v2.4.0.6
CONSOLIDATED STATEMENTS OF INCOME (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Interest Income:    
Interest on loans - related parties $ 854,384 $ 1,110,550
Interest on loans 353,796 227,745
Total interest income 1,208,180 1,338,295
Interest Expense:    
Long term debt - related parties 41,960 28,284
Long term debt 255,268 166,767
Total interest expense 297,228 195,051
Net interest income 910,952 1,143,244
Provision for loan losses 475,842 520,083
Net interest income after provision for loan losses 435,110 623,161
Noninterest Expense:    
Trust administration fee - related parties 250,000 250,000
Loan servicing fee - related parties 146 1,703
General and administrative - related parties 21,876 19,032
General and administrative 52,958 269,854
Total noninterest expense 324,980 540,589
Net income $ 110,130 $ 82,572
Net income per share of beneficial interest (in dollars per share) $ 0.02 $ 0.01
Weighted average shares outstanding (in shares) 6,436,065 6,438,493
Distributions per weighted average shares outstanding (in dollars per share) $ 0.14 $ 0.14