Note 15 - Other Borrowings	12 Months Ended
Note 15 - Other Borrowings	Dec. 31, 2011
Note 15 - Other Borrowings Disclosure
Note 15 - Other Borrowings	NOTE 15 - Other Borrowings Other borrowings consist of accounts due to the Federal Reserve Bank under a $7,000,000 treasury, tax and loan depository agreement. Such borrowings bear interest at the lender bank’s announced daily federal funds rate and mature on demand. There were no treasury, tax and loan account balances as of December 31, 2011 compared to $4,815,964 at December 31, 2010. Such accounts generally are repaid within one to 120 days from the transaction date and are collateralized by a pledge of investment securities with a carrying value of $7,036,880 and $7,170,150 at December 31, 2011 and 2010, respectively. The Bank has the ability to borrow (purchase) federal funds of up to $50,000,000 under a revolving line-of-credit. Such borrowings bear interest at the lender bank's announced daily federal funds rate and mature daily. There were no federal funds purchased outstanding at December 31, 2011 or 2010. The Bank may also borrow through securities sold under repurchase agreements (reverse repurchase agreements). Reverse repurchase agreements, which are classified as secured borrowings, generally mature within one to four days from the transaction date. They are reflected at the amount of cash received in connection with the transaction. The Bank had no borrowings outstanding under reverse repurchase agreements at December 31, 2011 and 2010, respectively and, accordingly, the Bank did not pledge any U.S. government sponsored entity securities and municipal obligations at December 31, 2011 or 2010 as collateral under the master repurchase agreement. At December 31, 2011, the Bank could pledge up to $182,950,649 of additional securities as collateral under the existing agreements if needed to obtain additional borrowings. The Bank may be required to provide additional collateral based on the fair value of the underlying securities. The Bank may also borrow through the Federal Reserve Bank Discount Window short term funds up to the amount of $52,708,500 and $74,412,000 as of December 31, 2011 and 2010, respectively. These funds are secured by U.S. government sponsored entity securites or qualified municipal securities totaling $58,565,000 and $82,680,000 as of December 31, 2011 and 2010, respectively.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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