LOAN PORTFOLIO COMPOSITION (Tables)

6 Months Ended

Jun. 30, 2014

Receivables [Abstract]

Schedule of composition of loan portfolio

	June 30, 2014					December 31, 2013
	Amount		Percent			Amount		Percent
Real estate loans:
One-to-four family residential	$	43,684,425		25.1	%	$	44,286,657		24.5	%
Commercial		37,004,558		21.3			38,920,692		21.5
Agricultural		35,266,843		20.3			35,005,662		19.4
Home equity		10,831,605		6.2			11,729,112		6.5
Total real estate loans		126,787,431		72.9			129,942,123		71.9
Commercial loans		27,187,727		15.6			29,946,928		16.6
Agricultural loans		10,047,982		5.8			10,559,593		5.9
Consumer loans		13,223,710		7.6			13,605,897		7.5
Total loans receivable		177,246,850		101.9			184,054,541		101.9
Less:
Net deferred loan fees		5,119		0.0			8,605		0.0
Allowance for loan losses		3,341,267		1.9			3,406,434		1.9
Total loans receivable, net	$	173,900,464		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

	June 30, 2014
				Commercial			Agricultural
	1-4 Family			Real Estate			Real Estate			Home Equity			Commercial			Agricultural			Consumer			Unallocated		Total
Allowance for Loan Losses:
Beginning Balance,
April 1, 2014	$	1,062,470		$	714,561		$	178,854		$	198,395		$	834,930		$	43,650		$	199,926		$	135,696	$	3,368,482
Provision charged to expense		(32,365	)		86,603			(3,151	)		(23,445	)		(96,626	)		6,590			(16,481	)		108,875		30,000
Losses charged off		(30,000	)		(30,000	)		-			-			-			-			-			-		(60,000	)
Recoveries		660			168			-			525			32			-			1,400			-		2,785
Ending balance,
June 30, 2014	$	1,000,765		$	771,332		$	175,703		$	175,475		$	738,336		$	50,240		$	184,845		$	244,571	$	3,341,267
Beginning Balance, January 1, 2014	$	856,144		$	745,760		$	175,028		$	201,993		$	1,034,189		$	52,798		$	184,848		$	155,674	$	3,406,434
Provision charged to expense		173,661			118,878			675			(27,568	)		(295,885	)		(2,558	)		3,900			88,897		60,000
Losses charged off		(30,000	)		(93,474	)		-			-			-			-			(5,503	)		-		(128,977	)
Recoveries		960			168			-			1,050			32			-			1,600			-		3,810
Ending balance,
June 30, 2014	$	1,000,765		$	771,332		$	175,703		$	175,475		$	738,336		$	50,240		$	184,845		$	244,571	$	3,341,267
Ending balance:
individually evaluated for impairment	$	151,622		$	305,955		$	-		$	-		$	460,722		$	-		$	11,689		$	-	$	929,988
Ending balance:
collectively evaluated for impairment	$	849,143		$	465,377		$	175,703		$	175,475		$	277,614		$	50,240		$	173,156		$	244,571	$	2,411,279
Loans:
Ending balance	$	43,684,425		$	37,004,558		$	35,266,843		$	10,831,605		$	27,187,727		$	10,047,982		$	13,223,710		$	-	$	177,246,850
Ending balance:
individually evaluated for impairment	$	533,710		$	1,457,895		$	126,323		$	29,246		$	547,437		$	-		$	110,179		$	-	$	2,804,790
Ending balance:
collectively evaluated for impairment	$	43,150,715		$	35,546,663		$	35,140,520		$	10,802,359		$	26,640,290		$	10,047,982		$	13,113,531		$	-	$	174,442,060

