Loans

6 Months Ended

Jun. 30, 2011

Loans

Loans

Note 3: Loans

The following is a summary of the balances of loans:

	June 30, 2011			December 31, 2010
	(unaudited)
Mortgage loans on real estate:
Construction, Land and Land Development	$	28,681,177		$	30,620,370
Farmland		1,565,749			1,603,519
Commercial Mortgages (Non-Owner Occupied)		13,738,304			12,787,559
Commercial Mortgages (Owner Occupied)		28,692,533			29,430,716
Residential First Mortgages		110,029,330			115,530,317
Residential Junior Mortgages		29,762,265			30,943,025
Commercial and Industrial loans		16,706,807			17,591,891
Consumer Loans		8,340,651			8,865,605
Total loans	$	237,516,816		$	247,373,002
Allowance for loan losses		(3,317,105	)		(3,230,677	)
Loans, net	$	234,199,711		$	244,142,325

The recorded investment in past due and nonaccruing loans is shown in the following table. A loan past due by more than 90 days is generally placed on nonaccrual unless it is both well secured and in the process of collection.

Loans Past Due and Nonaccruals June 30, 2011 (unaudited)	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due and Still Accruing		Nonaccruals		Total Past Due and Nonaccruals		Current		Total Loans
Construction, Land and Land Development	$	—	$	—	$	—	$	405,735	$	405,735	$	28,275,442	$	28,681,177
Farmland		—		—		—		—		—		1,565,749		1,565,749
Commercial Mortgages (Non-Owner Occupied)		—		318,418		—		65,750		384,168		13,354,136		13,738,304
Commercial Mortgages (Owner Occupied)		—		—		—		424,249		424,249		28,268,284		28,692,533
Residential First Mortgages		647,960		641,097		—		1,295,266		2,584,323		107,445,007		110,029,330
Residential Junior Mortgages		96,614		391,088		—		1,572,134		2,059,836		27,702,429		29,762,265
Commercial and Industrial		18,834		—		—		657,274		676,108		16,030,699		16,706,807
Consumer Loans		33,650		15,998		3,006		125,925		178,579		8,162,072		8,340,651
Total	$	797,058	$	1,366,601	$	3,006	$	4,546,333	$	6,712,998	$	230,803,818	$	237,516,816
Loans Past Due and Nonaccruals December 31, 2010	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due and Still Accruing		Nonaccruals		Total Past Due and Nonaccruals		Current		Total Loans
Construction, Land and Land Development	$	—	$	96,153	$	—	$	342,618	$	438,771	$	30,181,599	$	30,620,370
Farmland		—		—		—		—		—		1,603,519		1,603,519
Commercial Mortgages (Non-Owner Occupied)		318,043		—		—		1,356,108		1,674,151		11,113,408		12,787,559
Commercial Mortgages (Owner Occupied)		—		—		—		424,249		424,249		29,006,467		29,430,716
Residential First Mortgages		1,694,757		281,878		—		2,174,010		4,150,645		111,379,672		115,530,317
Residential Junior Mortgages		370,812		—		730		1,169,919		1,541,461		29,401,564		30,943,025
Commercial and Industrial		408,738		—		198,606		65,001		672,345		16,919,546		17,591,891
Consumer Loans		667,355		5,984		3,013		42,104		718,456		8,147,149		8,865,605
Total	$	3,459,705	$	384,015	$	202,349	$	5,574,009	$	9,620,078	$	237,752,924	$	247,373,002