LOANS (Tables)

12 Months Ended

Dec. 31, 2012

LOANS

Schedule of components of loans

	At December 31,
	2012			2011
Real estate loans:
One-to-four family	$	112,350,393		$	115,540,320
Multi-family	42,203,212			39,481,726
Commercial	138,766,873			128,656,804
Construction and land	30,143,957			44,192,020
	323,464,435			327,870,870
Commercial business	71,251,082			48,676,963
Consumer:
Home equity	12,062,108			19,139,850
Automobile and other	1,462,909			1,414,711
	13,525,017			20,554,561
Total gross loans	408,240,534			397,102,394
Undisbursed portion of construction loans	(7,376,713		)	(1,725,311		)
Deferred loan origination costs (fees), net	(50,610		)	46,825
Allowance for loan losses	(5,944,585		)	(7,789,262		)
Loans, net	$	394,868,626		$	387,634,646

Summary of changes in loans to directors, executive officers, their immediate families and companies in which these individuals have a 10% or more beneficial ownership

	Year Ended
	December 31,
	2012			2011
Balance, beginning of year	$	19,402,842		$	10,347,217
Additions	1,748,927			9,753,434
Repayments	(13,023,026		)	(695,809		)
Change in status of borrower	—			(2,000		)
Balance, end of year	$	8,128,743		$	19,402,842

Schedule of past-due loans

December 31, 2012

	Loans 30-59 Days Past Due		Loans 60-89 Days Past Due		Loans 90 or More Days Past Due		Total Past Due Loans		Current Loans		Total		Accruing Loans 90 or More Days Past Due
Real estate loans:
One-to-four family	$	318,052	$	577,608	$	1,811,054	$	2,706,714	$	109,643,679	$	112,350,393	$	182,770
Multi-family	—		—		—		—		42,203,212		42,203,212		—
Commercial	638,330		—		535,402		1,173,732		137,593,141		138,766,873		—
Construction and land	—		—		375,418		375,418		29,768,539		30,143,957		—
	956,382		577,608		2,721,874		4,255,864		319,208,571		323,464,435		182,770
Commercial business	217,800		—		286,692		504,492		70,746,590		71,251,082		26,234
Consumer:
Home equity	48,383		34,980		49,090		132,453		11,929,655		12,062,108		—
Automobile and other	—		4,244		5,492		9,736		1,453,173		1,462,909		—
	48,383		39,224		54,582		142,189		13,382,828		13,525,017		—
Total	$	1,222,565	$	616,832	$	3,063,148	$	4,902,545	$	403,337,989	$	408,240,534	$	209,004

December 31, 2011

	Loans 30-59 Days Past Due		Loans 60-89 Days Past Due		Loans 90 or More Days Past Due		Total Past Due Loans		Current Loans		Total		Accruing Loans 90 or More Days Past Due
Real estate loans:
One-to-four family	$	679,214	$	49,977	$	946,915	$	1,676,106	$	113,864,214	$	115,540,320	$	404,984
Multi-family	—		—		235,837		235,837		39,245,889		39,481,726		—
Commercial	—		1,745,863		762,168		2,508,031		126,148,773		128,656,804		—
Construction and land	155,125		229,500		7,130,658		7,515,283		36,676,737		44,192,020		—
	834,339		2,025,340		9,075,578		11,935,257		315,935,613		327,870,870		404,984
Commercial business	202,874		126,674		193,697		523,245		48,153,718		48,676,963		—
Consumer:
Home equity	109,795		123,527		141,777		375,099		18,764,751		19,139,850		—
Automobile and other	—		—		—		—		1,414,711		1,414,711		—
	109,795		123,527		141,777		375,099		20,179,462		20,554,561		—
Total	$	1,147,008	$	2,275,541	$	9,411,052	$	12,833,601	$	384,268,793	$	397,102,394	$	404,984

