LOAN PORTFOLIO COMPOSITION (Tables)

3 Months Ended

Mar. 31, 2014

Receivables [Abstract]

Schedule of composition of loan portfolio

	March 31, 2014					December 31, 2013
	Amount		Percent			Amount		Percent
Real estate loans:
One-to-four family residential	$	43,246,083		24.4	%	$	44,286,657		24.5	%
Commercial		38,778,453		21.8			38,920,692		21.5
Agricultural		35,897,025		20.2			35,005,662		19.4
Home equity		11,241,048		6.3			11,729,112		6.5
Total real estate loans		129,162,609		72.7			129,942,123		71.9
Commercial loans		29,435,402		16.6			29,946,928		16.6
Agricultural loans		8,730,075		4.9			10,559,593		5.8
Consumer loans		13,693,296		7.7			13,605,897		7.5
Total loans receivable		181,021,382		101.9			184,054,541		101.9
Less:
Net deferred loan fees		15,667		0.0			8,605		0.0
Allowance for loan losses		3,368,482		1.9			3,406,434		1.9
Total loans receivable, net	$	177,637,233		100.0	%	$	180,639,502		100.0	%

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

	March 31, 2014
				Commercial		Agricultural
	1-4 Family			Real Estate		Real Estate		Home Equity			Commercial			Agricultural			Consumer			Unallocated			Total
Allowance for Loan Losses:
Beginning Balance,
December 31, 2013	$	856,144		$	745,760	$	175,028	$	201,993		$	1,034,189		$	52,798		$	184,848		$	155,674		$	3,406,434
Provision charged to
expense		206,026			32,275		3,826		(4,123	)		(199,259	)		(9,148	)		20,381			(19,978	)		30,000
Losses charged off		(63,474	)		-		-		-			-			-			(5,503	)		-			(68,977	)
Recoveries		300			-		-		525			-			-			200			-			1,025
Ending balance,
March 31, 2014	$	998,996		$	778,035	$	178,854	$	198,395		$	834,930		$	43,650		$	199,926		$	135,696		$	3,368,482
Ending balance:
individually evaluated
for impairment	$	126,104		$	257,427	$	-	$	-		$	537,946		$	-		$	11,689		$	-		$	933,166
Ending balance:
collectively evaluated
for impairment	$	872,892		$	520,608	$	178,854	$	198,395		$	296,984		$	43,650		$	188,237		$	135,696		$	2,435,316
Loans:
Ending balance	$	43,246,083		$	38,778,453	$	35,897,025	$	11,241,048		$	29,435,402		$	8,730,075		$	13,693,296		$	-		$	181,021,382
Ending balance:
individually evaluated
for impairment	$	549,565		$	1,863,091	$	126,323	$	26,924		$	873,113		$	-		$	110,935		$	-		$	3,549,951
Ending balance:
collectively evaluated
for impairment	$	42,696,518		$	36,915,362	$	35,770,702	$	11,214,124		$	28,562,289		$	8,730,075		$	13,582,361		$	-		$	177,471,431

	March 31, 2013
			Commercial			Agricultural
	1-4 Family		Real Estate			Real Estate		Home Equity			Commercial		Agricultural		Consumer			Unallocated		Total
Allowance for Loan Losses:
Beginning Balance,
December 31, 2012	$	741,029	$	828,873		$	149,568	$	328,996		$	934,251	$	43,930	$	151,474		$	161,343	$	3,339,464
Provision charged to
expense		23,583		(79,312	)		34,212		(114,401	)		25,412		640		61,233			78,633		30,000
Losses charged off		-		-			-		-			-		-		(45,759	)		-		(45,759	)
Recoveries		14,631		87,882			-		13,025			-		-		6,726			-		122,264
Ending balance,
March 31, 2013	$	779,243	$	837,443		$	183,780	$	227,620		$	959,663	$	44,570	$	173,674		$	239,976	$	3,445,969
Ending balance:
individually evaluated
for impairment	$	-	$	248,808		$	-	$	-		$	609,067	$	-	$	-		$	-	$	857,875
Ending balance:
collectively evaluated
for impairment	$	779,243	$	588,635		$	183,780	$	227,620		$	350,596	$	44,570	$	173,674		$	239,976	$	2,588,094
Loans:
Ending balance	$	40,465,539	$	33,479,415		$	36,756,071	$	11,844,071		$	25,701,469	$	8,914,015	$	14,479,652		$	-	$	171,640,232
Ending balance:
individually evaluated
for impairment	$	338,494	$	1,390,864		$	-	$	49,809		$	707,539	$	-	$	7,467		$	-	$	2,494,173
Ending balance:
collectively evaluated
for impairment	$	40,127,045	$	32,088,551		$	36,756,071	$	11,794,262		$	24,993,930	$	8,914,015	$	14,472,185		$	-	$	169,146,059

