LOANS (Tables)

3 Months Ended

Mar. 31, 2013

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

Loans consist of the following:

	March 31, 2013		December 31, 2012
Commercial real estate	$	417,405,318	$	419,667,312
Residential first mortgages		169,088,653		177,663,354
Construction and land development		31,061,899		31,818,782
Home equity and second mortgage		21,578,772		21,982,375
Commercial loans		88,045,436		88,157,606
Consumer loans		1,022,981		995,206
Commercial equipment		15,728,491		16,267,684
		743,931,550		756,552,319
Less:
Deferred loan fees		663,030		664,610
Allowance for loan loss		8,350,000		8,246,957
		9,013,030		8,911,567
	$	734,918,520	$	747,640,752

Allowance for Credit Losses on Financing Receivables [Table Text Block]

The loan receivables are disaggregated on the basis of the Company’s impairment methodology.

	Commercial Real Estate			Residential First Mortgage			Construction and Land  Development			Home Equity and Second Mtg.		Commercial Loans			Consumer Loans			Commercial Equipment			Total
At and For the Three Months Ended March 31, 2013
Allowance for loan losses:
Balance at January 1,	$	4,089,834		$	1,083,228		$	533,430		$	279,819	$	1,949,024		$	19,341		$	292,281		$	8,246,957
Charge-offs		-			(58,840	)		(35,903	)		-		-			(8,976	)		-			(103,719	)
Recoveries		-			992			-			-		992			992			49,613			52,589
Provisions		(549,904	)		959,785			(449	)		38,452		(126,476	)		5,729			(172,964	)		154,173
Balance at March 31,	$	3,539,930		$	1,985,165		$	497,078		$	318,271	$	1,823,540		$	17,086		$	168,930		$	8,350,000
Ending balance: individually evaluated for impairment	$	767,349		$	444,028		$	-		$	39,800	$	307,930		$	-		$	24,703		$	1,583,810
Ending balance: collectively  evaluated for impairment	$	2,772,581		$	1,541,137		$	497,078		$	278,471	$	1,515,610		$	17,086		$	144,227		$	6,766,190
Loan receivables:
Ending balance	$	417,405,318		$	169,088,653		$	31,061,899		$	21,578,772	$	88,045,436		$	1,022,981		$	15,728,491		$	743,931,550
Ending balance: individually evaluated for impairment	$	22,599,139		$	5,137,875		$	4,621,596		$	482,502	$	9,107,430		$	46,664		$	220,206		$	42,215,412
Ending balance: collectively  evaluated for impairment	$	394,806,179		$	163,950,778		$	26,440,303		$	21,096,270	$	78,938,006		$	976,317		$	15,508,285		$	701,716,138

	Commercial Real Estate			Residential First Mortgage			Construction and Land  Development			Home Equity and Second Mtg.			Commercial Loans			Consumer  Loans			Commercial Equipment			Total
At and For the Year Ended December 31, 2012
Allowance for loan losses:
Balance at January 1,	$	2,525,199		$	539,205		$	354,385		$	143,543		$	3,850,294		$	19,119		$	223,296		$	7,655,041
Charge-offs		(486,431	)		(10,987	)		(140,835	)		(210,753	)		(1,003,824	)		(4,994	)		(168,802	)		(2,026,626	)
Recoveries		-			37,524			-			-			51,350			987			-			89,861
Provisions		2,051,066			517,486			319,880			347,029			(948,796	)		4,229			237,787			2,528,681
Balance at December 31,	$	4,089,834		$	1,083,228		$	533,430		$	279,819		$	1,949,024		$	19,341		$	292,281		$	8,246,957
Ending balance: individually evaluated for impairment	$	785,878		$	403,475		$	-		$	-		$	353,883		$	-		$	4,421		$	1,547,657
Ending balance: collectively evaluated for impairment	$	3,303,956		$	679,753		$	533,430		$	279,819		$	1,595,141		$	19,341		$	287,860		$	6,699,300
Loan receivables:
Ending balance	$	419,667,312		$	177,663,354		$	31,818,782		$	21,982,375		$	88,157,606		$	995,206		$	16,267,684		$	756,552,319
Ending balance: individually evaluated for impairment	$	21,618,890		$	3,367,827		$	4,877,868		$	291,000		$	8,778,681		$	51,748		$	4,421		$	38,990,435
Ending balance: collectively  evaluated for impairment	$	398,048,422		$	174,295,527		$	26,940,914		$	21,691,375		$	79,378,925		$	943,458		$	16,263,263		$	717,561,884

