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

6 Months Ended

Jun. 30, 2014

Jun. 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:

	June 30, 2014
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair value
FHLB Securities	$	14,325,249	$	100,255	$	421,073	$	14,004,431
Federal Farm Credit Bank ("FFCB") Securities	5,750,000		—		137,495		5,612,505
Fannie Mae ("FNMA") And Freddie Mac ("FHLMC") Bonds	996,457		791		—		997,248
Small Business Administration    (“SBA”) Bonds	95,497,940		1,822,916		271,402		97,049,454
Tax Exempt Municipal Bonds	58,330,018		1,776,888		352,949		59,753,957
Mortgage-Backed Securities	253,775,042		6,812,674		1,499,478		259,088,238
Equity Securities	257,938		47,062		—		305,000
	$	428,932,644	$	10,560,586	$	2,682,397	$	436,810,833
	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	$	321,151	$	328,913
One – Five Years	12,647,153		12,876,501
Over Five – Ten Years	72,912,189		73,784,671
More Than Ten Years	89,277,109		90,732,510
Mortgage-Backed Securities	253,775,042		259,088,238
	$	428,932,644	$	436,810,833

Schedule of Temporarily Impaired Securities, Fair Value and Unrealized Losses

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.

	June 30, 2014
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
FHLB Securities	$	—	$	—	$	7,577,335	$	421,073	$	7,577,335	$	421,073
FFCB Securities	4,634,994		115,006		977,511		22,489		5,612,505		137,495
SBA Bonds	15,275,676		132,635		7,622,202		138,767		22,897,878		271,402
Tax Exempt Municipal Bond	4,442,890		44,641		19,923,138		308,308		24,366,028		352,949
Mortgage-Backed Securities	39,386,204		1,187,371		22,734,106		312,107		62,120,310		1,499,478
	$	63,739,764	$	1,479,653	$	58,834,292	$	1,202,744	$	122,574,056	$	2,682,397

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.

	June 30, 2014
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
FHLB Securities	$	—	$	—	$	7,577,335	$	421,073	$	7,577,335	$	421,073
FFCB Securities	4,634,994		115,006		977,511		22,489		5,612,505		137,495
SBA Bonds	15,275,676		132,635		7,622,202		138,767		22,897,878		271,402
Tax Exempt Municipal Bond	4,442,890		44,641		19,923,138		308,308		24,366,028		352,949
Mortgage-Backed Securities	39,386,204		1,187,371		22,734,106		312,107		62,120,310		1,499,478
	$	63,739,764	$	1,479,653	$	58,834,292	$	1,202,744	$	122,574,056	$	2,682,397

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