LOAN PORTFOLIO COMPOSITION (Tables)

6 Months Ended

Jun. 30, 2013

Receivables [Abstract]

Schedule of composition of loan portfolio

	June 30, 2013						December 31, 2012
	Amount			Percent			Amount			Percent
Real estate loans:
One-to-four family residential	$	41,156,553			24.4	%	$	41,386,147			23.8	%
Commercial		33,004,015			19.5			30,973,177			17.8
Agricultural		37,077,179			22.0			37,392,116			21.5
Home equity		11,652,179			6.9			12,733,963			7.3
Total real estate loans		122,889,926			72.8			122,485,403			70.5
Commercial loans		24,400,611			14.4			29,046,437			16.7
Agricultural loans		10,676,640			6.3			10,982,491			6.3
Consumer loans		14,361,986			8.5			14,571,819			8.4
Total loans receivable		172,329,163			102.0			177,086,150			101.9
Less:
Net deferred loan fees		(21,207	)		(0.0	)		(6,373	)		(0.0	)
Allowance for loan losses		3,472,536			2.0			3,339,464			1.9
Total loans receivable, net	$	168,877,834			100.0	%	$	173,753,059			100.0	%

Schedule of allowance for loan losses and recorded investment in loans based on portfolio segment and impairment method

	June 30, 2013
			Commercial			Agricultural
	1-4 Family		Real Estate			Real Estate		Home Equity			Commercial		Agricultural		Consumer			Unallocated		Total
Allowance for Loan Losses:
Beginning Balance,
April 1, 2013	$	779,243	$	837,443		$	183,780	$	227,620		$	959,663	$	44,570	$	173,674		$	239,976	$	3,445,969
Provision charged to
expense		48,470		(67,621	)		1,606		(11,574	)		11,911		8,813		(6,715	)		15,110		-
Losses charged off		-		-			-		-			-		-		(6,427	)		-		(6,427	)
Recoveries		840		23,687			-		525			7,341		-		601			-		32,994
Ending balance,
June 30, 2013	$	828,553	$	793,509		$	185,386	$	216,571		$	978,915	$	53,383	$	161,133		$	255,086	$	3,472,536
Beginning Balance,
January 1, 2013	$	741,029	$	828,873		$	149,568	$	328,996		$	934,251	$	43,930	$	151,474		$	161,343	$	3,339,464
Provision charged to
expense		72,053		(146,933	)		35,818		(125,975	)		37,323		9,453		54,518			93,743		30,000
Losses charged off		-		-			-		-			-		-		(52,186	)		-		(52,186	)
Recoveries		15,471		111,569			-		13,550			7,341		-		7,327			-		155,258
Ending balance,
June 30, 2013	$	828,553	$	793,509		$	185,386	$	216,571		$	978,915	$	53,383	$	161,133		$	255,086	$	3,472,536
Ending balance:
individually evaluated
for impairment	$	-	$	231,740		$	-	$	-		$	648,701	$	-	$	-		$	-	$	880,441
Ending balance:
collectively evaluated
for impairment	$	828,553	$	561,769		$	185,386	$	216,571		$	330,214	$	53,383	$	161,133		$	255,086	$	2,592,095
Loans:
Ending balance	$	41,156,553	$	33,004,015		$	37,077,179	$	11,652,179		$	24,400,611	$	10,676,640	$	14,361,986		$	-	$	172,329,163
Ending balance:
individually evaluated
for impairment	$	420,195	$	1,366,682		$	-	$	64,765		$	690,046	$	-	$	6,505		$	-	$	2,548,193
Ending balance:
collectively evaluated
for impairment	$	40,736,358	$	31,637,333		$	37,077,179	$	11,587,414		$	23,710,565	$	10,676,640	$	14,355,481		$	-	$	169,780,970

