Foreclosed Assets

12 Months Ended

Dec. 31, 2011

Foreclosed Assets [Abstract]

Foreclosed Assets

Note 6. Foreclosed Assets

Foreclosed assets are presented net of a valuation allowance for losses. An analysis of the valuation allowance on foreclosed assets is shown below.

Years ended December 31,	2011			2010
Balance, beginning of year	$	342,740		$	31,500
Provision for losses		325,191			311,240
Charge-offs		(517,739	)		—
Balance, end of period	$	150,192		$	342,740

Expenses applicable to foreclosed assets include the following:

Years ended December 31,	2011		2010
Net loss (gain) on sales of real estate	$	110,028	$	(46,973	)
Provision for losses		325,191		311,240
Operating expenses, net of income		161,038		131,280
Total expenses	$	596,257	$	395,547