Loans Receivable, Net (Tables)

9 Months Ended

Sep. 30, 2013

Schedule of Financing Receivables, Non Accrual Status [Table Text Block]

9. Loans Receivable, Net, Continued

The following table shows non-accrual loans by category at June 30, 2013 compared to December 31, 2012:



	At September 30, 2013				At December 31, 2012				$			%
	Amount		Percent ⁽¹⁾		Amount		Percent ⁽¹⁾		Increase (Decrease)			Increase (Decrease)
Non-accrual Loans:
Residential Real Estate	$	3,933,183	1.1	%	$	3,757,801	0.9	%	$	175,382		4.7	%
Commercial Business	700		—		86,991		—		(86,291		)	(99.2	)
Commercial Real Estate	7,703,099		2.1		13,913,190		3.4		(6,210,091		)	(44.6	)
Consumer	500,801		0.1		646,136		0.2		(145,335		)	(22.5	)
Total Non- accrual Loans	$	12,137,783	3.2	%	$	18,404,118	4.5	%	$	(6,266,335	)	(34.0	)%

^{(1) PERCENT OF TOTAL LOANS HELD FOR INVESTMENT, NET OF DEFERRED FEES AND LOANS IN PROCESS.}

Impaired Financing Receivables [Table Text Block]

The following tables are a summary of information related to impaired loans as of and for the three months ended September 30, 2013 and 2012.



			At				For The Three Months Ended September 30,
	September 30, 2013						2013				2012
Impaired Loans	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Invesment		Interest Income Recognized		Average Recorded Invesment		Interest Income Recognized
With No Related Allowance Recorded:
Residential Real Estate	$	3,714,628	$	4,117,557	$	—	$	3,834,984	$	9,662	$	2,714,824	$	13,904
Consumer Loans	389,735		453,735		—		397,003		1,783		863,939		620
Commercial Business	20,611		20,611		—		21,438		226		16,220		207
Commercial Real Estate	28,175,429		33,729,063		—		28,838,663		271,472		33,178,350		276,147
With An Allowance Recorded:
Residential Real Estate	405,872		405,872		107,000		405,872		—		1,196,138		—
Consumer Loans	—		—		—		—		—		13,233		178
Commercial Business	—		—		—		—		—		49,537		—
Commercial Real Estate	994,748		1,442,740		332,000		1,151,053		8,326		4,161,122		2,643
Total
Residential Real Estate	4,120,500		4,523,429		107,000		4,240,856		9,662		3,910,962		13,904
Consumer Loans	389,735		453,735		—		397,003		1,783		877,172		798
Commercial Business	20,611		20,611		—		21,438		226		65,757		207
Commercial Real Estate	29,170,177		35,171,803		332,000		29,989,716		279,798		37,339,472		278,790
Total	$	33,701,023	$	40,169,578	$	439,000	$	34,649,013	$	291,469	$	42,193,363	$	293,699

9. Loans Receivable, Net, Continued



	For The nine months Ended September 30,
	2013				2012
Impaired Loans	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
With No Related Allowance Recorded:
Residential Real Estate	$	3,911,750	$	20,289	$	2,388,929	$	92,425
Consumer Loans	394,775		7,494		1,467,255		11,201
Commercial Business	23,745		335		110,021		368
Commercial Real Estate	30,090,250		1,031,806		30,054,920		1,204,035
With An Allowance Recorded:
Residential Real Estate	405,872		—		957,060		6,137
Consumer Loans	—		—		17,066		178
Commercial Business	—		—		110,326		956
Commercial Real Estate	1,278,434		23,274		4,292,826		188,164
Total
Residential Real Estate	4,317,622		20,289		3,345,989		98,562
Consumer Loans	394,775		7,494		1,484,321		11,379
Commercial Business	23,745		335		220,347		1,324
Commercial Real Estate	31,368,684		1,055,080		34,347,746		1,392,199
Total	$	36,104,826	$	1,083,198	$	39,398,403	$	1,503,464

9. Loans Receivable, Net, Continued



	December 31, 2012
Impaired Loans	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
With No Related Allowance Recorded:
Residential Real Estate	$	4,500,902	$	4,611,873	$	—	$	4,531,543	$	130,896
Consumer Loans	322,588		386,588		—		342,916		28,419
Commercial Business	7,853		7,853		—		12,236		—
Commercial Real Estate	31,808,577		35,373,833		—		32,963,079		1,036,344
With An Allowance Recorded:
Residential Real Estate	—		—		—		—		—
Consumer Loans	—		—		—		—		—
Commercial Business	—		—		—		—		—
Commercial Real Estate	3,306,618		4,766,031		440,000		3,705,660		—
Total
Residential Real Estate	4,500,902		4,611,873		—		4,531,543		130,896
Consumer Loans	322,588		386,588		—		342,916		28,419
Commercial Business	7,853		7,853		—		12,236		—
Commercial Real Estate	35,115,195		40,139,864		440,000		36,668,739		1,036,344
Total	$	39,946,538	$	45,146,178	$	440,000	$	41,555,434	$	1,195,659

