FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2012

Investments, All Other Investments [Abstract]

Fair Value, by Balance Sheet Grouping [Table Text Block]

At December 31, 2012					Fair Value Measurements
Description of Asset	Carrying Amount		Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Investment securities - AFS	$	47,205,663	$	47,205,663	$	-	$	47,205,663	$	-
Investment securities - HTM		112,619,434		114,187,018		749,941		113,437,077		-
Federal Home Loan Bank and Federal Reserve Stock		5,476,050		5,469,000		-		5,469,000		-
Loans		747,640,752		757,387,000		-		757,387,000		-
Other real estate owned		6,891,353		6,891,353		-		6,891,353		-
Liabilities
Savings, NOW and money market accounts	$	414,776,285	$	414,776,285	$	-	$	414,776,285	$	-
Time deposits		405,454,003		410,257,000		-		410,257,000		-
Long-term debt		60,527,208		64,252,000		-		64,252,000		-
Short term borrowings		1,000,000		1,000,000		-		1,000,000		-
Guaranteed preferred beneficial interest in junior subordinated debentures		12,000,000		2,400,000		-		2,400,000		-

At December 31, 2011					Fair Value Measurements
Description of Asset	Carrying Amount		Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Investment securities - AFS	$	41,827,612	$	41,827,612	$	-	$	41,827,612	$	-
Investment securities - HTM		153,516,839		154,030,993		749,951		153,281,042		-
Federal Home Loan Bank and Federal Reserve Stock		5,587,000		5,624,000		-		5,624,000		-
Loans		710,088,775		726,238,000		-		726,238,000		-
Other real estate owned		5,028,513		5,028,513		-		5,028,513		-
Liabilities
Savings, NOW and money market accounts	$	371,737,480	$	371,737,480	$	-	$	371,737,480	$	-
Time deposits		455,515,721		462,192,000		-		462,192,000		-
Long-term debt		60,576,595		61,353,000		-		61,353,000		-
Guaranteed preferred beneficial interest in junior subordinated debentures		12,000,000		2,400,000		-		2,400,000		-