	June 30, 2013
			Commercial			Agricultural
	1-4 Family		Real Estate			Real Estate		Home Equity			Commercial		Agricultural		Consumer			Unallocated		Total
Allowance for Loan Losses:
Beginning Balance,
April 1, 2013	$	779,243	$	837,443		$	183,780	$	227,620		$	959,663	$	44,570	$	173,674		$	239,976	$	3,445,969
Provision charged to expense		48,470		(67,621	)		1,606		(11,574	)		11,911		8,813		(6,715	)		15,110		-
Losses charged off		-		-			-		-			-		-		(6,427	)		-		(6,427	)
Recoveries		840		23,687			-		525			7,341		-		601			-		32,994
Ending balance,
June 30, 2013	$	828,553	$	793,509		$	185,386	$	216,571		$	978,915	$	53,383	$	161,133		$	255,086	$	3,472,536
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		72,053		(146,933	)		35,818		(125,975	)		37,323		9,453		54,518			93,743		30,000
Losses charged off		-		-			-		-			-		-		(52,186	)		-		(52,186	)
Recoveries		15,471		111,569			-		13,550			7,341		-		7,327			-		155,258
Ending balance,
June 30, 2013	$	828,553	$	793,509		$	185,386	$	216,571		$	978,915	$	53,383	$	161,133		$	255,086	$	3,472,536
Ending balance:
individually evaluated for impairment	$	-	$	231,740		$	-	$	-		$	648,701	$	-	$	-		$	-	$	880,441
Ending balance:
collectively evaluated for impairment	$	828,553	$	561,769		$	185,386	$	216,571		$	330,214	$	53,383	$	161,133		$	255,086	$	2,592,095
Loans:
Ending balance	$	41,156,553	$	33,004,015		$	37,077,179	$	11,652,179		$	24,400,611	$	10,676,640	$	14,361,986		$	-	$	172,329,163
Ending balance:
individually evaluated for impairment	$	420,195	$	1,366,682		$	-	$	64,765		$	690,046	$	-	$	6,505		$	-	$	2,548,193
Ending balance:
collectively evaluated for impairment	$	40,736,358	$	31,637,333		$	37,077,179	$	11,587,414		$	23,710,565	$	10,676,640	$	14,355,481		$	-	$	169,780,970

	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
	June 30,		December 31,		June 30,		December 31,		June 30,		December 31,		June 30,		December 31,
	2014		2013		2014		2013		2014		2013		2014		2013
Rating:
Pass	$	40,724,601	$	41,061,498	$	34,880,240	$	36,489,660	$	35,140,520	$	35,005,662	$	10,470,971	$	11,215,416
Special Mention		709,084		775,545		55,087		57,488		-		-		120,047		155,515
Substandard		2,250,740		2,449,614		2,069,231		2,373,544		126,323		-		240,587		358,181
Total	$	43,684,425	$	44,286,657	$	37,004,558	$	38,920,692	$	35,266,843	$	35,005,662	$	10,831,605	$	11,729,112

	Commercial				Agricultural				Consumer				Total
	June 30,		December 31,		June 30,		December 31,		June 30,		December 31,		June 30,		December 31,
	2014		2013		2014		2013		2014		2013		2014		2013
Rating:
Pass	$	26,589,902	$	29,231,227	$	10,047,982	$	10,559,593	$	12,896,586	$	13,302,507	$	170,750,802	$	176,865,563
Special Mention		-		-		-		-		72,601		68,480		956,819		1,057,028
Substandard		597,825		715,701		-		-		254,523		234,910		5,539,229		6,131,950
Total	$	27,187,727	$	29,946,928	$	10,047,982	$	10,559,593	$	13,223,710	$	13,605,897	$	177,246,850	$	184,054,541

Schedule of loan portfolio aging analysis

	June 30, 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	$	222,264	$	225,591	$	838,823	$	1,286,678	$	42,397,747	$	43,684,425	$	-
Commercial real estate		889,308		-		61,270		950,578		36,053,980		37,004,558		-
Agricultural real estate		-		-		126,323		126,323		35,140,520		35,266,843		-
Home equity		132,223		20,681		51,296		204,200		10,627,405		10,831,605		-
Commercial		-		-		286,411		286,411		26,901,316		27,187,727		-
Agricultural		-		-		-		-		10,047,982		10,047,982		-
Consumer		48,504		47,192		120,286		215,982		13,007,728		13,223,710		-
Total	$	1,292,299	$	293,464	$	1,484,409	$	3,070,172	$	174,176,678	$	177,246,850	$	-

