Loans

9 Months Ended

Sep. 30, 2012

Loans [Abstract]

Loans

Note 3: Loans

The following is a summary of the balances of loans:

	September 30, 2012			December 31, 2011
	(unaudited)
Mortgage loans on real estate:
Construction, Land and Land Development	$	28,389,132		$	27,642,280
Farmland		1,464,100			1,526,050
Commercial Mortgages (Non-Owner Occupied)		13,445,019			16,198,584
Commercial Mortgages (Owner Occupied)		33,525,732			27,845,596
Residential First Mortgages		110,342,934			107,638,735
Residential Junior Mortgages		28,631,567			28,526,008
Commercial and Industrial loans		20,436,468			18,983,332
Consumer Loans		6,591,199			8,329,237
Total loans	$	242,826,151		$	236,689,822
Allowance for loan losses		(3,337,664	)		(3,188,541	)
Loans, net	$	239,488,487		$	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.

						90 Days or More Past Due and Still Accruing
Loans Past Due and Nonaccruals	30-59 Days Past Due		60-89 Days Past Due				Nonaccruals		Total Past Due and Nonaccruals		Current		Total Loans
September 30, 2012 (unaudited)
Construction, Land and Land Development	$	250,647	$	—	$	—	$	262,245	$	512,892	$	27,876,240	$	28,389,132
Farmland		—		—		—		—		—		1,464,100		1,464,100
Commercial Mortgages (Non-Owner Occupied)		—		—		—		318,418		318,418		13,126,601		13,445,019
Commercial Mortgages (Owner Occupied)		—		172,925		—		902,608		1,075,533		32,450,199		33,525,732
Residential First Mortgages		284,466		145,871		—		3,299,609		3,729,946		106,612,987		110,342,934
Residential Junior Mortgages		128,313		—		47,943		1,763,287		1,939,543		26,692,024		28,631,567
Commercial and Industrial		—		—		—		445,386		445,386		19,991,083		20,436,468
Consumer Loans		44,998		5,578		6,046		—		56,622		6,534,577		6,591,199
Total	$	708,424	$	324,374	$	53,989	$	6,991,553	$	8,078,340	$	234,747,811	$	242,826,151
Loans Past Due and Nonaccruals	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
December 31, 2011
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