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LOANS AND ALLOWANCE (Tables)

9 Months Ended

Sep. 30, 2013

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

	September 30, 2013			December 31, 2012
	(Unaudited)
	(In Thousands)
Construction / Land	$	23,828		$	26,506
One-to-four family residential		138,319			137,402
Multi-family residential		17,695			19,988
Nonresidential and agricultural land		124,083			106,433
Commercial		24,299			19,549
Consumer		4,672			4,906
		332,896			314,784
Unamortized deferred loan costs		480			484
Undisbursed loans in process		(12,476	)		(6,186	)
Allowance for loan losses		(4,340	)		(3,564	)
Total loans	$	316,560		$	305,518

Schedule of the activity in the allowance for loan losses

	Construction / Land			1-4 Family			Multi-Family		Nonresidential and Agricultural Land			Commercial			Consumer			Total
	(Unaudited; In Thousands)
Three Months Ended September 30, 2013
Balances at beginning of period:	$	673		$	1,821		$	297	$	1,102		$	141		$	2		$	4,036
Provision for losses		(350	)		421			28		(447	)		191			177			20
Loans charged off		(38	)		(83	)		-		-			(2	)		(62	)		(185	)
Recoveries on loans		-			3			-		438			8			20			469
Balances at end of period	$	285		$	2,162		$	325	$	1,093		$	338		$	137		$	4,340

Nine Months Ended September 30, 2013
Balances at beginning of period	$	649		$	1,423		$	281	$	1,077		$	132		$	2		$	3,564
Provision for losses		(283	)		904			44		(562	)		337			216			656
Loans charged off		(99	)		(170	)		-		(175	)		(139	)		(136	)		(719	)
Recoveries on loans		18			5			-		753			8			55			839
Balances at end of period	$	285		$	2,162		$	325	$	1,093		$	338		$	137		$	4,340

As of September 30, 2013
Allowance for losses:
Individually evaluated for impairment:	$	196		$	466		$	195	$	97		$	74		$	-		$	1,028
Collectively evaluated for impairment:		89			1,524			112		983			262			134			3,104
Loans acquired with a deteriorated credit quality:		-			172			18		13			2			3			208
Balances at end of period	$	285		$	2,162		$	325	$	1,093		$	338		$	137		$	4,340

Loans:
Individually evaluated for impairment:	$	4,524		$	5,449		$	1,081	$	4,127		$	402		$	11		$	15,594
Collectively evaluated for impairment:		18,938			131,548			16,129		119,222			23,878			4,638			314,353
Loans acquired with a deteriorated credit quality:		366			1,322			485		734			19			23			2,949
Balances at end of period	$	23,828		$	138,319		$	17,695	$	124,083		$	24,299		$	4,672		$	332,896

	Construction / Land			1-4 Family			Multi-Family		Nonresidential and Agricultural Land			Commercial		Consumer			Total
	(In Thousands)
Three Months Ended September 30, 2012
Balances at beginning of period:	$	734		$	1,390		$	283	$	1,091		$	8	$	15		$	3,521
Provision for losses		(123	)		(13	)		5		301			82		16			268
Loans charged off		-			(32	)		-		(102	)		-		(20	)		(154	)
Recoveries on loans		-			-			-		3			-		4			7
Balances at end of period	$	611		$	1,345		$	288	$	1,293		$	90	$	15		$	3,642

Nine Months Ended September 30, 2012
Balances at beginning of period:	$	1,016		$	1,986		$	65	$	822		$	70	$	44		$	4,003
Provision for losses		(69	)		273			223		599			20		18			1,064
Loans charged off		(340	)		(994	)		-		(131	)		-		(65	)		(1,530	)
Recoveries on loans		4			80			-		3			-		18			105
Balances at end of period	$	611		$	1,345		$	288	$	1,293		$	90	$	15		$	3,642

	Construction / Land		1-4 Family		Multi-Family		Nonresidential and Agricultural Land		Commercial		Consumer		Total
	(In Thousands)
As of December 31, 2012
Allowance for losses:
Individually evaluated for impairment:	$	195	$	310	$	196	$	-	$	93	$	-	$	794
Collectively evaluated for impairment:		453		1,113		85		1,078		40		1		2,770
Loans acquired with a deteriorated credit quality:		-		-		-		-		-		-		-
Balances at end of period	$	648	$	1,423	$	281	$	1,078	$	133	$	1	$	3,564

Loans:
Individually evaluated for impairment:	$	4,752	$	4,517	$	1,104	$	3,278	$	565	$	12	$	14,228
Collectively evaluated for impairment:		21,453		131,465		18,433		102,292		18,946		4,864		297,453
Loans acquired with a deteriorated credit quality:		301		1,420		451		863		38		30		3,103
Balances at end of period	$	26,506	$	137,402	$	19,988	$	106,433	$	19,549	$	4,906	$	314,784

