Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2012

Fair Value Measurements [Abstract]

Balance of financial assets and liabilities measured at fair value on a recurring basis

The following table presents the balances of financial assets measured at fair value on a recurring basis as of December 31, 2012 and 2011:

			Fair Value Measurements at December 31, 2012 Using
Description	Balance as of December 31, 2012		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
U. S. Government agencies	$	9,463,815	$	—	$	9,463,815	$	—
State and municipal obligations		25,249,528		—	$	25,249,528		—
Certificates of deposits		1,987,177		—	$	1,987,177		—

			Fair Value Measurements at December 31, 2011 Using
Description	Balance as of December 31, 2011		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level  3)
U. S. Government agencies	$	8,795,006	$	—	$	8,795,006	$	—
State and municipal obligations		33,004,055		—	$	33,004,055		—

Summary of Company's assets measured at fair value on a nonrecurring basis

The following table summarizes the Company’s assets that were measured at fair value on a nonrecurring basis during the period.

			Fair Value Measurements at December 31, 2012 Using
Description	Balance as of December 31, 2012		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)	Significant Unobservable Inputs (Level  3)
Impaired Loans, net of valuation allowance	$	3,308,074	$	—	$	$	3,308,074
Other real estate owned	$	3,151,346	$	—	$	$	3,151,346

			Fair Value Measurements at December 31, 2011 Using
Description	Balance as of December 31, 2011		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level  3)
Impaired Loans, net of valuation allowance	$	4,310,746	$	—	$	—	$	4,310,746
Other real estate owned	$	2,279,935	$	—	$		$	2,279,935

Estimated fair values of financial instruments

The estimated fair values of financial instruments are shown in the following table. The carrying amounts in the table are included in the balance sheets under the applicable captions.

			Fair Value Measurements at December 31, 2012 Using
Description	Balance as of December 31, 2012		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level  3)
Financial Assets:
Cash and due from banks	$	4,757,889	$	4,757,889	$		$
Interest-bearing deposits		35,166,448		35,166,448
Federal funds sold		48,009		48,009
Securities available-for-sale		36,700,520				36,700,520
Restricted securities		1,584,700						1,584,700
Loans, net		236,144,526						244,708,821
Accrued interest receivable		1,070,763				1,070,763
Financial Liabilities:
Non-interest-bearing liabilities	$	50,467,907	$	50,467,907
Savings and other interest-bearing deposits		117,954,879		117,954,879
Time deposits		106,751,785						109,449,974
Securities sold under repurchase agreements		6,459,839				6,459,839
FHLB advances		15,000,000				16,483,342
Accrued interest payable		156,812				156,812

			Fair Value Measurements at December 31, 2011 Using
Description	Balance as of December 31,2011		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level  3)
Financial Assets:
Cash and due from banks	$	4,728,895	$	4,728,895	$		$
Interest-bearing deposits		10,369,075		10,369,075
Federal funds sold		2,136,375		2,136,375
Securities available-for-sale		41,799,121				41,799,121
Restricted securities		1,991,200						1,991,200
Loans, net		233,501,821						233,935,079
Accrued interest receivable		1,161,191				1,161,191
Financial Liabilities:
Non-interest-bearing liabilities	$	43,803,349	$	43,803,349	$		$
Savings and other interest-bearing deposits		105,269,889		105,269,889
Time deposits		116,444,867						118,668,679
Securities sold under repurchase agreements		5,277,158				5,277,158
FHLB advances		15,000,000				16,651,084
Accrued interest payable		168,628				168,628