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## NOTES TO FINANCIAL STATEMENTS 

## 3. INVESTMENT SECURITIES 

## Available-for-Sale 

The amortized cost and estimated fair value of available-for-sale investment securities at December 31, 2011 and 2010 consisted of the following: 

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Net unrealized gains on available-for-sale investment securities totaling $370,843 were recorded, net of $152,046 in tax liabilities, as accumulated other comprehensive income within shareholders’ equity at December 31, 2011. Unrealized holding gains arising during the year ended December 31, 2011 totaled $206,944. 

Proceeds from the maturity of available-for-sale investment securities for the year ended December 31, 2011 totaled $27,926,462. Proceeds and gross realized gains from the sale of available-for- sale investment securities for the year ended December 31, 2011 totaled $3,950,521 and $124,100, respectively. 

Net unrealized gains on available-for-sale investment securities totaling $287,999 were recorded, net of $118,080 in tax liabilities, as accumulated other comprehensive income within shareholders’ equity at December 31, 2010. Unrealized holding gains arising during the year ended December 31, 2010 totaled $280,978. Proceeds from the maturity of available-for-sale investment securities for the year ended December 31, 2010 totaled $1,595,953. Proceeds and gross realized gains from the sale of available-for-sale investment securities for the year ended December 31, 2010 totaled $10,862,782 and $372,895 respectively. 

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