DISCLOSURES ABOUT FAIR VALUE OF ASSETS AND LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

Schedule of fair value measurements of assets recognized in balance sheets measured at fair value on recurring basis

			March 31,2014
			Fair Value Measurements Using
			Quoted Prices
			in Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
			Assets		Inputs		Inputs
	Fair Value		(Level 1)		(Level 2)		(Level 3)
U.S. Government and
agencies	$	10,464,837	$	-	$	10,464,837	$	-
Mortgage-backed securities
(Government sponsored
enterprises - residential)		49,009,615		-		49,009,615		-
Municipal bonds		49,729,867		-		49,729,867		-

			December 31, 2013
			Fair Value Measurements Using
			Quoted Prices
			in Active		Significant
			Markets for		Other		Significant
			Identical		Observable		Unobservable
			Assets		Inputs		Inputs
	Fair Value		(Level 1)		(Level 2)		(Level 3)
U.S. Government and
agencies	$	10,420,076	$	-	$	10,420,076	$	-
Mortgage-backed securities
(Government sponsored
enterprises - residential)		48,345,655		-		48,345,655		-
Municipal bonds		50,218,866		-		50,218,866		-

Schedule of fair value measurement of assets measured at fair value on nonrecurring basis

			March 31, 2014
			Fair Value Measurements Using
			Quoted Prices
			in Active		Significant
			Markets  for		Other		Significant
			Identical		Observable		Unobservable
			Assets		Inputs		Inputs
	Fair Value		(Level 1)		(Level 2)		(Level 3)
Impaired loans
(collateral dependent)	$	1,223,540	$	-	$	-	$	1,223,540
Foreclosed assets		34,899		-		-		34,899

			December 31, 2013
			Fair Value Measurements Using
			Quoted Prices
			in Active		Significant
			Markets  for		Other		Significant
			Identical		Observable		Unobservable
			Assets		Inputs		Inputs
	Fair Value		(Level 1)		(Level 2)		(Level 3)
Impaired loans
(collateral dependent)	$	1,219,185	$	-	$	-	$	1,219,185
Mortgage servicing rights		673,576		-		-		673,576

Schedule of quantitative information about unobservable inputs used in recurring and nonrecurring level 3 fair value measurements

	Fair Value at 3/31/14		Valuation  Technique	Unobservable Inputs	Range (Weighted  Average)
Collateral-dependent  impaired loans		1,223,540	Market comparable  properties	Marketability discount		20% – 30% (25%)
Foreclosed assets		34,899	Market comparable Properties	Comparability Adjustment		(6%)

	Fair Value at  12/31/13		Valuation  Technique	Unobservable Inputs	Range (Weighted  Average)
Collateral-dependent  impaired loans		1,219,185	Market comparable  properties	Marketability discount		20% – 30% (25%)
Mortgage servicing rights		673,576	Discounted cash flow	Discount rate PSA standard prepayment model rate		8 – 12.5% (10.24%)  144 – 342 (164)

Schedule of estimated fair values of other financial instrument

			March 31, 2014
			Fair Value Measurements Using
			Quoted Prices		Significant
			in Active		Other		Significant
			Markets for		Observable		Unobservable
	Carrying		Identical Assets		Inputs		Inputs
	Amount		(Level 1)		(Level 2)		(Level 3)
Financial Assets
Cash and cash equivalents	$	5,065,463	$	5,065,463	$	-	$	-
Other investments		80,515		-		80,515		-
Loans held for sale		1,116,450		-		1,116,450		-
Loans, net of allowance for loan losses		177,637,233		-		-		175,520,030
Federal Home Loan Bank stock		1,113,800		-		1,113,800		-
Interest receivable		2,000,675		-		2,000,675		-
Financial Liabilities
Deposits		256,206,730		-		149,696,066		109,337,212
Short-term borrowings		9,112,412		-		9,112,412		-
Advances from borrowers for taxes
and insurance		1,283,848		-		1,283,848		-
Interest payable		197,971		-		197,971		-
Unrecognized financial instruments (net
of contract amount)
Commitments to originate loans		-		-		-		-
Letters of credit		-		-		-		-
Lines of credit		-		-		-		-

			December 31, 2013
			Fair Value Measurements Using
			Quoted Prices		Significant
			in Active		Other		Significant
			Markets for		Observable		Unobservable
	Carrying		Identical Assets		Inputs		Inputs
	Amount		(Level 1)		(Level 2)		(Level 3)
Financial Assets
Cash and cash equivalents	$	6,098,870	$	6,098,870	$	-	$	-
Other investments		81,918		-		81,918		-
Loans held for sale		262,461		-		262,461		-
Loans, net of allowance for loan losses		180,639,502		-		-		178,866,833
Federal Home Loan Bank stock		1,113,800		-		1,113,800		-
Interest receivable		1,817,415		-		1,817,415		-
Financial Liabilities
Deposits		251,738,391		-		143,586,822		111,116,837
Short-term borrowings		19,610,297		-		19,610,297		-
Advances from borrowers for taxes
and insurance		857,814		-		857,814		-
Interest payable		210,226		-		210,226		-
Unrecognized financial instruments (net
of contract amount)
Commitments to originate loans		-		-		-		-
Letters of credit		-		-		-		-
Lines of credit		-		-		-		-