4. Investment Securities (Tables)

9 Months Ended

Sep. 30, 2012

Notes to Financial Statements

Schedule Of Available For Sale Securities

Securities available-for-sale (AFS) and held-to-maturity (HTM) as of the balance sheet dates consisted of the following:

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
Securities AFS	Cost		Gains		Losses		Value
September 30, 2012
U.S. Government sponsored enterprise (GSE) debt securities	$	39,423,142	$	419,253	$	2,610	$	39,839,785
U.S. Government securities		7,082,906		35,050		300		7,117,656
U.S. GSE preferred stock		42,360		9,017		0		51,377
	$	46,548,408	$	463,320	$	2,910	$	47,008,818
December 31, 2011
U.S. GSE debt securities	$	60,846,954	$	215,595	$	99,310	$	60,963,239
U.S. Government securities		5,006,979		37,424		848		5,043,555
U.S. GSE preferred stock		42,360		49,763		0		92,123
	$	65,896,293	$	302,782	$	100,158	$	66,098,917
September 30, 2011
U.S. GSE debt securities	$	26,224,330	$	187,825	$	52,705	$	26,359,450
U.S. Government securities		5,010,100		35,350		0		5,045,450
U.S. GSE preferred stock		42,360		86,015		0		128,375
	$	31,276,790	$	309,190	$	52,705	$	31,533,275

Schedule Of Held to Maturity Securities

			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
Securities HTM	Cost		Gains		Losses		Value*
September 30, 2012
States and political subdivisions	$	50,065,653	$	565,347	$	0	$	50,631,000
December 31, 2011
States and political subdivisions	$	29,702,159	$	586,841	$	0	$	30,289,000
September 30, 2011
States and political subdivisions	$	36,898,097	$	498,903	$	0	$	37,397,000

Schedule of Maturities of Debt Securities Available for Sale

The scheduled maturities of debt securities AFS were as follows:

	Amortized		Fair
	Cost		Value
September 30, 2012
Due in one year or less	$	3,003,306	$	3,013,511
Due from one to five years		43,502,742		43,943,930
	$	46,506,048	$	46,957,441
December 31, 2011
Due in one year or less	$	5,018,549	$	5,035,711
Due from one to five years		58,835,384		58,970,925
Due from five to ten years		2,000,000		2,000,158
	$	65,853,933	$	66,006,794
September 30, 2011
Due in one year or less	$	8,031,513	$	8,060,834
Due from one to five years		22,202,917		22,352,436
Due from five to ten years		1,000,000		991,630
	$	31,234,430	$	31,404,900

Schedule Of Maturities of Debt Securities Held to Maturity

The scheduled maturities of debt securities HTM were as follows:

	Amortized		Fair
	Cost		Value*
September 30, 2012
Due in one year or less	$	40,302,625	$	40,303,000
Due from one to five years		4,041,285		4,183,000
Due from five to ten years		2,286,741		2,428,000
Due after ten years		3,435,002		3,717,000
	$	50,065,653	$	50,631,000
December 31, 2011
Due in one year or less	$	20,589,247	$	20,589,000
Due from one to five years		4,534,944		4,682,000
Due from five to ten years		822,735		969,000
Due after ten years		3,755,233		4,049,000
	$	29,702,159	$	30,289,000
September 30, 2011
Due in one year or less	$	27,402,959	$	27,403,000
Due from one to five years		4,902,641		5,027,000
Due from five to ten years		749,063		874,000
Due after ten years		3,843,434		4,093,000
	$	36,898,097	$	37,397,000

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*Method used to determine fair value on HTM securities rounds values to nearest thousand.

Schedule Of Unrealized Loss

There were no debt securities HTM in an unrealized loss position as of the balance sheet date.  Debt securities AFS with unrealized losses as of the balance sheet dates are presented in the table below.

	Less than 12 months				12 months or more				Total
	Fair		Unrealized		Fair		Unrealized		Fair		Unrealized
	Value		Loss		Value		Loss		Value		Loss
September 30, 2012
U.S. GSE debt securities	$	0	$	0	$	1,512,667	$	2,610	$	1,512,667	$	2,610
U.S. Government securities		1,057,928		300		0		0		1,057,928		300
	$	1,057,928	$	300	$	1,512,667	$	2,610	$	2,570,595	$	2,910
December 31, 2011
U.S. GSE debt securities	$	29,940,644	$	99,310	$	0	$	0	$	29,940,644	$	99,310
U.S. Government securities		999,766		848		0		0		999,766		848
	$	30,940,410	$	100,158	$	0	$	0	$	30,940,410	$	100,158
September 30, 2011
U.S. GSE debt securities	$	7,046,617	$	52,705	$	0	$	0	$	7,046,617	$	52,705
U.S. Government securities		0		0		0		0		0		0
	$	7,046,617	$	52,705	$	0	$	0	$	7,046,617	$	52,705