SHORT-TERM BORROWINGS

6 Months Ended

Jun. 30, 2012

Debt Disclosure [Abstract]

Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block]

8. SHORT-TERM BORROWINGS

The Company’s short-term borrowings consist of repurchase agreements and less frequently borrowings from the FRB Discount Window. There have been no borrowings from the FRB Discount Window since January 2010. The June 30, 2012 and December 31, 2011 short-term borrowing information was as follows:

	Repurchase
	Agreements
Outstanding at June 30, 2012	$	10,993,728
Average interest rate at period end		0.72	%
Average balance during period		10,199,796
Average interest rate during period		0.77	%
Maximum month end balance during period		12,037,087
Outstanding at December 31, 2011	$	7,814,745
Average interest rate at year-end		0.71	%
Average balance during year		9,626,125
Average interest rate during year		0.76	%
Maximum month end balance during year		11,986,254