Troubled Debt Restructurings on Financing Receivables [Table Text Block]

The following table is a summary of loans restructured as TDRs during the periods indicated:



	For the nine months Ended September 30, 2013					For the nine months Ended September 30, 2012
Troubled Debt Restructurings	Number of Contracts	Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment		Number of Contracts	Pre- Modification Outstanding Recorded Investment		Post- Modification Outstanding Recorded Investment
Residential Real Estate	—	$	—	$	—	—	$	—	$	—
Consumer Loans	—	—		—		1	15,358		15,358
Commercial Business	—	—		—		—	—		—
Commercial Real Estate	4	1,651,023		1,651,023		9	7,871,114		7,871,114
Total	4	$	1,651,023	$	1,651,023	10	$	7,886,472	$	7,886,472

Schedule of Credit Losses Related to Financing Receivables, Current and Noncurrent [Table Text Block]

The following tables show the activity in the allowance for loan losses by category for the periods indicated:



	For the Three Months Ended September 30, 2013
	Residential Real Estate			Consumer			Commercial Business			Commercial Real Estate			Total
Beginning Balance	$	1,665,871		$	888,913		$	488,554		$	7,963,941		$	11,007,279
Provision	175,482			(26,974		)	(66,101		)	517,593			600,000
Charge-Offs	(212,876		)	(27,916		)	—			(762,198		)	(1,002,990		)
Recoveries	—			18,953			10,219			15,870			45,042
Ending Balance	$	1,628,477		$	852,976		$	432,672		$	7,735,206		$	10,649,331



	For the Three Months Ended September 30, 2012
	Residential Real Estate			Consumer			Commercial Business			Commercial Real Estate			Total
Beginning Balance	$	2,030,522		$	1,251,799		$	473,224		$	8,928,782		$	12,684,327
Provision	50,497			(80,555		)	(9,339		)	339,397			300,000
Charge-Offs	(192,026		)	(113,799		)	(28,736		)	(1,076,739		)	(1,411,300		)
Recoveries	330			2,901			4,087			65,814			73,132
Ending Balance	$	1,889,323		$	1,060,346		$	439,236		$	8,257,254		$	11,646,159



	For the Nine Months Ended September 30, 2013
	Residential Real Estate			Consumer			Commercial Business			Commercial Real Estate			Total
Beginning Balance	$	1,521,559		$	1,001,271		$	618,919		$	8,176,622		$	11,318,371
Provision	431,317			(42,636		)	(201,148		)	2,457,848			2,645,381
Charge-Offs	(324,399		)	(143,991		)	(4,436		)	(2,997,474		)	(3,470,300		)
Recoveries	—			38,332			19,337			98,210			155,879
Ending Balance	$	1,628,477		$	852,976		$	432,672		$	7,735,206		$	10,649,331

9. Loans Receivable, Net, Continued



	For the Nine Months Ended September 30, 2012
	Residential Real Estate			Consumer			Commercial Business			Commercial Real Estate			Total
Beginning Balance	$	2,416,356		$	996,780		$	720,405		$	10,127,833		$	14,261,374
Provision	147,559			1,327,579			(68,840		)	1,568,702			2,975,000
Charge-Offs	(684,681		)	(1,296,004		)	(217,466		)	(3,652,684		)	(5,850,835		)
Recoveries	10,089			31,991			5,137			213,403			260,620
Ending Balance	$	1,889,323		$	1,060,346		$	439,236		$	8,257,254		$	11,646,159

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

Loans receivable, net, consisted of the following as of the dates shown:



	September 30, 2013			December 31, 2012
Residential Real Estate Loans	$	83,706,115		$	90,677,625
Consumer Loans	53,038,081			56,595,093
Commercial Business	7,079,274			8,063,901
Commercial Real Estate	232,912,073			250,924,094
Total Loans Held For Investment	376,735,543			406,260,713
Loans Held For Sale	1,385,925			4,770,760
Total Loans Receivable, Gross	378,121,468			411,031,473
Less:
Allowance For Loan Losses	10,649,331			11,318,371
Loans In Process	2,559,695			2,002,595
Deferred Loan Fees (Costs)	(10,653		)	4,687
	13,198,373			13,325,653
Total Loans Receivable, Net	$	364,923,095		$	397,705,820

Schedule of Allowance for Loan Losses

Changes in the allowance for loan losses for the three and nine months ended September 30, 2013 and 2012 are summarized as follows:



	Three Months Ended September 30,						Nine Months Ended September 30,
	2013			2012			2013			2012
Balance At Beginning Of Period	$	11,007,279		$	12,684,327		$	11,318,371		$	14,261,374
Provision For Loan Losses	600,000			300,000			2,645,381			2,975,000
Charge Offs	(1,002,990		)	(1,411,300		)	(3,470,300		)	(5,850,835		)
Recoveries	45,042			73,132			155,879			260,620
Total Allowance For Loan Losses	$	10,649,331		$	11,646,159		$	10,649,331		$	11,646,159

Financing Receivable Credit Quality Indicators [Table Text Block]

The following tables list the loan grades used by the Company as credit quality indicators and the balance in each category at the dates presented, excluding loans held for sale.



