XML 39 R37.htm IDEA: XBRL DOCUMENT v2.4.0.8

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Schedule of components of income tax expense

		2013				2012				2011
Current:
Federal		$	400,931			$	448,832			$	720,259
State			197,671				186,616				261,679
Total current			598,602				635,448				981,938
Deferred income taxes (benefits):
Federal			(9,542	)			(5,130	)			(156,652	)
State			44,795				43,489				(57,876	)
Total deferred taxes (benefits)			35,252				38,359				(214,528	)
Income tax expense		$	633,855			$	673,807			$	767,410

Schedule of reconciliation of income tax expense

		2013				2012				2011
Income before income tax expense (benefit)		$	3,248,032			$	3,338,887			$	3,760,503
Taxes computed at Federal income tax rate		$	1,104,331			$	1,135,222			$	1,278,569
Increase (decrease) resulting from:
Tax-exempt income			(630,710	)			(644,546	)			(600,429	)
State income taxes, net of Federal income tax benefit			160,027				151,869				134,510
Other			207				31,262				(45,240	)
Income tax expense		$	633,855			$	673,807			$	767,410

Schedule of components of the net deferred income tax benefits

		2013				2012				2011
Deferred income tax benefits:
Accrued deferred compensation		$	129,101			$	120,695			$	108,861
Impairment loss on investment securities			1,218,497				1,212,351				1,212,351
Allowance for credit losses			458,303				816,722				1,275,889
Nonaccrual interest			339,765				283,045				69,103
Alternative minimum tax credits			485,444				306,523				136,952
Accumulated depreciation			60,627				75,650				62,144
Other real estate owned			14,940				-				-
Reserve for unfunded commitments			78,890				78,890				78,890
Other temporary differences			1,332				-				-
Accumulated securities premium accretion			39,514				-				-
Net unrealized depreciation on investment securities available for sale			778,048				-				-
Total deferred income tax benefits			3,604,461				2,893,876				2,944,190
Deferred income tax liabilities:
Accumulated securities discount accretion			-				32,209				44,165
Net unrealized appreciation on investment securities available for sale			-				1,626,412				1,219,126
Total deferred income tax liabilities			-				1,658,621				1,263,291
Net deferred income tax benefits		$	3,604,461			$	1,235,255			$	1,680,899

X

- Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 9

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 740

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration