Note 2 - Cash and Balances Due From Banks

12 Months Ended

Dec. 31, 2017

Notes to Financial Statements

Cash and Cash Equivalents Disclosure [Text Block]

(

2

)

Cash

and

Balances

Due

from

Banks

Components

of cash and balances due from banks are as follows as of

December 31:

	20 1 7		20 16
Cash on Hand and Cash Items	$	9,746,132	$	8,509,530
Noninterest-Bearing Deposits with Other Banks		13,399,004		20,312,574
	$	23,145,136	$	28,822,104

The

Company is required to maintain reserve balances in cash or on deposit with the Federal Reserve Bank based on a percentage of deposits. Reserve balances totaled approximately

$1,515,000

and

$1,417,000

at

December 31, 2017

and

2016,

respectively.