	Credit Quality Measures
September 30, 2013	Pass		Caution		Special Mention		Substandard		Total Loans
Residential Real Estate	$	76,141,552	$	482,578	$	405,792	$	6,676,193	$	83,706,115
Consumer	51,218,363		740,157		165,670		913,891		53,038,081
Commercial Business	6,127,742		239,892		544,313		167,327		7,079,274
Commercial Real Estate	136,918,099		45,623,322		19,270,017		31,100,635		232,912,073
Total	$	270,405,756	$	47,085,949	$	20,385,792	$	38,858,046	$	376,735,543

9. Loans Receivable, Net, Continued



	Credit Quality Measures
December 31, 2012	Pass		Caution		Special Mention		Substandard		Total Loans
Residential Real Estate	$	82,565,630	$	222,046	$	293,079	$	7,596,870	$	90,677,625
Consumer	54,899,665		152,368		184,731		1,358,329		56,595,093
Commercial Business	7,256,607		151,521		514,253		141,520		8,063,901
Commercial Real Estate	162,570,021		32,049,447		17,417,778		38,886,848		250,924,094
Total	$	307,291,923	$	32,575,382	$	18,409,841	$	47,983,567	$	406,260,713

Past Due Financing Receivables [Table Text Block]

The following table presents an age analysis of past due balances by category at September 30, 2013:



	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		Current		Total Loans Receivable
Residential Real Estate	$	—	$	841,302	$	3,933,183	$	4,774,485	$	78,931,630	$	83,706,115
Consumer	726,439		129,080		500,801		1,356,320		51,681,761		53,038,081
Commercial Business	177,434		32,643		700		210,777		6,868,497		7,079,274
Commercial Real Estate	7,527,051		4,531,168		7,703,099		19,761,318		213,150,755		232,912,073
Total	$	8,430,924	$	5,534,193	$	12,137,783	$	26,102,900	$	350,632,643	$	376,735,543

The following table presents an age analysis of past due balances by category at December 31, 2012:



	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		Current		Total Loans Receivable
Residential Real Estate	$	—	$	1,794,644	$	3,757,801	$	5,552,445	$	85,125,180	$	90,677,625
Consumer	1,862,611		211,756		646,136		2,720,503		53,874,590		56,595,093
Commercial Business	445,113		36,079		86,991		568,183		7,495,718		8,063,901
Commercial Real Estate	2,432,423		4,852,227		13,913,190		21,197,840		229,726,254		250,924,094
Total	$	4,740,147	$	6,894,706	$	18,404,118	$	30,038,971	$	376,221,742	$	406,260,713

Allowance for Credit Losses on Financing Receivables [Table Text Block]

he following tables present information related to impaired loans evaluated individually for impairment and collectively evaluated for impairment in loans receivable for the periods indicated:



	Loans Receivable
September 30, 2013	Individually Evaluated For Impairment		Collectively Evaluated For Impairment		Total
Residential Real Estate	$	4,120,500	$	79,585,615	$	83,706,115
Consumer	389,735		52,648,346		53,038,081
Commercial Business	20,611		7,058,663		7,079,274
Commercial Real Estate	29,170,177		203,741,896		232,912,073
Total	$	33,701,023	$	343,034,520	$	376,735,543



	Loans Receivable
December 31, 2012	Individually Evaluated For Impairment		Collectively Evaluated For Impairment		Total
Residential Real Estate	$	4,500,902	$	86,176,723	$	90,677,625
Consumer	322,588		56,272,505		56,595,093
Commercial Business	7,853		8,056,048		8,063,901
Commercial Real Estate	35,115,195		215,808,899		250,924,094
Total	$	39,946,538	$	366,314,175	$	406,260,713

The following tables present information related to impaired loans evaluated individually for impairment and collectively evaluated for impairment in the allowance for loan losses:



	Allowance For Loan Losses
September 30, 2013	Individually Evaluated For Impairment		Collectively Evaluated For Impairment		Total
Residential Real Estate	$	107,000	$	1,521,477	$	1,628,477
Consumer	—		852,976		852,976
Commercial Business	—		432,672		432,672
Commercial Real Estate	332,000		7,403,206		7,735,206
Total	$	439,000	$	10,210,331	$	10,649,331



	Allowance For Loan Losses
December 31, 2012	Individually Evaluated For Impairment		Collectively Evaluated For Impairment		Total
Residential Real Estate	$	—	$	1,521,559	$	1,521,559
Consumer	—		1,001,271		1,001,271
Commercial Business	—		618,919		618,919
Commercial Real Estate	440,000		7,736,622		8,176,622
Total	$	440,000	$	10,878,371	$	11,318,371