Note 10 - Deposits

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Deposit Liabilities Disclosures [Text Block]

(1

0

)

Deposits

The aggregate amount of overdrawn deposit accounts reclassified as loan balances totaled

$413,563

and

$272,110

as of

December

31,

2016

and

2015,

respectively.

Components of interest-bearing deposits as of

December

31

are as follows:

	20 16		2015
Interest-Bearing Demand	$	448,003,985	$	412,959,430
Savings		70,066,140		64,976,174
Time, $100,000 and Over		183,610,778		202,800,899
Other Time		183,616,992		196,931,462
	$	885,297,895	$	877,667,965

At

December

31,

2016

and

December

31,

2015,

the Company had brokered deposits of

$49,303,139

and

$25,576,524,

respectively. All of these brokered deposits represent Certificate of Deposit Account Registry Service (CDARS) reciprocal deposits. The CDARS deposits are

ones

in which customers placed core deposits into the CDARS program for FDIC insurance coverage and the Company receives reciprocal brokered deposits in a like amount. The aggregate amount of short-term jumbo certificates of deposit, each with a minimum denomination of

$100,000

was

$123,612,962

and

$141,900,102

as of

December

31,

2016

and

December

31,

2015,

respectively. The aggregate amount of jumbo certificates of deposit, each with a minimum denomination of

$250,000

was

$32,168,191

and

$31,755,483

as of

December

31,

2016

and

December

31,

2015,

respectively.

As of

December

31,

2016,

the scheduled maturities of certificates of deposit are as follows:

Year	Amount
2017	$	256,886,186
2018		63,055,100
2019		22,738,969
2020		15,858,433
2021 and Thereafter		8,689,082
	$	367,227,770