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LOAN PORTFOLIO COMPOSITION (Tables)

9 Months Ended

Sep. 30, 2013

Schedule of composition of loan portfolio

	September 30, 2013					December 31, 2012
	Amount		Percent			Amount			Percent
Real estate loans:
One-to-four family residential	$	41,973,440		24.1	%	$	41,386,147			23.8	%
Commercial		34,049,170		19.5			30,973,177			17.8
Agricultural		37,303,424		21.4			37,392,116			21.5
Home equity		12,039,266		6.9			12,733,963			7.3
Total real estate loans		125,365,300		71.9			122,485,403			70.5

Commercial loans		25,615,485		14.7			29,046,437			16.7
Agricultural loans		12,220,491		7.0			10,982,491			6.3
Consumer loans		14,403,573		8.3			14,571,819			8.4
Total loans receivable		177,604,849		101.9			177,086,150			101.9

Less:
Net deferred loan fees		7,859		0.0			(6,373	)		(0.0	)
Allowance for loan losses		3,264,496		1.9			3,339,464			1.9
Total loans receivable, net	$	174,332,494		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

	September 30, 2013
				Commercial			Agricultural
	1-4 Family			Real Estate			Real Estate			Home Equity			Commercial			Agricultural		Consumer			Unallocated			Total
Allowance for Loan Losses:
Beginning Balance,
July 1, 2013	$	828,553		$	793,509		$	185,386		$	216,571		$	978,915		$	53,383	$	161,133		$	255,086		$	3,472,536
Provision charged to
expense		135,415			(76,925	)		(383	)		36,705			(30,441	)		7,719		21,756			(83,846	)		10,000
Losses charged off		(162,447	)		-			-			(48,383	)		-			-		(14,281	)		-			(225,111	)
Recoveries		300			-			-			960			-			-		5,811			-			7,071
Ending balance,
September 30, 2013	$	801,821		$	716,584		$	185,003		$	205,853		$	948,474		$	61,102	$	174,419		$	171,240		$	3,264,496

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		207,468			(223,858	)		35,435			(89,270	)		6,882			17,172		76,274			9,897			40,000
Losses charged off		(162,447	)		-			-			(48,383	)		-			-		(66,467	)		-			(277,297	)
Recoveries		15,771			111,569			-			14,510			7,341			-		13,138			-			162,329
Ending balance,
September 30, 2013	$	801,821		$	716,584		$	185,003		$	205,853		$	948,474		$	61,102	$	174,419		$	171,240		$	3,264,496

Ending balance:
individually evaluated
for impairment	$	-		$	225,005		$	-		$	-		$	604,231		$	-	$	-		$	-		$	829,236
Ending balance:
collectively evaluated
for impairment	$	801,821		$	491,579		$	185,003		$	205,853		$	344,243		$	61,102	$	174,419		$	171,240		$	2,435,260

Loans:
Ending balance	$	41,973,440		$	34,049,170		$	37,303,424		$	12,039,266		$	25,615,485		$	12,220,491	$	14,403,573		$	-		$	177,604,849
Ending balance:
individually evaluated
for impairment	$	512,974		$	1,261,003		$	302,816		$	56,700		$	675,626		$	-	$	5,527		$	-		$	2,814,646
Ending balance:
collectively evaluated
for impairment	$	41,460,466		$	32,788,167		$	37,000,608		$	11,982,566		$	24,939,859		$	12,220,491	$	14,398,046		$	-		$	174,790,203

	September 30, 2012
				Commercial			Agricultural
	1-4 Family			Real Estate			Real Estate		Home Equity			Commercial		Agricultural		Consumer			Unallocated		Total
Allowance for Loan Losses:
Beginning Balance,
July 1, 2012	$	629,452		$	961,695		$	48,918	$	325,931		$	811,630	$	36,034	$	159,451		$	157,392	$	3,130,503
Provision charged to
expense		(11,330	)		(74,191	)		89,538		(37,447	)		73,497		30,963		(11,365	)		60,335		120,000
Losses charged off		(6,410	)		(99,227	)		-		(13,382	)		-		-		(11,416	)		-		(130,435	)
Recoveries		2,810			17,716			-		6,607			2,969		-		1,572			-		31,674
Ending balance,
September 30, 2012	$	614,522		$	805,993		$	138,456	$	281,709		$	888,096	$	66,997	$	138,242		$	217,727	$	3,151,742

