Note 7 - Short-Term Borrowings

12 Months Ended

Dec. 31, 2013

Disclosure Text Block [Abstract]

Short-term Debt [Text Block]

Note 7.     Short-Term Borrowings

Short-term borrowings as of December 31, 2013 and 2012 are summarized as follows:

	2013		2012
Overnight repurchase agreements with customers	$	98,822,967	$	104,942,961
Federal funds purchased		50,470,000		66,140,000
	$	149,292,967	$	171,082,961

Information concerning overnight repurchase agreements with customers is summarized as follows as of December 31, 2013 and 2012:

	2013			2012
Average daily balance during the period	$	123,543,416		$	111,782,307
Average daily interest rate during the period		0.12	%		0.13	%
Maximum month-end balance during the period	$	146,075,177		$	141,890,506
Weighted average rate as of end of period		0.13	%		0.11	%
Securities underlying the agreements as of end of period:
Carrying value	$	143,262,002		$	160,950,808
Fair value		143,262,002			160,950,808

The securities underlying the agreements as of December 31, 2013 and 2012 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, 2013 and 2012:

	2013			2012
Average daily balance during the period	$	41,156,729		$	52,379,823
Average daily interest rate during the period		0.40	%		0.27	%
Maximum month-end balance during the period	$	95,380,000		$	80,150,000
Weighted average rate as of end of period		0.28	%		0.26	%