Consolidated Balance Sheets (Unaudited) (USD $)
Jun. 30, 2012
Dec. 31, 2011
Assets    
Cash and due from banks $ 23,271,435 $ 55,557,541
Federal funds sold 3,834,563 7,228,475
Total cash and cash equivalents 27,105,998 62,786,016
Investment securities available for sale 36,696,282 30,163,292
Loans held for sale 19,729,508 16,168,405
Loans    
Outstandings 393,035,350 427,870,716
Allowance for loan losses (14,865,722) (16,071,424)
Deferred fees 751,748 767,775
Loans, net 378,921,376 412,567,067
Premises and equipment, net 26,286,493 26,826,524
Accrued interest receivable 1,910,147 2,046,524
Bank owned life insurance 6,159,335 6,065,305
Other real estate owned 17,677,080 9,177,167
Restricted equity securities 2,767,886 2,989,286
Other assets 7,208,307 12,914,733
Total Assets 524,462,412 581,704,319
Deposits    
Noninterest bearing demand 64,348,408 66,534,956
Interest bearing 386,071,500 418,986,096
Total deposits 450,419,908 485,521,052
Federal Home Loan Bank advances 29,000,000 37,750,000
Long-term debt - trust preferred securities 8,764,000 8,764,000
Other borrowings 5,062,344 5,778,661
Accrued interest payable 703,817 592,283
Other liabilities 5,458,402 7,050,681
Total liabilities 499,408,471 545,456,677
Stockholders' equity    
Preferred stock, $4 par value, $1,000 liquidation preference 1,000,000 shares authorized, 14,738 shares issued and outstanding1,000,000 shares authorized, 14,738 shares issued and outstanding 58,952 58,952
Common stock, $4 par value - 10,000,000 shares issued and outstanding 4,251,795 shares issued and outstanding at June 30, 2012 4,243,378 shares issued and outstanding at December 31, 2011 17,007,180 16,973,512
Additional paid-in capital 40,704,021 40,732,178
Retained earnings (deficit) (33,438,097) (21,895,557)
Preferred stock warrant 732,479 732,479
Discount on preferred stock (272,921) (346,473)
Accumulated other comprehensive income (loss) 262,327 (7,449)
Total stockholders' equity 25,053,941 36,247,642
Total liabilities and stockholders' equity $ 524,462,412 $ 581,704,319