RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2012

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

9. Related Party Transactions

In the opinion of management, loans to officers and directors of the Company are made on substantially the same terms including interest rates and collateral, as those prevailing at the time for comparable loans with persons not related to the lender and do not involve more than the normal risk of collectability. There were no outstanding loans to executive officers of the Company as of December 31, 2012, 2011 and 2010. Related party loans are summarized as follows:

	DECEMBER 31,
	2012			2011
Balance at beginning of year	$	9,764,763		$	7,618,873
New loans or advances		4,241,967			5,364,207
Repayments		(3,622,225	)		(3,218,317	)
Balance at end of year	$	10,384,505		$	9,764,763

At December 31, 2012 and 2011 total deposits held by related parties were $4,567,509 and $6,611,683, respectively.