Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2013

Fair Value Disclosures [Abstract]

Schedule of Assets Measured 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 September 30, 2013.

	Level 1		Level 2		Level 3		Total
Investment securities available for sale:
U.S. Government Agency securities	$	0	$	19,378,180	$	0	$	19,378,180
State and municipal securities		0		1,404,001		0		1,404,001
Residential mortgage-backed securities		0		9,498,507		0		9,498,507
Corporate notes		0		2,464,225		0		2,464,225
Equity securities		467,200		0		0		467,200
Total	$	467,200	$	32,744,913	$	0	$	33,212,113

Schedule of Fair Value of Assets Measured on a Nonrecurring Basis

Assets measured at fair value on a nonrecurring basis are included in the table below as of September 30, 2013.

	Level 1		Level 2		Level 3		Total
Foreclosed assets	$	0	$	581,287	$	0	$	581,287
Impaired loans		0		2,833,051		0		2,833,051
Total assets at fair value	$	0	$	3,414,338	$	0	$	3,414,338

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 September 30, 2013, and December 31, 2012, are as follows:

			Estimated Fair Value
September 30, 2013	Carrying Amount		Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Assets:
Cash and cash equivalents	$	32,492	$	32,492	$	0	$	0	$	32,492
Certificates of deposit in other banks		4,165		4,165		0		0		4,165
Investment securities available for sale		33,212		467		32,745		0		33,212
Investment securities held to maturity		60,391		0		60,949		0		60,949
Federal Home Loan Bank stock		1,721		0		1,721		0		1,721
Loans, net		218,393		0		220,077		0		220,077
Liabilities:
Deposits		308,657		0		308,935		0		308,935
FHLB advances		29,000		0		29,678		0		29,678

			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