|
SECURITIES AVAILABLE FOR SALE (Tables)
|
12 Months Ended |
|
Dec. 31, 2012
|
| Investments, Debt and Equity Securities [Abstract] |
|
| Available-for-sale Securities [Table Text Block] |
The fair value of available for sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows:
| | | | | | Gross | | Gross | | | | | | | | Amortized | | Unrealized | | Unrealized | | Fair | | | | | Cost | | Gains | | Losses | | Value | | | 2012 | | | | | | | | | | | | | | | US Treasury | | $ | 4,044,909 | | $ | 49,623 | | $ | 0 | | $ | 4,094,532 | | | US Government and federal agency | | | 20,013,843 | | | 250,523 | | | (4,623) | | | 20,259,743 | | | Municipals | | | 2,260,272 | | | 73,469 | | | 0 | | | 2,333,741 | | | Mortgage-backed and collateralized | | | | | | | | | | | | | | | mortgage obligations– residential | | | 14,539,668 | | | 264,090 | | | (31,378) | | | 14,772,380 | | | | | $ | 40,858,692 | | $ | 637,705 | | $ | (36,001) | | $ | 41,460,396 | | | 2011 | | | | | | | | | | | | | | | US Treasury | | $ | 4,041,881 | | $ | 25,775 | | $ | 0 | | $ | 4,067,656 | | | US Government and federal agency | | | 15,341,362 | | | 239,037 | | | (7,811) | | | 15,572,588 | | | Municipals | | | 2,767,463 | | | 123,957 | | | 0 | | | 2,891,420 | | | Mortgage-backed and collateralized | | | | | | | | | | | | | | | mortgage obligations– residential | | | 11,733,141 | | | 317,565 | | | (10,267) | | | 12,040,439 | | | | | $ | 33,883,847 | | $ | 706,334 | | $ | (18,078) | | $ | 34,572,103 | | |
| Investments Classified by Contractual Maturity Date [Table Text Block] |
The fair value of debt securities and carrying amount, if different, at year-end 2012 by contractual maturity were as follows. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately:
| | | Amortized | | Fair | | | 2012 | | Cost | | Value | | | Due in one year or less | | $ | 5,027,276 | | $ | 5,068,722 | | | Due from one to five years | | | 20,229,055 | | | 20,505,372 | | | Due from five to ten years | | | 1,062,693 | | | 1,113,922 | | | Due in more than ten years | | | 0 | | | 0 | | | Mortgage-backed and collateralized mortgage obligations – residential | | | 14,539,668 | | | 14,772,380 | | | | | $ | 40,858,692 | | $ | 41,460,396 | | |
| Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] |
Securities with unrealized losses not recognized in income at year-end 2012 and 2011, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position are as follows:
| | | Less than 12 Months | | 12 Months or Longer | | Total | | | | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | | 2012 | | Value | | Losses | | Value | | Losses | | Value | | Losses | | | US Government and federal agency | | $ | 3,050,187 | | $ | (4,623) | | $ | 0 | | $ | 0 | | $ | 3,050,187 | | $ | (4,623) | | | Mortgage-backed and collateralized mortgage obligations - residential | | | 3,882,818 | | | (21,580) | | | 269,692 | | | (9,798) | | | 4,152,510 | | | (31,378) | | | | | $ | 6,933,005 | | $ | (26,203) | | $ | 269,692 | | $ | (9,798) | | $ | 7,202,697 | | $ | (36,001) | |
| | | Less than 12 Months | | 12 Months or Longer | | Total | | | | | Fair | | Unrealized | | Fair | | Unrealized | | Fair | | Unrealized | | | 2011 | | Value | | Losses | | Value | | Losses | | Value | | Losses | | | US Government and federal agency | | $ | 2,060,693 | | $ | (7,811) | | $ | 0 | | $ | 0 | | $ | 2,060,693 | | $ | (7,811) | | | Mortgage-backed and collateralized mortgage obligations - residential | | | 817,615 | | | (4,240) | | | 1,215,921 | | | (6,027) | | | 2,033,536 | | | (10,267) | | | | | $ | 2,878,308 | | $ | (12,051) | | $ | 1,215,921 | | $ | (6,027) | | $ | 4,094,229 | | $ | (18,078) | | |