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DEPOSITS

3 Months Ended

Mar. 31, 2015

Deposit Liabilities Disclosures [Text Block]

DEPOSITS

The components of the outstanding deposit balances at March 31, 2015 and December 31, 2014 were as follows:

	March 31,		December 31,
	2015		2014
Non-interest-bearing DDA	$	32,801,858	$	34,215,744
Interest-bearing DDA		35,905,303		28,371,828
Money market		30,485,852		21,206,133
Savings		11,170,294		13,829,127
Time, under $100,000		50,615,280		62,563,704
Time, over $100,000		8,813,805		1,118,904
Total Deposits	$	169,792,392	$	161,305,440

There were no brokered deposits at either March 31, 2015 or December 31, 2014. Since the Bank was not categorized as “well capitalized” at March 31, 2015 and is under a Consent Order, a regulatory waiver is required to accept, renew or rollover brokered deposits. The Bank has not issued brokered deposits since January of 2010.

- Definition

The entire disclosure for deposit liabilities including data and tables. It may include a description of the entity's deposit liabilities, the aggregate amount of time deposits (including certificates of deposit) in denominations of $100,000 or more at the balance sheet date; the aggregate amount of any demand deposits that have been reclassified as loan balances, such as overdrafts, at the balance sheet date; deposits that are received on terms other than those in the normal course of business, the amount of accrued interest on deposit liabilities; securities, mortgage loans or other financial instruments that serve as collateral for deposits; for time deposits having a remaining term of more than one year, the aggregate amount of maturities for each of the five years following the balance sheet date; and the weighted average interest rate for all deposit liabilities held by the entity.

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