	June 30, 2012
				Commercial			Agricultural
	1-4 Family			Real Estate			Real Estate			Home Equity			Commercial		Agricultural			Consumer			Unallocated			Total
Allowance for Loan Losses:
Beginning Balance,
April 1, 2012	$	667,641		$	1,098,838		$	123,105		$	349,467		$	708,016	$	62,562		$	128,927		$	192,355		$	3,330,911
Provision charged to
expense		11,488			119,900			(74,187	)		(9,516	)		103,614		(26,528	)		80,192			(34,963	)		170,000
Losses charged off		(70,295	)		(257,043	)		-			(20,000	)		-		-			(50,421	)		-			(397,759	)
Recoveries		20,618			-			-			5,980			-		-			753			-			27,351
Ending balance,
June 30, 2012	$	629,452		$	961,695		$	48,918		$	325,931		$	811,630	$	36,034		$	159,451		$	157,392		$	3,130,503
Beginning Balance,
January 1, 2012	$	697,223		$	1,107,585		$	115,154		$	309,409		$	711,864	$	58,428		$	138,385		$	158,559		$	3,296,607
Provision charged to
expense		(19,719	)		111,153			(66,236	)		76,761			99,450		(22,394	)		72,152			(1,167	)		250,000
Losses charged off		(70,295	)		(257,043	)		-			(66,744	)		-		-			(53,385	)		-			(447,467	)
Recoveries		22,243			-			-			6,505			316		-			2,299			-			31,363
Ending balance,
June 30, 2012	$	629,452		$	961,695		$	48,918		$	325,931		$	811,630	$	36,034		$	159,451		$	157,392		$	3,130,503
Ending balance:
individually evaluated
for impairment	$	-		$	137,608		$	-		$	-		$	515,688	$	-		$	7,359		$	-		$	660,655
Ending balance:
collectively evaluated
for impairment	$	629,452		$	824,087		$	48,918		$	325,931		$	295,942	$	36,034		$	152,092		$	157,392		$	2,469,848
Loans:
Ending balance	$	41,293,201		$	37,868,011		$	32,612,241		$	14,226,553		$	23,953,566	$	10,263,526		$	14,939,089		$	-		$	175,156,187
Ending balance:
individually evaluated
for impairment	$	286,800		$	1,389,183		$	-		$	58,090		$	752,809	$	-		$	7,359		$	-		$	2,494,241
Ending balance:
collectively evaluated
for impairment	$	41,006,401		$	36,478,828		$	32,612,241		$	14,168,463		$	23,200,757	$	10,263,526		$	14,931,730		$	-		$	172,661,946

	December 31, 2012
				Commercial			Agricultural
	1-4 Family			Real Estate			Real Estate		Home Equity			Commercial		Agricultural			Consumer			Unallocated		Total
Allowance for Loan Losses:
Beginning Balance,
December 31, 2011	$	697,223		$	1,107,585		$	115,154	$	309,409		$	711,864	$	58,428		$	138,385		$	158,559	$	3,296,607
Provision charged to
expense		99,055			(11,157	)		34,414		86,076			219,102		(14,498	)		74,224			2,784		490,000
Losses charged off		(82,192	)		(356,270	)		-		(80,126	)		-		-			(66,958	)		-		(585,546	)
Recoveries		26,943			88,715			-		13,637			3,285		-			5,823			-		138,403
Ending balance,
December 31, 2012	$	741,029		$	828,873		$	149,568	$	328,996		$	934,251	$	43,930		$	151,474		$	161,343	$	3,339,464
Ending balance:
individually evaluated
for impairment	$	-		$	262,177		$	-	$	-		$	610,779	$	-		$	6,185		$	-	$	879,141
Ending balance:
collectively evaluated
for impairment	$	741,029		$	566,696		$	149,568	$	328,996		$	323,472	$	43,930		$	145,289		$	161,326	$	2,460,306
Loans:
Ending balance	$	41,386,147		$	30,973,177		$	37,392,116	$	12,733,963		$	29,046,437	$	10,982,491		$	14,571,819		$	-	$	177,086,150
Ending balance:
individually evaluated
for impairment	$	339,513		$	1,603,956		$	-	$	56,677		$	728,672	$	-		$	14,392		$	-	$	2,743,210
Ending balance:
collectively evaluated
for impairment	$	41,046,634		$	29,369,221		$	37,392,116	$	12,677,286		$	28,317,765	$	10,982,491		$	14,557,427		$	-	$	174,342,940

Schedule of credit risk profile of loan portfolio based on rating category and payment activity

