XML 98 R21.htm IDEA: XBRL DOCUMENT
v2.4.0.8

14) Mortgage Servicing Rights | 9 Months Ended
--- | ---
Sep. 30, 2013
Notes |
14) Mortgage Servicing Rights | 14) Mortgage Servicing Rights The following is a summary of the MSR activity for the periods presented.
| As of September 30 | As of December 31
| 2013 | 2012
Amortized cost: |  |
Balance before valuation allowance at beginning of year | $ 2,797,470 | $ -
MSRs received as proceeds from loan sales | 1,851,221 | 2,797,470
Amortization | (312,675) | -
Application of valuation allowance to write down MSRs with other than temporary impairment | - | -
Balance before valuation allowance at year end | $ 4,336,016 | $ 2,797,470
Valuation allowance for impairment of MSRs: |  |
Balance at beginning of year | $ - | $ -
Additions | - | -
Application of valuation allowance to write down MSRs with other than temporary impairment | - | -
Balance at year end | $ - | $ -
Mortgage servicing rights, net | $ 4,336,016 | $ 2,797,470
Estimated fair value of MSRs at year end | $ 4,336,016 | $ 2,797,470
Amortization for 2012 was immaterial, and was not recorded. The following table summarizes the Company’s estimate of future amortization of its existing MSRs carried at amortized cost. This projection was developed using the assumptions made by management in its September 30, 2013 valuation of MSRs. The assumptions underlying the following estimate will change as market conditions and portfolio composition and behavior change, causing both actual and projected amortization levels to change over time. Therefore, the following estimates will change in a manner and amount not presently determinable by management.
|  | Estimated MSR Amortization
2013 |  | $ 433,602
2014 |  | 433,602
2015 |  | 433,602
2016 |  | 433,602
2017 |  | 433,602
Thereafter | 2,168,006
Total |  | $ 4,336,016
The Company began to retain MSRs in the second quarter of 2012. Since the retained MSRs were relatively small, they were determined to be immaterial. However, the Company substantially increased its MSR retention in the fourth quarter 2012 and began to report these MSRs pursuant to the accounting policy discussed in Note 9 of the Notes to Consolidated Financial Statements.

X
- Definition No authoritative reference available. + References No definition available. + Details
Name: | fil_MortgageServicingRightsDisclosure
Namespace Prefix: | fil_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration