LOANS RECEIVABLE (Tables)

12 Months Ended

Dec. 31, 2012

	December 31,
	*2012*			*2011*

FIRST MORTGAGE LOANS:
Secured by single-family residences	$	67,113,044		$	79,719,713
Secured by 5 or more- residential	2,211,044			3,068,229
Secured by other properties	30,111,544			35,357,446
Construction loans	4,495,641			3,984,630
Land and land development loans	6,085,545			7,450,684
Land acquisition loans	290,249			492,120

	110,307,067			130,072,822
SECOND MORTGAGE LOANS	1,678,060			1,977,851

COMMERCIAL AND OTHER LOANS:
Commercial -secured by real estate	65,498,712			76,607,916
Commercial	1,838,454			2,735,036
Loans secured by savings accounts	166,699			149,992
Consumer installment loans	250,487			354,317

	179,739,479			211,897,934

LESS:
Allowance for loan losses	(3,151,476		)	(6,124,116		)
Deferred loan fees	(387,189		)	(420,230		)

TOTAL LOANS RECEIVABLE HELD-FOR-INVESTMENT	$	176,200,814		$	205,353,588

Summary of allowance for loan and recorded investment in loans

For the year ended December 31, 2012	Residential Real Estate			Construction			Land and Land Acquisition			Commercial Real Estate and Commercial			Consumer		Total
	(dollars in thousands)
Allowance for loan losses:
Beginning balance	$	2,259		$	9		$	404		$	3,449		$	3	$	6,124
Charge-offs	(1,292		)	(405		)	(464		)	(916		)	—		(3,077		)
Recoveries	17			—			14			73			—		104
Provisions	713			485			209			(1,409		)	2		—
Ending Balance	1,697			89			163			1,197			5		3,151
Ending Balance: individually evaluated for impairment	573			0			74			566			0		1,213
Ending Balance: collectively evaluated for impairment	1,124			89			89			631			5		1,938

Loans:
Ending Balance	$	101,113		$	4,496		$	6,376		$	67,337		$	417	$	179,739
Ending Balance: individually evaluated for impairment	15,700			—			4,844			13,189			5		33,738
Ending Balance: collectively evaluated for impairment	85,413			4,496			1,532			54,148			412		146,001

For the year ended December 31, 2011	Residential Real Estate			Construction			Land and Land Acquisition			Commercial Real Estate and Commercial			Consumer			Total
	(dollars in thousands)
Allowance for loan losses:
Beginning balance	$	2,891		$	326		$	2,932		$	4,067		$	4		$	10,220
Charge-offs	(1,334		)	—			(2,570		)	(434		)	(4		)	(4,342		)
Recoveries	21			10			4			10			1			46
Provisions	681			(327		)	38			(194		)	2			200
Ending Balance	2,259			9			404			3,449			3			6,124
Ending Balance: individually evaluated for impairment	1,057			0			283			1,595			0			2,935
Ending Balance: collectively evaluated for impairment	1,202			9			121			1,854			3			3,189

Loans:
Ending Balance	$	120,123		$	3,985		$	7,943		$	79,343		$	504		$	211,898
Ending Balance: individually evaluated for impairment	13,588			—			3,486			14,256			—			31,330
Ending Balance: collectively evaluated for impairment	106,535			3,985			4,457			65,087			504			180,568

Schedule of credit risk profile by internally assigned grade

For the year ended December 31, 2012	Residential Real Estate		Construction		Land and Land Acquisition		Commercial Real Estate and Commercial		Consumer		Total
	(dollars in thousands)
Pass	$	90,846	$	4,496	$	1,916	$	53,279	$	412	$	150,949
Special Mention	1,111		—		25		477		—		1,613
Substandard	9,082		—		4,390		13,581		5		27,058
Doubtful/Loss	74		—		45		—		—		119
Total	$	101,113	$	4,496	$	6,376	$	67,337	$	417	$	179,739

