Note 3 - Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2012

Past Due Financing Receivables [Table Text Block]

June 30, 2012	Loans 30-59 Days Past Due		Loans 60-89 Days Past Due		Loans 90 or More Days Past Due		Total Past Due Loans		Current Loans		Total Loans
Commercial real estate	$	—	$	—	$	12,450,540	$	12,450,540	$	13,510,000	$	25,960,540
Condominiums		—		—		10,129,631		10,129,631		——		10,129,631
Single family homes		—		—		250,000		250,000		—		250,000
Improved and unimproved land		—		—		28,819,811		28,819,811		—		28,819,811
	$	—	$	—	$	51,649,982	$	51,649,982	$	13,510,000	$	65,159,982

December 31, 2011	Loans 30-59 Days Past Due		Loans 60-89 Days Past Due		Loans 90 or More Days Past Due		Total Past Due Loans		Current Loans		Total Loans
Commercial real estate	$	—	$	—	$	12,457,708	$	12,457,708	$	17,094,823	$	29,552,531
Condominiums		—		—		10,369,534		10,369,534		—		10,369,534
Single family homes		—		—		250,000		250,000		—		250,000
Improved and unimproved land		—		—		29,249,811		29,249,811		—		29,249,811
	$	—	$	—	$	52,327,053	$	52,327,053	$	17,094,823	$	69,421,876

Impaired Financing Receivables [Table Text Block]

	As of June 30, 2012
	Recorded Investment		Unpaid Principal Balance		Related Allowance
With no related allowance recorded:
Commercial Real Estate	$	11,961,974	$	11,371,788	$	—
Condominiums		2,639,751		2,594,631		—
Single family homes		250,195		250,000		—
Improved and unimproved land		4,618,329		4,616,974		—
With an allowance recorded:
Commercial Real Estate		1,078,858		1,078,752		594,287
Condominiums		7,983,281		7,535,000		3,855,281
Single family homes		—		—		—
Improved and unimproved land		24,703,759		24,202,837		18,164,938
Total:
Commercial Real Estate	$	13,040,832	$	12,450,540	$	594,287
Condominiums	$	10,623,032	$	10,129,631	$	3,855,281
Single family homes	$	250,195	$	250,000	$	—
Improved and unimproved land	$	29,322,087	$	28,819,811	$	18,164,938

	Three Months Ended June 30, 2012				Six Months Ended June 30, 2012
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
With no related allowance recorded:
Commercial Real Estate	$	11,892,949	$	30,325	$	11,827,027	$	87,333
Condominiums		2,639,751		30,000		2,719,283		60,000
Single family homes		250,195		6,876		250,195		13,752
Improved and unimproved land		4,618,329		72,382		4,833,329		160,792
With an allowance recorded:
Commercial Real Estate		1,078,858		—		1,078,855		—
Condominiums		7,983,281		69,300		7,983,281		133,257
Single family homes		—		—		—		—
Improved and unimproved land		24,703,434		—		24,528,040		—
Total:
Commercial Real Estate	$	12,971,807	$	30,325	$	12,905,882	$	87,333
Condominiums	$	10,623,032	$	99,300	$	10,702,564	$	193,257
Single family homes	$	250,195	$	6,876	$	250,195	$	13,752
Improved and unimproved land	$	29,321,762	$	72,382	$	29,361,369	$	160,792

	As of December 31, 2011
	Recorded Investment		Unpaid Principal Balance		Related Allowance
With no related allowance recorded:
Commercial Real Estate	$	11,617,607	$	11,263,451	$	—
Condominiums		2,873,107		2,834,534		—
Single family homes		250,195		250,000		—
Improved and unimproved land		5,048,329		5,046,974		—
With an allowance recorded:
Commercial Real Estate		1,194,352		1,194,257		701,543
Condominiums		7,983,281		7,535,000		3,855,281
Single family homes		—		—		—
Improved and unimproved land		24,337,602		24,202,837		17,735,073
Total:
Commercial Real Estate	$	12,811,959	$	12,457,708	$	701,543
Condominiums	$	10,856,388	$	10,369,534	$	3,855,281
Single family homes	$	250,195	$	250,000	$	—
Improved and unimproved land	$	29,385,931	$	29,249,811	$	17,735,073

