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INVESTMENT SECURITIES AVAILABLE FOR SALE (Tables)
 12 Months Ended
Dec. 31, 2012
Investment Securities Available For Sale Tables  
Schedule of Investment Securities Available for Sale

The amortized cost and fair value of investment securities available for sale are summarized as follows:

 

   DECEMBER 31, 2012 
   AMORTIZED COST   GROSS UNREALIZED GAINS   GROSS UNREALIZED LOSSES   ESTIMATED FAIR VALUE 
                 
U.S. Treasury Notes  $6,097,750   $116,000   $—   $6,213,750 
Government-Sponsored Enterprises   17,822,858    521,174    —    18,344,032 
Municipal Securities   31,101,401    2,858,625    3,592    33,956,434 
                     
Total  $55,022,009   $3,495,799   $3,592   $58,514,216 

 

   DECEMBER 31, 2011 
   AMORTIZED COST   GROSS UNREALIZED GAINS   GROSS UNREALIZED LOSSES   ESTIMATED FAIR VALUE 
                 
U.S. Treasury Notes  $6,153,299   $157,483   $—   $6,310,782 
Government-Sponsored Enterprises   18,100,730    333,387    —    18,434,117 
Municipal Securities   32,101,781    2,706,597    1,117    34,807,261 
                     
Total  $56,355,810   $3,197,467   $1,117   $59,552,160 

 
Schedule of Contractual Maturity of Investment Securities Available for Sale

The amortized cost and estimated fair value of investment securities available for sale at December 31, 2012, by contractual maturity are as follows:

 

 
DECEMBER 31, 2012
   AMORTIZED COST   ESTIMATED FAIR VALUE 
         
Due in one year or less  $2,331,067   $2,336,933 
Due in one year to five years   32,183,058    33,321,740 
Due in five years to ten years   11,407,945    12,718,115 
Due in ten years and over   9,099,939    10,137,428 
           
Total  $55,022,009   $58,514,216 

  
Schedule of Investment Securities Available for Sale in a Continuous Unrealized Loss Position

Gross unrealized losses and the estimated fair value of the related securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at December 31, 2012 and December 31, 2011 are as follows:

 

DECMBER 31, 2012
   Less than 12 months   12 months or longer   Total 
Descriptions of Securities  Fair
Value		   Unrealized Losses   Fair
Value		   Unrealized Losses   Fair
Value		   Unrealized Losses 
Municipal Securities   1,973,303    3,592    —    —    1,973,303    3,592 

 

DECMBER 31, 2011
   Less than 12 months   12 months or longer   Total 
Descriptions of Securities  Fair
Value		   Unrealized Losses   Fair
Value		   Unrealized Losses   Fair
Value		   Unrealized Losses 
Municipal Securities   243,884    1,117    —    —    243,884    1,117