Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2012

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Long-term debt at December 31, 2012 and 2011 consisted of the following:

	2012	2011
Advance from FHLB with a 2.79% fixed rate of interest maturing July 29, 2013.(transferred to short-term borrowings)	$                0	$  2,000,000
Advance from FHLB with a 3.85% fixed rate of interest maturing April 30, 2014.	10,000,000	10,000,000
Advance from FHLB with a 3.39% fixed rate of  interest maturing August 20, 2018.  (convertible to a variable rate at quarterly options of FHLB – no conversion option has been made).	5,000,000	5,000,000
Advance from FHLB with a 2.78% fixed rate of interest maturing September 10, 2018.  (convertible to a variable rate at quarterly options of FHLB – no conversion option has been made).	5,000,000	5,000,000
Total long-term debt	$20,000,000	$22,000,000

Summary of Maturities of Long-Term Debt

The Bank has the ability to hold this debt until conversion and the means of repayment.

Due in:	Fixed Rate Amount
2013	$               0
2014	10,000,000
2015	0
2016	0
2017	0
Later Years	10,000,000*
Total long-term debt	$20,000,000

*Fixed rate advances with convertible options