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Other Real Estate Owned
9 Months Ended
Sep. 30, 2011
Other Real Estate Owned 
Other Real Estate Owned
NOTE 7: Other Real Estate Owned:
Other real estate owned is recorded at the lower of fair value less estimated selling costs or cost. The balance of other real estate owned at September 30, 2011 was $659,430 compared with $659,492 at December 31, 2010.  Gains and losses on the sale of other real estate owned and subsequent write-downs from periodic reevaluation are charged to other operating income.