Fair Value Measurements and Disclosures (Tables)

12 Months Ended

Dec. 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 December 31, 2013, 2012, and 2011.

December 31, 2013	Level 1		Level 2		Level 3		Total
Investment securities available for sale:
U.S. Government Agency securities	$	0	$	23,580,234	$	0	$	23,580,234
State and municipal securities		0		1,440,379		0		1,440,379
Residential mortgage-backed securities		0		8,795,491		0		8,795,491
Corporate notes		0		2,469,515		0		2,469,515
Equity securities		175,149		0		0		175,149
Total	$	175,149	$	36,285,619	$	0	$	36,460,768

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		2,780,028		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

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, 2013 and 2012.

December 31, 2013	Level 1		Level 2		Level 3		Total
Foreclosed assets	$	0	$	0	$	0	$	405,508
Impaired loans		0		0		2,781,555		2,781,555
Total assets at fair value	$	0	$	0	$	2,781,555	$	3,187,063

December 31, 2012	Level 1		Level 2		Level 3		Total
Foreclosed assets	$	0	$	0	$	0	$	1,689,861
Impaired loans		0		0		2,189,199		2,189,199
Total assets at fair value	$	0	$	0	$	2,189,199	$	3,879,060

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, 2013 and 2012 are as follows:

	December 31, 2013				December 31, 2012
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
	(Dollars in thousands)				(Dollars in thousands)
Assets:
Cash and cash equivalents	$38,800		$38,800		$40,501		$40,501
Investment securities available for sale		36,461		36,461		21,672		21,672
Investment securities held to maturity		59,624		60,019		59,863		62,084
Federal Home Loan Bank stock		1,721		1,721		1,448		1,448
Loans	$	215,610	$	216,505	$	201,292	$	199,801
Liabilities:
Deposits	$	310,435	$	310,658	$	291,762	$	292,138
Federal funds purchased		0		0		0		0
FHLB advances	$	29,000	$	29,572	$	22,000	$	22,648

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 as follows:

December 31, 2013	Carrying Amount		Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Assets:
Loans, net	$215,610		$0		$216,505		$0		$216,505
Liabilities:
Deposits		310,435		0		310,658		0		310,658
FHLB advances	$	29,000	$	0	$	29,572	$	0	$	29,572

December 31, 2012	Carrying 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