XML 125 R51.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 20 - Fair Value (Tables)
12 Months Ended
Dec. 31, 2013
Fair Value Disclosures [Abstract]  
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]
           

Fair Value Measurements at Reporting Date Using

 
   

Fair Value

   

Quoted Prices

in Active

Markets for

Identical Assets

(Level 1)

   

Significant

Other

Observable

Inputs

(Level 2)

   

Significant

Unobservable

Inputs

(Level 3)

 
                                 

December 31, 2013:

                               

Securities available for sale:

                               

U.S. govt. sponsored agency securities

  $ 356,472,987     $ -     $ 356,472,987     $ -  

Residential mortgage-backed securities

    157,429,451       -       157,429,451       -  

Municipal securities

    35,958,857       -       35,958,857       -  

Other securities

    1,897,163       317,698       1,579,465       -  
    $ 551,758,458     $ 317,698     $ 551,440,760     $ -  
                                 

December 31, 2012:

                               

Securities available for sale:

                               

U.S. govt. sponsored agency securities

  $ 338,609,371     $ -     $ 338,609,371     $ -  

Residential mortgage-backed securities

    163,601,103       -       163,601,103       -  

Municipal securities

    26,185,736       -       26,185,736       -  

Trust preferred securities

    139,400       -       139,400       -  

Other securities

    1,624,376       234,453       1,389,923       -  
    $ 530,159,986     $ 234,453     $ 529,925,533     $ -  
           

Fair Value Measurements at Reporting Date Using

 
   

Fair Value

   

Quoted Prices

in Active

Markets for

Identical Assets

(Level 1)

   

Significant

Other

Observable

Inputs

(Level 2)

   

Significant

Unobservable

Inputs

(Level 3)

 

December 31, 2013:

                               

Impaired loans/leases

  $ 9,009,557     $ -     $ -     $ 9,009,557  

Other real estate owned

    10,507,377       -       -       10,507,377  
    $ 19,516,934     $ -     $ -     $ 19,516,934  
                                 

December 31, 2012:

                               

Impaired loans/leases

  $ 18,054,234     $ -     $ -     $ 18,054,234  

Other real estate owned

    4,270,901       -       -       4,270,901  
    $ 22,325,135     $ -     $ -     $ 22,325,135  
Fair Value Inputs, Assets, Quantitative Information [Table Text Block]
   

Quantitave Information about Level Fair Value Measurments

 
   

Fair Value

 

Valuation Technique

Unobservable Input

 

Range

 
                       

December 31, 2013:

                     

Impaired loans/leases

  $ 9,009,557  

Appraisal of collateral

Appraisal adjustments

  -10.00% to -50.00%  

Other real estate owned

    10,507,377  

Appraisal of collateral

Appraisal adjustments

  0.00% to -35.00%  
   

Quantitave Information about Level Fair Value Measurments

 
   

Fair Value

 

Valuation Technique

Unobservable Input

 

Range

 
                       

December 31, 2012:

                     

Impaired loans/leases

  $ 18,054,234  

Appraisal of collateral

Appraisal adjustments

  -10.00% to -50.00%  

Other real estate owned

    4,270,901  

Appraisal of collateral

Appraisal adjustments

  0.00% to -35.00%  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
 

Fair Value

 

As of December 31, 2013

   

As of December 31, 2012

 
 

Heirarchy

Level

 

Carrying

Value

   

Estimated

Fair Value

   

Carrying

Value

   

Estimated

Fair Value

 
                                   

Cash and due from banks

Level 1

  $ 41,950,790     $ 41,950,790     $ 61,568,446     $ 61,568,446  

Federal funds sold

Level 2

    39,435,000       39,435,000       26,560,000       26,560,000  

Interest-bearing deposits at financial institutions

Level 2

    33,044,917       33,044,917       22,359,490       22,359,490  

Investment securities:

                                 

Held to maturity

Level 3

    145,451,895       138,640,105       72,079,385       73,005,706  

Available for sale

See Previous Table

    551,758,458       551,758,458       530,159,986       530,159,986  

Loans/leases receivable, net

Level 3

    8,342,182       9,009,557       16,716,883       18,054,234  

Loans/leases receivable, net

Level 2

    1,430,489,328       1,441,952,443       1,250,745,552       1,262,090,766  

Deposits:

                                 

Nonmaturity deposits

Level 2

    1,256,209,352       1,256,209,352       1,039,572,326       1,039,572,326  

Time deposits

Level 2

    390,781,891       394,202,000       334,541,774       337,343,000  

Short-term borrowings

Level 2

    149,292,967       149,292,967       171,082,961       171,082,961  

Federal Home Loan Bank advances

Level 2

    231,350,000       241,623,000       202,350,000       220,815,000  

Other borrowings

Level 2

    142,448,362       152,761,000       138,239,762       154,101,000  

Junior subordinated debentures

Level 2

    40,289,830       28,094,228       36,085,000       18,786,000