Schedule of non-accrual loans

	At December 31,
	2012		2011
Real estate loans:
One-to-four family	$	2,087,073	$	1,203,351
Multi-family	3,005,771		1,119,696
Commercial	3,466,342		762,168
Construction and land	2,456,419		7,690,156
	11,015,605		10,775,371
Commercial business	260,458		249,695
Consumer:
Home equity	185,531		141,777
Automobile and other	9,735		—
	195,266		141,777
Total non-accrual loans	$	11,471,329	$	11,166,843

Schedule of activity in the allowance for loan losses

Year ended December 31, 2012

	Beginning Balance		Charge-offs			Recoveries		Provision			Ending Balance
Real estate loans:
One-to-four family	$	777,470	$	(263,026	)	$	1,565	$	331,276		$	847,285
Multi-family	779,680		—			34,312		144,311			958,303
Commercial	1,157,114		(576,046		)	235,354		451,659			1,268,081
Construction and land	3,934,573		(2,123,047		)	21,541		(420,065		)	1,413,002
	6,648,837		(2,962,119		)	292,772		507,181			4,486,671
Commercial business	969,669		(649,749		)	18,225		957,969			1,296,114
Consumer
Home equity	133,234		(92,056		)	—		110,447			151,625
Automobile and other	37,522		(2,297		)	547		(25,597		)	10,175
	170,756		(94,353		)	547		84,850			161,800
Total	$	7,789,262	$	(3,706,221	)	$	311,544	$	1,550,000		$	5,944,585

Year ended December 31, 2011

	Beginning Balance		Charge-offs			Recoveries		Provision			Ending Balance
Real estate loans:
One-to-four family	$	1,161,865	$	(421,102	)	$	37,211	(504		)	$	777,470
Multi-family	299,964		(227,662		)	—		707,378			779,680
Commercial	1,043,023		(378,921		)	7,740		485,272			1,157,114
Construction and land	2,151,810		(1,753,982		)	71,474		3,465,271			3,934,573
	4,656,662		(2,781,667		)	116,425		4,657,417			6,648,837
Commercial business	868,572		(482,744		)	22,294		561,547			969,669
Consumer
Home equity	193,756		(105,441		)	—		44,919			133,234
Automobile and other	9,405		—			—		28,117			37,522
	203,161		(105,441		)	—		73,036			170,756
Total	$	5,728,395	$	(3,369,852	)	$	138,719	$	5,292,000		$	7,789,262

Schedule of allocation of the allowance for loan losses and the loan balances between loans evaluated both individually and collectively

December 31, 2012

	Period-end allowance allocated to loans:						Loans evaluated for impairment:
	Individually evaluated for impairment		Collectively evaluated for impairment		Ending Balance		Individually		Collectively		Ending Balance
Real estate loans:
One-to-four family	$	210,336	$	636,949	$	847,285	$	2,060,316	$	110,290,077	$	112,350,393
Multi-family	533,850		424,453		958,303		3,005,771		39,197,441		42,203,212
Commercial	34,812		1,233,269		1,268,081		3,237,893		135,528,980		138,766,873
Construction and land	—		1,413,002		1,413,002		2,456,419		27,687,538		30,143,957
	778,998		3,707,673		4,486,671		10,760,399		312,704,036		323,464,435
Commercial business	22,713		1,273,401		1,296,114		260,458		70,990,624		71,251,082
Consumer:
Home equity	28,117		123,508		151,625		185,531		11,876,577		12,062,108
Automobile and other	2,572		7,603		10,175		9,735		1,453,174		1,462,909
	30,689		131,111		161,800		195,266		13,329,751		13,525,017
Total	$	832,400	$	5,112,185	$	5,944,585	$	11,216,123	$	397,024,411	$	408,240,534