Schedule of credit risk profile of the Corporation's loan portfolio based on rating category

September 30, 2013	Total Portfolio		Pass		Special Mention		Substandard		Doubtful
	(Unaudited; In Thousands)

Construction / Land	$	23,828	$	19,034	$	118	$	4,676	$	-
1-4 family residential		138,319		126,031		4,442		7,144		702
Multi-family residential		17,695		16,087		44		1,564		-
Nonresidential and agricultural land		124,083		115,701		2,703		5,055		624
Commercial		24,299		23,329		24		870		76
Consumer		4,672		4,630		1		41		-
Total Loans	$	332,896	$	304,812	$	7,332	$	19,350	$	1,402

December 31, 2012	Total Portfolio		Pass		Special Mention		Substandard		Doubtful
	(In Thousands)

Construction / Land	$	26,506	$	20,952	$	314	$	4,909	$	331
1-4 family residential		137,402		123,705		6,597		5,885		1,215
Multi-family residential		19,988		17,546		186		2,256		-
Nonresidential and agricultural land		106,433		97,307		4,931		2,793		1,402
Commercial		19,549		18,869		15		414		251
Consumer		4,906		4,863		14		29		-
Total Loans	$	314,784	$	283,242	$	12,057	$	16,286	$	3,199

Schedule of Corporation's loan portfolio aging analysis

September 30, 2013	30-59 Days Past Due		60-89 Days Past Due		Greater than 90 Days		Total Past Due		Current		Purchased Credit Impaired Loans		Total Loans Receivable
	(Unaudited; In Thousands)

Construction / Land	$	38	$	304	$	71	$	413	$	23,049	$	366	$	23,828
1-4 family residential		857		949		1,902		3,708		133,289		1,322		138,319
Multi-family residential		44		-		-		44		17,166		485		17,695
Nonresidential and agricultural land		525		199		947		1,671		121,678		734		124,083
Commercial		42		-		632		674		23,606		19		24,299
Consumer		43		14		19		76		4,573		23		4,672
	$	1,549	$	1,466	$	3,571	$	6,586	$	323,361	$	2,949	$	332,896

December 31, 2012	30-59 Days Past Due		60-89 Days Past Due		Greater than 90 Days		Total Past Due		Current		Purchased Credit Impaired Loans		Total Loans Receivable
	(In Thousands)

Construction / Land	$	63	$	-	$	556	$	619	$	25,586	$	301	$	26,506
1-4 family residential		1,347		768		1,408		3,523		132,459		1,420		137,402
Multi-family residential		-		-		-		-		19,537		451		19,988
Nonresidential and agricultural land		276		-		753		1,029		104,541		863		106,433
Commercial		100		-		251		351		19,160		38		19,549
Consumer		36		-		2		38		4,838		30		4,906
	$	1,822	$	768	$	2,970	$	5,560	$	306,121	$	3,103	$	314,784

Schedule of Corporation's nonaccrual loans

	September 30, 2013			December 31, 2012
	(Unaudited)
	(In Thousands)

Construction / Land	$	5,206		$	4,798
One-to-four family residential		3,118			2,687
Multi-family residential		1,081			1,104
Nonresidential and agricultural land		1,769			1,678
Commercial		521			567
Consumer		19			16
Total nonaccrual loans	$	11,714		$	10,850

Nonaccrual loans as a percent of total loans receivable		3.52	%		3.45	%

Schedule of principal balances and specific valuation allocations for impaired loans

The following tables present information pertaining to the principal balances and specific valuation allocations for impaired loans, as of September 30, 2013 (unaudited; in thousands):

Impaired loans without a specific allowance:	Recorded Investment		Unpaid Principal Balance		Specific Allowance
Construction / Land	$	2,646	$	2,875	$	-
1-4 family residential		3,824		3,893		-
Multi-family residential		52		53		-
Nonresidential and agricultural land		3,222		3,699	-
Commercial		242		406		-
Consumer		11		11		-
	$	9,997	$	10,937	$	-

Impaired loans with a specific allowance:	Recorded Investment		Unpaid Principal Balance		Specific Allowance
Construction / Land	$	1,878	$	1,891	$	196
1-4 family residential		1,625		1,645		466
Multi-family residential		1,029		1,046		195
Nonresidential and agricultural land		905		905		97
Commercial		160		168		74
Consumer		-		-		-
	$	5,597	$	5,655	$	1,028

Total impaired loans:	Recorded Investment		Unpaid Principal Balance		Specific Allowance
Construction / Land	$	4,524	$	4,766	$	196
1-4 family residential		5,449		5,538		466
Multi-family residential		1,081		1,099		195
Nonresidential and agricultural land		4,127		4,604		97
Commercial		402		574		74
Consumer		11		11		-
	$	15,594	$	16,592	$	1,028

