DEPOSITS (Tables)

12 Months Ended

Dec. 31, 2012

DEPOSITS

Schedule of deposits

	Years Ended
	December 31, 2012				December 31, 2011
	Amount		Weighted Average Interest Rate		Amount		Weighted Average Interest Rate
Non-interest-bearing:
Checking accounts	$	6,668,011	—	%	$	5,256,111	—	%
Interest-bearing:
NOW accounts	24,646,375		0.12		24,289,201		0.43
Savings deposits	109,495,196		0.26		112,009,484		1.08
Time Deposits	90,622,432		1.46		103,495,792		1.95
	224,764,003				239,794,477
	$	231,432,014	0.70	%	$	245,050,588	1.34	%

Schedule showing maturities of time deposits

			Average
	Amount		Interest Rate
Under 6 months	$	14,505,024	1.18	%
6 to 12 months	19,859,046		0.82
12 to 24 months	17,065,916		2.34
24 to 36 months	17,464,530		1.84
36 to 48 months	12,999,121		1.18
48 to 60 months	8,728,795		1.29
	$	90,622,432	1.46	%

Summary of interest expense on deposits

	Years ending December 31,
	2012		2011
NOW Accounts	$	818,413	$	1,087,483
Savings Deposits	122,817		143,012
Time Deposits	1,693,750		2,671,803
	$	2,634,980	$	3,902,298