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Consolidated Balance Sheets (USD $)
Mar. 31, 2013
Dec. 31, 2012
Cash and due from banks:    
Noninterest bearing deposits and cash $ 3,338,200 $ 2,736,486
Interest bearing deposits 57,714,304 67,567,155
Short-term investments 711,024 710,766
Total cash and cash equivalents 61,763,528 71,014,407
Securities:    
Available for sale securities, at fair value (Note 2) 41,105,130 41,719,320
Other Investments 3,500,000 3,500,000
Federal Reserve Bank stock, at cost 1,693,750 1,730,200
Federal Home Loan Bank stock, at cost 4,142,600 4,343,800
Total securities 50,441,480 51,293,320
Loans receivable (net of allowance for loan losses: 2013: $5,717,148 2012: $6,015,636) (Note 3) 455,941,164 458,793,536
Loans held for sale 6,551,648 1,527,299
Accrued interest and dividends receivable 1,886,436 1,894,292
Premises and equipment, net 4,246,274 4,288,372
Cash surrender value of life insurance 21,628,812 21,501,703
Other real estate owned 3,764,640 4,873,844
Deferred tax asset (Note 6)      
Other assets 2,538,163 2,580,118
Other branch related assets held for sale 80,445 88,244
Total assets 608,842,590 617,855,135
Deposits (Note 4):    
Noninterest bearing deposits 57,081,233 61,459,959
Interest bearing deposits 413,676,955 411,117,558
Deposits held for sale 20,928,103 24,705,381
Total deposits 491,686,291 497,282,898
Borrowings:    
Repurchase agreements 7,000,000 7,000,000
Federal Home Loan Bank borrowings 50,000,000 50,000,000
Total borrowings 57,000,000 57,000,000
Junior subordinated debt owed to unconsolidated trust 8,248,000 8,248,000
Accrued expenses and other liabilities 4,234,856 5,756,439
Total liabilities 561,169,147 568,287,337
Commitments and Contingencies (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; 2013 & 2012: 38,491,819 shares issued; 38,480,114, shares outstanding 384,918 384,918
Additional paid-in capital 105,363,331 105,355,680
Accumulated deficit (57,351,962) (55,394,995)
Less: Treasury stock, at cost: 2013 and 2012 11,705 shares (160,025) (160,025)
Accumulated other comprehensive loss (562,819) (617,780)
Total shareholders' equity 47,673,443 49,567,798
Total liabilities and shareholders' equity $ 608,842,590 $ 617,855,135