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DEPOSITS

9 Months Ended

Sep. 30, 2014

Deposit Liabilities Disclosures [Text Block]

7. DEPOSITS

The components of the outstanding deposit balances at September 30, 2014 and December 31, 2013 were as follows:

	September 30,		December 31,
	2014		2013
Non-interest-bearing DDA	$	32,316,595	$	33,313,136
Interest-bearing DDA		29,805,564		24,861,560
Money market		22,792,147		19,202,665
Savings		12,429,737		10,214,719
Time, under $100,000		61,606,343		74,352,652
Time, over $100,000		9,157,274		9,995,133
Total Deposits	$	168,107,660	$	171,939,865

There were no brokered deposits at either September 30, 2014 or December 31, 2013. Since the Bank was not categorized as “well capitalized” at September 30, 2014 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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