Loans Receivable, Net (Tables)

9 Months Ended

Sep. 30, 2014

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

The following table shows non-accrual loans by category at September 30, 2014 compared to December 31, 2013:



	At September 30, 2014				At December 31, 2013				$			%
	Amount		Percent ⁽¹⁾		Amount		Percent ⁽¹⁾		Increase (Decrease)			Increase (Decrease)
Non-accrual Loans:
Residential Real Estate	$	3,121,609	0.89	%	$	4,607,613	1.25	%	$	(1,486,004	)	(32.25	)%
Commercial Business	452,119		0.13		33,055		0.01		419,064			1,267.78
Commercial Real Estate	9,636,646		2.75		4,972,667		1.35		4,663,979			93.79
Consumer	543,421		0.15		399,062		0.11		144,359			36.17
Total Non- accrual Loans	$	13,753,795	3.92	%	$	10,012,397	2.72	%	$	3,741,398		37.37	%

^{(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 September 30, 2014 and December 31, 2013 and for the three and nine months ended September 30, 2014 and 2013.



			At				For the Three Months Ended September 30,
	September 30, 2014						2014				2013
Impaired Loans	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
With No Related Allowance Recorded:
Residential Real Estate	$	2,567,695	$	2,665,884	$	—	$	2,618,971	$	—	$	3,834,984	$	9,662
Consumer Loans	155,176		162,677		—		161,882		—		397,003		1,783
Commercial Business	16,089		16,089		—		16,089		—		21,438		226
Commercial Real Estate	16,432,495		20,824,664		—		16,726,235		98,542		28,838,663		271,472
With An Allowance Recorded:
Residential Real Estate	—		—		—		—		—		405,872		—
Consumer Loans	66,870		66,870		2,600		67,239		2,082		—		—
Commercial Business	436,030		436,030		200,000		458,059		—		—		—
Commercial Real Estate	1,153,824		1,160,624		104,500		1,159,433		22,781		1,151,053		8,326
Total
Residential Real Estate	2,567,695		2,665,884		—		2,618,971		—		4,240,856		9,662
Consumer Loans	222,046		229,547		2,600		229,121		2,082		397,003		1,783
Commercial Business	452,119		452,119		200,000		474,148		—		21,438		226
Commercial Real Estate	17,586,319		21,985,288		104,500		17,885,668		121,323		29,989,716		279,798
Total	$	20,828,179	$	25,332,838	$	307,100	$	21,207,908	$	123,405	$	34,649,013	$	291,469

9. Loans Receivable, Net, Continued



	For the Nine Months Ended September 30,
	2014				2013
Impaired Loans	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
With No Related Allowance Recorded:
Residential Real Estate	$	2,676,070	$	—	$	3,911,750	$	20,289
Consumer Loans	171,364		—		394,775		7,494
Commercial Business	16,089		—		23,745		335
Commercial Real Estate	18,142,478		266,000		30,090,250		1,031,806
With An Allowance Recorded:
Residential Real Estate	—		—		405,872		—
Consumer Loans	67,872		4,168		—		—
Commercial Business	461,206		—		—		—
Commercial Real Estate	1,173,816		51,156		1,278,434		23,274
Total
Residential Real Estate	2,676,070		—		4,317,622		20,289
Consumer Loans	239,236		4,168		394,775		7,494
Commercial Business	477,295		—		23,745		335
Commercial Real Estate	19,316,294		317,156		31,368,684		1,055,080
Total	$	22,708,895	$	321,324	$	36,104,826	$	1,083,198



	December 31, 2013
Impaired Loans	Recorded Investment		Unpaid Principal Balance		Related Allowance
With No Related Allowance Recorded:
Residential Real Estate	$	3,936,316	$	4,588,645	$	—
Consumer Loans	106,197		106,198		—
Commercial Business	19,775		19,775		—
Commercial Real Estate	21,810,347		26,775,853		—
With An Allowance Recorded:
Residential Real Estate	901,920		901,920		158,791
Consumer Loans	169,294		169,294		103,109
Commercial Business	—		—		—
Commercial Real Estate	4,410,965		4,954,058		840,658
Total
Residential Real Estate	4,838,236		5,490,565		158,791
Consumer Loans	275,491		275,492		103,109
Commercial Business	19,775		19,775		—
Commercial Real Estate	26,221,312		31,729,911		840,658
Total	$	31,354,814	$	37,515,743	$	1,102,558

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, 2014					For the Nine Months Ended September 30, 2013
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	—	—		—		—	—		—
Commercial Business	—	—		—		—	—		—
Commercial Real Estate	1	79,072		79,072		4	1,651,023		1,651,023
Total	1	$	79,072	$	79,072	4	$	1,651,023	$	1,651,023

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, 2014
	Residential Real Estate			Consumer			Commercial Business			Commercial Real Estate			Total
Beginning Balance	$	1,507,281		$	833,746		$	496,578		$	6,274,552		$	9,112,157
Provision	26,596			73,403			36,529			(136,528		)	—
Charge-Offs	(71,701		)	(75,262		)	(3,703		)	(440,276		)	(590,942		)
Recoveries	121			8,440			1,950			115,248			125,759
Ending Balance	$	1,462,297		$	840,327		$	531,354		$	5,812,996		$	8,646,974



	For the Nine Months Ended September 30, 2014
	Residential Real Estate			Consumer			Commercial Business			Commercial Real Estate			Total
Beginning Balance	$	1,706,643		$	847,777		$	426,658		$	7,260,892		$	10,241,970
Provision	(60,716		)	230,236			104,527			(74,047		)	200,000
Charge-Offs	(319,364		)	(283,302		)	(20,835		)	(1,761,493		)	(2,384,994		)
Recoveries	135,734			45,616			21,004			387,644			589,998
Ending Balance	$	1,462,297		$	840,327		$	531,354		$	5,812,996		$	8,646,974