	Commercial Real Estate			Residential First Mortgage		Construction and Land  Development		Home Equity and Second Mtg.		Commercial Loans			Consumer  Loans			Commercial Equipment		Total
At and For the Three Months Ended March 31, 2012
Allowance for loan losses:
Balance at January 1,	$	2,525,199		$	539,205	$	354,385	$	143,543	$	3,850,294		$	19,119		$	223,296	$	7,655,041
Charge-offs		(36,452	)		-		-		-		(43,349	)		(985	)		-		(80,786	)
Recoveries		-			-		-		-		469			-			-		469
Provisions		896,289			104,803		94,021		121,595		(1,014,365	)		216			138,515		341,074
Balance at March 31,	$	3,385,036		$	644,008	$	448,406	$	265,138	$	2,793,049		$	18,350		$	361,811	$	7,915,798
Ending balance: individually  evaluated for impairment	$	788,146		$	113,000	$	100,000	$	89,540	$	892,200		$	-		$	150,010	$	2,132,896
Ending balance: collectively  evaluated for impairment	$	2,596,890		$	531,008	$	348,406	$	175,598	$	1,900,849		$	18,350		$	211,801	$	5,782,902
Loan receivables:
Ending balance	$	387,062,534		$	171,910,733	$	36,254,152	$	23,455,588	$	93,410,257		$	960,745		$	18,567,449	$	731,621,458
Ending balance: individually  evaluated for impairment	$	39,662,243		$	5,725,407	$	10,915,597	$	463,601	$	18,451,306		$	74,928		$	237,977	$	75,531,059
Ending balance: collectively  evaluated for impairment	$	347,400,291		$	166,185,326	$	25,338,555	$	22,991,987	$	74,958,951		$	885,817		$	18,329,472	$	656,090,399

Schedule of Financing Receivables, Non Accrual Status [Table Text Block]

Non-accrual loans as of March 31, 2013 and December 31, 2012 were as follows:

	March 31, 2013
	90 or Greater Days Delinquent		Number  of Loans		Nonacccrual Performing Loans		Number  of Loans		Total Dollars		Total Number  of Loans
Commercial real estate	$	2,556,284		8	$	3,750,389		2	$	6,306,673		10
Residential first mortgages		2,876,028		9		565,091		3		3,441,119		12
Construction and land development		-		-		-		-		-		-
Home equity and second mortgage		187,502		5		-		-		187,502		5
Commercial loans		3,668,718		11		-		-		3,668,718		11
Consumer loans		-		-		46,664		1		46,664		1
Commercial equipment		216,383		4		-		-		216,383		4
	$	9,504,915		37	$	4,362,144		6	$	13,867,059		43

	December 31, 2012
	90 or Greater Days Delinquent		Number  of Loans		Nonacccrual Performing Loans		Number  of Loans		Total Dollars		Total Number  of Loans
Commercial real estate	$	1,527,844		7	$	3,802,947		2	$	5,330,791		9
Residential first mortgages		3,169,404		10		569,693		3		3,739,097		13
Construction and land development		-		-		-		-		-		-
Home equity and second mortgage		71,296		2		-		-		71,296		2
Commercial loans		3,732,090		11		-		-		3,732,090		11
Consumer loans		-		-		51,748		1		51,748		1
Commercial equipment		216,383		4		-		-		216,383		4
	$	8,717,017		34	$	4,424,388		6	$	13,141,405		40