For the year ended December 31, 2011	Residential Real Estate		Construction		Land and Land Acquisition		Commercial Real Estate and Commercial		Consumer		Total
	(dollars in thousands)
Pass	$	101,738	$	3,985	$	3,726	$	50,130	$	504	$	160,083
Special Mention	4,501		—		58		12,251		—		16,810
Substandard	13,724		—		3,889		16,875		—		34,488
Doubtful/Loss	160		—		270		87		—		517
Total	$	120,123	$	3,985	$	7,943	$	79,343	$	504	$	211,898

Schedule of information on impaired loans

For the year ended December 31, 2012	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
	(dollars in thousands)
With no related allowance recorded:
Residential Real Estate	$	5,166	$	5,166	$	—	$	6,839	$	298
Construction	—		—		—		—		—
Land and Land Acquisition	2,157		2,157		—		3,626		63
Commercial Real Estate and Commercial	2,159		2,159		—		2,401		27
Consumer	5		5		—		7		1
With an allowance recorded:
Residential Real Estate	$	9,968	$	10,534	$	573	$	10,102	$	472
Construction	—		—		—		—		—
Land and Land Acquisition	2,613		2,687		74		2,670		66
Commercial Real Estate and Commercial	10,457		11,030		566		10,501		533
Consumer	—		—		—		—		—
Total
Residential Real Estate	$	15,134	$	15,700	$	573	$	16,941	$	770
Construction	—		—		—		—		—
Land and Land Acquisition	4,770		4,844		74		6,296		129
Commercial Real Estate and Commercial	12,616		13,189		566		12,902		560
Consumer	5		5		—		7		1

For the year ended December 31, 2011	Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized
	(dollars in thousands)
With no related allowance recorded:
Residential Real Estate	$	1,569	$	2,467	$	—	$	2,484	$	82
Construction	—		—		—		—		—
Land and Land Acquisition	1,273		2,300		—		2,309		58
Commercial Real Estate and Commercial	101		101		—		162		19
Consumer	—		—		—		—		—
With an allowance recorded:
Residential Real Estate	$	10,962	$	12,019	$	1,057	$	11,057	$	542
Construction	—		—		—		—		—
Land and Land Acquisition	1,930		2,213		283		1,938		77
Commercial Real Estate and Commercial	12,560		14,155		1,595		14,781		501
Consumer	—		—		—		—		—
Total
Residential Real Estate	$	12,531	$	14,486	$	1,057	$	13,541	$	624
Construction	—		—		—		—		—
Land and Land Acquisition	3,203		4,513		283		4,247		135
Commercial Real Estate and Commercial	12,661		14,256		1,595		14,943		520
Consumer	—		—		—		—		—

Schedule of age analysis of past due loans

For the year ended December 31, 2012	2 payments Past Due	3 payments Past Due	Non-Accrual Loans	Total Past Due	Current	Total
	(dollars in thousands)
Residential Real Estate	1,842	1,329	5,088	8,259	92,855	101,114
Construction	—	—	—	—	4,496	4,496
Land and Land Acquisition	—	25	6,349	6,374	1	6,375
Commercial Real Estate and Commercial	3,043	988	8,290	12,321	55,016	67,337
Consumer	—	—	5	5	412	417
Total	4,885	2,342	19,732	26,959	152,780	179,739

For the year ended December 31, 2011	2 payments Past Due	3 payments Past Due	Non-Accrual Loans	Total Past Due	Current	Total
	(dollars in thousands)
Residential Real Estate	3,578	2,043	4,436	10,057	110,066	120,123
Construction	—	—	—	—	3,985	3,985
Land and Land Acquisition	2,197	58	1,823	4,078	3,865	7,943
Commercial Real Estate and Commercial	1,617	—	6,580	8,197	71,146	79,343
Consumer	—	—	—	—	504	504
Total	7,392	2,101	12,839	22,332	189,566	211,898

