ALLOWANCE FOR LOAN LOSSES AND IMPAIRED LOANS (Tables)

6 Months Ended

Jun. 30, 2013

Receivables [Abstract]

Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent [Table Text Block]

The following tables present the activity in the allowance for loan losses for the three month periods ended June 30, 2013 and 2012 by portfolio segment:

Three Months Ended June 30, 2013	Commercial		Commercial Real Estate		Consumer		Residential		Unallocated		Total
Allowance for loan losses:
Beginning balance	$	524,383	$	2,072,756	$	330,028	$	169,549	$	205,581	$	3,302,297
Charge-offs		0		(15,314)		(20,306)		0		0		(35,620)
Recoveries		16,616		0		3,981		0		0		20,597
Provision for loan losses		(101,006)		(136,855)		105,808		(12,143)		144,196		0
Ending balance	$	439,993	$	1,920,587	$	419,511	$	157,406	$	349,777	$	3,287,274

Three Months Ended June 30, 2012	Commercial		Commercial Real Estate		Consumer		Residential		Unallocated		Total
Allowance for loan losses:
Beginning balance	$	1,138,063	$	2,486,708	$	513,260	$	206,001	$	90,071	$	4,434,103
Charge-offs		(24,277)		(94,505)		(16,693)		(11,392)		0		(146,867)
Recoveries		18,439		13,523		2,099		0		0		34,061
Provision for loan losses		224,678		(153,745)		(56,199)		(903)		(13,831)		0
Ending balance	$	1,356,903	$	2,251,981	$	442,467	$	193,706	$	76,240	$	4,321,297

The following tables present the activity in the allowance for loan losses for the six month periods ended June 30, 2013 and 2012 by portfolio segment:

Six Months Ended June 30, 2013	Commercial		Commercial Real Estate		Consumer		Residential		Unallocated		Total
Allowance for loan losses:
Beginning balance	$	582,198	$	2,266,302	$	331,459	$	203,018	$	0	$	3,382,977
Charge-offs		(40,253)		(25,025)		(38,597)		(54,599)		0		(158,474)
Recoveries		56,200		0		6,571		0		0		62,771
Provision for loan losses		(158,152)		(320,690)		120,078		8,987		349,777		0
Ending balance	$	439,993	$	1,920,587	$	419,511	$	157,406	$	349,777	$	3,287,274

Six Months Ended June 30, 2012	Commercial		Commercial Real Estate		Consumer		Residential		Unallocated		Total
Allowance for loan losses:
Beginning balance	$	1,309,632	$	3,386,433	$	410,001	$	193,388	$	0	$	5,299,454
Charge-offs		(213,069)		(857,205)		(31,481)		(11,392)		0		(1,113,147)
Recoveries		26,548		13,523		19,884		0		0		59,955
Provision for loan losses		233,792		(290,770)		44,063		11,710		76,240		75,035
Ending balance	$	1,356,903	$	2,251,981	$	442,467	$	193,706	$	76,240	$	4,321,297

Allowance for Credit Losses on Financing Receivables [Table Text Block]

The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment based on impairment method as of June 30, 2013 and December 31, 2012:

June 30, 2013	Commercial		Commercial Real Estate		Consumer		Residential		Unallocated		Total
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	30,532	$	1,347,556	$	223,450	$	92,295	$	0	$	1,693,833
Collectively evaluated for impairment		409,461		573,031		196,061		65,111		0		1,243,664
Unallocated		0		0		0		0		349,777		349,777
Total ending allowance balance	$	439,993	$	1,920,587	$	419,511	$	157,406	$	349,777	$	3,287,274
Loans:
Individually evaluated for impairment	$	1,310,908	$	6,761,174	$	408,363	$	657,692	$	0	$	9,138,137
Collectively evaluated for impairment		42,715,693		47,014,394		10,525,882		15,521,595		0		115,777,564
Total ending loans balance	$	44,026,601	$	53,775,568	$	10,934,245	$	16,179,287	$	0	$	124,915,701

