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12) Mortgage Servicing Rights: Schedule of Mortgage Servicing Rights (Tables)
 3 Months Ended
Mar. 31, 2014
Tables/Schedules  
Schedule of Mortgage Servicing Rights

The following is a summary of the MSR activity for the periods presented.

As of March 31

As of December 31

2014

2013

Amortized cost:

Balance before valuation allowance at beginning of year

 $         4,844,101

 $            2,797,470

MSRs proceeds from loan sales

              461,301

              2,494,254

Amortization

             (151,907)

               (447,623)

Application of valuation allowance to write down MSRs with other than temporary impairment

                        -

                           -

Balance before valuation allowance at year end

 $         5,153,495

 $            4,844,101

Valuation allowance for impairment of MSRs:

Balance at beginning of year

 $                     -

 $                        -

Additions

                        -

                           -

Application of valuation allowance to write down MSRs    with other than temporary impairment

                        -

                           -

Balance at end of period

 $                     -

 $                        -

Mortgage servicing rights, net

$         5,153,495

 $            4,844,101

Estimated fair value of MSRs at end of period

$         5,737,372

 $            5,491,270