INVESTMENT SECURITIES (Tables)

12 Months Ended

Dec. 31, 2012

INVESTMENT SECURITIES

Schedule of investment securities available for sale

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
At December 31, 2012:
State, county, and municipal securities	$	36,977,202	$	2,886,607	$	—	$	39,863,809
Mortgage-backed securities		79,025,394		1,356,627		134,482		80,247,539
Corporate securities		9,745,591		135,093		126,508		9,754,176
Totals	$	125,748,187	$	4,378,327	$	260,990	$	129,865,524
At December 31, 2011:
State, county, and municipal securities	$	42,640,465	$	3,268,872	$	1,028	$	45,908,309
Mortgage-backed securities		67,940,959		1,405,456		116,957		69,229,458
Corporate securities		9,684,599		—		579,903		9,104,696
Totals	$	120,266,023	$	4,674,328	$	697,888	$	124,242,463

Schedule of investment securities held to maturity

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
At December 31, 2012:
State, county, and municipal securities	$	1,356,119	$	23,796	$	—	$	1,379,915
At December 31, 2011:
State, county, and municipal securities	$	3,292,492	$	83,898	$	—	$	3,376,390
Mortgage-backed securities		1,477		21		—		1,498
Totals	$	3,293,969	$	83,919	$	—	$	3,377,888

Schedule of amortized costs and fair values of investment securities, by contractual maturity

	Held to Maturity				Available for Sale
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in one year or less	$	—	$	—	$	—	$	—
Due after one year through five years		1,356,119		1,379,915		11,984,224		12,120,343
Due after five years through ten years		—		—		25,545,639		27,134,326
Due after ten years		—		—		88,218,324		90,610,855
	$	1,356,119	$	1,379,915	$	125,748,187	$	129,865,524

Schedule of investments' gross unrealized losses and fair value, aggregated by investment category and length of time

At December 31, 2012:

Securities Available for Sale

	Securities in a loss position for less than twelve months					Securities in a loss position for twelve months or more					Total
	Fair value		Unrealized losses			Fair value		Unrealized losses			Fair value		Unrealized losses
Mortgage-backed securities	$	17,834,180	$	(134,482	)	$	—	$	—		$	17,834,180	$	(134,482	)
Corporate securities		1,984,687		(15,313	)		3,888,804		(111,195	)		5,873,491		(126,508	)
Total	$	19,818,867	$	(149,795	)	$	3,888,804	$	(111,195	)	$	23,707,671	$	(260,990	)

At December 31, 2011:

Securities Available for Sale

	Securities in a loss position for less than twelve months					Securities in a loss position for twelve months or more					Total
	Fair value		Unrealized losses			Fair value		Unrealized losses			Fair value		Unrealized losses
Municipal securities	$	—	$	—		$	188,972	$	(1,028	)	$	188,972	$	(1,028	)
Mortgage-backed securities		16,456,324		(85,695	)		2,180,154		(31,262	)		18,636,478		(116,957	)
Corporate securities		5,226,732		(457,867	)		3,877,964		(122,036	)		9,104,696		(579,903	)
Total	$	21,683,056	$	(543,562	)	$	6,247,090	$	(154,326	)	$	27,930,146	$	(697,888	)