Loans

3 Months Ended

Mar. 31, 2013

Loans [Abstract]

Loans

Note 3: Loans

The following is a summary of the balances of loans:

	March 31, 2013			December 31, 2012
	(unaudited)
Mortgage loans on real estate:
Construction, Land and Land Development	$	28,565,493		$	29,024,294
Farmland		1,421,060			1,442,757
Commercial Mortgages (Non-Owner Occupied)		13,511,592			13,420,551
Commercial Mortgages (Owner Occupied)		34,088,111			33,634,384
Residential First Mortgages		106,587,625			107,555,694
Residential Revolving and Junior Mortgages		26,588,765			26,982,512
Commercial and Industrial loans		17,876,966			20,524,547
Consumer Loans		6,236,323			6,653,410
Total loans	$	234,875,935		$	239,238,149
Allowance for loan losses		(3,034,407	)		(3,093,623	)
Loans, net	$	231,841,528		$	236,144,526

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.

Loans Past Due and Nonaccruals March 31, 2013 (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	$	47,483	$	251,165	$	108,861	$	647,647	$	1,055,156	$	27,510,337	$	28,565,493
Farmland		—		—		—		—		—		1,421,060		1,421,060
Commercial Mortgages (Non-Owner Occupied)		—				—		—		—		13,511,592		13,511,592
Commercial Mortgages (Owner Occupied)		—		167,066		—		803,210		970,276		33,117,835		34,088,111
Residential First Mortgages		402,205		756,367		161,638		2,040,208		3,360,418		103,227,207		106,587,625
Residential Revolving and Junior Mortgages		295,524		27,911		9,643		1,144,945		1,478,023		25,110,742		26,588,765
Commercial and Industrial		3,150		—		—		36,897		40,047		17,836,919		17,876,966
Consumer Loans		476		—		—		3,638		4,114		6,232,209		6,236,323
Total	$	748,838	$	1,202,509	$	280,142	$	4,676,545	$	6,908,034	$	227,967,901	$	234,875,935

Loans Past Due and Nonaccruals December 31, 2012	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	$	108,861	$	122,005	$	—	$	655,397	$	886,263	$	28,138,031	$	29,024,294
Farmland		—		—		—		—		—		1,442,757		1,442,757
Commercial Mortgages (Non-Owner Occupied)		—				—		318,418		318,418		13,102,133		13,420,551
Commercial Mortgages (Owner Occupied)		—		—		71,254		819,467		890,721		32,743,663		33,634,384
Residential First Mortgages		608,471		153,510		502		2,677,788		3,440,271		104,115,423		107,555,694
Residential Revolving and Junior Mortgages		8,303		9,778		—		1,257,915		1,275,996		25,706,516		26,982,512
Commercial and Industrial		10,003		90,883		50,075		—		150,961		20,373,586		20,524,547
Consumer Loans		12,193		—		3,688		1,479		17,360		6,636,050		6,653,410
Total	$	747,831	$	376,176	$	125,519	$	5,730,464	$	6,979,990	$	232,258,159	$	239,238,149