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		(31,049	)		36,962			23,302		39,314			172,947		8,569		60,787			59,168		370,000
Losses charged off		(76,705	)		(356,270	)		-		(80,126	)		-		-		(64,801	)		-		(577,902	)
Recoveries		25,053			17,716			-		13,112			3,285		-		3,871			-		63,037
Ending balance,
September 30, 2012	$	614,522		$	805,993		$	138,456	$	281,709		$	888,096	$	66,997	$	138,242		$	217,727	$	3,151,742

Ending balance:
individually evaluated
for impairment	$	-		$	139,523		$	-	$	-		$	567,536	$	-	$	6,616		$	-	$	713,675
Ending balance:
collectively evaluated
for impairment	$	614,522		$	666,470		$	138,456	$	281,709		$	320,560	$	66,997	$	131,626		$	217,727	$	2,438,067

Loans:
Ending balance	$	42,323,156		$	34,826,019		$	34,614,339	$	13,188,975		$	26,449,502	$	8,813,230	$	14,678,893		$	-	$	174,894,114
Ending balance:
individually evaluated
for impairment	$	285,550		$	1,288,367		$	-	$	43,698		$	741,497	$	-	$	6,616		$	-	$	2,365,728
Ending balance:
collectively evaluated
for impairment	$	42,037,606		$	33,537,652		$	34,614,339	$	13,145,277		$	25,708,005	$	8,813,230	$	14,672,277		$	-	$	172,528,386

	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
	September 30,		December 31,		September 30,		December 31,		September 30,		December 31,		September 30,		December 31,
	2013		2012		2013		2012		2013		2012		2013		2012
Rating:
Pass	$	38,882,817	$	38,123,451	$	31,874,059	$	28,283,081	$	37,000,608	$	37,392,116	$	11,483,313	$	11,919,440
Special Mention		860,310		1,273,558		122,294		187,936		-		-		172,684		272,563
Substandard		2,230,313		1,989,138		2,052,817		2,502,160		302,816		-		383,269		541,960
Total	$	41,973,440	$	41,386,147	$	34,049,170	$	30,973,177	$	37,303,424	$	37,392,116	$	12,039,266	$	12,733,963

	Commercial				Agricultural				Consumer				Total
	September 30,		December 31,		September 30,		December 31,		September 30,		December 31,		September 30,		December 31,
		2013		2012		2013		2012		2013		2012		2013		2012
Rating:
Pass	$	24,926,781	$	28,301,663	$	12,220,491	$	10,982,491	$	14,224,756	$	14,291,487	$	170,612,825	$	169,293,729
Special Mention		-		849		-		-		99,984		111,945		1,255,272		1,846,851
Substandard		688,704		743,925		-		-		78,833		168,387		5,736,752		5,945,570
Total	$	25,615,485	$	29,046,437	$	12,220,491	$	10,982,491	$	14,403,573	$	14,571,819	$	177,604,849	$	177,086,150

Schedule of loan portfolio aging analysis

	September 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	$	263,517	$	518,819	$	524,759	$	1,307,095	$	40,666,345	$	41,973,440	$	-
Commercial real estate		65,047		-		85,193		150,240		33,898,930		34,049,170		-
Agricultural real estate		-		-		-		-		37,303,424		37,303,424		-
Home equity		91,319		43,922		57,588		192,829		11,846,437		12,039,266		-
Commercial		-		-		-		-		25,615,485		25,615,485		-
Agricultural		-		-		-		-		12,220,491		12,220,491		-
Consumer		99,865		-		5,987		105,852		14,297,721		14,403,573		-
Total	$	519,748	$	562,741	$	673,527	$	1,756,016	$	175,848,833	$	177,604,849	$	-

