Foreclosed Assets

12 Months Ended

Dec. 31, 2012

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,	2012			2011
Balance, beginning of year	$	150,192		$	342,740
Provision for losses		505,766			325,191
Charge-offs		(94,200	)		(517,739	)
Balance, end of period	$	561,758		$	150,192

Expenses applicable to foreclosed assets include the following:

Years ended December 31,	2012		2011
Net loss on sales of real estate	$	230,839	$	110,028
Provision for losses		505,766		325,191
Operating expenses, net of income		186,161		161,038
Total expenses	$	922,766	$	596,257