	December 31, 2013
				Commercial			Agricultural
	1-4 Family			Real Estate			Real Estate		Home Equity			Commercial		Agricultural		Consumer			Unallocated			Total
Allowance for Loan Losses:
Beginning Balance,
December 31, 2012	$	741,029		$	828,873		$	149,568	$	328,996		$	934,251	$	43,930	$	151,474		$	161,343		$	3,339,464
Provision charged to
expense		261,492			(218,949	)		25,460		(78,628	)		92,597		8,868		84,829			(5,669	)		170,000
Losses charged off		(162,448	)		-			-		(63,410	)		-		-		(66,467	)		-			(292,325	)
Recoveries		16,071			135,836			-		15,035			7,341		-		15,012			-			189,295
Ending balance,
December 31, 2013	$	856,144		$	745,760		$	175,028	$	201,993		$	1,034,189	$	52,798	$	184,848		$	155,674		$	3,406,434
Ending balance:
individually evaluated
for impairment	$	-		$	248,857		$	-	$	-		$	622,730	$	-	$	10,836		$	-		$	882,423
Ending balance:
collectively evaluated
for impairment	$	856,144		$	496,903		$	175,028	$	201,993		$	411,459	$	52,798	$	174,012		$	155,674		$	2,524,011
Loans:
Ending balance	$	44,286,657		$	38,920,692		$	35,005,662	$	11,729,112		$	29,946,928	$	10,559,593	$	13,605,897		$	-		$	184,054,541
Ending balance:
individually evaluated
for impairment	$	563,524		$	1,531,078		$	-	$	71,548		$	662,730	$	-	$	101,089		$	-		$	2,929,969
Ending balance:
collectively evaluated
for impairment	$	43,723,133		$	37,389,614		$	35,005,662	$	11,657,564		$	29,284,198	$	10,559,593	$	13,504,808		$	-		$	181,124,572

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
	March 31,		December 31,		March 31,		December 31,		March 31,		December 31,		March 31,		December 31,
	2014		2013		2014		2013		2014		2013		2014		2013
Rating:
Pass	$	40,068,550	$	41,061,498	$	36,095,675	$	36,489,660	$	35,770,702	$	35,005,662	$	10,792,627	$	11,215,416
Special Mention		763,850		775,545		55,906		57,488		-		-		152,266		155,515
Substandard		2,413,683		2,449,614		2,626,872		2,373,544		126,323		-		296,155		358,181
Total	$	43,246,083	$	44,286,657	$	38,778,453	$	38,920,692	$	35,897,025	$	35,005,662	$	11,241,048	$	11,729,112
	Commercial				Agricultural				Consumer				Total
	March 31,		December 31,		March 31,		December 31,		March 31,		December 31,		March 31,		December 31,
	2014		2013		2014		2013		2014		2013		2014		2013
Rating:
Pass	$	28,510,649	$	29,231,227	$	8,730,075	$	10,559,593	$	13,310,990	$	13,302,507	$	173,279,268	$	176,865,563
Special Mention		-		-		-		-		84,562		68,480		1,056,584		1,057,028
Substandard		924,753		715,701		-		-		297,744		234,910		6,685,530		6,131,950
Total	$	29,435,402	$	29,946,928	$	8,730,075	$	10,559,593	$	13,693,296	$	13,605,897	$	181,021,382	$	184,054,541

Schedule of loan portfolio aging analysis

	March 31, 2014
	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	$	717,032	$	61,229	$	767,328	$	1,545,589	$	41,700,494	$	43,246,083	$	-
Commercial real estate		300,779		-		81,739		382,518		38,395,935		38,778,453		-
Agricultural real estate		-		-		126,323		126,323		35,770,702		35,897,025		-
Home equity		67,333		47,167		61,131		175,631		11,065,417		11,241,048		-
Commercial		-		-		-		-		29,435,402		29,435,402		-
Agricultural		-		-		-		-		8,730,075		8,730,075		-
Consumer		74,706		23,932		142,859		241,497		13,451,799		13,693,296		-
Total	$	1,159,850	$	132,328	$	1,179,380	$	2,471,558	$	178,549,824	$	181,021,382	$	-

	December 31, 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	$	350,539	$	95,782	$	806,877	$	1,253,198	$	43,033,459	$	44,286,657	$	-
Commercial real estate		-		68,216		78,281		146,497		38,774,195		38,920,692		-
Agricultural real estate		-		-		-		-		35,005,662		35,005,662		-
Home equity		156,331		47,585		55,288		259,204		11,469,908		11,729,112		-
Commercial		-		-		-		-		29,946,928		29,946,928		-
Agricultural		-		-		-		-		10,559,593		10,559,593		-
Consumer		108,452		26,212		9,900		144,564		13,461,333		13,605,897		-
Total	$	615,322	$	237,795	$	950,346	$	1,803,463	$	182,251,078	$	184,054,541	$	-

