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Leases	12 Months Ended
Dec. 31, 2011
Leases	Note 6 – Leases On November 1, 2007, the Company entered into a lease for a banking facility in Myrtle Beach, South Carolina from an entity controlled by a director. The term of the initial lease was for three years with four one-year renewal options. Rent increases three percent each renewal period. The lease was amended on February 12, 2008, making adjustments for the rent leading up to the opening of the branch and thereafter. The second extension option was exercised for the period of November 2011 through October 2012. Rental expense for the years ended December 31, 2011 and 2010 was $166,297 and $161,453, respectively. Future minimum lease payments under the lease, excluding any renewal options, are $142,028 in 2012.

Leases

12 Months Ended

Dec. 31, 2011

Note 6 – Leases

On November 1, 2007, the Company entered into a lease for a banking facility in Myrtle Beach, South Carolina from an entity controlled by a director. The term of the initial lease was for three years with four one-year renewal options. Rent increases three percent each renewal period. The lease was amended on February 12, 2008, making adjustments for the rent leading up to the opening of the branch and thereafter. The second extension option was exercised for the period of November 2011 through October 2012.

Rental expense for the years ended December 31, 2011 and 2010 was $166,297 and $161,453, respectively.

Future minimum lease payments under the lease, excluding any renewal options, are $142,028 in 2012.

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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