Note 7 - Deposits

6 Months Ended

Jun. 30, 2011

Deposit Liabilities Disclosures [Text Block]

7. DEPOSITS

The components of the outstanding deposit balances at June 30, 2011 and December 31, 2010 were as follows:

	June 30,		December 31,
	2011		2010
Non-interest-bearing DDA	$	34,366,638	$	33,326,683
Interest-bearing DDA		22,487,332		23,944,608
Money market		18,861,258		18,493,059
Savings		9,382,387		7,388,395
Time, under $100,000		75,293,261		78,893,224
Time, over $100,000		42,243,486		57,217,208
Total Deposits	$	202,634,362	$	219,263,177

Brokered deposits totaled $25,970,000 at June 30, 2011 and $37,307,000 at December 31, 2010. Since the Bank was not categorized as “well capitalized” at June 30, 2011 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. At June 30, 2011, maturities of brokered deposits were as follows:

	Due in 3 months or less	$13,166,000
	Due in 3-12 months	$12,804,000

- 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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