Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2013

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 as of March 31, 2013.

	Level 1		Level 2		Level 3		Total
Investment securities available for sale:
U.S. Government Agency securities	$	0	$	20,077,775	$	0	$	20,077,775
State and municipal securities		0		1,528,740		0		1,528,740
Residential mortgage-backed securities		0		9,343,000		0		9,343,000
Equity securities		260,000		0		0		260,000
Total	$	260,000	$	30,949,515	$	0	$	31,209,515

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 March 31, 2013.

	Level 1		Level 2		Level 3		Total
Foreclosed assets	$	0	$	1,524,156	$	0	$	1,524,156
Impaired loans		0		2,957,648		0		2,957,648
Total assets at fair value	$	0	$	4,481,804	$	0	$	4,481,804

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 which are required to be either disclosed or recorded at fair value at March 31, 2013, and December 31, 2012, are as follows:

			Estimated Fair Value
March 31, 2013	Carrying Amount		Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Assets:
Cash and cash equivalents	$	40,291	$	40,291	$	0	$	0	$	40,291
Certificates of deposit in other banks		4,165		4,165		0		0		4,165
Investment securities available for sale		31,210		260		30,950		0		31,210
Investment securities held to maturity		61,968		0		64,056		0		64,056
Federal Home Loan Bank stock		1,406		0		1,406		0		1,406
Loans, net		204,816		0		202,315		0		202,315
Liabilities:
Deposits		310,657		0		310,956		0		310,956
FHLB advances	$	22,000	$	0	$	22,505	$	0	$	22,505

			Estimated Fair Value
December 31, 2012	Carrying Amount		Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Assets:
Cash and cash equivalents	$	36,581	$	36,581	$	0	$	0	$	36,581
Certificates of deposit in other banks		3,920		3,920		0		0		3,920
Investment securities available for sale		21,672		134		21,538		0		21,672
Investment securities held to maturity		59,863		0		62,084		0		62,084
Federal Home Loan Bank stock		1,448		0		1,448		0		1,448
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