SHORT-TERM BORROWINGS

9 Months Ended

Sep. 30, 2013

Debt Disclosure [Abstract]

Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block]

8. SHORT-TERM BORROWINGS

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 September 30, 2013 and December 31, 2012 short-term borrowing information was as follows:

	Repurchase
	Agreements
Outstanding at September 30, 2013	$	8,972,374
Average interest rate at period end		0.56	%
Average balance during period		9,996,881
Average interest rate during period		0.59	%
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