Schedule of accrual status of TDR's

December 31, 2012 (in thousands)	TDRs on Non- Accural Status		TDRs on Accrual Status		Total TDRs

Residential Real Estate	$	775	$	9,907	$	10,682
Land and Lot Loans	943		762		1,705
Commercial Real Estate	6,977		3,337		10,314

Total TDRs	$	8,695	$	14,006	$	22,701

December 31, 2011 (in thousands)	TDRs on Non- Accural Status		TDRs on Accrual Status		Total TDRs

Residential Real Estate	$	267	$	7,349	$	7,616
Land and Lot Loans	931		1,689		2,620
Commercial Real Estate	687		9,453		10,140

Total TDRs	$	1,885	$	18,491	$	20,376

Schedule of loans modified as a TDR

	Loans Modified as a TDR for the Twelve Months Ended
	December 31, 2012			December 31, 2011
Troubled Debt Restructurings:	Number of	Recorded Investment		Number of	Recorded Investment
(dollars in thousands)	Contracts	(as of period end)		Contracts	(as of period end)

Residential Real Estate	14	$	2,202	12	$	5,140
Land and Lot Loans	1	$	64	4	$	906
Commerical Real Estate	1	99		9	1,867

Total TDRs	16	$	2,365	25	$	7,913

Schedule of TDR loan modifications outstanding and respective performance under the modified terms

	TDRs		TDRs Not
	Performing to		Performing to		Total
December 31, 2012 (in thousands)	Modified Terms		Modified Terms		TDRs

Residential Real Estate
Rate reduction	$	9,021	$	924	$	9,945
Extension or other modification	581		156		737
Total residential TDRs	$	9,602	$	1,080	$	10,682

Land and Lot Loans:
Rate reduction	$	762	$	912	$	1,674
Extension or other modification	—		31		31
Total Land and Lot Loans	$	762	$	943	$	1,705

Commercial:
Rate reduction	$	875	$	7,536	$	8,411
Extension or other modification	—		1,903		1,903
Total commercial TDRs	$	875	$	9,439	$	10,314
Total TDRs	$	11,239	$	11,462	$	22,701

	TDRs		TDRs Not		Total TDRs
	Performing to		Performing to
December 31, 2011 (in thousands)	Modified Terms		Modified Terms

Residential Real Estate
Rate reduction	$	6,509	$	527	$	7,036
Extension or other modification	579		—		579
Total residential TDRs	$	7,088	$	527	$	7,615

Land and Lot Loans:
Rate reduction	$	1,079	$	989	$	2,068
Extension or other modification	553		—		553
Total Land and Lot Loans	$	1,632	$	989	$	2,621

Commercial:
Rate reduction	$	8,050	$	2,090	$	10,140
Extension or other modification	—				—
Total commercial TDRs	$	8,050	$	2,090	$	10,140
Total TDRs	$	16,770	$	3,606	$	20,376

Schedule of loans modified in a TDR that defaulted during the period and within twelve months of their modification date

	Twelve Months ended
TDRs that Defaulted During the Period,	December 31, 2012			December 31, 2011
Within Twelve Months of Modification Date	Number of	Recorded Investment		Number of	Recorded Investment
(dollars in thousands)	Contracts	(as of period end)		Contracts	(as of period end)

Residential Real Estate	8	$	1,082	11	$	2,128
Lot Loans	3	322		13	1,660
Commercial Real Estate	2	869		5	7,682

Total TDRs	13	$	2,273	29	$	11,470

Summarizing changes in amounts of loans outstanding to executive officers and directors

	Years ended
	December 31,
	2012			2011

Balance at beginning of year	$	5,054,698		$	4,928,053
Additions	145,798			1,622,208
Repayments	(1,299,341		)	(1,495,563		)

Balance at end of year	$	3,901,155		$	5,054,698

2012

2011