Investment Securities (Tables)

9 Months Ended

Sep. 30, 2013

Schedule of Investments [Abstract]

Schedule of Securities Available for Sale Securities

The amortized cost of securities as shown in the consolidated balance sheets and their estimated fair values at September 30, 2013, and December 31, 2012, were as follows:

Securities Available For Sale:

September 30, 2013	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
U.S. Government Agency securities	$	20,073,762	$	0	$	695,582	$	19,378,180
State and municipal securities		1,533,198		9,327		138,524		1,404,001
Residential mortgage-backed securities		9,108,574		427,155		37,222		9,498,507
Corporate notes		2,495,195		0		30,970		2,464,225
Total debt securities AFS		33,210,729		436,482		902,298		32,744,913
Equity securities		174,549		292,651		0		467,200
Total securities AFS	$	33,385,278	$	729,133	$	902,298	$	33,212,113

December 31, 2012	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
U.S. Government Agency securities	$	8,953,767	$	13,125	$	22,880	$	8,944,012
State and municipal securities		2,141,634		58,291		19,897		2,180,028
Residential mortgage-backed securities		9,737,393		677,007		0		10,414,400
Total debt securities AFS		20,832,794		748,423		42,777		21,538,440
Equity securities		174,549		0		40,949		133,600
Total securities AFS	$	21,007,343	$	748,423	$	83,726	$	21,672,040

Schedule of Securities Held to Maturity

Securities Held to Maturity:

September 30, 2013	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
State and municipal securities	$	48,842,479	$	595,818	$	453,181	$	48,985,116
Residential mortgage-backed securities		11,548,366		415,411		0		11,963,777
Total securities HTM	$	60,390,845	$	1,011,229	$	453,181	$	60,948,893

December 31, 2012	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
State and municipal securities	$	44,173,630	$	1,511,179	$	38,955	$	45,645,854
Residential mortgage-backed securities		15,689,859		748,606		0		16,438,465
Total securities HTM	$	59,863,489	$	2,259,785	$	38,955	$	62,084,319

Schedule of Information Pertaining to Securities Gross Unrealized Losses by Investments

Information pertaining to securities with gross unrealized losses aggregated by investment category and length of time that individual securities have been in continuous loss position, follows:

September 30, 2013	Less Than Twelve Months				Twelve Months or More
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
Securities Available for Sale
Temporarily impaired debt securities:
U.S. Government Agency securities	$	695,582	$	19,378,180	$	0	$	0
State and municipal securities		0		0		138,524		749,674
Residential mortgage-backed securities		37,222		728,980		0		0
Corporate notes		30,970		2,464,225		0		0
Total debt securities AFS		763,774		22,571,385		138,524		749,674
Temporarily impaired equity securities		0		0		0		0
Other-than-temporarily impaired equity securities		0		0		0		0
Total securities available for sale	$	763,774	$	22,571,385	$	138,524	$	749,674
Securities Held to Maturity
Temporarily impaired debt securities:
State and municipal securities	$	448,814	$	24,296,695	$	4,367	$	945,389
Residential mortgage-backed securities		0		0		0		0
Total securities held to maturity	$	448,814	$	24,296,695	$	4,367	$	945,389

December 31, 2012	Less Than Twelve Months				Twelve Months or More
	Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value
Securities Available for Sale
Temporarily impaired debt securities:
U.S. Government Agency securities	$	22,880	$	5,977,120	$	0	$	0
State and municipal securities		19,897		872,738		0		0
Residential mortgage-backed securities		0		0		0		0
Total debt securities AFS		42,777		6,849,858		0		0
Temporarily impaired equity securities		0		0		40,949		133,600
Other-than-temporarily impaired equity securities		0		0		0		0
Total securities available for sale	$	42,777	$	6,849,858	$	40,949	$	133,600
Securities Held to Maturity
Temporarily impaired debt securities:
State and municipal securities	$	38,955	$	7,908,608	$	0	$	0
Residential mortgage-backed securities		0		0		0		0
Total securities held to maturity	$	38,955	$	7,908,608	$	0	$	0