December 31, 2011

	Period-end allowance allocated to loans:						Loans evaluated for impairment:
	Individually evaluated for impairment		Collectively evaluated for impairment		Ending Balance		Individually		Collectively		Ending Balance
Real estate loans:
One-to-four family	$	383,825	$	393,645	$	777,470	$	2,531,092	$	113,009,228	$	115,540,320
Multi-family	356,260		423,420		779,680		3,640,570		35,841,156		39,481,726
Commercial	98,754		1,058,360		1,157,114		3,357,048		125,299,756		128,656,804
Construction and land	2,080,706		1,853,867		3,934,573		7,845,281		36,346,739		44,192,020
	2,919,545		3,729,292		6,648,837		17,373,991		310,496,879		327,870,870
Commercial business	161,786		807,883		969,669		1,563,746		47,113,217		48,676,963
Consumer:
Home equity	13,814		119,420		133,234		651,248		18,488,602		19,139,850
Automobile and other	—		37,522		37,522		—		1,414,711		1,414,711
	13,814		156,942		170,756		651,248		19,903,313		20,554,561
Total	$	3,095,145	$	4,694,117	$	7,789,262	$	19,588,985	$	377,513,409	$	397,102,394

Schedule of credit quality indicators

December 31, 2012

	Pass		Special Mention		Substandard		Doubtful		Total
Real estate loans:
One-to-four family	$	108,197,672	$	1,882,095	$	1,763,954	$	506,672	$	112,350,393
Multi-family	36,428,424		2,769,017		3,005,771		—		42,203,212
Commercial	121,242,335		11,221,414		6,303,124		—		138,766,873
Construction and land	26,808,635		120,699		2,839,205		375,418		30,143,957
	292,677,066		15,993,225		13,912,054		882,090		323,464,435
Commercial business	70,155,966		834,657		257,897		2,562		71,251,082
Consumer:
Home equity	11,840,875		35,703		185,530		—		12,062,108
Automobile and other	1,453,175		—		4,243		5,491		1,462,909
	13,294,050		35,703		189,773		5,491		13,525,017
Total	$	376,127,082	$	16,863,585	$	14,359,724	$	890,143	$	408,240,534

December 31, 2011

	Pass		Special Mention		Substandard		Doubtful		Total
Real estate loans:
One-to-four family	$	111,752,817	$	1,245,332	$	2,126,651	$	415,520	$	115,540,320
Multi-family	35,841,156		—		3,640,570		—		39,481,726
Commercial	117,634,711		3,856,453		7,061,405		104,235		128,656,804
Construction and land	25,903,980		950,000		17,338,040		—		44,192,020
	291,132,664		6,051,785		30,166,666		519,755		327,870,870
Commercial business	44,805,581		474,961		3,396,421		—		48,676,963
Consumer:
Home equity	17,980,458		471,386		688,006		—		19,139,850
Automobile and other	1,411,319		—		3,392		—		1,414,711
	19,391,777		471,386		691,398		—		20,554,561
Total	$	355,330,022	$	6,998,132	$	34,254,485	$	519,755	$	397,102,394

Schedule of impaired loans

	As of December 31, 2012						As of December 31, 2011
	Unpaid Contractual Principal Balance		Recorded Investment		Allowance for Loan Losses Allocated		Unpaid Contractual Principal Balance		Recorded Investment		Allowance for Loan Losses Allocated
With no related allowance recorded:
Real estate loans:
One-to-four family	$	494,195	$	494,195	$	—	$	799,309	$	799,309	$	—
Multi-family	367,883		215,963		—		387,757		235,837		—
Commercial	3,015,172		2,702,491		—		1,954,587		1,954,587		—
Construction and land	4,480,653		2,456,419		—		2,227,340		1,976,340		—
	8,357,903		5,869,068		—		5,368,993		4,966,073		—
Commercial business	2,562		2,562		—		270,304		270,304		—
Consumer:
Home equity	157,413		157,413		—		637,433		637,434		—
Subtotal	$	8,517,878	$	6,029,043	$	—	$	6,276,730	$	5,873,811	$	—
With an allowance recorded:
Real estate loans:
One-to-four family	$	1,566,121	$	1,566,121	$	210,336	$	1,731,783	$	1,731,783	$	383,825
Multi-family	2,789,808		2,789,808		533,849		3,404,733		3,404,733		356,260
Commercial	535,402		535,402		34,812		1,402,461		1,402,461		98,754
Construction and land	—		—		—		6,799,046		5,868,941		2,080,706
	4,891,331		4,891,331		778,997		13,338,023		12,407,918		2,919,545
Commercial business	257,896		257,896		22,713		1,293,442		1,293,442		161,786
Consumer:
Home equity	28,118		28,118		28,118		13,814		13,814		13,814
Automobile and other	9,735		9,735		2,572		—		—		—
	37,853		37,853		30,690		13,814		13,814		13,814
Subtotal	5,187,080		5,187,080		832,400		14,645,279		13,715,174		3,095,145
Total	$	13,704,958	$	11,216,123	$	832,400	$	20,922,009	$	19,588,985	$	3,095,145

