SECURITIES (Tables)

6 Months Ended

Jun. 30, 2013

SECURITIES [Abstract]

Trading Securities (and Certain Trading Assets)

	June 30, 2013
	Amortized	Gross Unrealized	Gross Unrealized	Estimated
	Cost	Gains	Losses	Fair Value
Securities available for sale (AFS)
Asset-backed securities issued by GSEs
Residential MBS	$                 188,407	$                   28,695	$                            -	$                 217,102
Residential CMOs	50,618,010	119,451	1,047,834	49,689,627
Corporate equity securities	37,310	1,725	175	38,860
Bond mutual funds	4,056,354	101,908	-	4,158,262
Total securities available for sale	$            54,900,081	$                 251,779	$              1,048,009	$            54,103,851
Securities held to maturity (HTM)
Asset-backed securities issued by GSEs:
Residential MBS	$            25,259,406	$                 663,874	$                 204,768	$            25,718,512
Residential CMOs	70,262,142	479,231	518,964	70,222,409
Asset-backed securities issued by Others:
Residential CMOs	3,524,982	160,767	459,895	3,225,854
Total debt securities held to maturity	99,046,530	1,303,872	1,183,627	99,166,775
U.S. government obligations	849,953	-	-	849,953
Total securities held to maturity	$            99,896,483	$              1,303,872	$              1,183,627	$          100,016,728

	December 31, 2012
	Amortized	Gross Unrealized	Gross Unrealized	Estimated
	Cost	Gains	Losses	Fair Value
Securities available for sale (AFS)
Asset-backed securities issued by GSEs
Residential MBS	$                 198,400	$                   32,986	$                            -	$                 231,386
Residential CMOs	42,507,542	266,775	118,518	42,655,799
Corporate equity securities	37,310	306	284	37,332
Bond mutual funds	4,012,609	268,537	-	4,281,146
Total securities available for sale	$            46,755,861	$                 568,604	$                 118,802	$            47,205,663
Securities held to maturity (HTM)
Asset-backed securities issued by GSEs:
Residential MBS	$            31,239,176	$              1,237,277	$                            -	$            32,476,453
Residential CMOs	76,191,199	715,620	97,998	76,808,821
Asset-backed securities issued by Others:				-
Residential CMOs	4,439,118	197,028	484,343	4,151,803
Total debt securities held to maturity	111,869,493	2,149,925	582,341	113,437,077
U.S. government obligations	749,941	-	-	749,941
Total securities held to maturity	$          112,619,434	$              2,149,925	$                 582,341	$          114,187,018

Financing Receivable Credit Quality Indicators

GSE asset-backed security downgrades by Standard and Poor’s were treated as AAA based on regulatory guidance.

June 30, 2013		December 31. 2012
Credit Rating	Amount	Credit Rating	Amount
AAA	$       145,428,310	AAA	$       150,317,560
A+	-	A+	-
A	-	A	110,780
BBB	701,888	BBB	978,043
BBB-	113,154	BBB-	322,329
BB+	-	BB+	-
BB	887,302	BB	1,069,517
BB-	-	BB-	68,604
B+	67,454	B+	1,008,126
CCC+	929,835	CCC+	-
CCC	825,349	CCC	881,719
Total	$       148,953,292	Total	$       154,756,678