Loans

6 Months Ended

Jun. 30, 2013

Receivables [Abstract]

Loans

Note 5: Loans

The following is a summary of the balances of loans:

	June 30, 2013			December 31, 2012
	(unaudited)
Mortgage loans on real estate:
Construction, Land and Land Development	$	27,485,747		$	29,024,294
Farmland		1,348,947			1,442,757
Commercial Mortgages (Non-Owner Occupied)		13,536,438			13,420,551
Commercial Mortgages (Owner Occupied)		34,168,786			33,634,384
Residential First Mortgages		107,447,034			107,555,694
Residential Revolving and Junior Mortgages		27,229,262			26,982,512
Commercial and Industrial loans		17,072,727			20,524,547
Consumer Loans		6,561,752			6,653,410
Total loans	$	234,850,693		$	239,238,149
Allowance for loan losses		(2,983,147	)		(3,093,623	)
Loans, net	$	231,867,546		$	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 June 30, 2013 (unaudited)	30-89 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	$	176,569	$	—	$	848,496	$	1,025,065	$	26,460,682	$	27,485,747
Farmland		—		—		—		—		1,348,947		1,348,947
Commercial Mortgages (Non-Owner Occupied)		—		—		—		—		13,536,438		13,536,438
Commercial Mortgages (Owner Occupied)		—		—		167,980		167,980		34,000,806		34,168,786
Residential First Mortgages		1,233,737		302		482,254		1,716,293		105,730,741		107,447,034
Residential Revolving and Junior Mortgages		40,869		19,830		943,967		1,004,666		26,224,596		27,229,262
Commercial and Industrial		9,560		—		—		9,560		17,063,167		17,072,727
Consumer Loans		56,464		24,942		3,588		84,994		6,476,758		6,561,752
Total	$	1,517,199	$	45,074	$	2,446,285	$	4,008,558	$	230,842,135	$	234,850,693

Loans Past Due and Nonaccruals December 31, 2012	30-89 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	$	230,866	$	—	$	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		761,981		502		2,677,788		3,440,271		104,115,423		107,555,694
Residential Revolving and Junior Mortgages		18,081		—		1,257,915		1,275,996		25,706,516		26,982,512
Commercial and Industrial		100,886		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	$	1,124,007	$	125,519	$	5,730,464	$	6,979,990	$	232,258,159	$	239,238,149

Nonaccruals that are not 90 days or more past due are $926,553 at June 30, 2013 and $2,831,579 at December 31, 2012.