Commitments and contingencies (Tables)

12 Months Ended

Dec. 31, 2013

Commitments and contingencies [Abstract]

Summary of outstanding off-balance sheet financial instruments

At December 31, 2013 and 2012, the Company had outstanding the following approximate off-balance-sheet financial instruments whose contract amounts represent credit risk:

	Contract		Contract
	Amount		Amount
	2013		2012

Undisbursed credit lines	$	37,474,000	$	35,780,000
Commitments to extend or originate credit		10,581,000		25,016,000
Standby letter of credit		2,192,000		3,314,000

Total commitments to extend credit	$	50,247,000	$	64,110,000

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined) which are not recognized in the financial statements (off-balance sheet) because they fail to meet some other criterion for recognition.

+ References

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Reference 4: http://www.xbrl.org/2003/role/presentationRef

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Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details