Loans and Allowance for Loan Losses (Tables)

12 Months Ended

Dec. 31, 2012

Loans and Leases Receivable, Allowance [Abstract]

Schedule of Composition of Corporation's Loan Portfolio

The composition of the Corporation’s loan portfolio at December 31, 2012 and 2011 was as follows:

	2012	2011
Commercial, financial and agricultural loans	$ 40,506,802	$ 36,677,906
Real estate:
Construction loans	16,988,817	13,224,081
Commercial mortgage loans	70,059,410	60,599,120
Residential loans	62,433,339	59,177,824
Agricultural loans	10,169,251	6,283,665
Consumer & other loans	4,009,497	5,369,787
Loans Outstanding	204,167,116	181,332,383
Unearned interest and discount	(30,100)	(30,069)
Allowance for loan losses	(2,844,903)	(3,100,000)
Net loans	$201,292,113	$178,202,314

Schedule of Past Due Loans and Nonaccrual Loans

The following table presents an age analysis of past due loans and nonaccrual loans segregated by class of loans. We do not have any accruing loans that are 90 days or more past due.

	Age Analysis of Past Due Loan As of December 31, 2012
	30-89 Days Past Due	Greater than 90 Days	Total Past Due Loans	Nonaccrual Loans	Current Loans	Total Loans
Commercial, financial and agricultural loans	$ 317,692	$  0	$ 317,692	$    0	$40,189,110	$ 40,506,802
Real estate:
Construction loans	306,673	0	306,673	0	16,682,144	16,988,817
Commercial mortgage loans	568,127	0	568,127	0	69,491,283	70,059,410
Residential loans	4,923,435	0	4,923,435	25,187	57,484,717	62,433,339
Agricultural loans	0	0	0	0	10,169,251	10,169,251
Consumer & other loans	52,963	0	52,963	0	3,956,534	4,009,497
Total loans	$6,168,890	$   0	$6,168,890	$  25,187	$197,973,039	$204,167,116

Schedule of Impaired Loans Segragated by Class of Loans

The following table presents impaired loans, segregated by class of loans as of December 31, 2012 and 2011:

December 31, 2012	Unpaid Principal Balance	Recorded Investment With No Allowance	Recorded Investment with Allowance	Total Recorded Investment	Related Allowance	Year-to-date Average Recorded Investment	Interest Income Received During Impairment
Commercial, financial and agricultural loans	$53,634	$             0	$20,396	$20,396	$ 33,238	$     29,551	$     1,878
Real estate:
Construction loans	0	0	0	0	0	0	0
Commercial mortgage loans	588,776	182,253	336,483	518,736	70,040	341,311	29,708
Residential loans	1,536,147	0	1,399,107	1,399,107	137,040	743,770	63,470
Agricultural loans	0	0	0	0	0	0	0
Consumer & other loans	10,642	5,149	0	5,149	5,493	3,884	225
Total loans	$2,189,199	$187,402	$1,755,986	$1,943,388	$245,811	$1,118,516	$   95,281

December 31, 2011	Unpaid Principal Balance	Recorded Investment With No Allowance	Recorded Investment with Allowance	Total Recorded Investment	Related Allowance	Year-to-date Average Recorded Investment	Interest Income Received During Impairment
Commercial, financial and agricultural loans	$    97,533	$0	$66,283	$ 66,283	$ 31,250	$     24,851	$     1,169
Real estate:
Construction loans	98,961	98,961	0	98,961	0	542	0
Commercial mortgage loans	117,997	117,997	0	117,997	0	4,457,342	149,875
Residential loans	253,311	128,515	116,108	244,623	8,688	63,957	2,655
Agricultural loans	0	0	0	0	0	0	0
Consumer & other loans	0	0	0	0	0	0	0
Total loans	$  567,802	$  345,473	$  182,391	$  527,864	$  39,938	$4,546,692	$  153,699

Schedule of Troubled Debt Restructuring by Loan Class

Loans modified in a troubled debt restructuring are considered to be in default once the loan becomes 90 days past due.

	December 31 ,2012
			Under restructured terms
	Accruing	Non-accruing	#	Current	#	Default
Commercial, financial, and agricultural loans	$ 39,277	$ 0	1	$ 39,227	0	$ 0
Real estate:
Construction loans	82,171	0	0	0	1	82,171
Residential loans	0			0	0	0
Commercial mortgage loans	43,351	0	0	0	1	43,351
Agricultural loans	0	0	0	0	0	0
Consumer & other loans	33,995	0	2	12,913	3	21,082
Total TDR’s	$ 198,794	$0	3	$ 52,190	5	$146,604

	December 31 ,2011
			Under restructured terms
	Accruing	Non-accruing	#	Current	#	Default
Commercial, financial, and agricultural loans	$ 0	$ 0	0	$ 0	0	$ 0
Real estate:
Construction loans	0	0	0	0	0	0
Residential loans	0			0	0	0
Commercial mortgage loans	0	0	0	0	0	0
Agricultural loans	0	0	0	0	0	0
Consumer & other loans	39,598	0	4	39,598	0	0
Total TDR’s	$ 39,598	$0	4	$ 39,598	0	$0

Schedule of Troubled Debt Restructurings by Types of Concessions Made

The following table presents the amount of troubled debt restructurings by types of concessions made, classified separately as accrual and non-accrual at December 31, 2012 and 2011.