	1-4 Family				Commercial Real Estate				Agricultural Real Estate				Home Equity
	June 30,		December 31,		June 30,		December 31,		June 30,		December 31,		June 30,		December 31,
	2013		2012		2013		2012		2013		2012		2013		2012
Rating:
Pass	$	37,889,742	$	38,123,451	$	30,644,616	$	28,283,081	$	37,077,179	$	37,392,116	$	10,972,110	$	11,919,440
Special Mention		910,740		1,273,558		146,921		187,936		-		-		242,777		272,563
Substandard		2,356,071		1,989,138		2,212,478		2,502,160		-		-		437,292		541,960
Total	$	41,156,553	$	41,386,147	$	33,004,015	$	30,973,177	$	37,077,179	$	37,392,116	$	11,652,179	$	12,733,963
	Commercial				Agricultural				Consumer				Total
	June 30,		December 31,		June 30,		December 31,		June 30,		December 31,		June 30,		December 31,
	2013		2012		2013		2012		2013		2012		2013		2012
Rating:
Pass	$	23,696,812	$	28,301,663	$	10,676,640	$	10,982,491	$	14,184,401	$	14,291,487	$	165,141,500	$	169,293,729
Special Mention		-		849		-		-		96,419		111,945		1,396,857		1,846,851
Substandard		703,799		743,925		-		-		81,166		168,387		5,790,806		5,945,570
Total	$	24,400,611	$	29,046,437	$	10,676,640	$	10,982,491	$	14,361,986	$	14,571,819	$	172,329,163	$	177,086,150

Schedule of loan portfolio aging analysis

	June 30, 2013
	30-59 Days		60-89 Days		Greater than 90		Total						Total Loans >90
	Past Due		Past Due		Days Past Due		Past Due		Current		Total Loans		Days & Accruing
One-to-four family residential	$	389,717	$	86,357	$	783,457	$	1,259,531	$	39,897,022	$	41,156,553	$	75,011
Commercial real estate		17,242		-		259,791		277,033		32,726,982		33,004,015		-
Agricultural real estate		-		-		-		-		37,077,179		37,077,179		-
Home equity		143,748		62,047		103,900		309,695		11,342,484		11,652,179		-
Commercial		-		-		-		-		24,400,611		24,400,611		-
Agricultural		-		-		-		-		10,676,640		10,676,640		-
Consumer		127,237		21,274		28,845		177,356		14,184,630		14,361,986		-
Total	$	677,944	$	169,678	$	1,175,993	$	2,023,615	$	170,305,548	$	172,329,163	$	75,011

	December 31, 2012
	30-59 Days		60-89 Days		Greater than 90		Total						Total Loans >90
	Past Due		Past Due		Days Past Due		Past Due		Current		Total Loans		Days & Accruing
One-to-four family residential	$	727,315	$	213,126	$	984,996	$	1,925,437	$	39,460,710	$	41,386,147	$	-
Commercial real estate		-		-		279,622		279,622		30,693,555		30,973,177		-
Agricultural real estate		-		-		-		-		37,392,116		37,392,116		-
Home equity		158,414		70,596		136,508		365,518		12,368,445		12,733,963		-
Commercial		-		-		-		-		29,046,437		29,046,437		-
Agricultural		-		-		-		-		10,982,491		10,982,491		-
Consumer		181,171		64,390		33,692		279,253		14,292,566		14,571,819		-
Total	$	1,066,900	$	348,112	$	1,434,818	$	2,849,830	$	174,236,320	$	177,086,150	$	-

Schedule of impaired loan

	Three Months Ended June 30, 2013
							Average				Interest
			Unpaid				Impairment in		Interest		Income
	Recorded		Principal		Specific		Impaired		Income		Recognized
	Balance		Balance		Allowance		Loans		Recognized		Cash Basis
Loans without a specific allowance:
One-to-four family residential	$	420,195	$	420,195	$	-	$	421,929	$	3,260	$	1,552
Commercial real estate		166,587		166,587		-		221,892		6,798		6,759
Home equity		64,756		64,756		-		53,741		962		954
Consumer		6,605		6,605		-		6,907		122		130
Loans with a specific allowance:
Commercial real estate		1,200,095		1,200,095		231,740		1,206,167		15,872		16,536
Commercial		690,046		690,046		648,701		731,642		7,724		7,809
Total:
One-to-four family residential		420,195		420,195		-		421,929		3,260		1,552
Commercial real estate		1,366,682		1,366,682		231,740		1,428,059		22,670		23,295
Commercial		690,046		690,046		648,701		731,642		7,724		7,809
Home equity		64,765		64,765		-		53,741		962		954
Consumer		6,505		6,505		-		6,907		122		130
Total	$	2,548,193	$	2,548,193	$	880,441	$	2,642,278	$	34,738	$	33,740

