Fair Value Measurements and Disclosures (Tables)

12 Months Ended

Dec. 31, 2012

Fair Value Disclosures [Abstract]

Schedule of Assets Recorded at Fair Value on a Recurring Basis

The table below presents the recorded amount of assets measured at fair value on a recurring basis of December 31, 2012, 2011, and 2010.

December 31, 2012	Level 1	Level 2	Level 3	Total
Investment securities available for sale:
U,S, Government Agency securities	$ 0	$ 8,944,012	$ 0	$ 8,944,012
State and municipal securities	0	2,180,028	0	2,180,028
Residential mortgage-backed securities	0	10,414,400	0	10,414,400
Equity securities	133,600	0	0	133,600
Total	$ 133,600	$ 21,538,440	$ 0	$ 21,672,040
December 31,2011	Level 1	Level 2	Level 3	Total
Investment securities available for sale:
State and municipal securities	$ 0	$ 2,841,597	$ 0	$ 2,841,597
Residential mortgage-backed securities	0	25,688,835	0	25,688,835
Equity securities	110,400	0	0	110,400
Total	$ 110,400	$ 28,530,432	$ 0	$ 28,640,832
December 31,2010	Level 1	Level 2	Level 3	Total
Investment securities available for sale:
U,S, Government Treasury securities	$ 0	$ 10,633,530	$ 0	$ 10,633,530
State and municipal securities	0	5,845,751	0	5,845,751
Residential mortgage-backed securities	0	38,398,839	0	38,398,839
Equity securities	67,801	0	0	67,801
Total	$ 67,801	$ 54,878,120	$ 0	$ 54,945,921

Schedule of Fair Value of Assets Recorded on a Nonrecurring Basis

Assets measured at fair value on a nonrecurring basis are included in the table below as of December 31, 2012 and 2011.

December 31, 2012	Level 1	Level 2	Level 3	Total
Foreclosed assets	$ 0	$ 1,689,861	$ 0	$ 1,689,861
Impaired loans	0	2,189,199	0	2,189,199
Total assets at fair value	$ 0	$ 3,879,060	$ 0	$ 3,879,060
December 31, 2011	Level 1	Level 2	Level 3	Total
Foreclosed assets	$ 0	$ 2,357,695	$ 0	$ 2,357,695
Impaired loans	0	567,802	0	567,802
Total assets at fair value	$ 0	$ 2,925,497	$0	$2,925,497

Schedule of Carrying and Estimated Fair Value of Assets and Liabilities Recorded at Fair Value

The carrying amount and estimated fair values of the Corporation’s assets and liabilities which are required to be either disclosed or recorded at fair value at December 31, 2012 and 2011 are as follows:

	December 31, 2012		December 31,2011
	Carrying	Estimated	Carrying	Estimated
	Amount	Fair Value	Amount	Fair Value
	(Dollars in	thousands)	(Dollars in	thousands)
Assets:
Cash and cash equivalents	$ 40,501	$ 40,501	$ 22,030	$ 22,030
Investment securities available for sale	21,672	21,672	28,641	28,641
Investment securities held to maturity	59,863	62,084	52,339	54,159
Federal Home Loan Bank stock	1,448	1,448	1,787	1,787
Loans	$201,292	$199,801	$178,202	$177,178
Liabilities:
Deposits	$291,762	$292,138	$248,911	$249,211
Federal funds purchased	0	0	0	0
FHLB advances	$ 22,000	$ 22,648	$ 24,000	$ 25,130

Schedule of Carrying and Estimated Fair Value of Assets and Liabilities

The carrying amount and estimated fair values of the Corporation’s assets and liabilities are follows:

	Carrying
December 31, 2012	Amount	Level 1	Level 2	Level 3	Total
		(Dollars in thousands)
Assets:
Loans, net	$201,292	$ 0	$ 199,801	$ 0	$ 199,801
Liabilities:
Deposits	291,762	0	292,138	0	292,138
FHLB advances	$ 22,000	$ 0	$ 22,648	$ 0	$ 22,648
	Carrying
December 31, 2011	Amount	Level 1	Level 2	Level 3	Total
		(Dollars in thousands)
Assets:
Loans, net	$178,202	$ 0	$ 177,178	$ 0	$ 177,178
Liabilities:
Deposits	248,911	0	249,211	0	249,211
FHLB advances	$ 24,000	$ 0	$ 25,130	$ 0	$ 25,130