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3) Investments: Schedule of Allowance for loan losses as a contra-asset account (Tables)
 3 Months Ended
Sep. 30, 2012
Tables/Schedules  
Schedule of Allowance for loan losses as a contra-asset account

Allowance for Credit Losses and Recorded Investment in Mortgage Loans

 

Commercial

Residential

Residential Construction

Total

September 30, 2012

Allowance for credit losses:

Beginning balance - January 1, 2012

 $                    -

 $     4,338,805

 $        542,368

 $     4,881,173

   Charge-offs

                       -

          (364,127)

          (490,886)

          (855,013)

   Provision

                       -

           237,215

                       -

           237,215

Ending balance -September 30, 2012

 $                    -

 $     4,211,893

 $          51,482

 $     4,263,375

Ending balance: individually evaluated for impairment

 $                    -

 $        866,394

 $          23,557

 $        889,951

Ending balance: collectively evaluated for impairment

 $                    -

 $     3,345,499

 $          27,925

 $     3,373,424

Ending balance: loans acquired with deteriorated credit quality

 $                    -

 $                    -

 $                    -

 $                    -

Mortgage loans:

Ending balance

 $   32,408,903

 $   50,133,436

 $     5,589,673

 $   88,132,012

Ending balance: individually evaluated for impairment

 $        761,652

 $     5,329,240

 $     1,559,358

 $     7,650,250

Ending balance: collectively evaluated for impairment

 $   31,647,251

 $   44,804,196

 $     4,030,315

 $   80,481,762

Ending balance: loans acquired with deteriorated credit quality

 $                    -

 $                    -

 $                    -

 $                    -

December 31, 2011

Allowance for credit losses:

Beginning balance - January 1, 2011

 $                    -

 $     6,212,072

 $        858,370

 $     7,070,442

   Charge-offs

                       -

       (2,994,715)

          (430,274)

       (3,424,989)

   Provision

                       -

        1,121,448

           114,272

        1,235,720

Ending balance - December 31, 2011

 $                    -

 $     4,338,805

 $        542,368

 $     4,881,173

Ending balance: individually evaluated for impairment

 $                    -

 $        738,975

 $        250,524

 $        989,499

Ending balance: collectively evaluated for impairment

 $                    -

 $     3,599,830

 $        291,844

 $     3,891,674

Ending balance: loans acquired with deteriorated credit quality

 $                    -

 $                    -

 $                    -

 $                    -

Mortgage loans:

Ending balance

 $   48,433,147

 $   54,344,327

 $   17,259,666

 $ 120,037,140

Ending balance: individually evaluated for impairment

 $     2,758,235

 $     4,611,995

 $     5,645,865

 $   13,016,095

Ending balance: collectively evaluated for impairment

 $   45,674,912

 $   49,732,332

 $   11,613,801

 $ 107,021,045

Ending balance: loans acquired with deteriorated credit quality

 $                    -

 $                    -

 $                    -

 $                    -