SECURITIES (Tables)

9 Months Ended

Sep. 30, 2013

Trading Securities (and Certain Trading Assets)

	September 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	$                 181,968	$                   16,745	$                            -	$                 198,713
Residential CMOs	47,721,616	75,448	1,326,064	46,471,000
Corporate equity securities	37,310	1,572	184	38,698
Bond mutual funds	4,078,129	82,950	-	4,161,079
Total securities available for sale	$            52,019,023	$                 176,715	$              1,326,248	$            50,869,490
Securities held to maturity (HTM)
Asset-backed securities issued by GSEs:
Residential MBS	$            23,722,148	$                 684,723	$                 186,163	$            24,220,708
Residential CMOs	63,583,106	385,242	864,471	63,103,877
Asset-backed securities issued by Others:
Residential CMOs	3,294,474	100,907	418,975	2,976,406
Total debt securities held to maturity	90,599,728	1,170,872	1,469,609	90,300,991
U.S. government obligations	749,887	75	-	749,962
Total securities held to maturity	$            91,349,615	$              1,170,947	$              1,469,609	$            91,050,953

	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

Schedule of Unrealized Loss on Investments

Gross unrealized losses and estimated fair value by length of time that the individual HTM securities have been in a continuous unrealized loss position at December 31, 2012 are as follows:

December 31, 2012	Less Than 12		More Than 12
	Months		Months		Total
	Fair Value	Unrealized Loss	Fair Value	Unrealized Loss	Fair Value	Unrealized Losses
Asset-backed securities issued by GSEs	$     14,253,558	$            89,638	$       6,132,036	$             8,360	$     20,385,594	$            97,998
Asset-backed securities issued by other	-	-	3,057,666	484,343	3,057,666	484,343
	$     14,253,558	$            89,638	$       9,189,702	$          492,703	$     23,443,260	$          582,341

Financing Receivable Credit Quality Indicators

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

September 30, 2013		December 31. 2012
Credit Rating	Amount	Credit Rating	Amount
AAA	$       133,974,968	AAA	$       150,317,560
A+	-	A+	-
A	-	A	110,780
BBB	635,920	BBB	978,043
BBB-	106,045	BBB-	322,329
BB+	-	BB+	-
BB	836,679	BB	1,069,517
BB-	-	BB-	68,604
B+	66,873	B+	1,008,126
CCC+	874,410	CCC+	-
CCC	774,547	CCC	881,719
Total	$       137,269,442	Total	$       154,756,678

Held-To-Maturity Securities [Member]

Schedule of Unrealized Loss on Investments

Gross unrealized losses and estimated fair value by length of time that the individual HTM securities have been in a continuous unrealized loss position at September 30, 2013 are as follows:

September 30, 2013	Less Than 12		More Than 12
	Months		Months		Total
	Fair Value	Unrealized Loss	Fair Value	Unrealized Loss	Fair Value	Unrealized Losses
Asset-backed securities issued by GSEs	$     41,773,548	$       1,029,248	$       3,300,948	$            21,386	$     45,074,496	$       1,050,634
Asset-backed securities issued by other	-	-	2,258,562	418,975	2,258,562	418,975
	$     41,773,548	$       1,029,248	$       5,559,510	$          440,362	$     47,333,058	$       1,469,609

Available-For-Sale Securities [Member]

Schedule of Unrealized Loss on Investments

Gross unrealized losses and estimated fair value by length of time that the individual AFS securities have been in a continuous unrealized loss position at September 30, 2013 are as follows:

September 30, 2013	Less Than 12		More Than 12
	Months		Months		Total
	Fair Value	Unrealized Loss	Fair Value	Unrealized Loss	Fair Value	Unrealized Losses
Asset-backed securities issued by GSEs	$     33,460,034	$       1,098,769	$       5,623,802	$          227,295	$     39,083,836	$       1,326,064
Corporate equity securities	126	184	-	-	126	184
	$     33,460,160	$       1,098,953	$       5,623,802	$          227,295	$     39,083,962	$       1,326,248