	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 June 30, 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	$	138,562	$	138,562	$	-	$	221,698	$	3,220	$	3,170
Commercial real estate		58,366		58,366		-		337,676		4,001		8,342
Agricultural real estate		126,323		126,323		-		127,166		3,134		-
Home equity		29,246		29,246		-		30,240		708		685
Consumer		12,765		12,765		-		12,965		234		20
Loans with a specific allowance:
One-to-four family residential		395,148		395,148		151,622		401,035		6,185		7,811
Commercial real estate		1,399,529		1,399,529		305,955		1,404,581		20,860		17,806
Commercial		547,437		547,437		460,722		609,401		7,807		2,542
Consumer		97,414		97,414		11,689		97,414		970		-
Total:
One-to-four family residential		533,710		533,710		151,622		622,733		9,405		10,981
Commercial real estate		1,457,895		1,457,895		305,955		1,742,257		24,861		26,148
Agricultural real estate		126,323		126,323		-		127,166		3,134		-
Commercial		547,437		547,437		460,722		609,401		7,807		2,542
Home equity		29,246		29,246		-		30,240		708		685
Consumer		110,179		110,179		11,689		110,379		1,204		20
Total	$	2,804,790	$	2,804,790	$	929,988	$	3,242,176	$	47,119	$	40,376

	Six Months Ended June 30, 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	$	138,562	$	138,562	$	-	$	222,794	$	6,464	$	6,664
Commercial real estate		58,366		58,366		-		406,539		9,511		9,524
Agricultural real estate		126,323		126,323		-		127,166		6,234		843
Home equity		29,246		29,246		-		30,544		1,426		1,483
Consumer		12,765		12,765		-		13,305		510		336
Loans with a specific allowance:
One-to-four family residential		395,148		395,148		151,622		405,796		12,114		12,466
Commercial real estate		1,399,529		1,399,529		305,955		1,426,043		42,034		38,754
Commercial		547,437		547,437		460,722		629,941		15,653		10,460
Consumer		97,414		97,414		11,689		97,414		1,928		-
Total:
One-to-four family residential		533,710		533,710		151,622		628,590		18,578		19,130
Commercial real estate		1,457,895		1,457,895		305,955		1,832,582		51,545		48,278
Agricultural real estate		126,323		126,323		-		127,166		6,234		843
Commercial		547,437		547,437		460,722		629,941		15,653		10,460
Home equity		29,246		29,246		-		30,544		1,426		1,483
Consumer		110,179		110,179		11,689		110,719		2,438		336
Total	$	2,804,790	$	2,804,790	$	929,988	$	3,359,542	$	95,874	$	80,530

	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

	June 30, 2014		December 31, 2013
One-to-four family residential	$	585,528	$	661,880
Commercial real estate		943,025		1,137,667
Agricultural real estate		-		-
Home equity		15,502		79,087
Commercial loans		558,994		675,483
Agricultural loans		-		-
Consumer loans		48,742		43,559
Total	$	2,151,791	$	2,597,676

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

	June 30, 2014		December 31, 2013
One-to-four family residential	$	546,572	$	591,000
Commercial real estate		53,992		1,074,194
Agricultural real estate		-		-
Home equity		11,700		13,015
Commercial loans		272,583		675,483
Agricultural loans		-		-
Consumer loans		48,742		42,059
Total	$	933,589	$	2,395,751

Schedule of loans modified as troubled debt restructurings

	Three Months Ended				Six Months Ended
	June 30, 2014				June 30, 2014
	Number of		Recorded		Number of		Recorded
	Modifications		Investment		Modifications		Investment
One-to-four family residential		-	$	-		-	$	-
Commercial real estate		-		-		-		-
Agricultural real estate		-		-		-		-
Home equity		-		-		-		-
Commercial loans		-		-		-		-
Agricultural loans		-		-		-		-
Consumer loans		-		-		1		18,489
Total		-	$	-		1	$	18,489

	Three Months Ended				Six Months Ended
	June 30, 2013				June 30, 2013
	Number of		Recorded		Number of		Recorded
	Modifications		Investment		Modifications		Investment
One-to-four family residential		3	$	234,015		6	$	383,982
Commercial real estate		-		-		2		114,567
Agricultural real estate		-		-		-		-
Home equity		-		-		-		-
Commercial loans		-		-		-		-
Agricultural loans		-		-		-		-
Consumer loans		-		-		2		14,151
Total		3	$	234,015		10	$	512,700

Schedule of nonaccrual loans

	June 30, 2014		December 31, 2013
One-to-four family residential	$	1,219,580	$	1,339,487
Commercial real estate		173,629		208,297
Agricultural real estate		126,323		-
Home equity		138,764		133,823
Commercial loans		315,234		37,939
Agricultural loans		-		-
Consumer loans		179,529		62,617
Total	$	2,153,059	$	1,782,163