Note 5 - Foreclosed Assets

3 Months Ended

Mar. 31, 2012

Real Estate Owned [Text Block]

5.      FORECLOSED ASSETS
 

Foreclosed asset activity:

	March 31, 2012			March 31, 2011
Beginning of year	$	3,276,838		$	3,382,594
Additions		298,628			687,717
Reductions from sales		(391,679	)		(29,449	)
Direct write-downs		(91,142	)		(167,866	)
End of period	$	3,092,645		$	3,872,996
Expenses related to foreclosed assets include:
Operating expenses, net of rental income	$	83,248		$	50,041