SHORT-TERM BORROWINGS (Tables)

6 Months Ended

Jun. 30, 2014

Debt Disclosure [Abstract]

Schedule of Repurchase Agreements [Table Text Block]

The Company’s short-term borrowings consisted entirely of repurchase agreements in 2014 and 2013. Information regarding repurchase agreements at June 30, 2014 and December 31, 2013 is summarized below:

	Repurchase
	Agreements
Outstanding at June 30, 2014	$	10,020,151
Average interest rate at period end		0.52	%
Average balance during period		8,809,976
Average interest rate during period		0.54	%
Maximum month end balance during period		10,046,290
Outstanding at December 31, 2013	$	8,428,046
Average interest rate at year-end		0.56	%
Average balance during year		9,706,847
Average interest rate during year		0.58	%
Maximum month end balance during year		10,878,256