Loans

12 Months Ended

Dec. 31, 2013

Loans

Note 5. Loans

The following is a summary of the balances of loans including net unamortized deferred loan fees and other costs of $505,534 and $702,154 for December 31, 2013 and 2012, respectively:

	December 31, 2013			December 31, 2012
Mortgage loans on real estate:
Construction, Land and Land Development	$	31,838,883		$	29,024,294
Farmland		1,261,825			1,442,757
Commercial Mortgages (Non-Owner Occupied)		14,626,139			13,420,551
Commercial Mortgages (Owner Occupied)		34,177,314			33,634,384
Residential First Mortgages		114,457,561			106,455,040
Residential Revolving and Junior Mortgages		24,045,395			26,982,512
Commercial and Industrial loans		23,938,601			20,524,547
Consumer Loans		5,985,658			6,653,410
Total loans	$	250,331,376		$	238,137,495
Net unamortized deferred loans costs		505,534			702,154
Allowance for loan losses		(2,925,264	)		(3,093,623	)
Loans, net	$	247,911,646		$	235,746,026

The recorded investment in past due and non-accruing loans is shown in the following table. A loan past due by 90 days or more is generally placed on nonaccrual, unless it is both well secured and in the process of collection.

Loans Past Due and Nonaccruals December 31, 2013	30-89 Days Past Due		90 Days or More Past Due and Still Accruing		Nonaccruals		Total Past Due and Nonaccruals		Current		Total Loans
Mortgage Loans on Real Estate:
Construction, Land and Land Development	$	64,643	$	—	$	853,565	$	918,208	$	30,920,675	$	31,838,883
Farmland		—		—		—		—		1,261,825		1,261,825
Commercial Mortgages (Non-Owner Occupied)		—		—		—		—		14,626,139		14,626,139
Commercial Mortgages (Owner Occupied)		—		—		426,737		426,737		33,750,577		34,177,314
Residential First Mortgages		667,987		—		1,083,302		1,751,289		112,706,272		114,457,561
Residential Revolving and Junior Mortgages		108,113		—		76,110		184,223		23,861,172		24,045,395
Commercial and Industrial		15,788		—		310,929		326,717		23,611,884		23,938,601
Consumer Loans		60,152		18,710		3,243		82,105		5,903,553		5,985,658
Total	$	916,683	$	18,710	$	2,753,886	$	3,689,279	$	246,642,097	$	250,331,376
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
Mortgage Loans on Real Estate:
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		103,014,769		106,455,040
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	$	231,157,505	$	238,137,495