December 31, 2012	Commercial		Commercial Real Estate		Consumer		Residential		Unallocated		Total
Allowance for loan losses:
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	104,727	$	1,489,569	$	89,050	$	127,030	$	0	$	1,810,376
Collectively evaluated for impairment		477,471		776,733		242,409		75,988		0		1,572,601
Unallocated		0		0		0		0		0		0
Total ending allowance balance	$	582,198	$	2,266,302	$	331,459	$	203,018	$	0	$	3,382,977
Loans:
Individually evaluated for impairment	$	3,288,294	$	7,322,850	$	321,820	$	782,732	$	0	$	11,715,696
Collectively evaluated for impairment		36,739,269		49,391,498		11,329,495		17,063,417		0		114,523,679
Total ending loans balance	$	40,027,563	$	56,714,348	$	11,651,315	$	17,846,149	$	0	$	126,239,375

Impaired Financing Receivables [Table Text Block]

The following tables present loans individually evaluated for impairment by class of loans as of June 30, 2013 and December 31, 2012. For purposes of this disclosure, the unpaid principal balance is not reduced for partial charge-offs.

	As of June 30, 2013						For the periods ended June 30, 2013
							Three Months		Three Months		Three Months		Six Months		Six Months		Six Months
			Unpaid				Average		Interest		Cash Basis		Average		Interest		Cash Basis
	Recorded		Principal		Related		Recorded		Income		Interest		Recorded		Income		Interest
	Investment		Balance		Allowance		Investment		Recognized		Recognized		Investment		Recognized		Recognized
With no related allowance recorded:
Commercial	$	1,185,733	$	1,297,400	$	0	$	1,204,824	$	7,924	$	7,924	$	1,558,469	$	21,221	$	20,808
Commercial Real Estate:
General		2,113,470		2,136,501		0		2,297,799		26,299		20,308		2,383,298		52,308		46,841
Construction		0		0		0		0		0		0		0		0		0
Consumer:
Lines of credit		37,141		37,141		0		63,529		0		0		86,625		0		0
Other		7,305		7,305		0		13,415		0		0		18,510		0		0
Credit card		0		0		0		0		0		0		0		0		0
Residential		123,181		155,845		0		123,759		0		0		140,888		0		0
Subtotal	$	3,466,830	$	3,634,192	$	0	$	3,703,326	$	34,223	$	28,232	$	4,187,790	$	73,529	$	67,649
With an allowance recorded:
Commercial	$	125,175	$	125,145	$	30,532	$	112,394	$	139	$	139	$	422,999	$	9,742	$	9,387
Commercial Real Estate:
General		4,647,704		4,647,838		1,347,556		4,526,238		30,789		30,789		4,518,976		61,739		61,739
Construction		0		0		0		0		0		0		0		0		0
Consumer:
Lines of credit		254,524		254,156		183,890		144,335		1,752		1,594		131,339		3,769		2,773
Other		109,393		109,234		39,560		107,610		473		473		107,659		941		941
Credit card		0		0		0		0		0		0		448		0		0
Residential		534,511		542,567		92,295		509,502		4,237		4,237		489,844		8,428		8,428
Subtotal	$	5,671,307	$	5,678,940	$	1,693,833	$	5,400,079	$	37,390	$	37,232	$	5,671,265	$	84,619	$	83,268
Total	$	9,138,137	$	9,313,132	$	1,693,833	$	9,103,405	$	71,613	$	65,464	$	9,859,055	$	158,148	$	150,917

	As of December 31, 2012						For the periods ended June 30, 2012
							Three Months		Three Months		Three Months		Six Months		Six Months		Six Months
			Unpaid				Average		Interest		Cash Basis		Average		Interest		Cash Basis
	Recorded		Principal		Related		Recorded		Income		Interest		Recorded		Income		Interest
	Investment		Balance		Allowance		Investment		Recognized		Recognized		Investment		Recognized		Recognized
With no related allowance recorded:
Commercial	$	2,147,075	$	2,295,401	$	0	$	2,395,169	$	13,599	$	13,599	$	2,556,893	$	27,313	$	27,198
Commercial Real Estate:
General		2,662,984		2,739,027		0		2,438,933		10,489		10,486		2,333,487		12,921		12,912
Construction		0		0		0		214,764		0		0		303,937		0		0
Consumer:
Lines of credit		55,659		55,524		0		41,773		301		301		50,178		790		602
Other		26,221		26,221		0		20,374		0		0		20,415		0		0
Credit card		0		0		0		0		0		0		0		0		0
Residential		208,178		240,491		0		313,229		497		497		249,108		995		995
Subtotal	$	5,100,117	$	5,356,664	$	0	$	5,424,242	$	24,886	$	24,883	$	5,514,018	$	42,019	$	41,707
With an allowance recorded:
Commercial	$	1,141,219	$	1,139,885	$	104,727	$	1,826,765	$	9,250	$	8,610	$	1,800,707	$	18,773	$	16,716
Commercial Real Estate:
General		4,659,866		4,675,981		1,489,569		3,282,185		36,109		36,109		3,712,164		78,747		47,763
Construction		0		0		0		2,045,270		0		0		2,002,868		0		0
Consumer:
Lines of credit		135,111		134,976		40,180		222,020		1,317		1,204		200,654		2,854		2,848
Other		104,829		104,664		48,870		109,821		518		483		110,092		1,001		966
Credit card		0		0		0		0		0		0		352		0		0
Residential		574,554		594,307		127,030		539,980		3,846		3,646		529,993		7,477		7,196
Subtotal	$	6,615,579	$	6,649,813	$	1,810,376	$	8,026,041	$	51,040	$	50,052	$	8,356,830	$	108,852	$	75,489
Total	$	11,715,696	$	12,006,477	$	1,810,376	$	13,450,283	$	75,926	$	74,935	$	13,870,848	$	150,871	$	117,196

