Note 12 – Commitments

9 Months Ended

Sep. 30, 2011

Commitments and Contingencies Disclosure [Text Block]

Note 12 – Commitments

Commitments to extend credit are agreements to lend as long as there is no violation of any condition established in the contract.  Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee.  Since commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements.  These commitments represent no more than normal lending risk that the Bank commits to its borrowers and management believes that these commitments can be funded through normal operations.

Commitments to extend credit at the respective periods are as follows:

	September 30, 2011		December 31, 2010
	(Dollars in thousands)
Loan commitments
Residential mortgage loans	$	27,849	$	14,530
Non-residential mortgage loans		10,144		2,500
Commercial loans		3,085		731
Consumer loans		1,283		765
Total loan commitments	$	42,361	$	18,526
Unused lines of credit
Commercial	$	18,856	$	13,000
Consumer		75,231		73,655
Total unused lines of credit	$	94,087	$	86,655
Undisbursed Construction Loan Proceeds	$	1,200	$	524