Note 3 - Cash and Balances Due From Banks

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Cash and Cash Equivalents Disclosure [Text Block]

(

3

)

Cash

and

Balances

Due

from

Banks

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

December 31:

	20 1 8		2017
Cash on Hand and Cash Items	$	9,359,924	$	9,746,132
Noninterest-Bearing Deposits with Other Banks		1,016,952		13,399,004
	$	10,376,876	$	23,145,136

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

$1,979,000

and

$1,515,000

at

December 31, 2018

and

2017,

respectively.