SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2012

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of the range of estimated useful lives for premises and equipment

Buildings and improvements	5-40 years
Furniture and equipment	3-10 years

Summary of transactions in other real estate owned

	Years Ended December 31,
	2012			2011
Balance—beginning of year	$	10,075,837		$	9,109,603
Additions		4,660,558			5,747,670
Sales		(4,074,188	)		(3,522,834	)
Write downs		(2,467,252	)		(1,258,602	)
Balance—end of year	$	8,194,955		$	10,075,837

Schedule of intangible assets

	December 31, 2012				December 31, 2011
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Unamortized intangible asset:
Goodwill	$	362,139	$	—	$	362,139	$	—
Amortized intangible asset:
Core deposit intangibles	$	3,676,106	$	2,142,372	$	3,676,106	$	1,670,454

Schedule of aggregate amortization expense

	For the Years Ended December 31,
	2012		2011		2010
Aggregate amortization expense of core deposit intangibles	$	471,918	$	471,918	$	489,665
Estimated aggregate amortization expense of core deposit intangibles for the year ending December 31:
2013	$	471,918
2014	$	471,918
2015	$	471,918
2016 and thereafter	$	117,980