Note 6 - Short-Term Borrowings

12 Months Ended

Dec. 31, 2012

Short-term Debt [Text Block]

Note 6.                 Short-Term Borrowings

Short-term borrowings as of December 31, 2012 and 2011 are summarized as follows:

	2012		2011
Overnight repurchase agreements with customers	$	104,942,961	$	110,236,450
Federal funds purchased		66,140,000		103,300,000
	$	171,082,961	$	213,536,450

Information concerning overnight repurchase agreements with customers is summarized as follows as of December 31, 2012 and 2011:

	2012			2011
Average daily balance during the period	$	111,782,307		$	110,468,792
Average daily interest rate during the period		0.13	%		0.23	%
Maximum month-end balance during the period	$	141,890,506		$	117,901,743
Weighted average rate as of end of period		0.11	%		0.23	%
Securities underlying the agreements as of end of period:
Carrying value	$	160,950,808		$	201,053,829
Fair value		160,950,808			201,053,829

The securities underlying the agreements as of December 31, 2012 and 2011 were under the Company's control in safekeeping at third-party financial institutions.

Information concerning federal funds purchased is summarized as follows as of December 31, 2012 and 2011:

	2012			2011
Average daily balance during the period	$	52,379,823		$	33,702,904
Average daily interest rate during the period		0.27	%		0.27	%
Maximum month-end balance during the period	$	80,150,000		$	103,300,000
Weighted average rate as of end of period		0.26	%		0.22	%