XML 137 R30.htm IDEA: XBRL DOCUMENT v2.4.0.8
3) Investments: Schedule of Allowance for loan losses as a contra-asset account (Tables)
 6 Months Ended
Jun. 30, 2013
Tables/Schedules  
Schedule of Allowance for loan losses as a contra-asset account

The following is a summary of the allowance for loan losses as a contra-asset account for the periods presented:

 

Allowance for Credit Losses and Recorded Investment in Mortgage Loans

 

Commercial

Residential

Residential Construction

Total

June 30, 2013

Allowance for credit losses:

Beginning balance - January 1, 2013

 $     -

 $  4,193,674

 $   46,187

 $  4,239,861

 Charge-offs

      -

   (116,808)

      -

   (116,808)

 Provision

   187,129

   (87,811)

   191,556

   290,874

Ending balance -June 30, 2013

 $  187,129

 $  3,989,055

 $  237,743

 $  4,413,927

Ending balance: individually evaluated for impairment

 $     -

 $  638,689

 $  137,629

 $  776,318

Ending balance: collectively evaluated for impairment

 $  187,129

 $  3,350,366

 $  100,114

 $  3,637,609

Ending balance: loans acquired with deteriorated credit quality

 $     -

 $     -

 $     -

 $     -

Mortgage loans:

Ending balance

 $ 35,309,814

 $ 48,095,617

 $  1,546,577

 $ 84,952,008

Ending balance: individually evaluated for impairment

 $     -

 $  3,224,378

 $  226,629

 $  3,451,007

Ending balance: collectively evaluated for impairment

 $ 35,309,814

 $ 44,871,239

 $  1,319,948

 $ 81,501,001

Ending balance: loans acquired with deteriorated credit quality

 $     -

 $     -

 $     -

 $     -

December 31, 2012

Allowance for credit losses:

Beginning balance - January 1, 2012

 $     -

 $  4,338,805

 $  542,368

 $  4,881,173

 Charge-offs

      -

   (560,699)

   (514,442)

  (1,075,141)

 Provision

      -

   415,568

    18,261

   433,829

Ending balance - December 31, 2012

 $     -

 $  4,193,674

 $   46,187

 $  4,239,861

Ending balance: individually evaluated for impairment

 $     -

 $  692,199

 $     -

 $  692,199

Ending balance: collectively evaluated for impairment

 $     -

 $  3,501,475

 $   46,187

 $  3,547,662

Ending balance: loans acquired with deteriorated credit quality

 $     -

 $     -

 $     -

 $     -

Mortgage loans:

Ending balance

 $ 34,956,031

 $ 50,584,923

 $  3,161,112

 $ 88,702,066

Ending balance: individually evaluated for impairment

 $     -

 $  4,692,517

 $  1,346,126

 $  6,038,643

Ending balance: collectively evaluated for impairment

 $ 34,956,031

 $ 45,892,406

 $  1,814,986

 $ 82,663,423

Ending balance: loans acquired with deteriorated credit quality

 $     -

 $     -

 $     -

 $     -