	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 September 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	$	512,974	$	512,974	$	-	$	591,134	$	8,083		$	6,355
Commercial real estate		65,757		65,757		-		94,970		(2,710	)		(2,630	)
Agricultural real estate		302,816		302,816		-		303,071		11,938			12,227
Home equity		56,700		56,700		-		57,573		1,028			998
Consumer		5,527		5,527		-		5,957		106			112
Loans with a specific allowance:
Commercial real estate		1,195,246		1,195,246		225,005		1,197,414		18,983			13,456
Commercial		675,626		675,626		604,231		718,838		8,597			8,798
Total:
One-to-four family residential		512,974		512,974		-		591,134		8,083			6,355
Commercial real estate		1,261,003		1,261,003		225,005		1,292,384		16,273			10,826
Agricultural real estate		302,816		302,816		-		303,071		11,938			12,227
Commercial		675,626		675,626		604,231		718,838		8,597			8,798
Home equity		56,700		56,700		-		57,573		1,028			998
Consumer		5,527		5,527		-		5,957		106			112
Total	$	2,814,646	$	2,814,646	$	829,236	$	2,968,957	$	46,025		$	39,316

	Nine Months Ended September 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	$	512,974	$	512,974	$	-	$	594,836	$	15,585	$	12,084
Commercial real estate		65,757		65,757		-		99,115		4,088		4,129
Agricultural real estate		302,816		302,816				304,134		11,938		12,227
Home equity		56,700		56,700		-		51,809		2,853		2,813
Consumer		5,527		5,527				6,903		365		351
Loans with a specific allowance:
Commercial real estate		1,195,246		1,195,246		225,005		1,214,326		57,489		52,515
Commercial		675,626		675,626		604,231		732,675		26,037		26,637
Total:
One-to-four family residential		512,974		512,974		-		594,836		15,585		12,084
Commercial real estate		1,261,003		1,261,003		225,005		1,313,441		61,577		56,644
Agricultural real estate		302,816		302,816				304,134		11,938		12,227
Commercial		675,626		675,626		604,231		732,675		26,037		26,637
Home equity		56,700		56,700		-		51,809		2,853		2,813
Consumer		5,527		5,527		-		6,903		365		351
Total	$	2,814,646	$	2,814,646	$	829,236	$	3,003,798	$	118,355	$	110,756

	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

	September 30, 2013		December 31, 2012

One-to-four family residential	$	621,180	$	267,916
Commercial real estate		1,147,153		1,011,350
Agricultural real estate		302,816		-
Home equity		80,548		84,123
Commercial loans		647,845		701,271
Agricultural loans		-		-
Consumer loans		30,429		91,206

Total	$	2,829,971	$	2,155,866

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

	September 30, 2013		December 31, 2012

One-to-four family residential	$	549,338	$	127,399
Commercial real estate		1,147,153		983,450
Agricultural real estate		302,816		-
Home equity		75,774		84,123
Commercial loans		647,845		701,271
Agricultural loans		-		-
Consumer loans		30,429		89,045

Total	$	2,753,355	$	1,985,288

Schedule of loans modified as troubled debt restructurings

	Three Months Ended				Nine Months Ended
	September 30, 2013				September 30, 2013
	Number of		Recorded		Number of		Recorded
	Modifications		Investment		Modifications		Investment

One-to-four family residential		1	$	99,652		7	$	479,171
Commercial real estate		1		65,973		3		179,749
Agricultural real estate		1		302,816		1		302,816
Home equity		-		-		-		-
Commercial loans		-		-		-		-
Agricultural loans		-		-		-		-
Consumer loans		-		-		2		12,947

Total		3	$	468,441		13	$	974,683

	Three Months Ended				Nine Months Ended
	September 30, 2012				September 30, 2012
	Number of		Recorded		Number of		Recorded
	Modifications		Investment		Modifications		Investment

One-to-four family residential		-	$	-		1	$	43,215
Commercial real estate		-		-		-		-
Agricultural real estate		-		-		-		-
Home equity		1		10,797		2		16,555
Commercial loans		-		-		2		268,450
Agricultural loans		-		-		-		-
Consumer loans		-		-		2		18,034

Total		1	$	10,797		7	$	346,254

Schedule of nonaccrual loans

	September 30, 2013		December 31, 2012

One-to-four family residential	$	1,241,382	$	1,203,328
Commercial real estate		216,923		560,073
Agricultural real estate		-		-
Home equity		158,850		276,877
Commercial loans		41,087		51,436
Agricultural loans		-		-
Consumer loans		30,824		122,064

Total	$	1,689,066	$	2,213,778