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Long-term Borrowings | 12 Months Ended
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Dec. 31, 2011
Long-term Borrowings | Note 7. Long-term Borrowings Long-term borrowings are as follows:
|  | 2011 |  |  | 2010 |  |  | 2009 |
Federal Home Loan Bank of Atlanta, convertible advances |  | $ | 20,000,000 |  |  | $ | 20,000,000 |  |  | $ | 27,000,000 |
Mortgage payable-individual, interest at 7%, payments of $3,483, including principal and interest, due monthly through October 2010, secured by real estate |  |  | - |  |  |  | - |  |  |  | 33,711 |
|  | $ | 20,000,000 |  |  | $ | 20,000,000 |  |  | $ | 27,033,711 |
The Federal Home Loan Bank of Atlanta, convertible advances total includes the following: A $10,000,000 convertible advance issued in 2007, which has a final maturity of November, 1, 2017, but is callable monthly. This advance has a 3.28% interest rate, with interest payable monthly. The proceeds of the convertible advance were used to fund loans and purchase investment securities. A $5,000,000 convertible advance issued in 2008, which has a final maturity of July 23, 2018, but is callable quarterly starting July 23, 2009. This advance has a 2.73% interest rate, with interest payable quarterly. The proceeds of the convertible advance were used to fund loans. A $5,000,000 convertible advance issued in 2008, which has a final maturity of August 22, 2018, but is callable quarterly starting August 22, 2011. This advance has a 3.34% interest rate, with interest payable quarterly. The proceeds of the convertible advance were used to fund loans. At December 31, 2011, the scheduled maturities of long-term borrowings are approximately as follows:
|  | 2011 |
2016 and thereafter |  |  | 20,000,000

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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