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Other Real Estate Operations
 12 Months Ended
Dec. 31, 2012
Other Real Estate Operations [Abstract]  
Other Real Estate Operations

Note 6. Other Real Estate Operations

At December 31, 2012 and 2011, the Company had other real estate owned of $4,873,844 and $2,762,640 respectively. For the years ended December 31, 2012, 2011 and 2010, amounts charged to operations for other real estate owned totaled $(58,044), $877,969 and $2,286,948 respectively. A summary of other real estate operations for the years ended December 31, 2012, 2011 and 2010 is as follows:

 

                         
    2012     2011     2010  

Expenses of holding other real estate owned

   $ 127,099     $ 918,291     $ 1,051,631  

Impairment write-downs on other real estate owned

     —         165,764       1,084,023  

(Gain) loss on sale of other real estate owned

     (185,143 )      (193,786 )      164,494  

Rental income from other real estate owned

     —         (12,300 )      (13,200 ) 
   

 

 

    

 

 

    

 

 

  

Expense from other real estate operations

   $ (58,044 )    $ 877,969     $ 2,286,948