FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Assets measured at fair value on a recurring basis are summarized below as of the periods ended June 30, 2012 and December 31, 2011:

 

			Fair Value Measurements Using
			Quoted Prices		Significant
			in Active		Other		Significant
			Markets for		Observable		Unobservable
			Identical Assets		Inputs		Inputs
June 30, 2012	Total		(Level 1)		(Level 2)		(Level 3)
Available for sale securities:
US Treasury	$	5,603,515	$	5,603,515	$	0	$	0
US Government and
federal agency		18,781,514		0		18,781,514		0
Municipals		2,363,907		0		2,363,907		0
Mortgage-backed and
collateralized mortgage
obligations– residential		10,132,778		0		10,132,778		0
Total	$	36,881,714	$	5,603,515	$	31,278,199	$	0
Servicing assets	$	41,324	$	0	$	41,324	$	0
December 31, 2011
Available for sale securities:
US Treasury	$	4,067,656	$	4,067,656	$	0	$	0
US Government and
federal agency		15,572,588		0		15,572,588		0
Municipals		2,891,420		0		2,891,420		0
Mortgage-backed and
collateralized mortgage
obligations– residential		12,040,439		0		12,040,439		0
Total	$	34,572,103	$	4,067,656	$	30,504,447	$	0
Servicing assets	$	76,276	$	0	$	76,276	$	0

Fair Value Measurements, Nonrecurring [Table Text Block]

Assets measured at fair value on a non-recurring basis are summarized below as of the periods ended June 30, 2012 and December 31, 2011.  Impaired loans and foreclosed assets are included if the fair value of such assets was revised during the quarterly period then ended.

			Significant
			Unobservable Inputs
	Total		(Level 3)
June 30, 2012
Impaired loans:
Commercial	$	284,037	$	284,037
Commercial Real Estate:
General		0		0
Construction		91,835		91,835
Consumer:
Lines of credit		374		374
Other		97		97
Residential		388,606		388,606
Total	$	764,949	$	764,949
Foreclosed assets:
Commercial Real Estate:
General	$	1,319,449	$	1,319,449
Residential		73,238		73,238
Total	$	1,392,687	$	1,392,687
December 31, 2011
Impaired loans:
Commercial	$	19,686	$	19,686
Commercial Real Estate:
General		3,871,595		3,871,595
Construction		160,276		160,276
Consumer:
Lines of credit		48,269		48,269
Other		0		0
Residential		198,244		198,244
Total	$	4,298,070	$	4,298,070
Foreclosed assets:
Commercial Real Estate:
General	$	570,069	$	570,069
Construction		6,160		6,160
Residential		204,668		204,668
Total	$	780,897	$	780,897

Fair Value Inputs, Assets, Quantitative Information [Table Text Block]

The following table presents information as of June 30, 2012 about significant unobservable inputs related to the Bank’s individually material Level 3 financial assets, by class, measured on a nonrecurring basis:

			Valuation	Significant Unobservable	Range		Weighted
	Fair Value		Technique (s)	Inputs	of Inputs		Average
June 30, 2012
Foreclosed assets:
Commercial Real Estate:
				Adjustments for differences between
General	$	773,919	Sales comparison approach	the comparable sales	(50.0)	- 9.4%	(26.4)	%
				Adjustments for differences in net
			Income approach	operating income expectations	10.0	%	10.0	%
Total	$	773,919

Fair Value, by Balance Sheet Grouping [Table Text Block]

The carrying amounts and estimated fair values of financial instruments not previously presented above are as follows:

			Fair Value Measurements								December 31,
			at June 30, 2012 Using								2011
	Carrying										Carrying		Fair
	Amount		Level 1		Level 2		Level 3		Total		Amount		Value
	(in thousands)
Financial assets
Cash and cash equivalents	$	18,444	$	18,444	$	0	$	0	$	18,444	$	8,920	$	8,920
Loans held for sale		6,070		0		6,224		0		6,224		5,535		5,940
Loans, net (including impaired)		128,053		0		0		123,027		123,027		144,359		139,176
FHLB stock		451		N/A		N/A		N/A		N/A		451		N/A
Accrued interest receivable		649		18		160		471		649		746		746
Financial liabilities
Deposits		183,618		83,705		99,977		0		183,682		191,545		193,775
Federal funds purchased and
repurchase agreements		10,994		0		10,994		0		10,994		7,815		7,815
Subordinated debentures		4,500		0		0		1,125		1,125		4,500		1,125
Notes payable		5,000		0		0		900		900		5,000		500
Accrued interest payable		946		5		68		66		139		738		130