SHORT-TERM BORROWINGS (Tables)

3 Months Ended

Mar. 31, 2013

Debt Disclosure [Abstract]

Schedule of Repurchase Agreements [Table Text Block]

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 March 31, 2013 and December 31, 2012 short-term borrowing information was as follows:

	Repurchase
	Agreements
Outstanding at March 31, 2013	$	10,174,229
Average interest rate at period end		0.60	%
Average balance during period		10,117,007
Average interest rate during period		0.60	%
Maximum month end balance during period		10,878,256
Outstanding at December 31, 2012	$	10,190,059
Average interest rate at year-end		0.59	%
Average balance during year		9,241,260
Average interest rate during year		0.75	%
Maximum month end balance during year		12,037,087