SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (REPOs)

12 Months Ended

Dec. 31, 2012

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (REPOs) [Abstract]

SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE (REPOs)

11.   SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE ("REPOs")

Presented below is information concerning REPOs:

	At or for the Year Ended December 31,
	2012			2011			2010
Balance outstanding at end of period	$	-		$	195,000		$	195,000
Average interest cost at end of period		-	%		4.33	%		4.33	%
Average balance outstanding during the period	$	132,910		$	195,000		$	203,055
Average interest cost during the period		26.24	%(a)		4.33	%		4.33	%
Estimated fair value of underlying collateral	$	-		$	214,446		$	214,539
Maximum balance outstanding at month end during the year	$	195,000		$	195,000		$	230,000

(a) Excluding a prepayment charge of $28,772 included in interest expense on borrowed funds in the consolidated statements of operations, the average interest cost would have been 4.33% during the year ended December 31, 2012.