Other real estate owned (Tables)

12 Months Ended

Dec. 31, 2012

Other real estate owned [Abstract]

Rollforward of other real estate owned

Transactions in other real estate owned were as follows:

	2012			2011			2010
Beginning balance	$	1,715,138		$	779,500		$	1,433,000
Net realizable value of foreclosed properties		-			1,172,138			-
		1,715,138			1,951,638			1,433,000
Proceeds of sales, net of expenses		(55,986	)		(178,629	)		(452,596	)
Gain (loss) on sale		108			(3,871	)		11,096
Valuation reduction		(218,360	)		(54,000	)		(212,000	)
Ending balance	$	1,440,900		$	1,715,138		$	779,500

Other real estate owned by type

The following table presents the number of and types of property in other real estate owned at December 31:

	2012				2011				2010
	Number		Balance		Number		Balance		Number		Balance
Construction, land devlelopment, and land		2	$	574,300		3	$	785,987		1	$	597,000
Residential 1 to 4 family, 1st liens		1		866,600		1		929,151		1		182,500
		3	$	1,440,900		4	$	1,715,138		2	$	779,500