Loans

3 Months Ended

Mar. 31, 2012

Loans [Abstract]

Loans

Note 3: Loans

The following is a summary of the balances of loans:

	March 31, 2012			December 31, 2011
	(unaudited)
Mortgage loans on real estate:
Construction, Land and Land Development	$	29,057,945		$	27,642,280
Farmland		1,505,710			1,526,050
Commercial Mortgages (Non-Owner Occupied)		18,165,867			16,198,584
Commercial Mortgages (Owner Occupied)		28,354,611			27,845,596
Residential First Mortgages		109,368,242			107,638,735
Residential Junior Mortgages		28,962,792			28,526,008
Commercial and Industrial loans		18,916,498			18,983,332
Consumer Loans		7,657,235			8,329,237
Total loans	$	241,988,900		$	236,689,822
Allowance for loan losses		(3,308,257	)		(3,188,541	)
Loans, net	$	238,680,643		$	233,501,281

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.

		0000000		0000000		0000000		0000000		0000000		0000000		0000000
Loans Past Due and Nonaccruals March 31, 2012 (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	$	426,549	$	476,076	$	—	$	500,800	$	1,403,425	$	27,654,520	$	29,057,945
Farmland		—		—		—		—		—		1,505,710		1,505,710
Commercial Mortgages (Non-Owner Occupied)		—		—		—		384,006		384,006		17,781,861		18,165,867
Commercial Mortgages (Owner Occupied)		627,410		196,706		109,387		651,306		1,584,809		26,769,802		28,354,611
Residential First Mortgages		706,201		870,074		—		2,017,575		3,593,850		105,774,392		109,368,242
Residential Junior Mortgages		145,935		—		—		1,762,227		1,908,162		27,054,630		28,962,792
Commercial and Industrial		265,940		—		—		742,720		1,008,660		17,907,838		18,916,498
Consumer Loans		95,395		6,077		7,329		492,285		601,086		7,056,149		7,657,235
Total	$	2,267,430	$	1,548,933	$	116,716	$	6,550,919	$	10,483,998	$	231,504,902	$	241,988,900

		0000000		0000000		0000000		0000000		0000000		0000000		0000000
Loans Past Due and Nonaccruals December 31, 2011	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	$	—	$	93,287	$	—	$	534,037	$	627,324	$	27,014,956	$	27,642,280
Farmland		—		—		—		—		—		1,526,050		1,526,050
Commercial Mortgages (Non-Owner Occupied)		—				—		384,168		384,168		15,814,416		16,198,584
Commercial Mortgages (Owner Occupied)		—		—		—		256,749		256,749		27,588,847		27,845,596
Residential First Mortgages		128,632		92,503		—		1,666,779		1,887,914		105,750,821		107,638,735
Residential Junior Mortgages		29,712		—		—		1,741,286		1,770,998		26,755,010		28,526,008
Commercial and Industrial		43,364		—		—		742,720		786,084		18,197,248		18,983,332
Consumer Loans		56,272		466,560		60,090		90,933		673,855		7,655,382		8,329,237
Total	$	257,980	$	652,350	$	60,090	$	5,416,672	$	6,387,092	$	230,302,730	$	236,689,822