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Consolidated Statements of Income (Unaudited) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Interest Income        
Loans, including fees $ 10,383,044 $ 7,265,525 $ 20,754,401 $ 14,426,178
Investment securities 812,148 817,359 1,671,631 1,778,180
Other investments and deposits 35,068 34,542 69,466 71,263
Total interest income 11,230,260 8,117,426 22,495,498 16,275,621
Interest Expense        
Deposits 1,084,579 1,035,004 2,216,427 2,212,053
Short-term FHLB advances 15,608 7,143 31,450 8,055
Long-term FHLB advances 162,158 107,944 327,152 207,671
Total interest expense 1,262,345 1,150,091 2,575,029 2,427,779
Net interest income 9,967,915 6,967,335 19,920,469 13,847,842
Provision for loan losses 1,160,326 264,673 1,872,226 366,949
Net interest income after provision for loan losses 8,807,589 6,702,662 18,048,243 13,480,893
Noninterest Income        
Service fees and charges 583,916 545,599 1,153,858 1,020,423
Bank card fees 484,408 444,093 952,692 842,188
Gain on sale of loans, net 417,934 121,293 744,105 225,687
Income from bank-owned life insurance 130,927 146,937 262,206 292,356
Gain (loss) on sale of securities, net 59,079   59,247 (166,082)
Discount accretion of FDIC loss sharing receivable 175,622 231,263 353,131 469,932
Settlement of litigation   525,000   525,000
Other income 47,773 87,323 74,335 113,906
Total noninterest income 1,899,659 2,101,508 3,599,574 3,323,410
Noninterest Expense        
Compensation and benefits 4,826,649 3,915,112 9,522,358 7,913,520
Occupancy 702,003 559,165 1,396,945 1,124,426
Marketing and advertising 184,890 215,145 336,364 376,195
Data processing and communication 666,999 572,000 1,339,340 1,113,507
Professional services 255,483 427,520 487,736 847,252
Forms, printing and supplies 140,449 147,093 266,715 261,074
Franchise and shares tax 175,651 180,501 351,302 361,001
Regulatory fees 213,018 200,642 411,175 430,382
Foreclosed assets, net 242,726 105,766 510,724 153,900
Other expenses 635,046 488,152 1,229,077 936,963
Total noninterest expense 8,042,914 6,811,096 15,851,736 13,518,220
Income before income tax expense 2,664,334 1,993,074 5,796,081 3,286,083
Income tax expense 911,659 725,627 1,982,948 1,223,952
Net Income $ 1,752,675 $ 1,267,447 $ 3,813,133 $ 2,062,131
Earnings per share:        
Basic $ 0.25 $ 0.18 $ 0.55 $ 0.29
Diluted $ 0.24 $ 0.17 $ 0.53 $ 0.28