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Consolidated Balance Sheets (USD $)
Dec. 31, 2013
Dec. 31, 2012
Cash and due from banks (Note 2):    
Noninterest bearing deposits and cash $ 1,570,411 $ 2,736,486
Interest bearing deposits 33,295,470 67,567,155
Short-term investments   710,766
Total cash and cash equivalents 34,865,881 71,014,407
Securities    
Available for sale securities, at fair value (Note 3) 37,701,356 41,719,320
Other Investments 4,450,000 3,500,000
Federal Reserve Bank stock, at cost 1,444,300 1,730,200
Federal Home Loan Bank stock, at cost (Note 8) 4,142,600 4,343,800
Total securities 47,738,256 51,293,320
Loans receivable (net of allowance for loan losses: 2013: $5,680,689 2012: $6,015,636) (Notes 4 and 18) 418,148,323 458,793,536
Loans held for sale   1,527,299
Accrued interest and dividends receivable 1,566,415 1,894,292
Premises and equipment, net (Notes 5 and 9) 15,061,438 4,288,372
Cash surrender value of bank owned life insurance (Note 12) 22,024,770 21,501,703
Other real estate owned (Note 6) 0 4,873,844
Deferred tax asset, net of valuation allowance (Note 10)      
Other assets (Note 11) 1,843,043 2,580,118
Other branch related assets held for sale   88,244
Total assets 541,248,126 617,855,135
Deposits (Notes 7 and 18):    
Noninterest bearing deposits 55,358,161 61,459,959
Interest bearing deposits 374,845,921 411,117,558
Deposits held for sale 0 24,705,381
Total deposits 430,204,082 497,282,898
Borrowings (Note 8)    
Repurchase agreements   7,000,000
Federal Home Loan Bank borrowings 57,000,000 50,000,000
Total borrowings 57,000,000 57,000,000
Junior subordinated debt owed to unconsolidated trust (Note 8) 8,248,000 8,248,000
Accrued expenses and other liabilities 3,955,356 5,756,439
Total liabilities 499,407,438 568,287,337
Commitments and Contingencies (Notes 8, 9 and 15)      
Shareholders' equity (Notes 13 and 17)    
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: 38,786,680 shares issued; 38,774,975 shares outstanding. 2012: 38,491,819 shares issued; 38,480,114 shares outstanding 387,867 384,918
Additional paid-in capital 105,483,417 105,355,680
Accumulated deficit (62,683,941) (55,394,995)
Less: Treasury stock, at cost: 2013 and 2012 11,705 shares (160,025) (160,025)
Accumulated other comprehensive (loss) income (1,186,630) (617,780)
Total shareholders' equity 41,840,688 49,567,798
Total liabilities and shareholders' equity $ 541,248,126 $ 617,855,135