INVESTMENTS (Tables)

9 Months Ended

Sep. 30, 2013

Investments, Debt and Equity Securities [Abstract]

Schedule of amortized cost and approximate fair values with gross unrealized gains and losses of available for sale securities

			Gross		Gross
	Amortized		Unrealized		Unrealized
	Cost		Gains		Losses			Fair Value
September 30, 2013:
U.S. government and agencies	$	11,749,908	$	134,053	$	(367,564	)	$	11,516,397
Mortgage-backed securities (government-
sponsored enterprises - residential)		52,122,279		512,933		(886,094	)		51,749,118
Municipal bonds		50,471,758		1,216,267		(1,522,802	)		50,165,223
	$	114,343,945	$	1,863,253	$	(2,776,460	)	$	113,430,738
December 31, 2012:
U.S. government and agencies	$	10,090,835	$	248,601	$	(10,556	)	$	10,328,880
Mortgage-backed securities (government-
sponsored enterprises - residential)		50,917,555		1,134,245		(95,319	)		51,956,481
Municipal bonds		49,990,655		3,264,169		(152,362	)		53,102,462
	$	110,999,045	$	4,647,015	$	(258,237	)	$	115,387,823

Schedule of amortized cost and fair value of available-for-sale securities by contractual maturities

	Amortized		Fair
	Cost		Value
Within one year	$	100,325	$	100,568
One to five years		9,966,022		10,320,843
Five to ten years		21,418,179		21,453,903
After ten years		30,737,140		29,806,306
		62,221,666		61,681,620
Mortgage-backed securities (government-
sponsored enterprises - residential)		52,122,279		51,749,118
	$	114,343,945	$	113,430,738

Schedule of gross unrealized losses and fair value in continuous loss position

	Less Than Twelve Months					Twelve Months or More					Total
	Gross					Gross					Gross
	Unrealized			Fair		Unrealized			Fair		Unrealized			Fair
	Losses			Value		Losses			Value		Losses			Value
September 30, 2013:
Municipal bonds	$	(1,506,532	)	$	23,374,901	$	(16,270	)	$	448,178	$	(1,522,802	)	$	23,823,079
U.S. government and agencies		(367,564	)		6,369,839		-			-		(367,564	)		6,369,839
Subtotal		(1,874,096	)		29,744,740		(16,270	)		448,178		(1,890,366	)		30,192,918
Mortgage-backed securities
(government sponsored
enterprises - residential)		(886,094	)		28,939,697		-			-		(886,094	)		28,939,697
Total	$	(2,760,190	)	$	58,684,437	$	(16,270	)	$	448,178	$	(2,776,460	)	$	59,132,615
December 31, 2012:
Municipal bonds	$	(152,362	)	$	7,237,453	$	-		$	-	$	(152,362	)	$	7,237,453
U.S. government and agencies		(10,556	)		545,291		-			-		(10,556	)		545,291
Subtotal		(162,918	)		7,782,744		-			-		(162,918	)		7,782,744
Mortgage-backed securities
(government sponsored
enterprises - residential)		(95,319	)		16,172,999		-			-		(95,319	)		16,172,999
Total	$	(258,237	)	$	23,955,743	$	-		$	-	$	(258,237	)	$	23,955,743