PREMISES AND EQUIPMENT

12 Months Ended

Dec. 31, 2011

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

NOTE F - PREMISES AND EQUIPMENT

The following is a summary of premises and equipment at December 31, 2011 and 2010:

	Successor			Predecessor
	Company			Company
	2011			2010
Land	$	4,005,000		$	4,280,213
Buildings and leasehold improvements		5,215,696			7,161,858
Furniture and equipment		1,138,343			5,165,685
Less accumulated depreciation		(73,246	)		(5,021,836	)
Total	$	10,285,794		$	11,585,920

Depreciation and amortization, which is recorded in occupancy and equipment expense, totaled $74,080 in the successor period of November 19 to December 31, 2011 and $863,245 in the predecessor period of January 1 to November 18, 2011. Depreciation and amortization totaled $1,000,544 and $938,178 in the predecessor years ended December 31, 2010 and 2009, respectively.