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Consolidated Statements of Operations (Unaudited) (USD $)
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
INTEREST INCOME    
Interest and fees on loans$ 11,851,708$ 13,234,729$ 35,930,550$ 40,286,802
Interest on debt securities:    
Taxable1,236,9841,054,6673,734,8383,236,744
Nontaxable250,569273,538780,470894,293
Interest on federal funds sold and securities purchased under agreements to resell145076133
Interest on interest-bearing deposits7,86827,85140,15663,373
Dividends on other securities36,78833,577121,149119,024
Total interest income13,383,93114,624,41240,607,23944,600,369
Interest on deposits:    
Savings, interest checking and money market387,074511,4421,318,5781,696,648
Time deposit accounts $100,000 and over402,246594,3341,298,0671,956,968
Other time deposit accounts1,243,9891,758,8503,982,7785,607,583
Interest on federal funds purchased and securities sold under agreements to repurchase12,51819,69038,50159,353
Interest on subordinated notes321,453353,536964,4201,201,082
Interest on Federal Home Loan Bank advances212,423527,818937,6001,794,832
Total interest expense2,579,7033,765,6708,539,94412,316,466
Net interest income10,804,22810,858,74232,067,29532,283,903
Provision for loan losses2,010,0002,450,0005,643,3367,105,000
Net interest income after provision for loan losses8,794,2288,408,74226,423,95925,178,903
NON-INTEREST INCOME    
Service charges on deposit accounts1,446,2241,427,1304,175,9874,150,420
Trust department income208,772186,989632,638566,495
Gain on sale of mortgage loans, net431,5031,011,253893,7331,533,027
Other270,916284,932885,7611,115,838
Total non-interest income2,357,4152,910,3046,588,1197,365,780
NON-INTEREST EXPENSE    
Salaries and employee benefits4,504,8534,256,52313,515,54613,463,964
Occupancy expense, net734,739654,6871,957,7881,881,093
Furniture and equipment expense467,479472,6571,483,2621,499,307
FDIC insurance assessment254,595442,9651,129,6081,288,163
Legal, examination, and professional fees285,834348,7921,083,443932,115
Advertising and promotion271,896311,219773,771886,242
Postage, printing, and supplies271,245299,997835,726874,353
Processing expense787,132853,7102,422,0172,560,570
Other real estate expense523,592882,2641,564,4612,895,010
Other823,745842,7032,545,3372,535,084
Total non- interest expense8,925,1109,365,51727,310,95928,815,901
Income before income taxes2,226,5331,953,5295,701,1193,728,782
Income tax expense710,894531,3271,823,3691,030,346
Net income1,515,6391,422,2023,877,7502,698,436
Preferred stock dividends378,187378,1871,130,3601,130,360
Accretion of discount on preferred stock119,119119,119357,356357,356
Net income available to common shareholders$ 1,018,333$ 924,896$ 2,390,034$ 1,210,720
Basic earnings per share$ 0.22$ 0.20$ 0.51$ 0.26
Diluted earnings per share$ 0.22$ 0.20$ 0.51$ 0.26