Past Due Financing Receivables [Table Text Block]

The following tables present the aging of the recorded investment in past due and non accrual loans by class of loans as of June 30, 2013:

					Greater Than 90		Total Accruing				Total Recorded
	30-59 Days Past		60-89 Days Past		Days Past		Past Due		Current		Investment of
Accruing Loans	Due		Due		Due		Loans		Accruing Loans		Accruing Loans
Commercial	$	0	$	0	$	0	$	0	$	43,778,540	$	43,778,540
Commercial Real Estate:
General		0		0		0		0		49,030,211		49,030,211
Construction		0		0		0		0		2,231,354		2,231,354
Consumer:
Lines of credit		106,102		0		0		106,102		8,543,956		8,650,058
Other		0		0		0		0		1,643,678		1,643,678
Credit card		0		0		0		0		473,688		473,688
Residential		0		0		0		0		15,998,643		15,998,643
Total	$	106,102	$	0	$	0	$	106,102	$	121,700,070	$	121,806,172

					Greater Than 90		Total		Current		Total Non Accrual
	30-59 Days Past		60-89 Days Past		Days Past		Non Accrual		Non Accrual		Recorded
Non Accrual Loans	Due		Due		Due		Past Due Loans		Loans		Investment
Commercial	$	0	$	0	$	114,936	$	114,936	$	133,125	$	248,061
Commercial Real Estate:
General		0		0		0		0		2,514,003		2,514,003
Construction		0		0		0		0		0		0
Consumer:
Lines of credit		20,549		0		60,029		80,578		74,087		154,665
Other		0		2,802		0		2,802		9,354		12,156
Credit card		0		0		0		0		0		0
Residential		0		77,162		0		77,162		103,482		180,644
Total	$	20,549	$	79,964	$	174,965	$	275,478	$	2,834,051	$	3,109,529

The following tables present the aging of the recorded investment in past due and non accrual loans by class of loans as of December 31, 2012:

					Greater Than 90		Total Accruing				Total Recorded
	30-59 Days Past		60-89 Days Past		Days Past		Past Due		Current		Investment of
Accruing Loans	Due		Due		Due		Loans		Accruing Loans		Accruing Loans
Commercial	$	1,956	$	0	$	0	$	1,956	$	39,465,435	$	39,467,391
Commercial Real Estate:
General		97,605		0		0		97,605		50,193,607		50,291,212
Construction		0		0		0		0		3,479,043		3,479,043
Consumer:
Lines of credit		26,037		44,866		0		70,903		8,963,308		9,034,211
Other		3,707		0		0		3,707		2,015,334		2,019,041
Credit card		2,010		0		0		2,010		488,792		490,802
Residential		0		85,242		0		85,242		17,456,776		17,542,018
Total	$	131,315	$	130,108	$	0	$	261,423	$	122,062,295	$	122,323,718