	For the year ended December 31, 2012						For the year ended December 31, 2011
	Average Recorded Investment		Interest Income Recognized		Cash Basis Interest Recognized		Average Recorded Investment		Interest Income Recognized		Cash Basis Interest Recognized
With no related allowance recorded:
Real estate loans:
One-to-four family	$	825,566	$	8,634	$	—	$	1,556,530	$	33,329	$	5,193
Multi-family	180,524		—		—		2,190,031		88,194		3,995
Commercial	2,045,209		—		—		3,226,800		179,230		2,012
Construction and land	2,171,336		10,322		—		3,837,418		3,876		—
	5,222,635		18,956		—		10,810,779		304,629		11,200
Commercial business	142,047		925		—		460,871		13,465		—
Consumer:
Home equity	241,267		—		—		583,781		21,051		—
Automobile and other	688		—		—		—		—		—
	241,955		—		—		583,781		21,051		—
Subtotal	$	5,606,637	$	19,881	$	—	$	11,855,431	$	339,145	$	11,200
With an allowance recorded:
Real estate loans:
One-to-four family	$	986,926	$	604	$	—	$	1,114,300	$	3,144	$	—
Multi-family	3,201,616		27,971		—		1,790,613		19,853		—
Commercial	1,404,895		8,000		—		619,241		38,585		4,827
Construction and land	2,345,953		3,746		—		3,003,567		—		—
	7,939,390		40,321		—		6,527,721		61,582		4,827
Commercial business	593,375		1,132		—		642,990		24,732		—
Consumer:
Home equity	57,724		—		—		23,851		—		—
Automobile and other	3,032		—		—		2,368		—		—
	60,756		—		—		26,219		—		—
Subtotal	8,593,521		41,453		—		7,196,930		86,314		4,827
Total	$	14,200,158	$	61,334	$	—	$	19,052,361	$	425,459	$	16,027

Schedule of loans by class that were modified as troubled debt restructurings

Year ended December 31, 2012

	Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Real estate loans:
One-to-four family	4	$	447,799	$	444,508
Multi-family	1	449,055		215,963
Commercial	3	2,978,384		2,702,490
Construction and land	2	1,609,566		1,094,688
Total	10	$	5,484,804	$	4,457,649

Year ended December 31, 2011

	Number of Contracts	Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment
Real estate loans:
One-to-four family	2	$	1,025,174	$	1,025,174
Multi-family	2	5,894,771		5,894,771
Commercial	1	657,933		657,933
Construction and land	2	3,413,137		2,232,002
	7	10,991,015		9,809,880
Commercial Business	1	55,998		55,998
Consumer:
Home equity	2	338,737		338,737
Total	10	$	11,385,750	$	10,204,615

Schedule of troubled debt restructurings for which there was a payment default within twelve months following the modification

Year ended December 31, 2012

	Number of Contracts	Recorded Investment (as of period end)
Real estate loans:
One-to-four family	1	$	303,503
Total	1	$	303,503