9. Loans Receivable, Net, Continued



	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 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

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, 2014		December 31, 2013
Residential Real Estate Loans	$	79,702,132	$	83,004,482
Consumer Loans	50,290,048		52,205,901
Commercial Business	10,154,181		7,775,098
Commercial Real Estate	213,004,588		228,399,555
Total Loans Held For Investment	353,150,949		371,385,036
Loans Held For Sale	2,057,504		1,234,158
Total Loans Receivable, Gross	355,208,453		372,619,194
Less:
Allowance For Loan Losses	8,646,974		10,241,970
Loans In Process	2,412,953		3,465,072
Deferred Loan Fees (Costs)	33,659		(4,513		)
	11,093,586		13,702,529
Total Loans Receivable, Net	$	344,114,867	$	358,916,665

Schedule of Allowance for Loan Losses

Changes in the allowance for loan losses for the three and nine months ended September 30, 2014 and 2013 are summarized as follows:



	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Balance At Beginning Of Period	$	9,112,157		$	11,007,279		$	10,241,970		$	11,318,371
Provision For Loan Losses	—			600,000			200,000			2,645,381
Charge Offs	(590,942		)	(1,002,990		)	(2,384,994		)	(3,470,300		)
Recoveries	125,759			45,042			589,998			155,879
Total Allowance For Loan Losses	$	8,646,974		$	10,649,331		$	8,646,974		$	10,649,331

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.

9. Loans Receivable, Net, Continued



	Credit Quality Measures
September 30, 2014	Pass		Caution		Special Mention		Substandard		Total Loans
Residential Real Estate	$	71,912,700	$	966,600	$	645,340	$	6,177,492	$	79,702,132
Consumer	48,075,273		1,054,675		133,982		1,026,118		50,290,048
Commercial Business	9,209,345		362,845		110,068		471,923		10,154,181
Commercial Real Estate	123,194,407		38,901,566		35,187,083		15,721,532		213,004,588
Total	$	252,391,725	$	41,285,686	$	36,076,473	$	23,397,065	$	353,150,949



	Credit Quality Measures
December 31, 2013	Pass		Caution		Special Mention		Substandard		Total Loans
Residential Real Estate	$	74,505,587	$	890,902	$	403,138	$	7,204,855	$	83,004,482
Consumer	50,370,640		843,799		143,649		847,813		52,205,901
Commercial Business	6,807,620		368,019		524,928		74,531		7,775,098
Commercial Real Estate	135,793,150		43,252,464		25,581,235		23,772,706		228,399,555
Total	$	267,476,997	$	45,355,184	$	26,652,950	$	31,899,905	$	371,385,036

Past Due Financing Receivables [Table Text Block]

The following table presents an age analysis of past due balances by category at September 30, 2014:



	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	$	—	$	983,996	$	3,121,609	$	4,105,605	$	75,596,527	$	79,702,132
Consumer	735,649		85,847		543,421		1,364,917		48,925,131		50,290,048
Commercial Business	242,346		21,290		452,119		715,755		9,438,426		10,154,181
Commercial Real Estate	4,809,091		452,022		9,636,646		14,897,759		198,106,829		213,004,588
Total	$	5,787,086	$	1,543,155	$	13,753,795	$	21,084,036	$	332,066,913	$	353,150,949

The following table presents an age analysis of past due balances by category at December 31, 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	$	—	$	1,363,132	$	4,607,613	$	5,970,745	$	77,033,737	$	83,004,482
Consumer	1,494,429		234,878		399,062		2,128,369		50,077,532		52,205,901
Commercial Business	115,186		—		33,055		148,241		7,626,857		7,775,098
Commercial Real Estate	5,103,522		2,046,666		4,972,667		12,122,855		216,276,700		228,399,555
Total	$	6,713,137	$	3,644,676	$	10,012,397	$	20,370,210	$	351,014,826	$	371,385,036

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, 2014	Individually Evaluated For Impairment		Collectively Evaluated For Impairment		Total
Residential Real Estate	$	2,567,695	$	77,134,437	$	79,702,132
Consumer	222,046		50,068,002		50,290,048
Commercial Business	452,119		9,702,062		10,154,181
Commercial Real Estate	17,586,319		195,418,269		213,004,588
Total	$	20,828,179	$	332,322,770	$	353,150,949



	Loans Receivable
December 31, 2013	Individually Evaluated For Impairment		Collectively Evaluated For Impairment		Total
Residential Real Estate	$	4,838,236	$	78,166,246	$	83,004,482
Consumer	275,491		51,930,410		52,205,901
Commercial Business	19,775		7,755,323		7,775,098
Commercial Real Estate	26,221,312		202,178,243		228,399,555
Total	$	31,354,814	$	340,030,222	$	371,385,036

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, 2014	Individually Evaluated For Impairment		Collectively Evaluated For Impairment		Total
Residential Real Estate	$	—	$	1,462,297	$	1,462,297
Consumer	2,600		837,727		840,327
Commercial Business	200,000		331,354		531,354
Commercial Real Estate	104,500		5,708,496		5,812,996
Total	$	307,100	$	8,339,874	$	8,646,974



	Allowance For Loan Losses
December 31, 2013	Individually Evaluated For Impairment		Collectively Evaluated For Impairment		Total
Residential Real Estate	$	158,791	$	1,547,852	$	1,706,643
Consumer	103,109		744,668		847,777
Commercial Business	—		426,658		426,658
Commercial Real Estate	840,658		6,420,234		7,260,892
Total	$	1,102,558	$	9,139,412	$	10,241,970