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

3 Months Ended

Mar. 31, 2014

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:

	March 31, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair value
FHLB Securities	$	13,403,194	$	23,825	$	656,960	$	12,770,059
Federal Farm Credit Bank ("FFCB") Securities	5,750,000		—		275,010		5,474,990
Fannie Mae ("FNMA") And Freddie Mac ("FHLMC") Bonds	1,994,888		—		4,718		1,990,170
Small Business Administration    (“SBA”) Bonds	95,294,537		1,795,194		270,243		96,819,488
Tax Exempt Municipal Bonds	61,653,704		935,280		1,502,605		61,086,379
Mortgage-Backed Securities	254,597,359		5,939,411		2,491,309		258,045,461
Equity Securities	257,938		562		—		258,500
	$	432,951,620	$	8,694,272	$	5,200,845	$	436,445,047
	December 31, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair value
FHLB Securities	$	13,538,723	$	25,695	$	893,968	$	12,670,450
FFCB Securities	5,750,000		—		383,820		5,366,180
FNMA And FHLMC Bonds	1,993,473		—		18,543		1,974,930
SBA Bonds	99,228,708		1,914,720		319,443		100,823,985
Tax Exempt Municipal Bonds	63,590,959		410,151		2,685,988		61,315,122
Mortgage-Backed Securities	245,882,053		5,843,365		3,128,883		248,596,535
Equity Securities	257,938		—		1,688		256,250
	$	430,241,854	$	8,193,931	$	7,432,333	$	431,003,452

Schedule of Available For Sale Securities, Contractual Maturities

Investment Securities	Amortized Cost		Fair Value
Less Than One Year	$	—	$	—
One – Five Years	10,555,457		10,775,763
Over Five – Ten Years	74,843,233		75,378,283
More Than Ten Years	92,955,571		92,245,540
Mortgage-Backed Securities	254,597,359		258,045,461
	$	432,951,620	$	436,445,047

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.

	March 31, 2014
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
FHLB Securities	$	9,457,540	$	470,120	$	1,813,160	$	186,840	$	11,270,700	$	656,960
FFCB Securities	4,522,390		227,610		952,600		47,400		5,474,990		275,010
FNMA And FHLMC Bonds	1,990,170		4,718		—		—		1,990,170		4,718
SBA Bonds	11,881,591		247,459		3,310,277		22,784		15,191,868		270,243
Tax Exempt Municipal Bond	28,504,159		1,130,510		6,303,922		372,095		34,808,081		1,502,605
Mortgage-Backed Securities	83,561,832		2,014,684		11,230,026		476,625		94,791,858		2,491,309
	$	139,917,682	$	4,095,101	$	23,609,985	$	1,105,744	$	163,527,667	$	5,200,845

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

	December 31, 2013
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
FHLB Securities	$	10,288,110	$	651,608	$	1,757,640	$	242,360	$	12,045,750	$	893,968
FFCB Securities	4,435,070		314,930		931,110		68,890		5,366,180		383,820
FNMA Bonds	1,974,930		18,543		—		—		1,974,930		18,543
SBA Bonds	12,183,961		288,678		3,541,453		30,765		15,725,414		319,443
Tax Exempt Municipal Bond	39,848,206		2,556,014		2,008,272		129,974		41,856,478		2,685,988
Mortgage-Backed Securities	88,516,030		2,756,216		6,436,369		372,667		94,952,399		3,128,883
Equity Securities	—		—		101,250		1,688		101,250		1,688
	$	157,246,307	$	6,585,989	$	14,776,094	$	846,344	$	172,022,401	$	7,432,333