The following tables present information pertaining to the principal balances and specific valuation allocations for impaired loans, as of December 31, 2012:

Impaired loans without a specific allowance:	Recorded Investment		Unpaid Principal Balance		Specific Allowance
Construction / Land	$	2,870	$	3,379	$	-
1-4 family residential		3,562		3,612		-
Multi-family residential		53		54		-
Nonresidential and agricultural land		3,278		4,439		-
Commercial		386		418		-
Consumer		12		12		-
	$	10,161	$	11,914	$	-

Impaired loans with a specific allowance:	Recorded Investment		Unpaid Principal Balance		Specific Allowance
Construction / Land	$	1,882	$	1,882	$	195
1-4 family residential		955		957		310
Multi-family residential		1,051		1,061		196
Nonresidential and agricultural land		-		-		-
Commercial		179		186		93
Consumer		-		-		-
	$	4,067	$	4,086	$	794

Total impaired loans:

	Recorded Investment			Unpaid Principal Balance			Specific Allowance
Construction / Land		$	4,752		$	5,261		$	195
1-4 family residential			4,517			4,569			310
Multi-family residential			1,104			1,115			196
Nonresidential and agricultural land			3,278			4,439			-
Commercial			565			604			93
Consumer			12			12			-
		$	14,228		$	16,000		$	794

Schedule of information related to the average recorded investment and interest income recognized on impaired loans

	Nine Months Ended September 30, 2013				Nine Months Ended September 30, 2012
	Average Investment		Interest Income Recognized		Average Investment		Interest Income Recognized
	(Unaudited; In Thousands)
Construction / Land	$	4,563	$	110	$	4,616	$	1
1-4 family residential		4,993		150		6,231		134
Multi-family residential		1,087		19		759		6
Nonresidential and agricultural land		3,855		172		3,831		55
Commercial		465		25		476		16
Consumer		11		1		15		1
	$	14,974	$	477	$	15,928	$	213

	Three Months Ended September 30, 2013				Three Months Ended September 30, 2012
	Average Investment		Interest Income Recognized		Average Investment		Interest Income Recognized
	(Unaudited; In Thousands)
Construction / Land	$	4,886	$	38	$	4,641	$	1
1-4 family residential		5,806		60		5,142		37
Multi-family residential		1,081		6		1,117		1
Nonresidential and agricultural land		5,035		36		4,083		21
Commercial		445		5		517		1
Consumer		11		-		14		1
	$	17,264	$	145	$	15,514	$	62

Schedule of troubled debt restructurings by class

	For the Nine-Month Period Ended September 30, 2013						For the Nine-Month Period Ended September 30, 2012
	# of Loans		Pre-Modification Recorded Balance		Post-Modification Recorded Balance		# of Loans		Pre-Modification Recorded Balance		Post-Modification Recorded Balance
	(Unaudited; Dollars In Thousands)

Construction / Land		4	$	140	$	309		1	$	76	$	100
One-to-four family residential		8		342		357		5		1,204		1,249
Multi-family residential		-		-		-		1		1,068		1,082
Nonresidential and agricultural land		2		935		935		-		-		-
Commercial		5		54		113		5		202		211
Consumer		-		-		-		-		-		-
		19	$	1,471	$	1,714		12	$	2,550	$	2,642

	For the Three-Month Period Ended September 30, 2013						For the Three-Month Period Ended September 30, 2012
	# of Loans		Pre-Modification Recorded Balance		Post-Modification Recorded Balance		# of Loans		Pre-Modification Recorded Balance		Post-Modification Recorded Balance
	(Unaudited; Dollars In Thousands)

Construction / Land		1	$	37	$	37		1	$	76	$	100
One-to-four family residential		-		-		-		-		-		-
Multi-family residential		-		-		-		-		-		-
Nonresidential and agricultural land		-		-		-		-		-		-
Commercial		1		17		15		3		33		41
Consumer		-		-		-		-		-		-
		2	$	54	$	52		4	$	109	$	141

Schedule of troubled debt restructurings by type of modification

September 30, 2013	Interest Only		Term		Combination		Total Modifications
Construction / Land	$	-	$	138	$	171	$	309
1-4 family residential		-		204		153		357
Multi-family residential		-		-		-		-
Nonresidential and agricultural land		-		-		935		935
Commercial		-		-		113		113
Consumer		-		-		-		-
	$	-	$	342	$	1,372	$	1,714

September 30, 2012	Interest Only		Term		Combination		Total Modifications
Construction / Land	$	-	$	-	$	100	$	100
1-4 family residential		-		531		718		1,249
Multi-family residential		-		1,082		-		1,082
Nonresidential and agricultural land		-		-		-		-
Commercial		-		-		211		211
Consumer		-		-		-		-
	$	-	$	1,613	$	1,029	$	2,642