INVESTMENTS (Tables)

3 Months Ended

Mar. 31, 2014

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
March 31, 2014:
U.S. government and agencies	$	10,665,828	$	103,698	$	(304,689	)	$	10,464,837
Mortgage-backed securities (government-
sponsored enterprises - residential)		49,644,442		258,131		(892,958	)		49,009,615
Municipal bonds		49,730,707		1,202,823		(1,203,663	)		49,729,867
	$	110,040,977	$	1,564,652	$	(2,401,310	)	$	109,204,319
December 31, 2013:
U.S. government and agencies	$	10,710,675	$	114,936	$	(405,535	)	$	10,420,076
Mortgage-backed securities (government-
sponsored enterprises - residential)		49,486,337		219,222		(1,359,904	)		48,345,655
Municipal bonds		50,889,046		1,053,134		(1,723,314	)		50,218,866
	$	111,086,058	$	1,387,292	$	(3,488,753	)	$	108,984,597

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

	Amortized		Fair
	Cost		Value
Within one year	$	96,049	$	97,076
One to five years		8,426,041		8,726,223
Five to ten years		25,087,635		25,113,697
After ten years		26,786,810		26,257,708
		60,396,535		60,194,704
Mortgage-backed securities (government-
sponsored enterprises - residential)		49,644,442		49,009,615
	$	110,040,977	$	109,204,319

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
March 31, 2014	Losses			Value		Losses			Value		Losses			Value
Municipal bonds	$	(789,168	)	$	16,895,964	$	(414,495	)	$	5,513,523	$	(1,203,663	)	$	22,409,487
U.S. government agencies		(221,116	)		5,221,925		(83,573	)		1,136,555		(304,689	)		6,358,480
Mortgage-backed securities
(government sponsored
enterprises - residential)		(639,756	)		28,713,653		(253,202	)		6,349,139		(892,958	)		35,062,792
Total	$	(1,650,040	)	$	50,831,542	$	(751,270	)	$	12,999,217	$	(2,401,310	)	$	63,830,759

	Less Than Twelve Months					Twelve Months or More					Total
	Gross					Gross					Gross
	Unrealized			Fair		Unrealized			Fair		Unrealized			Fair
December 31, 2013	Losses			Value		Losses			Value		Losses			Value
Municipal bonds	$	(1,462,733	)	$	22,534,325	$	(260,581	)	$	2,759,523	$	(1,723,314	)	$	25,293,848
U.S. government agencies		(367,005	)		5,824,808		(38,530	)		470,324		(405,535	)		6,295,132
Mortgage-backed securities
(government sponsored
enterprises - residential)		(1,065,542	)		33,521,545		(294,362	)		6,087,526		(1,359,904	)		39,609,071
Total	$	(2,895,280	)	$	61,880,678	$	(593,473	)	$	9,317,373	$	(3,488,753	)	$	71,198,051