Past Due Financing Receivables [Table Text Block]

An analysis of past due loans as of March 31, 2013 and December 31, 2012 was as follows:

March 31, 2013	Current		31-60  Days		61-89  Days		90 or Greater Days		Total  Past Due		Total Loan  Receivables
Commercial real estate	$	411,789,049	$	3,059,985	$	-	$	2,556,284	$	5,616,269	$	417,405,318
Residential first mortgages		165,428,069		784,556		-		2,876,028		3,660,584		169,088,653
Construction and land dev.		31,061,899		-		-		-		-		31,061,899
Home equity and second mtg.		21,305,488		85,782		-		187,502		273,284		21,578,772
Commercial loans		81,092,489		9,963		3,274,266		3,668,718		6,952,947		88,045,436
Consumer loans		1,022,981		-		-		-		-		1,022,981
Commercial equipment		15,416,281		95,827		-		216,383		312,210		15,728,491
Total	$	727,116,256	$	4,036,113	$	3,274,266	$	9,504,915	$	16,815,294	$	743,931,550

December 31, 2012	Current		31-60  Days		61-89  Days		90 or Greater Days		Total  Past Due		Total Loan  Receivables
Commercial real estate	$	416,721,658	$	-	$	1,417,810	$	1,527,844	$	2,945,654	$	419,667,312
Residential first mortgages		173,593,886		97,307		802,757		3,169,404		4,069,468		177,663,354
Construction and land dev.		31,818,782		-		-		-		-		31,818,782
Home equity and second mtg.		21,499,018		350,715		61,346		71,296		483,357		21,982,375
Commercial loans		84,384,426		-		41,090		3,732,090		3,773,180		88,157,606
Consumer loans		983,094		9,363		2,749		-		12,112		995,206
Commercial equipment		15,659,007		371,921		20,373		216,383		608,677		16,267,684
Total	$	744,659,871	$	829,306	$	2,346,125	$	8,717,017	$	11,892,448	$	756,552,319

Schedule Of Financing Receivable Recorded Investment Credit Quality Indicator [Table Text Block]

Credit quality indicators as of March 31, 2013 and December 31, 2012 were as follows:

Credit Risk Profile by Internally Assigned Grade

	Commercial Real Estate				Construction and Land Dev.
	3/31/2013		12/31/2012		3/31/2013		12/31/2012
Unrated	$	58,812,409	$	59,930,126	$	4,631,466	$	4,330,321
Pass		328,207,209		329,882,941		19,041,110		19,752,749
Special mention		5,408,019		4,880,758		-		-
Substandard		24,977,681		24,973,487		7,389,323		7,735,712
Doubtful		-		-		-		-
Loss		-		-		-		-
Total	$	417,405,318	$	419,667,312	$	31,061,899	$	31,818,782

	Commercial Loans				Commercial Equipment
	3/31/2013		12/31/2012		3/31/2013		12/31/2012
Unrated	$	11,974,551	$	11,627,726	$	5,076,787	$	5,082,713
Pass		61,910,052		64,436,809		8,778,228		11,180,550
Special mention		1,905,558		-		1,848,625		-
Substandard		12,255,275		12,093,071		3,823		4,421
Doubtful		-		-		21,028		-
Loss		-		-		-		-
Total	$	88,045,436	$	88,157,606	$	15,728,491	$	16,267,684

Credit Risk Profile Based on Payment Activity

	Residential First Mortgages				Home Equity and Second Mtg.				Consumer Loans
	3/31/2013		12/31/2012		3/31/2013		12/31/2012		3/31/2013		12/31/2012
Performing	$	166,212,625	$	174,493,950	$	21,391,270	$	21,911,079	$	1,022,981	$	995,206
Nonperforming		2,876,028		3,169,404		187,502		71,296		-		-
Total	$	169,088,653	$	177,663,354	$	21,578,772	$	21,982,375	$	1,022,981	$	995,206