	December 31, 2012				December 31, 2011
	Accruing		Non-accruing		Accruing		Non-accruing
	#	Balance	#	Balance	#	Balance	#	Balance
Type of concession:
Payment modification	1	$ 39,277	0	$ 0	0	$0	0	$0
Rate reduction	4	138,435	0	0	4	39,598	0	0
Rate reduction, payment medication	3	21,082	0	0	0	0	0	0
Total	8	$ 198,794	0	$ 0	4	$ 39,598	0	$ 0

Schedule of Internal Loan Grading By Class of Loans

The following table presents internal loan grading by class of loans as of December 31, 2012:

	Commercial, Financial, and Agricultural		Construction Real Estate		Commercial Real Estate		Residential Real Estate		Agricultural Real Estate		Consumer and Other		Total
Rating:
Grade 1- Exceptional	$	320,295	$	0	$	0	$	29,588	$	0	$	292,305	$	642,188
Grade 2- Above Avg.		208,000		1,079,020		665		118,152		939,469		5,172		2,350,478
Grade 3- Acceptable		31,149,578		5,135,542		28,992,688		36,791,734		5,661,101		2,731,528		110,462,171
Grade 4- Fair		8,117,676		9,500,573		35,906,982		19,854,579		2,654,197		847,579		76,881,586
Grade 5a- Watch		471,472		967,009		1,643,198		852,787		385,412		57,009		4,376,887
Grade 5b- OAEM		13,415		0		1,685,218		681,156		454,991		35,889		2,870,669
Grade 6- Substandard		226,366		306,673		1,830,659		4,070,488		74,081		40,015		6,548,282
Grade 7- Doubtful		0		0		0		34,855		0		0		34.855
Total loans	$	40,506,802	$	16,988,817	$	70,059,410	$	62,433,339	$	10,169,251	$	4,009,497	$	204,167,116

Schedule of Changes in Allowance for Loan Losses

Changes in the allowance for loan losses are as follows:

	2012	2011	2010
Balance, January 1	$ 3,100,000	$ 2,754,614	$ 2,532,856
Provision, charged to operations	445,000	983,667	600,000
Loans charged off	( 796,852)	( 807,045)	( 682,485)
Recoveries	96,755	168,764	304,243
Balance, December 31	$ 2,844,903	$ 3,100,000	$ 2,754,614

Schedule of Allowance for Loan Losses Methodology

The following table details activity in the ALLL by class of loans for the year ended December 31,2012. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.

	Commercial,
	Financial,
	and	Construction	Commercial	Residential	Agricultural	Consumer
	Agricultural	Real Estate	Real Estate	Real Estate	Real Estate	and Other	Total
Allowance for loan losses:
Beginning balance, December 31,2011	$  392,222	$ 1,122,650	$ 1,046,827	$  365,455	$ 0	$ 172,846	$ 3,100,000
Charge-offs	285,710	248,637	9,439	241,176	0	11,890	796,852
Recoveries	59,909	0	10,716	19,283	0	6,847	96,755
Net charge-offs	225,801	248,637	(1,277)	221,893	0	5,043	700,097
Provisions charged to operations	143,525	158,040	(812)	141,041	0	3,206	445,000
Balance at end of period, December 31, 2012	$  309,946	$ 1,032,053	$ 1,047,292	$  284,603	$ 0	$ 171,009	$ 2,844,903
Ending balance - Individually evaluated for impairment	$  33,238	$    0	$  70,040	$ 137,040	$ 0	$  5,493	$ 245,811
Collectively evaluated for impairment	276,708	1,032,053	977,252	147,563	0	165,516	2,599,092
Balance at end of period	$ 309,946	$ 1,032,053	$ 1,047,292	$  284,603	$ 0	S 171,009	$ ,2,844,903
Loans:
Ending balance - Individually evaluated for impairment	$  53,634	$ 224,502	$ 1,943,134	$ 3,778,183	$ 74,081	$  10,642	$ 6,084,176
Collectively evaluated for impairment	40,453,168	16,764,315	68,116,276	58,655,156	10,095,170	3,998,855	198,082,940
Balance at end of period	$40,506,802	$16,988,817	$ 70,059,410	$62,433,339	$10,169,251	$4,009,497	$204,167,116

Impaired Loans With Specific Reserves and Recorded Balance of Related Loans

The following table is a summary of amounts included in the ALLL for the impaired loans with specific reserves and the recorded balance of the related loans.

	Year Ended December 31,
	2012	2011	2010
Allowance for loss on impaired loans	$245,811	$39,938	$ 0
Recorded balance of impaired loans	$ 2,189,199	$567,802	$ 4,500,000