Schedule of impaired loan

	Three Months Ended March 31, 2014
							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	$	143,159	$	143,159	$	-	$	223,902	$	3,244	$	3,494
Commercial real estate		452,080		452,080		-		476,167		5,510		1,182
Agricultural real estate		126,323		126,323		-		127,166		3,100		843
Commercial		290,000		290,000		-		319,109		3,541		1,008
Home equity		26,924		26,924		-		30,851		718		798
Consumer		13,521		13,521		-		14,542		276		316
Loans with a specific allowance:
One-to-four family residential		406,406		406,406		126,104		410,611		5,929		4,655
Commercial real estate		1,411,011		1,411,011		257,427		1,447,978		21,174		20,948
Commercial		583,113		583,113		537,946		650,046		7,856		7,918
Consumer		97,414		97,414		11,689		97,414		958		-
Total:
One-to-four family residential		549,565		549,565		126,104		634,513		9,174		8,149
Commercial real estate		1,863,091		1,863,091		257,427		1,924,145		26,684		22,130
Agricultural real estate		126,323		126,323		-		127,166		3,100		843
Commercial		873,113		873,113		537,946		969,155		11,397		8,926
Home equity		26,924		26,924		-		30,851		718		798
Consumer		110,935		110,935		11,689		111,956		1,235		316
Total	$	3,549,951	$	3,549,951	$	933,166	$	3,797,786	$	52,308	$	41,162

	Three Months Ended March 31, 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	$	338,494	$	338,494	$	-	$	339,117	$	4,242	$	4,177
Home equity		49,809		49,809		-		43,962		863		861
Consumer		7,467		7,467		-		7,866		137		109
Loans with a specific allowance:
Commercial real estate		1,390,864		1,390,864		248,808		1,451,747		22,634		22,523
Commercial		707,539		707,539		609,067		747,865		9,716		10,030
Total:
One-to-four family residential		338,494		338,494		-		339,117		4,242		4,177
Commercial real estate		1,390,864		1,390,864		248,808		1,451,747		22,634		22,523
Commercial		707,539		707,539		609,067		747,865		9,716		10,030
Home equity		49,809		49,809		-		43,962		863		861
Consumer		7,467		7,467		-		7,866		137		109
Total	$	2,494,173	$	2,494,173	$	857,875	$	2,590,557	$	37,592	$	37,700

	Year Ended December 31, 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	$	563,524	$	563,524	$	-	$	652,373	$	27,250	$	25,347
Commercial real estate		63,293		63,293		-		96,019		5,282		5,327
Home equity		71,548		71,548		-		66,388		3,017		2,980
Consumer		4,528		4,528		-		6,419		453		442
Loans with a specific allowance:
Commercial real estate		1,467,785		1,467,785		248,857		1,488,243		79,719		74,028
Commercial		662,730		662,730		622,730		726,269		34,465		33,921
Consumer		96,561		96,561		10,836		99,401		1,586		1,576
Total:
One-to-four family residential		563,524		563,524		-		652,373		27,250		25,347
Commercial real estate		1,531,078		1,531,078		248,857		1,584,262		85,001		79,355
Commercial		662,730		662,730		622,730		726,269		34,465		33,921
Home equity		71,548		71,548		-		66,388		3,017		2,980
Consumer		101,089		101,089		10,836		105,820		2,039		2,018
Total	$	2,929,969	$	2,929,969	$	882,423	$	3,135,112	$	151,772	$	143,621

Schedule of recorded balance at original cost of troubled debt restructurings

	March 31, 2014		December 31, 2013
One-to-four family residential	$	629,546	$	661,880
Commercial real estate		1,061,843		1,137,667
Agricultural real estate		-		-
Home equity		77,046		79,087
Commercial loans		595,261		675,483
Agricultural loans		-		-
Consumer loans		61,034		43,559
Total	$	2,424,730	$	2,597,676

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

	March 31, 2014		December 31, 2013
One-to-four family residential	$	559,629	$	591,000
Commercial real estate		1,061,843		1,074,194
Agricultural real estate		-		-
Home equity		73,019		13,015
Commercial loans		595,261		675,483
Agricultural loans		-		-
Consumer loans		61,034		42,059
Total	$	2,350,786	$	2,395,751

Schedule of loans modified as troubled debt restructurings

	Three Months Ended				Three Months Ended
	March 31, 2014				March 31, 2013
	Number of		Recorded		Number of		Recorded
	Modifications		Investment		Modifications		Investment
One-to-four family residential		-	$	-		3	$	151,226
Commercial real estate		-		-		2		112,279
Agricultural real estate		-		-		-		-
Home equity		-		-		-		-
Commercial loans		-		-		-		-
Agricultural loans		-		-		-		-
Consumer loans		1		19,582		2		15,259
Total		1	$	19,582		7	$	278,764

Schedule of nonaccrual loans

	March 31, 2014		December 31, 2013
One-to-four family residential	$	1,319,087	$	1,339,487
Commercial real estate		200,556		208,297
Agricultural real estate		126,323		-
Home equity		119,921		133,823
Commercial loans		34,808		37,939
Agricultural loans		-		-
Consumer loans		211,531		62,617
Total	$	2,012,226	$	1,782,163