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DEPOSITS

12 Months Ended

Dec. 31, 2014

Deposit Liabilities Disclosures [Text Block]

NOTE 6 - DEPOSITS

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

	2014		2013
Non-interest-bearing DDA	$	34,215,744	$	33,313,136
Interest-bearing DDA		28,371,828		24,861,560
Money market		21,206,133		19,202,665
Savings		13,829,127		10,214,719
Certificate of deposit		63,682,608		84,347,785
	$	161,305,440	$	171,939,865

Time deposits of $250,000 or more were $1,118,904 at year-end 2014 and $1,398,122 at year-end 2013.

Scheduled maturities of time deposits, as of December 31, 2014, were as follows:

2015	$	40,947,210
2016		16,747,614
2017		5,423,210
2018		532,514
2019		32,060
	$	63,682,608

- 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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