	Six Months Ended June 30, 2013
							Average				Interest
			Unpaid				Impairment in		Interest		Income
	Recorded		Principal		Specific		Impaired		Income		Recognized
	Balance		Balance		Allowance		Loans		Recognized		Cash Basis
Loans without a specific allowance:
One-to-four family residential	$	420,195	$	420,195	$	-	$	423,155	$	7,502	$	5,729
Commercial real estate		166,587		166,587		-		216,917		6,798		6,759
Home equity		64,765		64,765		-		48,879		1,825		1,815
Consumer		6,505		6,505		-		7,385		259		239
Loans with a specific allowance:
Commercial real estate		1,200,095		1,200,095		231,740		1,222,921		38,506		39,059
Commercial		690,046		690,046		648,701		739,709		17,440		17,839
Total:
One-to-four family residential		420,195		420,195		-		423,155		7,502		5,729
Commercial real estate		1,366,682		1,366,682		231,740		1,439,838		45,304		45,818
Commercial		690,046		690,046		648,701		739,709		17,440		17,839
Home equity		64,765		64,765		-		48,879		1,825		1,815
Consumer		6,505		6,505		-		7,385		259		239
Total	$	2,548,193	$	2,548,193	$	880,441	$	2,658,966	$	72,330	$	71,440

	Year Ended December 31, 2012
							Average				Interest
			Unpaid				Impairment in		Interest		Income
	Recorded		Principal		Specific		Impaired		Income		Recognized
	Balance		Balance		Allowance		Loans		Recognized		Cash Basis
Loans without a specific allowance:
One-to-four family residential	$	339,513	$	339,513	$	-	$	343,593	$	17,163	$	16,909
Commercial real estate		201,135		201,135		-		205,756		27,727		16,136
Home equity		56,677		56,677		-		57,934		4,087		4,162
Consumer		8,207		8,207		-		9,795		495		422
Loans with a specific allowance:
Commercial real estate		1,402,821		1,402,821		262,177		1,443,005		91,130		91,075
Commercial		728,672		728,672		610,779		780,979		44,887		52,898
Consumer		6,185		6,185		6,185		7,096		573		576
Total:
One-to-four family residential		339,513		339,513		-		343,593		17,163		16,909
Commercial real estate		1,603,956		1,603,956		262,177		1,648,761		118,857		107,211
Commercial		728,672		728,672		610,779		780,979		44,887		52,898
Home equity		56,677		56,677		-		57,934		4,087		4,162
Consumer		14,392		14,392		6,185		16,891		1,068		998
Total	$	2,743,210	$	2,743,210	$	879,141	$	2,848,158	$	186,062	$	182,178

Schedule of recorded balance at original cost of troubled debt restructurings

	June 30, 2013		December 31, 2012
One-to-four family residential	$	616,734	$	267,916
Commercial real estate		1,086,089		1,011,350
Agricultural real estate		-		-
Home equity		81,824		84,123
Commercial loans		662,382		701,271
Agricultural loans		-		-
Consumer loans		33,146		91,206
Total	$	2,480,175	$	2,155,866

Schedule of recorded balance at original cost of troubled debt restructurings which were performing according to terms of restructuring

	June 30, 2013		December 31, 2012
One-to-four family residential	$	505,942	$	127,399
Commercial real estate		1,086,089		983,450
Agricultural real estate		-		-
Home equity		76,683		84,123
Commercial loans		662,382		701,271
Agricultural loans		-		-
Consumer loans		33,146		89,045
Total	$	2,364,242	$	1,985,288

Schedule of loans modified as troubled debt restructurings

	Three Months Ended				Six Months Ended
	June 30, 2013				June 30, 2013
	Number of		Recorded		Number of		Recorded
	Modifications		Investment		Modifications		Investment
One-to-four family residential		3	$	234,015		6	$	383,982
Commercial real estate		-		-		2		114,567
Agricultural real estate		-		-		-		-
Home equity		-		-		-		-
Commercial loans		-		-		-		-
Agricultural loans		-		-		-		-
Consumer loans		-		-		2		14,151
Total		3	$	234,015		10	$	512,700

	Three Months Ended				Six Months Ended
	June 30, 2012				June 30, 2012
	Number of		Recorded		Number of		Recorded
	Modifications		Investment		Modifications		Investment
One-to-four family residential		-	$	-		1	$	44,267
Commercial real estate		-		-		-		-
Agricultural real estate		-		-		-		-
Home equity		-		-		1		6,041
Commercial loans		2		269,909		2		269,909
Agricultural loans		-		-		-		-
Consumer loans		2		18,818		2		18,818
Total		4	$	288,727		6	$	339,035

Schedule of nonaccrual loans

	June 30, 2013		December 31, 2012
One-to-four family residential	$	1,326,814	$	1,203,328
Commercial real estate		386,637		560,073
Agricultural real estate		-		-
Home equity		226,870		276,877
Commercial loans		44,253		51,436
Agricultural loans		-		-
Consumer loans		41,580		122,064
Total	$	2,026,154	$	2,213,778