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DEPOSITS

6 Months Ended

Jun. 30, 2013

Deposit Liabilities Disclosures [Text Block]

DEPOSITS

The components of the outstanding deposit balances at June 30, 2013 and December 31, 2012 were as follows:

	June 30,		December 31,
	2013		2012
Non-interest-bearing DDA	$	30,486,661	$	40,271,190
Interest-bearing DDA		23,764,110		22,865,704
Money market		21,340,151		18,602,302
Savings		8,763,824		9,018,387
Time, under $100,000		75,112,213		83,416,175
Time, over $100,000		9,668,522		10,002,735
Total Deposits	$	169,135,481	$	184,176,493

There were no brokered deposits at June 30, 2013 and December 31, 2012. Since the Bank was not categorized as “well capitalized” at June 30, 2013 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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