Fair Value Measurements and Disclosures (Tables)

6 Months Ended

Jun. 30, 2014

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 June 30, 2014 and December 31, 2013.

June 30, 2014		Level 1		Level 2		Level 3		Total
Investment securities available for sale:
U.S. Government Agency securities	$	0	$	41,564,412	$	0	$	41,564,412
State and municipal securities		0		858,423		0		858,423
Residential mortgage-backed securities		0		7,769,831		0		7,769,831
Corporate notes		0		2,498,005		0		2,498,005
Total	$	0	$	52,690,671	$	0	$	52,690,671

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

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 June30, 2014 and December 31, 2013.

June 30, 2014		Level 1		Level 2		Level 3		Total
Foreclosed assets	$	0	$	0	$	437,736	$	437,736
Impaired loans		0		0		4,428,210		4,428,210
Total assets at fair value	$	0	$	0	$	4,865,946	$	4,865,946

December 31, 2013		Level 1		Level 2		Level 3		Total
Foreclosed assets	$	0	$	0	$	405,508	$	405,508
Impaired loans		0		0		2,528,057		2,528,057
Total assets at fair value	$	0	$	0	$	2,933,565	$	2,933,565

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 June 30, 2014, and December 31, 2013, are as follows:

			Estimated Fair Value
June 30, 2014	Carrying Amount		Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Assets:
Cash and cash equivalents	$	13,220	$	13,220	$	0	$	0	$	13,220
Certificates of deposit in other banks		3,430		3,430		0		0		3,430
Investment securities available for sale		52,691		0		52,691		0		52,691
Investment securities held to maturity		58,429		0		59,768		0		59,768
Federal Home Loan Bank stock		1,506		0		1,506		0		1,506
Loans, net		224,146		0		218,406		4,428		222,834
Liabilities:
Deposits		313,818		0		314,122		0		314,122
FHLB advances		26,000		0		26,357		0		26,357

			Estimated Fair Value
December 31, 2013	Carrying Amount		Level 1		Level 2		Level 3		Total
	(Dollars in thousands)
Assets:
Cash and cash equivalents	$	35,370	$	35,370	$	0	$	0	$	35,370
Certificates of deposit in other banks		3,430		3,430		0		0		3,430
Investment securities available for sale		36,461		175		36,286		0		36,461
Investment securities held to maturity		59,624		0		60,019		0		60,019
Federal Home Loan Bank stock		1,721		0		1,721		0		1,721
Loans, net		215,610		0		213,977		2,528		216,505
Liabilities:
Deposits		310,435		0		310,658		0		310,658
FHLB advances		29,000		0		29,572		0		29,572