FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2013

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 March 31, 2013 and December 31, 2012:

			Fair Value Measurements Using
			Quoted Prices		Significant
			in Active		Other		Significant
			Markets for		Observable		Unobservable
			Identical Assets		Inputs		Inputs
March 31, 2013	Total		(Level 1)		(Level 2)		(Level 3)
Available for sale securities:
US Treasury	$	3,086,016	$	3,086,016	$	0	$	0
US Government and federal agency		19,187,630		0		19,187,630		0
Municipals		2,321,086		0		2,321,086		0
Mortgage-backed and collateralized mortgage obligations– residential		13,853,848		0		13,853,848		0
Total	$	38,448,580	$	3,086,016	$	35,362,564	$	0

Servicing assets	$	40,741	$	0	$	40,741	$	0

December 31, 2012
Available for sale securities:
US Treasury	$	4,094,532	$	4,094,532	$	0	$	0
US Government and federal agency		20,259,743		0		20,259,743		0
Municipals		2,333,741		0		2,333,741		0
Mortgage-backed and collateralized mortgage obligations– residential		14,772,380		0		14,772,380		0
Total	$	41,460,396	$	4,094,532	$	37,365,864	$	0

Servicing assets	$	41,650	$	0	$	41,650	$	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 March 31, 2013 and December 31, 2012. 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)
March 31, 2013
Impaired loans:
Commercial	$	132,798	$	132,798
Commercial Real Estate:
General		851,530		851,530
Consumer:
Lines of credit		42		42
Other		22,561		22,561
Residential		68,590		68,590
Total	$	1,075,521	$	1,075,521
Foreclosed assets:
Commercial Real Estate:
General	$	737,294	$	737,294
Residential		154,250		154,250
Total	$	891,544	$	891,544

December 31, 2012
Impaired loans:
Commercial	$	84,755	$	84,755
Commercial Real Estate:
General		786,282		786,282
Residential		140,269		140,269
Total	$	1,011,306	$	1,011,306
Foreclosed assets:
Commercial Real Estate:
General	$	141,596	$	141,596
Construction		380,142		380,142
Total	$	521,738	$	521,738

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

The following tables present information as of March 31, 2013 and December 31, 2012 about significant unobservable inputs related to the Bank’s individually material¹ Level 3 financial assets, by class, measured on a non-recurring basis:

			Valuation	Significant Unobservable	Range		Weighted
	Fair Value		Technique (s)	Inputs	of Inputs		Average
March 31, 2013

Impaired loans:				Adjustments for differences between
Commercial Real Estate:			Sales comparison approach	the comparable sales	0	%	0	%
General	$	851,530	Income approach	Capitalization rate	10.0	%	10.0	%
Total	$	851,530
Foreclosed assets:				Adjustments for differences between
Commercial Real Estate:			Sales comparison approach	the comparable sales	(16.8) - 16.0	%	1.3	%
General	$	503,595	Income approach	Capitalization rate	10.0	%	10.0	%
				Adjustments for differences in net
			Income approach	operating income expectations	(64.0) - 28.6	%	(7.7)	%
Total	$	503,595

			Valuation	Significant Unobservable	Range		Weighted
	Fair Value		Technique (s)	Inputs	of Inputs		Average
December 31, 2012

Impaired loans:				Adjustments for differences between
Commercial Real Estate:			Sales comparison approach	the comparable sales	0	%	0	%
General	$	698,475	Income approach	Capitalization rate	10.0	%	10.0	%
Total	$	698,475
Foreclosed assets:
Commercial Real Estate:				Adjustments for differences between
Construction	$	269,100	Sales comparison approach	the comparable sales	(45.0) - 0	%	(4.5)	%
Total	$	269,100

For purposes of this disclosure, only material Level 3 assets are disclosed. These assets are included in the total non-recurring Level 3 financial assets reported in the preceding tables.

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
			at March 31, 2013 Using
	Carrying
	Amount		Level 1		Level 2		Level 3		Total
	(in thousands)
Financial assets
Cash and cash equivalents	$	23,512	$	23,512	$	0	$	0	$	23,512
Loans held for sale		5,271		0		5,367		0		5,367
Loans, net (including impaired)		123,018		0		0		115,738		115,738
FHLB stock		451		N/A		N/A		N/A		N/A
Accrued interest receivable		584		15		168		401		584

Financial liabilities
Deposits		183,897		90,848		90,717		0		181,565
Federal funds purchased and repurchase agreements		10,174		0		10,174		0		10,174
Subordinated debentures		4,500		0		0		1,125		1,125
Notes payable		1,280		0		0		1,280		1,280
Accrued interest payable		408		5		45		92		142

			Fair Value Measurements
			at December 31, 2012 Using
	Carrying
	Amount		Level 1		Level 2		Level 3		Total
	(in thousands)
Financial assets
Cash and cash equivalents	$	20,297	$	20,297	$	0	$	0	$	20,297
Loans held for sale		6,041		0		6,183		0		6,183
Loans, net (including impaired)		122,447		0		0		116,004		116,004
FHLB stock		451		N/A		N/A		N/A		N/A
Accrued interest receivable		592		12		163		417		592

Financial liabilities
Deposits		184,176		88,959		94,185		0		183,144
Federal funds purchased and repurchase agreements		10,190		0		10,190		0		10,190
Subordinated debentures		4,500		0		0		1,125		1,125
Notes payable		5,000		0		0		500		500
Accrued interest payable		1,156		4		64		81		149

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

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