Fair Value Disclosures (Tables)

9 Months Ended

Sep. 30, 2012

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The tables below present the recorded amount of assets measured at fair value on a recurring basis.

			Quoted Prices in		Significant		Significant
	Balance as		Active Markets		Other		Other
	of		for Identical		Observable		Unobservable
	September 30,		Assets		Inputs		Inputs
	2012		(Level 1)		(Level 2)		(Level 3)

Securities available for sale: Securities of U.S.
Government agencies and corporations	$	2,004,160	$	-	$	2,004,160	$	-
Mortgage-backed securities		891,026		-		891,026		-

	$	2,895,186	$	-	$	2,895,186	$	-

Cash surrender value of life insurance	$	2,692,074	$	-	$	2,692,074	$	-

			Quoted Prices in		Significant		Significant
	Balance as		Active Markets		Other		Other
	of		for Identical		Observable		Unobservable
	December 31,		Assets		Inputs		Inputs
	2011		(Level 1)		(Level 2)		(Level 3)

Securities available for sale: Securities of U.S.
Government agencies and corporations	$	2,004,780	$	-	$	2,004,780	$	-
Mortgage-backed securities		973,253		-		973,253		-

	$	2,978,033	$	-	$	2,978,033	$	-

Cash surrender value of life insurance	$	2,617,088	$	-	$	2,617,088	$	-

Fair Value Measurements, Nonrecurring [Table Text Block]

The tables below present information about assets on the balance sheet at September 30, 2012 and December 31, 2011, for which a nonrecurring change in fair value was recorded.

Quoted Prices in

Significant

Balance as

Active Markets

Other

for Identical

Observable

Unobservable

September 30,

Assets

Inputs

2012

(Level 1)

(Level 2)

(Level 3)

Impaired loans

2,220,621

Foreclosed real estate

12,494,222

11,458,650

1,035,572

Quoted Prices in

Significant

Balance as

Active Markets

Other

for Identical

Observable

Unobservable

December 31,

Assets

Inputs

2011

(Level 1)

(Level 2)

(Level 3)

Impaired loans

965,988

Foreclosed real estate

10,500,411

9,297,479

1,202,932

Schedule of Fair Value and Carrying Value [Table Text Block]

The carrying amount and estimated fair value of the Company's financial instruments at September 30, 2012 and December 31, 2011, are as follows:

	September 30, 2012				December 31, 2011
	Carrying		Fair		Carrying		Fair
	Amount		Value		Amount		Value
Financial Assets:

Cash and cash equivalents	$	11,821,082	$	11,821,082	$	13,329,353	$	13,329,353
Securities available for sale		2,895,186		2,895,186		2,978,033		2,978,033
Federal Home Loan Bank stock		296,500		296,500		296,500		296,500
Loans, net		52,730,850		52,996,022		59,502,274		59,558,765
Accrued interest receivable		168,844		168,844		194,863		194,863
Cash surrender value of life insurance		2,692,074		2,692,074		2,617,088		2,617,088

Financial Liabilities:
Deposits		83,824,478		83,997,120		91,335,921		91,402,716
Accrued interest payable		283,613		283,613		248,957		248,957
Notes payable		921,000		921,000		921,000		921,000

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References+ Details

American Patriot Financial Group, Inc. 10-Q