LOANS

9 Months Ended

Sep. 30, 2012

Receivables [Abstract]

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

3. LOANS

Outstanding loan balances by portfolio segment and class were as follows:

	September 30, 2012		December 31, 2011
Commercial	$	39,563,877	$	50,062,289
Commercial Real Estate:
General		49,555,123		59,985,723
Construction		5,841,732		6,425,041
Consumer:
Lines of credit		9,822,404		13,376,689
Other		2,086,026		2,370,625
Credit card		505,688		527,858
Residential		17,907,033		16,942,989
		125,281,883		149,691,214
Less: Allowance for loan losses		(3,603,407)		(5,299,454)
Net deferred loan fees		(47,252)		(32,283)
Loans, net	$	121,631,224	$	144,359,477