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COMMITMENTS (Table)
6 Months Ended
Jun. 30, 2012
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block]

The following is a summary of the contract amount of the Company’s exposure to off-balance sheet commitments at June 30, 2012:

 

Undisbursed lines of credit   $ 30,553,734  
Commitments to extend credit     72,851,729  
Financial standby letters of credit     4,461,104  
Capital commitment to private investment fund     175,000