Impaired Financing Receivables [Table Text Block]

Impaired loans, including TDRs, at March 31, 2013 and March 31, 2012, respectively, and at December 31, 2012 were as follows:

March 31, 2013	Unpaid Contractual Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total  Recorded Investment		Related Allowance		Three Month Average Recorded Investment		Three Month Interest Income Recognized
Commercial real estate	$	22,599,139	$	19,762,215	$	2,836,924	$	22,599,139	$	767,349	$	21,639,940	$	250,517
Residential first mortgages		5,137,875		4,224,822		913,053		5,137,875		444,028		5,180,228		51,605
Construction and land dev.		4,627,433		4,621,596		-		4,621,596		-		4,468,755		68,575
Home equity and second mtg.		482,502		442,702		39,800		482,502		39,800		484,854		2,914
Commercial loans		9,107,430		8,797,355		310,075		9,107,430		307,930		8,941,164		78,014
Consumer loans		46,664		46,664		-		46,664		-		49,045		834
Commercial equipment		239,107		195,355		24,851		220,206		24,703		240,402		114
Total	$	42,240,150	$	38,090,709	$	4,124,703	$	42,215,412	$	1,583,810	$	41,004,388	$	452,573

December 31, 2012	Unpaid Contractual Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total  Recorded Investment		Related Allowance		Average Recorded Investment		Interest Income Recognized
Commercial real estate	$	21,618,890	$	18,804,478	$	2,814,412	$	21,618,890	$	785,878	$	22,501,842	$	1,119,715
Residential first mortgages		3,367,827		2,362,062		1,005,765		3,367,827		403,475		3,388,867		157,595
Construction and land dev.		4,877,868		4,877,868		-		4,877,868		-		4,792,982		276,260
Home equity and second mtg.		291,000		291,000		-		291,000		-		221,000		6,783
Commercial loans		8,778,681		8,330,442		448,238		8,778,681		353,883		9,153,074		284,095
Consumer loans		51,748		51,748		-		51,748		-		64,459		5,284
Commercial equipment		4,421		-		4,421		4,421		4,421		5,112		318
Total	$	38,990,435	$	34,717,598	$	4,272,836	$	38,990,435	$	1,547,657	$	40,127,336	$	1,850,050

March 31, 2012	Unpaid Contractual Principal Balance		Recorded Investment With No Allowance		Recorded Investment With Allowance		Total  Recorded Investment		Related Allowance		Three Month Average Recorded Investment		Three Month Interest Income Recognized
Commercial real estate	$	12,629,243	$	5,475,024	$	6,746,569	$	12,221,593	$	788,146	$	12,232,296	$	154,142
Residential first mortgages		1,525,146		907,368		617,778		1,525,146		113,000		1,525,217		20,023
Construction and land dev.		3,130,466		1,716,916		1,413,550		3,130,466		100,000		3,130,466		12,818
Home equity and second mtg.		143,858		-		143,858		143,858		89,540		143,858		-
Commercial loans		4,217,529		1,894,390		2,323,139		4,217,529		892,200		4,217,529		16,732
Commercial equipment		150,010		-		150,010		150,010		150,010		150,677		927
Total	$	21,796,252	$	9,993,698	$	11,394,904	$	21,388,602	$	2,132,896	$	21,400,043	$	204,642

Troubled Debt Restructurings on Financing Receivables [Table Text Block]

TDRs, included in the impaired loan schedules above, as of March 31, 2013 and December 31, 2012, respectively were as follows:

	March 31, 2013				December 31, 2012
	Dollars		Number  of Loans		Dollars		Number  of Loans
Commercial real estate	$	3,096,481		7	$	3,097,214		7
Residential first mortgages		1,492,466		4		1,418,229		3
	$	4,588,947		11	$	4,515,443		10