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OTHER REAL ESTATE OWNED
3 Months Ended
Mar. 31, 2012
OTHER REAL ESTATE OWNED  
OTHER REAL ESTATE OWNED

NOTE 8 - OTHER REAL ESTATE OWNED

 

Transactions in other real estate owned for the periods ended March 31, 2012 and December 31, 2011 are summarized below:

 

 

 

2012

 

2011

 

Balance, beginning of year

 

$

18,905,600

 

$

11,905,865

 

Additions

 

2,966,547

 

15,305,144

 

Sales

 

(2,520,885

)

(6,123,865

)

Write downs

 

(24,105

)

(2,181,544

)

Balance, end of period

 

$

19,327,157

 

$

18,905,600