	Three Months Ended June 30, 2011				Six Months Ended June 30, 2011
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
With no related allowance recorded:
Commercial Real Estate	$	22,566,627	$	400,383	$	25,398,983	$	801,479
Condominiums		3,537,378		90,000		3,534,667		90,000
Single family homes		250,180		4,584		275,462		11,460
Improved and unimproved land		2,284,767		—		73,817		—
With an allowance recorded:
Commercial Real Estate		1,078,847		5,570		1,135,460		22,281
Condominiums		11,567,086		70,313		16,265,946		178,989
Single family homes		—		—		—		—
Improved and unimproved land		46,129,865		64,094		48,399,058		106,094
Total:
Commercial Real Estate	$	23,645,474	$	405,953	$	26,534,443	$	823,760
Condominiums	$	15,104,464	$	160,313	$	19,800,613	$	268,989
Single family homes	$	250,180	$	4,584	$	275,462	$	11,460
Improved and unimproved land	$	48,414,632	$	64,094	$	48,472,875	$	106,094

By Segment [Member]

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

2012		Commercial Real Estate			Condo-miniums		Single Family Homes		Improved and Unimproved Land		Total
Allowance for loan losses:
		Three Months Ended June 30, 2012
Beginning balance	$	2,477,460		$	3,855,281	$	—	$	17,819,942	$	24,152,683
(Reversal) Provision		(108,173	)		—		—		344,996		236,823
Ending Balance	$	2,369,287		$	3,855,281	$	—	$	18,164,938	$	24,389,506

	Six Months Ended June 30, 2012
Beginning balance		$	2,951,543		$	3,855,281	$	—	$	17,735,073	$	24,541,897
(Reversal) Provision			(582,256	)		—		—		429,865		(152,391	)
Ending balance		$	2,369,287		$	3,855,281	$	—	$	18,164,938	$	24,389,506

	As of June 30, 2012
Ending balance: individually evaluated for impairment		$	594,287	$	3,855,281	$	—	$	18,164,938	$	22,614,506
Ending balance: collectively evaluated for impairment		$	1,775,000	$	—	$	—	$	—	$	1,775,000
Loans:
Ending balance		$	$25,960,540	$	10,129,631	$	250,000	$	28,819,811	$	65,159,982
Ending balance: individually evaluated for impairment		$	12,450,540	$	10,129,631	$	250,000	$	28,819,811	$	51,649,982
Ending balance: collectively evaluated for impairment		$	13,510,000	$	—	$	—	$	—	$	13,510,000

2011		Commercial Real Estate			Condo-miniums		Single Family Homes		Improved and Unimproved Land		Total
Allowance for loan losses:
		Three Months Ended June 30, 2011
Beginning balance	$	4,080,561		$	5,527,517	$	—	$	16,124,506	$	25,732,584
(Reversal) Provision		(107,636	)		2,956		—		591,612		486,932
Ending Balance	$	3,972,925		$	5,530,473	$	—	$	16,716,118	$	26,219,516

	Six Months Ended June 30, 2011
Beginning balance		$	4,453,677		$	15,706,726		$	—	$	15,908,112	$	36,068,515
Charge-offs			—			(10,637,729	)		—		—		(10,637,729	)
(Reversal) Provision			(480,752	)		461,476			—		808,006		788,730
Ending balance		$	3,972,925		$	5,530,473		$	—	$	16,716,118	$	26,219,516

	As of December 31, 2011
Ending balance: individually evaluated for impairment		$	701,543	$	3,855,281	$	—	$	17,735,073	$	22,291,897
Ending balance: collectively evaluated for impairment		$	2,250,000	$	—	$	—	$	—	$	2,250,000
Ending balance		$	$2,951,543	$	3,855,281	$	—	$	17,735,073	$	24,541,897
Loans:
Ending balance		$	$29,552,531	$	10,369,534	$	250,000	$	29,249,811	$	69,421,876
Ending balance: individually evaluated for impairment		$	12,457,708	$	10,369,534	$	250,000	$	29,249,811	$	52,327,053
Ending balance: collectively evaluated for impairment		$	17,094,823	$	—	$	—	$	—	$	17,094,823

Current Period [Member]

Troubled Debt Restructurings on Financing Receivables [Table Text Block]

	Modifications During the Three and Six Months Ended June 30, 2012
		Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Troubled Debt Restructurings
Improved and unimproved land			1	$	2,960,770	$	2,960,770

	Modifications During the Three and Six Months Ended June 30, 2011
		Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Troubled Debt Restructurings
Condominiums			1	$	3,511,722	$	3,511,722
Improved and unimproved land			2		5,365,763		5,365,763

Subsequent [Member]

Troubled Debt Restructurings on Financing Receivables [Table Text Block]

Troubled Debt Restructurings	Number of Contracts		Recorded Investment
That Subsequently Defaulted
Condominiums		1	$	3,511,722
Improved and unimproved land		1		2,960,770