Available-for-Sale Securities (Tables)

12 Months Ended

Dec. 31, 2013

Investments Debt And Equity Securities [Abstract]

Amortized Cost, Gross Unrealized Gains, Gross Unrealized Losses and Approximate Fair Values of Available-for-Sale Securities

The amortized cost, gross unrealized gains, gross unrealized losses and approximate fair value of available-for-sale securities at December 31, 2013 and 2012 are as follows:


			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
2013	Cost		Gains		Losses			Value
U. S. Government agency bonds	$	7,500,000	$	—	$	(420,650	)	$	7,079,350
U. S. Government agency mortgage-backed securities		22,387,986		—		(635,774	)		21,752,212
Corporate bonds		9,000,000		—		(130,206	)		8,869,794

	$	38,887,986	$	—	$	(1,186,630	)	$	37,701,356


			Gross		Gross
	Amortized		Unrealized		Unrealized			Fair
2012	Cost		Gains		Losses			Value
U. S. Government agency bonds	$	7,500,000	$	26,170	$	—		$	7,526,170
U. S. Government agency mortgage-backed securities		25,837,100		—		(130,209	)		25,706,891
Corporate bonds		9,000,000		—		(513,741	)		8,486,259

	$	42,337,100	$	26,170	$	(643,950	)	$	41,719,320

Gross Unrealized Loss and Fair Value of Available-for-Sale Securities, Aggregated by the Length of Time

The following table presents the Company’s available for sale securities’ gross unrealized losses and fair value, aggregated by the length of time the individual securities have been in a continuous loss position, at December 31, 2013 and 2012:


	Less Than 12 Months					12 Months or More					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
2013	Value		Loss			Value		Loss			Value		Loss
U. S. Government agency bonds	$	7,079,350	$	(420,650	)	$	—	$	—		$	7,079,350	$	(420,650	)
U. S. Government agency mortgage-backed securities		8,870,860		(291,233	)		12,855,648		(344,541	)		21,726,508		(635,774	)
Corporate bonds		—		—			8,869,794		(130,206	)		8,869,794		(130,206	)

Totals	$	15,950,210	$	(711,883	)	$	21,725,442	$	(474,747	)	$	37,675,652	$	(1,186,630	)


	Less Than 12 Months					12 Months or More					Total
	Fair		Unrealized			Fair		Unrealized			Fair		Unrealized
2012	Value		Loss			Value		Loss			Value		Loss
U. S. Government agency mortgage-backed securities	$	25,670,832	$	(130,209	)	$	—	$	—		$	25,670,832	$	(130,209	)
Corporate bonds		2,842,368		(157,632	)		5,643,891		(356,109	)		8,486,259		(513,741	)

Totals	$	28,513,200	$	(287,841	)	$	5,643,891	$	(356,109	)	$	34,157,091	$	(643,950	)

Amortized Cost and Fair Value of Available-for-Sale Debt Securities by Contractual Maturity


	Amortized		Fair
	Cost		Value
Maturity:
Corporate bonds 5 to 10 years	$	9,000,000	$	8,869,794
U.S. Government bonds 5 to 10 years		7,500,000		7,079,350
Mortgage-backed securities		22,387,986		21,752,212

Total	$	38,887,986	$	37,701,356