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Other Real Estate Operations
 12 Months Ended
Dec. 31, 2013
Real Estate [Abstract]  
Other Real Estate Operations

Note 6. Other Real Estate Operations

At December 31, 2013 and 2012, the Company had other real estate owned of $0 and $4,873,844 respectively. For the years ended December 31, 2013, 2012 and 2011, amounts charged to operations for other real estate owned totaled $211,687, $(58,044) and $877,969 respectively. A summary of other real estate operations for the years ended December 31, 2013, 2012 and 2011 is as follows:

 

     2013     2012     2011  

Expenses of holding other real estate owned

    $ 325,650      $ 127,099      $ 918,291   

Impairment write-downs on other real estate owned

      —          —          165,764   

(Gain) loss on sale of other real estate owned

      (113,963 )      (185,143 )      (193,786 ) 

Rental income from other real estate owned

      —          —          (12,300 ) 
  

 

 

    

 

 

    

 

 

  

Expense from other real estate operations

    $ 211,687      $ (58,044 )    $ 877,969