					Greater Than 90		Total		Current		Total Non Accrual
	30-59 Days Past		60-89 Days Past		Days Past		Non Accrual		Non Accrual		Recorded
Non Accrual Loans	Due		Due		Due		Past Due Loans		Loans		Investment
Commercial	$	8,958	$	20,469	$	320,592	$	350,019	$	210,153	$	560,172
Commercial Real Estate:
General		8,414		280,399		406,792		695,605		2,248,488		2,944,093
Construction		0		0		0		0		0		0
Consumer:
Lines of credit		0		21,583		0		21,583		79,628		101,211
Other		0		0		6,050		6,050		0		6,050
Credit card		0		0		0		0		0		0
Residential		0		0		195,649		195,649		108,482		304,131
Total	$	17,372	$	322,451	$	929,083	$	1,268,906	$	2,646,751	$	3,915,657

Troubled Debt Restructurings on Financing Receivables [Table Text Block]

The following table presents loans by class modified as troubled debt restructurings that occurred during the three month period ended June 30, 2013:

			Pre-Modification		Post-Modification
			Outstanding Recorded		Outstanding Recorded
Three Months Ended June 30, 2013	Number of Loans		Investment		Investment
Troubled Debt Restructurings:
Consumer:
Lines of credit		2	$	137,893	$	137,893
Total		2	$	137,893	$	137,893

The following table presents loans by class modified as troubled debt restructurings that occurred during the six month period ended June 30, 2013:

			Pre-Modification		Post-Modification
			Outstanding Recorded		Outstanding Recorded
Six Months Ended June 30, 2013	Number of Loans		Investment		Investment
Troubled Debt Restructurings:
Commercial		1	$	143,136	$	133,425
Consumer:
Lines of credit		2		137,893		137,893
Total		3	$	281,029	$	271,318

The following table presents loans by class modified as troubled debt restructurings that occurred during the three month period ended June 30, 2012:

			Pre-Modification		Post-Modification
			Outstanding Recorded		Outstanding Recorded
Three Months Ended June 30, 2012	Number of Loans		Investment		Investment
Troubled Debt Restructurings:
Consumer:
Lines of credit		1	$	22,416	$	22,416
Total		1	$	22,416	$	22,416

The following table presents loans by class modified as troubled debt restructurings that occurred during the six month period ending June 30, 2012:

			Pre-Modification		Post-Modification
			Outstanding Recorded		Outstanding Recorded
Six Months Ended June 30, 2012	Number of Loans		Investment		Investment
Troubled Debt Restructurings:
Commercial		1	$	11,880	$	11,880
Commercial Real Estate:
General		5		3,446,269		2,808,146
Consumer:
Lines of credit		2		126,860		126,860
Residential		1		62,085		62,085
Total		9	$	3,647,094	$	3,008,971

Financing Receivable Credit Quality Indicators [Table Text Block]

As of June 30, 2013 and December 31, 2012, and based on the most recent analysis performed, the recorded investment by risk category and class of loans is as follows:

					Commercial Real Estate				Commercial Real Estate
	Commercial				General				Construction
	June 30,		December 31,		June 30,		December 31,		June 30,		December 31,
	2013		2012		2013		2012		2013		2012
1	$	0	$	0	$	0	$	0	$	0	$	0
2		326,329		298,200		0		0		0		0
3		7,896,158		2,004,476		4,471,036		4,141,391		0		0
4		12,208,441		14,017,221		12,633,663		12,911,811		594,452		384,848
5		16,381,147		16,373,423		21,425,109		22,177,734		239,271		1,695,990
5M		4,854,101		3,318,016		4,231,857		3,675,131		1,397,631		1,398,205
6		1,056,835		2,180,119		6,268,690		7,365,970		0		0
7		1,166,790		1,369,803		321,600		287,682		0		0
8		136,800		466,305		2,192,259		2,675,586		0		0
Total	$	44,026,601	$	40,027,563	$	51,544,214	$	53,235,305	$	2,231,354	$	3,479,043

The following tables present the recorded investment in residential and consumer loans based on payment activity as of June 30, 2013 and December 31, 2012:

	Residential
	June 30,		December 31,
	2013		2012
Performing	$	15,521,595	$	17,063,417
Impaired		657,692		782,732
Total	$	16,179,287	$	17,846,149

	Consumer – Lines of credit				Consumer – Other				Consumer – Credit card
	June 30,		December 31,		June 30,		December 31,		June 30,		December 31,
	2013		2012		2013		2012		2013		2012
Performing	$	8,513,058	$	8,944,652	$	1,539,136	$	1,894,041	$	473,688	$	490,802
Impaired		291,665		190,770		116,698		131,050		0		0
Total	$	8,804,723	$	9,135,422	$	1,655,834	$	2,025,091	$	473,688	$	490,802