FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2012

FAIR VALUE MEASUREMENTS

Schedule of assets measured at fair value on a recurring basis segregated by fair value hierarchy level

	Fair Value Measurements at December 31, 2012 Using:
	Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
Assets:	(Level 1)		(Level 2)		(Level 3)		Total
Securities:
U.S. government agency obligations	$	—	$	19,793,502	$	—	$	19,793,502
State and municipal securities	—		36,403,923		—		36,403,923
Other securities	—		248,501		—		248,501
Mortgage-backed: residential	—		31,834,154		—		31,834,154
Total securities available for sale	$	—	$	88,280,080	$	—	$	88,280,080

	Fair Value Measurements at December 31, 2011 Using:
	Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable  Inputs
Assets:	(Level 1)		(Level 2)		(Level 3)		Total
Securities:
U.S. government agency obligations	$	—	$	31,743,989	$	—	$	31,743,989
Corporate bonds	—		1,838,324		—		1,838,324
State and municipal securities	—		26,376,118		—		26,376,118
Other securities	—		3,501		—		3,501
Mortgage-backed: residential	—		25,613,419		—		25,613,419
Total securities available for sale	$	—	$	85,575,351	$	—	$	85,575,351

Schedule of assets measured at fair value on a nonrecurring basis by fair value hierarchy level

	Fair Value Measurements at December 31, 2012 Using:
	Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant  Unobservable Inputs
Assets:	(Level 1)		(Level 2)		(Level 3)		Total
Foreclosed assets:
Real estate:
Commercial	$	—	$	—	$	755,000	$	755,000
Construction and land	—		—		2,926,988		2,926,988
Total foreclosed assets	$	—	$	—	$	3,681,988	$	3,681,988
Impaired loans:
Real estate loans:
One-to-four family	$	—	$	—	$	1,355,785	$	1,355,785
Multi-family	—		—		2,255,959		2,255,959
Commercial	—		—		500,590		500,590
	—		—		4,112,334		4,112,334
Commercial business	—		—		235,183		235,183
Consumer:
Automobile and other	—		—		7,163		7,163
	—		—		7,163		7,163
Total impaired loans	$	—	$	—	$	4,354,680	$	4,354,680

	Fair Value Measurements at December 31, 2011 Using:
	Quoted Prices in Active Markets for Identical Assets		Significant Other  Observable Inputs		Significant Unobservable Inputs
Assets:	(Level 1)		(Level 2)		(Level 3)		Total
Foreclosed assets:
Real estate:
One-to-four family	$	—	$	—	$	224,060	$	224,060
Commercial	—		—		755,000		755,000
Construction and land	—		—		407,193		407,193
Total foreclosed assets	$	—	$	—	$	1,386,253	$	1,386,253
Impaired loans:
Real estate loans:
One-to-four family	$	—	$	—	$	1,347,958	$	1,347,958
Multi-family	—		—		3,048,473		3,048,473
Commercial	—		—		1,303,707		1,303,707
Construction and land	—		—		3,788,235		3,788,235
	$	—	$	—	$	9,488,373	$	9,488,373
Commercial business	$	—	$	—	$	1,131,656	$	1,131,656
Total impaired loans	$	—	$	—	$	10,620,029	$	10,620,029

Schedule of quantitative information about Level 3 fair value measurements for financial instruments measured at fair value on a non-recurring basis

	Fair Value		Valuation Techniques	Unobservable Inputs	Range	Weighted Average
Foreclosed assets:
Real estate:
Commercial	$	755,000	Sales Comparison	Adjustment for difference between comparable sales	1% to 24%	10.5	%
Construction and land	2,926,988		Sales Comparison	Adjustment for difference between comparable sales	-4% to 47%	19.3	%
Impaired loans:
Real estate loans:
One-to-four family	$	1,355,785	Sales Comparison	Adjustment for difference between comparable sales	-5% to 9%	5.7	%
Multi-family	2,255,959		Sales Comparison	Adjustment for difference between comparable sales	1% to 18%	10.0	%
Commercial	500,590		Sales Comparison	Adjustment for difference between comparable sales	5% to 17%	12.3	%
Commercial business	235,183		Sales Comparison	Adjustment for difference between comparable sales	4% to 50%	22.8	%
Automobile and other	7,163		Liquidation Value	Adjustment to reflect realizable value	0% to 50%	50.0	%