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Consolidated Balance Sheets (USD $)
Mar. 31, 2012
Dec. 31, 2011
Cash and due from banks:    
Noninterest bearing deposits and cash $ 4,052,483 $ 4,241,552
Interest bearing deposits 99,211,871 50,474,257
Short-term investments 709,843 709,567
Total cash and cash equivalents 103,974,197 55,425,376
Securities:    
Available for sale securities, at fair value (Note 2) 58,591,854 66,469,972
Other Investments 3,500,000 3,500,000
Federal Reserve Bank stock, at cost 1,692,150 1,707,000
Federal Home Loan Bank stock, at cost 4,343,800 4,508,300
Total securities 68,127,804 76,185,272
Loans receivable (net of allowance for loan losses: 2012: $8,460,943 2011: $9,384,672) (Note 3) 466,265,222 501,227,297
Loans held for sale 0 250,000
Accrued interest and dividends receivable 2,242,791 2,453,179
Premises and equipment, net 4,882,489 4,108,318
Cash surrender value of life insurance 21,127,273 20,984,604
Other real estate owned 1,461,647 2,762,640
Deferred tax asset (Note 6) 0 0
Other assets 3,046,285 2,419,592
Total assets 671,127,708 665,816,278
Deposits (Note 4):    
Noninterest bearing deposits 59,049,656 65,613,374
Interest bearing deposits 480,540,664 479,296,019
Total deposits 539,590,320 544,909,393
Borrowings:    
Repurchase agreements 7,000,000 7,000,000
Federal Home Loan Bank borrowings 60,000,000 50,000,000
Total borrowings 67,000,000 57,000,000
Junior subordinated debt owed to unconsolidated trust 8,248,000 8,248,000
Accrued expenses and other liabilities 5,052,168 5,109,225
Total liabilities 619,890,488 615,266,618
Commitments (Note 9)      
Shareholders' equity    
Preferred stock, no par value; 1,000,000 shares authorized, no shares issued and outstanding      
Common stock, $.01 par value, 100,000,000 shares authorized; 2012: 38,478,778 shares issued; 38,467,073 shares outstanding. 2011: 38,374,432 shares issued; 38,362,727 shares outstanding 384,787 383,744
Additional paid-in capital 105,129,021 105,050,433
Accumulated deficit (54,313,301) (54,858,831)
Less: Treasury stock, at cost: 2012 and 2011 11,705 shares (160,025) (160,025)
Accumulated other comprehensive income 196,738 134,339
Total shareholders' equity 51,237,220 50,549,660
Total liabilities and shareholders' equity $ 671,127,708 $ 665,816,278