Note 3: Loans

The following is a summary of the balances of loans:


	September 30, 2011			December 31, 2010
	(unaudited)
Mortgage loans on real estate:
Construction, Land and Land Development	$	27,816,684		$	30,620,370
Farmland		1,546,095			1,603,519
Commercial Mortgages (Non-Owner Occupied)		15,061,206			12,787,559
Commercial Mortgages (Owner Occupied)		28,487,396			29,430,716
Residential First Mortgages		108,081,063			115,530,317
Residential Junior Mortgages		29,325,999			30,943,025
Commercial and Industrial loans		19,003,194			17,591,891
Consumer Loans		8,312,784			8,865,605

Total loans	$	237,634,421		$	247,373,002
Allowance for loan losses		(3,323,877	)		(3,230,677	)


Loans, net	$	234,310,544		$	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 September 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	$	125,097	$	291,022	$	—	$	342,618	$	758,737	$	27,057,947	$	27,816,684
Farmland		—		—		—		—		—		1,546,095		1,546,095
Commercial Mortgages (Non-Owner Occupied)		—		—		318,418		65,750		384,168		14,677,038		15,061,206
Commercial Mortgages (Owner Occupied)		—		—		—		256,749		256,749		28,230,647		28,487,396
Residential First Mortgages		1,057,138		449,535		190,127		1,167,227		2,864,027		105,217,036		108,081,063
Residential Junior Mortgages		39,849		—		432,123		1,509,783		1,981,755		27,344,244		29,325,999
Commercial and Industrial		—		10,868		—		888,909		899,777		18,103,417		19,003,194
Consumer Loans		29,738		33,018		18,509		116,632		197,897		8,114,887		8,312,784

Total	$	1,251,822	$	784,443	$	959,177	$	4,347,668	$	7,343,110	$	230,291,311	$	237,634,421


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