Investment and Mortgage-Backed Securities, Available for Sale (Tables)

9 Months Ended

Sep. 30, 2013

Investments, Debt and Equity Securities [Abstract]

Schedule of Available for Sale Securities

The amortized cost, gross unrealized gains, gross unrealized losses, and fair values of investment and mortgage-backed securities available for sale are as follows:

	September 30, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair value
FHLB Securities	$	15,932,195	$	12,474	$	898,379	$	15,046,290
Federal Farm Credit Bank ("FFCB") Securities	5,750,000		—		336,342		5,413,658
Fannie Mae ("FNMA") And Freddie Mac ("FHLMC") Bonds	3,008,579		—		33,719		2,974,860
Small Business Administration    (“SBA”) Bonds	99,318,089		2,074,749		367,610		101,025,228
Tax Exempt Municipal Bonds	59,329,205		470,378		2,886,122		56,913,461
Mortgage-Backed Securities	241,881,766		6,339,618		3,000,433		245,220,951
Equity Securities	257,938		—		5,588		252,350
	$	425,477,772	$	8,897,219	$	7,528,193	$	426,846,798
	December 31, 2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair value
FHLB Securities	$	6,115,036	$	53,954	$	4,320	$	6,164,670
SBA Bonds	94,152,203		2,466,354		156,287		96,462,270
Tax Exempt Municipal Bonds	35,772,115		1,770,567		60,534		37,482,148
Mortgage-Backed Securities	206,793,861		8,030,008		91,966		214,731,903
Equity Securities	102,938		—		27,713		75,225
	$	342,936,153	$	12,320,883	$	340,820	$	354,916,216

Schedule of Available For Sale Securities, Contractual Maturities

	Amortized Cost		Fair Value
Less Than One Year	$	303,707	$	306,647
One – Five Years	14,618,573		14,974,880
Over Five – Ten Years	72,154,975		72,232,540
More Than Ten Years	96,518,751		94,111,780
Mortgage-Backed Securities	241,881,766		245,220,951
	$	425,477,772	$	426,846,798

Schedule of Temporarily Impaired Securities, Fair Value and Unrealized Losses

The following tables show gross unrealized losses and fair value, aggregated by investment category, and length of time that the individual available for sale securities have been in a continuous unrealized loss position at the dates indicated.

	September 30, 2013
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
FHLB Securities	$	14,035,810	$	898,379	$	—	$	—	$	14,035,810	$	898,379
FFCB Securities	5,413,658		336,342						5,413,658		336,342
FNMA And FHLMC Bonds	2,974,860		33,719						2,974,860		33,719
SBA Bonds	16,378,637		367,610		—		—		16,378,637		367,610
Tax Exempt Municipal Bond	41,157,516		2,886,122		—		—		41,157,516		2,886,122
Mortgage-Backed Securities	77,393,890		2,857,409		3,202,789		143,024		80,596,679		3,000,433
Equity Securities	—		—		97,350		5,588		97,350		5,588
	$	157,354,371	$	7,379,581	$	3,300,139	$	148,612	$	160,654,510	$	7,528,193

7. Investment and Mortgage-Backed Securities, Available For Sale, Continued

	December 31, 2012
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
FHLB Securities	$	995,680	$	4,320	$	—	$	—	$	995,680	$	4,320
SBA Bonds	4,583,177		119,825		1,833,076		36,462		6,416,253		156,287
Tax Exempt Municipal Bond	4,538,734		60,534		—		—		4,538,734		60,534
Mortgage-Backed Securities	16,259,037		91,966		—		—		16,259,037		91,966
Equity Securities	—		—		75,225		27,713		75,225		27,713
	$	26,376,628	$	276,645	$	1,908,301	$	64,175	$	28,284,929	$	340,820