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Note 2: Investments: The Following Is A Summary of The Allowance For Loan Losses As A Contra-asset Account For The Periods Presented (Tables)
 12 Months Ended
Dec. 31, 2012
Tables/Schedules  
The Following Is A Summary of The Allowance For Loan Losses As A Contra-asset Account For The Periods Presented:

 

 

Allowance for Credit Losses and Recorded Investment in Mortgage Loans

For the Years Ended December 31, 2012, and 2011

 

Commercial

Residential

Residential Construction

Total

2012

Allowance for credit losses:

Beginning balance

 $

                      -  

 $

         4,338,805

 $

            542,368

 $

           4,881,173

   Charge-offs

                      -  

          (560,699)

          (514,442)

         (1,075,141)

   Provision

                      -  

            415,568

              18,261

              433,829

Ending balance

 $

                      -  

 $

         4,193,674

 $

              46,187

 $

           4,239,861

Ending balance: individually evaluated for impairment

 $

                      -  

 $

            692,199

 $

                      -  

 $

              692,199

Ending balance: collectively evaluated for impairment

 $

                      -  

 $

         3,501,475

 $

              46,187

 $

           3,547,662

Ending balance: loans acquired with deteriorated credit quality

 $

                      -  

 $

                      -  

 $

                      -  

 $

                        -  

Mortgage loans:

Ending balance

 $

       34,956,031

 $

       50,584,923

 $

         3,161,112

 $

         88,702,066

Ending balance: individually evaluated for impairment

 $

                      -  

 $

         4,692,517

 $

         1,346,126

 $

           6,038,643

Ending balance: collectively evaluated for impairment

 $

       34,956,031

 $

       45,892,406

 $

         1,814,986

 $

         82,663,423

Ending balance: loans acquired with deteriorated credit quality

 $

                      -  

 $

                      -  

 $

                      -  

 $

                        -  

2011

Allowance for credit losses:

Beginning balance

 $

                      -  

 $

         6,212,072

 $

            858,370

 $

           7,070,442

   Charge-offs

                      -  

       (2,994,715)

          (430,274)

         (3,424,989)

   Provision

                      -  

         1,121,448

            114,272

           1,235,720

Ending balance

 $

                      -  

 $

         4,338,805

 $

            542,368

 $

           4,881,173

Ending balance: individually evaluated for impairment

 $

                      -  

 $

            738,975

 $

            250,524

 $

              989,499

Ending balance: collectively evaluated for impairment

 $

                      -  

 $

         3,599,830

 $

            291,844

 $

           3,891,674

Ending balance: loans acquired with deteriorated credit quality

 $

                      -  

 $

                      -  

 $

                      -  

 $

                        -  

Mortgage loans:

Ending balance

 $

       48,433,147

 $

       54,344,327

 $

       17,259,666

 $

       120,037,140

Ending balance: individually evaluated for impairment

 $

         2,758,235

 $

         4,611,995

 $

         5,645,865

 $

         13,016,095

Ending balance: collectively evaluated for impairment

 $

       45,674,912

 $

       49,732,332

 $

       11,613,801

 $

       107,021,045

Ending balance: loans acquired with deteriorated credit quality

 $

                      -  

 $

                      -  

 $

                      -  

 $

                        -