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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
 3 Months Ended
Mar. 31, 2013
Investments, All Other Investments [Abstract]  
Fair Value, by Balance Sheet Grouping [Table Text Block]
At March 31, 2013       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 $44,552,200  $44,552,200  $-  $44,552,200  $- 
Investment securities - HTM  110,751,230   112,092,167   849,786   111,242,381   - 
Federal Home Loan Bank and Federal Reserve Stock  5,629,150   6,411,000   -   6,411,000   - 
Loans  734,918,520   743,314,000   -   743,314,000   - 
Other real estate owned  6,951,653   6,951,653   -   6,951,653   - 
                     
Liabilities                    
 Savings, NOW and money market accounts $396,391,598  $396,391,598  $-  $396,391,598  $- 
Time deposits  402,461,827   406,585,000   -   406,585,000   - 
Long-term debt  70,514,549   72,859,000   -   72,859,000   - 
Guaranteed preferred beneficial interest in junior subordinated debentures  12,000,000   2,400,000   -   2,400,000   - 

 

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   -