 6,709,199 shares issued in 2014 and 2013; 6,627,398 and 6,547,074 shares outstanding in 2014 and 2013, respectively 6,627,398 6,547,074
Additional paid-in capital 21,780,560 21,549,883
Accumulated deficit (3,050,663) (3,099,451)
Accumulated other comprehensive income 92,317 243,295
Total stockholders' equity 40,396,076 40,133,728
Total liabilities and stockholders' equity $ 413,377,589 $ 432,223,353